Bio-Techne (TECH) 10-Q 8 Feb 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2020	Feb. 01, 2021
Document Information [Line Items]
Entity Central Index Key	0000842023
Entity Registrant Name	BIO-TECHNE Corp
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	0-17272
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1427402
Entity Address, Address Line One	614 McKinley Place N.E.
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55413
City Area Code	612
Local Phone Number	379-8854
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	TECH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,798,834

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Net sales	$ 224,253	$ 184,934	$ 428,452	$ 368,177
Cost of sales	73,353	63,531	139,821	128,361
Gross margin	150,900	121,403	288,631	239,816
Operating expenses:
Selling, general and administrative	83,116	68,030	155,714	137,040
Research and development	16,789	16,381	32,830	32,459
Total operating expenses	99,905	84,411	188,544	169,499
Operating income	50,995	36,992	100,087	70,317
Other (expense) income	5,373	113,334	(4,381)	97,812
Earnings before income taxes	56,368	150,326	95,706	168,129
Income taxes	10,224	30,704	16,168	34,111
Net earnings, including noncontrolling interest	46,144	119,622	79,538	134,018
Net earnings attributable to noncontrolling interest	(130)	0	(130)	0
Net earnings attributable to Bio-Techne	46,274	119,622	79,668	134,018
Other comprehensive (loss) income:
Foreign currency translation adjustments	16,928	11,867	28,842	4,265
Derivative instruments - cash flow hedges	2,059	1,408	4,202	904
Other comprehensive income (loss)	18,987	13,275	33,044	5,169
Other comprehensive income attributable to noncontrolling interest	83	0	83	0
Other comprehensive income attributable to Bio-Techne	18,904	13,275	32,961	5,169
Comprehensive income attributable to Bio-Techne	$ 65,178	$ 132,897	$ 112,629	$ 139,187
Earnings per share attributable to Bio-Techne:
Basic (in dollars per share)	$ 1.20	$ 3.13	$ 2.06	$ 3.51
Diluted (in dollars per share)	$ 1.15	$ 3.02	$ 1.98	$ 3.40
Weighted average common shares outstanding:
Basic (in shares)	38,691	38,167	38,614	38,100
Diluted (in shares)	40,257	39,550	40,135	39,370

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 165,526	$ 146,625
Short-term available-for-sale investments	117,426	124,268
Accounts receivable, net of $1,526 and $775 of reserves, respectively	128,243	122,534
Inventories	106,590	103,152
Other current assets	24,148	24,341
Total current assets	541,933	520,920
Property and equipment, net	195,602	176,829
Right of use asset	68,154	71,465
Goodwill	746,666	728,308
Intangible assets, net	504,172	516,545
Other assets	11,339	13,522
Total assets	2,067,866	2,027,589
Current liabilities:
Trade accounts payable	24,252	23,090
Salaries, wages and related accruals	31,907	31,087
Accrued expenses	13,973	9,093
Contract liabilities	13,217	13,049
Income taxes payable	3,658	2,376
Operating lease liabilities - current	9,912	9,535
Contingent consideration payable	4,983	5,938
Current portion of long-term debt obligations	12,500	12,500
Other current liabilities	3,166	0
Total current liabilities	117,568	106,668
Deferred income taxes	105,342	101,090
Long-term debt obligations	219,035	344,243
Long-term contingent consideration payable	5,599	199
Operating lease liabilities	63,672	67,248
Other long-term liabilities	25,796	26,949
Bio-Techne's shareholders' equity:
Undesignated capital stock, no par; authorized 5,000,000 shares; none issued or outstanding	0	0
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 38,765,300 and 38,453,046, respectively	388	385
Additional paid-in capital	481,004	420,536
Retained earnings	1,104,762	1,057,470
Accumulated other comprehensive loss	(64,238)	(97,199)
Total Bio-Techne shareholders' equity	1,521,916	1,381,192
Noncontrolling interest	8,938	0
Total shareholders’ equity	1,530,854	1,381,192
Total liabilities and shareholders’ equity	$ 2,067,866	$ 2,027,589

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Accounts receivable, allowance for doubtful accounts	$ 1,526	$ 775
Undesignated capital stock, no par (in dollars per share)	$ 0	$ 0
Undesignated capital stock, shares authorized (in shares)	5,000,000	5,000,000
Undesignated capital stock, shares issued (in shares)	0	0
Undesignated capital stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	38,765,300	38,453,046
Common stock, shares outstanding (in shares)	38,765,300	38,453,046

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 79,538	$ 134,018
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	41,972	40,638
Costs recognized on sale of acquired inventory	23	0
Deferred income taxes	216	14,805
Stock-based compensation expense	28,531	18,495
Contingent consideration payments	(155)	(145)
Fair value adjustment to contingent consideration payable	4,600	100
Fair value adjustment on available for sale investments	(6,356)	(110,856)
Leases, net	113	177
Other operating activity	324	160
Change in operating assets and operating liabilities, net of acquisition:
Trade accounts and other receivables, net	(2,327)	9,950
Inventories	(586)	(4,381)
Other current assets	(1,508)	(1,320)
Trade accounts payable, accrued expenses, contract liabilities, and other	8,624	7,115
Salaries, wages and related accruals	(1,713)	(10,185)
Income taxes payable	3,982	12,386
Net cash provided by (used in) operating activities	155,278	110,957
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale and maturities of available-for-sale investments	43,146	68,398
Purchases of available-for-sale investments	(27,184)	(25,099)
Additions to property and equipment	(22,383)	(25,089)
Acquisitions, net of cash acquired	(9,765)	0
Other investing activity	(556)	0
Net cash provided by (used in) investing activities	(16,742)	18,210
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends	(24,728)	(24,365)
Proceeds from stock option exercises	32,337	27,247
Re-purchase of common stock	0	0
Proceeds from long-term debt	0	0
Repayments of long-term debt	(125,250)	(122,250)
Other financing activity	(7,371)	(1,928)
Net cash provided by (used in) financing activities	(125,012)	(121,296)
Effect of exchange rate changes on cash and cash equivalents	5,377	1,535
Net increase (decrease) in cash and cash equivalents	18,901	9,406
Cash and cash equivalents at beginning of period	146,625	100,886
Cash and cash equivalents at end of period	165,526	110,293
Supplemental disclosure of cash flow information:
Cash paid for income taxes	11,007	7,037
Cash paid for interest	$ 7,779	$ 9,869

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. The interim consolidated financial statements of Bio-Techne Corporation and subsidiaries, (the Company) presented here have been prepared by the Company and are unaudited. They have been prepared in accordance with accounting principles generally accepted in the United States of America and with instructions to Form 10 10 X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These interim unaudited condensed consolidated financial statements should be read in conjunction with the Company's Consolidated Financial Statements and Notes thereto for the fiscal year ended June 30, 2020, 10 2020. 10 2020. During the six December 31, 2020, two 10 2020. Recently Adopted Accounting Pronouncements In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 July 1, 2020 not In August 2018, No. 2018 15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract not July 1, 2020. Pronouncements Issued But Not In March 2020, No. 2020 04 , Facilitation of the Effects of Reference Rate Reform on Financial Reporting 2021, 2020 04

Note 2 - Revenue Recognition

Note 2 - Revenue Recognition	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Note 2. Consumables revenues consist of single-use products and are recognized at a point in time following the transfer of control of such products to the customer, which generally occurs upon shipment. Instruments revenues typically consist of longer-lived assets that, for the substantial majority of sales, are recognized at a point in time in a manner similar to consumables. Service revenues consist of extended warranty contracts, post contract support (“PCS”), and custom development projects that are recognized over time as either the customers receive and consume the benefits of such services simultaneously or the underlying asset being developed has no 2021, not not not not December 1, 2019, July 1, 2020 2021 July 1, 2020 not third The Company elected the exemption to not one not December 31, 2020. Contracts with customers that contain instruments may Payment terms for shipments to end-users are generally net 30 may 30 90 Contract assets include revenues recognized in advance of billings. Contract assets are included within other current assets in the accompanying balance sheet as the amount of time expected to lapse until the company's right to consideration becomes unconditional is less than one one December 31, 2020 not Contract liabilities include billings in excess of revenues recognized, such as those resulting from customer advances and deposits and unearned revenue on warranty contracts. Contra ct liabilities as of December 31, 2020 June 30, 2020 June 30, 2020 six December 31, 2020 one Any claims for credit or return of goods must be made within 10 not Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenue. Amounts billed to customers for shipping and handling are included in revenue, while the related shipping and handling costs are reflected in cost of products. We elected the practical expedient that allows us to account for shipping and handling activities that occur after the customer has obtained control of a good as a fulfillment cost, and we accrue costs of shipping and handling when the related revenue is recognized. The following tables present our disaggregated revenue for the periods presented. Revenue by type is as follows: Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 Consumables $ 177,464 $ 149,257 $ 344,091 $ 300,702 Instruments 26,529 19,983 46,101 36,976 Services 15,175 10,868 30,639 21,491 Total product and services revenue, net $ 219,168 $ 180,108 $ 420,831 $ 359,168 Royalty revenues 5,085 4,826 7,621 9,009 Total revenues, net $ 224,253 $ 184,934 $ 428,452 $ 368,177 Revenue by geography is as follows: Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 United States $ 114,439 $ 99,665 $ 228,001 $ 202,017 EMEA, excluding United Kingdom 49,936 38,081 93,070 76,885 United Kingdom 9,852 7,865 18,386 15,454 APAC, excluding Greater China 18,008 15,784 33,742 29,789 Greater China 25,165 19,793 43,218 35,873 Rest of World 6,853 3,746 12,035 8,159 Total revenues, net $ 224,253 $ 184,934 $ 428,452 $ 368,177

