Segment Reporting

9 Months Ended

Mar. 31, 2024

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 March 31, 2024
	Networking		Materials		Lasers		Unallocated & Other		Total
Revenues	$	618,824	$	238,982	$	351,003	$	—	$	1,208,809
Inter-segment revenues	10,892		132,177		1,513		(144,582)		—
Operating income (loss)	58,166		8,220		(44,081)		—		22,305
Interest expense	—		—		—		—		(72,753)
Other income (expense), net	—		—		—		—		18,597
Income tax benefit	—		—		—		—		16,121
Net loss	—		—		—		—		(15,730)
Net loss attributable to Coherent Corp.	—		—		—		—		(13,187)
Depreciation and amortization	40,573		26,508		72,654		—		139,735
Expenditures for property, plant & equipment	20,884		61,119		11,239		—		93,242
Segment assets	3,497,693		3,028,652		7,994,067		—		14,520,412
Goodwill	1,036,661		247,919		3,208,645		—		4,493,225

	Three Months Ended March 31, 2023
	Networking		Materials		Lasers		Unallocated & Other		Total
Revenues	$	551,099	$	323,769	$	365,326	$	—	$	1,240,194
Inter-segment revenues	17,759		96,604		317		(114,680)		—
Operating income (loss)	49,476		67,826		(49,914)		—		67,388
Interest expense	—		—		—		—		(75,183)
Other income (expense), net	—		—		—		—		3,048
Income tax benefit	—		—		—		—		7,293
Net earnings	—		—		—		—		2,546
Depreciation and amortization	41,369		29,242		90,330		—		160,941
Expenditures for property, plant & equipment	6,441		78,666		12,038		—		97,145
Segment assets	3,435,816		2,275,614		8,406,202		—		14,117,632
Goodwill	1,012,006		273,341		3,219,790		—		4,505,137

	Nine Months Ended March 31, 2024
	Networking		Materials		Lasers		Unallocated & Other		Total
Revenues	$	1,615,908	$	737,300	$	1,040,118	$	—	$	3,393,326
Inter-segment revenues	33,758		315,961		3,357		(353,076)		—
Operating income (loss)	121,971		25,173		(114,262)		—		32,882
Interest expense	—		—		—		—		(220,689)
Other income (expense), net	—		—		—		—		30,252
Income tax benefit	—		—		—		—		45,816
Net loss	—		—		—		—		(111,739)
Net loss attributable to Coherent Corp.	—		—		—		—		(107,712)
Depreciation and amortization	121,780		77,205		217,128		—		416,113
Expenditures for property, plant & equipment	74,751		156,142		16,016		—		246,909

    

	Nine Months Ended March 31, 2023
	Networking		Materials		Lasers		Unallocated & Other		Total
Revenues	$	1,756,327	$	1,061,809	$	1,136,913	$	—	$	3,955,049
Inter-segment revenues	54,129		277,502		1,400		(333,031)		—
Operating income (loss)	230,497		224,633		(337,020)		—		118,110
Interest expense	—		—		—		—		(207,976)
Other income (expense), net	—		—		—		—		(32,253)
Income taxes	—		—		—		—		40,895
Net loss	—		—		—		—		(81,224)
Depreciation and amortization	124,384		83,804		269,948		—		478,136
Expenditures for property, plant & equipment	80,654		215,038		47,307		—		342,999