Business Segments

3 Months Ended

Sep. 30, 2024

Business Segments

Business Segments

11.  Business Segments

We evaluate performance and allocate resources, based on the Animal Health, Mineral Nutrition and Performance Products segments. Certain of our costs and assets are not directly attributable to a segment or segments, and we refer to these items as Corporate. We do not allocate Corporate costs or assets to the other segments because they are not used to evaluate the segments’ operating results or financial position. Corporate costs include certain costs related to executive management, information technology, legal, finance, human resources and business development. The accounting policies of our segments are the same as those described in the summary of significant accounting policies included herein.

We evaluate performance of our segments based on Adjusted EBITDA. We calculate Adjusted EBITDA as net income (loss) plus (a) interest expense, net, (b) provision for income taxes or less benefit for income taxes (c) depreciation and amortization, (d) other expense or less other income, as separately reported on our consolidated statements of operations, including foreign currency (gains) losses, net and (e) certain items that we consider to be unusual, non-operational or non-recurring.

	Three Months
For the Periods Ended September 30	2024		2023
Net sales
Animal Health	$	182,523	$	160,530
Mineral Nutrition		59,062		56,026
Performance Products		18,847		14,793
Total segments	$	260,432	$	231,349
Depreciation and amortization
Animal Health	$	7,663	$	7,349
Mineral Nutrition		516		646
Performance Products		333		426
Total segments	$	8,512	$	8,421
Adjusted EBITDA
Animal Health	$	40,385	$	28,494
Mineral Nutrition		3,762		2,881
Performance Products		2,288		1,409
Total segments	$	46,435	$	32,784
Reconciliation of income before income taxes to Adjusted EBITDA
Income (loss) before income taxes	$	9,620	$	(11,979)
Interest expense, net		7,641		4,564
Depreciation and amortization – Total segments		8,512		8,421
Depreciation and amortization – Corporate		492		450
Corporate costs		15,779		14,133
Acquisition-related transaction costs		3,424		—
Pension settlement cost		—		10,425
Stock-based compensation		179		81
Phibro Forward income growth initiatives		350		—
Foreign currency losses, net		438		6,689
Adjusted EBITDA – Total segments	$	46,435	$	32,784

	September 30,		June 30,
As of	2024		2024
Identifiable assets
Animal Health	$	688,232	$	684,407
Mineral Nutrition		66,462		67,088
Performance Products		48,629		50,862
Total segments		803,323		802,357
Corporate		162,966		179,827
Total	$	966,289	$	982,184

The Animal Health segment includes all goodwill of the Company. Corporate assets include cash and cash equivalents, short-term investments, debt issuance costs, income tax-related assets and certain other assets.