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v3.25.2

Segment and Geographic Reporting (Tables) | 12 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information by Segment | The following tables set forth the details of revenues and segment profit and reconciles segment profit to consolidated earnings (loss) before income taxes for the periods presented ($000):
2025 |  | Networking |  | Materials |  | Lasers |  | Unallocated |  | Total
Revenues |  | $ | 3,421,276 |  |  | $ | 953,843 |  |  | $ | 1,434,996 |  |  | $ | — |  |  | $ | 5,810,115 |
Inter-segment revenues |  | 58,465 |  |  | 547,601 |  |  | 8,310 |  |  | (614,376) |  |  | — |
Less: |  |  |  |  |  |  |  |  |  |
Cost of goods sold (1) |  | 2,507,154 |  |  | 856,668 |  |  | 836,592 |  |  | (614,376) |  |  | 3,586,038 |
Research and development (1) |  | 247,072 |  |  | 177,822 |  |  | 120,045 |  |  | — |  |  | 544,939 |
Selling, general and administrative (1) |  | 81,993 |  |  | 112,240 |  |  | 170,190 |  |  | — |  |  | 364,423 |
Segment profit |  | $ | 643,522 |  |  | $ | 354,714 |  |  | $ | 316,479 |  |  | $ | — |  |  | 1,314,715 |
Unallocated Corporate expenses |  |  |  |  |  |  |  |  |  |
Corporate and centralized function costs (2) |  |  |  |  |  |  |  |  |  | (277,771) |
Share-based compensation |  |  |  |  |  |  |  |  |  | (160,972) |
Restructuring costs (3) |  |  |  |  |  |  |  |  |  | (160,081) |
Impairment of assets held-for-sale |  |  |  |  |  |  |  |  |  | (84,988) |
Integration, site consolidation and other costs (4) |  |  |  |  |  |  |  |  |  | (38,237) |
Amortization of intangibles |  |  |  |  |  |  |  |  |  | (302,788) |
Interest expense |  |  |  |  |  |  |  |  |  | (243,251) |
Other (income) expense, net |  |  |  |  |  |  |  |  |  | 47,554 |
Earnings before income taxes |  |  |  |  |  |  |  |  |  | $ | 94,181 |
2024 |  | Networking |  | Materials |  | Lasers |  | Unallocated |  | Total
Revenues |  | $ | 2,295,729 |  |  | $ | 1,016,573 |  |  | $ | 1,395,386 |  |  | $ | — |  |  | $ | 4,707,688 |
Inter-segment revenues |  | 45,767 |  |  | 457,623 |  |  | 5,212 |  |  | (508,602) |  |  | — |
Less: |  |  |  |  |  |  |  |  |  |
Cost of goods sold (1) |  | 1,747,317 |  |  | 914,691 |  |  | 873,367 |  |  | (508,602) |  |  | 3,026,773 |
Research and development (1) |  | 174,530 |  |  | 161,402 |  |  | 110,515 |  |  | — |  |  | 446,447 |
Selling, general and administrative (1) |  | 65,997 |  |  | 101,229 |  |  | 209,933 |  |  | — |  |  | 377,159 |
Segment profit |  | $ | 353,652 |  |  | $ | 296,874 |  |  | $ | 206,783 |  |  | $ | — |  |  | 857,309 |
Unallocated Corporate expenses |  |  |  |  |  |  |  |  |  |
Corporate and centralized function costs (2) |  |  |  |  |  |  |  |  |  | (239,259) |
Share-based compensation |  |  |  |  |  |  |  |  |  | (126,895) |
Restructuring costs (3) |  |  |  |  |  |  |  |  |  | (27,054) |
Integration, site consolidation and other costs (4) |  |  |  |  |  |  |  |  |  | (79,820) |
Amortization of intangibles |  |  |  |  |  |  |  |  |  | (288,160) |
Interest expense |  |  |  |  |  |  |  |  |  | (288,475) |
Other (income) expense, net |  |  |  |  |  |  |  |  |  | 44,707 |
Earnings (loss) before income taxes |  |  |  |  |  |  |  |  |  | (147,647) |
2023 |  | Networking |  | Materials |  | Lasers |  | Unallocated |  | Total
Revenues |  | $ | 2,340,930 |  |  | $ | 1,349,758 |  |  | $ | 1,469,412 |  |  | $ | — |  |  | $ | 5,160,100 |
Inter-segment revenues |  | 70,120 |  |  | 362,179 |  |  | 1,517 |  |  | (433,816) |  |  | — |
Less: |  |  |  |  |  |  |  |  |  |
Cost of goods sold (1) |  | 1,701,681 |  |  | 1,061,062 |  |  | 866,195 |  |  | (433,816) |  |  | 3,195,122 |
Research and development (1) |  | 180,350 |  |  | 168,209 |  |  | 123,568 |  |  | — |  |  | 472,127 |
Selling, general and administrative (1) |  | 64,093 |  |  | 91,164 |  |  | 210,611 |  |  | — |  |  | 365,868 |
Segment profit |  | 464,926 |  |  | 391,502 |  |  | 270,555 |  |  | — |  |  | 1,126,983 |
Unallocated Corporate expenses |  |  |  |  |  |  |  |  |  |
Corporate and centralized function costs (2.) |  |  |  |  |  |  |  |  |  | (199,811) |
Share-based compensation |  |  |  |  |  |  |  |  |  | (149,631) |
Restructuring costs and other (3) |  |  |  |  |  |  |  |  |  | (119,101) |
Integration, site consolidation and other costs (4) |  |  |  |  |  |  |  |  |  | (81,503) |
Amortization of intangibles |  |  |  |  |  |  |  |  |  | (414,125) |
Interest expense |  |  |  |  |  |  |  |  |  | (286,872) |
Purchase accounting adjustments |  |  |  |  |  |  |  |  |  | (157,500) |
Transaction costs |  |  |  |  |  |  |  |  |  | (38,652) |
Other (income) expense, net |  |  |  |  |  |  |  |  |  | (31,566) |
Other |  |  |  |  |  |  |  |  |  | (3,780) |
Earnings (loss) before income taxes |  |  |  |  |  |  |  |  |  | $ | (355,558) |