Note 3 - Selected Balance Sheet

Note 3 - Selected Balance Sheet Data	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	Note 3. Inventories: Inventories consist of (in thousands): December 31, June 30, 2020 2020 Raw materials $ 52,368 $ 51,530 Finished goods (1) 59,194 56,268 Inventories, net $ 111,562 $ 107,798 ( 1 and $4,646 included within other long-term a December 31, 2020 June 30, 2020, 12 Property and Equipment: Property and equipment consist of (in thousands): December 31, June 30, 2020 2020 Land $ 8,584 $ 8,516 Buildings and improvements 189,068 184,430 Machinery and equipment 179,341 153,704 Property and equipment, cost 376,993 346,650 Accumulated depreciation and amortization (181,391 ) (169,821 ) Property and equipment, net $ 195,602 $ 176,829 Intangible Assets: Intangible assets consist of (in thousands): December 31, June 30, 2020 2020 Developed technology $ 444,499 $ 434,653 Trade names 145,288 146,713 Customer relationships 219,583 211,750 Patents and other intangibles (1) 7,728 2,475 Intangible assets 817,098 795,591 Accumulated amortization (312,926 ) (279,046 ) Intangible assets, net $ 504,172 $ 516,545 ( 1 Increase in patents and other intangible assets is primarily due to $5.0 million recognized in intangible assets in the first 2021 third third party patented technology acquired was a non-cash activity within the condensed consolidated statement of cash flows as a cash payment was not six December 31, 2020. Changes to the carrying amount of net intangible assets for the quarter ended December 31, 2020 Beginning balance $ 516,545 Acquisitions 8,919 Other additions 5,338 Amortization expense (30,804 ) Currency translation 4,174 Ending balance $ 504,172 The estimated future amortization expense for intangible assets as of December 31, 2020 2021 remainder $ 30,460 2022 59,526 2023 57,634 2024 54,988 2025 51,770 Thereafter 249,794 Total $ 504,172 Goodwill: Changes to the carrying amount of goodwill for the quarter ended December 31, 2020 Protein Sciences Diagnostics and Genomics Total Beginning balance $ 373,081 $ 355,228 $ 728,308 Acquisitions 8,811 - 8,811 Currency translation 9,303 243 9,547 Ending balance $ 391,195 $ 355,471 $ 746,666 We evaluate the carrying value of goodwill in the fourth fourth 2020. No No December 31, 2020. no 350 July 1, 2002.

Note 4 - Acquisitions

Note 4 - Acquisitions	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 4. We periodically complete business combinations that align with our business strategy. Acquisitions are accounted for using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized at fair value as of the acquisition date and the results of operations of each acquired business are included in our consolidated statements of comprehensive income from their respective dates of acquisition. Acquisition costs are recorded in selling, general and administrative expenses as incurred. Eminence Biotechnology On October 20, 2020, December 31, 2020, December 31, 2020, As Eminence was considered a variable interest entity with the Company being the primary beneficiary, the transaction was accounted for in accordance with ASC 805, 805 one no December 31, 2020. The goodwill recorded as result of the acquisition represents the strategic benefits of growing the Company’s product portfolio and the expected revenue growth from increased market penetration. The fair value of the noncontrolling interest in Eminence was calculated utilizing cash flow projections discounted to the acquisition date and control premiums calculated using market data. Acquired goodwill is not second 2021. Certain estimated fair values are not 2021 Preliminary Allocation at Acquisition Date Current assets, net of cash $ 3,145 Equipment and other long-term assets 1,639 Intangible assets: Developed technology 6,778 Customer relationships 2,133 Goodwill 8,811 Total assets acquired 22,506 Liabilities 1,436 Deferred income taxes, net 2,320 Net assets acquired $ 18,750 Cash paid, net of cash acquired $ 9,765 Fair value of noncontrolling interest in Eminence 8,985 Net assets acquired $ 18,750 Tangible assets and liabilities acquired were recorded at fair value on the date of close based on management's assessment. The purchase price allocated to developed technology and customer relationships was based on management's forecasted cash inflows and outflows and using a multiperiod excess earnings method to calculate the fair value of assets purchased. The amount recorded for developed technology is being amortized with the expense reflected in cost of goods sold in the Condensed Consolidated Statement of Earnings and Comprehensive Income. The amortization period for developed technology is estimated to be 13 years. Amortization expense related to customer relationships is reflected in selling, general and administrative expenses in the Consolidated Statement of Earnings and Comprehensive Income. The amortization period for customer relationships is estimated to be 10 years. The net deferred income tax liability represents the net amount of the estimated future impact of adjustments for costs to be recognized as intangible asset amortization, which is not

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	Note 5 . Fair Value Measurements: The Company’s financial instruments include cash and cash equivalents, available for sale investments, derivative instruments, accounts receivable, accounts payable, contingent consideration obligations, and long-term debt. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. This standard also establishes a hierarchy for inputs used in measuring fair value. This standard maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability based on market data obtained from independent sources. Unobservable inputs are inputs that reflect our assumptions about the factors market participants would use in valuing the asset or liability based upon the best information available in the circumstances. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three 1 2 not 3 one 3 may The following tables provide information by level for financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): Total carrying value as of Fair Value Measurements Using Inputs Considered as December 31, 2020 Level 1 Level 2 Level 3 Assets Equity securities (1) $ 94,198 $ 85,924 $ 8,274 $ - Certificates of deposit (2) 23,228 23,228 - - Total assets $ 117,426 $ 109,152 $ 8,274 $ - Liabilities Contingent consideration $ 10,582 $ - $ - $ 10,582 Derivative instruments - cash flow hedges 12,314 - 12,314 - Total liabilities $ 22,896 $ - $ 12,314 $ 10,582 Total carrying value as of Fair Value Measurements Using Inputs Considered as June 30, 2020 Level 1 Level 2 Level 3 Assets Equity securities (1) $ 87,842 $ 79,846 $ 7,996 $ - Certificates of deposit (2) 36,426 36,426 - - Total assets $ 124,268 $ 116,272 $ 7,996 $ - Liabilities Contingent consideration $ 6,137 $ - $ - $ 6,137 Derivative instruments - cash flow hedges 17,331 - 17,331 - Total liabilities $ 23,468 $ - $ 17,331 $ 6,137 ( 1 Included in available-for-sale investments on the balance sheet. The cost basis in the Company's investment in ChemoCentryx Inc (CCXI) at December 31, 2020 June 30, 2020 December 31, 2020 June 30 2020, ( 2 Included in available-for-sale investments on the balance sheet. The certificate of deposits have contractual maturity dates within one Fair value measurements of available for sale securities Our available for sale securities are measured at fair value using quoted market prices in active markets for identical assets and are therefore classified as Level 1 Fair value measurements of derivative instruments In October 2018, 6 October 2020 October 2021 October 2022. June 2020, October 2020. June 2020 not two December 2020, October 2021. December 31, 2020. not not not December 31, 2020. Changes in the fair value of the designated hedged instrument are reported as a component of other comprehensive income and reclassified into interest expense over the corresponding term of the cash flow hedge. The Company reclassified $5.0 million to interest expense, $0.5 million to non-operating income for the portion of de-designated variable payments considered probable to not six December 31, 2020. six December 31, 2019. 2 Fair value measurements of contingent consideration In connection with the QT Holdings Corporation (Quad) and B-MoGen Biotechnologies Inc. (B-MoGen) acquisitions the Company is required to make contingent consideration payments of up to $51.0 million and $38.0 million, respectively. The contingent consideration payments are subject to Quad and B-Mogen meeting certain product development milestones and revenue thresholds. The preliminary fair value of the liabilities for the contingent payments recognized upon the acquisition as part of the purchase accounting opening balance sheet totaled $10.8 million ($5.3 million for Quad and $5.5 million for B-MoGen). The preliminary fair value of the development milestone payments was estimated by discounting to present value the probability-weighted contingent payments expected to be made. Assumptions used in these calculations were probability of success, duration of the earn-out, and discount rate. The preliminary fair value for the revenue milestone payments was determined using a Monte Carlo simulation based model discounted to present value. Assumptions used in these calculations included units sold, expected revenue, discount rate and various probability factors. The ultimate settlement of contingent consideration could deviate from current estimates based on the actual results of these financial measures. This liability is considered to be a Level 3 The following table presents a reconciliation of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3 six December 31, 2020 ( Quarter Ended Six Months Ended December 31, 2020 December 31 , 2020 Fair value at the beginning of period $ 5,987 $ 6,137 Change in fair value of contingent consideration 4,750 4,600 Payments (155 ) (155 ) Fair value at the end of period $ 10,582 $ 10,582 The use of different assumptions, applying different judgment to matters that inherently are subjective and changes in future market conditions could result in different estimates of fair value of our securities or contingent consideration, currently and in the future. If market conditions deteriorate, we may Fair value measurements of other financial instruments Cash and cash equivalents, certificates of deposit, accounts receivable, and accounts payable – The carrying amounts reported in the consolidated balance sheets approximate fair value because of the short-term nature of these items. Long-term debt – The carrying amounts reported in the consolidated balance sheets for the amount drawn on our line-of-credit facility approximates fair value because our interest rate is variable and reflects current market rates.

Note 6 - Debt and Other Financi

Note 6 - Debt and Other Financing Arrangements	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 6. On August 1, 2018, may The Credit Agreement matures on August 1, 2023 December 31, 2020,

Note 7 - Leases

Note 7 - Leases	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 7. As a lessee, the company leases offices, labs, and manufacturing facilities, as well as vehicles, copiers, and other equipment. The Company adopted ASU No. 2016 02 842, Leases July 1, 2019. The Company recognizes operating lease expense on a straight-line basis over the lease term. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The discount rate used to calculate present value is Bio-Techne’s incremental borrowing rate or, if available, the rate implicit in the lease. Bio-Techne determines the incremental borrowing rate for each lease based primarily on its lease term and the economic environment of the applicable country or region. During the six December 31, 2020, The following table summarizes the balance sheet classification of the Company’s operating leases and amounts of right of use assets and lease liabilities and the weighted average remaining lease term and weighted average discount rate for the Company’s operating leases (asset and liability amounts are in thousands): Balance Sheet Classification As of: December 31, 2020 Operating leases: Operating lease right of use assets Right of Use Asset $ 68,154 Current operating lease liabilities Operating lease liabilities current $ 9,912 Noncurrent operating lease liabilities Operating lease liabilities 63,672 Total operating lease liabilities $ 73,584 Weighted average remaining lease term (in years): 8.37 Weighted average discount rate: 4.38 % The following table summarizes the cash paid for amounts included in the measurement of operating lease liabilities and right of use assets obtained in exchange for new operating lease liabilities for the three Six months ended December 31, 2020 Cash amounts paid on operating lease liabilities $ 6,449 Right of use assets obtained in exchange for lease liabilities 939 The following table summarizes the fair value of the lease liability by payment date for the Company’s operating leases by fiscal year (in thousands): Operating Leases Remainder of 2021 $ 6,413 2022 12,449 2023 11,477 2024 10,491 2025 9,589 Thereafter 37,925 Total $ 88,344 Less: Amounts representing interest 14,760 Total Lease obligations $ 73,584 Certain leases include one five not

Note 8 - Supplemental Equity an

Note 8 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	Note 8. Supplemental Equity and Accumulated Other Comprehensive Income (Loss): Supplemental Equity The Company has declared cash dividends per share of $0.32 and $ 0.64 in both the three six December 31, 2020 2019, 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, 2020 38,453 $ 385 $ 420,536 $ 1,057,470 $ (97,199 ) $ - $ 1,381,192 Cumulative effect adjustments due to adoption of new accounting standards (276 ) (276 ) Net earnings 33,395 33,395 Other comprehensive income 14,057 14,057 Common stock issued for exercise of options 117 1 13,727 13,728 Common stock issued for restricted stock awards 25 0 (0 ) (4,890 ) (4,890 ) Cash dividends (12,336 ) (12,336 ) Stock-based compensation expense 12,667 12,667 Common stock issued to employee stock purchase plan 6 0 1,463 1,463 Employee stock purchase plan expense 286 286 Balances at September 30, 2020 38,601 $ 386 $ 448,679 $ 1,073,362 $ (83,142 ) $ - $ 1,439,285 Non-controlling interest in Eminence 8,985 8,985 Net earnings 46,274 (130 ) 46,144 Other comprehensive income 18,904 83 18,987 Common stock issued for exercise of options 161 2 16,748 (2,482 ) 14,268 Common stock issued for restricted stock awards 3 0 (0 ) 0 0 Cash dividends (12,392 ) (12,392 ) Stock-based compensation expense 15,471 15,471 Employee stock purchase plan expense 106 106 Balances at December 31, 2020 38,765 $ 388 $ 481,004 $ 1,104,762 $ (64,238 ) $ 8,938 $ 1,530,854 Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Earnings Income(Loss) Total Balances at June 30, 2019 37,934 $ 379 $ 316,797 $ 931,934 $ (83,521 ) $ 1,165,589 Cumulative effect adjustments due to adoption of new accounting standards and other (879 ) (879 ) Net earnings 14,398 14,398 Other comprehensive loss (8,106 ) (8,106 ) Common stock issued for exercise of options 94 1 7,854 7,855 Common stock issued for restricted stock awards 50 0 (0 ) (1,926 ) (1,926 ) Cash dividends (12,169 ) (12,169 ) Stock-based compensation expense 8,267 8,267 Common stock issued to employee stock purchase plan 6 0 1,096 1,096 Employee stock purchase plan expense 99 99 Balances at September 30, 2019 38,084 $ 381 $ 334,112 $ 931,358 $ (91,627 ) $ 1,174,224 Net earnings 119,622 119,622 Other comprehensive loss 13,275 13,275 Common stock issued for exercise of options 195 2 18,293 18,295 Common stock issued for restricted stock awards 4 0 (0 ) 0 Cash dividends (12,197 ) (12,197 ) Stock-based compensation expense 10,017 10,017 Common stock issued to employee stock purchase plan 0 Employee stock purchase plan expense 112 112 Balances at December 31, 2019 38,283 $ 383 $ 362,534 $ 1,038,783 $ (78,352 ) $ 1,323,348 Accumulated Other Comprehensive Income The components of other comprehensive income (loss) consist of changes in foreign currency translation adjustments and changes in net unrealized gains (losses) on derivative instruments designated as cash flow hedges. The Company reclassified $4.2 million, net of taxes, from accumulated other comprehensive income (loss) to earnings during the six December 31, 2020. six December 31, 2019. The accumulated balances related to each component of other comprehensive income (loss) attributable to Bio-Techne, net of tax, are summarized as follows: Unrealized Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balance as of June 30, 2020 attributable to Bio-Techne $ (13,253 ) $ (83,946 ) $ (97,199 ) Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne (47) 28,759 28,712 Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (1) 4,249 - 4,249 Balance as of December 31, 2020 attributable to Bio-Techne (3) $ (9,051 ) $ (55,187 ) $ (64,238 ) Unrealized Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balance as of June 30, 2019 attributable to Bio-Techne $ (9,537 ) $ (73,983 ) $ (83,521 ) Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne 275 4,264 4,539 Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (2) 629 - 629 Balance as of December 31, 2019 attributable to Bio-Techne (3) $ (8,633 ) $ (69,719 ) $ (78,352 ) ( 1 not 6 six December 31, 2020. six December 31, 2020. ( 2 six December 31, 2019. ( 3 December 31, 2020 June 30, 2020,

