Coherent (COHR) 10-K29 Aug 222022 FY Annual reportFinancial data

Company Profile

Cover

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Jun. 30, 2022	Aug. 24, 2022	Dec. 31, 2021
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2022
Current Fiscal Year End Date	--06-30
Document Transition Report	false
Entity File Number	001-39375
Entity Registrant Name	II-VI INCORPORATED
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-1214948
Entity Address, Address Line One	375 Saxonburg Blvd.
Entity Address, City or Town	Saxonburg
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	16056
City Area Code	724
Local Phone Number	352-4455
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 7,194,944,557
Entity Common Stock, Shares Outstanding		130,874,428
Entity Central Index Key	0000820318
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement, which will be issued in connection with the 2022 Annual Meeting of Shareholders of II-VI Incorporated, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Common Stock, no par
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	IIVI
Security Exchange Name	NASDAQ
Series A Mandatory Convertible Preferred Stock, no par value
Entity Information [Line Items]
Title of 12(b) Security	Series A Mandatory Convertible Preferred Stock, no par value
Trading Symbol	IIVIP
Security Exchange Name	NASDAQ

Audit Information

Audit Information	12 Months Ended
Audit Information	Jun. 30, 2022
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Pittsburgh, Pennsylvania
Auditor Firm ID	42

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Current Assets
Cash, cash equivalents and restricted cash	$ 2,582,371	$ 1,591,892
Accounts receivable - less allowance for doubtful accounts of $4,206 at June 30, 2022 and $924 at June 30, 2021	700,331	658,962
Inventories	902,559	695,828
Prepaid and refundable income taxes	19,585	13,095
Prepaid and other current assets	100,346	67,617
Total Current Assets	4,305,192	3,027,394
Property, plant & equipment, net	1,363,195	1,242,906
Goodwill	1,285,759	1,296,727
Other intangible assets, net	635,404	718,460
Deferred income taxes	31,714	33,498
Other assets	223,582	193,665
Total Assets	7,844,846	6,512,650
Current Liabilities
Current portion of long-term debt	403,212	62,050
Accounts payable	434,917	294,486
Accrued compensation and benefits	172,109	181,491
Operating lease current liabilities	27,574	25,358
Accrued income taxes payable	29,317	20,295
Other accrued liabilities	199,830	145,909
Total Current Liabilities	1,266,959	729,589
Long-term debt	1,897,214	1,313,091
Deferred income taxes	77,259	73,962
Operating lease liabilities	110,214	125,541
Other liabilities	109,922	138,119
Total Liabilities	3,461,568	2,380,302
Shareholders' Equity
Common stock	2,064,552	2,028,273
Accumulated other comprehensive income (loss)	(2,167)	14,267
Retained earnings	1,348,125	1,136,777
Shareholders' equity excluding treasury stock	3,855,829	3,624,636
Treasury stock	(239,354)	(218,466)
Total Shareholders' Equity	3,616,475	3,406,170
Total Liabilities, Mezzanine Equity and Shareholders' Equity	7,844,846	6,512,650
Series B Redeemable Preferred Stock
Mezzanine Equity
#REF!	766,803	726,178
Series A Preferred Stock
Shareholders' Equity
Preferred stock, value	$ 445,319	$ 445,319

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	12 Months Ended
Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Accounts receivable, allowance for doubtful accounts	$ 4,206,000	$ 924,000
Common stock, par value (in usd per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	120,923,171	119,126,585
Treasury stock (in shares)	13,972,758	13,640,555
Series B Redeemable Preferred Stock
Redeemable convertible preferred stock, par value (in usd per share)	$ 0	$ 0
Redeemable convertible preferred stock, cumulative percentage	5%	5%
Redeemable convertible preferred stock, shares issued (in shares)	75,000	75,000
Redeemable convertible preferred stock, redemption value	$ 798,181	$ 759,583
Series A Preferred Stock
Preferred stock, par value (in usd per share)	$ 0	$ 0
Preferred stock, dividend rate, percentage	6%	6%
Preferred stock, shares issued (in shares)	2,300,000	2,300,000

Consolidated Statements of Earn

Consolidated Statements of Earnings (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenues	$ 3,316,616	$ 3,105,891	$ 2,380,071
Costs, Expenses and Other Expense (Income)
Cost of goods sold	2,051,120	1,928,432	1,588,890
Internal research and development	377,106	330,105	339,073
Selling, general and administrative	474,096	445,235	412,629
Interest expense	121,254	59,899	89,409
Other expense (income), net	11,233	(10,370)	13,998
Total Costs, Expenses and Other Expense (Income)	3,034,809	2,753,301	2,443,999
Earnings (loss) before income taxes	281,807	352,590	(63,928)
Income taxes	47,048	55,038	3,101
Net Earnings (Loss)	234,759	297,552	(67,029)
Less: Dividends on Preferred Stock	68,225	37,231	0
Net Earnings (Loss) available to the Common Shareholder	$ 166,534	$ 260,321	$ (67,029)
Basic Earnings (Loss) Per Share (in usd per share)	$ 1.57	$ 2.50	$ (0.79)
Diluted Earnings (Loss) Per Share (in usd per share)	$ 1.45	$ 2.37	$ (0.79)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Net earnings (loss)	$ 234,759	$ 297,552	$ (67,029)
Other comprehensive income (loss):
Foreign currency translation adjustments	(89,967)	86,991	(15,969)
Pension adjustment, net of taxes	15,719	2,347	(3,108)
Other comprehensive income (loss)	(16,434)	101,650	(63,162)
Comprehensive income (loss)	218,325	399,202	(130,191)
Interest Rate Swap
Other comprehensive income (loss):
Change in fair value of interest rate swap, net of taxes of $11,901, $3,372, and $0 for the years ended June 30, 2022, 2021, and 2020, respectively	43,508	12,312	(44,085)
Interest Rate Cap
Other comprehensive income (loss):
Change in fair value of interest rate swap, net of taxes of $11,901, $3,372, and $0 for the years ended June 30, 2022, 2021, and 2020, respectively	$ 14,306	$ 0	$ 0

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Pension adjustment, taxes	$ 3,856	$ 576	$ (851)
Interest Rate Swap
Change in fair value of interest rate swap/cap, taxes	11,901	$ 3,372	$ 0
Interest Rate Cap
Change in fair value of interest rate swap/cap, taxes	$ 3,818

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity and Mezzanine Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Interest Rate Swap	Interest Rate Cap	Preferred Shares	Common Stock	Common Stock Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Interest Rate Swap	Accumulated Other Comprehensive Income (Loss) Interest Rate Cap	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, Preferred Stock (in shares)								0
Beginning balance, Common Stock (in shares) at Jun. 30, 2019						76,315,000
Beginning balance, Treasury Stock (in shares) at Jun. 30, 2019														(12,604,000)
Beginning Balance at Jun. 30, 2019	$ 1,133,209					$ 382,423		$ 0	$ (24,221)			$ 943,581		$ (168,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based and deferred compensation activities (in shares)						2,888,000								702,000
Share-based and deferred compensation activities	(87,703)					$ (116,817)								$ 29,114
Purchases of treasury stock (in shares)														(50,000)
Purchases of treasury stock	(1,625)													$ (1,625)
Shares issued related to Finisar acquisition (in shares)						26,713,000
Shares issued related to Finisar acquisition	987,707					$ 987,707
Net earnings (loss)	(67,029)											(67,029)
Foreign currency translation adjustments	(15,969)								(15,969)
Change in fair value of interest rate swap/cap, net of taxes			$ (44,085)	$ 0						$ (44,085)
Pension adjustment, net of taxes	(3,108)								(3,108)
Ending balance, Common Stock, (in shares) at Jun. 30, 2020						105,916,000
Ending balance, Preferred Stock (in shares) at Jun. 30, 2020								0
Ending balance, Treasury Stock (in shares) at Jun. 30, 2020														(13,356,000)
Ending Balance at Jun. 30, 2020	2,076,803					$ 1,486,947		$ 0	(87,383)			876,552		$ (199,313)
Ending balance (in shares) at Jun. 30, 2020					0
Ending balance at Jun. 30, 2020					$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, Preferred Stock (in shares)								0
Mezzanine Equity
Beginning balance (in shares)					0
Share-based and deferred compensation activities (in shares)						2,512,000								284,000
Share-based and deferred compensation activities	$ (83,584)					$ (102,737)								$ 19,153
Purchases of treasury stock (in shares)	0
Net earnings (loss)	$ 297,552											297,552
Stock issues in underwritten public offering (in shares)						10,698,000		2,300,000
Shares issued in underwritten public offering	883,908					$ 438,589		$ 445,319
Accretion to redemption value of Series B shares issued in March 2021	(508)											(508)
Foreign currency translation adjustments	86,991								86,991
Change in fair value of interest rate swap/cap, net of taxes			12,312	0						12,312
Pension adjustment, net of taxes	2,347								2,347
Dividends and deemed dividends	(36,819)											(36,819)
Ending balance, Common Stock, (in shares) at Jun. 30, 2021						119,127,000
Ending balance, Preferred Stock (in shares) at Jun. 30, 2021								2,300,000
Ending balance, Treasury Stock (in shares) at Jun. 30, 2021														(13,640,000)
Ending Balance at Jun. 30, 2021	3,406,170	$ (11,472)				$ 2,028,273	$ (56,388)	$ 445,319	14,267			1,136,777	$ 44,916	$ (218,466)
Mezzanine Equity
Series B shares issued in March 2021 (in shares)					75,000
Series B shares issued in March 2021					$ 716,087
Accretion to redemption value of Series B shares issued in March 2021					508
Dividends and deemed dividends					$ 9,583
Ending balance (in shares) at Jun. 30, 2021					75,000
Ending balance at Jun. 30, 2021					$ 726,178
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, Preferred Stock (in shares)								2,300,000
Mezzanine Equity
Beginning balance (in shares)					75,000
Share-based and deferred compensation activities (in shares)						1,796,000								333,000
Share-based and deferred compensation activities	$ (71,779)					$ (92,667)								$ 20,888
Purchases of treasury stock (in shares)	0
Net earnings (loss)	$ 234,759											234,759
Foreign currency translation adjustments	(89,967)								(89,967)
Change in fair value of interest rate swap/cap, net of taxes			$ 43,508	$ 14,306						$ 43,508	$ 14,306
Pension adjustment, net of taxes	15,719								15,719
Dividends and deemed dividends	(68,327)											(68,327)
Ending balance, Common Stock, (in shares) at Jun. 30, 2022						120,923,000
Ending balance, Preferred Stock (in shares) at Jun. 30, 2022								2,300,000
Ending balance, Treasury Stock (in shares) at Jun. 30, 2022														(13,973,000)
Ending Balance at Jun. 30, 2022	$ 3,616,475					$ 2,064,552		$ 445,319	$ (2,167)			$ 1,348,125		$ (239,354)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06 [Member]
Mezzanine Equity
Dividends and deemed dividends					$ 40,625
Ending balance (in shares) at Jun. 30, 2022					75,000
Ending balance at Jun. 30, 2022					$ 766,803
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, Preferred Stock (in shares)								2,300,000
Mezzanine Equity
Beginning balance (in shares)					75,000

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity and Mezzanine Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Pension adjustment, taxes	$ 3,856	$ 576	$ (851)
Interest Rate Swap
Change in fair value of interest rate swap/cap, taxes	11,901	$ 3,372	$ 0
Interest Rate Cap
Change in fair value of interest rate swap/cap, taxes	$ 3,818

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities
Net Earnings (Loss)	$ 234,759	$ 297,552	$ (67,029)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation	207,132	187,803	156,690
Amortization	79,647	82,266	64,192
Share-based compensation expense	73,214	70,953	68,480
Amortization of discount on convertible debt and debt issuance costs	18,807	20,732	22,150
Debt extinguishment expense	0	24,747	3,960
Losses (gains) on disposals of property, plant and equipment	617	2,537	(1,461)
Unrealized losses on foreign currency remeasurements and transactions	1,167	5,545	14,442
Earnings from equity investments	(2,190)	(14,246)	(2,775)
Deferred income taxes	(8,154)	(371)	(42,454)
Impairment of investment	0	0	4,980
Increase (decrease) in cash from changes in (net of effects of acquisitions):
Accounts receivable	(55,193)	(51,697)	(91,981)
Inventories	(230,882)	(44,645)	112,572
Accounts payable	97,053	2,266	45,026
Income taxes	17,961	(18,086)	40,061
Accrued compensation and benefits	(9,382)	23,934	0
Other operating net assets (liabilities)	(11,224)	(14,937)	(29,561)
Net cash provided by operating activities	413,332	574,353	297,292
Cash Flows from Investing Activities
Additions to property, plant & equipment	(314,332)	(146,337)	(136,877)
Purchases of businesses, net of cash acquired	0	(34,394)	(1,036,609)
Other investing activities	(5,750)	7,774	(5,804)
Net cash used in investing activities	(320,082)	(172,957)	(1,179,290)
Cash Flows from Financing Activities
Proceeds from issuance of Senior Notes	990,000	0	0
Proceeds from issuance of common shares	0	460,000	0
Payment of Finisar Notes	(14,888)	0	(560,112)
Payments on borrowings under prior Term Loan, Credit Facility, and other loans	0	0	(176,618)
Payments on borrowings under Revolving Credit Facility	0	(74,000)	(86,000)
Debt issuance costs	(10,197)	0	(63,510)
Equity issuance costs	0	(58,596)	0
Proceeds from exercises of stock options and purchases of stock under employee stock purchase plan	17,858	32,360	13,467
Common stock repurchases	0	0	(1,625)
Payments in satisfaction of employees' minimum tax obligations	(21,249)	(19,701)	(28,700)
Payment of dividends	(34,508)	(20,319)	0
Other financing activities	(2,013)	(2,367)	(2,339)
Net cash provided by financing activities	862,953	675,727	1,173,625
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	34,276	21,723	(3,453)
Net increase in cash and cash equivalents, and restricted cash	990,479	1,098,846	288,174
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	1,591,892	493,046	204,872
Cash, Cash Equivalents, and Restricted Cash at End of Period	2,582,371	1,591,892	493,046
Cash paid for interest	57,314	37,266	62,190
Cash paid for income taxes	50,000	60,393	39,521
Non cash transactions:
Additions to property, plant & equipment included in accounts payable	84,890	32,028	21,801
Revolving Credit Facility
Cash Flows from Financing Activities
Proceeds from borrowings under Credit Facility	0	0	160,000
Prior Credit Facility
Cash Flows from Financing Activities
Proceeds from borrowings under Credit Facility	0	0	10,000
Term A Facility
Cash Flows from Financing Activities
Proceeds from borrowings of Term Facility	0	0	1,241,000
Payments on borrowings under Term Facility	(62,050)	(137,050)	(46,538)
Term B Facility
Cash Flows from Financing Activities
Proceeds from borrowings of Term Facility	0	0	720,000
Payments on borrowings under Term Facility	0	(714,600)	(5,400)
Series A Preferred Stock
Cash Flows from Financing Activities
Proceeds from issuance of preferred shares	0	460,000	0
Series B Preferred Stock
Cash Flows from Financing Activities
Proceeds from issuance of preferred shares	$ 0	$ 750,000	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical)	Jun. 30, 2022
0.25% Convertible Senior Note Due 2022
Debt instrument, interest rate	0.25%

Nature of Business and Summary

Nature of Business and Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Nature of Business and Summary of Significant Accounting Policies	Nature of Business and Summary of Significant Accounting Policies Nature of Business. II-VI Incorporated (“II-VI,” the “Company,” “we,” “us” or “our”), a global leader in engineered materials and optoelectronic components and devices, is a vertically-integrated manufacturing company that develops, manufactures and markets engineered materials and optoelectronic components and devices for precision use in industrial materials processing, optical communications, aerospace and defense, consumer electronics, semiconductor capital equipment, life sciences and automotive applications. The Company markets its products through its direct sales force and through distributors and agents. The Company uses certain uncommon materials and compounds to manufacture its products. Some of these materials are available from only one proven outside source. The continued high quality of these materials is critical to the stability of the Company’s manufacturing yields. The Company has not experienced material production delays due to a shortage of materials. However, the Company does occasionally experience problems associated with vendor-supplied materials not meeting specifications for quality or purity. A significant failure of the Company’s suppliers to deliver sufficient quantities of necessary high-quality materials on a timely basis could have a material adverse effect on the Company’s results of operations. The Company is closely monitoring the ongoing impact of the COVID-19 pandemic and related factors on all aspects of our business, including the impact to our employees, suppliers and customers, as well as the impact to the countries and markets in which II-VI operates. In particular, the Company is continuing to focus intensely on mitigating any resulting adverse impacts on our foreign and domestic operations, starting by prioritizing the safety of our employees, suppliers and customers. Principles of Consolidation. The Consolidated Financial Statements include the accounts of the Company. All intercompany transactions and balances have been eliminated. Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Foreign Currency Translation. For all foreign subsidiaries whose functional currency is not the U.S. dollar, the functional currency is the local currency. Assets and liabilities of those operations are translated into U.S. dollars using period-end exchange rates while income and expenses are translated using the average exchange rates for the reporting period. Translation adjustments are recorded as accumulated other comprehensive income (loss) within shareholders’ equity in the accompanying Consolidated Balance Sheets. Cash, Cash Equivalents and Restricted Cash. The Company considers highly liquid investment instruments with an original maturity of three months or less to be cash equivalents. Accounts Receivable. The Company makes estimates evaluating its allowance for doubtful accounts. The Company continuously monitors collections and payments from its customers and maintains a provision for estimated credit losses based upon its historical experience, current market conditions and any specific customer collection issues that it has identified. Inventories. Inventories are valued at the lower of cost or net realizable value, with cost determined on the first-in, first-out basis. Inventory costs include material, labor and manufacturing overhead. In evaluating the net realizable value of inventory, management also considers, if applicable, other factors, including known trends, market conditions, currency exchange rates and other such issues. The Company generally records a reduction to the carrying value of inventory as a charge against earnings for all products on hand more than 12 to 24 months, depending on the nature of the products that have not been sold to customers or cannot be further manufactured for sale to alternative customers. An additional charge may be recorded for product on hand that is in excess of product sold to customers over the same periods noted above. Property, Plant and Equipment. Property, plant and equipment are carried at cost or fair value upon acquisition. Major improvements are capitalized, while maintenance and repairs are generally expensed as incurred. The Company reviews its property, plant and equipment and other long-lived assets for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable. Depreciation on property, plant and equipment and amortization on finance lease right-of-use assets for financial reporting purposes is computed primarily by the straight-line method over the estimated useful lives for building, building improvements and land improvements of 10 to 20 years and 3 to 20 years for machinery and equipment. Leases. Leases are recognized under Accounting Standards Codification 842, Leases. The Company determines whether a contract contains a lease at contract inception. A contract contains a lease if there is an identified asset and the Company has the right to control the asset. Operating lease right-of-use (“ROU”) assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses the incremental borrowing rate in determining the present value of lease payments, unless the implicit rate is readily determinable. If lease terms include options to extend or terminate the lease, the ROU asset and lease liability are measured based on the reasonably certain decision. The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all classes of leased assets for which the Company is the lessee. Additionally, for certain equipment leases, the portfolio approach is applied to account for the operating lease ROU assets and lease liabilities. In the Consolidated Statements of Earnings (Loss), lease expense for operating lease payments is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. Some leasing arrangements require variable payments that are dependent upon usage or output, or may vary for other reasons, such as insurance or tax payments. Variable lease payments are recognized as incurred and are not presented as part of the ROU asset or lease liability. See Note 12. Leases for additional information. Business Combinations. The Company accounts for business combinations by establishing the acquisition-date fair value as the measurement for all assets acquired and liabilities assumed. Certain provisions of U.S. GAAP prescribe, among other things, the determination of acquisition-date fair value of consideration paid in a business combination (including contingent consideration) and the exclusion of transaction and acquisition-related restructuring costs from acquisition accounting. Goodwill. The excess purchase price over the fair value allocated to identifiable tangible and intangible net assets of businesses acquired is reported as goodwill in the accompanying Consolidated Balance Sheets. The Company tests goodwill for impairment at least annually as of April 1, or when events or changes in circumstances indicate that goodwill might be impaired. The evaluation of impairment involves comparing the current fair value of the Company’s reporting units to the recorded value (including goodwill). The Company uses a discounted cash flow (“DCF”) model and/or a market analysis to determine the fair value of its reporting units. A number of assumptions and estimates are involved in estimating the forecasted cash flows used in the DCF model, including markets and market shares, sales volume and pricing, costs to produce, working capital changes and income tax rates. Management considers historical experience and all available information at the time the fair values of the reporting units are estimated. Goodwill impairment is measured as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The Company has the option to perform a qualitative assessment of goodwill prior to completing the quantitative assessment described above to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill and other intangible assets. If the Company concludes that this is the case, it must perform the quantitative assessment. Otherwise, the Company will forego the quantitative assessment and does not need to perform any further testing. As of April 1 of fiscal years 2022 and 2021, the Company completed its annual impairment tests of its reporting units using the quantitative assessment. Based on the results of these analyses the Company’s goodwill was not impaired; the fair value is well in excess of the carrying value for each reporting unit. Intangibles. Intangible assets are initially recorded at their cost or fair value upon acquisition. Finite-lived intangible assets are amortized for financial reporting purposes using the straight-line method over the estimated useful lives of the assets ranging from 3 to 20 years. Indefinite-lived intangible assets are not amortized but tested annually for impairment at April 1, or when events or changes in circumstances indicate that indefinite-lived intangible assets might be impaired. We previously classified intangible asset amortization expense within SG&A expenses in our Consolidated Statements of Earnings (Loss). Amortization expense on the developed technology intangible assets is now classified within Cost of goods sold, with amortization expense on customer lists and trade names remaining within SG&A expenses in our Consolidated Statements of Earnings (Loss). Prior period amounts have been conformed to the current period presentation, which resulted in an increase to Cost of goods sold and a decrease to SG&A expenses of $39 million and $28 million for the years ended June 30, 2021 and June 30, 2020, respectively. Investments in Other Entities. In the normal course of business, the Company enters into various types of investment arrangements, each having unique terms and conditions. These investments may include equity interests held by the Company in business entities, including general or limited partnerships, contractual ventures, or other forms of equity participation. The Company determines whether such investments involve a variable interest entity (“VIE”) based on the characteristics of the subject entity. If the entity is determined to be a VIE, then management determines if the Company is the primary beneficiary of the entity and whether or not consolidation of the VIE is required. The primary beneficiary consolidating the VIE must normally have both (i) the power to direct the activities of a VIE that most significantly affect the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE, in either case that could potentially be significant to the VIE. When the Company is deemed to be the primary beneficiary, the VIE is consolidated and the other party’s equity interest in the VIE is accounted for as a noncontrolling interest. The Company generally accounts for investments it makes in VIEs in which it has determined that it does not have a controlling financial interest but has significant influence over or holds at least a 20% ownership interest using the equity method. Any such investment not meeting the parameters to be accounted under the equity method would be accounted for under ASC 321, Investments - Equity Securities. If an entity fails to meet the characteristics of a VIE, management then evaluates such entity under the voting model. Under the voting model, management consolidates the entity if they determine that the Company, directly or indirectly, has greater than 50% of the voting shares and determines that other equity holders do not have substantive participating rights. Series A Mandatory Convertible Preferred Stock . The II-VI Series A Mandatory Convertible Preferred Stock is initially measured at fair value, less underwriting discounts and commissions and offering expenses paid by the Company. The Preferred Stock’s dividends are cumulative, at 6% per annum. Series B Convertible Preferred Stock. The II-VI Series B-1 Convertible Preferred Stock is initially measured at fair value less issuance costs, accreted to its redemption value over a ten-year period (using the effective interest method) with such accretion accounted for as deemed dividends and reductions to Net Earnings (Loss) Available to the Common Shareholder. Commitments and Contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. Such accruals are adjusted as further information develops or circumstances change. Our customers may discover defects in our products after the products have been fully deployed and operated under peak stress conditions. If we are unable to correct defects or other problems, we could experience, among other things, loss of customers, increased costs of product returns and warranty expenses, damage to our brand reputation, failure to attract new customers or achieve market acceptance, diversion of development and engineering resources, or legal action by our customers. The Company had no material loss contingency liabilities at June 30, 2022 related to commitments and contingencies. Income Taxes. Deferred income tax assets and liabilities are determined based on the differences between the Consolidated Financial Statements and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount more likely than not to be realized. The Company’s accounting policy is to apply acquired deferred tax liabilities to pre-existing deferred tax assets before evaluating the need for a valuation allowance for acquired deferred tax assets. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The amount of unrecognized tax benefits is adjusted for changes in facts and circumstances. For example, adjustments could result from significant amendments to existing tax law and the issuance of regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination. The Company believes that its estimates for uncertain tax positions are appropriate and sufficient to pay assessments that may result from examinations of its tax returns. The Company recognizes both accrued interest and penalties related to unrecognized tax benefits in income tax expense. Revenue Recognition. Revenue is recognized under Accounting Standards Codification 606, Revenue from Contracts with Customers (ASC 606), when or as obligations under the terms of a contract with the Company’s customer have been satisfied and control has transferred to the customer. The Company has elected the practical expedient to exclude all taxes from the measurement of the transaction price. For contracts with commercial customers, which comprise the majority of the Company’s performance obligations, ownership of the goods and associated revenue are transferred to customers at a point in time, generally upon shipment of a product to the customer or receipt of the product by the customer and without significant judgments. The majority of contracts typically require payment within 30 to 90 days after transfer of ownership to the customer. Contracts with the U.S. government through its prime contractors are typically for products or services with no alternative future use to the Company with an enforceable right to payment for performance completed to date, whereas commercial contracts typically have alternative use. Customized products with no alternative future use to the Company with an enforceable right to payment for performance completed to date are recorded over time utilizing the output method of units delivered. The Company considers this to be a faithful depiction of the transfer to the customer of revenue over time due to short cycle time and immaterial work-in-process balances. The majority of contracts typically require payment within 30 to 90 days after transfer of ownership to the customer. Service revenue includes repairs, non-recurring engineering, tolling arrangements and installation. Repairs, tolling and installation activities are usually completed in a short period of time (normally less than one month) and therefore recorded at a point in time when the services are completed. Non-recurring engineering arrangements are typically recognized over time under the time and material practical expedient, as the entity has a right to consideration from a customer, in an amount that corresponds directly with the value to the customer of the entity’s performance completed to date. The majority of contracts typically require payment within 90 days. The Company's revenue recognition policy is consistently applied across the Company's segments, product lines, services, and geographical locations. For the periods covered herein, the Company measures revenue based on the amount of consideration it expects to be entitled to in exchange for products or services, reduced by the amount of variable consideration related to products expected to be returned. The Company determines variable consideration, which primarily consists of product returns and distributor sales price reductions resulting from price protection agreements, by estimating the impact of such reductions based on historical analysis of such activity. Under ASC 606, the Company expenses sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within selling, general and administrative expenses. The Company has elected to recognize the costs for freight and shipping when control over products has transferred to the customer as an expense in cost of goods sold. The Company monitors and tracks the amount of product returns and reduces revenue at the time of shipment for the estimated amount of future returns, based on historical experience. The Company offers an assurance-type limited warranty that products will be free from defects in materials and workmanship. The Company establishes an accrual for estimated warranty expenses at the time revenue is recognized. The warranty is typically one year, although can be longer periods for certain products, and is limited to either (1) the replacement or repair of the product or (2) a credit against future purchases. The Company believes that disaggregating revenue by end market provides the most relevant information regarding the nature, amount, timing, and uncertainty of revenues and cash flows. See Note 4. Revenue from Contracts with Customers. Research and Development . Research and development expenses include salaries, contractor and consultant fees, supplies and materials, as well as costs related to other overhead such as depreciation, facilities, utilities and other departmental expenses. The costs we incur with respect to internally developed technology, including allocations of our wafer fabrication and other manufacturing facilities and resources utilized to support R&D programs, are included in research and development expenses as incurred. Share-Based Compensation. Share-based compensation arrangements require the recognition in net earnings (loss) of the grant date fair value of stock compensation (for equity-classified awards). The Company recognizes the share-based compensation expense over the requisite service period of the individual grantees, which generally equals the vesting period, net of forfeitures. The estimated annualized forfeitures are based on the Company’s historical experience of pre-vesting cancellations. The Company will record additional expense in future periods if the actual forfeiture rate is lower than estimated, and will adjust expense in future periods if the actual forfeitures are higher than estimated. Accumulated Other Comprehensive Income (Loss). Accumulated other comprehensive income (loss) is a measure of all changes in shareholders’ equity that result from transactions and other economic events in the period other than transactions with owners. Accumulated other comprehensive income (loss) is a component of shareholders’ equity and consists of accumulated foreign currency translation adjustments, changes in the fair value of interest rate swap derivative instruments, and pension adjustments. Fair Value Measurements. The Company applies fair value accounting for all financial assets and liabilities that are required to be recognized or disclosed at fair value in the Consolidated Financial Statements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which the Company would transact, and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

