Quarterly report pursuant to Section 13 or 15(d)

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

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

6 Months Ended

Dec. 31, 2023

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
	Shares	Amount		Capital		Earnings		Income(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 income (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 (loss)									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


	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
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
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

Schedule of changes in Accumulated Other Comprehensive Income (Loss)


Three months ended December 31, 2023 (in thousands):	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of September 30, 2023, net of tax:	$	12,512	$	(90,528)	$	(78,016)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(5,669)		17,387		11,718
Amounts reclassified out		2,620		837		3,457
Total other comprehensive income (loss), before tax		(3,049)		18,224		15,175
Tax (expense)/benefit		(621)		(199)		(820)
Total other comprehensive income (loss), net of tax		(3,670)		18,025		14,355
Balance as of December 31, 2023, net of tax	$	8,842	$	(72,503)	$	(63,661)


Three months ended December 31, 2022 (in thousands):	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of September 30, 2022, attributable to Bio-Techne, net of tax:	$	12,764	$	(104,574)	$	(91,810)
Other comprehensive income (loss), before tax:
Amounts before reclassifications, attributable to Bio-Techne		(1,477)		17,370		15,893
Amounts reclassified out		1,036		—		1,036
Total other comprehensive income (loss), before tax		(441)		17,370		16,929
Tax (expense)/benefit		(244)		—		(244)
Total other comprehensive income (loss), net of tax		(685)		17,370		16,685
Balance as of December 31, 2022, net of tax	$	12,079	$	(87,204)	$	(75,125)


Six months ended December 31, 2023 (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		(7,956)		5,252		(2,704)
Amounts reclassified out		5,159		1,535		6,694
Total other comprehensive income (loss), before tax		(2,797)		6,787		3,990
Tax (expense)/benefit		(1,223)		(364)		(1,587)
Total other comprehensive income (loss), net of tax		(4,020)		6,423		2,403
Balance as of December 31, 2023, net of tax⁽¹⁾	$	8,842	$	(72,503)	$	(63,661)


Six months ended December 31, 2022 (in thousands):	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of June 30, 2022, attributable to Bio-Techne, net of tax:	$	8,069	$	(83,269)	$	(75,200)
Other comprehensive income (loss), before tax:
Amounts before reclassifications, attributable to Bio-Techne		3,536		(4,087)		(551)
Amounts reclassified out		619		152		771
Total other comprehensive income (loss), before tax		4,155		(3,935)		220
Tax (expense)/benefit		(145)		—		(145)
Total other comprehensive income (loss), net of tax		4,010		(3,935)		75
Balance as of December 31, 2022, net of tax⁽¹⁾	$	12,079	$	(87,204)	$	(75,125)

⁽¹⁾ The Company had a net deferred tax liability for its cash flow hedge of $2.7 million and $3.7 million for the six months ended December 31, 2023 and 2022, respectively,