Inventories

3 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Inventories

InventoriesThe components of inventories were as follows ($000):

	September 30, 2022		June 30, 2022
Raw materials	$	444,010	$	318,758
Work in progress	581,752		408,405
Finished goods	321,178		175,396
	$	1,346,940	$	902,559

During the three months ended September 30, 2022, as part of the Coherent, Inc. acquisition, a fair value inventory step-up in the amount of $91 million was recorded as part of the preliminary purchase price allocation. The inventory step-up will be amortized to cost of goods sold over the expected period during which the acquired inventory is sold. Refer to Note 3. Coherent Acquisition for additional information. These costs are non-recurring in nature and not anticipated to affect the condensed combined statements of earnings (loss) beyond twelve months after the Closing Date.