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Business Segments | 6 Months Ended
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Dec. 31, 2024
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 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 (loss) 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 |  | Six Months
For the Periods Ended December 31 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Animal Health | ​ | $ | 229,418 | ​ | $ | 173,104 | ​ | $ | 411,941 | ​ | $ | 333,634
Mineral Nutrition | ​ |  | 63,250 | ​ |  | 61,347 | ​ |  | 122,312 | ​ |  | 117,373
Performance Products | ​ |  | 16,593 | ​ |  | 15,492 | ​ |  | 35,440 | ​ |  | 30,285
Total segments | ​ | $ | 309,261 | ​ | $ | 249,943 | ​ | $ | 569,693 | ​ | $ | 481,292
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Animal Health | ​ | $ | 10,286 | ​ | $ | 7,348 | ​ | $ | 17,949 | ​ | $ | 14,697
Mineral Nutrition | ​ |  | 515 | ​ |  | 660 | ​ |  | 1,031 | ​ |  | 1,306
Performance Products | ​ |  | 292 | ​ |  | 433 | ​ |  | 625 | ​ |  | 859
Total segments | ​ | $ | 11,093 | ​ | $ | 8,441 | ​ | $ | 19,605 | ​ | $ | 16,862
Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Animal Health | ​ | $ | 58,177 | ​ | $ | 39,299 | ​ | $ | 98,561 | ​ | $ | 67,793
Mineral Nutrition | ​ |  | 5,702 | ​ |  | 3,507 | ​ |  | 9,464 | ​ |  | 6,388
Performance Products | ​ |  | 1,888 | ​ |  | 817 | ​ |  | 4,177 | ​ |  | 2,226
Total segments | ​ | $ | 65,767 | ​ | $ | 43,623 | ​ | $ | 112,202 | ​ | $ | 76,407
Reconciliation of income before income taxes to Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income (loss) before income taxes | ​ | $ | 4,838 | ​ | $ | 3,565 | ​ | $ | 14,458 | ​ | $ | (8,414)
Interest expense, net | ​ |  | 8,996 | ​ |  | 4,659 | ​ |  | 16,637 | ​ |  | 9,223
Depreciation and amortization – Total segments | ​ |  | 11,093 | ​ |  | 8,441 | ​ |  | 19,605 | ​ |  | 16,862
Depreciation and amortization – Corporate | ​ |  | 481 | ​ |  | 469 | ​ |  | 973 | ​ |  | 919
Corporate costs | ​ | ​ | 17,592 | ​ | ​ | 14,171 | ​ | ​ | 33,371 | ​ | ​ | 28,304
Acquisition-related cost of goods sold | ​ | ​ | 1,634 | ​ | ​ | 310 | ​ | ​ | 1,634 | ​ | ​ | 310
Acquisition-related other | ​ | ​ | 8,815 | ​ | ​ | — | ​ | ​ | 12,239 | ​ | ​ | —
Pension settlement cost | ​ | ​ | — | ​ | ​ | 249 | ​ | ​ | — | ​ | ​ | 10,674
Brazil employment taxes | ​ | ​ | — | ​ | ​ | 4,202 | ​ | ​ | — | ​ | ​ | 4,202
Insurance settlement gain | ​ | ​ | (1,257) | ​ | ​ | — | ​ | ​ | (1,257) | ​ | ​ | —
Stock-based compensation expense | ​ | ​ | 180 | ​ | ​ | 80 | ​ | ​ | 359 | ​ | ​ | 161
Phibro Forward income growth initiatives | ​ | ​ | 1,696 | ​ | ​ | — | ​ | ​ | 2,046 | ​ | ​ | —
Foreign currency losses, net | ​ |  | 11,699 | ​ |  | 7,477 | ​ |  | 12,137 | ​ |  | 14,166
Adjusted EBITDA – Total segments | ​ | $ | 65,767 | ​ | $ | 43,623 | ​ | $ | 112,202 | ​ | $ | 76,407
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, |  | June 30,
As of |  | 2024 |  | 2024
Identifiable assets |  | ​ |  |  | ​ |
Animal Health | ​ | $ | 1,011,145 | ​ | $ | 684,407
Mineral Nutrition | ​ |  | 76,950 | ​ |  | 67,088
Performance Products | ​ |  | 50,998 | ​ |  | 50,862
Total segments | ​ |  | 1,139,093 | ​ |  | 802,357
Corporate | ​ |  | 146,416 | ​ |  | 179,827
Total | ​ | $ | 1,285,509 | ​ | $ | 982,184
​ 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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