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Segment Reporting
 6 Months Ended
Dec. 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 (“CODM”) analyzes 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 CODM receives and reviews financial information based on these three segments. During the first quarter of fiscal 2025 as a result of a new CEO joining the Company in the fourth quarter of fiscal 2024, our CODM implemented changes in the measure he uses to allocate resources and assess performance. Our CODM now evaluates each segment’s performance and allocates resources based on segment revenue and segment profit, instead of operating income, as our CODM believes segment profit is a more comprehensive profitability measure for each operating segment. Segment profit includes operating expenses directly managed by operating segments, including research and development, direct sales, marketing and administrative expenses. Segment profit does not include share-based compensation, acquisition or integration related costs, amortization and impairment of acquisition-related intangible assets, restructuring charges, and certain other charges. Additionally, effective the first quarter of fiscal 2025, we no longer allocate Corporate strategic research and development, strategic marketing and sales expenses and shared general and administrative expenses, as these expenses are not directly attributable to our operating segments. 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. Effective the first quarter of fiscal 2025, we no longer allocate corporate assets to the segments.
Comparative prior period segment information has been recast to conform to the new segment profitability measure. The change in our operating segment measure had no impact on our previously reported consolidated results of operations, financial condition, or cash flows.
The following table summarizes selected financial information of our operations by segment and reconciles segment profit to consolidated earnings (loss) before income taxes for the periods presented ($000):
Three Months Ended
December 31,		Six Months Ended
December 31,
2024202320242023
Segment revenue
Networking$815,913 $524,235 1,578,785 997,084 
Materials243,475 253,678 480,902 498,318 
Lasers375,277 353,521 723,113 689,115 
Total segment revenue1,434,665 1,131,434 2,782,800 2,184,517 
Intersegment revenue
Networking12,584 9,979 27,011 22,866 
Materials119,122 96,042 251,290 183,784 
Lasers2,318 1,205 3,882 1,844 
Unallocated(134,024)(107,226)(282,183)(208,494)
Total intersegment revenue— — — — 
Segment profit
Networking153,269 95,350 289,175 156,063 
Materials74,117 56,220 165,225 106,322 
Lasers87,520 62,548 151,259 108,241 
Total segment profit314,906 214,118 605,659 370,626 
Unallocated Corporate items
Corporate and centralized function costs (1)
(49,959)(61,669)(123,061)(107,204)
Share-based compensation(41,012)(27,252)(76,490)(71,776)
Restructuring costs (2)
(8,021)1,570 (32,385)(1,448)
Integration, site consolidated and other costs (3)
(7,332)(23,376)(18,081)(35,454)
Amortization of intangibles(71,716)(71,507)(143,578)(144,168)
Interest expense(64,278)(74,678)(130,922)(147,936)
Other (income) expense, net55,816 5,387 66,565 11,656 
Earnings (loss) before income taxes$128,404 $(37,407)$147,707 $(125,704)
Expenditures for property, plant, and equipment
Networking$70,211 $36,374 $118,897 $53,867 
Materials30,703 54,511 64,499 95,023 
Lasers4,769 585 14,271 4,777 
Total expenditures for property, plant, and equipment$105,683 $91,470 $197,667 $153,667 
(1)We do not allocate corporate and centralized function costs that are not directly attributable to our operating segments.
(2)See Note 17. Restructuring Plan for further information.
(3)Integration and site consolidation costs in the three and six months ended December 31, 2024 includes $4 million and $15 million, respectively, in consulting costs related to projects to integrate recent acquisitions into common technology systems and simplify legal entity structure, and $3 million and $2 million, respectively, of employee severance and retention costs related to sites being shut down as part of our 2023 Restructuring Plan or Synergy and Site Consolidation Plan. Integration and site consolidation costs in the three and six months ended December 31, 2023
primarily include $16 million and $23 million, respectively, in consulting costs related to projects to integrate recent acquisitions into common technology systems and simplify legal entity structure, and $4 million and $6 million, respectively, of employee severance and retention costs related to sites being shut down as part of our 2023 Restructuring Plan or Synergy and Site Consolidation Plan.
The following table summarizes segment assets ($000):
Segment assets and reconciliation to total assetsDecember 31,
2024		June 30,
2024
Networking$3,545,700 $3,472,866 
Materials2,862,533 3,017,858 
Lasers7,062,988 7,361,731 
Corporate and shared services726,113 636,179 
Total assets$14,197,334 $14,488,634