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Segment Information

9 Months Ended

Mar. 31, 2020

Segment Information [Abstract]

Segment Information

(2)      Segment Information

We have quantitatively and qualitatively determined that we operate in two operating segments, which are the Sleep and Respiratory Care segment and the SaaS segment.

We evaluate the performance of our segments based on net sales and income from operations. The accounting policies of the segments are the same as those described in note 1 of our consolidated financial statements included in our Form 10-K for the year ended June 30, 2019. Segment net sales and segment income from operations do not include inter-segment profits and revenue is allocated to a geographic area based on where the products are shipped to or where the services are performed.

Certain items are maintained at the corporate level and are not allocated to the segments. The non-allocated items include corporate headquarters costs, stock-based compensation, amortization expense from acquired intangibles, acquisition related expenses, interest income, interest expense and other, net. We neither discretely allocate assets to our operating segments, nor does our Chief Operating Decision Maker evaluate the operating segments using discrete asset information.

The table below presents a reconciliation of net revenues and net operating profit by reportable segments (in thousands):

		Three Months Ended ‎March 31,						Nine Months Ended ‎March 31,
		2020			2019			2020			2019
Revenue by segment
Total Sleep and Respiratory Care		$	679,895		$	582,286		$	1,923,513		$	1,710,994
Software as a Service			89,560			82,196			265,258			194,897
Deferred revenue fair value adjustment			-			(2,254)			(2,102)			(4,283)
Total Software as a Service			89,560			79,942			263,156			190,614
Total		$	769,455		$	662,228		$	2,186,669		$	1,901,608
Net operating profit by segment
Sleep and Respiratory Care		$	250,209		$	190,203		$	678,468		$	562,490
Software as a Service			18,738			20,457			63,874			52,737
Total		$	268,947		$	210,660		$	742,342		$	615,227
Reconciling items
Corporate costs		$	31,039		$	28,635		$	94,933		$	95,133
Amortization of acquired intangible assets			20,408			22,794			59,495			51,501
Litigation settlement expenses			-			-			(600)			-
Acquisition related expenses			-			-			-			6,123
Deferred revenue fair value adjustment			-			2,254			2,102			4,283
Interest income			(116)			(415)			(766)			(2,014)
Interest expense			9,968			12,413			31,180			23,608
Loss attributable to equity method investments			5,295			5,996			19,082			9,371
Other, net			10,698			1,054			15,922			4,140
Income before income taxes		$	191,655		$	137,929		$	520,994		$	423,082

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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