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 9. Earnings Per Share: The following table reflects the calculation of basic and diluted earnings per share (in thousands, except per share amounts): Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 Earnings per share – basic: Net earnings, including noncontrolling interest $ 46,144 119,622 79,538 134,018 Less net earnings attributable to noncontrolling interest (130 ) - (130 ) - Net earnings attributable to Bio-Techne $ 46,274 $ 119,622 $ 79,668 $ 134,018 Income allocated to participating securities (37 ) (172 ) (50 ) (258 ) Income available to common shareholders $ 46,237 $ 119,450 $ 79,618 $ 133,760 Weighted-average shares outstanding – basic 38,691 38,167 38,614 38,100 Earnings per share – basic $ 1.20 $ 3.13 $ 2.06 $ 3.51 Earnings per share – diluted: Net earnings, including noncontrolling interest $ 46,144 $ 119,622 $ 79,538 $ 134,018 Less net earnings attributable to noncontrolling interest (130 ) - (130 ) - Net earnings attributable to Bio-Techne $ 46,274 $ 119,622 $ 79,668 $ 134,018 Income allocated to participating securities (37 ) (172 ) (50 ) (258 ) Income available to common shareholders $ 46,237 $ 119,450 $ 79,618 $ 133,760 Weighted-average shares outstanding – basic 38,691 38,167 38,614 38,100 Dilutive effect of stock options and restricted stock units 1,566 1,383 1,521 1,270 Weighted-average common shares outstanding – diluted 40,257 39,550 40,135 39,370 Earnings per share – diluted $ 1.15 $ 3.02 $ 1.98 $ 3.40 The dilutive effect of stock options and restricted stock units in the above table excludes all options for which the aggregate exercise proceeds exceeded the average market price for the period. The number of potentially dilutive option shares excluded from the calculation was 1.6 million and 1.3 million for the quarter ended December 31, 2020 2019, six December 31, 2020 2019

Note 10 - Share-based Compensat

Note 10 - Share-based Compensation	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	Note 10. During the six December 31, 2020 2019, six December 31, 2020 2019, and $ 192.08, respectively. During the six December 31, 2020 2019, s of restricted common stock shares at a weighted average fair va Stock options for 293,262 and 287,595 shares of common stock with total intrinsic values of $50.6 million and $35.3 million were exercised during the six December 31, 2020 2019, Stock-based compensation expense, inclusive of employer payroll tax, of $15.6 million and $10.1 million was included in selling, general and administrative expenses for the quarter ended December 31, 2020 2019, six December 31, 2020 2019, six December 31, 2020 As of December 31, 2020,

Note 11 - Other Income (Expense

Note 11 - Other Income (Expense)	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	Note 11. The components of other income (expense) in the accompanying Statement of Earnings and Comprehensive Income are as follows: Quarter Ended Six Months December 31, December 31, 2020 2019 2020 2019 Interest expense $ (3,585 ) $ (4,872 ) $ (8,002 ) $ (10,094 ) Interest income 78 231 192 341 Other non-operating income (expense), net (1) 8,880 117,975 3,429 107,565 Total other income (expense) $ 5,373 $ 113,334 $ (4,381 ) $ 97,812 ( 1 5

Note 12 - Income Taxes

Note 12 - Income Taxes	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 12. The Company’s effective income tax rate for the second 2021 2020 first six 2021 2020, six December 31, 2020 six December 31, 2019 2021 The Company recognized total net benefits related to discrete tax items of $3.7 million and $7.8 million during the quarter and six December 31, 2020, six December 31, 2019, six December 31, 2020, six December 31, 2019, six December 31, 2020, six December 31, 2019, The Company continues to monitor changes in interpretations, assumptions guidance, and additional regulations regarding the Tax Cuts and Jobs Act (the “Tax Act”), which was enacted on December 22, 2017.

Note 13 - Segment Information

Note 13 - Segment Information	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 13. The Company's management evaluates segment operating performance based on operating income before certain charges to cost of sales and selling, general and administrative expenses, principally associated with acquisition accounting related to inventory, amortization of acquisition-related intangible assets and other acquisition-related expenses. The Protein Sciences and Diagnostics and Genomics segments both include consumables, instruments, services and royalty revenue. The following is financial information relating to the Company's reportable segments (in thousands): Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 Net sales: Protein Sciences $ 172,179 $ 141,517 $ 326,625 $ 282,512 Diagnostics and Genomics 52,469 43,846 102,595 86,397 Intersegment (395 ) (429 ) (768 ) (732 ) Consolidated net sales $ 224,253 $ 184,934 $ 428,452 $ 368,177 Operating income: Protein Sciences $ 80,246 $ 60,872 $ 150,598 $ 120,410 Diagnostics and Genomics 8,107 975 16,781 1,875 Segment operating income $ 88,353 $ 61,847 $ 167,379 $ 122,285 Costs recognized on sale of acquired inventory (23 ) - (23 ) - Amortization of acquisition related intangible assets (15,027 ) (15,108 ) (30,528 ) (30,008 ) Acquisition related expenses (4,421 ) 881 (4,558 ) (429 ) Stock based compensation (16,225 ) (10,618 ) (29,558 ) (19,418 ) Restructure costs (142) - (142 ) - Corporate general, selling, and administrative expenses (1,520 ) (12 ) (2,482 ) (2,113 ) Consolidated operating income $ 50,995 $ 36,992 $ 100,087 $ 70,317

Note 14 - Subsequent Events

Note 14 - Subsequent Events	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	Note 14. None.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 July 1, 2020 not In August 2018, No. 2018 15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract not July 1, 2020. Pronouncements Issued But Not In March 2020, No. 2020 04 , Facilitation of the Effects of Reference Rate Reform on Financial Reporting 2021, 2020 04

Note 2 - Revenue Recognition (T

Note 2 - Revenue Recognition (Tables)	6 Months Ended
	Dec. 31, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 Consumables $ 177,464 $ 149,257 $ 344,091 $ 300,702 Instruments 26,529 19,983 46,101 36,976 Services 15,175 10,868 30,639 21,491 Total product and services revenue, net $ 219,168 $ 180,108 $ 420,831 $ 359,168 Royalty revenues 5,085 4,826 7,621 9,009 Total revenues, net $ 224,253 $ 184,934 $ 428,452 $ 368,177 Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 United States $ 114,439 $ 99,665 $ 228,001 $ 202,017 EMEA, excluding United Kingdom 49,936 38,081 93,070 76,885 United Kingdom 9,852 7,865 18,386 15,454 APAC, excluding Greater China 18,008 15,784 33,742 29,789 Greater China 25,165 19,793 43,218 35,873 Rest of World 6,853 3,746 12,035 8,159 Total revenues, net $ 224,253 $ 184,934 $ 428,452 $ 368,177

Note 3 - Selected Balance She_2

Note 3 - Selected Balance Sheet Data (Tables)	6 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, June 30, 2020 2020 Raw materials $ 52,368 $ 51,530 Finished goods (1) 59,194 56,268 Inventories, net $ 111,562 $ 107,798
Property, Plant and Equipment [Table Text Block]	December 31, June 30, 2020 2020 Land $ 8,584 $ 8,516 Buildings and improvements 189,068 184,430 Machinery and equipment 179,341 153,704 Property and equipment, cost 376,993 346,650 Accumulated depreciation and amortization (181,391 ) (169,821 ) Property and equipment, net $ 195,602 $ 176,829
Schedule of Intangible Assets and Goodwill [Table Text Block]	December 31, June 30, 2020 2020 Developed technology $ 444,499 $ 434,653 Trade names 145,288 146,713 Customer relationships 219,583 211,750 Patents and other intangibles (1) 7,728 2,475 Intangible assets 817,098 795,591 Accumulated amortization (312,926 ) (279,046 ) Intangible assets, net $ 504,172 $ 516,545
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Beginning balance $ 516,545 Acquisitions 8,919 Other additions 5,338 Amortization expense (30,804 ) Currency translation 4,174 Ending balance $ 504,172
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2021 remainder $ 30,460 2022 59,526 2023 57,634 2024 54,988 2025 51,770 Thereafter 249,794 Total $ 504,172
Schedule of Goodwill [Table Text Block]	Protein Sciences Diagnostics and Genomics Total Beginning balance $ 373,081 $ 355,228 $ 728,308 Acquisitions 8,811 - 8,811 Currency translation 9,303 243 9,547 Ending balance $ 391,195 $ 355,471 $ 746,666

Note 4 - Acquisitions (Tables)

Note 4 - Acquisitions (Tables)	6 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Preliminary Allocation at Acquisition Date Current assets, net of cash $ 3,145 Equipment and other long-term assets 1,639 Intangible assets: Developed technology 6,778 Customer relationships 2,133 Goodwill 8,811 Total assets acquired 22,506 Liabilities 1,436 Deferred income taxes, net 2,320 Net assets acquired $ 18,750 Cash paid, net of cash acquired $ 9,765 Fair value of noncontrolling interest in Eminence 8,985 Net assets acquired $ 18,750

