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Segment Reporting | 3 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company’s businesses are organized and managed into segments based on similarities in products and services. Segment determination reflects how the chief operating decision-maker (“CODM”) evaluates the Company’s operations for decision-making operating decisions and performance assessment. Effective July 1, 2025, the Company realigned its organizational structure and now identifies multiple operating segments, which are aggregated into two reportable segments: (i) Datacenter & Communications, and (ii) Industrial. In accordance with ASC 280 “Segment Reporting,” the aggregation of the company’s segments is based on similarities in economic characteristics, product and service types, production processes, type or class of customers, and distribution methods. Previously, financial results had been reported in the following three segments: (i) Networking, (ii) Materials, and (iii) Lasers. Comparative prior period segment information has been recast to conform to the new segments. The Datacenter & Communications segment has locations in the United States, Australia, China, Germany, Malaysia, South Korea, Sweden, Switzerland, Thailand, the Philippines and Vietnam. This segment sells primarily into the datacenter and communications market, including transceivers, systems, subsystems, modules, components, optics, and semiconductor devices. The Industrial segment has locations in the United States, China, Finland, Germany, Italy, Japan, Malaysia, Singapore, South Korea, Spain, Sweden, Taiwan, the Philippines, the United Kingdom and Vietnam. This segment sells primarily into the industrial market, which includes lasers, systems, optics, components and materials for semiconductor and display capital equipment, precision manufacturing, life sciences, consumer electronics, scientific research and automotive and market applications. Our CODM receives and reviews financial information based on the operating segments that are aggregated into the two reportable segments. Our CODM evaluates each segment’s performance and allocates resources based on segment revenue and segment profit, as our CODM believes segment profit is a more comprehensive profitability measure for each operating segment. Our CODM is regularly provided with segment revenue and segment profit information to assess performance of each segment. Segment profit includes operating expenses directly managed by operating segments, including research and development, direct sales, marketing and administrative expenses. Segment profit does not include share-based compensation, acquisition or integration related costs, amortization and impairment of acquisition-related intangible assets, restructuring charges, impairment charges on assets held-for-sale, gain on sale of businesses and certain other charges or gains. Additionally, we do not allocate Corporate strategic research and development, strategic marketing and sales expenses and shared general and administrative expenses, as these expenses are not directly attributable to our operating segments. The segments are managed separately due to the unique products and markets that each serves. The Company derives its reportable segment results based on how financial information is reported and aggregated within its management reporting system. The CODM uses segment profit as a key metric in the forecasting process and in making decisions related to capital allocation and resource deployment across segments. The accounting policies are consistent across each segment. Assets by segment are not a measure used to assess the performance of the company by the CODM and thus are not reported in our disclosures. The following table summarizes selected financial information of our operations by segment and reconciles segment profit to consolidated earnings (loss) before income taxes for the periods presented ($000):
| Three Months Ended September 30, |  |
| 2025 |  | 2024 |  |  |  |
Segment revenue |  |  |  |  |  |  |
Datacenter & Communications | $ | 1,090,000 |  |  | $ | 863,642 |  |  |  |  |
Industrial | 491,378 |  |  | 484,493 |  |  |  |  |
Total segment revenue | 1,581,378 |  |  | 1,348,135 |  |  |  |  |
Intersegment revenue |  |  |  |  |  |  |
Datacenter & Communications | 9,177 |  | 10,591 |  |  |  |  |
Industrial | 20,842 |  |  | 13,388 |  |  |  |  |
Elimination of intersegment revenue | (30,020) |  |  | (23,980) |  |  |  |  |
Total intersegment revenue | — |  |  | — |  |  |  |  |
Segment cost of goods sold and operating expenses (1) |  |  |  |  |  |  |
Datacenter & Communications | 829,883 |  |  | 654,893 |  |  |  |  |
Industrial | 395,591 |  |  | 428,943 |  |  |  |  |
Total segment cost of goods sold and operating expenses | 1,225,474 |  |  | 1,083,836 |  |  |  |  |
Segment profit |  |  |  |  |  |  |
Datacenter & Communications | 269,294 |  |  | 219,340 |  |  |  |  |
Industrial | 116,629 |  |  | 68,938 |  |  |  |  |
Total segment profit | 385,923 |  |  | 288,278 |  |  |  |  |
Unallocated Corporate expenses |  |  |  |  |  |  |
Corporate and centralized function costs (2) | (77,343) |  |  | (70,627) |  |  |  |  |
Share-based compensation | (44,683) |  |  | (35,478) |  |  |  |  |
Restructuring costs (3) | (19,276) |  |  | (24,364) |  |  |  |  |
Gain on sale of business | 115,211 |  |  | — |  |  |  |  |
Impairment of assets held-for-sale | (9,100) |  |  | — |  |  |  |  |
Integration, site consolidation and other costs (4) | (22,212) |  |  | (10,747) |  |  |  |  |
Amortization of intangibles | (69,446) |  |  | (71,862) |  |  |  |  |
Interest expense | (58,721) |  |  | (66,644) |  |  |  |  |
Other (income) expense, net | 16,533 |  |  | 10,749 |  |  |  |  |
Earnings before income taxes | $ | 216,886 |  |  | $ | 19,303 |  |  |  |  |
(1)Segment cost of goods sold and operating expenses primarily include manufacturing costs, labor and research and development costs, and exclude expenses and credits that are included in the Unallocated corporate expenses category. (2)We do not allocate corporate and centralized function costs that are not directly attributable to our operating segments. (3)See Note 17. Restructuring Plans for further information. (4)Integration, site consolidation and other costs are $22 million in the three months ended September 30, 2025, primarily consisting of consulting and legal costs related to initiatives to integrate recent acquisitions into common technology systems, to divest businesses and simplify legal entity structure. Integration and site consolidation costs in the three months ended September 30, 2024 primarily include $12 million in consulting costs related to projects to integrate recent acquisitions into common technology systems and simplify legal entity structure, and $1 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. Geographic information for revenues by location of the customer’s headquarters, were as follows ($000):
| Three Months Ended September 30,
| 2025 |  | 2024
North America | $ | 1,002,164 |  |  | $ | 806,757 |
Europe | 191,699 |  |  | 168,912 |
China | 177,669 |  |  | 169,529 |
Japan | 116,324 |  |  | 70,656 |
Rest of World | 93,522 |  |  | 132,281 |
Total | $ | 1,581,378 |  |  | $ | 1,348,135 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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