Note 2 - Selected Balance Sheet Data |
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Supplemental Balance Sheet Disclosures [Text Block] |
N ote 2. Selected Balance Sheet Data: Available-For-Sale Investments: The fair value of the Company's available-for-sale investments at
December 31
,
2016 and June 30, 2016 were $56.6 million and $31.6 million, respectively. The increase was caused by the addition of $5.1 million in corporate bond securities held by Advanced Cell Diagnostics (ACD), and the investment of $1.3 million of available cash in China into certificates of deposit. The remaining difference is due to a $17
.7 million change in the fair value of the Company's investment in ChemoCentryx, Inc. (CCXI). The amortized cost basis of the Company's investment in CCXI at December 31, 2016 and June 30, 2016 was $29.5 Inventories: Inventories consist of (in thousands):
At December 31, 2016, the Company had $66.1 million of inventory compared to $57.1 million as of June 30, 2016. The increase from June 30 is primarily due to $9.6 million of additional inventory at ACD which was acquired on August 1, 2016. At both December 31, 2016 and June 30, 2016, the Company had approximately $24 Property and Equipment: Property and equipment consist of (in thousands):
Intangible Assets: Intangible assets consist of (in thousands):
Changes to the carrying amount of net intangible assets for the six months ended December 31, 2016 consist of (in thousands):
The estimated future amortization expense for intangible assets as of December 31, 2016 is as follows (in thousands):
G
oodwill:
Changes to the carrying amount of goodwill for the six months ended December 31, 2016 consist of (in thousands):
We evaluate the carrying value of goodwill in the fourth quarter of each year and between annual evaluations if events occur or circumstances change that would indicate a possible impairment. The Company used a “step zero” qualitative test to assess two of its
three fourth quarter for fiscal year 2016. The estimated fair values of these reporting units using “step zero” testing substantially exceeded their respective carrying values. The company elected to utilize a “step one” quantitative test for the Protein Platforms reporting unit given that this is a newer reporting unit created primarily through acquisitions. Based on the “step one” testing performed, no adjustment to the carrying value of goodwill was necessary. All of the reporting units had substantial headroom as of June 30, 2016
No triggering events were identified during the
six months ended December 31, 2016. There has been no impairment of goodwill since the adoption of Financial Accounting Standards Board (“FASB”) ASC 350 guidance for goodwill and other intangibles on July 1, 2002
.
Other Assets: Other Assets consist of (in thousands):
At
December 31, 2016, the Company had $42.7 million of other assets compared to $1.9 million as of June 30, 2016. The increase from June 30 is due to a $40
.0 million investment in Astute Medical, Inc. during the
second quarter of fiscal year 2017. This investment is accounted for under the cost-method as we own less than 20% of the outstanding stock and we concluded that we do not have significant influence. Under the cost-method, the fair value is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment. No such events or changes in circumstances were identified in the period ended December 31, 2016.
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