Quarterly report pursuant to Section 13 or 15(d)

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Tables)

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Mar. 31, 2024

Schedule of the Consolidated Changes in Equity

Consolidated Changes in Equity (amounts in thousands):


	Bio-Techne Shareholders
								Accumulated
				Additional				Other
	Common Stock			Paid-in		Retained		Comprehensive
	Shares	Amount		Capital		Earnings		Income(Loss)		Total
Balances at June 30, 2023	157,642	$	1,576	$	721,543	$	1,309,461	$	(66,064)	$	1,966,516
Net earnings							50,993				50,993
Other comprehensive income (loss)									(11,952)		(11,952)
Common stock issued for exercise of options	633		6		12,877		(15,460)				(2,577)
Common stock issued for restricted stock awards	47		1		0		(4,768)				(4,767)
Cash dividends							(12,654)				(12,654)
Stock-based compensation expense					9,981						9,981
Common stock issued to employee stock purchase plan	33		1		2,093						2,094
Employee stock purchase plan expense					112						112
Balances at September 30, 2023	158,355	$	1,584	$	746,606	$	1,327,572	$	(78,016)	$	1,997,746
Net earnings							27,465				27,465
Other comprehensive income (loss)									14,355		14,355
Share repurchases	(1,397)		(14)				(80,028)				(80,042)
Common stock issued for exercise of options	157		1		4,914		(1,074)				3,841
Common stock issued for restricted stock awards	27		0		0						0
Cash dividends							(12,559)				(12,559)
Stock-based compensation expense					12,413						12,413
Employee stock purchase plan expense					340						340
Balances at December 31, 2023	157,142	$	1,571	$	764,273	$	1,261,376	$	(63,661)	$	1,963,559
Net earnings							49,059				49,059
Other comprehensive income (loss)									(11,646)		(11,646)
Common stock issued for exercise of options	372		4		15,761						15,765
Common stock issued for restricted stock awards	4		0		0		(168)				(168)
Cash dividends							(12,579)				(12,579)
Stock-based compensation expense					8,053						8,053
Common stock issued to employee stock purchase plan	36		1		2,251						2,252
Employee stock purchase plan expense					80						80
Balances at March 31, 2024	157,554	$	1,576	$	790,418	$	1,297,688	$	(75,307)	$	2,014,375


	Bio-Techne Shareholders
								Accumulated
				Additional				Other
	Common Stock			Paid-in		Retained		Comprehensive		Noncontrolling
	Shares	Amount		Capital		Earnings		Income(Loss)		Interest		Total
Balances at June 30, 2022	156,644	$	1,566	$	652,467	$	1,122,937	$	(75,200)	$	(759)	$	1,701,011
Net earnings							89,555				179		89,734
Other comprehensive income (loss)									(16,762)				(16,762)
Reclassification of cumulative translation adjustment for Eminence to non-operating income									152		(33)		119
Elimination of noncontrolling equity interest from sale of Eminence											613		613
Share repurchases	(222)		(2)				(19,560)						(19,562)
Common stock issued for exercise of options	425		5		9,418		(11,428)						(2,005)
Common stock issued for restricted stock awards	45		0		0		(6,427)						(6,427)
Cash dividends							(12,545)						(12,545)
Stock-based compensation expense					14,364								14,364
Common stock issued to employee stock purchase plan	36		0		2,517								2,517
Employee stock purchase plan expense					97								97
Balances at September 30, 2022	156,928	$	1,569	$	678,863	$	1,162,532	$	(91,810)	$	—	$	1,751,154
Net earnings							50,005						50,005
Other comprehensive income (loss)									16,685				16,685
Common stock issued for exercise of options	155		1		5,074								5,075
Common stock issued for restricted stock awards	11		1		1								2
Cash dividends							(12,561)						(12,561)
Stock-based compensation expense					16,413								16,413
Employee stock purchase plan expense					333								333
Balances at December 31, 2022	157,094	$	1,571	$	700,684	$	1,199,976	$	(75,125)	$	—	$	1,827,106
Net earnings							70,218						70,218
Other comprehensive income (loss)									1,574				1,574
Share repurchases													—
Common stock issued for exercise of options	201		2		1,871		(10,733)						(8,860)
Common stock issued for restricted stock awards	6		0		0		(267)						(267)
Cash dividends							(12,582)						(12,582)
Stock-based compensation expense					9,995								9,995
Common stock issued to employee stock purchase plan	38		0		2,389								2,389
Employee stock purchase plan expense					113								113
Balances at March 31, 2023	157,339	$	1,573	$	715,052	$	1,246,612	$	(73,551)	$	—	$	1,889,686

Schedule of changes in Accumulated Other Comprehensive Income (Loss)


Three months ended March 31, 2024 (in thousands):	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of December 31, 2023, net of tax:	$	8,842	$	(72,503)	$	(63,661)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(1,626)		(12,620)		(14,246)
Amounts reclassified out		2,570		837		3,407
Total other comprehensive income (loss), before tax		944		(11,783)		(10,839)
Tax (expense)/benefit		(609)		(198)		(807)
Total other comprehensive income (loss), net of tax		335		(11,981)		(11,646)
Balance as of March 31, 2024, net of tax	$	9,177	$	(84,484)	$	(75,307)


Three months ended March 31, 2023 (in thousands):	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of December 31, 2022, attributable to Bio-Techne, net of tax:	$	12,079	$	(87,204)	$	(75,125)
Other comprehensive income (loss), before tax:
Amounts before reclassifications, attributable to Bio-Techne		(3,105)		3,282		177
Amounts reclassified out		1,826		—		1,826
Total other comprehensive income (loss), before tax		(1,279)		3,282		2,003
Tax (expense)/benefit		(429)		—		(429)
Total other comprehensive income (loss), net of tax		(1,708)		3,282		1,574
Balance as of March 31, 2023, net of tax	$	10,371	$	(83,922)	$	(73,551)


Nine months ended March 31, 2024 (in thousands):	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of June 30, 2023, net of tax:	$	12,862	$	(78,926)	$	(66,064)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(9,582)		(7,368)		(16,950)
Amounts reclassified out		7,729		2,372		10,101
Total other comprehensive income (loss), before tax		(1,853)		(4,996)		(6,849)
Tax (expense)/benefit		(1,832)		(562)		(2,394)
Total other comprehensive income (loss), net of tax		(3,685)		(5,558)		(9,243)
Balance as of March 31, 2024, net of tax⁽¹⁾	$	9,177	$	(84,484)	$	(75,307)


Nine months ended March 31, 2023 (in thousands):	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of June 30, 2022, attributable to Bio-Techne, net of tax:	$	8,069	$	(83,269)	$	(75,200)
Other comprehensive income (loss), before tax:
Amounts before reclassifications, attributable to Bio-Techne		431		(805)		(374)
Amounts reclassified out		2,445		152		2,597
Total other comprehensive income (loss), before tax		2,876		(653)		2,223
Tax (expense)/benefit		(574)		—		(574)
Total other comprehensive income (loss), net of tax		2,302		(653)		1,649
Balance as of March 31, 2023, net of tax⁽¹⁾	$	10,371	$	(83,922)	$	(73,551)

⁽¹⁾ The Company had a net deferred tax liability for its cash flow hedge of $2.9 million and $3.2 million for the nine months ended March 31, 2024 and 2023, respectively,