XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Segment Reporting | 9 Months Ended
--- | ---
Mar. 31, 2018
Segment Reporting [Abstract] |
Segment Reporting |
Note 10. | Segment Reporting
The Company reports its business segments using the “management approach” model for segment reporting. This means that the Company determines its reportable business segments based on the way the chief operating decision maker organizes business segments within the Company for making operating decisions and assessing performance. The Company reports its financial results in the following three segments: (i) II-VI Laser Solutions, (ii) II-VI Photonics, and (iii) II-VI Performance Products, and the Company’s chief operating decision maker receives and reviews financial information based on these segments. The Company evaluates business segment performance based upon segment operating income, which is defined as earnings before income taxes, interest and other income or expense. The segments are managed separately due to the market, production requirements and facilities unique to each segment. In June 2017, the Company completed its acquisition of IPI. See Note 3. Acquisitions and Investment. The operating results of this acquisition have been reflected in the selected financial information of the Company’s II-VI Photonics segment since the date of acquisition. In August 2017, the Company completed its acquisition of II-VI Compound Semiconductor Ltd. See Note 3. Acquisitions and Investment. The operating results of this acquisition have been reflected in the selected financial information of the Company’s II-VI Laser Solutions segment since the date of acquisition. The accounting policies are consistent across each of the segments. The Company’s corporate expenses and assets are allocated to the segments. The Company evaluates segment performance based upon reported segment operating income, which is defined as earnings before income taxes, interest and other income or expense. Inter-segment sales and transfers are eliminated. The following tables summarize selected financial information of the Company’s operations by segment ($000):
|  | Three Months Ended March 31, 2018 |
|  | II-VI |  |  |  |  |  |  | II-VI |  |  |  |  |  |  |  |  |
|  | Laser |  |  | II-VI |  |  | Performance |  |  |  |  |  |  |  |  |
|  | Solutions |  |  | Photonics |  |  | Products |  |  | Eliminations |  |  | Total |
Revenues |  | $ | 109,796 |  |  | $ | 116,778 |  |  | $ | 68,172 |  |  | $ | - |  |  | $ | 294,746 |
Inter-segment revenues |  |  | 8,256 |  |  |  | (501 | ) |  |  | 1,707 |  |  |  | (9,462 | ) |  |  | - |
Operating income |  |  | 9,932 |  |  |  | 16,637 |  |  |  | 8,169 |  |  |  | - |  |  |  | 34,738 |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5,014 | )
Other income (expense), net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,496 |
Income taxes |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,122 | )
Net earnings |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 30,098 |
Depreciation and amortization |  |  | 10,306 |  |  |  | 5,651 |  |  |  | 3,967 |  |  |  | - |  |  |  | 19,924 |
Segment assets |  |  | 769,649 |  |  |  | 586,475 |  |  |  | 381,110 |  |  |  | - |  |  |  | 1,737,234 |
Expenditures for property, plant & equipment |  |  | 16,773 |  |  |  | 15,461 |  |  |  | 6,380 |  |  |  | - |  |  |  | 38,614 |
Investments |  |  | - |  |  |  | - |  |  |  | 68,222 |  |  |  | - |  |  |  | 68,222 |
|  | Three Months Ended March 31, 2017 |
|  | II-VI |  |  |  |  |  |  | II-VI |  |  |  |  |  |  |  |  |
|  | Laser |  |  | II-VI |  |  | Performance |  |  |  |  |  |  |  |  |
|  | Solutions |  |  | Photonics |  |  | Products |  |  | Eliminations |  |  | Total |
Revenues |  | $ | 83,648 |  |  | $ | 109,099 |  |  | $ | 52,240 |  |  | $ | - |  |  | $ | 244,987 |
Inter-segment revenues |  |  | 9,661 |  |  |  | 3,450 |  |  |  | 2,713 |  |  |  | (15,824 | ) |  |  | - |
Operating income |  |  | 8,337 |  |  |  | 15,898 |  |  |  | 4,804 |  |  |  | - |  |  |  | 29,039 |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,936 | )
Other income (expense), net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,164 |
Income taxes |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (6,837 | )
Net earnings |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 22,430 |
Depreciation and amortization |  |  | 5,713 |  |  |  | 5,029 |  |  |  | 4,182 |  |  |  | - |  |  |  | 14,924 |
Expenditures for property, plant & equipment |  |  | 23,299 |  |  |  | 8,727 |  |  |  | 9,287 |  |  |  | - |  |  |  | 41,313 |
|  | Nine Months Ended March 31, 2018 |
|  | II-VI |  |  |  |  |  |  | II-VI |  |  |  |  |  |  |  |  |
|  | Laser |  |  | II-VI |  |  | Performance |  |  |  |  |  |  |  |  |
|  | Solutions |  |  | Photonics |  |  | Products |  |  | Eliminations |  |  | Total |
Revenues |  | $ | 312,875 |  |  | $ | 337,912 |  |  | $ | 186,932 |  |  | $ | - |  |  | $ | 837,719 |
Inter-segment revenues |  |  | 22,270 |  |  |  | 10,991 |  |  |  | 3,691 |  |  |  | (36,952 | ) |  |  | - |
Operating income |  |  | 22,689 |  |  |  | 53,066 |  |  |  | 21,307 |  |  |  | - |  |  |  | 97,062 |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (13,303 | )
Other income (expense), net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,228 |
Income taxes |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (27,152 | )
Net earnings |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 60,835 |
Depreciation and amortization |  |  | 27,560 |  |  |  | 18,382 |  |  |  | 12,207 |  |  |  | - |  |  |  | 58,149 |
Expenditures for property, plant & equipment |  |  | 53,949 |  |  |  | 35,077 |  |  |  | 26,411 |  |  |  | - |  |  |  | 115,437 |
|  | Nine Months Ended March 31, 2017 |
|  | II-VI |  |  |  |  |  |  | II-VI |  |  |  |  |  |  |  |  |
|  | Laser |  |  | II-VI |  |  | Performance |  |  |  |  |  |  |  |  |
|  | Solutions |  |  | Photonics |  |  | Products |  |  | Eliminations |  |  | Total |
Revenues |  | $ | 244,421 |  |  | $ | 305,824 |  |  | $ | 148,084 |  |  | $ | - |  |  | $ | 698,329 |
Inter-segment revenues |  |  | 24,361 |  |  |  | 10,049 |  |  |  | 7,091 |  |  |  | (41,501 | ) |  |  | - |
Operating income |  |  | 22,628 |  |  |  | 45,689 |  |  |  | 11,549 |  |  |  | - |  |  |  | 79,866 |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (4,547 | )
Other income (expense), net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9,611 |
Income taxes |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (22,303 | )
Net earnings |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 62,627 |
Depreciation and amortization |  |  | 17,025 |  |  |  | 14,853 |  |  |  | 12,844 |  |  |  | - |  |  |  | 44,722 |
Expenditures for property, plant & equipment |  |  | 59,161 |  |  |  | 21,224 |  |  |  | 18,750 |  |  |  | - |  |  |  | 99,135 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration