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Revenue from Contracts with Customers

12 Months Ended

Jun. 30, 2019

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

Note 5. Revenue from Contracts with Customers

The following table summarizes disaggregated revenue by market and product for the year ended June 30, 2019 ($000):

		Twelve Months Ended June 30, 2019
		II-VI										II-VI
		Laser					II-VI					Performance
		Solutions					Photonics					Products					Total
Commercial
Direct Ship Parts		$		382,066			$		631,407			$		181,036			$		1,194,509
Services				3,738					7,482					10,426					21,646
U.S. Government
Direct Ship Parts		$		10,751			$		-			$		119,562			$		130,313
Services				18					-					16,010					16,028
Total Revenues		$		396,573			$		638,889			$		327,034			$		1,362,496

Contract Liabilities

Payments received from customers are based on invoices or billing schedules as established in contracts with customers. Contract liabilities relate to billings in advance of performance under the contract. Contract liabilities are recognized as revenue when the performance obligation has been performed. During the year ended June 30, 2019, the Company recognized revenue of $3.4 million related to customer payments that were included in the consolidated balance sheet as of July 1, 2018. As of June 30, 2019, the Company had $19.4 million of contract liabilities recorded in the consolidated balance sheet.

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- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-URI http://asc.fasb.org/topic&trid=2122369

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