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Total carrying value as of Fair Value Measurements Using Inputs Considered as December 31, 2020 Level 1 Level 2 Level 3 Assets Equity securities (1) $ 94,198 $ 85,924 $ 8,274 $ - Certificates of deposit (2) 23,228 23,228 - - Total assets $ 117,426 $ 109,152 $ 8,274 $ - Liabilities Contingent consideration $ 10,582 $ - $ - $ 10,582 Derivative instruments - cash flow hedges 12,314 - 12,314 - Total liabilities $ 22,896 $ - $ 12,314 $ 10,582 Total carrying value as of Fair Value Measurements Using Inputs Considered as June 30, 2020 Level 1 Level 2 Level 3 Assets Equity securities (1) $ 87,842 $ 79,846 $ 7,996 $ - Certificates of deposit (2) 36,426 36,426 - - Total assets $ 124,268 $ 116,272 $ 7,996 $ - Liabilities Contingent consideration $ 6,137 $ - $ - $ 6,137 Derivative instruments - cash flow hedges 17,331 - 17,331 - Total liabilities $ 23,468 $ - $ 17,331 $ 6,137
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Quarter Ended Six Months Ended December 31, 2020 December 31 , 2020 Fair value at the beginning of period $ 5,987 $ 6,137 Change in fair value of contingent consideration 4,750 4,600 Payments (155 ) (155 ) Fair value at the end of period $ 10,582 $ 10,582

Note 7 - Leases (Tables)

Note 7 - Leases (Tables)	6 Months Ended
	Dec. 31, 2020
Notes Tables
Lessee, Operating Lease, Asset and Liabilities [Table Text Block]	Balance Sheet Classification As of: December 31, 2020 Operating leases: Operating lease right of use assets Right of Use Asset $ 68,154 Current operating lease liabilities Operating lease liabilities current $ 9,912 Noncurrent operating lease liabilities Operating lease liabilities 63,672 Total operating lease liabilities $ 73,584 Weighted average remaining lease term (in years): 8.37 Weighted average discount rate: 4.38 %
Lessee, Operating Lease, Cash Flow Information [Table Text Block]	Six months ended December 31, 2020 Cash amounts paid on operating lease liabilities $ 6,449 Right of use assets obtained in exchange for lease liabilities 939
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Operating Leases Remainder of 2021 $ 6,413 2022 12,449 2023 11,477 2024 10,491 2025 9,589 Thereafter 37,925 Total $ 88,344 Less: Amounts representing interest 14,760 Total Lease obligations $ 73,584

Note 8 - Supplemental Equity _2

Note 8 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	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, 2020 38,453 $ 385 $ 420,536 $ 1,057,470 $ (97,199 ) $ - $ 1,381,192 Cumulative effect adjustments due to adoption of new accounting standards (276 ) (276 ) Net earnings 33,395 33,395 Other comprehensive income 14,057 14,057 Common stock issued for exercise of options 117 1 13,727 13,728 Common stock issued for restricted stock awards 25 0 (0 ) (4,890 ) (4,890 ) Cash dividends (12,336 ) (12,336 ) Stock-based compensation expense 12,667 12,667 Common stock issued to employee stock purchase plan 6 0 1,463 1,463 Employee stock purchase plan expense 286 286 Balances at September 30, 2020 38,601 $ 386 $ 448,679 $ 1,073,362 $ (83,142 ) $ - $ 1,439,285 Non-controlling interest in Eminence 8,985 8,985 Net earnings 46,274 (130 ) 46,144 Other comprehensive income 18,904 83 18,987 Common stock issued for exercise of options 161 2 16,748 (2,482 ) 14,268 Common stock issued for restricted stock awards 3 0 (0 ) 0 0 Cash dividends (12,392 ) (12,392 ) Stock-based compensation expense 15,471 15,471 Employee stock purchase plan expense 106 106 Balances at December 31, 2020 38,765 $ 388 $ 481,004 $ 1,104,762 $ (64,238 ) $ 8,938 $ 1,530,854 Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Earnings Income(Loss) Total Balances at June 30, 2019 37,934 $ 379 $ 316,797 $ 931,934 $ (83,521 ) $ 1,165,589 Cumulative effect adjustments due to adoption of new accounting standards and other (879 ) (879 ) Net earnings 14,398 14,398 Other comprehensive loss (8,106 ) (8,106 ) Common stock issued for exercise of options 94 1 7,854 7,855 Common stock issued for restricted stock awards 50 0 (0 ) (1,926 ) (1,926 ) Cash dividends (12,169 ) (12,169 ) Stock-based compensation expense 8,267 8,267 Common stock issued to employee stock purchase plan 6 0 1,096 1,096 Employee stock purchase plan expense 99 99 Balances at September 30, 2019 38,084 $ 381 $ 334,112 $ 931,358 $ (91,627 ) $ 1,174,224 Net earnings 119,622 119,622 Other comprehensive loss 13,275 13,275 Common stock issued for exercise of options 195 2 18,293 18,295 Common stock issued for restricted stock awards 4 0 (0 ) 0 Cash dividends (12,197 ) (12,197 ) Stock-based compensation expense 10,017 10,017 Common stock issued to employee stock purchase plan 0 Employee stock purchase plan expense 112 112 Balances at December 31, 2019 38,283 $ 383 $ 362,534 $ 1,038,783 $ (78,352 ) $ 1,323,348
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Unrealized Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balance as of June 30, 2020 attributable to Bio-Techne $ (13,253 ) $ (83,946 ) $ (97,199 ) Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne (47) 28,759 28,712 Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (1) 4,249 - 4,249 Balance as of December 31, 2020 attributable to Bio-Techne (3) $ (9,051 ) $ (55,187 ) $ (64,238 ) Unrealized Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balance as of June 30, 2019 attributable to Bio-Techne $ (9,537 ) $ (73,983 ) $ (83,521 ) Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne 275 4,264 4,539 Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (2) 629 - 629 Balance as of December 31, 2019 attributable to Bio-Techne (3) $ (8,633 ) $ (69,719 ) $ (78,352 )

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 Earnings per share – basic: Net earnings, including noncontrolling interest $ 46,144 119,622 79,538 134,018 Less net earnings attributable to noncontrolling interest (130 ) - (130 ) - Net earnings attributable to Bio-Techne $ 46,274 $ 119,622 $ 79,668 $ 134,018 Income allocated to participating securities (37 ) (172 ) (50 ) (258 ) Income available to common shareholders $ 46,237 $ 119,450 $ 79,618 $ 133,760 Weighted-average shares outstanding – basic 38,691 38,167 38,614 38,100 Earnings per share – basic $ 1.20 $ 3.13 $ 2.06 $ 3.51 Earnings per share – diluted: Net earnings, including noncontrolling interest $ 46,144 $ 119,622 $ 79,538 $ 134,018 Less net earnings attributable to noncontrolling interest (130 ) - (130 ) - Net earnings attributable to Bio-Techne $ 46,274 $ 119,622 $ 79,668 $ 134,018 Income allocated to participating securities (37 ) (172 ) (50 ) (258 ) Income available to common shareholders $ 46,237 $ 119,450 $ 79,618 $ 133,760 Weighted-average shares outstanding – basic 38,691 38,167 38,614 38,100 Dilutive effect of stock options and restricted stock units 1,566 1,383 1,521 1,270 Weighted-average common shares outstanding – diluted 40,257 39,550 40,135 39,370 Earnings per share – diluted $ 1.15 $ 3.02 $ 1.98 $ 3.40

Note 11 - Other Income (Expen_2

Note 11 - Other Income (Expense) (Tables)	6 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Quarter Ended Six Months December 31, December 31, 2020 2019 2020 2019 Interest expense $ (3,585 ) $ (4,872 ) $ (8,002 ) $ (10,094 ) Interest income 78 231 192 341 Other non-operating income (expense), net (1) 8,880 117,975 3,429 107,565 Total other income (expense) $ 5,373 $ 113,334 $ (4,381 ) $ 97,812

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	6 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 Net sales: Protein Sciences $ 172,179 $ 141,517 $ 326,625 $ 282,512 Diagnostics and Genomics 52,469 43,846 102,595 86,397 Intersegment (395 ) (429 ) (768 ) (732 ) Consolidated net sales $ 224,253 $ 184,934 $ 428,452 $ 368,177 Operating income: Protein Sciences $ 80,246 $ 60,872 $ 150,598 $ 120,410 Diagnostics and Genomics 8,107 975 16,781 1,875 Segment operating income $ 88,353 $ 61,847 $ 167,379 $ 122,285 Costs recognized on sale of acquired inventory (23 ) - (23 ) - Amortization of acquisition related intangible assets (15,027 ) (15,108 ) (30,528 ) (30,008 ) Acquisition related expenses (4,421 ) 881 (4,558 ) (429 ) Stock based compensation (16,225 ) (10,618 ) (29,558 ) (19,418 ) Restructure costs (142) - (142 ) - Corporate general, selling, and administrative expenses (1,520 ) (12 ) (2,482 ) (2,113 ) Consolidated operating income $ 50,995 $ 36,992 $ 100,087 $ 70,317

