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SEGMENT REPORTING AND GEOGRAPHIC INFORMATION
 6 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENT REPORTING AND GEOGRAPHIC INFORMATION SEGMENT REPORTING AND GEOGRAPHIC INFORMATION
Accounting Standards Codification 280, Segment Reporting, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. Our CODM is our Chief Executive Officer.
We have three reportable segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection. The reportable segments are determined based on several factors including, but not limited to, customer base, homogeneity of products, technology, delivery channels and similar economic characteristics.
Semiconductor Process Control
The Semiconductor Process Control segment offers a comprehensive portfolio of inspection, metrology and data analytics products, and related services, which helps IC manufacturers achieve target yield throughout the entire semiconductor fabrication process, from R&D to final volume production. Our differentiated products and services are designed to provide comprehensive solutions that help our customers accelerate development and production ramp cycles, achieve higher and more stable semiconductor die yields and improve their overall profitability. This reportable segment is comprised of two operating segments, Wafer Inspection and Patterning and GSS.
Specialty Semiconductor Process
The Specialty Semiconductor Process segment develops and sells advanced vacuum deposition and etching process tools, which are used by a broad range of specialty semiconductor customers, including manufacturers of microelectromechanical systems (“MEMS”), radio frequency (“RF”) communication chips and power semiconductors for automotive and industrial applications. This reportable segment is comprised of one operating segment.
PCB, Display and Component Inspection
The PCB, Display and Component Inspection segment enables electronic device manufacturers to inspect, test and measure PCBs, flat panel displays and ICs to verify their quality, pattern the desired electronic circuitry on the relevant substrate and perform three-dimensional shaping of metalized circuits on multiple surfaces. This reportable segment is comprised of two operating segments, PCB and Display and Component Inspection.
The CODM assesses the performance of each operating segment and allocates resources to those segments based on total revenues and segment gross profit and does not evaluate the segments using discrete asset information. Segment gross profit excludes corporate allocations and effects of changes in foreign currency exchange rates, amortization of intangible assets, amortization of inventory fair value adjustments, and transaction costs associated with our acquisitions related to costs of revenues.
The following is a summary of results for each of our three reportable segments for the indicated periods:
 Three Months Ended December 31,Six Months Ended December 31,
(In thousands)2023202220232022
Semiconductor Process Control:
Revenues$2,194,079 $2,657,395 $4,329,557 $5,055,154 
Segment gross profit1,418,339 1,678,037 2,804,868 3,255,019 
Specialty Semiconductor Process:
Revenues150,065 158,085 276,784 285,952 
Segment gross profit81,278 84,040 150,579 151,080 
PCB, Display and Component Inspection:
Revenues143,032 169,959 279,075 370,704 
Segment gross profit57,165 53,864 96,985 139,538 
Totals:
Revenues for reportable segments$2,487,176 $2,985,439 $4,885,416 $5,711,810 
Segment gross profit$1,556,782 $1,815,941 $3,052,432 $3,545,637 

The following table reconciles total reportable segment revenues to total revenues for the indicated periods:
 Three Months Ended December 31,Six Months Ended December 31,
(In thousands)2023202220232022
Total revenues for reportable segments$2,487,176 $2,985,439 $4,885,416 $5,711,810 
Corporate allocations and effects of changes in foreign currency exchange rates(450)(1,552)(1,734)(3,499)
Total revenues$2,486,726 $2,983,887 $4,883,682 $5,708,311 

The following table reconciles total segment gross profit to income before income taxes for the indicated periods:
 Three Months Ended December 31,Six Months Ended December 31,
(In thousands)2023202220232022
Total segment gross profit$1,556,782 $1,815,941 $3,052,432 $3,545,637 
Acquisition-related charges, corporate allocations and effects of changes in foreign currency exchange rates(1)
46,802 40,840 92,387 87,338 
R&D320,418 332,826 631,632 651,341 
SG&A237,244 243,096 476,889 497,076 
Impairment of goodwill and purchased intangible assets219,000 — 219,000 — 
Interest expense74,202 74,280 148,436 148,675 
Loss on extinguishment of debt— — — 13,286 
Other expense (income), net(32,154)(18,074)(58,893)(65,080)
Income before income taxes$691,270 $1,142,973 $1,542,981 $2,213,001 
__________________
(1)Acquisition-related charges primarily include amortization of intangible assets and other acquisition-related costs classified or presented as part of costs of revenues.
Our significant operations outside the United States include manufacturing facilities in China, Germany, Israel and Singapore and sales, marketing and service offices in Japan, the rest of the Asia Pacific region and Europe. For geographical revenue reporting, revenues are attributed to the geographic location in which the customer is located. Long-lived assets consist of land, property and equipment, net, and are attributed to the geographic region in which they are located.
The following is a summary of revenues by geographic region, based on ship-to location, for the indicated periods:
(Dollar amounts in thousands)Three Months Ended December 31,Six Months Ended December 31,
2023202220232022
Revenues:
China$1,027,780 41 %$681,701 23 %$2,053,724 42 %$1,521,362 27 %
Taiwan375,259 15 %768,999 26 %780,602 16 %1,517,333 27 %
Korea310,672 12 %590,936 20 %530,493 11 %998,398 17 %
Japan297,757 12 %269,746 9 %525,134 11 %487,455 9 %
North America263,613 11 %366,641 12 %514,326 10 %600,395 10 %
Europe and Israel123,362 5 %169,614 5 %291,798 6 %333,687 6 %
Rest of Asia88,283 4 %136,250 5 %187,605 4 %249,681 4 %
Total$2,486,726 100 %$2,983,887 100 %$4,883,682 100 %$5,708,311 100 %
The following is a summary of revenues by major product categories for the indicated periods:
(Dollar amounts in thousands)Three Months Ended December 31,Six Months Ended December 31,
2023202220232022
Revenues:
Wafer Inspection$1,166,484 47 %$1,256,540 42 %$2,176,682 45 %$2,359,082 41 %
Patterning430,384 17 %861,262 29 %972,872 20 %1,594,632 28 %
Specialty Semiconductor Process136,278 6 %145,542 5 %248,381 5 %259,986 5 %
PCB, Display and Component Inspection77,298 3 %108,644 4 %148,462 3 %243,087 4 %
Services564,917 23 %520,479 17 %1,125,209 23 %1,049,294 18 %
Other111,365 4 %91,420 3 %212,076 4 %202,230 4 %
Total$2,486,726 100 %$2,983,887 100 %$4,883,682 100 %$5,708,311 100 %
Wafer Inspection and Patterning products are offered in the Semiconductor Process Control segment. Services are offered in multiple segments. Other includes primarily refurbished systems, remanufactured legacy systems, and enhancements and upgrades for previous-generation products that are part of the Semiconductor Process Control segment.
In the three months ended December 31, 2023, no customers accounted for greater than 10% of total revenues. In the three months ended December 31, 2022, two customers accounted for approximately 21% and 17% of total revenues, respectively. In the six months ended December 31, 2023, one customer accounted for approximately 11% of total revenues. In the six months ended December 31, 2022, two customers accounted for approximately 21% and 14% of total revenues, respectively. One customer and two customers on an individual basis accounted for greater than 10% of accounts receivable, net, at December 31, 2023 and at June 30, 2023, respectively.
Land, property and equipment, net by geographic region as of the dates indicated below were as follows: 
As ofAs of
(In thousands)December 31, 2023June 30, 2023
Land, property and equipment, net:
United States$696,386 $672,561 
Singapore153,360 150,989 
Europe110,041 74,015 
Israel90,804 92,815 
Rest of Asia38,233 41,461 
Total$1,088,824 $1,031,841