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Segment and Geographic Reporting
 12 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment and Geographic Reporting Segment and Geographic Reporting
Our Chief Executive Officer has been identified as the chief operating decision maker (“CODM”) as he utilizes financial information to make decisions about allocating resources and assessing performance for the entire Company, which is used in the decision-making process to assess performance. We determine our reportable business segments based on the way the CODM organizes business segments within the Company for making operating decisions and assessing performance.
Effective July 1, 2022, we report our financial results in the following three segments: (i) Networking, (ii) Materials, and (iii) Lasers. Previously, financial results had been reported in the following two segments: (i) Photonic Solutions and (ii) Compound Semiconductors. The Networking segment represents the former Photonic Solutions segment and the Materials segment represents the former Compound Semiconductors segment.
The Networking segment has locations in the United States, Singapore, China, Germany, Switzerland, Japan, Belgium, the United Kingdom, Italy, South Korea, the Philippines, Vietnam, Sweden, and Taiwan. This segment address all of Coherent’s four end markets, namely: communications, industrial, electronics, and instrumentation, with a concentration in the communications market. This segment designs, manufactures and markets the following products: (i) optical and electro-optical components and materials used primarily in CO2 lasers, fiber-lasers and direct diode lasers for materials processing applications; (ii) infrared optical components and high-precision optical assemblies for aerospace & defense, medical and commercial laser imaging applications; (iii) semiconductor lasers and detectors for optical interconnects and sensing applications; (iv) engineered materials for thermoelectric, ceramics and silicon carbide for a wide range of applications; and (v) compound semiconductor epitaxial wafers for applications in optical and wireless communication.
The Materials segment has locations in the United States, China, Vietnam, Germany, Japan, the United Kingdom, Italy, Malaysia, and Australia. This segment manufactures (i) transceivers for data centers and telecom optical networks; (ii) pump lasers, optical amplifiers, wavelength selective switches and advanced components for telecom networks; (iii) crystal materials, optics, lasers and optoelectronic modules for a wide range of applications, including in optical communications, life sciences, and consumer electronics markets.
The Lasers segment has locations in the United States, Germany, Scotland, Finland, Sweden, Switzerland, Spain, South Korea, Singapore, and Malaysia. The Lasers segment’s lasers and optics products serve industrial customers in semiconductor and display capital equipment, precision manufacturing, and aerospace & defense, as well as instrumentation customers in life sciences and scientific devices.
To the extent possible, our corporate expenses are allocated to the segments. The Company’s CODM evaluates the performance of its segments based upon reported segment operating income, which is defined as earnings from continuing operations before income taxes, interest and other income or expense. Unallocated and Other include eliminating inter-segment sales and transfers as well as transaction costs related to the Coherent acquisition, before its close, in the fiscal year ended June 30, 2022 and June 30, 2021.
The following tables summarize selected financial information of our operations by segment:
NetworkingMaterialsLasersUnallocated
& Other		Total
($000)
2023
Revenues$2,340,930 $1,349,758 $1,469,412 $— $5,160,100 
Inter-segment revenues70,120 362,179 1,517 (433,817)— 
Operating income (loss)222,365 159,581 (419,066)— (37,120)
Interest expense— — — — (286,872)
Other income, net— — — — (31,566)
Income taxes— — — — 96,100 
Net loss— — — — (259,458)
Depreciation and amortization172,339 143,243 366,105 — 681,687 
Expenditures for property, plant & equipment98,192 274,434 63,434 — 436,060 
Segment assets3,316,555 2,561,156 7,833,422 — 13,711,133 
Goodwill1,036,204 247,695 3,228,801 — 4,512,700 
NetworkingMaterialsLasersUnallocated
& Other		Total
($000)
2022
Revenues$2,197,249 $1,119,367 $— $— $3,316,616 
Inter-segment revenues93,660 272,580 — (366,240)— 
Operating income (loss)231,563 218,601 — (35,870)414,294 
Interest expense— — — — (121,254)
Other income, net— — — — (11,233)
Income taxes— — — — (47,048)
Net earnings— — — — 234,759 
Depreciation and amortization172,092 114,687 — — 286,779 
Expenditures for property, plant & equipment89,616 224,716 — — 314,332 
Segment assets4,897,252 2,947,594 — — 7,844,846 
Goodwill1,013,277 272,482 — — 1,285,759 
NetworkingMaterialsLasersUnallocated
& Other		Total
($000)
2021
Revenues$2,004,310 $1,101,581 $— $— $3,105,891 
Inter-segment revenues76,284 203,481 — (279,765)— 
Operating income201,453 227,438 — (26,772)402,119 
Interest expense— — — — (59,899)
Other income, net— — — — 10,370 
Income taxes— — — — (55,038)
Net earnings— — — — 297,552 
Depreciation and amortization160,458 109,611 — — 270,069 
Expenditures for property, plant & equipment85,482 60,855 — — 146,337 
Segment Assets4,240,869 2,271,781 — — 6,512,650 
Goodwill1,017,562 279,165 — — 1,296,727 

Geographic information for revenues by location of the customer’s headquarters, were as follows:
Revenues
Year Ended June 30,202320222021
($000)
North America$2,745,891 $1,771,385 $1,560,254 
Europe979,911 623,157 567,703 
China577,180 614,393 680,479 
Japan392,479 196,512 203,655 
Rest of World464,639 111,169 93,800 
Total$5,160,100 $3,316,616 $3,105,891 
    
Major Customers
We had one major customer who accounted for 10% of consolidated revenue during fiscal 2023. The customer purchased primarily from our Networking segment.
Geographic information for long-lived assets by country, which include property, plant and equipment, net of related depreciation, and certain other long-term assets, were as follows:
Long-Lived Assets
June 30,20232022
($000)
United States$1,069,012 $902,163 
Non-United States
China365,331 394,056 
Germany216,336 14,521 
United Kingdom77,474 63,898 
Malaysia70,424 64,807 
Switzerland47,110 40,540 
Sweden38,981 28,030 
Korea20,869 4,325 
Vietnam17,739 16,844 
Australia8,641 10,478 
Taiwan7,883 7,025 
Philippines7,205 7,375 
Other24,853 3,996 
Total Non-United States$902,846 $655,894 
$1,971,858 $1,558,057