(1)The significant expense category amount aligns with the segment-level information that is regularly provided to the CODM and excludes unallocated corporate expenses (corporate and centralized function costs, share-based compensation, restructuring costs, integration, site consolidation and other costs as well as amortization of intangibles). (2)We do not allocate corporate and centralized function costs that are not directly attributable to our operating segments. (3)See Note 20. Restructuring Plans for further information. (4)Integration and site consolidation costs in the year ended June 30, 2025 includes $35 million in consulting and legal costs related to projects to integrate recent acquisitions into common technology systems and simplify legal entity structure, $2 million of employee severance and retention costs related to sites being shut down as part of our Synergy and Site Consolidation Plan, and $1 million of executive transition costs. Integration and site consolidation costs in the year ended June 30, 2024 primarily include $40 million in consulting costs related to projects to integrate recent acquisitions into common technology systems and simplify legal entity structure, and $40 million of employee severance and retention and other costs related to sites being shut down as part of our 2023 Restructuring Plan or Synergy and Site Consolidation Plan. Integration and site consolidation costs in the year ended June 30, 2023 primarily include $46 million in consulting costs related to projects to integrate recent acquisitions into common technology systems and simplify legal entity structure, and $36 million of employee severance and retention and other costs related to sites being shut down as part of our 2023 Restructuring Plan or Synergy and Site Consolidation Plan.
Schedule of Capital Expenditures, Depreciation And Amortization by Segment | The following tables summarizes capital expenditures by segment ($000):
| Year Ended June 30,
Expenditures for property, plant, and equipment | 2025 |  | 2024 |  | 2023
Networking | $ | 263,425 |  |  | $ | 90,950 |  |  | $ | 98,192 |
Materials | 137,444 |  |  | 224,482 |  |  | 274,434 |
Lasers | 39,967 |  |  | 31,384 |  |  | 63,434 |
Total expenditures for property, plant, and equipment | $ | 440,836 |  |  | $ | 346,816 |  |  | $ | 436,060 |
The following tables summarizes depreciation and amortization by segment ($000):
|  | Year Ended June 30,
Depreciation and amortization |  | 2025 |  | 2024 |  | 2023
Networking |  | $ | 162,225 |  |  | $ | 158,833 |  |  | $ | 169,573 |
Materials |  | 119,118 |  |  | 107,798 |  |  | 141,648 |
Lasers |  | 267,328 |  |  | 287,662 |  |  | 364,370 |
Corporate and shared services |  | 4,927 |  |  | 5,468 |  |  | 6,096 |
Total depreciation and amortization |  | $ | 553,598 |  |  | $ | 559,761 |  |  | $ | 681,687 |
Schedule of Segment Assets | The following tables summarizes segment assets ($000):
|  | Year Ended June 30,
Segment assets and reconciliation to total assets |  | 2025 |  | 2024 |  | 2023
Networking |  | $ | 4,027,777 |  |  | $ | 3,472,866 |  |  | $ | 3,188,873 |
Materials |  | 2,779,093 |  |  | 3,017,858 |  |  | 2,043,241 |
Lasers |  | 7,541,129 |  |  | 7,361,731 |  |  | 7,751,937 |
Corporate and shared services |  | 562,937 |  |  | 636,179 |  |  | 727,082 |
Total assets |  | $ | 14,910,936 |  |  | $ | 14,488,634 |  |  | $ | 13,711,133 |
Schedule of Geographic Information for Revenues | Geographic information for revenues by location of the customer’s headquarters, were as follows ($000):
|  | Revenues
Year Ended June 30, |  | 2025 |  | 2024 |  | 2023
North America |  | $ | 3,564,846 |  |  | $ | 2,622,569 |  |  | $ | 2,745,891 |
Europe |  | 698,800 |  |  | 714,282 |  |  | 979,911 |
China |  | 680,110 |  |  | 621,918 |  |  | 577,180 |
Japan |  | 390,610 |  |  | 340,863 |  |  | 392,479 |
Rest of World |  | 475,749 |  |  | 408,056 |  |  | 464,639 |
Total |  | $ | 5,810,115 |  |  | $ | 4,707,688 |  |  | $ | 5,160,100 |
Schedule of Geographic Information for Long-lived Assets | 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 ($000):
|  | Long-Lived Assets
June 30, |  | 2025 |  | 2024
United States |  | $ | 1,092,389 |  |  | $ | 1,226,359 |
Non-United States |  |  |  |
China |  | 402,960 |  |  | 349,195 |
Malaysia |  | 196,543 |  |  | 87,783 |
Germany |  | 189,281 |  |  | 209,593 |
Vietnam |  | 65,565 |  |  | 20,707 |
Sweden |  | 51,032 |  |  | 44,733 |
Switzerland |  | 49,602 |  |  | 44,256 |
Philippines |  | 25,406 |  |  | 11,217 |
United Kingdom |  | 20,594 |  |  | 19,153 |
Korea |  | 16,037 |  |  | 17,862 |
Australia |  | 9,014 |  |  | 8,611 |
Taiwan |  | 6,063 |  |  | 6,705 |
Other |  | 23,044 |  |  | 23,166 |
Total Non-United States |  | 1,055,141 |  |  | 842,981 |
|  | $ | 2,147,530 |  |  | $ | 2,069,340 |

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