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Revenue from Contracts with Customers
 9 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The Company believes that disaggregating revenue by end market provides the most relevant information regarding the nature, amount, timing, and uncertainty of revenues and cash flows.
As of July 1, 2022, the Company disaggregates revenue into four end markets: industrial, communications, electronics and instrumentation. All prior period market and segment disclosure information has been reclassified to conform to the current reporting structure.
Effective July 1, 2022, the Company updated the operating segments due to the closing of the Merger. In addition, prior year numbers were recast to reflect the transfer of two entities between the Networking and Materials segments. See Note 13. Segment Reporting for further information.
The following tables summarize disaggregated revenue for the three and nine months ended March 31, 2023 and 2022 ($000):
Three Months Ended March 31, 2023Nine Months Ended March 31, 2023
NetworkingMaterialsLasersTotalNetworkingMaterialsLasersTotal
Industrial$17,570 $156,846 $263,789 $438,205 $52,189 $450,383 $846,881 $1,349,453 
Communications521,291 17,014 — 538,305 1,664,205 59,553 — 1,723,758 
Electronics2,849 136,229 — 139,078 9,674 509,803 — 519,477 
Instrumentation9,389 13,680 101,537 124,606 30,259 42,070 290,032 362,361 
Total Revenues$551,099 $323,769 $365,326 $1,240,194 $1,756,327 $1,061,809 $1,136,913 $3,955,049 
Three Months Ended March 31, 2022Nine Months Ended March 31, 2022
NetworkingMaterialsTotalNetworkingMaterialsTotal
Industrial$21,325 $164,346 $185,671 $63,050 $486,094 $549,144 
Communications527,821 25,999 553,820 1,510,092 69,436 1,579,528 
Electronics2,752 60,240 62,992 9,080 220,683 229,763 
Instrumentation7,662 17,579 25,241 24,892 46,327 71,219 
Total Revenues$559,560 $268,164 $827,724 $1,607,114 $822,540 $2,429,654 
Contract Liabilities
Payments received from customers are based on invoices or billing schedules as established in contracts with customers. Contract liabilities relate to billings in advance of performance under the contract. Contract liabilities are recognized as revenue when the performance obligation has been satisfied. During the nine months ended March 31, 2023, the Company recognized revenue of $18 million related to customer payments that were included as contract liabilities in the Condensed Consolidated Balance Sheet as of June 30, 2022. The Company had $181 million of contract liabilities recorded in the Condensed Consolidated Balance Sheet as of March 31, 2023. Contract liabilities acquired from the Merger totaled $77 million. As of March 31, 2023, $116 million of deferred revenue is included other accrued liabilities and $65 million is included within other liabilities on the Condensed Consolidated Balance Sheet.