Segment Reporting

6 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company reports its business segments using the “management approach” model for segment reporting. This means that we determine our reportable business segments based on the way the chief operating decision-maker organizes business segments within the Company for making operating decisions and assessing financial performance.

We report our financial results in the following three segments: (i) Networking, (ii) Materials, and (iii) Lasers. Our chief operating decision maker receives and reviews financial information based on these three segments. We evaluate business segment performance based upon segment operating income, which is defined as earnings before income taxes, interest and other income or expense. The segments are managed separately due to the market, production requirements and facilities unique to each segment.

The accounting policies are consistent across each segment. To the extent possible, our corporate expenses and assets are allocated to the segments.

The following tables summarize selected financial information of our operations by segment ($000):

	Three Months Ended December 31, 2023
	Networking		Materials		Lasers		Unallocated & Other		Total
Revenues	$	524,235	$	253,678	$	353,521	$	—	$	1,131,434
Inter-segment revenues	9,979		96,042		1,205		(107,226)		—
Operating income (loss)	47,488		9,771		(25,374)		—		31,885
Interest expense	—		—		—		—		(74,678)
Other income (expense), net	—		—		—		—		5,386
Income tax benefit	—		—		—		—		8,932
Net loss	—		—		—		—		(28,475)
Net loss attributable to Coherent Corp.	—		—		—		—		(26,991)
Depreciation and amortization	40,771		25,410		71,838		—		138,019
Expenditures for property, plant & equipment	36,374		54,511		585		—		91,470
Segment assets	3,383,786		3,085,302		8,193,792		—		14,662,880
Goodwill	1,036,900		249,290		3,279,820		—		4,566,010

	Three Months Ended December 31, 2022
	Networking		Materials		Lasers		Unallocated & Other		Total
Revenues	$	608,680	$	382,396	$	379,209	$	—	$	1,370,285
Inter-segment revenues	17,630		85,844		917		(104,391)		—
Operating income (loss)	90,039		81,472		(163,265)		—		8,246
Interest expense	—		—		—		—		(70,904)
Other income (expense), net	—		—		—		—		(3,696)
Income tax benefit	—		—		—		—		21,282
Net loss	—		—		—		—		(45,072)
Depreciation and amortization	40,241		28,035		101,633		—		169,909
Expenditures for property, plant & equipment	30,383		61,474		15,007		—		106,864

	Six Months Ended December 31, 2023
	Networking		Materials		Lasers		Unallocated & Other		Total
Revenues	$	997,084	$	498,318	$	689,115	$	—	$	2,184,517
Inter-segment revenues	22,866		183,784		1,844		(208,494)		—
Operating income (loss)	63,805		16,953		(70,181)		—		10,577
Interest expense	—		—		—		—		(147,936)
Other income (expense), net	—		—		—		—		11,655
Income tax benefit	—		—		—		—		29,695
Net loss	—		—		—		—		(96,009)
Net loss attributable to Coherent Corp.	—		—		—		—		(94,525)
Depreciation and amortization	81,207		50,697		144,474		—		276,378
Expenditures for property, plant & equipment	53,867		95,023		4,777		—		153,667

    

	Six Months Ended December 31, 2022
	Networking		Materials		Lasers		Unallocated & Other		Total
Revenues	$	1,205,228	$	738,040	$	771,587	$	—	$	2,714,855
Inter-segment revenues	36,370		180,898		1,083		(218,351)		—
Operating income (loss)	181,021		156,807		(287,106)		—		50,722
Interest expense	—		—		—		—		(132,793)
Other income (expense), net	—		—		—		—		(35,301)
Income taxes	—		—		—		—		33,602
Net earnings	—		—		—		—		(83,770)
Depreciation and amortization	83,015		54,562		179,618		—		317,195
Expenditures for property, plant & equipment	74,213		136,372		35,269		—		245,854