Segment Reporting and Geographic Information (Tables)
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6 Months Ended |
Dec. 31, 2019 |
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| Segment Reporting [Abstract] |
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| Summary Of Results for Reportable Segments |
The following is a summary of results for each of our four reportable segments for the indicated periods:
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Three Months Ended
December 31, |
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Six Months Ended
December 31, |
(In thousands) |
2019 |
|
2018 |
|
2019 |
|
2018 |
Semiconductor Process Control: |
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Revenue |
$ |
1,247,430 |
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|
$ |
1,094,013 |
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|
$ |
2,411,062 |
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|
$ |
2,163,972 |
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Segment gross margin |
795,730 |
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|
702,119 |
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|
1,538,072 |
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|
1,404,350 |
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Specialty Semiconductor Process: |
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Revenue |
75,106 |
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— |
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|
144,245 |
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— |
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Segment gross margin |
41,333 |
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— |
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|
79,497 |
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— |
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PCB, Display and Component Inspection: |
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Revenue |
186,279 |
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|
26,110 |
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|
364,831 |
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|
49,725 |
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Segment gross margin |
82,538 |
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|
10,555 |
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|
158,606 |
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|
21,088 |
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Other: |
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Revenue |
517 |
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— |
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|
2,748 |
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— |
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Segment gross margin |
117 |
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— |
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|
770 |
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— |
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Totals: |
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Revenue |
$ |
1,509,332 |
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$ |
1,120,123 |
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$ |
2,922,886 |
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$ |
2,213,697 |
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Segment gross margin |
$ |
919,718 |
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$ |
712,674 |
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$ |
1,776,945 |
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$ |
1,425,438 |
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| Reconciliation of Total Reportable Segments Revenue to Total Revenue |
The following table reconciles total reportable segment revenue to total revenue for the indicated periods:
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Three Months Ended
December 31, |
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Six Months Ended
December 31, |
(In thousands) |
2019 |
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2018 |
|
2019 |
|
2018 |
Total revenue for reportable segments |
$ |
1,509,332 |
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|
$ |
1,120,123 |
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|
$ |
2,922,886 |
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|
$ |
2,213,697 |
|
Corporate allocations and effects of foreign exchange rates |
121 |
|
|
(225 |
) |
|
(19 |
) |
|
(539 |
) |
Total revenue |
$ |
1,509,453 |
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|
$ |
1,119,898 |
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|
$ |
2,922,867 |
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$ |
2,213,158 |
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| Reconciliation of Total Segment Gross Margin to Total Income Before Income Taxes |
The following table reconciles total segment gross margin to total income before income taxes for the indicated periods:
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Three Months Ended
December 31, |
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Six Months Ended
December 31, |
(In thousands) |
2019 |
|
2018 |
|
2019 |
|
2018 |
Total segment gross margin |
$ |
919,718 |
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$ |
712,674 |
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$ |
1,776,945 |
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$ |
1,425,438 |
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Acquisition-related charges, corporate allocations, and effects of foreign exchange rates(1)
|
43,883 |
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|
1,036 |
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|
91,937 |
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|
1,927 |
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Research and development |
220,751 |
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|
165,903 |
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|
431,331 |
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|
319,433 |
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Selling, general and administrative |
192,253 |
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|
112,462 |
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|
380,598 |
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|
226,900 |
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Interest expense |
40,472 |
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|
26,538 |
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|
80,822 |
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|
52,900 |
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Other expense (income), net |
(2,568 |
) |
|
(9,228 |
) |
|
(4,186 |
) |
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(19,253 |
) |
Income before income taxes |
$ |
424,927 |
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$ |
415,963 |
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$ |
796,443 |
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$ |
843,531 |
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__________________
(1)
Acquisition-related charges primarily include amortization of intangible assets, amortization of inventory fair value adjustments, and other acquisition-related costs classified or presented as part of costs of revenues.
