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Business Segments | 3 Months Ended
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Sep. 30, 2019
Business Segments |
Business Segments | 12. Business Segments 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 we refer to these items as Corporate. We do not allocate Corporate costs or assets to the segments because they are not used to evaluate the segments’ operating results or financial position. Corporate costs include certain costs related to executive management, business technology, legal, finance, human resources and business development. 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 |  | 2019 |  | 2018
Net sales |  |  |  |  |  |
Animal Health |  | $ | 121,850 |  | $ | 131,189
Mineral Nutrition |  |  | 52,649 |  |  | 54,838
Performance Products |  |  | 15,221 |  |  | 14,126
Total segments |  | $ | 189,720 |  | $ | 200,153
Depreciation and amortization |  |  |  |  |  |
Animal Health |  | $ | 6,384 |  | $ | 5,356
Mineral Nutrition |  |  | 613 |  |  | 597
Performance Products |  |  | 377 |  |  | 273
Total segments |  | $ | 7,374 |  | $ | 6,226
Adjusted EBITDA |  |  |  |  |  |
Animal Health |  | $ | 25,061 |  | $ | 35,716
Mineral Nutrition |  |  | 3,475 |  |  | 2,563
Performance Products |  |  | 852 |  |  | 716
Total segments |  | $ | 29,388 |  | $ | 38,995
Reconciliation of income before income taxes to Adjusted EBITDA |  |  |  |  |  |
Income before income taxes |  | $ | 3,572 |  | $ | 22,705
Interest expense, net |  |  | 3,354 |  |  | 2,783
Depreciation and amortization – Total segments |  |  | 7,374 |  |  | 6,226
Depreciation and amortization – Corporate |  |  | 407 |  |  | 465
Corporate costs |  |  | 9,728 |  |  | 8,886
Restructure costs |  |  | 425 |  |  | —
Stock-based compensation |  |  | 565 |  |  | 565
Acquisition-related cost of goods sold |  |  | 280 |  |  | —
Acquisition-related transaction costs |  |  | 462 |  |  | —
Foreign currency (gains) losses, net |  |  | 3,221 |  |  | (2,635)
Adjusted EBITDA – Total segments |  | $ | 29,388 |  | $ | 38,995
|  | September 30, |  | June 30,
As of |  | 2019 |  | 2019
Identifiable assets |  |  |  |  |  |
Animal Health |  | $ | 572,933 |  | $ | 508,864
Mineral Nutrition |  |  | 71,551 |  |  | 67,662
Performance Products |  |  | 33,323 |  |  | 32,886
Total segments |  |  | 677,807 |  |  | 609,412
Corporate |  |  | 117,432 |  |  | 117,259
Total |  | $ | 795,239 |  | $ | 726,671
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 $3,446 and $3,287 as of September 30, 2019 and June 30, 2019, respectively. The Performance Products segment includes an investment in an equity method investee of $852 and $759 as of September 30, 2019 and June 30, 2019, respectively. Corporate assets include cash and cash equivalents, short-term investments, debt issuance costs, income tax related assets and certain other assets.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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