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SEGMENT REPORTING AND GEOGRAPHIC INFORMATION
 3 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
SEGMENT REPORTING AND GEOGRAPHIC INFORMATION SEGMENT REPORTING AND GEOGRAPHIC INFORMATION
Accounting Standards Codification 280, Segment Reporting, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. Our CODM is our Chief Executive Officer.
We have three reportable segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection. The reportable segments are determined based on several factors including, but not limited to, customer base, homogeneity of products, technology, delivery channels and similar economic characteristics.
Semiconductor Process Control
The Semiconductor Process Control segment offers a comprehensive portfolio of inspection, metrology and data analytics products, and related services, which helps IC manufacturers achieve target yield throughout the entire semiconductor fabrication process, from R&D to final volume production. Our differentiated products and services are designed to provide comprehensive solutions that help our customers accelerate development and production ramp cycles, achieve higher and more stable semiconductor die yields and improve their overall profitability. This reportable segment is comprised of two operating segments, Wafer Inspection and Patterning and GSS.
Specialty Semiconductor Process
The Specialty Semiconductor Process segment develops and sells advanced vacuum deposition and etching process tools, which are used by a broad range of specialty semiconductor customers, including manufacturers of microelectromechanical systems (“MEMS”), radio frequency (“RF”) communication chips and power semiconductors for automotive and industrial applications. This reportable segment is comprised of one operating segment.
PCB, Display and Component Inspection
The PCB, Display and Component Inspection segment enables electronic device manufacturers to inspect, test and measure PCBs, flat panel displays and ICs to verify their quality, pattern the desired electronic circuitry on the relevant substrate and perform three-dimensional shaping of metalized circuits on multiple surfaces. This reportable segment is comprised of two operating segments, PCB and Display and Component Inspection.
The CODM assesses the performance of each operating segment and allocates resources to those segments based on total revenues and segment gross profit and does not evaluate the segments using discrete asset information. Segment gross profit excludes corporate allocations and effects of changes in foreign currency exchange rates, amortization of intangible assets, amortization of inventory fair value adjustments, and transaction costs associated with our acquisitions related to costs of revenues.
The following is a summary of results for each of our three reportable segments for the indicated periods:
 Three Months Ended September 30,
(In thousands)20232022
Semiconductor Process Control:
Revenues$2,135,478 $2,397,759 
Segment gross profit1,386,529 1,576,982 
Specialty Semiconductor Process:
Revenues126,719 127,867 
Segment gross profit69,301 67,040 
PCB, Display and Component Inspection:
Revenues136,043 200,745 
Segment gross profit39,820 85,674 
Totals:
Revenues for reportable segments$2,398,240 $2,726,371 
Segment gross profit$1,495,650 $1,729,696 

The following table reconciles total reportable segment revenues to total revenues for the indicated periods:
 Three Months Ended September 30,
(In thousands)20232022
Total revenues for reportable segments$2,398,240 $2,726,371 
Corporate allocations and effects of changes in foreign currency exchange rates(1,284)(1,947)
Total revenues$2,396,956 $2,724,424 
The following table reconciles total segment gross profit to income before income taxes for the indicated periods:
 Three Months Ended September 30,
(In thousands)20232022
Total segment gross profit$1,495,650 $1,729,696 
Acquisition-related charges, corporate allocations and effects of changes in foreign currency exchange rates(1)
45,585 46,498 
R&D311,214 318,515 
SG&A239,645 253,980 
Interest expense74,234 74,395 
Loss on extinguishment of debt— 13,286 
Other expense (income), net(26,739)(47,006)
Income before income taxes$851,711 $1,070,028 
__________________
(1)Acquisition-related charges primarily include amortization of intangible assets and other acquisition-related costs classified or presented as part of costs of revenues.
Our significant operations outside the United States include manufacturing facilities in China, Germany, Israel and Singapore and sales, marketing and service offices in Japan, the rest of the Asia Pacific region and Europe. For geographical revenue reporting, revenues are attributed to the geographic location in which the customer is located. Long-lived assets consist of land, property and equipment, net, and are attributed to the geographic region in which they are located.
The following is a summary of revenues by geographic region, based on ship-to location, for the indicated periods:
(Dollar amounts in thousands)Three Months Ended September 30,
20232022
Revenues:
China$1,025,944 43 %$839,661 31 %
Taiwan405,343 17 %748,334 27 %
North America250,713 10 %233,754 9 %
Japan227,377 10 %217,709 8 %
Korea219,821 9 %407,462 15 %
Europe and Israel168,436 7 %164,073 6 %
Rest of Asia99,322 4 %113,431 4 %
Total$2,396,956 100 %$2,724,424 100 %
The following is a summary of revenues by major product categories for the indicated periods:
(Dollar amounts in thousands)Three Months Ended September 30,
20232022
Revenues:
Wafer Inspection$1,010,198 42 %$1,102,542 41 %
Patterning542,488 23 %733,370 27 %
Specialty Semiconductor Process112,103 5 %114,444 4 %
PCB, Display and Component Inspection71,164 3 %134,443 5 %
Services560,292 23 %528,815 19 %
Other100,711 4 %110,810 4 %
Total$2,396,956 100 %$2,724,424 100 %
Wafer Inspection and Patterning products are offered in the Semiconductor Process Control segment. Services are offered in multiple segments. Other includes primarily refurbished systems, remanufactured legacy systems, and enhancements and upgrades for previous-generation products that are part of the Semiconductor Process Control segment.
In the three months ended September 30, 2023, one customer accounted for approximately 11% of total revenues. In the three months ended September 30, 2022, two customers accounted for approximately 20% and 11% of total revenues. One customer and two customers on an individual basis accounted for greater than 10% of net accounts receivable at September 30, 2023 and at June 30, 2023, respectively.
Land, property and equipment, net by geographic region as of the dates indicated below were as follows: 
As ofAs of
(In thousands)September 30, 2023June 30, 2023
Land, property and equipment, net:
United States$686,532 $672,561 
Singapore155,152 150,989 
Israel92,641 92,815 
Europe88,694 74,015 
Rest of Asia36,906 41,461 
Total$1,059,925 $1,031,841