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2020	Jul. 01, 2020	Jun. 30, 2020
Retained Earnings (Accumulated Deficit), Ending Balance	$ 1,104,762		$ 1,057,470
Accounting Standards Update 2016-02 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		$ 300

Note 2 - Revenue Recognition (D

Note 2 - Revenue Recognition (Details Textual) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Jun. 30, 2020
Proceeds from Laboratory Services Reimbursed by Medicare		$ 0.5
Contract with Customer, Liability, Total	$ 14.4	14.4	$ 14.2
Contract with Customer, Liability, Revenue Recognized	$ 3.4	$ 8.1

Note 2 - Revenue Recognition -

Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenues, net	$ 224,253	$ 184,934	$ 428,452	$ 368,177
UNITED STATES
Revenues, net	114,439	99,665	228,001	202,017
EMEA, excluding U.K. [Member]
Revenues, net	49,936	38,081	93,070	76,885
UNITED KINGDOM
Revenues, net	9,852	7,865	18,386	15,454
APAC, excluding Greater China [Member]
Revenues, net	18,008	15,784	33,742	29,789
CHINA
Revenues, net	25,165	19,793	43,218	35,873
Rest of World [Member]
Revenues, net	6,853	3,746	12,035	8,159
Consumables [Member]
Revenues, net	177,464	149,257	344,091	300,702
Instruments [Member]
Revenues, net	26,529	19,983	46,101	36,976
Service [Member]
Revenues, net	15,175	10,868	30,639	21,491
Product and Services [Member]
Revenues, net	219,168	180,108	420,831	359,168
Royalty [Member]
Revenues, net	$ 5,085	$ 4,826	$ 7,621	$ 9,009

Note 3 - Selected Balance She_3

Note 3 - Selected Balance Sheet Data (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Jun. 30, 2020
Finite-lived Intangible Assets Acquired		$ 8,919
Patented Technology [Member]
Finite-lived Intangible Assets Acquired	$ 5,000
Noncash or Part Noncash Acquisition, Intangible Assets Acquired		4,000
Other Noncurrent Assets [Member]
Inventory, Finished Goods, Net of Reserves, Non-current		$ 4,972	$ 4,646

Note 3 - Selected Balance She_4

Note 3 - Selected Balance Sheet Data - Inventories (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Jun. 30, 2020
Raw materials		$ 52,368	$ 51,530
Finished goods(1)	[1]	59,194	56,268
Inventories, net		$ 111,562	$ 107,798
[1]	Finished goods inventory of $4,972 and $4,646 included within other long-term assets in the respective December 31, 2020 and June 30, 2020, 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.

Note 3 - Selected Balance She_5

Note 3 - Selected Balance Sheet Data - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Property and equipment, cost	$ 376,993	$ 346,650
Accumulated depreciation and amortization	(181,391)	(169,821)
Property and equipment, net	195,602	176,829
Land [Member]
Property and equipment, cost	8,584	8,516
Building and Building Improvements [Member]
Property and equipment, cost	189,068	184,430
Machinery and Equipment [Member]
Property and equipment, cost	$ 179,341	$ 153,704

Note 3 - Selected Balance She_6

Note 3 - Selected Balance Sheet Data - Intangible Assets (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Jun. 30, 2020
Intangible assets			$ 795,591
Accumulated amortization			(279,046)
Intangible assets, net		$ 504,172	516,545
Minimum [Member]
Intangible assets		817,098
Accumulated amortization		(312,926)
Intangible assets, net		504,172
Developed Technology Rights [Member]
Intangible assets			434,653
Developed Technology Rights [Member] | Minimum [Member]
Intangible assets		444,499
Trade Names [Member]
Intangible assets			146,713
Trade Names [Member] | Minimum [Member]
Intangible assets		145,288
Customer Relationships [Member]
Intangible assets			211,750
Customer Relationships [Member] | Minimum [Member]
Intangible assets		219,583
Patents [Member]
Intangible assets	[1]		$ 2,475
Patents [Member] | Minimum [Member]
Intangible assets	[1]	$ 7,728
[1]	Increase in patents and other intangible assets is primarily due to $5.0 million recognized in intangible assets in the first quarter of fiscal 2021 for certain third party patented technology acquired. $4.0 million of the third party patented technology acquired was a non-cash activity within the condensed consolidated statement of cash flows as a cash payment was not made within the six months ended December 31, 2020.

Note 3 - Selected Balance She_7

Note 3 - Selected Balance Sheet Data - Changes to Carrying Amount of Net Intangible Assets (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)
Beginning balance	$ 516,545
Finite-lived Intangible Assets Acquired	8,919
Other additions	5,338
Amortization expense	(30,804)
Currency translation	4,174
Ending balance	$ 504,172

Note 3 - Selected Balance She_8

Note 3 - Selected Balance Sheet Data - Estimated Future Amortization Expense for Intangible Assets (Details) $ in Thousands	Dec. 31, 2020USD ($)
2021 remainder	$ 30,460
2022	59,526
2023	57,634
2024	54,988
2025	51,770
Thereafter	249,794
Total	$ 504,172

Note 3 - Selected Balance She_9

Note 3 - Selected Balance Sheet Data - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)
Balance	$ 728,308
Acquisitions	8,811
Currency translation	9,547
Balance	746,666
Protein Sciences [Member]
Balance	373,081
Acquisitions	8,811
Currency translation	9,303
Balance	391,195
Diagnostics and Genomics [Member]
Balance	355,228
Acquisitions	0
Currency translation	243
Balance	$ 355,471

Note 4 - Acquisitions (Details

Note 4 - Acquisitions (Details Textual) - Changzhou Eminence Biotechnology [Member] - USD ($) $ in Thousands	Oct. 20, 2020	Oct. 02, 2020	Dec. 31, 2020
Business Acquisition, Percentage of Voting Interests Acquired	47.60%
Business Combination, Consideration Transferred, Total	$ 9,800
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	9,000		$ 8,985
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	9,800
Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		13 years
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		10 years
Minimum [Member]
Variable Interest Entity, Financial or Other Support Expected Amount	8,000
Maximum [Member]
Variable Interest Entity, Financial or Other Support Expected Amount	$ 13,000

Note 4 - Acquisitions - Prelimi

Note 4 - Acquisitions - Preliminary and Final Fair Value of Assets and Liabilities Assumed (Details) - USD ($) $ in Thousands	2 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Oct. 20, 2020	Jun. 30, 2020
Goodwill	$ 746,666	$ 746,666			$ 728,308
Cash paid, net of cash acquired		9,765	$ 0
Changzhou Eminence Biotechnology [Member]
Current assets, net of cash	3,145	3,145
Equipment and other long-term assets	1,639	1,639
Goodwill	8,811	8,811
Total assets acquired	22,506	22,506
Liabilities	1,436	1,436
Deferred income taxes, net	2,320	2,320
Net assets acquired	18,750	18,750
Cash paid, net of cash acquired	9,765
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	8,985	8,985		$ 9,000
Net assets acquired	18,750
Changzhou Eminence Biotechnology [Member] | Developed Technology Rights [Member]
Intangible assets	6,778	6,778
Changzhou Eminence Biotechnology [Member] | Customer Relationships [Member]
Intangible assets	$ 2,133	$ 2,133

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended
	Oct. 31, 2022	Oct. 31, 2021	Oct. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020	Oct. 31, 2018
Interest Expense, Total				$ 3,585	$ 4,872	$ 8,002	$ 10,094
Nonoperating Income (Expense), Total				5,373	113,334	(4,381)	97,812
Income Tax Expense (Benefit), Total				10,224	$ 30,704	16,168	34,111
Business Combination, Liabilities Arising from Contingencies, Amount Recognized				10,800		10,800
QT Holdings Corporation [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High				51,000		51,000
Business Combination, Liabilities Arising from Contingencies, Amount Recognized				5,300		5,300
B-MoGen [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High				38,000		38,000
Business Combination, Liabilities Arising from Contingencies, Amount Recognized				5,500		5,500
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI Attributable to Parent [Member]
Interest Expense, Total						5,026	821
Nonoperating Income (Expense), Total						(512)
Income Tax Expense (Benefit), Total						(1,289)	(192)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Designated as Hedging Instrument [Member] | AOCI Attributable to Parent [Member]
Interest Expense, Total						5,000	800
Nonoperating Income (Expense), Total						(500)
Income Tax Expense (Benefit), Total						(1,300)	$ (200)
Embedded Derivative Financial Instruments [Member] | Cash Flow Hedging [Member]
Derivative, Notional Amount									$ 380,000
Derivative Notional Amount, Decrease in Period	$ 200,000	$ 80,000	$ 100,000
Embedded Derivative Financial Instruments [Member] | Cash Flow Hedging [Member] | Other Noncurrent Liabilities [Member]
Derivative Notional Amount, Dedesignated				80,000		80,000		$ 80,000
Derivative, Fair Value, De-designed				1,900		1,900
CCXI [Member]
Investments, Total				6,600		6,600		6,600
Investments, Fair Value Disclosure, Total				$ 8,300		$ 8,300		$ 8,000