Recently Issued Financial Accou

Recently Issued Financial Accounting Standards	12 Months Ended
Recently Issued Financial Accounting Standards	Jun. 30, 2022
Accounting Policies [Abstract]
Recently Issued Financial Accounting Standards	Recently Issued Financial Accounting Standards Debt - Debt with Conversion and Other Options and Derivatives and Hedging - Contracts in Entity's Own Equity In August 2020, the FASB issued ASC Update No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) ("ASU 2020-06"). The update simplifies the accounting for convertible instruments by eliminating two accounting models (i.e., the cash conversion model and beneficial conversion feature model) and reducing the number of embedded conversion features that could be recognized separately from the host contract. ASU 2020-06 also enhances transparency and improves disclosures for convertible instruments and earnings per share guidance. The Company adopted this standard as of July 1, 2021. The Company elected to use the modified retrospective method to report the effect of the changes. Adoption of the standard affected the Company's currently outstanding 0.25% Convertible Senior Notes due 2022 (the "II-VI Convertible Notes"). Refer to Note 8. Debt for the impact of the adoption on the II-VI Convertible Notes. Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The guidance simplifies the accounting for income taxes by removing certain exceptions and adding guidance to improve consistency for other areas of Topic 740. The Company adopted this standard effective July 1, 2021. The adoption did not have a material impact on the Company’s consolidated financial statements. Pronouncements Currently Under Evaluation Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients to ease the potential burden of accounting for the effects of reference rate reform as it pertains to contract modifications of debt and lease contracts and derivative contracts identified in a hedging relationship. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is in the process of evaluating the impact of the pronouncement. Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In October 2021, the Financial Accounting Standards Board (the "FASB") issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”), which requires an acquirer to recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASC 606 rather than adjust them to fair value at the acquisition date. We will adopt this accounting standard in the first quarter of fiscal 2023. Results of operations for quarterly periods prior to adoption remain unchanged as a result of the adoption of ASU No. 2021-08. The acquisition of Coherent, and all future acquisitions, will be accounted for in accordance with ASU 2021-08. Refer to Note 3. Coherent Acquisition for further information. The adoption of this standard did not have an impact on our Consolidated Financial Statements.

Coherent Acquisition

Coherent Acquisition	12 Months Ended
Coherent Acquisition	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Coherent Acquisition	Coherent Acquisition On July 1, 2022, the Company completed its acquisition of all of the outstanding equity interests in Coherent, Inc. (the “Merger”), a global provider of lasers and laser-based technology for scientific, commercial, and industrial customers, in a combined cash and stock transaction in accordance with the Agreement and Plan of Merger dated March 25, 2021 (the “Merger Agreement”). The Merger was consummated with the goal of creating a uniquely strategic global leader capable of delivering to our customers the most attractive combination of photonic solutions, compound semiconductors, as well as laser technology and systems. The results of the Merger will be included in the Company’s consolidated operating results beginning on July 1, 2022. Pursuant to the terms of the Merger Agreement, and subject to the conditions set forth therein, each share of common stock of Coherent, par value $0.01 per share (the “Coherent Common Stock”), issued and outstanding immediately prior to July 1, 2022, was canceled and extinguished and automatically converted into the right to receive $220.00 in cash and 0.91 of a share of II-VI Common Stock. In order to complete the funding of the Merger, the Company had a net cash outflow of $2.1 billion on July 1, 2022. Estimated expenses, comprised of success-based transaction costs and estimated severance costs relating to the consummation of the Merger are approximately $87 million and will be recognized as expense in the Condensed Consolidated Statement of Earnings for the first quarter of fiscal year 2023. A total of 23 million shares were issued in conjunction with the closing of the Merger. Estimated Merger consideration is approximately $7.1 billion, including replacement equity awards attributable to pre-combination service for certain Coherent restricted stock units. The Company will account for the acquisition as a business combination and will recognize the assets acquired and liabilities assumed at their fair values as of July 1, 2022. A significant portion of the purchase price is expected to be allocated to intangible assets and goodwill. Due to the timing of the Merger being after our fiscal year-end, and the amount of assets acquired and liabilities assumed, our initial accounting is incomplete and therefore we have not provided the other disclosures set forth in ASC 805, Business Combinations. Such information will be disclosed in our condensed consolidated financial statements for the fiscal quarter ending September 30, 2022. The calculation of estimated expenses and estimated Merger consideration set forth herein is preliminary and will be revised as additional information becomes available during the measurement period, which could be up to 12 months from the acquisition date. Any such revisions or changes may be material. The expenses associated with the Merger for the year ended June 30, 2022, have not been allocated to an operating segment, and are presented in the Unallocated and Other in Note 14. Segment and Geographic Reporting. The total expense for the years ended June 30, 2022 and 2021 was $36 million and $27 million, respectively and is recorded in SG&A in our Consolidated Statement of Earnings (Loss).

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
Revenue from Contracts with Customers	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The following table summarizes disaggregated revenue by market for the years ended June 30, 2022, 2021 and 2020 ($000): Year Ended June 30, 2022 Photonic Compound Total Industrial $ 71,027 $ 340,079 $ 411,106 Communications 2,078,288 124,843 2,203,131 Aerospace & Defense — 184,635 184,635 Consumer 9,255 221,002 230,257 Semiconductor 13,841 137,182 151,023 Other 53,785 82,679 136,464 Total Revenues $ 2,226,196 $ 1,090,420 $ 3,316,616 Year Ended June 30, 2021 Photonic Compound Total Industrial $ 50,181 $ 275,698 $ 325,879 Communications 1,917,697 134,969 2,052,666 Aerospace & Defense — 201,845 201,845 Consumer 9,138 277,319 286,457 Semiconductor 9,778 107,374 117,152 Other 51,490 70,402 121,892 Total Revenues $ 2,038,284 $ 1,067,607 $ 3,105,891 Year Ended June 30, 2020 Photonic Compound Unallocated & Other Total Industrial $ 52,806 $ 240,475 $ — $ 293,281 Communications 1,437,377 125,527 21,557 1,584,461 Aerospace & Defense — 175,097 — 175,097 Consumer 4,620 126,227 494 131,341 Semiconductor 7,971 102,203 — 110,174 Other 34,016 51,701 — 85,717 Total Revenues $ 1,536,790 $ 821,230 $ 22,051 $ 2,380,071 "Other" revenue included in the tables above include revenue from the life science/medical and automotive end markets. Contract Liabilities Payments received from customers are based on invoices or billing schedules as established in contracts with customers. Contract liabilities relate to billings in advance of performance under the contracts. Contract liabilities are recognized as revenue when performance obligations have been performed. During the year ended June 30, 2022, the Company recognized revenue of $13 million related to customer payments that were included in the Consolidated Balance Sheets as of June 30, 2021. As of June 30, 2022 and June 30, 2021, the Company had $69 million and $40 million, respectively, of contract liabilities recorded in the Consolidated Balance Sheets.

Inventories

Inventories	12 Months Ended
Inventories	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventories were as follows: June 30, 2022 2021 ($000) Raw materials $ 318,758 $ 211,890 Work in progress 408,405 336,391 Finished goods 175,396 147,547 Total Inventories $ 902,559 $ 695,828

Property, Plant & Equipment

Property, Plant & Equipment	12 Months Ended
Property, Plant & Equipment	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant & Equipment	Property, Plant & Equipment Property, plant & equipment consists of the following: June 30, 2022 2021 ($000) Land and land improvements $ 19,368 $ 20,454 Buildings and improvements 415,530 419,157 Machinery and equipment 1,651,762 1,483,183 Construction in progress 271,605 136,544 Finance lease right-of-use asset 25,000 25,000 2,383,265 2,084,338 Less accumulated depreciation (1,020,070) (841,432) Property, plant, and equipment, net $ 1,363,195 $ 1,242,906 Included in the table above is a building acquired under a finance lease. As of June 30, 2022 and June 30, 2021, the accumulated depreciation of the finance lease ROU asset was $9 million and $7 million, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
Goodwill and Other Intangible Assets	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill represents the excess of the cost over the net tangible and identifiable intangible assets of acquired businesses. Identifiable intangible assets acquired in business combinations are recorded based upon fair value at the date of acquisition. Changes in the carrying amount of goodwill were as follows ($000): Year Ended June 30, 2022 Year Ended June 30, 2021 Photonic Compound Total Photonic Compound Total Balance-beginning of period $ 1,053,028 $ 243,699 $ 1,296,727 $ 1,052,494 $ 186,515 $ 1,239,009 Goodwill acquired — — — — 54,634 54,634 Finisar measurement period adjustments — — — (4,901) — (4,901) Foreign currency translation (4,285) (6,683) (10,968) 5,435 2,550 7,985 Balance-end of period $ 1,048,743 $ 237,016 $ 1,285,759 $ 1,053,028 $ 243,699 $ 1,296,727 The gross carrying amount and accumulated amortization of the Company’s intangible assets other than goodwill as of June 30, 2022 and 2021 were as follows ($000): June 30, 2022 June 30, 2021 Gross Accumulated Net Gross Accumulated Net Technology $ 473,845 $ (144,409) $ 329,436 $ 476,200 $ (106,802) $ 369,398 Trade Names 22,536 (7,454) 15,082 22,660 (6,233) 16,427 Customer Lists 464,880 (173,994) 290,886 469,154 (136,519) 332,635 Other 1,563 (1,563) — 1,576 (1,576) — Total $ 962,824 $ (327,420) $ 635,404 $ 969,590 $ (251,130) $ 718,460 Amortization expense recorded on the intangible assets for the fiscal years ended June 30, 2022, 2021 and 2020 was $80 million, $82 million, and $64 million, respectively. The technology intangible assets are being amortized over a range of 60 to 240 months with a weighted-average remaining life of approximately 153 months and the amortization is recorded in cost of goods sold in our Consolidated Statements of Earnings (Loss). The customer lists are being amortized over 60 to 240 months with a weighted-average remaining life of approximately 135 months and the amortization is recorded in SG&A in our Consolidated Statements of Earnings (Loss). In connection with past acquisitions, the Company acquired trade names with indefinite lives. The carrying amount of these trade names of $14 million as of June 30, 2022 is not amortized but tested annually for impairment. The Company completed its impairment test of these trade names with indefinite lives in the fourth quarter of fiscal years 2022 and 2021. Based on the results of these tests, the trade names were not impaired. The estimated amortization expense for existing intangible assets for each of the five succeeding years is as follows ($000): Year Ending June 30, 2023 $ 77,480 2024 75,607 2025 74,119 2026 72,265 2027 70,495

Debt

Debt	12 Months Ended
Debt	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt The components of debt for the periods indicated were as follows ($000): June 30, 2022 June 30, 2021 Term A Facility, interest at LIBOR, as defined, plus 1.375% $ 995,363 $ 1,057,412 Debt issuance costs, Term A Facility and Revolving Credit Facility (18,396) (25,191) 5.000% Senior Notes 990,000 — Debt issuance costs and discount, Senior Notes (7,703) — 0.50% Convertible Senior Notes, assumed in the Finisar acquisition — 14,888 0.25% Convertible Senior Notes 341,501 344,969 Debt issuance costs and discount, 0.25% Convertible Senior Notes (339) (16,937) Total debt 2,300,426 1,375,141 Current portion of long-term debt (403,212) (62,050) Long-term debt, less current portion $ 1,897,214 $ 1,313,091 The scheduled maturities of principal amounts of debt obligations for the next five years and thereafter is as follows ($000): Year Ending June 30, 2023 $ 403,551 2024 62,050 2025 871,263 2026 — 2027 — Thereafter 990,000 Total $ 2,326,864 Senior Credit Facilities Through June 30, 2022, the Company had Senior Credit Facilities with Bank of America, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer, and the other lenders party thereto. The credit agreement governing the Senior Credit Facilities (the "Credit Agreement") provides for senior secured financing of $2.425 billion in the aggregate, consisting of (i) Aggregate principal amount of $1,255 million for a five-year senior secured first-lien term A loan facility (the “Term A Facility”), (ii) Aggregate principal amount of $720 million for a seven-year senior secured term B loan facility (the “Term B Facility” and together with the Term A Facility, the “Term Loan Facilities”), which was repaid in full during the quarter ended September 30, 2020, and (iii) Aggregate principal amount of $450 million for a five-year senior secured first-lien revolving credit facility (the “Revolving Credit Facility” and together with the Term Loan Facilities, the “Senior Credit Facilities”). The Credit Agreement also provides for a letter of credit sub-facility not to exceed $25 million and a swing loan sub-facility initially not to exceed $20 million. The Company is obligated to repay the outstanding principal amount of the Term A Facility in quarterly installments equal to 1.25% of the initial aggregate principal amount of the Term A Facility, with the remaining outstanding balance due and payable on the fifth anniversary of September 24, 2019 (the "Closing Date"). The Company is obligated to repay the outstanding principal amount of the Revolving Credit Facility, if any, on the fifth anniversary of the Closing Date. Notwithstanding the foregoing, all amounts outstanding under the Senior Credit Facilities will become due and payable 120 days prior to the maturity of the II-VI Convertible Notes if (i) the II-VI Convertible Notes remain outstanding and (ii) the Company has insufficient cash and borrowing availability under the Revolving Credit Facility to repay the principal amount of the II-VI Convertible Notes. The II-VI Convertible Notes are included in the current portion of long-term debt. The Company has sufficient cash to repay the principal amount of the II-VI Convertible Notes, therefore the Senior Credit Facilities remain classified as long-term obligations in the Consolidated Balance Sheets. The Company’s obligations under the Senior Credit Facilities are guaranteed by each of the Company’s material existing or future direct and indirect domestic subsidiaries, including Finisar Corporation ("Finisar") and its domestic subsidiaries (collectively, the “Guarantors”), subject to certain exceptions. Borrowings under the Senior Credit Facilities are secured by a first priority lien in substantially all of the assets of the Company and the Guarantors, subject to certain exceptions, including that no real property secures the Senior Credit Facilities. Amounts outstanding under the Senior Credit Facilities will bear interest at a rate per annum equal to an applicable margin over a eurocurrency rate or an applicable margin over a base rate determined by reference to the highest of (a) the federal funds rate plus 0.50%, (b) Bank of America, N.A.’s prime rate and (c) a eurocurrency rate plus 1.00%, in each case as calculated in accordance with the terms of the Credit Agreement. The applicable interest rate would increase under certain circumstances relating to events of default. The Company has entered into an interest rate swap contract to hedge its exposure to interest rate risk on its variable rate borrowings under the Senior Credit Facilities. Refer to Note 15. Fair Value of Financial Instruments for further information regarding this interest rate swap. The Credit Agreement contains customary affirmative and negative covenants with respect to the Senior Credit Facilities, including limitations with respect to liens, investments, indebtedness, dividends, mergers and acquisitions, dispositions of assets and transactions with affiliates. The Company will be obligated to maintain a consolidated interest coverage ratio (as calculated in accordance with the terms of the Credit Agreement) as of the end of each fiscal quarter of not less than 3.00 to 1.00. The Company will be obligated to maintain a consolidated total net leverage ratio (as calculated in accordance with the terms of the Credit Agreement) of not greater than (i) 5.00 to 1.00 for the first four fiscal quarters after the Closing Date, commencing with the first full fiscal quarter after the Closing Date, (ii) 4.50 to 1.00 for the fifth fiscal quarter through and including the eighth fiscal quarter after the Closing Date, and (iii) 4.00 to 1.00 for each subsequent fiscal quarter. As of June 30, 2022, the Company was in compliance with all financial covenants under the Credit Agreement. On July 1, 2022, the Credit Agreement was terminated, and amounts borrowed under the Term A Facility were repaid in full using proceeds from the New Term Facilities (defined below). New Senior Credit Facilities In connection with entering into the Merger Agreement, II-VI obtained a fully underwritten financing commitment pursuant to a commitment letter, dated as of March 25, 2021, as further amended and restated on April 21, 2021 and October 25, 2021 (the “Amended and Restated Commitment Letter”), with JP Morgan Chase Bank, N.A., Citigroup Global Markets Inc., MUFG Bank, Ltd., MUFG Securities Americas Inc., PNC Capital Markets LLC, PNC Bank, National Association, HSBC Securities (USA) Inc., HSBC Bank USA, National Association, Citizens Bank, N.A., Mizuho Bank, Ltd., BMO Capital Markets Corp., Bank of Montreal, TD Securities (USA) LLC, The Toronto-Dominion Bank, New York Branch, TD Bank, N.A., and First National Bank of Pennsylvania (collectively, the “Commitment Parties”) pursuant to which the Commitment Parties committed to provide up to $5.0 billion in debt financing. On July 1, 2022, II-VI entered into a Credit Agreement by and among the Company, the lenders, and other parties thereto, and JP Morgan Chase Bank, N.A., as administrative agent and collateral agent, which provides for senior secured financing of $4.0 billion, consisting of a new term loan A credit facility (the "New Term A Facility") in an aggregate principal amount of $850 million, a new term loan B credit facility (the "New Term B Facility") and, together with the New Term A Facility, the “New Term Facilities”) in an aggregate principal amount of $2,800 million, and a new revolving credit facility (the “New Revolving Credit Facility”) in an aggregate principal amount of $350 million, including a letter of credit sub-facility of up to $50 million, in each case as contemplated under the Amended and Restated Commitment Letter. The New Term A Facility and the New Revolving Credit Facility will each bear interest at LIBOR subject to a 0.00% floor plus a range of 1.75% to 2.50%, based on the Company’s total net leverage ratio. The New Term A Facility and the New Revolving Credit Facility borrowings are initially expected to bear interest at LIBOR plus 2.00%. The New Term B Facility will bear interest at LIBOR (subject to a 0.50% floor) plus 2.75%. In relation to the New Term B Facility, the Company incurred expense of $34 million in the year ended June 30, 2022, which is included in interest expense in the Consolidated Statements of Earnings (Loss). Proceeds of the loans borrowed under the New Term Facilities on July 1, 2022, together with other financing sources (including the Senior Notes) and cash on hand, were used to fund the cash portion of Merger consideration, the repayment of certain indebtedness (including the repayment in full of the Credit Agreement), and certain fees and expenses in connection with the Merger and otherwise for general corporate purposes. The Company capitalized approximately $17 million of debt issuance costs during the year ended June 30, 2022. These capitalized costs are presented within the prepaid and other current assets and other assets in the Consolidated Balance Sheets. Amortization of debt issuance costs related to the New Term Facilities for the year ended June 30, 2022 totaled $5 million and is included in interest expense in the Consolidated Statements of Earnings (Loss). 5.000% Senior Notes due 2029 On December 10, 2021, the Company issued $990 million aggregate principal amount of 5.000% Senior Notes due 2029 (the "Senior Notes") pursuant to the indenture, dated as of December 10, 2021 (the "Indenture"), between the Company and U.S. Bank National Association, as trustee (the "Trustee"). The Senior Notes were offered and sold either to persons reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), or to persons outside the United States under Regulation S of the Securities Act. The Senior Notes are guaranteed by each of the Company’s domestic subsidiaries that guarantee its obligations under the Senior Credit Facilities. Interest on the Senior Notes will be payable on December 15 and June 15 of each year, commencing on June 15, 2022, at a rate of 5.000% per annum. The Senior Notes will mature on December 15, 2029 . If (i) the Merger had not been consummated on or prior to 11:59 p.m., Eastern Time, on December 15, 2022 or (ii) the Company informed the Trustee, in writing or otherwise announced in writing that the Merger was no longer being pursued and/or the Merger Agreement had been terminated, the Company would have been required to redeem all of the outstanding Senior Notes at a redemption price equal to 100% of the principal amount of the Senior Notes, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date (the "Special Mandatory Redemption Date"). Pursuant to the terms of the Indenture, prior to the earlier of (i) the date of the consummation of the Merger and (ii) the Special Mandatory Redemption Date, the gross proceeds from the Senior Notes could not be used for any purpose, and therefore $990 million of restricted cash was classified within cash, cash equivalents, and restricted cash on the Consolidated Balance Sheets at June 30, 2022. On or after December 15, 2024, the Company may redeem the Senior Notes, in whole at any time or in part from time to time, at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. In addition, at any time prior to December 15, 2024, the Company may redeem the Senior Notes, at its option, in whole at any time or in part from time to time, at a redemption price equal to 100% of the principal amount of the Senior Notes redeemed, plus a “make-whole” premium set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. Notwithstanding the foregoing, at any time and from time to time prior to December 15, 2024, the Company may redeem up to 40% of the aggregate principal amount of the Senior Notes using the proceeds of certain equity offerings as set forth in the Indenture, at a redemption price equal to 105.000% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. The Indenture contains customary covenants and events of default, including default relating to among other things, payment default, failure to comply with covenants or agreements contained in the Indenture or the Senior Notes and certain provisions related to bankruptcy events. As of June 30, 2022, the Company was in compliance with all covenants under the Indenture. Bridge Loan Commitment Subject to the terms of the Amended and Restated Commitment Letter, the commitment parties thereto committed to provide, in addition to the New Term Facilities and the New Revolving Credit Facilities, a senior unsecured bridge loan facility in an aggregate principal amount of $990 million (the "Bridge Loan Commitment"). As a result of the issuance of the Senior Notes, the Bridge Loan Commitment was terminated. During the year ended June 30, 2022, the Company incurred expenses of $3 million related to the Bridge Loan Commitment, which is included in interest expense in the Consolidated Statements of Earnings (Loss). 0.50% Finisar Convertible Notes On No vember 1, 2021, Finisar delivered to holders of all outstanding 0.50% Convertible Senior Notes due 2036 issued by Finisar (the "Finisar Notes") a notice of redemption pursuant to which Finisar provided notice that it would redeem on December 22, 2021 all of the Finisar Notes that were not repurchased by Finisar on December 15, 2021 pursuant to the terms of the Finisar Notes and that remained outstanding on December 22, 2021. On December 15, 2021, Finisar repurchased $15 million aggregate principal amount of Finisar Notes that were tendered for repurchase by holders of Finisar Notes. Each holder of Finisar Notes that remained outstanding after the repurchase on December 15, 2021 had the option to elect to receive (i) a redemption price equal to 100% of the principal amount of the redeemed Finisar Notes, plus accrued and unpaid interest on the redeemed Finisar Notes or (ii) to convert all or any portion of the Finisar Notes held by such holder in accordance with the terms of the Finisar Notes until the close of business on December 21, 2021. Based on the elections of such holders, the Company issued 45 shares of common stock and paid approximately $0.3 million in the aggregate on December 22, 2021 to settle the conversion of the Finisar Notes that were converted and to redeem all remaining outstanding Finisar Notes. 0.25% Convertible Senior Notes In August 2017, the Company issued and sold $345 million aggregate principal amount of the II-VI Convertible Notes in a private placement to qualified institutional buyers within the meaning of Rule 144A under the Securities Act of 1933, as amended. Originally, the Company had separately accounted for the value of the conversion option as an equity component, and the resulting debt discount was amortized as additional non-cash interest expense. With the adoption of ASU 2020-06 on July 1, 2021, the Company reversed that accounting, electing to use the modified retrospective method. The adoption resulted in an increase of $15 million to the current portion of long-term debt, a decrease of $3 million to deferred income taxes, and a decrease of $11 million to shareholders' equity. If the Company had not adopted ASU 2020-06, additional interest expense included in the Consolidated Statements of Earnings would have been $13 million, and the impact of the change on basic and diluted earnings per share is a decrease of $0.09 and $0.02, respectively. The initial conversion rate is 21.25 shares of II-VI Common Stock per $1,000 principal amount of II-VI Convertible Notes, which is equivalent to an initial conversion price of $47.06 per share of II-VI Common Stock. Throughout the term of the II-VI Convertible Notes, the conversion rate may be adjusted upon the occurrence of certain events. The if-converted value of the II-VI Convertible Notes amounted to $370 million as of June 30, 2022 and $532 million as of June 30, 2021 (based on the Company’s closing stock price on the last trading day of the fiscal periods then ended). Prior to the close of business on the business day immediately preceding June 1, 2022, the II-VI Convertible Notes were convertible only under the following circumstances: (i) during any fiscal quarter commencing after the fiscal quarter ending on December 31, 2017 (and only during such fiscal quarter), if the last reported sale price of the II-VI Common Stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (ii) during the five five (iii) upon the occurrence of certain specified corporate events. On or after June 1, 2022 until the close of business on the business day immediately preceding September 1, 2022 (the "Maturity Date"), holders may convert their II-VI Convertible Notes at any time, regardless of the foregoing circumstances. Upon conversion occurring prior to June 1, 2022, the Company will pay or delivered, as the case may be, cash, shares of II-VI Common Stock or a combination of cash and shares of II-VI Common Stock, at the Company’s election, to settle conversions. For conversions occurring on or after June 1, 2022, the Company will deliver shares of II-VI Common Stock to settle conversions. Holders of the II-VI Convertible Notes will not receive any cash payment representing accrued and unpaid interest upon conversion of a II-VI Convertible Note, other than as provided in the governing indenture. Accrued but unpaid interest will be deemed to be paid in full upon conversion rather than cancelled, extinguished or forfeited, other than as provided in the governing indenture. Notes were convertible during three quarters in the year ended June 30, 2022. Because the last reported sale price of II-VI Common Stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the year ended June 30, 2022 was equal to or greater than 130% of the applicable conversion price on each applicable trading day, the II-VI Convertible Notes were convertible at the option of the holders thereof during the fiscal period ranging from April 1, 2022 to May 31, 2022. As of June 1, 2022, the II-VI Convertible Notes become convertible regardless of compliance with any other conversion trigger until the close of business on the business day immediately preceding the Maturity Date. For the year ended June 30, 2022, conversions totaled $3 million of aggregate principal amount, resulting in the issuance of 74 thousand shares of II-VI Common Stock. The following table sets forth total interest expense recognized related to the II-VI Convertible Notes for the years ended June 30, 2022, 2021 and 2020 ($000): Year Ended June 30, 2022 Year Ended June 30, 2021 Year Ended June 30, 2020 0.25% contractual coupon $ 875 $ 874 $ 876 Amortization of debt discount and debt issuance costs including initial purchaser discount 1,947 13,748 13,172 Interest expense $ 2,822 $ 14,622 $ 14,048 The effective interest rate on the liability component was 1% for the year ended June 30, 2022, and 5% for the years ended June 30, 2021 and 2020. Aggregate Availability The Company had aggregate availability of $450 million under its Revolving Credit Facility as of June 30, 2022. Weighted Average Interest Rate The weighted average interest rate of total borrowings was 2% and 1% for the years ended June 30, 2022 and 2021, respectively

