Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Policies)

v2.4.1.9
Significant Accounting Policies (Policies)
 6 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block]
Available-For-Sale Investments:
 
The Company’s available-for-sale securities are carried at fair value using Level 1 and Level 2 inputs. The fair value of the Company’s available-for-sale investments at December 31, 2014 and June 30, 2014 were $51.1 million and $48.4 million, respectively. The increase was primarily due to the change in the fair value of the Company’s investment in ChemoCentryx, Inc. (CCXI). The amortized cost basis of the Company’s available-for-sale investments at December 31, 2014 and June 30, 2014 were $37.2 million and $40.7 million, respectively.
 
Included in the Company’s available-for-sale securities is an investment in the common stock and warrants of CCXI. The fair value of the Company’s investment was $43.4 million and $37.1 million at December 31, 2014 and June 30, 2014, respectively. The cost basis of the Company’s investment in CCXI was $29.5 million at both December 31, 2014 and June 30, 2014.
Inventory, Policy [Policy Text Block]
Inventories:
 
Inventories consist of (in thousands):
 
 
December 31,
 
 
June 30,
 
 
 
2014
 
 
2014
 
                 
Raw materials
   $ 16,008     $ 9,852  
Finished goods
     36,807       28,995  
Inventories, net
   $ 52,815     $ 38,847  
 
At both December 31, 2014 and June 30, 2014, the Company had approximately $30 million of excess protein, antibody and chemically-based inventory on hand which was not valued.
Property, Plant and Equipment, Policy [Policy Text Block]
Property and Equipment:
 
Property and equipment consist of (in thousands):
 
 
December 31,
 
 
June 30,
 
 
 
2014
 
 
2014
 
                 
Land
   $ 7,361     $ 7,468  
Buildings and improvements
     150,754       149,442  
Machinery and equipment
    64,414       53,067  
Property and equipment, cost
     222,529       209,977  
Accumulated depreciation and amortization
     (97,753
)
     (92,857
)
Property and equipment, net
   $ 124,776     $ 117,120  
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]
Intangible Assets:
 
Intangible assets consist of (in thousands):                    
               
 
 
December 31,
 
 
June 30,
 
 
 
2014
 
 
2014
 
                 
Developed technology
   $ 111,437     $ 48,166  
Trade names
    64,653       24,280  
Customer relationships
     171,358       59,240  
Non-compete agreements
    3,304       3,109  
Intangible assets
     350,752       134,795  
Accumulated amortization
     (37,497
)
     (26,019
)
Intangible assets, net
   $ 313,255     $ 108,776  
Changes to the carrying amount of net intangible assets for the six months ended December 31, 2014 consist of (in thousands):
 
Beginning balance
   $ 108,776  
Acquisitions
     224,710  
Amortization expense
     (12,586
)
Currency translation
     (7,645
)
Ending balance
  $ 313,255  
 
The estimated future amortization expense for intangible assets as of December 31, 2014 is as follows (in thousands):
 
Period Ending June 30:
 
 
 
 
2015
   $ 13,981  
2016
     27,930  
2017
     27,047  
2018
     26,852  
2019
     26,238  
Thereafter
     191,207  
    $ 313,255  
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]
G
oodwill
:
 
Changes to the carrying amount of goodwill for the six months ended December 31, 2014 consist of (in thousands):
 
Beginning balance
   $ 151,473  
Acquisitions
     259,577  
Currency translation
     (9,399
)
Ending balance
  $ 401,651