Note 5 - Fair Value Measureme_4

Note 5 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands		Dec. 31, 2020	Jun. 30, 2020
Total assets		$ 117,426	$ 124,268
Contingent consideration		10,582	6,137
Derivative instruments - cash flow hedges		12,314	17,331
Total liabilities		22,896	23,468
Fair Value, Inputs, Level 1 [Member]
Total assets		109,152	116,272
Contingent consideration		0	0
Derivative instruments - cash flow hedges		0	0
Total liabilities		0	0
Fair Value, Inputs, Level 2 [Member]
Total assets		8,274	7,996
Contingent consideration		0	0
Derivative instruments - cash flow hedges		12,314	17,331
Total liabilities		12,314	17,331
Fair Value, Inputs, Level 3 [Member]
Total assets		0	0
Contingent consideration		10,582	6,137
Derivative instruments - cash flow hedges		0	0
Total liabilities		10,582	6,137
Equity Securities [Member]
Investments, Fair Value Disclosure	[1]	94,198	87,842
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Investments, Fair Value Disclosure	[1]	85,924	79,846
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investments, Fair Value Disclosure	[1]	8,274	7,996
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Investments, Fair Value Disclosure	[1]	0	0
Certificates of Deposit [Member]
Investments, Fair Value Disclosure	[2]	23,228	36,426
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member]
Investments, Fair Value Disclosure	[2]	23,228	36,426
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Investments, Fair Value Disclosure	[2]	0	0
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member]
Investments, Fair Value Disclosure	[2]	$ 0	$ 0
[1]	Included in available-for-sale investments on the balance sheet. The cost basis in the Company's investment in ChemoCentryx Inc (CCXI) at December 31, 2020 and June 30, 2020 was $6.6 million. The Company has a warrant to purchase additional CCXI equity shares which was valued at $8.3 million and $8.0 million as of December 31, 2020 and June 30 2020, respectively.
[2]	Included in available-for-sale investments on the balance sheet. The certificate of deposits have contractual maturity dates within one year.

Note 5 - Fair Value Measureme_5

Note 5 - Fair Value Measurements - Liability Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - Contingent Consideration [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020
Fair value at the beginning of period	$ 5,987	$ 6,137
Change in fair value of contingent consideration	4,750	4,600
Payments	(155)	(155)
Fair value at the end of period	$ 10,582	$ 10,582

Note 6 - Debt and Other Finan_2

Note 6 - Debt and Other Financing Arrangements (Details Textual) - Credit Agreement [Member] - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2020	Aug. 01, 2018
Long-term Debt, Total	$ 231.8
Term Loan [Member]
Debt Instrument, Face Amount		$ 250
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		600
Line of Credit Facility, Additional Borrowing Capacity		$ 200
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.20%

Note 7 - Leases (Details Textua

Note 7 - Leases (Details Textual) $ in Millions	6 Months Ended
	Dec. 31, 2020USD ($)
Variable Lease, Cost	$ 1.6
Fixed Lease, Cost	$ 6.5
Maximum [Member]
Lessee, Operating Lease, Renewal Term (Year)	5 years

Note 7 - Leases - Balance Sheet

Note 7 - Leases - Balance Sheet Classification (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Operating lease right of use assets	$ 68,154	$ 71,465
Current operating lease liabilities	9,912	9,535
Noncurrent operating lease liabilities	63,672	$ 67,248
Total operating lease liabilities	$ 73,584
Weighted average remaining lease term (in years): (Year)	8 years 4 months 13 days
Weighted average discount rate:	4.38%

Note 7 - Leases - Cash Paid (De

Note 7 - Leases - Cash Paid (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)
Cash amounts paid on operating lease liabilities	$ 6,449
Right of use assets obtained in exchange for lease liabilities	$ 939

Note 7 - Leases - Fair Value of

Note 7 - Leases - Fair Value of the Lease Liability by Payment Date (Details) $ in Thousands	Dec. 31, 2020USD ($)
Remainder of 2021	$ 6,413
2022	12,449
2023	11,477
2024	10,491
2025	9,589
Thereafter	37,925
Total	88,344
Less: Amounts representing interest	14,760
Total Lease obligations	$ 73,584

Note 8 - Supplemental Equity _3

Note 8 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.32		$ 0.64
Interest Expense, Total	$ 3,585	$ 4,872	$ 8,002	$ 10,094
Nonoperating Income (Expense), Total	5,373	113,334	(4,381)	97,812
Income Tax Expense (Benefit), Total	$ 10,224	$ 30,704	16,168	34,111
AOCI Attributable to Parent [Member]
Deferred Income Tax Expense (Benefit), Total			(2,886)		$ (4,058)
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI Attributable to Parent [Member]
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent			4,200	600
Interest Expense, Total			5,026	821
Nonoperating Income (Expense), Total			(512)
Income Tax Expense (Benefit), Total			$ (1,289)	$ (192)

Note 8 - Supplemental Equity _4

Note 8 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss) - Consolidated Changes in Equity (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Balances (in shares)		38,453,046			38,453,046
Balances	$ 1,439,285	$ 1,381,192			$ 1,381,192
Net earnings, including noncontrolling interest	46,144	33,395	$ 119,622		79,538	$ 134,018
Other comprehensive income	18,987	14,057	13,275		$ 33,044	$ 5,169
Common stock issued for exercise of options (in shares)					293,262	287,595
Common stock issued for exercise of options	14,268	13,728	18,295	$ 7,855
Common stock issued for restricted stock awards	0	(4,890)	0	(1,926)
Cash dividends	(12,392)	(12,336)	(12,197)	(12,169)
Stock-based compensation expense	15,471	12,667	10,017	8,267
Common stock issued to employee stock purchase plan		1,463	0	1,096
Employee stock purchase plan expense	106	286	112	99
Non-controlling interest in Eminence	$ 8,985
Balances (in shares)	38,765,300				38,765,300
Balances	$ 1,530,854	1,439,285			$ 1,530,854
Balance as of June 30, 2020 attributable to Bio-Techne		1,381,192	1,174,224	1,165,589	1,381,192	$ 1,165,589
Net earnings attributable to Bio-Techne	46,274		119,622	14,398	79,668	134,018
Other comprehensive loss	18,904		13,275	(8,106)	32,961	5,169
Balance as of December 31, 2020 attributable to Bio-Techne(3)	$ 1,521,916		$ 1,323,348	1,174,224	1,521,916	1,323,348
Cumulative Effect, Period of Adoption, Adjustment [Member]
Balances		$ (276)			$ (276)
Balance as of June 30, 2020 attributable to Bio-Techne				$ (879)		$ (879)
Common Stock [Member]
Balances (in shares)	38,601,000	38,453,000	38,084,000	37,934,000	38,453,000	37,934,000
Balances	$ 386	$ 385			$ 385
Net earnings, including noncontrolling interest
Other comprehensive income
Common stock issued for exercise of options (in shares)		117,000	195,000	94,000
Common stock issued for exercise of options	$ 2	$ 1	$ 2	$ 1
Common stock issued for restricted stock awards (in shares)	3,000	25,000	4,000	50,000
Common stock issued for restricted stock awards	$ 0	$ 0	$ 0	$ 0
Cash dividends
Stock-based compensation expense
Common stock issued to employee stock purchase plan (in shares)	161,000	6,000		6,000
Common stock issued to employee stock purchase plan		$ 0		$ 0
Employee stock purchase plan expense
Non-controlling interest in Eminence
Balances (in shares)	38,765,000	38,601,000	38,283,000	38,084,000	38,765,000	38,283,000
Balances	$ 388	$ 386			$ 388
Balance as of June 30, 2020 attributable to Bio-Techne			$ 381	$ 379		$ 379
Balance as of December 31, 2020 attributable to Bio-Techne(3)			383	381		383
Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balances
Additional Paid-in Capital [Member]
Balances	448,679	420,536			420,536
Net earnings, including noncontrolling interest
Other comprehensive income
Common stock issued for exercise of options	16,748	13,727	18,293	7,854
Common stock issued for restricted stock awards	0	0	0	0
Cash dividends
Stock-based compensation expense	15,471	12,667	10,017	8,267
Common stock issued to employee stock purchase plan		1,463		1,096
Employee stock purchase plan expense	106	286	112	99
Non-controlling interest in Eminence
Balances	481,004	448,679			481,004
Balance as of June 30, 2020 attributable to Bio-Techne			334,112	316,797		316,797
Balance as of December 31, 2020 attributable to Bio-Techne(3)			362,534	334,112		362,534
Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balances
Retained Earnings [Member]
Balances	1,073,362	1,057,470			1,057,470
Net earnings, including noncontrolling interest	46,274	33,395
Other comprehensive income
Common stock issued for exercise of options	(2,482)
Common stock issued for restricted stock awards	0	(4,890)		(1,926)
Cash dividends	(12,392)	(12,336)	(12,197)	(12,169)
Stock-based compensation expense
Common stock issued to employee stock purchase plan
Employee stock purchase plan expense
Non-controlling interest in Eminence
Balances	1,104,762	1,073,362			1,104,762
Balance as of June 30, 2020 attributable to Bio-Techne			931,358	931,934		931,934
Net earnings attributable to Bio-Techne			119,622	14,398
Balance as of December 31, 2020 attributable to Bio-Techne(3)			1,038,783	931,358		1,038,783
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balances		(276)			(276)
Balance as of June 30, 2020 attributable to Bio-Techne				(879)		(879)
AOCI Attributable to Parent [Member]
Balances	(83,142)	(97,199)			(97,199)
Net earnings, including noncontrolling interest
Other comprehensive income	18,904	14,057
Common stock issued for exercise of options
Common stock issued for restricted stock awards
Cash dividends
Stock-based compensation expense
Common stock issued to employee stock purchase plan
Employee stock purchase plan expense
Non-controlling interest in Eminence
Balances	(64,238)	(83,142)			(64,238)
Balance as of June 30, 2020 attributable to Bio-Techne			(91,627)	(83,521)		(83,521)
Other comprehensive loss			13,275
Balance as of December 31, 2020 attributable to Bio-Techne(3)			$ (78,352)	$ (91,627)		$ (78,352)
AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balances
Noncontrolling Interest [Member]
Balances	0	0			0
Net earnings, including noncontrolling interest	(130)
Other comprehensive income	83
Common stock issued for exercise of options
Common stock issued for restricted stock awards
Cash dividends
Stock-based compensation expense
Common stock issued to employee stock purchase plan
Employee stock purchase plan expense
Non-controlling interest in Eminence	8,985
Balances	$ 8,938	0			8,938
Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balances

