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Business Segments
 3 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Business Segments
11.    Business Segments
 
The Animal Health segment manufactures and markets a broad range of products for food animals, including poultry, swine, cattle, dairy and aquaculture. The business includes net sales of medicated feed additives and other related products, nutritional specialty products and vaccines. The Mineral Nutrition segment manufactures and markets a broad range of trace mineral products for food animals. The Performance Products segment manufactures and markets a variety of products for use in the personal care, automotive, industrial chemical and chemical catalyst industries.
We evaluate performance and allocate resources based on the Animal Health, Mineral Nutrition and Performance Products segments. Certain of our costs and assets are not directly attributable to these segments and such costs are referred to as Corporate. We do not allocate such items to the principal segments because they are not used to evaluate their operating results or financial position.
We evaluate performance of our segments based on Adjusted EBITDA. We define Adjusted EBITDA as income before income taxes plus (a) interest expense, net, (b) depreciation and amortization, (c) (income) loss from, and disposal of, discontinued operations, (d) other expense or less other income, as separately reported on our consolidated statements of operations, including foreign currency gains and losses and loss on extinguishment of debt, and (e) certain items that we consider to be unusual, non-operational or non-recurring.
The accounting policies of our segments are the same as those described in the summary of significant accounting policies included herein.
     
Three Months
  
For the Periods Ended September 30
    
2016
    
2015
  
Net sales                          
   MFAs and other
       $ 83,419         $ 85,521    
   Nutritional Specialties
         26,304           22,370    
   Vaccines
         14,778           12,243    
Animal Health
         124,501           120,134    
Mineral Nutrition
         51,592           54,469    
Performance Products
         11,894           12,517    
Total segments
       $ 187,987         $ 187,120    
Depreciation and amortization                          
Animal Health
       $ 4,898         $ 3,876    
Mineral Nutrition
         542           608    
Performance Products
         218           194    
Total segments
       $ 5,658         $ 4,678    
Adjusted EBITDA      
Animal Health
       $ 32,619         $ 31,476    
Mineral Nutrition
         3,988           3,160    
Performance Products
         742           86    
Total segments
       $ 37,349         $ 34,722    
Reconciliation of income before income taxes to Adjusted EBITDA
                          
Income before income taxes
       $ 17,572         $ 23,492    
Interest expense, net
         3,907           3,819    
Depreciation and amortization – Total segments
         5,658           4,678    
Depreciation and amortization – Corporate
         660           751    
Corporate costs
         7,524           7,015    
Acquisition-related accrued compensation
         420           420    
Acquisition-related transaction costs
         1,274           —    
Foreign currency (gains) losses, net
         334           (5,453)    
Adjusted EBITDA – Total segments
       $ 37,349         $ 34,722    
 
As of
    
September 30,
2016
    
June 30,
2016
  
Identifiable assets                          
Animal Health
       $ 435,512         $ 444,751    
Mineral Nutrition
         59,687           57,939    
Performance Products
         20,988           21,557    
Total segments
         516,187           524,247    
Corporate
         81,897           83,588    
Total
       $ 598,084         $ 607,835    
 
The Animal Health segment includes all goodwill of the Company. The Animal Health segment includes advances to and investment in an equity method investee of  $4,040 and $4,076 as of September 30, 2016, and June 30, 2016, respectively. The Performance Products segment includes an investment in an equity method investee of  $428 and $504 as of September 30, 2016, and June 30, 2016, respectively. Corporate assets include cash and cash equivalents, debt issuance costs related to the Revolver, income tax related assets and certain other assets.