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of earnings (loss) before income taxes were as follows: Year Ended June 30, 2022 2021 2020 ($000) U.S. income (loss) $ (62,721) $ 21,692 $ (302,027) Non-U.S. income 344,528 330,898 238,099 Earnings (loss) before income taxes $ 281,807 $ 352,590 $ (63,928) The components of income tax expense were as follows: Year Ended June 30, 2022 2021 2020 ($000) Current: Federal $ 1,569 $ 415 $ 7 State 768 1,632 496 Foreign 52,865 53,362 45,052 Total Current $ 55,202 $ 55,409 $ 45,555 Deferred: Federal $ (7,185) $ 13,744 $ (43,955) State (1,215) (431) 1,007 Foreign 246 (13,684) 494 Total Deferred $ (8,154) $ (371) $ (42,454) Total Income Tax Expense $ 47,048 $ 55,038 $ 3,101 Principal items comprising deferred income taxes were as follows: June 30, 2022 2021 ($000) Deferred income tax assets Inventory capitalization $ 20,562 $ 20,753 Interest rate swap — 6,347 Non-deductible accruals 8,403 7,437 Accrued employee benefits 11,320 14,025 Net-operating loss and credit carryforwards 149,949 163,717 Share-based compensation expense 10,125 8,400 Other 3,565 1,832 Deferred revenue 12,416 7,124 Right of use asset 29,817 33,341 Valuation allowances (55,420) (53,765) Total deferred income tax assets $ 190,737 $ 209,211 Deferred income tax liabilities Tax over book accumulated depreciation $ (28,701) $ (32,692) Intangible assets (134,972) (153,582) Interest rate swap (6,105) — Interest rate cap (4,102) — Tax on unremitted earnings (26,383) (21,569) Convertible debt — (3,321) Lease liability (28,983) (32,053) Other (7,036) (6,458) Total deferred income tax liabilities $ (236,282) $ (249,675) Net deferred income taxes $ (45,545) $ (40,464) The reconciliation of income tax expense at the statutory U.S. federal rate to the reported income tax expense is as follows: Year Ended June 30, 2022 % 2021 % 2020 % ($000) Taxes at statutory rate $ 59,179 21 $ 74,044 21 $ (13,425) 21 Increase (decrease) in taxes resulting from: State income taxes-net of federal benefit (339) — 1,246 — 1,194 (2) Taxes on non U.S. earnings (2,704) (1) (26,557) (7) (915) 1 Valuation allowance (1,513) (1) (3,720) (1) (9,365) 15 Research and manufacturing incentive deductions and credits (24,341) (9) (22,968) (6) (15,836) 25 Stock compensation 2,095 1 (2,500) (1) 4,334 (7) GILTI and FDII 4,866 2 27,369 8 36,067 (56) Other 9,805 4 8,124 2 1,047 (2) $ 47,048 17 $ 55,038 16 $ 3,101 (5) The Company previously considered the earnings in non-U.S. subsidiaries to be indefinitely reinvested and, accordingly, recorded no deferred income taxes. As a result of the Tax Cuts and Jobs Act (the “Tax Act”), among other things, the Company determined it will repatriate earnings for all non-U.S. subsidiaries with cash in excess of working capital needs. Such distributions could potentially be subject to U.S. state tax in certain states and foreign withholding taxes. Foreign currency gains (losses) related to the translation of previously taxed earnings from functional currency to U.S. dollars could also be subject to U.S. tax when distributed. The Company has estimated the associated withholding tax to be $26 million. Additionally, the Tax Act introduced a new category of income, referred to as global intangible low tax income (“GILTI”), which requires a current year inclusion of earnings of controlled foreign corporations taxed at a low rate and without a significant fixed asset base. The Company made a final accounting policy election to treat taxes due from future inclusions in U.S. taxable income related to GILTI as a current period expense when incurred. During the fiscal years ended June 30, 2022, 2021, and 2020, cash paid by the Company for income taxes was $50 million, $60 million, and $40 million, respectively. Our foreign subsidiaries in various tax jurisdictions operate under tax holiday arrangements. The impact of the tax holidays on our effective rate is a reduction in the rate of 1.60%, 3.22% and (8.91)% for the fiscal years ended June 30, 2022, 2021 and 2020, respectively, and the impact of the tax holidays on diluted earnings per share is $0.04, $0.10, and $0.07 for the fiscal years ended June 30, 2022, 2021, and 2020, respectively. The tax holiday related to II-VI Malaysia Advanced Manufacturing Center Sdn. Bhd will end during the fiscal year ended June 30, 2026, the tax holiday related to certain II-VI Laser Enterprise Philippines, Inc.'s business lines will end during the fiscal year ended June 30, 2026, and the tax holiday related to II-VI Vietnam Co., Ltd will end during the fiscal year ended June 30, 2024. The Company has the following gross operating loss carryforwards and tax credit carryforwards as of June 30, 2022: Type Amount Expiration Date ($000) Tax credit carryforwards: Federal research and development credits $ 83,063 June 2023-June 2042 Foreign tax credits 3,540 June 2030-June 2032 State tax credits 15,632 June 2023-June 2037 State tax credits (indefinite) 39,243 Indefinite Operating loss carryforwards: Loss carryforwards - federal $ 42,012 June 2023-June 2036 Loss carryforwards - state 182,178 June 2023-June 2042 Loss carryforwards - state (indefinite) 25,899 Indefinite Loss carryforwards - foreign 15,608 June 2023-June 2032 Loss carryforwards - foreign (indefinite) 38,600 Indefinite The Company has recorded a valuation allowance against the majority of the foreign and state loss and credit carryforwards. The Company’s U.S. federal loss carryforwards, federal research and development credit carryforwards, and certain state tax credits resulting from the Company’s acquisitions are subject to various annual limitations under Section 382 of the U.S. Internal Revenue Code. Changes in the liability for unrecognized tax benefits for the fiscal years ended June 30, 2022, 2021 and 2020 were as follows: 2022 2021 2020 ($000) Beginning balance $ 38,025 $ 42,803 $ 11,520 Increases in current year tax positions 1,803 3,940 1,506 Acquired business — 5,341 31,791 Settlements — (7,514) — Expiration of statute of limitations (2,417) (6,545) (2,014) Ending balance $ 37,411 $ 38,025 $ 42,803 The Company classifies all estimated and actual interest and penalties as income tax expense. During fiscal years 2022, 2021 and 2020, there was $0.4 million, $0.3 million and $0.6 million of interest and penalties within income tax expense, respectively. The Company had $3 million, $3 million and $4 million of interest and penalties accrued at June 30, 2022, 2021 and 2020, respectively. The Company has classified the uncertain tax positions as non-current income tax liabilities, as the amounts are not expected to be paid within one year. Including tax positions for which the Company determined that the tax position would not meet the more likely than not recognition threshold upon examination by the tax authorities based upon the technical merits of the position, the total estimated unrecognized tax benefit that, if recognized, would affect our effective tax rate, was approximately $25 million, $26 million and $24 million at June 30, 2022, 2021 and 2020, respectively. The Company expects a decrease of $2 million of unrecognized tax benefits during the next 12 months due to the expiration of statutes of limitation. Fiscal years 2019 to 2022 remain open to examination by the Internal Revenue Service, fiscal years 2018 to 2022 remain open to examination by certain state jurisdictions, and fiscal years 2010 to 2022 remain open to examination by certain foreign taxing jurisdictions. The Company is currently under examination for certain subsidiary companies in India for the year ended March 31, 2016; Philippines for the years ended June 2018 and 2019; and Germany for the years ended June 30, 2012 through June 30, 2018. The Company believes its income tax reserves for these tax matters are adequate.

Equity and Redeemable Preferred

Equity and Redeemable Preferred Stock	12 Months Ended
Equity and Redeemable Preferred Stock	Jun. 30, 2022
Equity [Abstract]
Equity and Redeemable Preferred Stock	Equity and Redeemable Preferred Stock The Company has 5 million shares of preferred stock authorized, of which 2.3 million shares have been designated and issued as Series A Mandatory Convertible Preferred Stock, no par value per share, and 215,000 shares have been designated as Series B Convertible Preferred Stock, no par value per share, of which 75,000 shares were issued at June 30, 2022 and 2021. Mandatory Convertible Preferred Stock In July 2020, the Company issued of 2,300,000 shares of 6.00% Series A Mandatory Convertible Preferred, no par value per share (“Mandatory Convertible Preferred Stock”). Unless previously converted, each outstanding share of Mandatory Convertible Preferred Stock will automatically convert on the Mandatory Conversion Date (as defined in the Statement with Respect to Shares establishing the Mandatory Convertible Preferred Stock) into a number of shares of II-VI Common Stock equal to not more than 4.6512 shares of II-VI Common Stock and not less than 3.8760 shares of II-VI Common Stock (the “ Minimum Conversion Rate ”), depending on the applicable market value of the II-VI Common Stock, determined in accordance with the terms of the Mandatory Convertible Preferred Stock and subject to certain anti-dilution adjustments. Other than in the event of one of certain fundamental changes, a holder of Mandatory Convertible Preferred Stock may, at any time prior to July 1, 2023, elect to convert such holder’s shares of Mandatory Convertible Preferred Stock, in whole or in part (but in no event less than one share of Mandatory Convertible Preferred Stock), at the Minimum Conversion Rate per share of Mandatory Convertible Preferred Stock, subject to certain anti-dilution adjustments. If one of certain fundamental changes occurs on or prior to July 1, 2023, holders of the Mandatory Convertible Preferred Stock will have the right to convert their shares of Mandatory Convertible Preferred Stock, in whole or in part (but in no event less than one share of the Mandatory Convertible Preferred Stock), into shares of II-VI Common Stock at the conversion rate determined in accordance with the terms of the Mandatory Convertible Preferred Stock during the period beginning on, and including, the effective date of such change and ending on, and including, the date that is 20 calendar days after the effective date of such fundamental change (or, if later, the date that is 20 calendar days after holders receive notice of such fundamental change, but in no event later than July 1, 2023). Holders who convert their shares of the Mandatory Convertible Preferred Stock during that period will also receive a dividend make-whole amount and, to the extent there is any, the accumulated dividend amount, in each case as calculated in accordance with the terms of the Mandatory Convertible Preferred Stock. Upon issuance of the Mandatory Convertible Preferred Stock, the Company used a Monte Carlo simulation model to estimate the future market value of the II-VI Common Stock on the mandatory conversion date, based on the following inputs: Expected Volatility 50% - 55% Cost of Equity 14% - 17% Dividend Yield none Expected volatility is based on the historical volatility of II-VI Common Stock, taking into consideration the mean-reverting tendency of volatility and the expected term of the Mandatory Convertible Preferred Stock, as well as traded option contracts for II-VI Common Stock. The cost of equity was calculated over a three-year term, assuming a risk-free interest rate of 0.2% derived from the average U.S. Treasury Note rate during the period. The dividend yield of zero is based on the fact that the Company has never paid cash dividends on II-VI Common Stock and has no current intention to pay cash dividends on II-VI Common Stock in the future. The Company recognized $28 million and $27 million of preferred stock dividends during fiscal years 2022 and 2021, respectively, associated with the Mandatory Convertible Preferred Stock, which were presented as a reduction to retained earnings on the Consolidated Balance Sheet as of June 30, 2022. The following table presents dividends per share and dividends recognized for the years ended June 30, 2022, and June 30, 2021: Year Ended June 30, 2022 Year Ended June 30, 2021 Dividends per share 12.00 11.80 Series A Mandatory Convertible Preferred Stock dividends ($000) 27,600 27,140 Redeemable Convertible Preferred Stock In connection with entering into the Merger Agreement, II-VI entered into an Amended and Restated Investment Agreement, dated as of March 30, 2021 (the “Investment Agreement”), with BCPE Watson (DE) SPV, LP, an affiliate of Bain Capital Private Equity, LP (the “Investor”). Pursuant to the terms of the Investment Agreement, on March 31, 2021, II-VI issued, sold, and delivered to the Investor 75,000 shares of a new Series B-1 Convertible Preferred Stock of the Company, no par value per share (“II-VI Series B-1 Convertible Preferred Stock”), for $10,000 per share (the “Equity Per Share Price”), resulting in an aggregate purchase price of $750 million. The shares of II-VI Series B-1 Convertible Preferred Stock accrue dividends at 5.00% per annum, subject to increase if II-VI defaults on payment obligations with respect to the New II-VI Convertible Preferred Stock, not to exceed 14% per annum. Until the fourth anniversary of March 31, 2021 (the “Initial Issue Date”), dividends are payable solely in-kind. After the fourth anniversary of the Initial Issue Date, dividends are payable on the applicable series, at the Company’s option, in cash, in-kind, or as a combination of both. The shares of II-VI Series B-1 Convertible Preferred Stock are convertible into shares of II-VI Common Stock as follows: • at the election of the holder, at a conversion price of $85.00 per share (“Conversion Price”), after the earliest to occur of (i) the issuance of shares of II-VI Series B-2 Convertible Preferred Stock upon the closing of the Coherent acquistion, (ii) the termination of the Merger Agreement or (iii) the delivery by II-VI to the Investor of an offer to repurchase the II-VI Series B-1 Convertible Preferred Stock upon the occurrence of a Fundamental Change (as defined in the Statement); and • at the election of the Company, any time following March 31, 2024, at the then-applicable Conversion Price if the volume-weighted average price of II-VI Common Stock exceeds 150% of the then-applicable Conversion Price for 20 trading days out of any 30 consecutive trading days. The issued shares of II-VI Series B-1 Convertible Preferred Stock have voting rights, voting as one class with the II-VI Common Stock, on an as-converted basis, subject to limited exceptions. On or at any time after March 31, 2031: • each holder has the right to require the Company to redeem all of their II-VI Series B-1 Convertible Preferred Stock, for cash, at a redemption price per share equal to the sum of the Stated Value for such shares (as defined in the Statement) plus an amount equal to all accrued or declared and unpaid dividends on such shares that had not previously been added to the Stated Value (such price the “Redemption Price,” and such right the “Put Right”), and • the Company has the right to redeem, in whole or in part, on a pro rata basis from all holders based on the aggregate number of shares of II-VI Series B-1 Convertible Preferred Stock outstanding, for cash, at the Redemption Price. In connection with any Fundamental Change, and subject to the procedures set forth in the Statement with Respect to Shares establishing the new II-VI Convertible Preferred Stock, the Company must, or will cause the survivor of a Fundamental Change to, make an offer to repurchase, at the option and election of the holder thereof, each share of II-VI Series B-1 Convertible Preferred Stock then outstanding (the “Fundamental Change Repurchase Offer”) at a purchase price per share in cash equal to (i) the Stated Value for such shares plus an amount equal to all accrued or declared and unpaid dividends on such shares that had not previously been added to the Stated Value as of the date of repurchase plus (ii) if prior to March 31, 2026, the aggregate amount of all dividends that would have been paid (subject to certain exceptions), from the date of repurchase through March 31, 2026. If the Company defaults on a payment obligation with respect to the II-VI Series B-1 Convertible Preferred Stock and such default is not cured within 30 days, the dividend rate will increase to 8% per annum and will be increased by an additional 2% per annum each quarter the Company remains in default, not to exceed 14% per annum. The II-VI Series B-1 Convertible Preferred Stock is redeemable for cash outside of the control of the Company upon the exercise of the Put Right, and upon a Fundamental Change, and is therefore classified as mezzanine equity. The II-VI Series B-1 Convertible Preferred Stock is initially measured at fair value less issuance costs, accreted to its redemption value over a 10-year period (using the effective interest method) with such accretion accounted for as deemed dividends and reductions to Net Earnings (Loss) available to Common Shareholders. The Company recognized $41 million of preferred stock dividends during the fiscal year ended June 30, 2022, which were presented as a reduction to retained earnings on the Consolidated Balance Sheets as of June 30, 2022. The following table presents dividends per share and dividends recognized for the years ended June 30, 2022, and June 30, 2021: Year Ended June 30, 2022 Year Ended June 30, 2021 Dividends per share 541.66 134.55 Dividends ($000) 38,598 9,583 Deemed dividends ($000) 2,027 508 Subject to the terms and conditions of the Investment Agreement, among other things, the Company and the Investor also agreed that the Company would issue, sell and deliver to the Investor: • 105,000 shares of a new Series B-2 Convertible Preferred Stock of the Company, no par value per share (“II-VI Series B-2 Convertible Preferred Stock,” and together with the II-VI Series B-1 Convertible Preferred Stock, “New II-VI Convertible Preferred Stock”), for a purchase price per share equal to the Equity Per Share Price, resulting in an aggregate purchase price of $1.05 billion, immediately prior to closing of the Coherent acquisition; and • immediately prior to the closing of the Coherent acquisition, if elected by the Company and agreed by the Investor, up to an additional 35,000 shares of II-VI Series B-2 Convertible Preferred Stock (the “Upsize Shares”) for a purchase price per share equal to the Equity Per Share Price, resulting in an aggregate maximum purchase price for the Upsize Shares of $350 million. Following the Company’s provision of notice to the Investor of its election to offer the Upsize Shares, the Investor informed the Company on June 8, 2021, of its agreement to purchase the Upsize Shares from the Company immediately prior to the closing of the Coherent acquisition, increasing the Investor’s total equity commitment to II-VI pursuant to the Investment Agreement to $2.15 billion. On July 1, 2022, II-VI issued and sold 140,000 shares of II-VI Series B-2 Convertible Preferred Stock, for $10,000 per share and an aggregate purchase price of $1.4 billion.

