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Business Segments

12 Months Ended

Jun. 30, 2024

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 net income plus (a) interest expense, net, (b) provision for income taxes or less benefit for income taxes, (c) depreciation and amortization, (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.

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
For the Year Ended June 30	​	2024		​	2023		​	2022
Net sales		​			​			​
Animal Health	​	$	706,482	​	$	659,851	​	$	607,055
Mineral Nutrition	​		243,663	​		242,656	​		259,512
Performance Products	​		67,534	​		75,382	​		75,694
Total segments	​	$	1,017,679	​	$	977,889	​	$	942,261
​	​	​	​	​	​	​	​	​	​
Depreciation and amortization	​	​	​	​	​	​	​	​	​
Animal Health	​	$	30,194	​	$	27,714	​	$	26,759
Mineral Nutrition	​		2,427	​		2,638	​		2,616
Performance Products	​		1,688	​		1,780	​		1,717
Total segments	​	$	34,309	​	$	32,132	​	$	31,092
Adjusted EBITDA	​	​	​	​	​	​	​	​	​
Animal Health	​	$	145,606	​	$	136,139	​	$	124,106
Mineral Nutrition	​		16,449	​		17,417	​		24,038
Performance Products	​		7,662	​		9,346	​		8,706
Total segments	​	$	169,717	​	$	162,902	​	$	156,850
Reconciliation of income before income taxes to Adjusted EBITDA	​	​	​	​	​	​	​	​	​
Income before income taxes	​	$	10,916	​	$	54,071	​	$	72,327
Interest expense, net	​		18,536	​		15,321	​		11,875
Depreciation and amortization – Total segments	​		34,309	​		32,132	​		31,092
Depreciation and amortization – Corporate	​		1,869	​		1,880	​		1,613
Corporate costs	​	​	58,480	​	​	50,149	​	​	45,767
Acquisition-related cost of goods sold	​		521	​		—	​		316
Acquisition-related transaction costs	​		6,405	​		—	​		279
Pension settlement cost	​	​	10,674	​	​	—	​	​	—
Brazil employment taxes	​	​	4,202	​	​	—	​	​	—
Stock-based compensation	​		475	​		—	​		—
Phibro Forward income growth initiatives implementation costs	​	​	366	​	​	—	​	​	—
Insurance proceeds	​	​	(899)	​	​	—	​	​	—
Environmental remediation costs	​	​	—	​	​	6,894	​	​	—
Gain on sale of investment	​	​	—	​	​	—	​	​	(1,203)
Foreign currency (gains) losses, net	​		23,863	​		2,455	​		(5,216)
Adjusted EBITDA – Total segments	​	$	169,717	​	$	162,902	​	$	156,850

​

​	​	​	​	​	​	​
​	​	​		​	​
As of June 30		2024			2023
Identifiable assets		​			​
Animal Health	​	$	684,407	​	$	698,522
Mineral Nutrition	​		67,088	​		75,814
Performance Products	​		50,862	​		49,678
Total segments	​		802,357	​		824,014
Corporate	​		179,827	​		147,383
Total	​	$	982,184	​	$	971,397

​

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:

​

​	​	​	​	​	​	​
As of June 30		2024			2023
Property, plant and equipment, net		​			​
United States	​	$	87,526	​	$	79,404
Israel	​		60,395	​		61,304
Brazil	​		30,348	​		30,359
Ireland	​	​	19,038	​	​	18,900
Other	​		5,993	​		5,601
​	​	$	203,300	​	$	195,568

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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.

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