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Revenue from Contracts with Customers | 12 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | Revenue from Contracts with Customers We believe that disaggregating revenue by end market provides the most relevant information regarding the nature, amount, timing, and uncertainty of revenues and cash flows. Effective July 1, 2022, we disaggregate revenue into four end markets: industrial, communications, electronics and instrumentation. All prior period market and segment disclosure information has been reclassified to conform to the current reporting structure. As a result of the Merger, we now have the following operating segments: Networking, Materials and Lasers. Additionally, prior year numbers were recast to reflect the transfer of two entities between the Networking and Materials segments. See Note 14. Segment and Geographic Reporting for further information. The following table summarizes disaggregated revenue by market for the years ended June 30, 2023, 2022 and 2021 ($000):
| Year Ended June 30, 2023
| Networking |  | Materials |  | Lasers |  | Total
Industrial | $ | 70,076 |  |  | $ | 603,664 |  |  | $ | 1,087,881 |  |  | $ | 1,761,621 |
Communications | 2,219,677 |  |  | 73,703 |  |  | — |  |  | 2,293,380 |
Electronics | 11,488 |  |  | 614,151 |  |  | — |  |  | 625,639 |
Instrumentation | 39,689 |  |  | 58,240 |  |  | 381,531 |  |  | 479,460 |
Total Revenues | $ | 2,340,930 |  |  | $ | 1,349,758 |  |  | $ | 1,469,412 |  |  | $ | 5,160,100 |
| Year Ended June 30, 2022
| Networking |  | Materials |  | Lasers |  | Total
Industrial | $ | 84,032 |  |  | $ | 662,731 |  |  | $ | — |  |  | $ | 746,763 |
Communications | 2,064,424 |  |  | 90,406 |  |  | — |  |  | 2,154,830 |
Electronics | 12,218 |  |  | 298,156 |  |  | — |  |  | 310,374 |
Instrumentation | 36,575 |  |  | 68,074 |  |  | — |  |  | 104,649 |
Total Revenues | $ | 2,197,249 |  |  | $ | 1,119,367 |  |  | $ | — |  |  | $ | 3,316,616 |
| Year Ended June 30, 2021
| Networking |  | Materials |  | Lasers |  | Total
Industrial | $ | 58,919 |  |  | $ | 585,957 |  |  | $ | — |  |  | $ | 644,876 |
Communications | 1,904,624 |  |  | 80,449 |  |  | — |  |  | 1,985,073 |
Electronics | 13,636 |  |  | 364,941 |  |  | — |  |  | 378,577 |
Instrumentation | 27,131 |  |  | 70,234 |  |  | — |  |  | 97,365 |
Total Revenues | $ | 2,004,310 |  |  | $ | 1,101,581 |  |  | $ | — |  |  | $ | 3,105,891 |
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 contracts. Contract liabilities are recognized as revenue when performance obligations have been satisfied. During the year ended June 30, 2023, we recognized revenue of $34 million related to customer payments that were included in the Consolidated Balance Sheet as of June 30, 2022. As of June 30, 2023 and June 30, 2022, we had $148 million and $69 million, respectively, of contract liabilities recorded in the Consolidated Balance Sheets. Contract liabilities acquired from the Merger totaled $77 million. As of June 30, 2023, $104 million of deferred revenue is included other accrued liabilities, and $43 million is included within other liabilities on 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://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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