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Business Segments | 9 Months Ended
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Mar. 31, 2024
Business Segments |
Business Segments | 11. 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. 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. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months |  | Nine Months
For the Periods Ended March 31 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Animal Health | ​ | $ | 181,333 | ​ | $ | 164,434 | ​ | $ | 514,967 | ​ | $ | 483,096
Mineral Nutrition | ​ |  | 64,228 | ​ |  | 62,922 | ​ |  | 181,601 | ​ |  | 184,212
Performance Products | ​ |  | 17,662 | ​ |  | 18,317 | ​ |  | 47,947 | ​ |  | 55,532
Total segments | ​ | $ | 263,223 | ​ | $ | 245,673 | ​ | $ | 744,515 | ​ | $ | 722,840
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Animal Health | ​ | $ | 7,695 | ​ | $ | 6,888 | ​ | $ | 22,392 | ​ | $ | 20,733
Mineral Nutrition | ​ |  | 601 | ​ |  | 671 | ​ |  | 1,907 | ​ |  | 1,985
Performance Products | ​ |  | 432 | ​ |  | 453 | ​ |  | 1,291 | ​ |  | 1,348
Total segments | ​ | $ | 8,728 | ​ | $ | 8,012 | ​ | $ | 25,590 | ​ | $ | 24,066
Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Animal Health | ​ | $ | 36,524 | ​ | $ | 34,217 | ​ | $ | 104,317 | ​ | $ | 98,240
Mineral Nutrition | ​ |  | 4,665 | ​ |  | 3,859 | ​ |  | 11,053 | ​ |  | 13,555
Performance Products | ​ |  | 2,371 | ​ |  | 2,413 | ​ |  | 4,597 | ​ |  | 7,069
Total segments | ​ | $ | 43,560 | ​ | $ | 40,489 | ​ | $ | 119,967 | ​ | $ | 118,864
Reconciliation of income before income taxes to Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before income taxes | ​ | $ | 12,922 | ​ | $ | 15,104 | ​ | $ | 4,508 | ​ | $ | 32,630
Interest expense, net | ​ |  | 4,575 | ​ |  | 3,871 | ​ |  | 13,798 | ​ |  | 10,822
Depreciation and amortization – Total segments | ​ |  | 8,728 | ​ |  | 8,012 | ​ |  | 25,590 | ​ |  | 24,066
Depreciation and amortization – Corporate | ​ |  | 468 | ​ |  | 477 | ​ |  | 1,387 | ​ |  | 1,372
Corporate costs | ​ | ​ | 13,856 | ​ | ​ | 13,122 | ​ | ​ | 42,160 | ​ | ​ | 38,451
Acquisition-related cost of goods sold | ​ | ​ | 211 | ​ | ​ | — | ​ | ​ | 521 | ​ | ​ | —
Acquisition-related other | ​ | ​ | 512 | ​ | ​ | — | ​ | ​ | 512 | ​ | ​ | —
Pension settlement cost | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 10,674 | ​ | ​ | —
Brazil employment taxes | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,202 | ​ | ​ | —
Insurance proceeds | ​ | ​ | (274) | ​ | ​ | — | ​ | ​ | (274) | ​ | ​ | —
Stock-based compensation | ​ | ​ | 135 | ​ | ​ | — | ​ | ​ | 296 | ​ | ​ | —
Environmental remediation costs | ​ | ​ | — | ​ | ​ | 325 | ​ | ​ | — | ​ | ​ | 6,894
Foreign currency losses (gains), net | ​ |  | 2,427 | ​ |  | (422) | ​ |  | 16,593 | ​ |  | 4,629
Adjusted EBITDA – Total segments | ​ | $ | 43,560 | ​ | $ | 40,489 | ​ | $ | 119,967 | ​ | $ | 118,864
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, |  | June 30,
As of |  | 2024 |  | 2023
Identifiable assets |  | ​ |  |  | ​ |
Animal Health | ​ | $ | 701,252 | ​ | $ | 698,522
Mineral Nutrition | ​ |  | 69,846 | ​ |  | 75,814
Performance Products | ​ |  | 49,275 | ​ |  | 49,678
Total segments | ​ |  | 820,373 | ​ |  | 824,014
Corporate | ​ |  | 158,662 | ​ |  | 147,383
Total | ​ | $ | 979,035 | ​ | $ | 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.

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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 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: 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 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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