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Segment Reporting
 9 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Reporting 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 financial performance.
The Company reports its financial results in the following two segments: (i) Compound Semiconductors, and (ii) Photonic Solutions, 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.
Both the acquisitions of Ascatron and Innovion are presented within the Compound Semiconductors segment since the dates of acquisition.
The accounting policies are consistent across each segment. To the extent possible, the Company’s corporate expenses and assets are allocated to the segments. Unallocated and Other includes eliminating inter-segment sales and transfers, the results of Finisar since the acquisition date through September 30, 2019, and transaction costs related to the Finisar transaction. The expenses associated with the pending acquisition of Coherent for the three and nine months ended March 31, 2021 have not been allocated to an Operating Segment, and are presented in the Unallocated and Other.
The following tables summarize selected financial information of the Company’s operations by segment ($000):
Three Months Ended March 31, 2021
Photonic
Solutions		Compound
Semiconductors		Unallocated
& Other		Total
Revenues$507,981 $275,251 $— $783,232 
Inter-segment revenues12,209 61,272 (73,481)— 
Operating income48,286 52,522 (15,728)85,080 
Interest expense— — — (13,034)
Other income, net— — — 21,432 
Income taxes— — — (12,387)
Net earnings— — — 81,092 
Depreciation and amortization41,060 26,925 — 67,985 
Expenditures for property, plant & equipment16,364 9,639 — 26,002 
Segment assets4,182,088 2,179,632 — 6,361,720 
Goodwill1,052,029 241,483 — 1,293,512 

Three Months Ended March 31, 2020
Photonic
Solutions		Compound
Semiconductors		Unallocated
& Other		Total
Revenues$417,769 $209,272 $— $627,041 
Inter-segment revenues6,899 36,492 (43,391)— 
Operating income (loss)48,706 24,894 (4,563)69,036 
Interest expense— — — (28,530)
Other expense, net— — — (7,168)
Income taxes— — — (27,417)
Net earnings— — — 5,921 
Depreciation and amortization14,272 23,752 — 38,024 
Expenditures for property, plant & equipment8,083 19,604 — 27,687 


Nine Months Ended March 31, 2021
Photonic
Solutions		Compound
Semiconductors		Unallocated
& Other		Total
Revenues$1,488,587 $809,298 $— $2,297,885 
Inter-segment revenues27,866 193,171 (221,037)— 
Operating income (loss)147,159 173,494 (15,728)304,925 
Interest expense— — — (45,833)
Other expense, net— — — 246 
Income taxes— — — (44,081)
Net earnings— — — 215,258 
Depreciation and amortization119,510 80,360 — 199,870 
Expenditures for property, plant & equipment62,450 42,881 — 105,331 
Nine Months Ended March 31, 2020
Photonic
Solutions		Compound
Semiconductors		Unallocated
& Other		Total
Revenues$1,019,518 $592,212 $22,051 $1,633,781 
Inter-segment revenues21,245 116,548 (137,793)— 
Operating income (loss)793 42,580 (71,389)(28,017)
Interest expense— — — (63,888)
Other expense, net— — — (12,734)
Income taxes— — — (13,651)
Net loss— — — (118,290)
Depreciation and amortization76,262 67,119 3,743 147,124 
Expenditures for property, plant & equipment38,785 66,426 2,764 107,975