Revenue from Contracts with Customers

3 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Revenue from Contracts with Customers

We believe that disaggregating revenue by end market provides the most relevant information regarding the nature, amount, timing, and uncertainty of revenues and cash flows.

The following tables summarize disaggregated revenue by market ($000):

	Three Months Ended September 30, 2023
	Networking		Materials		Lasers		Total
Industrial	$	15,965	$	133,203	$	255,166	$	404,334
Communications	446,274		13,252		—		459,526
Electronics	1,724		88,065		—		89,789
Instrumentation	8,886		10,120		80,428		99,434
Total Revenues	$	472,849	$	244,640	$	335,594	$	1,053,083

	Three Months Ended September 30, 2022
	Networking		Materials		Lasers		Total
Industrial	$	18,693	$	144,083	$	298,241	$	461,017
Communications	563,521		21,877		—		585,398
Electronics	3,822		176,622		—		180,444
Instrumentation	10,512		13,062		94,137		117,711
Total Revenues	$	596,548	$	355,644	$	392,378	$	1,344,570

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 obligations have been satisfied. During the three months ended September 30, 2023, we recognized revenue of $35 million related to customer payments that were included as contract liabilities in the Condensed Consolidated Balance Sheet as of June 30, 2023. We had $137 million of contract liabilities recorded in the Condensed Consolidated Balance Sheet as of September 30, 2023. As of September 30, 2023, $94 million of deferred revenue is included within other accrued liabilities, and $43 million is included within other liabilities on the Condensed Consolidated Balance Sheet.