Inventories

9 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Inventories

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

	March 31, 2023		June 30, 2022
Raw materials	$	490,479	$	318,758
Work in progress	621,295		408,405
Finished goods	282,329		175,396
	$	1,394,103	$	902,559

During the nine months ended March 31, 2023, as part of the Merger, a fair value inventory step-up in the amount of $158 million was recorded as part of the preliminary purchase price allocation. The inventory step-up was amortized to cost of goods sold over the expected period during which the acquired inventory is sold. Refer to Note 3. Coherent Acquisition for further 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.