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BUSINESS COMBINATIONS (Tables) | 12 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Acquisition Purchase Price Allocation | The purchase price of this acquisition was allocated as follows:
(In thousands) |  | Fair Value
Net tangible assets (including Cash and cash equivalents of $6.6 million) |  | $ | 7,196 |
Deferred tax liabilities |  | (15,265) |
Identifiable intangible assets |  | 47,931 |
Goodwill |  | 54,168 |
Total |  | $ | 94,030 |
The allocation of the purchase price to the estimated fair value of the assets acquired and liabilities assumed at the Acquisition date, including all measurement period adjustments, is as follows:
(In thousands) | Purchase Price Allocation
Assets |
Accounts receivable, net | $ | 197,873 |
Inventories | 330,325 |
Contract assets | 63,181 |
Other current assets | 70,622 |
Property, plant, and equipment, net | 97,664 |
Intangible assets | 1,553,570 |
Other non-current assets | 73,179 |
Total assets acquired | $ | 2,386,414 |
Liabilities |
Accounts payable | $ | 53,015 |
Accrued liabilities | 173,507 |
Other current liabilities | 73,057 |
Deferred tax liabilities | 786,671 |
Other non-current liabilities | 86,789 |
Non-controlling interest | 19,185 |
Total liabilities assumed | $ | 1,192,224 |
Total identifiable net assets acquired | $ | 1,194,190 |
Goodwill | 1,845,728 |
Total purchase price | $ | 3,039,918 |
Non-recurring Adjustments to Unaudited Pro Forma Results Attributable to Business Combination | The table below reflects the impact of material and nonrecurring adjustments to the unaudited pro forma results for the indicated periods that are directly attributable to the acquisitions:
| Year ended June 30, |  |  |  |  |  |
Non-recurring Adjustments (In thousands) | 2019 |  | 2018 |  |  |  |
Decrease to revenue as a result of deferred revenue fair value adjustment | $ | — |  |  | $ | 5,349 |  |  |  |  |
Increase to expense as a result of inventory fair value adjustment | $ | 1,029 |  |  | $ | 85,778 |  |  |  |  |
(Decrease)/increase to expense as a result of transaction costs | $ | (64,343) |  |  | $ | 64,343 |  |  |  |  |
Increase to expense as a result of compensation costs | $ | 7,201 |  |  | $ | 39,888 |  |  |  |  |
Unaudited Pro Forma Information | The unaudited pro forma information presented below is for informational purposes only and is not necessarily indicative of our consolidated results of operations of the combined business had the acquisitions actually occurred at the beginning of fiscal year 2018 or of the results of our future operations of the combined businesses.
| Year ended June 30, |  |
(In thousands) | 2019 |  | 2018
Revenues | $ | 5,154,823 |  |  | $ | 5,079,654 |
Net income attributable to KLA | $ | 1,288,467 |  |  | $ | 608,542 |

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- Definition Tabular disclosure of the nature and amount of any material, nonrecurring adjustments directly attributable to the business combination(s) included in the reported pro forma revenue and earnings (supplemental pro forma information). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(4) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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