Quarterly report [Sections 13 or 15(d)]

Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information

Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information

9 Months Ended

Mar. 31, 2025

Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information

Note 8. Supplemental Equity and Accumulated Other Comprehensive Income (Loss):

Supplemental Equity

The Company has declared cash dividends per share of $0.08 and $0.24 in the quarter and nine months ended March 31, 2025 and 2024, respectively.

Consolidated Changes in Equity (amounts in thousands):


	Bio-Techne Shareholders
								Accumulated
				Additional				Other
	Common Stock			Paid-in		Retained		Comprehensive
	Shares	Amount		Capital		Earnings		Loss		Total
Balances at June 30, 2024	158,216	$	1,582	$	820,337	$	1,325,247	$	(78,316)	$	2,068,850
Net earnings							33,600				33,600
Other comprehensive income									18,229		18,229
Common stock issued for exercise of options	577		6		23,224		(2,338)				20,892
Common stock issued for restricted stock awards	50		1		1		(2,646)				(2,644)
Cash dividends							(12,688)				(12,688)
Stock-based compensation expense					10,146						10,146
Common stock issued to employee stock purchase plan	35		0		2,227						2,227
Employee stock purchase plan expense					38						38
Balances at September 30, 2024	158,878	$	1,589	$	855,973	$	1,341,175	$	(60,087)	$	2,138,650
Net earnings							34,890				34,890
Other comprehensive (loss)									(25,563)		(25,563)
Share repurchases	(1,118)		(11)				(75,617)				(75,628)
Common stock issued for exercise of options	132		1		5,183		(20)				5,164
Common stock issued for restricted stock awards	24		0		0		(993)				(993)
Cash dividends							(12,736)				(12,736)
Stock-based compensation expense					14,335						14,335
Employee stock purchase plan expense					373						373
Balances at December 31, 2024	157,916	$	1,579	$	875,864	$	1,286,699	$	(85,650)	$	2,078,492
Net earnings							22,588				22,588
Other comprehensive income									3,598		3,598
Share repurchases	(1,489)		(15)				(100,031)				(100,046)
Common stock issued for exercise of options	282		3		12,628						12,631
Common stock issued for restricted stock awards	9		1		1		(291)				(289)
Cash dividends							(12,580)				(12,580)
Stock-based compensation expense					11,355						11,355
Common stock issued to employee stock purchase plan	43		0		2,241						2,241
Employee stock purchase plan expense					35						35
Balances at March 31, 2025	156,761	$	1,568	$	902,124	$	1,196,385	$	(82,052)	$	2,018,025


	Bio-Techne Shareholders
								Accumulated
				Additional				Other
	Common Stock			Paid-in		Retained		Comprehensive
	Shares	Amount		Capital		Earnings		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 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									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 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

Accumulated Other Comprehensive Income

The components of Other comprehensive income (loss) consist of changes in foreign currency translation adjustments and changes in net unrealized gains (losses) on derivative instruments designated as cash flow hedges. The accumulated balances related to each component of Other comprehensive income (loss) are summarized as follows:


Three months ended March 31, 2025 (in thousands):	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of December 31, 2024, net of tax	$	5,030	$	(90,680)	$	(85,650)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(3,079)		4,807		1,728
Amounts reclassified out		1,790		660		2,450
Total other comprehensive income (loss), before tax		(1,289)		5,467		4,178
Tax (expense)/benefit		(424)		(156)		(580)
Total other comprehensive income (loss), net of tax		(1,713)		5,311		3,598
Balance as of March 31, 2025, net of tax	$	3,317	$	(85,369)	$	(82,052)


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)


Nine months ended March 31, 2025 (in thousands):	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of June 30, 2024, net of tax:	$	8,102	$	(86,418)	$	(78,316)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(9,778)		(555)		(10,333)
Amounts reclassified out		6,544		2,102		8,646
Total other comprehensive income (loss), before tax		(3,234)		1,547		(1,687)
Tax (expense)/benefit		(1,551)		(498)		(2,049)
Total other comprehensive income (loss), net of tax		(4,785)		1,049		(3,736)
Balance as of March 31, 2025, net of tax⁽¹⁾	$	3,317	$	(85,369)	$	(82,052)


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)

⁽¹⁾ The Company had a net deferred tax liability for its cash flow hedge of $1.0 million and $2.9 million as of March 31, 2025 and 2024, respectively.

Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within foreign currency translation adjustments do include impacts from the net investment hedge.