Earnings Per Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings (loss) per common share is computed by dividing net earnings (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. The diluted earnings (loss) per common share is computed by dividing the diluted earnings (loss) available to common shareholders by the weighted-average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period. The dilutive effect of equity awards is calculated based on the average stock price for each fiscal period, using the treasury stock method. For the fiscal years ended June 30, 2022 and June 30, 2021, diluted shares outstanding include the dilutive effect of the potential shares of the Company's common stock issuable from stock options, performance and restricted shares. For the fiscal year ended June 30, 2022 and June 30, 2021, the diluted shares outstanding also include the dilutive effect of the potential shares of the Company's common stock issuable upon conversion of outstanding convertible debt. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share computations for the periods presented ($000): Year Ended June 30, 2022 2021 2020 ($000 except per share) Numerator Net earnings (loss) $ 234,759 $ 297,552 $ (67,029) Deduct Series A preferred stock dividends (27,600) (27,140) — Deduct Series B dividends and deemed dividends (40,625) (10,091) — Basic earnings (loss) available to common shareholders $ 166,534 $ 260,321 $ (67,029) Effect of dilutive securities: Add back interest on II-VI Convertible Notes (net of tax) $ 2,229 $ 12,264 $ — Diluted earnings (loss) available to common shareholders $ 168,763 $ 272,585 $ (67,029) Denominator Weighted average shares 106,189 104,151 84,828 Effect of dilutive securities Common stock equivalents 3,012 3,552 — II-VI Convertible Notes 7,312 7,331 — Diluted weighted average common shares 116,513 115,034 84,828 Basic earnings (loss) per common share $ 1.57 $ 2.50 $ (0.79) Diluted earnings (loss) per common share $ 1.45 $ 2.37 $ (0.79) The following table presents potential shares of common stock excluded from the calculation of diluted net earnings (loss) per share, as their effect would have been antidilutive (in thousands of shares): Year Ended June 30, 2022 2021 2020 Series A Mandatory Convertible Preferred Stock 8,915 8,915 — Series B Redeemable Preferred Stock 9,162 2,230 — II-VI Convertible Notes due 2022 — — 7,331 Common stock equivalents 9,611 118 2,345 Total anti-dilutive shares 27,688 11,263 9,676

Leases

Leases	12 Months Ended
Leases	Jun. 30, 2022
Leases [Abstract]
Leases	Leases We determine if an arrangement is a lease at inception for arrangements with an initial term of more than 12 months, and classify it as either finance or operating. Finance leases are generally those that allow us to substantially utilize or pay for the entire asset over its estimated useful life. Finance leases assets are recorded in property, plant and equipment, net, and finance lease liabilities within other accrued liabilities and other liabilities on our Consolidated Balance Sheets. Finance lease assets are amortized in operating expenses on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease term, with the interest component for lease liabilities included in interest expense and recognized using the effective interest method over the lease term. Operating leases are recorded in other assets and operating lease liabilities, current and non-current on the Company’s Consolidated Balance Sheets. Operating lease assets are amortized on a straight-line basis in operating expenses over the lease term. The Company’s lease liabilities are recognized based on the present value of the remaining fixed lease payments, over the lease term, using a discount rate of similarly secured borrowings available to the Company. For the purpose of lease liability measurement, we consider only payments that are fixed and determinable at the time of commencement. Any variable payments that depend on an index or rate are expensed as incurred. We account for non-lease components, such as common area maintenance, as a component of the lease, and include it in the initial measurement of our lease assets and corresponding liabilities. The Company’s lease terms and conditions may include options to extend or terminate. An option is recognized when it is reasonably certain that we will exercise that option. The Company’s lease assets also include any lease payments made and exclude any lease incentives received prior to commencement. Our lease assets are tested for impairment in the same manner as long-lived assets used in operations. The following table presents lease costs, which include leases for arrangements with an initial term of more than 12 months, lease term, and discount rates ($000): Year Ended Year Ended Year Ended Finance Lease Cost Amortization of right-of-use assets $ 1,671 $ 1,667 $ 1,667 Interest on lease liabilities 1,200 1,268 1,328 Total finance lease cost 2,871 2,935 2,995 Operating lease cost 36,716 37,361 32,466 Sublease income 507 1,471 368 Total lease cost $ 39,080 $ 38,825 $ 35,093 Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from finance leases 1,200 1,268 1,328 Operating cash flows from operating leases 35,481 35,641 30,816 Financing cash flows from finance leases 1,290 1,152 1,026 Assets Obtained in Exchange for Lease Liabilities Right-of-use assets obtained in acquisitions — 13,391 29,247 Right-of-use assets obtained in exchange for new operating lease liabilities 18,161 52,839 29,458 Total assets obtained in exchange for new operating lease liabilities 18,161 66,230 58,705 Weighted-Average Remaining Lease Term (in Years) Finance leases 9.5 10.5 11.5 Operating leases 6.6 7.0 7.2 Weighted-Average Discount Rate Finance leases 5.6 % 5.6 % 5.6 % Operating leases 5.7 % 6.1 % 7.3 % The following table presents future minimum lease payments, which includes leases for arrangements with an initial term of more than 12 months ($000): Future Years Operating Leases Finance Leases Total Year 1 $ 34,062 $ 2,554 $ 36,616 Year 2 29,923 2,624 32,547 Year 3 24,830 2,697 27,527 Year 4 19,816 2,771 22,587 Year 5 15,532 2,847 18,379 Thereafter 47,284 13,801 61,085 Total minimum lease payments $ 171,447 $ 27,294 $ 198,741 Less: amounts representing interest 33,659 6,284 39,943 Present value of total lease liabilities $ 137,788 $ 21,010 $ 158,798 From time-to-time, the Company enters into commercial agreements with our customers that include advance payments from our customers, the cash flow from which the Company uses to fund our capital expansion. The Company determines at the inception or modification of the contract if the arrangement is, or contains, a lease, which exists when the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. In determining if a contract contains a lease, the Company evaluates whether the contract, either explicitly or implicitly, is for the use of an identified asset and whether the customer has the right to direct the use of, and obtain substantially all of the economic benefit from, the identified asset. The Company entered into a commercial agreement with one of our customers to produce certain engineered materials products within the Compound Semiconductors segment. We received payments of $23 million and $8 million during the years ended June 30, 2022 and 2021, respectively, which the Company used to partially fund the purchase of plant and equipment, which is recorded as a contract liability. See Note 4. Revenue from Contracts with Customers. We determined the contractual rights and obligations in the commercial agreement provide us with the substantive right to substitute alternative assets throughout the period of use and therefore the commercial agreement does not contain a lease under ASC 842.
Leases	Leases We determine if an arrangement is a lease at inception for arrangements with an initial term of more than 12 months, and classify it as either finance or operating. Finance leases are generally those that allow us to substantially utilize or pay for the entire asset over its estimated useful life. Finance leases assets are recorded in property, plant and equipment, net, and finance lease liabilities within other accrued liabilities and other liabilities on our Consolidated Balance Sheets. Finance lease assets are amortized in operating expenses on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease term, with the interest component for lease liabilities included in interest expense and recognized using the effective interest method over the lease term. Operating leases are recorded in other assets and operating lease liabilities, current and non-current on the Company’s Consolidated Balance Sheets. Operating lease assets are amortized on a straight-line basis in operating expenses over the lease term. The Company’s lease liabilities are recognized based on the present value of the remaining fixed lease payments, over the lease term, using a discount rate of similarly secured borrowings available to the Company. For the purpose of lease liability measurement, we consider only payments that are fixed and determinable at the time of commencement. Any variable payments that depend on an index or rate are expensed as incurred. We account for non-lease components, such as common area maintenance, as a component of the lease, and include it in the initial measurement of our lease assets and corresponding liabilities. The Company’s lease terms and conditions may include options to extend or terminate. An option is recognized when it is reasonably certain that we will exercise that option. The Company’s lease assets also include any lease payments made and exclude any lease incentives received prior to commencement. Our lease assets are tested for impairment in the same manner as long-lived assets used in operations. The following table presents lease costs, which include leases for arrangements with an initial term of more than 12 months, lease term, and discount rates ($000): Year Ended Year Ended Year Ended Finance Lease Cost Amortization of right-of-use assets $ 1,671 $ 1,667 $ 1,667 Interest on lease liabilities 1,200 1,268 1,328 Total finance lease cost 2,871 2,935 2,995 Operating lease cost 36,716 37,361 32,466 Sublease income 507 1,471 368 Total lease cost $ 39,080 $ 38,825 $ 35,093 Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from finance leases 1,200 1,268 1,328 Operating cash flows from operating leases 35,481 35,641 30,816 Financing cash flows from finance leases 1,290 1,152 1,026 Assets Obtained in Exchange for Lease Liabilities Right-of-use assets obtained in acquisitions — 13,391 29,247 Right-of-use assets obtained in exchange for new operating lease liabilities 18,161 52,839 29,458 Total assets obtained in exchange for new operating lease liabilities 18,161 66,230 58,705 Weighted-Average Remaining Lease Term (in Years) Finance leases 9.5 10.5 11.5 Operating leases 6.6 7.0 7.2 Weighted-Average Discount Rate Finance leases 5.6 % 5.6 % 5.6 % Operating leases 5.7 % 6.1 % 7.3 % The following table presents future minimum lease payments, which includes leases for arrangements with an initial term of more than 12 months ($000): Future Years Operating Leases Finance Leases Total Year 1 $ 34,062 $ 2,554 $ 36,616 Year 2 29,923 2,624 32,547 Year 3 24,830 2,697 27,527 Year 4 19,816 2,771 22,587 Year 5 15,532 2,847 18,379 Thereafter 47,284 13,801 61,085 Total minimum lease payments $ 171,447 $ 27,294 $ 198,741 Less: amounts representing interest 33,659 6,284 39,943 Present value of total lease liabilities $ 137,788 $ 21,010 $ 158,798 From time-to-time, the Company enters into commercial agreements with our customers that include advance payments from our customers, the cash flow from which the Company uses to fund our capital expansion. The Company determines at the inception or modification of the contract if the arrangement is, or contains, a lease, which exists when the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. In determining if a contract contains a lease, the Company evaluates whether the contract, either explicitly or implicitly, is for the use of an identified asset and whether the customer has the right to direct the use of, and obtain substantially all of the economic benefit from, the identified asset. The Company entered into a commercial agreement with one of our customers to produce certain engineered materials products within the Compound Semiconductors segment. We received payments of $23 million and $8 million during the years ended June 30, 2022 and 2021, respectively, which the Company used to partially fund the purchase of plant and equipment, which is recorded as a contract liability. See Note 4. Revenue from Contracts with Customers. We determined the contractual rights and obligations in the commercial agreement provide us with the substantive right to substitute alternative assets throughout the period of use and therefore the commercial agreement does not contain a lease under ASC 842.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
Share-Based Compensation	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Shared-Based Compensation	Share-Based Compensation The Company’s Board of Directors amended the II-VI Incorporated 2018 Omnibus Incentive Plan, which was approved by the shareholders at the Annual Meeting in November 2018. The Amended Omnibus Plan (the “Plan”) was approved at the annual meeting in November 2020. The Plan provides for the grant of non-qualified stock options, stock appreciation rights, restricted shares, restricted share units, deferred shares, performance shares and performance share units to employees, officers and directors of the Company. The maximum number of shares of the Company’s common stock authorized for issuance under the Plan is limited to 9,550,000 shares of common stock, not including any remaining shares forfeited under the predecessor plans that may be rolled into the Plan. The Plan has vesting provisions predicated upon the death, retirement or disability of the grantee. As of June 30, 2022, there were approximately 7 million shares available to be issued under the Plan, including forfeited shares from predecessor plans. The Company records share-based compensation expense for these awards, which requires the recognition of the grant-date fair value of share-based compensation in net earnings. The Company recognizes the share-based compensation expense over the requisite service period of the individual grantees, which generally equals the vesting period. The Company accounts for cash-based stock appreciation rights, cash-based restricted share units and cash-based performance share units as liability awards, in accordance with U.S. GAAP. Share-based compensation expense for the fiscal years ended June 30, 2022, 2021 and 2020 is as follows $000: Year Ended June 30, 2022 2021 2020 Stock Options and Cash-Based Stock $ 3,218 $ 10,626 $ 11,893 Restricted Share Awards, Restricted Share 56,365 47,060 49,957 Performance Share Units and Cash 10,077 16,640 11,977 $ 69,660 $ 74,326 $ 73,827 Stock Options and Cash-Based Stock Appreciation Rights: The Company utilized the Black-Scholes valuation model for estimating the fair value of stock options and cash-based stock appreciation rights. During the fiscal years ended June 30, 2022 and June 30, 2021, no stock options were issued. During fiscal year ended June 30, 2020, the weighted-average fair value of options granted under the Plan was $14.79 per option, using the following assumptions: Year Ended June 30, 2020 Risk-free interest rate 1.50 % Expected volatility 39 % Expected life of options 6.91 years Dividend yield None The risk-free interest rate is derived from the average U.S. Treasury Note rate during the period, which approximates the rate in effect at the time of grant related to the expected life of the options. The risk-free interest rate shown above is the weighted average rate for all options granted during the fiscal year. Expected volatility is based on the historical volatility of the Company’s common stock over the period commensurate with the expected life of the options. The expected life calculation is based on the observed time to post-vesting exercise and/or forfeitures of options by our employees. The dividend yield of zero is based on the fact that the Company has never paid cash dividends and has no current intention to pay cash dividends in the future. Stock option and cash-based stock appreciation rights activity during the fiscal year ended June 30, 2022 was as follows: Stock Options Cash-Based Stock Appreciation Rights Number of Weighted Average Number of Weighted Average Outstanding - July 1, 2021 2,642,634 $ 29.26 145,334 $ 33.80 Exercised (188,015) $ 26.78 (14,054) $ 37.00 Forfeited and Expired (21,729) $ 30.78 (3,718) $ 35.80 Outstanding - June 30, 2022 2,432,890 $ 29.41 127,562 $ 33.39 Exercisable - June 30, 2022 1,990,721 $ 27.61 86,211 $ 30.86 As of June 30, 2022, 2021 and 2020, the aggregate intrinsic value of stock options and cash-based stock appreciation rights outstanding and exercisable was $48 million, $88 million and $80 million, respectively. Aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the year ended June 30, and the option’s exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on June 30, 2022. This amount varies based on the fair market value of the Company’s stock. The total intrinsic value of stock options and cash-based stock appreciation rights exercised during the fiscal years ended June 30, 2022, 2021, and 2020 was $8 million, $49 million, and $20 million, respectively. As of June 30, 2022, total unrecognized compensation cost related to non-vested stock options and cash-based stock appreciation rights was $3 million. This cost is expected to be recognized over a weighted-average period of approximately 1 year. Outstanding and exercisable stock options at June 30, 2022 were as follows: Stock Options and Cash-Based Stock Stock Options and Cash-Based Stock Number of Weighted Weighted Number of Weighted Weighted Range of Shares or Contractual Term Exercise Shares or Contractual Term Exercise Exercise Prices Rights (Years) Price Rights (Years) Price $13.34 - $18.07 549,192 2.62 $ 16.14 549,192 2.62 $ 16.14 $18.07 - $24.35 596,310 3.23 $ 20.96 590,046 3.19 $ 20.87 $24.35 - $35.39 490,512 5.72 $ 33.29 401,104 5.33 $ 34.10 $35.39 - $36.90 541,065 7.19 $ 36.46 254,550 7.14 $ 36.45 $36.90 - $49.90 383,373 6.08 $ 47.94 282,040 6.02 $ 47.85 2,560,452 4.84 $ 29.60 2,076,932 4.32 $ 27.74 Restricted Share Awards, Restricted Share Units, and Cash-Based Restricted Share Units: Restricted share awards, restricted share units, and cash-based restricted share units compensation expense was calculated based on the number of shares or units expected to be earned by the grantee multiplied by the stock price at the date of grant (for restricted share awards and restricted share units) or the stock price at the period end date (for cash-based restricted share units), and is being recognized over the vesting period. Generally, the restricted share awards, restricted share units, and cash-based restricted share units have a three Restricted share unit, and cash-based restricted share unit activity during the fiscal year ended June 30, 2022, was as follows: Restricted Share Units Cash-Based Restricted Share Units Number of Weighted Average Number of Weighted Average Nonvested - July 1, 2021 2,326,172 $ 43.67 45,873 $ 38.75 Granted 849,467 $ 63.63 3,538 $ 63.60 Vested (1,117,600) $ 40.67 (26,589) $ 40.48 Forfeited (159,861) $ 44.87 (2,344) $ 45.29 Nonvested - June 30, 2022 1,898,178 $ 54.24 20,478 $ 40.05 As of June 30, 2022, total unrecognized compensation cost related to non-vested, restricted share unit and cash-based restricted share units was $58 million. This cost is expected to be recognized over a weighted-average period of approximately two years. The restricted share unit compensation expense was calculated based on the number of shares expected to be earned, multiplied by the stock price at the date of grant, and is being recognized over the vesting period. The cash-based restricted share unit compensation expense was calculated based on the number of units expected to be earned, multiplied by the stock price at the period-end date, and is being recognized over the vesting period. The total fair value of the restricted share awards, restricted share units, and cash-based restricted share units granted during the years ended June 30, 2022, 2021 and 2020, was $54 million, $59 million and $11 million, respectively. The total fair value of restricted share awards, restricted share units and cash-based restricted share units vested was $67 million, $69 million and $75 million during fiscal years 2022, 2021 and 2020, respectively. Performance Share Units and Cash-Based Performance Share Units: The Compensation Committee of the Board of Directors of the Company has granted certain executive officers and employees performance share units and cash-based performance share units under the Plan. As of June 30, 2022, the Company had outstanding grants covering performance periods ranging from 12 to 36 months. These grants are intended to provide continuing emphasis on specified financial performance goals that the Company considers important contributors to the creation of long-term shareholder value. These grants are payable only if the Company achieves specified levels of financial performance during the performance periods. For our relative Total Shareholder Return (“TSR”) performance-based units, which are based on market performance of our stock as compared to the S&P Composite 1500 – Electronic Equipment, Instruments & Components Index, the compensation cost is recognized over the performance period on a straight-line basis, because the grants vest only at the end of the measurement period and the probability of actual shares expected to be earned is considered in the grant date valuation. As a result, the expense is not adjusted to reflect the actual shares earned. We estimate the fair value of the TSR performance-based units using the Monte-Carlo simulation model. The performance share unit compensation expense was calculated based on the number of shares expected to be earned, multiplied by the stock price at the date of grant, and is being recognized over the vesting period. The cash-based performance share unit compensation expense was calculated based on the number of units expected to be earned, multiplied by the stock price at the period-end date, and is being recognized over the vesting period. Performance share unit and cash-based performance share unit activity relating to the Plan during the year ended June 30, 2022, was as follows: Performance Share Units Cash-Based Performance Share Units Number of Weighted Average Number of Weighted Average Nonvested - July 1, 2021 518,309 $ 45.28 27,724 $ 39.43 Granted 167,764 $ 83.03 — $ — Vested (200,611) $ 62.69 (23,514) $ 49.90 Forfeited (16,407) $ 53.49 — $ — Performance Adjustments 122,530 $ — 13,914 $ 49.90 Nonvested - June 30, 2022 591,585 $ 40.48 18,124 $ 33.88 As of June 30, 2022, total unrecognized compensation cost related to non-vested performance share units and cash-based performance share units was $10 million. This cost is expected to be recognized over a weighted-average period of approximately 1.75 years. The total fair value of the performance share units and cash-based performance share units granted during the fiscal years ended June 30, 2022, 2021 and 2020 was $14 million, $14 million and $15 million, respectively. The total fair value of performance share units and cash-based performance share units vested during the fiscal years ended June 30, 2022, 2021 and 2020 was $11 million, $9 million and $6 million, respectively. The performance adjustments relate to grants that exceeded the performance targets when vested during FY22, including the final number of shares issued, which were 200% of the target units based on actual results during the three

Segment and Geographic Reportin

Segment and Geographic Reporting	12 Months Ended
Segment and Geographic Reporting	Jun. 30, 2022
Segment Reporting [Abstract]
Segment and Geographic Reporting	Segment and Geographic Reporting The Company reports its business segments using the “management approach” model for segment reporting. This means that the Company determines its reportable business segments based on the way the chief operating decision maker organizes business segments within the Company for making operating decisions and assessing performance. The Company reports its financial results in two segments, and the Company’s chief operating decision maker receives and reviews financial information based on these segments. The Company evaluates business segment performance based upon segment operating income, which is defined as earnings before income taxes, interest and other income or expense. The Compound Semiconductors segment has locations in the United States, Singapore, China, Germany, Switzerland, Japan, Belgium, the United Kingdom, Italy, South Korea, the Philippines, Vietnam, Sweden, and Taiwan. This segment address all of II-VI's seven end markets, namely: communications, industrial, aerospace & defense, consumer electronics, semiconductor capital equipment, life sciences and automotive. This segment designs, manufactures and markets the following products: (i) optical and electro-optical components and materials used primarily in CO 2 lasers, fiber-lasers and direct diode lasers for materials processing applications; (ii) infrared optical components and high-precision optical assemblies for aerospace and defense, medical and commercial laser imaging applications; (iii) semiconductor lasers and detectors for optical interconnects and sensing applications; (iv) engineered materials for thermoelectric, ceramics and silicon carbide for a wide range of applications; and (v) compound semiconductor epitaxial wafers for applications in optical and wireless communication. The Photonic Solutions segment has locations in the United States, China, Vietnam, Germany, Japan, the United Kingdom, Italy, Malaysia, Australia, and Hong Kong. This segment manufactures (i) transceivers for data centers and telecom optical networks; (ii) pump lasers, optical amplifiers, wavelength selective switches and advanced components for telecom networks; (iii) crystal materials, optics, lasers and optoelectronic modules for a wide range of applications, including in optical communications, life sciences, and consumer electronics markets. The accounting policies are consistent across both of the segments. To the extent possible, the Company’s corporate expenses are allocated to the segments. The Company evaluates segment performance based upon reported segment operating income, which is defined as earnings from continuing operations before income taxes, interest and other income or expense. Unallocated and Other include eliminating inter-segment sales and transfers as well as transaction costs related to the Coherent acquisition in the fiscal years ended June 30, 2022 and June 30, 2021. In the fiscal year ended June 30, 2020, it included transaction costs related to the Finisar acquisition. The following tables summarize selected financial information of the Company’s operations by segment: Photonic Solutions Compound Semiconductors Unallocated Total ($000) 2022 Revenues $ 2,226,196 $ 1,090,420 $ — $ 3,316,616 Inter-segment revenues 36,898 329,342 (366,240) — Operating income (loss) 230,094 220,070 (35,870) 414,294 Interest expense — — — (121,254) Other income, net — — — (11,233) Income taxes — — — (47,048) Net earnings — — — 234,759 Depreciation and amortization 172,851 113,928 — 286,779 Expenditures for property, plant & equipment 89,818 224,514 — 314,332 Segment assets 4,875,053 2,969,793 — 7,844,846 Goodwill 1,048,743 237,016 — 1,285,759 Photonic Solutions Compound Semiconductors Unallocated Total ($000) 2021 Revenues $ 2,038,284 $ 1,067,607 $ — $ 3,105,891 Inter-segment revenues 35,358 244,407 (279,765) — Operating income (loss) 207,652 221,239 (26,772) 402,119 Interest expense — — — (59,899) Other income, net — — — 10,370 Income taxes — — — (55,038) Net loss — — — 297,552 Depreciation and amortization 161,208 108,861 — 270,069 Expenditures for property, plant & equipment 87,304 59,033 — 146,337 Segment assets 4,231,289 2,281,361 — 6,512,650 Goodwill 1,053,028 243,699 — 1,296,727 Photonic Solutions Compound Semiconductors Unallocated Total ($000) 2020 Revenues $ 1,536,790 $ 821,230 $ 22,051 $ 2,380,071 Inter-segment revenues 31,515 164,884 (196,399) — Operating income 49,930 62,279 (72,730) 39,479 Interest expense — — — (89,409) Other income, net — — — (13,998) Income taxes — — — (3,101) Net earnings — — — (67,029) Depreciation and amortization 112,203 104,936 3,743 220,882 Expenditures for property, plant & equipment 45,795 88,318 2,764 136,877 Segment Assets 3,502,467 1,732,247 — 5,234,714 Goodwill 1,052,494 186,515 — 1,239,009 Geographic information for revenues by location of the customer's headquarters, were as follows: Revenues Year Ended June 30, 2022 2021 2020 ($000) North America $ 1,771,385 $ 1,560,254 $ 1,085,146 Europe 623,157 567,703 437,908 China 614,393 680,479 483,393 Japan 196,512 203,655 183,587 Rest of World 111,169 93,800 190,038 Total $ 3,316,616 $ 3,105,891 $ 2,380,071 Geographic information for long-lived assets by country, which include property, plant and equipment, net of related depreciation, and certain other long-term assets, were as follows: Long-Lived Assets June 30, 2022 2021 ($000) United States $ 902,163 $ 737,151 Non-United States China 394,056 402,987 United Kingdom 63,898 60,090 Malaysia 64,807 53,187 Switzerland 40,540 37,121 Sweden 28,030 27,374 Germany 14,521 16,703 Australia 10,478 13,627 Vietnam 16,844 10,246 Philippines 7,375 7,890 Taiwan 7,025 6,532 Korea 4,325 4,595 Hong Kong 1,645 2,104 Other 2,350 1,916 Total Non-United States $ 655,894 $ 644,372 $ 1,558,057 $ 1,381,523

