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Business Segments | 12 Months Ended
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Jun. 30, 2023
Business Segments |
Business Segments | 16. 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 a segment or segments and we refer to these items as Corporate. We do not allocate Corporate costs or assets to the other segments because they are not used to evaluate the segments’ operating results or financial position. Corporate costs include certain costs related to executive management, information technology, legal, finance, human resources and business development. The accounting policies of our segments are the same as those described in the summary of significant accounting policies included herein. We evaluate performance of our segments based on Adjusted EBITDA. We calculate 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) losses, net and (e) certain items that we consider to be unusual, non-operational or non-recurring. ​
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For the Year Ended June 30 | ​ | 2023 | ​ | 2022 | ​ | 2021
Net sales |  | ​ |  |  | ​ |  |  | ​ |
Animal Health | ​ | $ | 659,851 | ​ | $ | 607,055 | ​ | $ | 545,716
Mineral Nutrition | ​ |  | 242,656 | ​ |  | 259,512 | ​ |  | 220,560
Performance Products | ​ |  | 75,382 | ​ |  | 75,694 | ​ |  | 67,074
Total segments | ​ | $ | 977,889 | ​ | $ | 942,261 | ​ | $ | 833,350
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Animal Health | ​ | $ | 27,714 | ​ | $ | 26,759 | ​ | $ | 25,839
Mineral Nutrition | ​ |  | 2,638 | ​ |  | 2,616 | ​ |  | 2,690
Performance Products | ​ |  | 1,780 | ​ |  | 1,717 | ​ |  | 1,702
Total segments | ​ | $ | 32,132 | ​ | $ | 31,092 | ​ | $ | 30,231
Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Animal Health | ​ | $ | 136,139 | ​ | $ | 124,106 | ​ | $ | 123,953
Mineral Nutrition | ​ |  | 17,417 | ​ |  | 24,038 | ​ |  | 17,116
Performance Products | ​ |  | 9,346 | ​ |  | 8,706 | ​ |  | 9,437
Total segments | ​ | $ | 162,902 | ​ | $ | 156,850 | ​ | $ | 150,506
Reconciliation of income before income taxes to Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before income taxes | ​ | $ | 54,071 | ​ | $ | 72,327 | ​ | $ | 66,468
Interest expense, net | ​ |  | 15,321 | ​ |  | 11,875 | ​ |  | 12,880
Depreciation and amortization – Total segments | ​ |  | 32,132 | ​ |  | 31,092 | ​ |  | 30,231
Depreciation and amortization – Corporate | ​ |  | 1,880 | ​ |  | 1,613 | ​ |  | 1,654
Corporate costs | ​ | ​ | 50,149 | ​ | ​ | 45,767 | ​ | ​ | 42,624
Environmental remediation costs | ​ | ​ | 6,894 | ​ | ​ | — | ​ | ​ | —
Gain on sale of investment | ​ | ​ | — | ​ | ​ | (1,203) | ​ | ​ | —
Acquisition-related cost of goods sold | ​ |  | — | ​ |  | 316 | ​ |  | —
Acquisition-related transaction costs | ​ |  | — | ​ |  | 279 | ​ |  | —
Stock-based compensation | ​ |  | — | ​ |  | — | ​ |  | 1,129
Foreign currency (gains) losses, net | ​ |  | 2,455 | ​ |  | (5,216) | ​ |  | (4,480)
Adjusted EBITDA – Total segments | ​ | $ | 162,902 | ​ | $ | 156,850 | ​ | $ | 150,506
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As of June 30 |  | 2023 |  | 2022
Identifiable assets |  | ​ |  |  | ​ |
Animal Health | ​ | $ | 698,522 | ​ | $ | 654,862
Mineral Nutrition | ​ |  | 75,814 | ​ |  | 87,379
Performance Products | ​ |  | 49,678 | ​ |  | 39,490
Total segments | ​ |  | 824,014 | ​ |  | 781,731
Corporate | ​ |  | 147,383 | ​ |  | 149,968
Total | ​ | $ | 971,397 | ​ | $ | 931,699
​ The Animal Health segment includes all goodwill of the Company. Corporate assets include cash and cash equivalents, short-term investments, debt issuance costs, income tax related assets and certain other assets. The geographic location of property, plant and equipment, net was: ​
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As of June 30 |  | 2023 |  | 2022
Property, plant and equipment, net |  | ​ |  |  | ​ |
United States | ​ | $ | 79,404 | ​ | $ | 57,605
Israel | ​ |  | 61,304 | ​ |  | 63,971
Brazil | ​ |  | 30,359 | ​ |  | 22,981
Ireland | ​ | ​ | 18,900 | ​ | ​ | 15,596
Other | ​ |  | 5,601 | ​ |  | 5,337
​ | ​ | $ | 195,568 | ​ | $ | 165,490

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