10-Q Filing

BIO-TECHNE CORP CIK: 842023 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-023069`
Period End Date	20200930
Filing Date	20201109
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	tech20200930_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 40 Cash Flow Statement 64

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$775.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$146.62M	USD	Point-in-time
Undesignated capital stock, no par (in dollars per share)	`UndesignatedCapitalStockNoParValue`	-	USD	Point-in-time
Undesignated capital stock, no par (in dollars per share)	`UndesignatedCapitalStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$169.40M	USD	Point-in-time
Undesignated capital stock, shares authorized (in shares)	`UndesignatedCapitalStockSharesAuthorized`	5.00M	shares	Point-in-time
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$117.99M	USD	Point-in-time
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$124.27M	USD	Point-in-time
Undesignated capital stock, shares authorized (in shares)	`UndesignatedCapitalStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable, net of $1,429 and $775 of reserves, respectively	`AccountsReceivableNetCurrent`	$122.53M	USD	Point-in-time
Undesignated capital stock, shares issued (in shares)	`UndesignatedCapitalStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of $1,429 and $775 of reserves, respectively	`AccountsReceivableNetCurrent`	$122.64M	USD	Point-in-time
Undesignated capital stock, shares issued (in shares)	`UndesignatedCapitalStockSharesIssued`	0.00	shares	Point-in-time
Undesignated capital stock, shares outstanding (in shares)	`UndesignatedCapitalStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$106.00M	USD	Point-in-time
Inventories	`InventoryNet`	$103.15M	USD	Point-in-time
Undesignated capital stock, shares outstanding (in shares)	`UndesignatedCapitalStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$24.34M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$25.86M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$520.92M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$541.89M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38.60M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$191.68M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$176.83M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38.45M	shares	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$70.02M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	38.60M	shares	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$71.47M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	38.45M	shares	Point-in-time
Goodwill	`Goodwill`	$728.31M	USD	Point-in-time
Goodwill	`Goodwill`	$731.64M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$516.54M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$507.59M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.28M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$13.52M	USD	Point-in-time
Total assets	`Assets`	$2.03B	USD	Point-in-time
Total assets	`Assets`	$2.05B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$27.19M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$23.09M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$31.09M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$21.80M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$9.09M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$13.00M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$13.05M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$13.29M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.38M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.16M	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$9.70M	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$9.54M	USD	Point-in-time
Contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$5.94M	USD	Point-in-time
Contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$5.79M	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtCurrent`	$12.50M	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtCurrent`	$12.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$106.67M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$105.42M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$101.37M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$101.09M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$311.14M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$344.24M	USD	Point-in-time
Long-term contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$199.00K	USD	Point-in-time
Long-term contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$199.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$65.69M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$67.25M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$29.98M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$26.95M	USD	Point-in-time
Undesignated capital stock, no par; authorized 5,000,000 shares; none issued or outstanding	`UndesignatedCapitalStockValue`	-	USD	Point-in-time
Undesignated capital stock, no par; authorized 5,000,000 shares; none issued or outstanding	`UndesignatedCapitalStockValue`	-	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 38,601,131 and 38,453,046, respectively	`CommonStockValue`	$386.00K	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 38,601,131 and 38,453,046, respectively	`CommonStockValue`	$385.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$420.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$448.68M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.07B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.06B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-97.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-83.14M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.17B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.17B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.38B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.44B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$2.05B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$2.03B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$204.20M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$183.24M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$66.47M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$64.83M	USD	1 Quarter
Gross margin	`GrossProfit`	$118.41M	USD	1 Quarter
Gross margin	`GrossProfit`	$137.73M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$69.01M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$72.60M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$16.04M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$16.08M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$85.09M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$88.64M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$33.33M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$49.09M	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$-9.75M	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$-15.52M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$39.34M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.81M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$5.94M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$3.41M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$33.40M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$14.40M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$33.40M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$14.40M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-7.60M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$11.91M	USD	1 Quarter
Derivative instruments - cash flow hedges (Note 7)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-504.00K	USD	1 Quarter
Derivative instruments - cash flow hedges (Note 7)	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$2.14M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$14.06M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-8.11M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$47.45M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.29M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.87	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.83	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.37	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	38.54M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	38.03M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.02M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.25M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$33.40M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$14.40M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$33.40M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$14.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.09M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.09M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-452.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-607.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$12.95M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$8.37M	USD	2 Qtrs
Fair value adjustment to contingent consideration payable	`FairValueAdjustmentToContingentConsiderationPayable`	$700.00K	USD	2 Qtrs
Fair value adjustment to contingent consideration payable	`FairValueAdjustmentToContingentConsiderationPayable`	$-150.00K	USD	2 Qtrs
Fair value adjustment on available for sale investments	`FairValueAdjustmentOnAvailableForSaleSecurities`	$4.35M	USD	2 Qtrs
Fair value adjustment on available for sale investments	`FairValueAdjustmentOnAvailableForSaleSecurities`	$10.40M	USD	2 Qtrs
Other operating activity	`OtherOperatingActivitiesCashFlowStatement`	$195.00K	USD	2 Qtrs
Other operating activity	`OtherOperatingActivitiesCashFlowStatement`	$164.00K	USD	2 Qtrs
Trade accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-910.00K	USD	2 Qtrs
Trade accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$1.41M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$720.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.97M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-1.63M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.55M	USD	2 Qtrs
Trade accounts payable, accrued expenses, contract liabilities, and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.92M	USD	2 Qtrs
Trade accounts payable, accrued expenses, contract liabilities, and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.46M	USD	2 Qtrs
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-10.98M	USD	2 Qtrs
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-11.48M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.23M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.38M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$66.01M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$40.54M	USD	2 Qtrs
Proceeds from maturities of available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$29.04M	USD	2 Qtrs
Proceeds from maturities of available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$11.31M	USD	2 Qtrs
Purchases of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	$26.24M	USD	2 Qtrs
Purchases of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	$15.87M	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.94M	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.53M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.14M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.09M	USD	2 Qtrs
Cash dividends	`PaymentsOfDividendsCommonStock`	$12.17M	USD	2 Qtrs
Cash dividends	`PaymentsOfDividendsCommonStock`	$12.34M	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$15.42M	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$8.95M	USD	2 Qtrs
Repayments of long-term debt	`RepaymentsOfLinesOfCredit`	$19.12M	USD	2 Qtrs
Repayments of long-term debt	`RepaymentsOfLinesOfCredit`	$33.12M	USD	2 Qtrs
Other financing activity	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.89M	USD	2 Qtrs
Other financing activity	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.93M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.27M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-34.93M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-159.00K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-2.18M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$22.78M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-995.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$146.62M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$99.89M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$169.40M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$100.89M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$146.62M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$99.89M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$169.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$100.89M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$6.03M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$2.45M	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$4.24M	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$5.09M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.