Quarterly report pursuant to Section 13 or 15(d)

Selected Balance Sheet Data

v3.23.1
Selected Balance Sheet Data
9 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Selected Balance Sheet Data

Note 3. Selected Balance Sheet Data:

Inventories:

Inventories consist of (in thousands):

​

​

​

​

​

​

​

​

​

    

March 31, 

​

June 30, 

​

    

2023

    

2022

​

​

​

​

​

​

​

Raw materials

​

$

87,006

​

$

79,291

Finished goods(1)

​

 

88,038

​

 

66,943

Inventories, net

​

$

175,044

​

$

146,234

​

(1) Finished goods inventory of $5,580 and $5,111 included within other long-term assets in the respective March 31, 2023 and June 30, 2022, 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):

​

​

​

​

​

​

​

​

​

    

March 31, 

​

June 30, 

​

    

2023

    

2022

Land

​

$

9,080

​

$

8,572

Buildings and improvements

​

 

242,958

​

 

229,551

Machinery and equipment

​

​

190,896

​

​

174,813

Construction in progress

​

 

11,065

​

 

21,729

Property and equipment, cost

​

 

453,999

​

 

434,665

Accumulated depreciation and amortization

​

 

(230,428)

​

 

(211,423)

Property and equipment, net

​

$

223,571

​

$

223,242

​

Intangible Assets:

Intangible assets consist of (in thousands):

​

​

​

​

​

​

​

​

​

​

March 31, 

​

June 30, 

​

​

2023

​

2022

​

​

​

​

​

​

​

Developed technology

​

$

615,752

​

$

542,038

Trade names

​

 

146,781

​

 

146,457

Customer relationships

​

 

224,626

​

 

225,882

Patents

​

 

3,716

​

 

3,313

Other intangibles

​

 

11,560

​

 

6,306

Definite-lived intangible assets

​

 

1,002,435

​

 

923,996

Accumulated amortization

​

 

(471,878)

​

 

(415,174)

Definite-lived intangibles assets, net

​

 

530,557

​

 

508,822

In process research and development

​

 

22,700

​

 

22,700

Total intangible assets, net

​

$

553,257

​

$

531,522

​

​

Changes to the carrying amount of net intangible assets for the period ended March 31, 2023 consist of (in thousands):

​

​

​

​

​

​

​

​

​

Beginning balance

​

$

531,522

Acquisitions

​

 

75,600

Other additions1)

​

 

5,596

Amortization expense

​

 

(58,400)

Currency translation

​

​

(1,061)

Ending balance

​

$

553,257

​

1) Includes the purchase of a $4.6 million intangible asset from Wilson Wolf, an equity method investee of the Company, during the quarter ended March 31, 2023. This asset will be amortized over a life of 10 years.

​

The estimated future amortization expense for intangible assets as of March 31, 2023 is as follows (in thousands):

​

​

​

​

​

Remainder 2023

    

$

19,190

2024

​

 

75,232

2025

​

 

71,958

2026

​

 

67,986

2027

​

 

57,824

Thereafter

​

 

238,367

Total

​

$

530,557

​

Goodwill:

​

Changes to the carrying amount of goodwill for the period ended March 31, 2023 consist of (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Diagnostics and

    

​

​

​

Protein Sciences

​

 Genomics

​

Total

June 30, 2022

​

$

376,493

​

$

445,608

​

$

822,101

Acquisitions

​

 

51,051

​

​

-

​

​

51,051

Currency translation

​

 

(2,710)

​

​

100

​

​

(2,610)

March 31, 2023

​

$

424,834

​

$

445,708

​

$

870,542

​

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 quantitative goodwill impairment assessment for all of its reporting units during the fourth quarter of fiscal 2022. No indicators of impairment were identified as part of our assessment.

​

Other Assets:

​

Other assets consist of (in thousands):

​

​

​

​

​

​

​

​

​

    

March 31, 

​

June 30, 

​

    

2023

    

2022

​

​

​

​

​

​

​

Equity method investments

​

$

257,000

​

$

—

Other

​

 

26,354

​

 

46,828

Other assets

​

$

283,354

​

$

46,828

​