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Jun. 30, 2022
Business Combinations [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The FASB defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous markets for the asset and liability in an orderly transaction between market participants at the measurement date. The Company estimates fair value of its financial instruments utilizing an established three-level hierarchy in accordance with U.S. GAAP. The hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date as follows: • Level 1 – Valuation is based upon unadjusted quoted prices for identical assets or liabilities in active markets. • Level 2 – Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instruments. • Level 3 – Valuation is based upon other unobservable inputs that are significant to the fair value measurements. The classification of fair value measurements within the hierarchy is based upon the lowest level of input that is significant to the measurement. The Company entered into an interest rate swap with a notional amount of $1,075 million to limit the exposure to its variable interest rate debt by effectively converting it to a fixed interest rate. The Company receives payments based on the one-month LIBOR and makes payments based on a fixed rate of 1.52%. The Company receives payments with a floor of 0.00%. The interest rate swap agreement has an effective date of November 24, 2019, with an expiration date of September 24, 2024. The initial notional amount of the interest rate swap decreased to $825 million in June 2022 and will remain at that amount through the expiration date. The Company designated this instrument as a cash flow hedge and deemed the hedge relationship effective at inception of the contract. The fair value of the interest rate swap of $27 million is recognized in the Consolidated Balance Sheets within prepaid and other current assets and other assets as of June 30, 2022. Changes in fair value are recorded within accumulated other comprehensive income (loss) on the Consolidated Balance Sheets and reclassified into the Consolidated Statements of Earnings (Loss) as interest expense in the period in which the underlying transaction affects earnings. Cash flows from hedging activities are reported in the Consolidated Statements of Cash Flows in the same classification as the hedged item, generally as a component of cash flows from operations. The fair value of the interest rate swap is determined using widely accepted valuation techniques and reflects the contractual terms of the interest rate swap including the period to maturity, and while there are no quoted prices in active markets, it uses observable market-based inputs, including interest rate curves. The fair value analysis also considers a credit valuation adjustment to reflect nonperformance risk of both the Company and the single counterparty. The interest rate swap is classified as a Level 2 item within the fair value hierarchy. On February 23, 2022, the Company entered into an interest rate cap ("the Cap") with an effective date of July 1, 2023. The Cap manages the Company's exposure to interest rate movements on a portion of the Company's floating rate debt. The Cap provides the Company with the right to receive payment if one-month LIBOR exceeds 1.85%. Beginning in July 2023, the Company will begin to pay a fixed monthly premium based on an annual rate of 0.853% for the Cap. The Cap will carry a notional amount ranging from $500 million to $1,500 million. The fair value of the interest rate cap of $18 million is recognized in the Consolidated Balance Sheets within other assets as of June 30, 2022. The Cap is designed to mirror the terms of the Company's Credit Agreement as of the effective date, or its direct replacement. The Company designated the Cap as a cash flow hedge of the variability of the LIBOR-based interest payments on the Term Loans. Every period over the life of the hedging relationship, the entire change in fair value related to the hedging instrument will first be recorded within accumulated other comprehensive income (loss). Amounts accumulated in accumulated other comprehensive income (loss) will be reclassified into interest expense in the same period or periods in which interest expense is recognized on the Credit Agreement, or its direct replacement. The fair value of the Cap is determined using widely accepted valuation techniques and reflects the contractual terms of the Cap including the period to maturity, and while there are no quoted prices in active markets, it uses observable market-based inputs, including interest rate curves. The fair value analysis also considers a credit valuation adjustment to reflect nonperformance risk of both the Company and the single counterparty. The Cap is classified as a Level 2 item within the fair value hierarchy. The Company estimated the fair value of the II-VI Convertible Notes based on quoted market prices as of the last trading day prior to June 30, 2022; however, the II-VI Convertible Notes have only a limited trading volume and as such this fair value estimate is not necessarily the value at which the II-VI Convertible Notes could be retired or transferred. The Company concluded that this fair value measurement should be categorized within Level 2. The carrying value of the II-VI Convertible Notes is net of unamortized discount and issuance costs. See Note 8. Debt for details on the Company’s debt facilities. The Company estimated the fair value of the Senior Notes based on quoted market prices as of the last trading day prior to June 30, 2022; however, the Senior Notes have only a limited trading volume and as such this fair value estimate is not necessarily the value at which the Senior Notes could be retired or transferred. The Company concluded that this fair value measurement should be categorized within Level 2. The carrying value of the Senior Notes is net of unamortized discount and issuance costs. See Note 8. Debt for details on the Company’s debt facilities. The fair value and carrying value of the II-VI Convertible Notes and Senior Notes were as follows at June 30, 2022 ($000): Fair Value Carrying Value II-VI Convertible Notes $ 382,601 $ 341,162 Senior Notes $ 865,527 $ 982,297 The fair values of cash and cash equivalents are considered Level 1 among the fair value hierarchy and approximate fair value because of the short-term maturity of those instruments. The Company’s borrowings including its lease obligations and the Senior Notes, excluding the II-VI Convertible Notes are considered Level 2 among the fair value hierarchy and their principal amounts approximate fair value. The Company, from time to time, purchases foreign currency forward exchange contracts, that permit it to sell specified amounts of these foreign currencies expected to be received from its export sales, for pre-established U.S. dollar amounts at specified dates. These contracts are entered into to limit transactional exposure to changes in currency exchange rates of export sales transactions in which settlement will occur in future periods and which otherwise would expose the Company, on the basis of its aggregate net cash flows in respective currencies, to foreign currency risk. At June 30, 2022, the Company had foreign currency forward contracts recorded at fair value. The fair values of these instruments were measured using valuations based upon quoted prices for similar assets and liabilities in active markets (Level 2) and are valued by reference to similar financial instruments, adjusted for credit risk and restrictions and other terms specific to the contracts. Realized losses related to these contracts for the year ended June 30, 2022 were $27 million, and were included in other expense (income), net in the Consolidated Statements of Earnings (Loss). For the years ended June 30, 2021

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Jun. 30, 2022
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Eligible U.S. employees of the Company participate in a profit sharing retirement plan. Contributions accrued for the plan are made at the discretion of the Company’s board of directors and were $2 million, $2 million, and $6 million for the years ended June 30, 2022, 2021 and 2020, respectively. Switzerland Defined Benefit Plan The Company maintains a pension plan covering employees of our Swiss subsidiary (the “Swiss Plan”). Employer and employee contributions are made to the Swiss Plan based on various percentages of salary and wages that vary according to employee age and other factors. Employer contributions to the Swiss Plan for years ended June 30, 2022 and 2021 were $2 million and $4 million, respectively. Net periodic pension cost is not material for any year presented. The underfunded pension liability was $4 million and $25 million as of June 30, 2022 and 2021, respectively. The pension adjustment amount recognized in accumulated other comprehensive income (loss) was a $16 million increase and a $2 million increase for the fiscal years ended June 30, 2022 and 2021, respectively. The accumulated benefit obligation was $81 million as of June 30, 2022, compared to $90 million as of June 30, 2021. Estimated future benefit payments under the Swiss Plan are estimated to be as follows: Year Ending June 30, ($000) 2023 $ 6,700 2024 5,300 2025 6,700 2026 8,900 2027 4,600 Next five years 41,200

Other Accrued Liabilities

Other Accrued Liabilities	12 Months Ended
Other Accrued Liabilities	Jun. 30, 2022
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities The components of other accrued liabilities were as follows: June 30, 2022 2021 ($000) Contract liabilities $ 22,960 $ 13,926 Warranty reserves 17,738 21,868 Accrued interest 38,872 428 Other accrued liabilities 120,260 109,687 $ 199,830 $ 145,909

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company has purchase commitments for materials and supplies as part of the ordinary conduct of business. A portion of the commitments are long-term and are based on minimum purchase requirements. Certain short-term raw material purchase commitments have a variable price component which is based on market pricing at the time of purchase. Due to the proprietary nature of some of the Company’s materials and processes, certain contracts may contain liquidated damage provisions for early termination. The Company does not believe that a significant amount of liquidated damages are reasonably likely to be incurred under these commitments based upon historical experience and current expectations. Total future purchase commitments held by II-VI as of June 30, 2022 were $491 million in fiscal 2023 and $213 million thereafter.

Share Repurchase Programs

Share Repurchase Programs	12 Months Ended
Share Repurchase Programs	Jun. 30, 2022
Equity [Abstract]
Share Repurchase Programs	Share Repurchase Programs In August 2014, the Company’s Board of Directors authorized the Company to purchase up to $50 million of its common stock through a share repurchase program (the “Program”) that calls for shares to be purchased in the open market or in private transactions from time to time. The Program has no expiration and may be suspended or discontinued at any time. Shares purchased by the Company are retained as treasury stock and available for general corporate purposes. The Company did not repurchase any shares pursuant to this Program during the fiscal years ended June 30, 2022 or June 30, 2021.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
Accumulated Other Comprehensive Income (Loss)	Jun. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) (“AOCI”) by component, net of tax, for the years ended June 30, 2022, 2021, and 2020 were as follows ($000): Foreign Interest Interest Defined Total AOCI - June 30, 2019 $ (15,627) $ — $ — $ (8,594) $ (24,221) Other comprehensive loss before reclassifications (15,969) (46,067) — (3,528) (65,564) Amounts reclassified from AOCI — 1,982 — 420 2,402 Net current-period other comprehensive loss (15,969) (44,085) — (3,108) (63,162) AOCI - June 30, 2020 $ (31,596) $ (44,085) $ — $ (11,702) $ (87,383) Other comprehensive income (loss) before reclassifications 86,991 (2,687) — 1,709 86,013 Amounts reclassified from AOCI — 14,999 — 638 15,637 Net current-period other comprehensive income 86,991 12,312 — 2,347 101,650 AOCI - June 30, 2021 $ 55,395 $ (31,773) $ — $ (9,355) $ 14,267 Other comprehensive income (loss) before reclassifications (89,967) 29,711 14,306 15,300 (30,650) Amounts reclassified from AOCI — 13,797 — 419 14,216 Net current-period other comprehensive income (loss) (89,967) 43,508 14,306 15,719 (16,434) AOCI - June 30, 2022 $ (34,572) $ 11,735 $ 14,306 $ 6,364 $ (2,167)

SCHEDULE II

SCHEDULE II	12 Months Ended
SCHEDULE II	Jun. 30, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II	SCHEDULE II II-VI INCORPORATED AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS YEARS ENDED JUNE 30, 2022, 2021, AND 2020 (IN THOUSANDS OF DOLLARS) Balance at Charged Charged Deduction Balance YEAR ENDED JUNE 30, 2022: Allowance for doubtful accounts $ 924 $ 3,292 $ — $ (10) (3) $ 4,206 Warranty reserves $ 21,868 $ 7,718 $ — $ (11,848) $ 17,738 Deferred tax asset valuation allowance $ 53,765 $ 2,157 $ (502) (2) $ — $ 55,420 YEAR ENDED JUNE 30, 2021: Allowance for doubtful accounts $ 1,698 $ 301 $ — $ (1,075) (3) $ 924 Warranty reserves $ 27,620 $ 2,134 $ — $ (7,886) $ 21,868 Deferred tax asset valuation allowance $ 54,559 $ (2,545) $ 1,751 (1) $ — $ 53,765 YEAR ENDED JUNE 30, 2020: Allowance for doubtful accounts $ 1,292 $ 956 $ — $ (550) (3) $ 1,698 Warranty reserves $ 4,478 $ 11,507 $ 37,453 $ (25,818) $ 27,620 Deferred tax asset valuation allowance $ 20,190 $ (2,186) $ 36,555 $ — $ 54,559 (1) Related to amounts assumed from the Finisar acquisition. (2) Primarily related to currency translation adjustments. (3) Primarily relates to write-offs of accounts receivable.

Nature of Business and Summar_2

Nature of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation. The Consolidated Financial Statements include the accounts of the Company. All intercompany transactions and balances have been eliminated.
Estimates	Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Foreign Currency Translation	Foreign Currency Translation. For all foreign subsidiaries whose functional currency is not the U.S. dollar, the functional currency is the local currency. Assets and liabilities of those operations are translated into U.S. dollars using period-end exchange rates while income and expenses are translated using the average exchange rates for the reporting period. Translation adjustments are recorded as accumulated other comprehensive income (loss) within shareholders’ equity in the accompanying Consolidated Balance Sheets.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash. The Company considers highly liquid investment instruments with an original maturity of three months or less to be cash equivalents.
Accounts Receivable	Accounts Receivable. The Company makes estimates evaluating its allowance for doubtful accounts. The Company continuously monitors collections and payments from its customers and maintains a provision for estimated credit losses based upon its historical experience, current market conditions and any specific customer collection issues that it has identified.
Inventories	Inventories. Inventories are valued at the lower of cost or net realizable value, with cost determined on the first-in, first-out basis. Inventory costs include material, labor and manufacturing overhead. In evaluating the net realizable value of inventory, management also considers, if applicable, other factors, including known trends, market conditions, currency exchange rates and other such issues. The Company generally records a reduction to the carrying value of inventory as a charge against earnings for all products on hand more than 12 to 24 months, depending on the nature of the products that have not been sold to customers or cannot be further manufactured for sale to alternative customers. An additional charge may be recorded for product on hand that is in excess of product sold to customers over the same periods noted above.
Property, Plant and Equipment	Property, Plant and Equipment. Property, plant and equipment are carried at cost or fair value upon acquisition. Major improvements are capitalized, while maintenance and repairs are generally expensed as incurred. The Company reviews its property, plant and equipment and other long-lived assets for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable. Depreciation on property, plant and equipment and amortization on finance lease right-of-use assets for financial reporting purposes is computed primarily by the straight-line method over the estimated useful lives for building, building improvements and land improvements of 10 to 20 years and 3 to 20 years for machinery and equipment.
Leases	Leases. Leases are recognized under Accounting Standards Codification 842, Leases. The Company determines whether a contract contains a lease at contract inception. A contract contains a lease if there is an identified asset and the Company has the right to control the asset. Operating lease right-of-use (“ROU”) assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses the incremental borrowing rate in determining the present value of lease payments, unless the implicit rate is readily determinable. If lease terms include options to extend or terminate the lease, the ROU asset and lease liability are measured based on the reasonably certain decision. The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all classes of leased assets for which the Company is the lessee. Additionally, for certain equipment leases, the portfolio approach is applied to account for the operating lease ROU assets and lease liabilities. In the Consolidated Statements of Earnings (Loss), lease expense for operating lease payments is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. Some leasing arrangements require variable payments that are dependent upon usage or output, or may vary for other reasons, such as insurance or tax payments. Variable lease payments are recognized as incurred and are not presented as part of the ROU asset or lease liability. See Note 12. Leases for additional information
Business Combinations	Business Combinations. The Company accounts for business combinations by establishing the acquisition-date fair value as the measurement for all assets acquired and liabilities assumed. Certain provisions of U.S. GAAP prescribe, among other things, the determination of acquisition-date fair value of consideration paid in a business combination (including contingent consideration) and the exclusion of transaction and acquisition-related restructuring costs from acquisition accounting.
Goodwill	Goodwill. The excess purchase price over the fair value allocated to identifiable tangible and intangible net assets of businesses acquired is reported as goodwill in the accompanying Consolidated Balance Sheets. The Company tests goodwill for impairment at least annually as of April 1, or when events or changes in circumstances indicate that goodwill might be impaired. The evaluation of impairment involves comparing the current fair value of the Company’s reporting units to the recorded value (including goodwill). The Company uses a discounted cash flow (“DCF”) model and/or a market analysis to determine the fair value of its reporting units. A number of assumptions and estimates are involved in estimating the forecasted cash flows used in the DCF model, including markets and market shares, sales volume and pricing, costs to produce, working capital changes and income tax rates. Management considers historical experience and all available information at the time the fair values of the reporting units are estimated. Goodwill impairment is measured as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The Company has the option to perform a qualitative assessment of goodwill prior to completing the quantitative assessment described above to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill and other intangible assets. If the Company concludes that this is the case, it must perform the quantitative assessment. Otherwise, the Company will forego the quantitative assessment and does not need to perform any further testing. As of April 1 of fiscal years 2022 and 2021, the Company completed its annual impairment tests of its reporting units using the quantitative assessment. Based on the results of these analyses the Company’s goodwill was not impaired; the fair value is well in excess of the carrying value for each reporting unit.
Intangibles	Intangibles. Intangible assets are initially recorded at their cost or fair value upon acquisition. Finite-lived intangible assets are amortized for financial reporting purposes using the straight-line method over the estimated useful lives of the assets ranging from 3 to 20 years. Indefinite-lived intangible assets are not amortized but tested annually for impairment at April 1, or when events or changes in circumstances indicate that indefinite-lived intangible assets might be impaired. We previously classified intangible asset amortization expense within SG&A expenses in our Consolidated Statements of Earnings (Loss). Amortization expense on the developed technology intangible assets is now classified within Cost of goods sold, with amortization expense on customer lists and trade names remaining within SG&A expenses in our Consolidated Statements of Earnings (Loss). Prior period amounts have been conformed to the current period presentation, which resulted in an increase to Cost of goods sold and a decrease to SG&A expenses of $39 million and $28 million for the years ended June 30, 2021 and June 30, 2020, respectively.
Investments in Other Entities	Investments in Other Entities. In the normal course of business, the Company enters into various types of investment arrangements, each having unique terms and conditions. These investments may include equity interests held by the Company in business entities, including general or limited partnerships, contractual ventures, or other forms of equity participation. The Company determines whether such investments involve a variable interest entity (“VIE”) based on the characteristics of the subject entity. If the entity is determined to be a VIE, then management determines if the Company is the primary beneficiary of the entity and whether or not consolidation of the VIE is required. The primary beneficiary consolidating the VIE must normally have both (i) the power to direct the activities of a VIE that most significantly affect the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE, in either case that could potentially be significant to the VIE. When the Company is deemed to be the primary beneficiary, the VIE is consolidated and the other party’s equity interest in the VIE is accounted for as a noncontrolling interest. The Company generally accounts for investments it makes in VIEs in which it has determined that it does not have a controlling financial interest but has significant influence over or holds at least a 20% ownership interest using the equity method. Any such investment not meeting the parameters to be accounted under the equity method would be accounted for under ASC 321, Investments - Equity Securities. If an entity fails to meet the characteristics of a VIE, management then evaluates such entity under the voting model. Under the voting model, management consolidates the entity if they determine that the Company, directly or indirectly, has greater than 50% of the voting shares and determines that other equity holders do not have substantive participating rights.
Series A Mandatory Convertible Preferred Stock and Series B Convertible Preferred Stock	Series A Mandatory Convertible Preferred Stock . The II-VI Series A Mandatory Convertible Preferred Stock is initially measured at fair value, less underwriting discounts and commissions and offering expenses paid by the Company. The Preferred Stock’s dividends are cumulative, at 6% per annum.
Commitments and Contingencies	Commitments and Contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. Such accruals are adjusted as further information develops or circumstances change. Our customers may discover defects in our products after the products have been fully deployed and operated under peak stress conditions. If we are unable to correct defects or other problems, we could experience, among other things, loss of customers, increased costs of product returns and warranty expenses, damage to our brand reputation, failure to attract new customers or achieve market acceptance, diversion of development and engineering resources, or legal action by our customers. The Company had no material loss contingency liabilities at June 30, 2022 related to commitments and contingencies.
Income Taxes	Income Taxes. Deferred income tax assets and liabilities are determined based on the differences between the Consolidated Financial Statements and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount more likely than not to be realized. The Company’s accounting policy is to apply acquired deferred tax liabilities to pre-existing deferred tax assets before evaluating the need for a valuation allowance for acquired deferred tax assets. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The amount of unrecognized tax benefits is adjusted for changes in facts and circumstances. For example, adjustments could result from significant amendments to existing tax law and the issuance of regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination. The Company believes that its estimates for uncertain tax positions are appropriate and sufficient to pay assessments that may result from examinations of its tax returns. The Company recognizes both accrued interest and penalties related to unrecognized tax benefits in income tax expense.
Revenue Recognition	Revenue Recognition. Revenue is recognized under Accounting Standards Codification 606, Revenue from Contracts with Customers (ASC 606), when or as obligations under the terms of a contract with the Company’s customer have been satisfied and control has transferred to the customer. The Company has elected the practical expedient to exclude all taxes from the measurement of the transaction price. For contracts with commercial customers, which comprise the majority of the Company’s performance obligations, ownership of the goods and associated revenue are transferred to customers at a point in time, generally upon shipment of a product to the customer or receipt of the product by the customer and without significant judgments. The majority of contracts typically require payment within 30 to 90 days after transfer of ownership to the customer. Contracts with the U.S. government through its prime contractors are typically for products or services with no alternative future use to the Company with an enforceable right to payment for performance completed to date, whereas commercial contracts typically have alternative use. Customized products with no alternative future use to the Company with an enforceable right to payment for performance completed to date are recorded over time utilizing the output method of units delivered. The Company considers this to be a faithful depiction of the transfer to the customer of revenue over time due to short cycle time and immaterial work-in-process balances. The majority of contracts typically require payment within 30 to 90 days after transfer of ownership to the customer. Service revenue includes repairs, non-recurring engineering, tolling arrangements and installation. Repairs, tolling and installation activities are usually completed in a short period of time (normally less than one month) and therefore recorded at a point in time when the services are completed. Non-recurring engineering arrangements are typically recognized over time under the time and material practical expedient, as the entity has a right to consideration from a customer, in an amount that corresponds directly with the value to the customer of the entity’s performance completed to date. The majority of contracts typically require payment within 90 days. The Company's revenue recognition policy is consistently applied across the Company's segments, product lines, services, and geographical locations. For the periods covered herein, the Company measures revenue based on the amount of consideration it expects to be entitled to in exchange for products or services, reduced by the amount of variable consideration related to products expected to be returned. The Company determines variable consideration, which primarily consists of product returns and distributor sales price reductions resulting from price protection agreements, by estimating the impact of such reductions based on historical analysis of such activity. Under ASC 606, the Company expenses sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within selling, general and administrative expenses. The Company has elected to recognize the costs for freight and shipping when control over products has transferred to the customer as an expense in cost of goods sold. The Company monitors and tracks the amount of product returns and reduces revenue at the time of shipment for the estimated amount of future returns, based on historical experience. The Company offers an assurance-type limited warranty that products will be free from defects in materials and workmanship. The Company establishes an accrual for estimated warranty expenses at the time revenue is recognized. The warranty is typically one year, although can be longer periods for certain products, and is limited to either (1) the replacement or repair of the product or (2) a credit against future purchases. The Company believes that disaggregating revenue by end market provides the most relevant information regarding the nature, amount, timing, and uncertainty of revenues and cash flows. See Note 4. Revenue from Contracts with Customers.
Research and Development	Research and Development . Research and development expenses include salaries, contractor and consultant fees, supplies and materials, as well as costs related to other overhead such as depreciation, facilities, utilities and other departmental expenses. The costs we incur with respect to internally developed technology, including allocations of our wafer fabrication and other manufacturing facilities and resources utilized to support R&D programs, are included in research and development expenses as incurred.
Share-Based Compensation	Share-Based Compensation. Share-based compensation arrangements require the recognition in net earnings (loss) of the grant date fair value of stock compensation (for equity-classified awards). The Company recognizes the share-based compensation expense over the requisite service period of the individual grantees, which generally equals the vesting period, net of forfeitures. The estimated annualized forfeitures are based on the Company’s historical experience of pre-vesting cancellations. The Company will record additional expense in future periods if the actual forfeiture rate is lower than estimated, and will adjust expense in future periods if the actual forfeitures are higher than estimated.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Income (Loss). Accumulated other comprehensive income (loss) is a measure of all changes in shareholders’ equity that result from transactions and other economic events in the period other than transactions with owners. Accumulated other comprehensive income (loss) is a component of shareholders’ equity and consists of accumulated foreign currency translation adjustments, changes in the fair value of interest rate swap derivative instruments, and pension adjustments.
Fair Value Measurements	Fair Value Measurements. The Company applies fair value accounting for all financial assets and liabilities that are required to be recognized or disclosed at fair value in the Consolidated Financial Statements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which the Company would transact, and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.
Recently Issued Financial Accounting Standards	Debt - Debt with Conversion and Other Options and Derivatives and Hedging - Contracts in Entity's Own Equity In August 2020, the FASB issued ASC Update No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) ("ASU 2020-06"). The update simplifies the accounting for convertible instruments by eliminating two accounting models (i.e., the cash conversion model and beneficial conversion feature model) and reducing the number of embedded conversion features that could be recognized separately from the host contract. ASU 2020-06 also enhances transparency and improves disclosures for convertible instruments and earnings per share guidance. The Company adopted this standard as of July 1, 2021. The Company elected to use the modified retrospective method to report the effect of the changes. Adoption of the standard affected the Company's currently outstanding 0.25% Convertible Senior Notes due 2022 (the "II-VI Convertible Notes"). Refer to Note 8. Debt for the impact of the adoption on the II-VI Convertible Notes. Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The guidance simplifies the accounting for income taxes by removing certain exceptions and adding guidance to improve consistency for other areas of Topic 740. The Company adopted this standard effective July 1, 2021. The adoption did not have a material impact on the Company’s consolidated financial statements. Pronouncements Currently Under Evaluation Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients to ease the potential burden of accounting for the effects of reference rate reform as it pertains to contract modifications of debt and lease contracts and derivative contracts identified in a hedging relationship. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is in the process of evaluating the impact of the pronouncement. Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In October 2021, the Financial Accounting Standards Board (the "FASB") issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”), which requires an acquirer to recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASC 606 rather than adjust them to fair value at the acquisition date. We will adopt this accounting standard in the first quarter of fiscal 2023. Results of operations for quarterly periods prior to adoption remain unchanged as a result of the adoption of ASU No. 2021-08. The acquisition of Coherent, and all future acquisitions, will be accounted for in accordance with ASU 2021-08. Refer to Note 3. Coherent Acquisition for further information. The adoption of this standard did not have an impact on our Consolidated Financial Statements.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
Revenue from Contracts with Customers (Tables)	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenue by Market and Product	The following table summarizes disaggregated revenue by market for the years ended June 30, 2022, 2021 and 2020 ($000): Year Ended June 30, 2022 Photonic Compound Total Industrial $ 71,027 $ 340,079 $ 411,106 Communications 2,078,288 124,843 2,203,131 Aerospace & Defense — 184,635 184,635 Consumer 9,255 221,002 230,257 Semiconductor 13,841 137,182 151,023 Other 53,785 82,679 136,464 Total Revenues $ 2,226,196 $ 1,090,420 $ 3,316,616 Year Ended June 30, 2021 Photonic Compound Total Industrial $ 50,181 $ 275,698 $ 325,879 Communications 1,917,697 134,969 2,052,666 Aerospace & Defense — 201,845 201,845 Consumer 9,138 277,319 286,457 Semiconductor 9,778 107,374 117,152 Other 51,490 70,402 121,892 Total Revenues $ 2,038,284 $ 1,067,607 $ 3,105,891 Year Ended June 30, 2020 Photonic Compound Unallocated & Other Total Industrial $ 52,806 $ 240,475 $ — $ 293,281 Communications 1,437,377 125,527 21,557 1,584,461 Aerospace & Defense — 175,097 — 175,097 Consumer 4,620 126,227 494 131,341 Semiconductor 7,971 102,203 — 110,174 Other 34,016 51,701 — 85,717 Total Revenues $ 1,536,790 $ 821,230 $ 22,051 $ 2,380,071

Inventories (Tables)

Inventories (Tables)	12 Months Ended
Inventories (Tables)	Jun. 30, 2022
Inventory Disclosure [Abstract]
Components of Inventories	The components of inventories were as follows: June 30, 2022 2021 ($000) Raw materials $ 318,758 $ 211,890 Work in progress 408,405 336,391 Finished goods 175,396 147,547 Total Inventories $ 902,559 $ 695,828

