XML 51 R31.htm IDEA: XBRL DOCUMENT
v3.25.2

Assets Held for Sale | 12 Months Ended
--- | ---
Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held for Sale | Assets Held-for-Sale In the fourth quarter of fiscal 2025, management entered into non-binding agreements to sell several entities. As a result of classifying these entities as held-for-sale, we recorded non-cash impairment charges of $85 million in our Lasers segment to Impairment of assets held-for-sale in our Consolidated Statements of Earnings (Loss) in the fourth quarter of fiscal 2025 to reduce our carrying value in these entities to fair value. Current assets and current liabilities held for sale are recorded in Prepaid and other current assets and Other accrued liabilities, respectively, in our Consolidated Balance Sheet. Noncurrent assets and noncurrent liabilities held for sale are recorded in Other assets and Other liabilities, respectively, in our Consolidated Balance Sheet. Assets and liabilities held-for-sale are in our Lasers and Materials segments. On August 2, 2025, we entered into an agreement to sell our aerospace and defense business for $400 million. We expect to close this transaction in the first quarter of fiscal 2026. Although the assets of this business were classified as held-for-sale at June 30, 2025, we did not record an impairment loss on this business as we expect to recognize a gain in the first quarter of fiscal 2026 when the sale of the business closes. Current and noncurrent assets and liabilities classified as held for sale as of June 30, 2025 related to these entities are as follows ($000):
|  | June 30, 2025 |
Accounts receivable |  | $ | 43,353 |  |  |  |  |
Inventories |  | 97,236 |  |  |
Prepaid and refundable income taxes |  | 9,023 |  |  |  |  |
Prepaid and other current assets |  | 3,067 |  |  |
Total current assets held-for-sale |  | $ | 152,679 |  |  |  |  |
Property, plant & equipment, net |  | $ | 103,863 |  |  |
Goodwill |  | 174,373 |  |  |  |  |
Intangible assets |  | 141,647 |  |  |
Other assets |  | 32 |  |  |  |  |
Less: Impairment of assets held-for-sale |  | (84,988) |  |  |  |  |
Total noncurrent assets held-for-sale |  | $ | 334,927 |  |  |  |  |
Accounts payable |  | $ | 19,209 |  |  |  |  |
Accrued compensation and benefits |  | 16,768 |  |  |  |  |
Operating lease current liabilities |  | 2,441 |  |  |  |  |
Accrued income taxes payable |  | (226) |  |  |  |  |
Other accrued liabilities |  | 19,202 |  |  |
Total current liabilities held-for-sale |  | $ | 57,394 |  |  |  |  |
Deferred income taxes |  | $ | 14,785 |  |  |  |  |
Operating lease liabilities |  | 5,980 |  |  |  |  |
Other liabilities |  | 7,870 |  |  |  |  |
Total noncurrent liabilities held-for-sale |  | $ | 28,635 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration