Quarterly report pursuant to Section 13 or 15(d)

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Tables)

v3.23.1
Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Tables)
9 Months Ended
Mar. 31, 2023
Notes Tables  
Schedule of the Consolidated Changes in Equity

Consolidated Changes in Equity (amounts in thousands)

    

Bio-Techne Shareholders    

    

    

  

Accumulated

Additional

Other

Common Stock

Paid-in

Retained

Comprehensive

Noncontrolling

Shares

Amount

Capital

Earnings

Income(Loss)

Interest  

Total

Balances at June 30, 2022

 

156,644

$

1,566

$

652,467

$

1,122,937

$

(75,200)

$

(759)

$

1,701,011

Net earnings

 

 

 

89,555

 

 

179

 

89,734

Other comprehensive income (loss)

 

 

 

 

(16,762)

 

 

(16,762)

Reclassification of cumulative translation adjustment for Eminence to non-operating income

152

(33)

119

Elimination of noncontrolling equity interest from sale of Eminence

 

 

 

 

 

 

613

 

613

Share repurchases

 

(222)

 

(2)

 

 

(19,560)

 

 

 

(19,562)

Common stock issued for exercise of options

 

425

 

5

 

9,418

 

(11,428)

 

 

 

(2,005)

Common stock issued for restricted stock awards

 

45

0

 

0

 

(6,427)

 

 

 

(6,427)

Cash dividends

 

 

 

(12,545)

 

 

 

(12,545)

Stock-based compensation expense

 

 

 

14,364

 

 

 

 

14,364

Common stock issued to employee stock purchase plan

 

36

0

 

2,517

 

 

 

 

2,517

Employee stock purchase plan expense

97

97

Balances at September 30, 2022

 

156,928

$

1,569

$

678,863

$

1,162,532

$

(91,810)

$

$

1,751,154

Net earnings

 

50,005

 

50,005

Other comprehensive income (loss)

16,685

16,685

Share repurchases

 

 

Common stock issued for exercise of options

 

155

1

5,074

 

5,075

Common stock issued for restricted stock awards

 

11

1

1

 

2

Cash dividends

 

(12,561)

 

(12,561)

Stock-based compensation expense

 

16,413

 

16,413

Common stock issued to employee stock purchase plan

 

 

Employee stock purchase plan expense

333

333

Balances at December 31, 2022

 

157,094

$

1,571

$

700,684

$

1,199,976

$

(75,125)

$

$

1,827,106

Net earnings

70,218

70,218

Other comprehensive income (loss)

1,574

1,574

Common stock issued for exercise of options

201

2

1,871

(10,733)

(8,860)

Common stock issued for restricted stock awards

6

0

0

(267)

(267)

Cash dividends

(12,582)

(12,582)

Stock-based compensation expense

9,995

9,995

Common stock issued to employee stock purchase plan

38

0

2,389

2,389

Employee stock purchase plan expense

113

113

Balances at March 31, 2023

 

157,339

$

1,573

$

715,052

$

1,246,612

$

(73,551)

$

$

1,889,686

    

Bio-Techne Shareholders

    

    

  

Accumulated

Additional

Other

Common Stock

Paid-in

Retained

Comprehensive

Noncontrolling

Shares

Amount

Capital

Earnings

Income(Loss)

Interest  

Total

Balances at June 30, 2021

 

155,822

$

1,558

$

533,239

$

1,085,465

$

(57,291)

$

8,263

$

1,571,234

Net earnings

69,615

(634)

68,981

Other comprehensive income (loss)

 

 

(6,925)

 

(39)

 

(6,964)

Common stock issued for exercise of options

 

1,178

 

12

 

36,336

 

(13,481)

 

 

 

22,867

Common stock issued for restricted stock awards

 

79

 

1

 

(1)

 

(9,765)

 

 

 

(9,765)

Cash dividends

 

 

 

(12,493)

 

 

 

(12,493)

Stock-based compensation expense

 

 

11,396

 

 

 

 

11,396

Common stock issued to employee stock purchase plan

 

13

 

0

 

1,358

 

 

 

 

1,358

Employee stock purchase plan expense

 

 

341

 

 

 

 

341

Balances at September 30, 2021

 

157,092

$

1,571

$

582,669

$

1,119,341

$

(64,216)

$

7,590

$

1,646,955

Non-controlling interest in Eminence

 

Net earnings

 

80,173

 

 

(8,114)

 

72,059

Other comprehensive income (loss)

 

 

4,742

 

66

 

4,808

Share repurchases

(357)

(4)

(41,290)

(41,294)

Common stock issued for exercise of options

 

538

 

6

 

18,599

 

 

18,605

Common stock issued for restricted stock awards

 

6

 

0

0

 

 

0

Cash dividends

 

 

 

(12,576)

 

(12,576)

Stock-based compensation expense

 

 

13,701

 

 

13,701

Common stock issued to employee stock purchase plan

6

6

Employee stock purchase plan expense

 

 

267

 

 

267

Balances at December 31, 2021

 

157,279

$

1,573

$

615,242

$

1,145,648

$

(59,474)

$

(458)

$

1,702,531

Net earnings

 

60,739

 

 

(595)

 

60,144

Other comprehensive income (loss)

 

 

4,329

 

(1)

 

4,328

Share repurchases

(580)

(5)

(60,833)

(60,838)

Common stock issued for exercise of options

 

337

 

3

 

10,492

 

 

 

10,495

Common stock issued for restricted stock awards

 

3

 

0

 

0

 

(159)

 

 

(159)

Cash dividends

 

 

 

(12,577)

 

 

(12,577)

Stock-based compensation expense

 

 

8,043

 

 

 

8,043

Common stock issued to employee stock purchase plan

15

0

1,330

1,330

Employee stock purchase plan expense

 

 

25

 

 

 

25

Balances at March 31, 2022

 

157,054

$

1,571

$

635,132

$

1,132,818

$

(55,145)

$

(1,054)

$

1,713,322

Schedule of each component of other comprehensive income (loss)

Unrealized

Gains

Foreign 

(Losses) on

Currency

Derivative

Translation 

    

Instruments

    

Adjustments

    

Total

Balance as of June 30, 2022

$

8,069

$

(83,269)

$

(75,200)

Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne

 

4,172

 

(805)

 

3,367

Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1)

 

(1,870)

(1,870)

Reclassification of cumulative translation adjustment for Eminence to non-operating income, net of taxes, attributable to Bio-Techne

152

152

Balance as of March 31, 2023(2)

$

10,371

$

(83,922)

$

(73,551)

Unrealized

Gains

Foreign 

(Losses) on

Currency

Derivative

Translation 

    

Instruments

    

Adjustments

    

Total

Balance as of June 30, 2021 attributable to Bio-Techne

$

(6,193)

$

(51,098)

$

(57,291)

Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne

 

7,757

 

(9,599)

 

(1,842)

Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1)

 

3,988

 

 

3,988

Balance as of March 31, 2022(2)

$

5,552

$

(60,697)

$

(55,145)

(1)

(Gains)/losses on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $2,445 to interest income and recorded a related tax expense of $575 during the nine months ended March 31, 2023. The Company reclassified $5,214 to interest expense and a related tax benefit of $1,226 during the nine months ended March 31, 2022.

(2)

The Company had a net deferred tax liability of $3,186 and $1,706 included in the accumulated other comprehensive income loss as of March 31,  2023 and 2022, respectively.