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SEGMENT REPORTING AND GEOGRAPHIC INFORMATION
 9 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING AND GEOGRAPHIC INFORMATION SEGMENT REPORTING AND GEOGRAPHIC INFORMATION
ASC 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.
Our operating segments are aggregated into reportable segments based on several factors including, but not limited to, customer base, homogeneity of products, technology, delivery channels and similar economic characteristics. We have three reportable segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.
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.
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.
PCB and Component Inspection
The PCB 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. In March 2024, we made the decision to exit the Display business by announcing we would end manufacturing of most Display products but will continue to provide services to the installed base of Display products for existing customers.
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 March 31,Nine Months Ended March 31,
(In thousands)2025202420252024
Semiconductor Process Control:
Revenues$2,738,817 $2,096,005 $8,069,711 $6,425,562 
Segment gross profit1,765,194 1,343,467 5,145,053 4,148,335 
Specialty Semiconductor Process:
Revenues156,500 130,649 445,241 407,433 
Segment gross profit83,827 69,280 229,443 219,859 
PCB and Component Inspection:
Revenues168,552 133,399 467,615 412,474 
Segment gross profit81,099 (949)194,162 96,036 
Totals:
Revenues for reportable segments$3,063,869 $2,360,053 $8,982,567 $7,245,469 
Segment gross profit$1,930,120 $1,411,798 $5,568,658 $4,464,230 
The following table reconciles total reportable segment revenues to total revenues for the indicated periods:
 Three Months Ended March 31,Nine Months Ended March 31,
(In thousands)2025202420252024
Total revenues for reportable segments$3,063,869 $2,360,053 $8,982,567 $7,245,469 
Corporate allocations and effects of changes in foreign currency exchange rates(840)(223)(1,146)(1,957)
Total revenues$3,063,029 $2,359,830 $8,981,421 $7,243,512 
The following table reconciles total segment gross profit to income before income taxes for the indicated periods:
 Three Months Ended March 31,Nine Months Ended March 31,
(In thousands)2025202420252024
Total segment gross profit$1,930,120 $1,411,798 $5,568,658 $4,464,230 
Acquisition-related charges, corporate allocations and effects of changes in foreign currency exchange rates(1)
42,780 45,853 131,818 138,240 
R&D338,043 321,590 1,007,345 953,222 
SG&A248,905 237,514 767,028 714,403 
Impairment of goodwill and purchased intangible assets— 70,474 239,100 289,474 
Interest expense71,889 79,981 229,041 228,417 
Other expense (income), net(35,930)(45,622)(121,323)(104,515)
Income before income taxes$1,264,433 $702,008 $3,315,649 $2,244,989 
__________________
(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 March 31,Nine Months Ended March 31,
2025202420252024
Revenues:
Taiwan$988,470 32 %$433,916 18 %$2,331,672 26 %$1,214,518 17 %
China792,884 26 %996,885 42 %3,083,713 34 %3,050,609 42 %
Korea378,548 12 %201,290 9 %974,656 11 %731,783 10 %
Japan338,651 11 %267,045 11 %755,834 9 %792,179 11 %
North America293,980 10 %246,993 10 %1,081,114 12 %761,319 11 %
Europe and Israel170,056 6 %129,350 6 %449,142 5 %421,148 6 %
Rest of Asia100,440 3 %84,351 4 %305,290 3 %271,956 3 %
Total$3,063,029 100 %$2,359,830 100 %$8,981,421 100 %$7,243,512 100 %
The following is a summary of revenues by major product categories for the indicated periods:
(Dollar amounts in thousands)Three Months Ended March 31,Nine Months Ended March 31,
2025202420252024
Revenues:
Wafer Inspection$1,495,685 49 %$987,709 42 %$4,427,238 49 %$3,164,391 43 %
Patterning636,415 21 %539,296 23 %1,743,504 20 %1,512,168 21 %
Specialty Semiconductor Process138,376 4 %116,449 5 %394,165 4 %364,830 5 %
PCB and Component Inspection104,254 3 %68,332 3 %270,489 3 %216,794 3 %
Services669,208 22 %590,461 25 %1,980,749 22 %1,715,670 24 %
Other19,091 1 %57,583 2 %165,276 2 %269,659 4 %
Total$3,063,029 100 %$2,359,830 100 %$8,981,421 100 %$7,243,512 100 %
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 March 31, 2025, one customer accounted for approximately 23% of total revenues. In the three months ended March 31, 2024, one customer accounted for approximately 14% of revenues. In the nine months ended March 31, 2025, one customer accounted for approximately 20% of total revenues. In the nine months ended March 31, 2024, one customer accounted for approximately 12% of total revenues. Two customers and one customer on an individual basis accounted for greater than 10% of accounts receivable, net, at March 31, 2025 and at June 30, 2024, respectively.
Land, property and equipment, net by geographic region as of the dates indicated below were as follows: 
As ofAs of
(In thousands)March 31, 2025June 30, 2024
Land, property and equipment, net:
United States$710,572 $689,937 
Europe231,375 155,812 
Singapore152,287 148,557 
Israel71,970 84,279 
Rest of Asia32,098 31,383 
Total$1,198,302 $1,109,968