Note 8 - Supplemental Equity _5

Note 8 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands		6 Months Ended
		Dec. 31, 2020		Dec. 31, 2019
Balance as of June 30, 2020 attributable to Bio-Techne		$ 1,381,192		$ 1,165,589
Balance as of December 31, 2020 attributable to Bio-Techne(3)		1,521,916		1,323,348
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Balance as of June 30, 2020 attributable to Bio-Techne		(13,253)		(9,537)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne		(47)		275
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1)		4,249	[1]	629	[2]
Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne		(47)		275
Balance as of December 31, 2020 attributable to Bio-Techne(3)	[3]	(9,051)		(8,633)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance as of June 30, 2020 attributable to Bio-Techne		(83,946)		(73,983)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne		28,759		4,264
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1)		0		0
Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne		28,759		4,264
Balance as of December 31, 2020 attributable to Bio-Techne(3)	[3]	(55,187)		(69,719)
Accumulated Other Comprehensive Income (Loss), Derivative Qualifying as Hedge, Excluded Component, Including Portion Attributable to Noncontrolling Interest [Member]
Balance as of June 30, 2020 attributable to Bio-Techne		(97,199)		(83,521)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne		28,712		4,539
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1)		4,249	[1]	629	[2]
Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne		28,712		4,539
Balance as of December 31, 2020 attributable to Bio-Techne(3)	[3]	$ (64,238)		$ (78,352)
[1]	Gains (losses) on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $5,026 to interest expense and $512 to non-operating income relating to variable interest payments that were probable not to occur as further discussed in Note 6 in the six months ended December 31, 2020. The Company also recorded a related tax benefit of $1,289 during the six months ended December 31, 2020.
[2]	The Company reclassified ($821) to interest expense and a related tax benefit tax of $192 during the six months ended December 31, 2019.
[3]	The Company had deferred tax benefits of $2,886 and $4,058 included in the accumulated other comprehensive income loss as of December 31, 2020 and June 30, 2020, respectively.

Note 9 - Earnings Per Share (De

Note 9 - Earnings Per Share (Details Textual) - shares shares in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1.6	1.3	1.5	1.3

Note 9 - Earnings Per Share - S

Note 9 - Earnings Per Share - Shares Used in the Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Net earnings, including noncontrolling interest	$ 46,144	$ 33,395	$ 119,622		$ 79,538	$ 134,018
Net earnings attributable to noncontrolling interest	(130)		0		(130)	0
Net earnings attributable to Bio-Techne	46,274		119,622	$ 14,398	79,668	134,018
Income allocated to participating securities	(37)		(172)		(50)	(258)
Income available to common shareholders	$ 46,237		$ 119,450		$ 79,618	$ 133,760
Basic (in shares)	38,691		38,167		38,614	38,100
Basic (in dollars per share)	$ 1.20		$ 3.13		$ 2.06	$ 3.51
Income allocated to participating securities	$ (37)		$ (172)		$ (50)	$ (258)
Income available to common shareholders	$ 46,237		$ 119,450		$ 79,618	$ 133,760
Dilutive effect of stock options and restricted stock units (in shares)	1,566		1,383		1,521	1,270
Diluted (in shares)	40,257		39,550		40,135	39,370
Diluted (in dollars per share)	$ 1.15		$ 3.02		$ 1.98	$ 3.40

Note 10 - Share-based Compens_2

Note 10 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)			700,000	700,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)			$ 267.59	$ 190.73
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 56.88	$ 37
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)			293,262	287,595
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			$ 50.6	$ 35.3
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 43.1		$ 43.1
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years 1 month 6 days
Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expense	15.6	$ 10.1	$ 28.5	18.5
Cost of Sales [Member]
Share-based Payment Arrangement, Expense	$ 0.6	$ 1	$ 0.5	$ 0.9
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			22,367	30,858
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 267.87	$ 192.08
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			11,803	15,398
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 264.73	$ 193.48

Note 11 - Other Income (Expen_3

Note 11 - Other Income (Expense) - Schedule of Components of Other Income (Expense) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Interest expense		$ (3,585)	$ (4,872)	$ (8,002)	$ (10,094)
Interest income		78	231	192	341
Other non-operating income (expense), net(1)	[1]	8,880	117,975	3,429	107,565
Total other income (expense)		$ 5,373	$ 113,334	$ (4,381)	$ 97,812
[1]	The changes in other non-operating income (expense) were driven by changes in the fair value of our CCXI investment as further described in Note 5 above.

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Percent, Total	18.10%	20.40%	16.90%	20.30%
Income Tax Expense (Benefit), Discrete Tax Items	$ (3.7)	$ (5.4)	$ (7.8)	$ (6.7)
Excess Tax Benefit from Share-based Compensation, Operating Activities	4.8	3.7	8	7
Income Tax Expense (Benefit), Other Immaterial Discrete Tax Items, Net	$ 1.1	$ (1.7)	0.2	$ (0.3)
CCXI [Member]
Gain (Loss) on Investments, Total			$ 121

Note 13 - Segment Information -

Note 13 - Segment Information - Financial Information Relating to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenues, net	$ 224,253	$ 184,934	$ 428,452	$ 368,177
Operating income	50,995	36,992	100,087	70,317
Costs recognized on sale of acquired inventory			(23)	0
Corporate general, selling, and administrative expenses	(83,116)	(68,030)	(155,714)	(137,040)
Operating Segments [Member]
Operating income	88,353	61,847	167,379	122,285
Costs recognized on sale of acquired inventory	(23)	0	(23)	0
Amortization of acquisition related intangible assets	(15,027)	(15,108)	(30,528)	(30,008)
Acquisition related expenses	(4,421)	881	(4,558)	(429)
Stock based compensation	(16,225)	(10,618)	(29,558)	(19,418)
Restructure costs	(142)	0	(142)	0
Operating Segments [Member] | Protein Sciences [Member]
Revenues, net	172,179	141,517	326,625	282,512
Operating income	80,246	60,872	150,598	120,410
Operating Segments [Member] | Diagnostics and Genomics [Member]
Revenues, net	52,469	43,846	102,595	86,397
Operating income	8,107	975	16,781	1,875
Intersegment Eliminations [Member]
Revenues, net	(395)	(429)	(768)	(732)
Corporate, Non-Segment [Member]
Corporate general, selling, and administrative expenses	$ (1,520)	$ (12)	$ (2,482)	$ (2,113)