| Supplemental Balance Sheet and Cash Flow Information |
Note 3. Selected Balance Sheet Data:
Inventories:
Inventories consist of (in thousands):
|
|
|
|
|
|
|
|
|
|
December 31, |
|
June 30, |
|
|
|
2024 |
|
2024 |
|
|
|
|
|
|
|
|
|
Raw materials |
|
$ |
83,960 |
|
$ |
79,377 |
|
Finished goods(1) |
|
|
110,153 |
|
|
106,072 |
|
Inventories, net |
|
$ |
194,113 |
|
$ |
185,449 |
|
(1) Finished goods inventory of $5,740 and $5,718 included within Other long-term assets in the respective December 31, 2024 and June 30, 2024, Consolidated Balance Sheet. The inventory is included in long-term assets as it is forecasted to be sold after the 12 months subsequent to the Consolidated Balance Sheet date.
Property and Equipment:
Property and equipment consist of (in thousands):
|
|
|
|
|
|
|
|
|
|
December 31, |
|
June 30, |
|
|
|
2024 |
|
2024 |
|
Land |
|
$ |
8,104 |
|
$ |
8,150 |
|
Buildings and improvements |
|
|
249,193 |
|
|
243,863 |
|
Machinery and equipment |
|
|
235,984 |
|
|
215,948 |
|
Construction in progress |
|
|
26,785 |
|
|
39,749 |
|
Property and equipment, cost |
|
|
520,066 |
|
|
507,710 |
|
Accumulated depreciation and amortization |
|
|
(270,313) |
|
|
(256,556) |
|
Property and equipment, net |
|
$ |
249,753 |
|
$ |
251,154 |
|
Intangible Assets:
Intangible assets consist of (in thousands):
|
|
|
|
|
|
|
|
|
|
December 31, |
|
June 30, |
|
|
|
2024 |
|
2024 |
|
|
|
|
|
|
|
|
|
Developed technology |
|
$ |
675,072 |
|
$ |
675,674 |
|
Tradenames |
|
|
151,066 |
|
|
151,561 |
|
Customer relationships |
|
|
210,881 |
|
|
211,276 |
|
Patents |
|
|
4,736 |
|
|
4,343 |
|
Other intangibles |
|
|
7,161 |
|
|
12,006 |
|
Definite-lived intangible assets |
|
|
1,048,916 |
|
|
1,054,860 |
|
Accumulated amortization |
|
|
(587,865) |
|
|
(547,779) |
|
Total intangible assets, net |
|
$ |
461,051 |
|
$ |
507,081 |
|
Changes to the carrying amount of net intangible assets for the period ended December 31, 2024 consist of (in thousands):
|
|
|
|
|
|
December 31, |
|
|
2024 |
|
|
|
|
Beginning balance |
|
$ |
507,081 |
Other additions |
|
|
249 |
Amortization expense |
|
|
(38,911) |
Restructuring impairment |
|
|
(7,050) |
Currency translation |
|
|
(318) |
Ending balance |
|
$ |
461,051 |
The estimated future amortization expense for intangible assets as of December 31, 2024 is as follows (in thousands):
|
|
|
|
Remainder 2025 |
|
$ |
37,819 |
2026 |
|
|
72,318 |
2027 |
|
|
62,182 |
2028 |
|
|
58,478 |
2029 |
|
|
45,912 |
Thereafter |
|
|
184,342 |
Total |
|
$ |
461,051 |
Goodwill:
Changes to the carrying amount of goodwill for the period ended December 31, 2024 consist of (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diagnostics and |
|
|
|
|
Protein Sciences |
|
Spatial Biology |
|
Total |
June 30, 2024 |
|
$ |
423,449 |
|
$ |
549,214 |
|
$ |
972,663 |
Currency translation |
|
|
(3,642) |
|
|
(4,414) |
|
|
(8,056) |
December 31, 2024 |
|
$ |
419,807 |
|
$ |
544,800 |
|
$ |
964,607 |
We evaluate the carrying value of goodwill in the fourth quarter of each fiscal year and between annual evaluations if events occur or circumstances change that would indicate a possible impairment. The Company performed a qualitative goodwill impairment assessment for all of its reporting units during the fourth quarter of fiscal 2024. No indicators of impairment were identified as part of our assessment.
Other Assets:
Other assets consist of (in thousands):
|
|
|
|
|
|
|
|
|
December 31, |
|
June 30, |
|
|
2024 |
|
2024 |
|
|
|
|
|
|
|
Equity method investment in Wilson Wolf |
|
$ |
241,354 |
|
$ |
242,337 |
Derivative instruments |
|
|
3,227 |
|
|
9,813 |
Long-term inventory |
|
|
5,740 |
|
|
5,718 |
Investment in Spear Bio |
|
|
15,000 |
|
|
— |
Other |
|
|
9,669 |
|
|
6,397 |
Other assets |
|
$ |
274,990 |
|
$ |
264,265 |
|