Property, Plant & Equipment (Ta

Property, Plant & Equipment (Tables)	12 Months Ended
Property, Plant & Equipment (Tables)	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant & Equipment	Property, plant & equipment consists of the following: June 30, 2022 2021 ($000) Land and land improvements $ 19,368 $ 20,454 Buildings and improvements 415,530 419,157 Machinery and equipment 1,651,762 1,483,183 Construction in progress 271,605 136,544 Finance lease right-of-use asset 25,000 25,000 2,383,265 2,084,338 Less accumulated depreciation (1,020,070) (841,432) Property, plant, and equipment, net $ 1,363,195 $ 1,242,906

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
Goodwill and Other Intangible Assets (Tables)	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill were as follows ($000): Year Ended June 30, 2022 Year Ended June 30, 2021 Photonic Compound Total Photonic Compound Total Balance-beginning of period $ 1,053,028 $ 243,699 $ 1,296,727 $ 1,052,494 $ 186,515 $ 1,239,009 Goodwill acquired — — — — 54,634 54,634 Finisar measurement period adjustments — — — (4,901) — (4,901) Foreign currency translation (4,285) (6,683) (10,968) 5,435 2,550 7,985 Balance-end of period $ 1,048,743 $ 237,016 $ 1,285,759 $ 1,053,028 $ 243,699 $ 1,296,727
Gross Carrying Amount and Accumulated Amortization of Intangible Assets Other Than Goodwill	The gross carrying amount and accumulated amortization of the Company’s intangible assets other than goodwill as of June 30, 2022 and 2021 were as follows ($000): June 30, 2022 June 30, 2021 Gross Accumulated Net Gross Accumulated Net Technology $ 473,845 $ (144,409) $ 329,436 $ 476,200 $ (106,802) $ 369,398 Trade Names 22,536 (7,454) 15,082 22,660 (6,233) 16,427 Customer Lists 464,880 (173,994) 290,886 469,154 (136,519) 332,635 Other 1,563 (1,563) — 1,576 (1,576) — Total $ 962,824 $ (327,420) $ 635,404 $ 969,590 $ (251,130) $ 718,460
Estimated Amortization Expense for Existing Intangible Assets for Each of Five Succeeding Years	The estimated amortization expense for existing intangible assets for each of the five succeeding years is as follows ($000): Year Ending June 30, 2023 $ 77,480 2024 75,607 2025 74,119 2026 72,265 2027 70,495

Debt (Tables)

Debt (Tables)	12 Months Ended
Debt (Tables)	Jun. 30, 2022
Debt Disclosure [Abstract]
Components of Debt	The components of debt for the periods indicated were as follows ($000): June 30, 2022 June 30, 2021 Term A Facility, interest at LIBOR, as defined, plus 1.375% $ 995,363 $ 1,057,412 Debt issuance costs, Term A Facility and Revolving Credit Facility (18,396) (25,191) 5.000% Senior Notes 990,000 — Debt issuance costs and discount, Senior Notes (7,703) — 0.50% Convertible Senior Notes, assumed in the Finisar acquisition — 14,888 0.25% Convertible Senior Notes 341,501 344,969 Debt issuance costs and discount, 0.25% Convertible Senior Notes (339) (16,937) Total debt 2,300,426 1,375,141 Current portion of long-term debt (403,212) (62,050) Long-term debt, less current portion $ 1,897,214 $ 1,313,091
Schedule of Maturities of Long-term Debt	The scheduled maturities of principal amounts of debt obligations for the next five years and thereafter is as follows ($000): Year Ending June 30, 2023 $ 403,551 2024 62,050 2025 871,263 2026 — 2027 — Thereafter 990,000 Total $ 2,326,864
Summary of Total Interest Expense Recognized	The following table sets forth total interest expense recognized related to the II-VI Convertible Notes for the years ended June 30, 2022, 2021 and 2020 ($000): Year Ended June 30, 2022 Year Ended June 30, 2021 Year Ended June 30, 2020 0.25% contractual coupon $ 875 $ 874 $ 876 Amortization of debt discount and debt issuance costs including initial purchaser discount 1,947 13,748 13,172 Interest expense $ 2,822 $ 14,622 $ 14,048

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Components of Earnings (Losses) Before Income Taxes	The components of earnings (loss) before income taxes were as follows: Year Ended June 30, 2022 2021 2020 ($000) U.S. income (loss) $ (62,721) $ 21,692 $ (302,027) Non-U.S. income 344,528 330,898 238,099 Earnings (loss) before income taxes $ 281,807 $ 352,590 $ (63,928)
Components of Income Tax Expense	The components of income tax expense were as follows: Year Ended June 30, 2022 2021 2020 ($000) Current: Federal $ 1,569 $ 415 $ 7 State 768 1,632 496 Foreign 52,865 53,362 45,052 Total Current $ 55,202 $ 55,409 $ 45,555 Deferred: Federal $ (7,185) $ 13,744 $ (43,955) State (1,215) (431) 1,007 Foreign 246 (13,684) 494 Total Deferred $ (8,154) $ (371) $ (42,454) Total Income Tax Expense $ 47,048 $ 55,038 $ 3,101
Schedule of Principal Items Comprising Deferred Income Taxes	Principal items comprising deferred income taxes were as follows: June 30, 2022 2021 ($000) Deferred income tax assets Inventory capitalization $ 20,562 $ 20,753 Interest rate swap — 6,347 Non-deductible accruals 8,403 7,437 Accrued employee benefits 11,320 14,025 Net-operating loss and credit carryforwards 149,949 163,717 Share-based compensation expense 10,125 8,400 Other 3,565 1,832 Deferred revenue 12,416 7,124 Right of use asset 29,817 33,341 Valuation allowances (55,420) (53,765) Total deferred income tax assets $ 190,737 $ 209,211 Deferred income tax liabilities Tax over book accumulated depreciation $ (28,701) $ (32,692) Intangible assets (134,972) (153,582) Interest rate swap (6,105) — Interest rate cap (4,102) — Tax on unremitted earnings (26,383) (21,569) Convertible debt — (3,321) Lease liability (28,983) (32,053) Other (7,036) (6,458) Total deferred income tax liabilities $ (236,282) $ (249,675) Net deferred income taxes $ (45,545) $ (40,464)
Schedule of Reconciliation of Income Tax Expense at Statutory U.S. Federal Rate to Reported Income Tax Expense	The reconciliation of income tax expense at the statutory U.S. federal rate to the reported income tax expense is as follows: Year Ended June 30, 2022 % 2021 % 2020 % ($000) Taxes at statutory rate $ 59,179 21 $ 74,044 21 $ (13,425) 21 Increase (decrease) in taxes resulting from: State income taxes-net of federal benefit (339) — 1,246 — 1,194 (2) Taxes on non U.S. earnings (2,704) (1) (26,557) (7) (915) 1 Valuation allowance (1,513) (1) (3,720) (1) (9,365) 15 Research and manufacturing incentive deductions and credits (24,341) (9) (22,968) (6) (15,836) 25 Stock compensation 2,095 1 (2,500) (1) 4,334 (7) GILTI and FDII 4,866 2 27,369 8 36,067 (56) Other 9,805 4 8,124 2 1,047 (2) $ 47,048 17 $ 55,038 16 $ 3,101 (5)
Schedule of Gross Operating Loss Carryforwards and Tax Credit Carryforwards	The Company has the following gross operating loss carryforwards and tax credit carryforwards as of June 30, 2022: Type Amount Expiration Date ($000) Tax credit carryforwards: Federal research and development credits $ 83,063 June 2023-June 2042 Foreign tax credits 3,540 June 2030-June 2032 State tax credits 15,632 June 2023-June 2037 State tax credits (indefinite) 39,243 Indefinite Operating loss carryforwards: Loss carryforwards - federal $ 42,012 June 2023-June 2036 Loss carryforwards - state 182,178 June 2023-June 2042 Loss carryforwards - state (indefinite) 25,899 Indefinite Loss carryforwards - foreign 15,608 June 2023-June 2032 Loss carryforwards - foreign (indefinite) 38,600 Indefinite
Schedule of Changes in Liability for Unrecognized Tax Benefits	Changes in the liability for unrecognized tax benefits for the fiscal years ended June 30, 2022, 2021 and 2020 were as follows: 2022 2021 2020 ($000) Beginning balance $ 38,025 $ 42,803 $ 11,520 Increases in current year tax positions 1,803 3,940 1,506 Acquired business — 5,341 31,791 Settlements — (7,514) — Expiration of statute of limitations (2,417) (6,545) (2,014) Ending balance $ 37,411 $ 38,025 $ 42,803

Equity and Redeemable Preferr_2

Equity and Redeemable Preferred Stock (Tables)	12 Months Ended
Equity and Redeemable Preferred Stock (Tables)	Jun. 30, 2022
Equity [Abstract]
Measurement Inputs Used to Estimate Future Market Value	Upon issuance of the Mandatory Convertible Preferred Stock, the Company used a Monte Carlo simulation model to estimate the future market value of the II-VI Common Stock on the mandatory conversion date, based on the following inputs: Expected Volatility 50% - 55% Cost of Equity 14% - 17% Dividend Yield none
Dividends Declared	The following table presents dividends per share and dividends recognized for the years ended June 30, 2022, and June 30, 2021: Year Ended June 30, 2022 Year Ended June 30, 2021 Dividends per share 12.00 11.80 Series A Mandatory Convertible Preferred Stock dividends ($000) 27,600 27,140 The following table presents dividends per share and dividends recognized for the years ended June 30, 2022, and June 30, 2021: Year Ended June 30, 2022 Year Ended June 30, 2021 Dividends per share 541.66 134.55 Dividends ($000) 38,598 9,583 Deemed dividends ($000) 2,027 508

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2022
Earnings Per Share [Abstract]
Computation of Earnings Per Share	The following is a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share computations for the periods presented ($000): Year Ended June 30, 2022 2021 2020 ($000 except per share) Numerator Net earnings (loss) $ 234,759 $ 297,552 $ (67,029) Deduct Series A preferred stock dividends (27,600) (27,140) — Deduct Series B dividends and deemed dividends (40,625) (10,091) — Basic earnings (loss) available to common shareholders $ 166,534 $ 260,321 $ (67,029) Effect of dilutive securities: Add back interest on II-VI Convertible Notes (net of tax) $ 2,229 $ 12,264 $ — Diluted earnings (loss) available to common shareholders $ 168,763 $ 272,585 $ (67,029) Denominator Weighted average shares 106,189 104,151 84,828 Effect of dilutive securities Common stock equivalents 3,012 3,552 — II-VI Convertible Notes 7,312 7,331 — Diluted weighted average common shares 116,513 115,034 84,828 Basic earnings (loss) per common share $ 1.57 $ 2.50 $ (0.79) Diluted earnings (loss) per common share $ 1.45 $ 2.37 $ (0.79)
Schedule of Potential Shares of Common Stock Excluded from the Calculation of Diluted Net Income Per Share	The following table presents potential shares of common stock excluded from the calculation of diluted net earnings (loss) per share, as their effect would have been antidilutive (in thousands of shares): Year Ended June 30, 2022 2021 2020 Series A Mandatory Convertible Preferred Stock 8,915 8,915 — Series B Redeemable Preferred Stock 9,162 2,230 — II-VI Convertible Notes due 2022 — — 7,331 Common stock equivalents 9,611 118 2,345 Total anti-dilutive shares 27,688 11,263 9,676

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Jun. 30, 2022
Leases [Abstract]
Lease, Cost	The following table presents lease costs, which include leases for arrangements with an initial term of more than 12 months, lease term, and discount rates ($000): Year Ended Year Ended Year Ended Finance Lease Cost Amortization of right-of-use assets $ 1,671 $ 1,667 $ 1,667 Interest on lease liabilities 1,200 1,268 1,328 Total finance lease cost 2,871 2,935 2,995 Operating lease cost 36,716 37,361 32,466 Sublease income 507 1,471 368 Total lease cost $ 39,080 $ 38,825 $ 35,093 Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from finance leases 1,200 1,268 1,328 Operating cash flows from operating leases 35,481 35,641 30,816 Financing cash flows from finance leases 1,290 1,152 1,026 Assets Obtained in Exchange for Lease Liabilities Right-of-use assets obtained in acquisitions — 13,391 29,247 Right-of-use assets obtained in exchange for new operating lease liabilities 18,161 52,839 29,458 Total assets obtained in exchange for new operating lease liabilities 18,161 66,230 58,705 Weighted-Average Remaining Lease Term (in Years) Finance leases 9.5 10.5 11.5 Operating leases 6.6 7.0 7.2 Weighted-Average Discount Rate Finance leases 5.6 % 5.6 % 5.6 % Operating leases 5.7 % 6.1 % 7.3 %
Finance Leases, Future Minimum Lease Payments	The following table presents future minimum lease payments, which includes leases for arrangements with an initial term of more than 12 months ($000): Future Years Operating Leases Finance Leases Total Year 1 $ 34,062 $ 2,554 $ 36,616 Year 2 29,923 2,624 32,547 Year 3 24,830 2,697 27,527 Year 4 19,816 2,771 22,587 Year 5 15,532 2,847 18,379 Thereafter 47,284 13,801 61,085 Total minimum lease payments $ 171,447 $ 27,294 $ 198,741 Less: amounts representing interest 33,659 6,284 39,943 Present value of total lease liabilities $ 137,788 $ 21,010 $ 158,798
Operating Lease, Future Minimum Lease Payments	The following table presents future minimum lease payments, which includes leases for arrangements with an initial term of more than 12 months ($000): Future Years Operating Leases Finance Leases Total Year 1 $ 34,062 $ 2,554 $ 36,616 Year 2 29,923 2,624 32,547 Year 3 24,830 2,697 27,527 Year 4 19,816 2,771 22,587 Year 5 15,532 2,847 18,379 Thereafter 47,284 13,801 61,085 Total minimum lease payments $ 171,447 $ 27,294 $ 198,741 Less: amounts representing interest 33,659 6,284 39,943 Present value of total lease liabilities $ 137,788 $ 21,010 $ 158,798

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
Share-Based Compensation (Tables)	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation Expense by Award Type	Share-based compensation expense for the fiscal years ended June 30, 2022, 2021 and 2020 is as follows $000: Year Ended June 30, 2022 2021 2020 Stock Options and Cash-Based Stock $ 3,218 $ 10,626 $ 11,893 Restricted Share Awards, Restricted Share 56,365 47,060 49,957 Performance Share Units and Cash 10,077 16,640 11,977 $ 69,660 $ 74,326 $ 73,827
Schedule of Fair Value Assumptions under Stock Option Plan	During fiscal year ended June 30, 2020, the weighted-average fair value of options granted under the Plan was $14.79 per option, using the following assumptions: Year Ended June 30, 2020 Risk-free interest rate 1.50 % Expected volatility 39 % Expected life of options 6.91 years Dividend yield None
Stock Option and Cash-Based Stock Appreciation Rights Activity	Stock option and cash-based stock appreciation rights activity during the fiscal year ended June 30, 2022 was as follows: Stock Options Cash-Based Stock Appreciation Rights Number of Weighted Average Number of Weighted Average Outstanding - July 1, 2021 2,642,634 $ 29.26 145,334 $ 33.80 Exercised (188,015) $ 26.78 (14,054) $ 37.00 Forfeited and Expired (21,729) $ 30.78 (3,718) $ 35.80 Outstanding - June 30, 2022 2,432,890 $ 29.41 127,562 $ 33.39 Exercisable - June 30, 2022 1,990,721 $ 27.61 86,211 $ 30.86
Share-Based Compensation Outstanding and Exercisable Options	Outstanding and exercisable stock options at June 30, 2022 were as follows: Stock Options and Cash-Based Stock Stock Options and Cash-Based Stock Number of Weighted Weighted Number of Weighted Weighted Range of Shares or Contractual Term Exercise Shares or Contractual Term Exercise Exercise Prices Rights (Years) Price Rights (Years) Price $13.34 - $18.07 549,192 2.62 $ 16.14 549,192 2.62 $ 16.14 $18.07 - $24.35 596,310 3.23 $ 20.96 590,046 3.19 $ 20.87 $24.35 - $35.39 490,512 5.72 $ 33.29 401,104 5.33 $ 34.10 $35.39 - $36.90 541,065 7.19 $ 36.46 254,550 7.14 $ 36.45 $36.90 - $49.90 383,373 6.08 $ 47.94 282,040 6.02 $ 47.85 2,560,452 4.84 $ 29.60 2,076,932 4.32 $ 27.74
Restricted Share, Restricted Share Unit and Cash-Based Restricted Share Unit Activity	Restricted share unit, and cash-based restricted share unit activity during the fiscal year ended June 30, 2022, was as follows: Restricted Share Units Cash-Based Restricted Share Units Number of Weighted Average Number of Weighted Average Nonvested - July 1, 2021 2,326,172 $ 43.67 45,873 $ 38.75 Granted 849,467 $ 63.63 3,538 $ 63.60 Vested (1,117,600) $ 40.67 (26,589) $ 40.48 Forfeited (159,861) $ 44.87 (2,344) $ 45.29 Nonvested - June 30, 2022 1,898,178 $ 54.24 20,478 $ 40.05
Performance Share and Cash-Based Performance Share Unit Award Activity	Performance share unit and cash-based performance share unit activity relating to the Plan during the year ended June 30, 2022, was as follows: Performance Share Units Cash-Based Performance Share Units Number of Weighted Average Number of Weighted Average Nonvested - July 1, 2021 518,309 $ 45.28 27,724 $ 39.43 Granted 167,764 $ 83.03 — $ — Vested (200,611) $ 62.69 (23,514) $ 49.90 Forfeited (16,407) $ 53.49 — $ — Performance Adjustments 122,530 $ — 13,914 $ 49.90 Nonvested - June 30, 2022 591,585 $ 40.48 18,124 $ 33.88

Segment and Geographic Report_2

Segment and Geographic Reporting (Tables)	12 Months Ended
Segment and Geographic Reporting (Tables)	Jun. 30, 2022
Segment Reporting [Abstract]
Financial Information of Company's Operation by Segment	The following tables summarize selected financial information of the Company’s operations by segment: Photonic Solutions Compound Semiconductors Unallocated Total ($000) 2022 Revenues $ 2,226,196 $ 1,090,420 $ — $ 3,316,616 Inter-segment revenues 36,898 329,342 (366,240) — Operating income (loss) 230,094 220,070 (35,870) 414,294 Interest expense — — — (121,254) Other income, net — — — (11,233) Income taxes — — — (47,048) Net earnings — — — 234,759 Depreciation and amortization 172,851 113,928 — 286,779 Expenditures for property, plant & equipment 89,818 224,514 — 314,332 Segment assets 4,875,053 2,969,793 — 7,844,846 Goodwill 1,048,743 237,016 — 1,285,759 Photonic Solutions Compound Semiconductors Unallocated Total ($000) 2021 Revenues $ 2,038,284 $ 1,067,607 $ — $ 3,105,891 Inter-segment revenues 35,358 244,407 (279,765) — Operating income (loss) 207,652 221,239 (26,772) 402,119 Interest expense — — — (59,899) Other income, net — — — 10,370 Income taxes — — — (55,038) Net loss — — — 297,552 Depreciation and amortization 161,208 108,861 — 270,069 Expenditures for property, plant & equipment 87,304 59,033 — 146,337 Segment assets 4,231,289 2,281,361 — 6,512,650 Goodwill 1,053,028 243,699 — 1,296,727 Photonic Solutions Compound Semiconductors Unallocated Total ($000) 2020 Revenues $ 1,536,790 $ 821,230 $ 22,051 $ 2,380,071 Inter-segment revenues 31,515 164,884 (196,399) — Operating income 49,930 62,279 (72,730) 39,479 Interest expense — — — (89,409) Other income, net — — — (13,998) Income taxes — — — (3,101) Net earnings — — — (67,029) Depreciation and amortization 112,203 104,936 3,743 220,882 Expenditures for property, plant & equipment 45,795 88,318 2,764 136,877 Segment Assets 3,502,467 1,732,247 — 5,234,714 Goodwill 1,052,494 186,515 — 1,239,009
Geographic Information for Revenues by Location of Customer's Headquarters and Long-lived Assets by Country	Geographic information for revenues by location of the customer's headquarters, were as follows: Revenues Year Ended June 30, 2022 2021 2020 ($000) North America $ 1,771,385 $ 1,560,254 $ 1,085,146 Europe 623,157 567,703 437,908 China 614,393 680,479 483,393 Japan 196,512 203,655 183,587 Rest of World 111,169 93,800 190,038 Total $ 3,316,616 $ 3,105,891 $ 2,380,071 Geographic information for long-lived assets by country, which include property, plant and equipment, net of related depreciation, and certain other long-term assets, were as follows: Long-Lived Assets June 30, 2022 2021 ($000) United States $ 902,163 $ 737,151 Non-United States China 394,056 402,987 United Kingdom 63,898 60,090 Malaysia 64,807 53,187 Switzerland 40,540 37,121 Sweden 28,030 27,374 Germany 14,521 16,703 Australia 10,478 13,627 Vietnam 16,844 10,246 Philippines 7,375 7,890 Taiwan 7,025 6,532 Korea 4,325 4,595 Hong Kong 1,645 2,104 Other 2,350 1,916 Total Non-United States $ 655,894 $ 644,372 $ 1,558,057 $ 1,381,523

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
Fair Value of Financial Instruments (Tables)	Jun. 30, 2022
Business Combinations [Abstract]
Summary of Fair Value and Carrying Value of Convertible Notes	The fair value and carrying value of the II-VI Convertible Notes and Senior Notes were as follows at June 30, 2022 ($000): Fair Value Carrying Value II-VI Convertible Notes $ 382,601 $ 341,162 Senior Notes $ 865,527 $ 982,297

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
Employee Benefit Plans (Tables)	Jun. 30, 2022
Retirement Benefits [Abstract]
Schedule of Estimated Future Benefit Payments Under Swiss Plan	Estimated future benefit payments under the Swiss Plan are estimated to be as follows: Year Ending June 30, ($000) 2023 $ 6,700 2024 5,300 2025 6,700 2026 8,900 2027 4,600 Next five years 41,200

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	12 Months Ended
Other Accrued Liabilities (Tables)	Jun. 30, 2022
Payables and Accruals [Abstract]
Components of Other Accrued Liabilities	The components of other accrued liabilities were as follows: June 30, 2022 2021 ($000) Contract liabilities $ 22,960 $ 13,926 Warranty reserves 17,738 21,868 Accrued interest 38,872 428 Other accrued liabilities 120,260 109,687 $ 199,830 $ 145,909

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Jun. 30, 2022
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income ("AOCI") by Component, Net of Tax	The changes in accumulated other comprehensive income (loss) (“AOCI”) by component, net of tax, for the years ended June 30, 2022, 2021, and 2020 were as follows ($000): Foreign Interest Interest Defined Total AOCI - June 30, 2019 $ (15,627) $ — $ — $ (8,594) $ (24,221) Other comprehensive loss before reclassifications (15,969) (46,067) — (3,528) (65,564) Amounts reclassified from AOCI — 1,982 — 420 2,402 Net current-period other comprehensive loss (15,969) (44,085) — (3,108) (63,162) AOCI - June 30, 2020 $ (31,596) $ (44,085) $ — $ (11,702) $ (87,383) Other comprehensive income (loss) before reclassifications 86,991 (2,687) — 1,709 86,013 Amounts reclassified from AOCI — 14,999 — 638 15,637 Net current-period other comprehensive income 86,991 12,312 — 2,347 101,650 AOCI - June 30, 2021 $ 55,395 $ (31,773) $ — $ (9,355) $ 14,267 Other comprehensive income (loss) before reclassifications (89,967) 29,711 14,306 15,300 (30,650) Amounts reclassified from AOCI — 13,797 — 419 14,216 Net current-period other comprehensive income (loss) (89,967) 43,508 14,306 15,719 (16,434) AOCI - June 30, 2022 $ (34,572) $ 11,735 $ 14,306 $ 6,364 $ (2,167)

Nature of Business and Summar_3

Nature of Business and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Significant Accounting Policies [Line Items]
Cost of goods sold	$ 2,051,120	$ 1,928,432	$ 1,588,890
Selling, general and administrative	(474,096)	$ (445,235)	(412,629)
Loss contingency liability	$ 0
Assurance-type limited product warranty period	1 year
Series A Mandatory Convertible Preferred Stock
Significant Accounting Policies [Line Items]
Preferred stock, dividend rate, percentage	6%	6%
Series B Convertible Preferred Stock
Significant Accounting Policies [Line Items]
Preferred stock, accretion period	10 years
Revision of Prior Period, Adjustment
Significant Accounting Policies [Line Items]
Cost of goods sold		$ 39,000	39,000
Selling, general and administrative		$ 28,000	$ 28,000
Minimum
Significant Accounting Policies [Line Items]
Finite-lived intangible assets useful life, years	3 years
Maximum
Significant Accounting Policies [Line Items]
Finite-lived intangible assets useful life, years	20 years
Building improvements and land improvements \| Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment estimated useful lives, years	10 years
Building improvements and land improvements \| Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment estimated useful lives, years	20 years
Machinery and Equipment \| Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment estimated useful lives, years	3 years
Machinery and Equipment \| Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment estimated useful lives, years	20 years

Recently Issued Financial Acc_2

Recently Issued Financial Accounting Standards (Details)	Jun. 30, 2022
0.25% Convertible Senior Note Due 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt instrument, interest rate	0.25%

Coherent Acquisition (Details)