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| Revenues by Geographic Region |
The following is a summary of revenues by geographic region, based on ship-to location, for the indicated periods:
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(Dollar amounts in thousands) |
Three Months Ended December 31, |
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Six Months Ended December 31, |
2019 |
|
2018 |
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2019 |
|
2018 |
Revenues: |
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Taiwan |
$ |
447,083 |
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|
30 |
% |
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$ |
266,534 |
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|
24 |
% |
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$ |
833,812 |
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|
28 |
% |
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$ |
520,971 |
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|
24 |
% |
China |
381,752 |
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|
25 |
% |
|
269,878 |
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|
24 |
% |
|
727,608 |
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|
25 |
% |
|
610,012 |
|
|
28 |
% |
Japan |
194,804 |
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|
13 |
% |
|
180,283 |
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|
16 |
% |
|
401,015 |
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|
14 |
% |
|
315,861 |
|
|
14 |
% |
Korea |
181,948 |
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|
12 |
% |
|
126,968 |
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|
11 |
% |
|
379,398 |
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|
13 |
% |
|
280,469 |
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|
13 |
% |
North America |
158,517 |
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11 |
% |
|
150,113 |
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|
13 |
% |
|
340,500 |
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|
12 |
% |
|
252,242 |
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|
11 |
% |
Europe and Israel |
97,466 |
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6 |
% |
|
80,618 |
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|
7 |
% |
|
156,849 |
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|
5 |
% |
|
152,287 |
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|
7 |
% |
Rest of Asia |
47,883 |
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3 |
% |
|
45,504 |
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5 |
% |
|
83,685 |
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3 |
% |
|
81,316 |
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|
3 |
% |
Total |
$ |
1,509,453 |
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|
100 |
% |
|
$ |
1,119,898 |
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|
100 |
% |
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$ |
2,922,867 |
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|
100 |
% |
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$ |
2,213,158 |
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|
100 |
% |
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| Revenues by Major Products |
The following is a summary of revenues by major products for the indicated periods:
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(Dollar amounts in thousands) |
Three Months Ended December 31, |
|
Six Months Ended December 31, |
2019 |
|
2018 |
|
2019 |
|
2018 |
Revenues: |
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Wafer Inspection |
$ |
606,131 |
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|
40 |
% |
|
$ |
478,553 |
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|
43 |
% |
|
$ |
1,054,405 |
|
|
36 |
% |
|
$ |
925,845 |
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|
42 |
% |
Patterning |
289,078 |
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|
19 |
% |
|
284,496 |
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|
25 |
% |
|
671,736 |
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|
23 |
% |
|
588,497 |
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|
26 |
% |
Specialty Semiconductor Process |
60,941 |
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|
4 |
% |
|
— |
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|
— |
% |
|
117,811 |
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|
4 |
% |
|
— |
|
|
— |
% |
PCB, Display and Component Inspection |
129,235 |
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|
9 |
% |
|
22,996 |
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|
2 |
% |
|
249,595 |
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|
9 |
% |
|
43,831 |
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|
2 |
% |
Services |
364,903 |
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|
24 |
% |
|
267,697 |
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|
24 |
% |
|
720,342 |
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24 |
% |
|
531,730 |
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24 |
% |
Other |
59,165 |
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|
4 |
% |
|
66,156 |
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|
6 |
% |
|
108,978 |
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|
4 |
% |
|
123,255 |
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|
6 |
% |
Total |
$ |
1,509,453 |
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|
100 |
% |
|
$ |
1,119,898 |
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|
100 |
% |
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$ |
2,922,867 |
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|
100 |
% |
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$ |
2,213,158 |
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|
100 |
% |
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| Long-Lived Assets by Geographic Region |
Land, property and equipment, net by geographic region as of the dates indicated below were as follows:
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(In thousands) |
As of
December 31, 2019 |
|
As of
June 30, 2019 |
Land, property and equipment, net: |
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United States |
$ |
297,938 |
|
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$ |
253,255 |
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Singapore |
53,510 |
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|
49,523 |
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Israel |
59,943 |
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|
66,082 |
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Europe |
59,843 |
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|
62,027 |
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Rest of Asia |
18,746 |
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|
17,912 |
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Total |
$ |
489,980 |
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$ |
448,799 |
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