Coherent Acquisition (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Jul. 01, 2022	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Net cash paid at acquisition			$ 0	$ 34,394	$ 1,036,609
Operating income (loss)			(414,294)	(402,119)	(39,479)
Unallocated & Other
Business Acquisition [Line Items]
Operating income (loss)			$ 35,870	$ 26,772	$ 72,730
Coherent Inc. \| Subsequent Event
Business Acquisition [Line Items]
Common stock, par value (in usd per share)	$ 0.01
Acquisition, cash consideration per share (in usd per share)	$ 220
Business acquisition number of shares to be received by acquiree (in shares)	0.91
Net cash paid at acquisition	$ 2,100,000
Acquisition related costs		$ 87,000
Shares issued (in shares)	23,000,000
Purchase consideration	$ 7,100,000

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Disaggregated Revenue by Market and Product (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 3,316,616	$ 3,105,891	$ 2,380,071
Unallocated & Other
Disaggregation of Revenue [Line Items]
Revenues			22,051
Photonic Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	2,226,196	2,038,284	1,536,790
Compound Semiconductors \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	1,090,420	1,067,607	821,230
Industrial
Disaggregation of Revenue [Line Items]
Revenues	411,106	325,879	293,281
Industrial \| Unallocated & Other
Disaggregation of Revenue [Line Items]
Revenues			0
Industrial \| Photonic Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	71,027	50,181	52,806
Industrial \| Compound Semiconductors \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	340,079	275,698	240,475
Communications
Disaggregation of Revenue [Line Items]
Revenues	2,203,131	2,052,666	1,584,461
Communications \| Unallocated & Other
Disaggregation of Revenue [Line Items]
Revenues			21,557
Communications \| Photonic Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	2,078,288	1,917,697	1,437,377
Communications \| Compound Semiconductors \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	124,843	134,969	125,527
Aerospace & Defense
Disaggregation of Revenue [Line Items]
Revenues	184,635	201,845	175,097
Aerospace & Defense \| Unallocated & Other
Disaggregation of Revenue [Line Items]
Revenues			0
Aerospace & Defense \| Photonic Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Aerospace & Defense \| Compound Semiconductors \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	184,635	201,845	175,097
Consumer
Disaggregation of Revenue [Line Items]
Revenues	230,257	286,457	131,341
Consumer \| Unallocated & Other
Disaggregation of Revenue [Line Items]
Revenues			494
Consumer \| Photonic Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	9,255	9,138	4,620
Consumer \| Compound Semiconductors \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	221,002	277,319	126,227
Semiconductor
Disaggregation of Revenue [Line Items]
Revenues	151,023	117,152	110,174
Semiconductor \| Unallocated & Other
Disaggregation of Revenue [Line Items]
Revenues			0
Semiconductor \| Photonic Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	13,841	9,778	7,971
Semiconductor \| Compound Semiconductors \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	137,182	107,374	102,203
Other
Disaggregation of Revenue [Line Items]
Revenues	136,464	121,892	85,717
Other \| Unallocated & Other
Disaggregation of Revenue [Line Items]
Revenues			0
Other \| Photonic Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	53,785	51,490	34,016
Other \| Compound Semiconductors \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	$ 82,679	$ 70,402	$ 51,701

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized related to customer payments	$ 13
Contract liabilities	$ 69	$ 40

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 318,758	$ 211,890
Work in progress	408,405	336,391
Finished goods	175,396	147,547
Total Inventories	$ 902,559	$ 695,828

Property, Plant & Equipment (De

Property, Plant & Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Property Plant And Equipment [Line Items]
Finance lease right-of-use asset	$ 25,000	$ 25,000
Property, plant, and equipment and finance lease right-of-use asset, before accumulated depreciation	2,383,265	2,084,338
Less accumulated depreciation	(1,020,070)	(841,432)
Property, plant, and equipment, net	1,363,195	1,242,906
Finance lease, right-of-use asset, accumulated amortization	9,000	7,000
Land and Land Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	19,368	20,454
Buildings and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	415,530	419,157
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	1,651,762	1,483,183
Construction in Progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 271,605	$ 136,544

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Goodwill And Other Intangible Assets [Line Items]
Amortization	$ 79,647	$ 82,266	$ 64,192
Carrying amount of indefinite trade names acquired	$ 14,000
Minimum
Goodwill And Other Intangible Assets [Line Items]
Amortization period of finite lived intangible assets, in months	3 years
Maximum
Goodwill And Other Intangible Assets [Line Items]
Amortization period of finite lived intangible assets, in months	20 years
Technology \| Minimum
Goodwill And Other Intangible Assets [Line Items]
Amortization period of finite lived intangible assets, in months	60 months
Technology \| Maximum
Goodwill And Other Intangible Assets [Line Items]
Amortization period of finite lived intangible assets, in months	240 months
Technology \| Weighted Average
Goodwill And Other Intangible Assets [Line Items]
Amortization period of finite lived intangible assets, in months	153 months
Customer Lists \| Minimum
Goodwill And Other Intangible Assets [Line Items]
Amortization period of finite lived intangible assets, in months	60 months
Customer Lists \| Maximum
Goodwill And Other Intangible Assets [Line Items]
Amortization period of finite lived intangible assets, in months	240 months
Customer Lists \| Weighted Average
Goodwill And Other Intangible Assets [Line Items]
Amortization period of finite lived intangible assets, in months	135 months

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Goodwill [Roll Forward]
Balance-beginning of period	$ 1,296,727	$ 1,239,009
Goodwill acquired	0	54,634
Finisar measurement period adjustments	0	(4,901)
Foreign currency translation	(10,968)	7,985
Balance-end of period	1,285,759	1,296,727
Photonic Solutions
Goodwill [Roll Forward]
Balance-beginning of period	1,053,028	1,052,494
Goodwill acquired	0	0
Finisar measurement period adjustments	0	(4,901)
Foreign currency translation	(4,285)	5,435
Balance-end of period	1,048,743	1,053,028
Compound Semiconductors
Goodwill [Roll Forward]
Balance-beginning of period	243,699	186,515
Goodwill acquired	0	54,634
Finisar measurement period adjustments	0	0
Foreign currency translation	(6,683)	2,550
Balance-end of period	$ 237,016	$ 243,699

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Gross Carrying Amount and Accumulated Amortization of Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 962,824	$ 969,590
Accumulated Amortization	(327,420)	(251,130)
Net Book Value	635,404	718,460
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	473,845	476,200
Accumulated Amortization	(144,409)	(106,802)
Net Book Value	329,436	369,398
Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	22,536	22,660
Accumulated Amortization	(7,454)	(6,233)
Net Book Value	15,082	16,427
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	464,880	469,154
Accumulated Amortization	(173,994)	(136,519)
Net Book Value	290,886	332,635
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,563	1,576
Accumulated Amortization	(1,563)	(1,576)
Net Book Value	$ 0	$ 0

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Estimated Amortization Expense for Existing Intangible Assets for Each of Five Succeeding Years (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 77,480
2024	75,607
2025	74,119
2026	72,265
2027	$ 70,495

Debt - Components of Debt (Deta

Debt - Components of Debt (Detail) - USD ($) $ in Thousands	12 Months Ended
Debt - Components of Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 10, 2021	Nov. 01, 2021	Jun. 30, 2021
Line of Credit Facility [Line Items]
Debt, gross	$ 2,326,864
Credit facility unamortized debt issuance costs	(7,703)			$ 0
Total debt	2,300,426			1,375,141
Current portion of long-term debt	(403,212)			(62,050)
Long-term debt, less current portion	$ 1,897,214			1,313,091
5.000% Senior Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	5%	5%
Debt, gross	$ 990,000			0
0.50% Convertible Senior Notes, assumed in the Finisar acquisition
Line of Credit Facility [Line Items]
Debt instrument, interest rate	0.50%		0.50%
0.50% Convertible Senior Notes, assumed in the Finisar acquisition \| Finisar Corporation
Line of Credit Facility [Line Items]
Debt, gross	$ 0			14,888
0.25% Convertible Senior Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	0.25%
Debt, gross	$ 341,501			344,969
Debt issuance costs and discount, 0.25% Convertible Senior Notes	(339)			(16,937)
Term A Loan Facility
Line of Credit Facility [Line Items]
Debt, gross	$ 995,363			1,057,412
Term A Loan Facility \| LIBOR
Line of Credit Facility [Line Items]
Debt instrument, rate added on variable rate	1.375%
Term A Facility and Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility unamortized debt issuance costs	$ (18,396)			$ (25,191)

Debt - Summary of Debt Maturity

Debt - Summary of Debt Maturity (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 403,551
2024	62,050
2025	871,263
2026	0
2027	0
Thereafter	990,000
Total debt	$ 2,326,864

Debt - Additional Information (

Debt - Additional Information (Details)

1 Months Ended

3 Months Ended

12 Months Ended

Dec. 15, 2022

Jul. 01, 2022 USD ($)

Dec. 22, 2021 USD ($) shares

Dec. 21, 2021

Dec. 10, 2021 USD ($)

Aug. 31, 2017 USD ($) d $ / shares

Jun. 30, 2022 USD ($)

Jun. 30, 2022 USD ($) d $ / shares shares

Jun. 30, 2021 USD ($) $ / shares

Jun. 30, 2020 USD ($) $ / shares

Dec. 15, 2021 USD ($)

Nov. 01, 2021

Oct. 25, 2021 USD ($)

Jul. 01, 2021 USD ($)

Jun. 30, 2019 USD ($)

Line of Credit Facility [Line Items]

Debt issuance costs capitalized

$ (17,000,000)

Debt issuance costs

5,000,000

Cash, cash equivalents and restricted cash

2,582,371,000

$ 1,591,892,000

$ 493,046,000

$ 204,872,000

Current portion of long-term debt

403,212,000

62,050,000

Deferred taxes

(236,282,000)

(249,675,000)

Retained earnings

(1,348,125,000)

$ (1,348,125,000)

$ (1,136,777,000)

Basic earnings per share (in usd per share) | $ / shares

$ (1.57)

$ (2.50)

$ 0.79

Diluted earnings per common share (in usd per share) | $ / shares

$ (1.45)

$ (2.37)

$ 0.79

Available credit under lines of credit

$ 450,000,000

Weighted average interest rate of total borrowings

Amended and Restated Commitment Letter | Subsequent Event

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

$ 4,000,000,000

5.00% Senior Notes due December 2029

Line of Credit Facility [Line Items]

Debt instrument, interest rate

Aggregate principal amount

$ 990,000,000

Senior Notes

Line of Credit Facility [Line Items]

Cash, cash equivalents and restricted cash

$ 990,000,000

Senior Notes | Subsequent Event

Line of Credit Facility [Line Items]

Redemption price, percentage

100%

0.50% Finisar Convertible Notes

Line of Credit Facility [Line Items]

Debt instrument, interest rate

0.50%

Redemption price, percentage

100%

Debt instrument, repurchase amount

$ 15,000,000

Debt conversion, shares issued | shares

Payment to settle conversion of debt and repurchase of notes

$ 300,000

0.25% Convertible Senior Note Due 2022

Line of Credit Facility [Line Items]

Interest expense

$ 875,000

$ 874,000

$ 876,000

Debt instrument, interest rate

0.25%

Aggregate principal amount

$ 345,000,000

Interest expense

$ 2,822,000

$ 13,000,000

14,622,000

$ 14,048,000

Basic earnings per share (in usd per share) | $ / shares

$ (0.09)

Diluted earnings per common share (in usd per share) | $ / shares

$ 0.02

Debt instrument conversion, shares issued per $1,000 principal amount

0.02125

Debt instrument conversion, conversion price per share | $ / shares

$ 47.06

Debt instrument conversion, If-converted value of notes

$ 370,000,000

$ 532,000,000

Number of days within 30 consecutive trading days in which the closing price of the entity's common stock must exceed the conversion price for the notes to be convertible into common stock | d

Number of consecutive trading days during which the closing price of the entity's common stock must exceed the conversion price for at least 20 days in order for the notes to be convertible into common stock | d

Percentage of the closing sales price of the entity's common stock that the conversion price must exceed in order for the notes to be convertible

130%

Business day period

5 days

Measurement period

5 days

Measurement period percentage

98%

Total debt conversions

$ 3,000,000

Effective interest rate

0.25% Convertible Senior Note Due 2022 | Common Stock

Line of Credit Facility [Line Items]

Debt conversion, shares issued | shares

74,000

0.25% Convertible Senior Note Due 2022 | Cumulative Effect, Period of Adoption, Adjustment

Line of Credit Facility [Line Items]

Current portion of long-term debt

$ (15,000,000)

Deferred taxes

3,000,000

Retained earnings

$ 11,000,000

Debt Instrument, Redemption, Period One | 5.00% Senior Notes due December 2029

Line of Credit Facility [Line Items]

Redemption price, percentage

100%

Debt Instrument, Redemption, Period Two | 5.00% Senior Notes due December 2029

Line of Credit Facility [Line Items]

Redemption of principal amount, percentage

40%

Debt Instrument, Redemption, Period Three | 5.00% Senior Notes due December 2029

Line of Credit Facility [Line Items]

Redemption price, percentage

105%

Bank of America, N.A.

Line of Credit Facility [Line Items]

Swing loan sub-facility maximum initial borrowing capacity

$ 20,000,000

Senior Secured Credit Facility | Minimum

Line of Credit Facility [Line Items]

Interest coverage ratio

Senior Secured Credit Facility | Federal Funds Rate

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

0.50%

Senior Secured Credit Facility | Euro Rate Option

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

Senior Secured Credit Facility | First Four Fiscal Quarters After Closing Date | Maximum

Line of Credit Facility [Line Items]

Leverage ratio

Senior Secured Credit Facility | Fifth Fiscal Quarter Through Eighth Fiscal Quarter After Closing Date

Line of Credit Facility [Line Items]

Leverage ratio

4.50

Senior Secured Credit Facility | Subsequent Fiscal Quarter

Line of Credit Facility [Line Items]

Leverage ratio

Senior Secured Credit Facility | Bank of America, N.A.

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

2,425,000,000

$ 2,425,000,000

Number of days credit facilities, outstanding become due and payable, prior to maturity of convertible notes

120 days

Term A Loan Facility | LIBOR

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

1.375%

Term A Loan Facility | Bank of America, N.A.

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

1,255,000,000

$ 1,255,000,000

Debt instrument term

5 years

Redemption of principal amount, percentage

1.25%

Term B Loan Facility | Bank of America, N.A.

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

720,000,000

$ 720,000,000

Debt instrument term

7 years

Revolving Credit Facility | Subsequent Event

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

$ 350,000,000

Revolving Credit Facility | LIBOR | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

Revolving Credit Facility | LIBOR | Term A Facility and Revolving Credit Facility | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

Revolving Credit Facility | LIBOR | Minimum | Term A Facility and Revolving Credit Facility | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

1.75%

Revolving Credit Facility | LIBOR | Maximum | Term A Facility and Revolving Credit Facility | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

2.50%

Revolving Credit Facility | Bank of America, N.A.

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

450,000,000

$ 450,000,000

Debt instrument term

5 years

Letter of Credit | Subsequent Event

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

$ 50,000,000

Letter of Credit | Bank of America, N.A.

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

$ 25,000,000

New Senior Credit Facilities | Amended and Restated Commitment Letter

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

$ 5,000,000,000

New Term Loan A Credit Facility | Subsequent Event

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

$ 850,000,000

New Term Loan A Credit Facility | LIBOR | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

New Term Loan A Credit Facility | LIBOR | Term A Facility and Revolving Credit Facility | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

New Term Loan A Credit Facility | LIBOR | Minimum | Term A Facility and Revolving Credit Facility | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

1.75%

New Term Loan A Credit Facility | LIBOR | Maximum | Term A Facility and Revolving Credit Facility | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

2.50%

New Term Facilities | Subsequent Event

Line of Credit Facility [Line Items]

Credit facility, aggregate principal amount

$ 2,800,000,000

New Term Loan B Credit Facility | New Term Loan B Credit Facility

Line of Credit Facility [Line Items]

Interest expense

34,000,000

New Term Loan B Credit Facility | LIBOR | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

2.75%

New Term Loan B Credit Facility | LIBOR | New Term Loan B Credit Facility | Subsequent Event

Line of Credit Facility [Line Items]

Debt instrument, rate added on variable rate

0.50%

Bridge Loan

Line of Credit Facility [Line Items]

Interest expense

$ 3,000,000

Aggregate principal amount

$ 990,000,000

Debt - Summary of Total Interes

Debt - Summary of Total Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Amortization of debt discount and debt issuance costs including initial purchaser discount		$ 18,807	$ 20,732	$ 22,150
0.25% Convertible Senior Note Due 2022
Debt Instrument [Line Items]
Debt instrument, interest rate	0.25%	0.25%
0.25% contractual coupon	$ 875		874	876
Amortization of debt discount and debt issuance costs including initial purchaser discount	1,947		13,748	13,172
Interest expense	$ 2,822	$ 13,000	$ 14,622	$ 14,048

Income Taxes - Components of Ea

Income Taxes - Components of Earnings (Losses) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
U.S. income (loss)	$ (62,721)	$ 21,692	$ (302,027)
Non-U.S. income	344,528	330,898	238,099
Earnings (loss) before income taxes	$ 281,807	$ 352,590	$ (63,928)

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Current:
Federal	$ 1,569	$ 415	$ 7
State	768	1,632	496
Foreign	52,865	53,362	45,052
Total Current	55,202	55,409	45,555
Deferred:
Federal	(7,185)	13,744	(43,955)
State	(1,215)	(431)	1,007
Foreign	246	(13,684)	494
Total Deferred	(8,154)	(371)	(42,454)
Total Income Tax Expense	$ 47,048	$ 55,038	$ 3,101

Income Taxes - Schedule of Prin

Income Taxes - Schedule of Principal Items Comprising Deferred Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Deferred income tax assets
Inventory capitalization	$ 20,562	$ 20,753
Interest rate swap	0	6,347
Non-deductible accruals	8,403	7,437
Accrued employee benefits	11,320	14,025
Net-operating loss and credit carryforwards	149,949	163,717
Share-based compensation expense	10,125	8,400
Other	3,565	1,832
Deferred revenue	12,416	7,124
Right of use asset	29,817	33,341
Valuation allowances	(55,420)	(53,765)
Total deferred income tax assets	190,737	209,211
Deferred income tax liabilities
Tax over book accumulated depreciation	(28,701)	(32,692)
Intangible assets	(134,972)	(153,582)
Tax on unremitted earnings	(26,383)	(21,569)
Convertible debt	0	(3,321)
Lease liability	(28,983)	(32,053)
Other	(7,036)	(6,458)
Total deferred income tax liabilities	(236,282)	(249,675)
Net deferred income taxes	(45,545)	(40,464)
Interest Rate Swap
Deferred income tax liabilities
Interest Rate swap/cap	(6,105)	0
Interest Rate Cap
Deferred income tax liabilities
Interest Rate swap/cap	$ (4,102)	$ 0

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Income Tax Expense at Statutory U.S. Federal Rate to Reported Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Taxes at statutory rate	$ 59,179	$ 74,044	$ (13,425)
Increase (decrease) in taxes resulting from:
State income taxes-net of federal benefit	(339)	1,246	1,194
Taxes on non U.S. earnings	(2,704)	(26,557)	(915)
Valuation allowance	(1,513)	(3,720)	(9,365)
Research and manufacturing incentive deductions and credits	(24,341)	(22,968)	(15,836)
Stock compensation	2,095	(2,500)	4,334
GILTI and FDII	4,866	27,369	36,067
Other	9,805	8,124	1,047
Total Income Tax Expense	$ 47,048	$ 55,038	$ 3,101
Increase (decrease) in taxes resulting from:
Taxes at statutory rate	21%	21%	21%
State income taxes-net of federal benefit, rate	0%	0%	(2.00%)
Taxes on non U.S. earnings, rate	(1.00%)	(7.00%)	1%
Valuation allowance, rate	(1.00%)	(1.00%)	15%
Research and manufacturing incentive deductions and credits, rate	(9.00%)	(6.00%)	25%
Stock compensation, rate	1%	(1.00%)	(7.00%)
GILTI and FDII, rate	2%	8%	(56.00%)
Other, rate	4%	2%	(2.00%)
Total Effective Income Tax, rate	17%	16%	(5.00%)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
Income Taxes - Additional Information (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2018	Jun. 30, 2019
Income Tax Contingency [Line Items]
Deferred income taxes unremitted foreign earnings				$ 0
Estimated associated withholding tax related to previously taxed earnings				$ 26,000,000
Income taxes paid, net	$ 50,000,000	$ 60,393,000	$ 39,521,000
Effective income tax rate, reductions	1.60%	3.22%	(8.91%)
Interest and penalties recognized within income tax expense (benefit)	$ 400,000	$ 300,000	$ 600,000
Interest and penalties accrued	3,000,000	3,000,000	4,000,000
Unrecognized tax benefits for uncertain tax positions expected to be paid within a year	37,411,000	38,025,000	42,803,000		$ 11,520,000
Unrecognized tax benefits that would impact effective tax rate	25,000,000	$ 26,000,000	$ 24,000,000
Unrecognized tax benefits expected decrease during the next 12 months	$ 2,000,000
Foreign Taxing Jurisdictions
Income Tax Contingency [Line Items]
Impact of income tax holiday on diluted earnings per share (in usd per share)	$ 0.04	$ 0.10	$ 0.07

Income Taxes - Schedule of Gros

Income Taxes - Schedule of Gross Operating Loss Carryforwards and Tax Credit Carryforwards (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Federal
Operating loss carryforwards:
Loss carryforwards	$ 42,012
Foreign
Tax credit carryforwards:
Tax credit carryforwards	3,540
Operating loss carryforwards:
Loss carryforwards	15,608
Loss carryforwards, Indefinite	38,600
State
Tax credit carryforwards:
Tax credit carryforwards	15,632
Tax credit carryforwards, Indefinite	39,243
Operating loss carryforwards:
Loss carryforwards	182,178
Loss carryforwards, Indefinite	25,899
Federal research and development credits \| Federal
Tax credit carryforwards:
Tax credit carryforwards	$ 83,063

Income Taxes - Schedule of Chan

Income Taxes - Schedule of Changes in Liability for Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 38,025	$ 42,803	$ 11,520
Increases in current year tax positions	1,803	3,940	1,506
Acquired business	0	5,341	31,791
Settlements	0	(7,514)	0
Expiration of statute of limitations	(2,417)	(6,545)	(2,014)
Ending balance	$ 37,411	$ 38,025	$ 42,803

Equity and Redeemable Preferr_3

Equity and Redeemable Preferred Stock - Narrative (Details) $ / shares in Units, $ in Millions				1 Months Ended	12 Months Ended
	Jul. 01, 2022 USD ($) $ / shares shares	Jun. 08, 2021 USD ($)	Mar. 31, 2021 USD ($) d $ / shares shares	Jul. 31, 2020 y d $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares	Jul. 02, 2020
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)					5,000,000	5,000,000
Series A Mandatory Convertible Preferred Stock \| Expected Term
Class of Stock [Line Items]
Measurement input \| y				3
Series A Mandatory Convertible Preferred Stock \| Risk Free Interest Rate
Class of Stock [Line Items]
Measurement input				0.002
Series A Mandatory Convertible Preferred Stock \| Dividend Yield
Class of Stock [Line Items]
Measurement input				0			0
Series A Mandatory Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)					2,300,000	2,300,000
Preferred stock, par value (in usd per share) \| $ / shares					$ 0	$ 0
Convertible preferred stock, right to convert, into common stock (in shares)				1
Mandatory convertible preferred stock, holder, days after effective date of change \| d				20
Series A Mandatory Convertible Preferred Stock \| Dividend Declared
Class of Stock [Line Items]
Accrued preferred stock dividends \| $					$ 28	$ 27
Series A Mandatory Convertible Preferred Stock \| Underwritten Public Offering
Class of Stock [Line Items]
Preferred stock, par value (in usd per share) \| $ / shares				$ 0
Shares issued and sold (in shares)				2,300,000
Preferred stock, dividend rate, percentage				6%
Series A Mandatory Convertible Preferred Stock \| Underwritten Public Offering \| Minimum
Class of Stock [Line Items]
Convertible preferred stock, shares issued upon conversion (in shares)				3.8760
Series A Mandatory Convertible Preferred Stock \| Underwritten Public Offering \| Maximum
Class of Stock [Line Items]
Convertible preferred stock, shares issued upon conversion (in shares)				4.6512
Series B Redeemable Preferred Stock
Class of Stock [Line Items]
Redeemable convertible preferred stock, shares authorized (in shares)					215,000	215,000
Redeemable convertible preferred stock, par value (in usd per share) \| $ / shares					$ 0	$ 0
Redeemable convertible preferred stock, shares issued (in shares)					75,000	75,000
Convertible preferred stock shares issued (in shares)						75,000
Series B-1 Convertible Preferred Stock
Class of Stock [Line Items]
Redeemable convertible preferred stock, par value (in usd per share) \| $ / shares			$ 0
Shares issued and sold (in shares)			75,000
Preferred stock, dividend rate, percentage			5%
Equity per share price (in usd per share) \| $ / shares			$ 10,000
Aggregate purchase price of stock sold \| $			$ 750
Debt instrument conversion, conversion price per share \| $ / shares			$ 85
Common stock , conversion, if volume weighted average price, percentage exceeds applicable conversion price			150%
Trading days \| d			20
Consecutive trading days \| d			30
Default on payment obligation, cure period			30 days
Default on payment obligation, dividend rate, quarterly increase, percentage			2%
Preferred stock, accretion of redemption value, period			10 years
Series B-1 Convertible Preferred Stock \| Minimum
Class of Stock [Line Items]
Preferred stock, default on payment obligation, dividend rate, percentage			8%
Series B-1 Convertible Preferred Stock \| Maximum
Class of Stock [Line Items]
Preferred stock, default on payment obligation, dividend rate, percentage			14%
Preferred Stock
Class of Stock [Line Items]
Accrued preferred stock dividends \| $					$ 41
Series B-2 Convertible Preferred Stock
Class of Stock [Line Items]
Redeemable convertible preferred stock, par value (in usd per share) \| $ / shares					$ 0
Aggregate purchase price of stock sold \| $					$ 1,050
Convertible preferred stock shares issued (in shares)					105,000
Series B-2 Convertible Preferred Stock \| Subsequent Event
Class of Stock [Line Items]
Shares issued and sold (in shares)	140,000
Equity per share price (in usd per share) \| $ / shares	$ 10,000
Aggregate purchase price of stock sold \| $	$ 1,400
Series B-2 Convertible Preferred Stock \| Over-Allotment Option
Class of Stock [Line Items]
Shares issued and sold (in shares)					35,000
Aggregate purchase price of stock sold \| $		$ 2,150			$ 350

Equity and Redeemable Preferr_4

Equity and Redeemable Preferred Stock - Inputs Used to Estimate Future Market Value (Details) - Series A Mandatory Convertible Preferred Stock	Jul. 31, 2020	Jul. 02, 2020
Expected Volatility \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.50
Expected Volatility \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.55
Cost of Equity \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.14
Cost of Equity \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.17
Dividend Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0

Equity and Redeemable Preferr_5

Equity and Redeemable Preferred Stock - Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Preferred stock dividends	$ 68,225	$ 37,231	$ 0
Series A Mandatory Convertible Preferred Stock
Class of Stock [Line Items]
Dividends per share (in usd per share)	$ 12	$ 11.80
Preferred stock dividends	$ 27,600	$ 27,140
Series B-1 Convertible Preferred Stock
Class of Stock [Line Items]
Dividends per share (in usd per share)	$ 541.66	$ 134.55
Preferred stock dividends	$ 38,598	$ 9,583
Deemed dividends ($000)	$ 2,027	$ 508

Earnings Per Share - Computatio

Earnings Per Share - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Add back interest on II-VI Convertible Notes (net of tax)
Net earnings (loss)	$ 234,759	$ 297,552	$ (67,029)
Deduct preferred stock dividends	(68,225)	(37,231)	0
Net Earnings (Loss) available to the Common Shareholder	166,534	260,321	(67,029)
Add back interest on Convertible Senior Notes Due 2022	2,229	12,264	0
Net earnings (loss) available to Common Shareholders	$ 168,763	$ 272,585	$ (67,029)
Denominator
Weighted average shares (in shares)	106,189	104,151	84,828
Effect of dilutive securities:
Stock options, performance and restricted shares (in shares)	3,012	3,552	0
Diluted weighted average common shares (in shares)	116,513	115,034	84,828
Basic earnings (loss) per common share (in usd per share)	$ 1.57	$ 2.50	$ (0.79)
Diluted earnings per common share (in usd per share)	$ 1.45	$ 2.37	$ (0.79)
II-VI Convertible Notes
Effect of dilutive securities:
II-VI Notes due 2022 (in shares)	7,312	7,331	0
Basic earnings (loss) per common share (in usd per share)	$ 0.09
Diluted earnings per common share (in usd per share)	$ (0.02)
Series A Preferred Stock
Add back interest on II-VI Convertible Notes (net of tax)
Deduct preferred stock dividends	$ (27,600)	$ (27,140)	$ 0
Series B Convertible Preferred Stock
Add back interest on II-VI Convertible Notes (net of tax)
Deduct Series B redeemable preferred deemed dividend	$ (40,625)	$ (10,091)	$ 0

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Potential Shares of Common Stock Excluded from the Calculation of Diluted Net Income Per Share (Details) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares	27,688	11,263	9,676
Series A Mandatory Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares	8,915	8,915	0
Series B Redeemable Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares	9,162	2,230	0
Convertible Debt Securities \| II-VI Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares	0	0	7,331
Common stock equivalents
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares	9,611	118	2,345

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs, Including Short-Term Leases, Lease Term, and Discount Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Finance Lease Cost
Amortization of right-of-use assets	$ 1,671	$ 1,667	$ 1,667
Interest on lease liabilities	1,200	1,268	1,328
Total finance lease cost	2,871	2,935	2,995
Operating lease cost	36,716	37,361	32,466
Sublease income	507	1,471	368
Total lease cost	39,080	38,825	35,093
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating cash flows from finance leases	1,200	1,268	1,328
Operating cash flows from operating leases	35,481	35,641	30,816
Financing cash flows from finance leases	1,290	1,152	1,026
Assets Obtained in Exchange for Lease Liabilities
Right-of-use assets obtained in acquisitions	0	13,391	29,247
Right-of-use assets obtained in exchange for new operating lease liabilities	18,161	52,839	29,458
Total assets obtained in exchange for new operating lease liabilities	$ 18,161	$ 66,230	$ 58,705
Weighted-Average Remaining Lease Term (in Years)
Finance leases	9 years 6 months	10 years 6 months	11 years 6 months
Operating leases	6 years 7 months 6 days	7 years	7 years 2 months 12 days
Weighted-Average Discount Rate
Finance leases	5.60%	5.60%	5.60%
Operating leases	5.70%	6.10%	7.30%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Including Short Term Leases (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Operating Leases
Year 1	$ 34,062
Year 2	29,923
Year 3	24,830
Year 4	19,816
Year 5	15,532
Thereafter	47,284
Total minimum lease payments	171,447
Less: amounts representing interest	$ 33,659
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Present value of total operating lease liabilities	$ 137,788
Finance Leases
Year 1	2,554
Year 2	2,624
Year 3	2,697
Year 4	2,771
Year 5	2,847
Thereafter	13,801
Total minimum lease payments	27,294
Less: amounts representing interest	6,284
Present value of total finance lease liabilities	21,010
Total
Year 1	36,616
Year 2	32,547
Year 3	27,527
Year 4	22,587
Year 5	18,379
Thereafter	61,085
Total minimum lease payments	198,741
Less: amounts representing interest	39,943
Present value of total lease liabilities	$ 158,798

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	12 Months Ended
Leases - Additional Information (Details) $ in Millions	Jun. 30, 2022 USD ($) customer	Jun. 30, 2021 USD ($) customer
Leases [Abstract]
Number of customer that company entered into commercial agreement \| customer	1	1
Payments from customer \| $	$ 23	$ 8

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional option issued (in shares)	0	0
Dividend yield	0%		0%
Aggregate intrinsic value of stock options and cash-based stock appreciation rights, outstanding	$ 48	$ 88	$ 80
Aggregate intrinsic value of stock options and cash-based stock appreciation rights, exercised	48	88	80
Total intrinsic value of stock options and cash-based stock appreciation rights, exercised	$ 8	49	$ 20
Unrecognized compensation cost, weighted-average period of recognition, years	1 year
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance share grant, period	12 months
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance share grant, period	36 months
Stock Options and Cash-Based Stock Appreciation Rights
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average fair values of stock options granted under the stock option Plan (in USD per share)			$ 14.79
Share based compensation expense attributable to non-vested shares	$ 3
Restricted Share Awards, Restricted Share Units, and Cash-Based Restricted Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense attributable to non-vested shares	$ 58
Unrecognized compensation cost, weighted-average period of recognition, years	2 years
Share based compensation, vesting period years	3 years
Total fair value of restricted stock grant	$ 54	59	$ 11
Total fair value of restricted stock vested	$ 67	69	75
Shares issued (in shares)	0
Performance Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense attributable to non-vested shares	$ 10
Unrecognized compensation cost, weighted-average period of recognition, years	1 year 9 months
Share based compensation, vesting period years	3 years
Total fair value of restricted stock grant	$ 14	14	15
Total fair value of restricted stock vested	$ 11	$ 9	$ 6
Shares issued, percentage of target award based on actual results	200%
Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock authorized for issuance under the Plan (in shares)	9,550,000
Shares available to be issued under the Plan (in shares)	7,000,000

Share-Based Compensation - Expe

Share-Based Compensation - Expense by Award Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense	$ 69,660	$ 74,326	$ 73,827
Stock Options and Cash-Based Stock Appreciation Rights
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense	3,218	10,626	11,893
Restricted Share Awards, Restricted Share Units, and Cash-Based Restricted Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense	56,365	47,060	49,957
Performance Share Units and Cash Based Performance Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense	$ 10,077	$ 16,640	$ 11,977

Share-Based Compensation - Fair

Share-Based Compensation - Fair Value Assumptions for Stock Option and Stock Appreciation Rights (Details)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Risk-free interest rate		1.50%
Expected volatility		39%
Expected life of options		6 years 10 months 28 days
Dividend yield	0%	0%

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option and Cash-Based Stock Appreciation Rights Activity (Details)	12 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares
Outstanding- Beginning (in shares) \| shares	2,642,634
Exercised (in shares) \| shares	(188,015)
Forfeitures and Expired (in shares) \| shares	(21,729)
Outstanding - Ending (in shares) \| shares	2,432,890
Exercisable - Ending (in shares) \| shares	1,990,721
Weighted Average Exercise Price
Outstanding - Beginning (in usd per share) \| $ / shares	$ 29.26
Exercised (in usd per share) \| $ / shares	26.78
Forfeited and Expired (in usd per share) \| $ / shares	30.78
Outstanding - Ending (in usd per share \| $ / shares	29.41
Exercisable - Ending (in usd per share) \| $ / shares	$ 27.61
Cash-Based Stock Appreciation Rights
Number of Rights
Outstanding - Beginning (in shares) \| shares	145,334
Exercised (in shares) \| shares	(14,054)
Forfeited and Expired (in shares) \| shares	(3,718)
Outstanding - Ending (in shares) \| shares	127,562
Exercisable - Ending (in shares) \| shares	86,211
Weighted Average Exercise Price
Outstanding - Beginning (in usd per share) \| $ / shares	$ 33.80
Exercised (in usd per share) \| $ / shares	37
Forfeited and Expired (in usd per share) \| $ / shares	35.80
Outstanding - Ending (in usd per share) \| $ / shares	33.39
Exercisable - Ending (in usd per share) \| $ / shares	$ 30.86

Share-Based Compensation - Outs

Share-Based Compensation - Outstanding and Exercisable Options (Details)	12 Months Ended
	Jun. 30, 2022 $ / shares shares
Stock Options and Cash-Based Stock Appreciation Rights
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Number of Shares (in shares) \| shares	2,560,452
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Remaining Contractual Term (Years)	4 years 10 months 2 days
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Exercise Price (in usd per share)	$ 29.60
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Number of Shares (in shares) \| shares	2,076,932
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Remaining Contractual Term (Years)	4 years 3 months 25 days
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Exercise Price (in usd per share)	$ 27.74
$13.34 - $18.07
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, lower range (in usd per share)	13.34
Range of Exercise Prices, upper range (in usd per share)	$ 18.07
$13.34 - $18.07 \| Stock Options and Cash-Based Stock Appreciation Rights
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Number of Shares (in shares) \| shares	549,192
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Remaining Contractual Term (Years)	2 years 7 months 13 days
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Exercise Price (in usd per share)	$ 16.14
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Number of Shares (in shares) \| shares	549,192
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Remaining Contractual Term (Years)	2 years 7 months 13 days
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Exercise Price (in usd per share)	$ 16.14
$18.07 - $24.35
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, lower range (in usd per share)	18.07
Range of Exercise Prices, upper range (in usd per share)	$ 24.35
$18.07 - $24.35 \| Stock Options and Cash-Based Stock Appreciation Rights
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Number of Shares (in shares) \| shares	596,310
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Remaining Contractual Term (Years)	3 years 2 months 23 days
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Exercise Price (in usd per share)	$ 20.96
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Number of Shares (in shares) \| shares	590,046
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Remaining Contractual Term (Years)	3 years 2 months 8 days
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Exercise Price (in usd per share)	$ 20.87
$24.35 - $35.39
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, lower range (in usd per share)	24.35
Range of Exercise Prices, upper range (in usd per share)	$ 35.39
$24.35 - $35.39 \| Stock Options and Cash-Based Stock Appreciation Rights
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Number of Shares (in shares) \| shares	490,512
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Remaining Contractual Term (Years)	5 years 8 months 19 days
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Exercise Price (in usd per share)	$ 33.29
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Number of Shares (in shares) \| shares	401,104
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Remaining Contractual Term (Years)	5 years 3 months 29 days
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Exercise Price (in usd per share)	$ 34.10
$35.39 - $36.90
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, lower range (in usd per share)	35.39
Range of Exercise Prices, upper range (in usd per share)	$ 36.90
$35.39 - $36.90 \| Stock Options and Cash-Based Stock Appreciation Rights
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Number of Shares (in shares) \| shares	541,065
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Remaining Contractual Term (Years)	7 years 2 months 8 days
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Exercise Price (in usd per share)	$ 36.46
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Number of Shares (in shares) \| shares	254,550
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Remaining Contractual Term (Years)	7 years 1 month 20 days
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Exercise Price (in usd per share)	$ 36.45
$36.90 - $49.90
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, lower range (in usd per share)	36.90
Range of Exercise Prices, upper range (in usd per share)	$ 49.90
$36.90 - $49.90 \| Stock Options and Cash-Based Stock Appreciation Rights
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Number of Shares (in shares) \| shares	383,373
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Remaining Contractual Term (Years)	6 years 29 days
Stock Options and Cash-Based Stock Appreciation Rights Outstanding, Weighted Average Exercise Price (in usd per share)	$ 47.94
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Number of Shares (in shares) \| shares	282,040
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Remaining Contractual Term (Years)	6 years 7 days
Stock Options and Cash-Based Stock Appreciation Rights Exercisable, Weighted Average Exercise Price (in usd per share)	$ 47.85

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Share, Restricted Share Unit and Cash-Based Restricted Share Unit Activity (Details)	12 Months Ended
	Jun. 30, 2022 $ / shares shares
Restricted Share Units
Number of Shares /Units
Nonvested - Beginning (in shares) \| shares	2,326,172
Granted (in shares) \| shares	849,467
Vested (in shares) \| shares	(1,117,600)
Forfeited (in shares) \| shares	(159,861)
Nonvested - Ending (in shares) \| shares	1,898,178
Weighted Average Grant Date Fair Value
Nonvested - Beginning (in usd per share) \| $ / shares	$ 43.67
Granted (in usd per share) \| $ / shares	63.63
Vested (in usd per share) \| $ / shares	40.67
Forfeited (in usd per share) \| $ / shares	44.87
Nonvested - Ending (in usd per share) \| $ / shares	$ 54.24
Cash-Based Restricted Share Units
Number of Shares /Units
Nonvested - Beginning (in shares) \| shares	45,873
Granted (in shares) \| shares	3,538
Vested (in shares) \| shares	(26,589)
Forfeited (in shares) \| shares	(2,344)
Nonvested - Ending (in shares) \| shares	20,478
Weighted Average Grant Date Fair Value
Nonvested - Beginning (in usd per share) \| $ / shares	$ 38.75
Granted (in usd per share) \| $ / shares	63.60
Vested (in usd per share) \| $ / shares	40.48
Forfeited (in usd per share) \| $ / shares	45.29
Nonvested - Ending (in usd per share) \| $ / shares	$ 40.05

Share-Based Compensation - Perf

Share-Based Compensation - Performance Share Award Activity (Details)	12 Months Ended
	Jun. 30, 2022 $ / shares shares
Performance Share Units and Cash Based Performance Share Units
Number of Shares
Nonvested - Beginning (in shares) \| shares	518,309
Granted (in shares) \| shares	167,764
Vested (in shares) \| shares	(200,611)
Forfeited (in shares) \| shares	(16,407)
Performance Adjustments (in shares) \| shares	122,530
Nonvested - Ending (in shares) \| shares	591,585
Weighted Average Grant Date Fair Value
Nonvested - Beginning (in usd per share) \| $ / shares	$ 45.28
Granted (in usd per share) \| $ / shares	83.03
Vested (in usd per share) \| $ / shares	62.69
Forfeited (in usd per share) \| $ / shares	53.49
Performance Adjustments (in usd per share) \| $ / shares	0
Nonvested - Ending (in usd per share) \| $ / shares	$ 40.48
Cash-Based Performance Share Units
Number of Shares
Nonvested - Beginning (in shares) \| shares	27,724
Granted (in shares) \| shares	0
Vested (in shares) \| shares	(23,514)
Forfeited (in shares) \| shares	0
Performance Adjustments (in shares) \| shares	13,914
Nonvested - Ending (in shares) \| shares	18,124
Weighted Average Grant Date Fair Value
Nonvested - Beginning (in usd per share) \| $ / shares	$ 39.43
Granted (in usd per share) \| $ / shares	0
Vested (in usd per share) \| $ / shares	49.90
Forfeited (in usd per share) \| $ / shares	0
Performance Adjustments (in usd per share) \| $ / shares	49.90
Nonvested - Ending (in usd per share) \| $ / shares	$ 33.88

Segment and Geographic Report_3

Segment and Geographic Reporting - Additional Information (Details)	12 Months Ended
	Jun. 30, 2022 Segment customerEndMarket
Segment Reporting [Abstract]
Number of reporting segments \| Segment	2
Number of customer end markets \| customerEndMarket	7

Segment and Geographic Report_4

Segment and Geographic Reporting - Financial Information of Company's Operation by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Net revenues	$ 3,316,616	$ 3,105,891	$ 2,380,071
Inter-segment revenues	0	0	0
Operating income (loss)	414,294	402,119	39,479
Interest expense	(121,254)	(59,899)	(89,409)
Other income, net	(11,233)	10,370	(13,998)
Income taxes	(47,048)	(55,038)	(3,101)
Net Earnings (Loss)	234,759	297,552	(67,029)
Depreciation and amortization	286,779	270,069	220,882
Expenditures for property, plant & equipment	314,332	146,337	136,877
Segment assets	7,844,846	6,512,650	5,234,714
Goodwill	1,285,759	1,296,727	1,239,009
Photonic Solutions
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Goodwill	1,048,743	1,053,028	1,052,494
Compound Semiconductors
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Goodwill	237,016	243,699	186,515
Operating Segments \| Photonic Solutions
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Net revenues	2,226,196	2,038,284	1,536,790
Inter-segment revenues	36,898	35,358	31,515
Operating income (loss)	230,094	207,652	49,930
Interest expense	0	0	0
Other income, net	0	0	0
Income taxes	0	0	0
Net Earnings (Loss)	0	0	0
Depreciation and amortization	172,851	161,208	112,203
Expenditures for property, plant & equipment	89,818	87,304	45,795
Segment assets	4,875,053	4,231,289	3,502,467
Goodwill	1,048,743	1,053,028	1,052,494
Operating Segments \| Compound Semiconductors
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Net revenues	1,090,420	1,067,607	821,230
Inter-segment revenues	329,342	244,407	164,884
Operating income (loss)	220,070	221,239	62,279
Interest expense	0	0	0
Other income, net	0	0	0
Income taxes	0	0	0
Net Earnings (Loss)	0	0	0
Depreciation and amortization	113,928	108,861	104,936
Expenditures for property, plant & equipment	224,514	59,033	88,318
Segment assets	2,969,793	2,281,361	1,732,247
Goodwill	237,016	243,699	186,515
Unallocated & Other
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Net revenues	0	0	22,051
Inter-segment revenues	(366,240)	(279,765)	(196,399)
Operating income (loss)	(35,870)	(26,772)	(72,730)
Interest expense	0	0	0
Other income, net	0	0	0
Income taxes	0	0	0
Net Earnings (Loss)	0	0	0
Depreciation and amortization	0	0	3,743
Expenditures for property, plant & equipment	0	0	2,764
Segment assets	0	0	0
Goodwill	$ 0	$ 0	$ 0

Segment and Geographic Report_5

Segment and Geographic Reporting - Geographical Information of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Revenues From External Customers And Long Lived Assets [Line Items]
Net revenues	$ 3,316,616	$ 3,105,891	$ 2,380,071
North America
Revenues From External Customers And Long Lived Assets [Line Items]
Net revenues	1,771,385	1,560,254	1,085,146
Europe
Revenues From External Customers And Long Lived Assets [Line Items]
Net revenues	623,157	567,703	437,908
China
Revenues From External Customers And Long Lived Assets [Line Items]
Net revenues	614,393	680,479	483,393
Japan
Revenues From External Customers And Long Lived Assets [Line Items]
Net revenues	196,512	203,655	183,587
Rest of World
Revenues From External Customers And Long Lived Assets [Line Items]
Net revenues	$ 111,169	$ 93,800	$ 190,038

Segment and Geographic Report_6

Segment and Geographic Reporting - Geographical Information of Long Lived Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	$ 1,558,057	$ 1,381,523
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	902,163	737,151
Non-United States
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	655,894	644,372
China
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	394,056	402,987
United Kingdom
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	63,898	60,090
Malaysia
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	64,807	53,187
Rest of World
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	40,540	37,121
Sweden
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	28,030	27,374
Rest of Asia
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	14,521	16,703
Australia
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	10,478	13,627
Vietnam
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	16,844	10,246
Philippines
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	7,375	7,890
Taiwan
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	7,025	6,532
Korea
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	4,325	4,595
Hong Kong
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	1,645	2,104
Other
Revenues From External Customers And Long Lived Assets [Line Items]
Long-Lived Assets	$ 2,350	$ 1,916

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Feb. 23, 2022	Nov. 24, 2019
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount	$ 825		$ 1,075
Fixed interest rate			1.52%
Floor interest rate			0%
Derivative asset	27
Interest Rate Cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed interest rate		0.853%
Derivative asset	18
Derivative, trigger for right to receive payment, percent		1.85%
Interest Rate Cap \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount		$ 500
Interest Rate Cap \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount		$ 1,500
Foreign Currency Forward Exchange Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized losses on derivatives	$ (27)

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Fair Value and Carrying Value of II-VI Notes and Senior Notes (Details) $ in Thousands	Jun. 30, 2022 USD ($)
I I V I Convertible Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes fair value	$ 382,601
Convertible notes carrying value	341,162
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes fair value	865,527
Convertible notes carrying value	$ 982,297

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Contributions to profit sharing retirement plan	$ 2,000	$ 2,000	$ 6,000
Pension adjustments, net	(15,719)	(2,347)	$ 3,108
Swiss Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	2,000	4,000
Pension liability	4,000	25,000
Pension adjustments, net	(16,000)	(2,000)
Accumulated benefit obligation	$ 81,000	$ 90,000

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Estimated Future Benefit Payments Under Swiss Plan (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2023	$ 6,700
2024	5,300
2025	6,700
2026	8,900
2027	4,600
Next five years	$ 41,200

Other Accrued Liabilities - Com

Other Accrued Liabilities - Components of Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Contract liabilities	$ 22,960	$ 13,926
Warranty reserves	17,738	21,868
Accrued interest	38,872	428
Other accrued liabilities	120,260	109,687
Other accrued liabilities	$ 199,830	$ 145,909

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Commitments, 2022	$ 491
Commitments, thereafter	$ 213

Share Repurchase Programs (Deta

Share Repurchase Programs (Details) - USD ($)	12 Months Ended			95 Months Ended
Share Repurchase Programs (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2022	Aug. 31, 2014
Equity [Abstract]
Share repurchase program, authorized amount					$ 50,000,000
Purchase of common stock (in shares)	0	0		1,416,587
Purchase of common stock			$ 1,625,000	$ 22,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income ("AOCI") by Component, Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 3,406,170	$ 2,076,803	$ 1,133,209
Other comprehensive income (loss) before reclassifications	(30,650)	86,013	(65,564)
Amounts reclassified from AOCI	14,216	15,637	2,402
Net current-period other comprehensive income	(16,434)	101,650	(63,162)
Ending Balance	3,616,475	3,406,170	2,076,803
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	14,267	(87,383)	(24,221)
Ending Balance	(2,167)	14,267	(87,383)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	55,395	(31,596)	(15,627)
Other comprehensive income (loss) before reclassifications	(89,967)	86,991	(15,969)
Amounts reclassified from AOCI	0	0	0
Net current-period other comprehensive income	(89,967)	86,991	(15,969)
Ending Balance	(34,572)	55,395	(31,596)
Interest Rate Swap/Interest Rate Cap \| Interest Rate Swap
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(31,773)	(44,085)	0
Other comprehensive income (loss) before reclassifications	29,711	(2,687)	(46,067)
Amounts reclassified from AOCI	13,797	14,999	1,982
Net current-period other comprehensive income	43,508	12,312	(44,085)
Ending Balance	11,735	(31,773)	(44,085)
Interest Rate Swap/Interest Rate Cap \| Interest Rate Cap
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	0	0	0
Other comprehensive income (loss) before reclassifications	14,306	0	0
Amounts reclassified from AOCI	0	0	0
Net current-period other comprehensive income	14,306	0	0
Ending Balance	14,306	0	0
Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(9,355)	(11,702)	(8,594)
Other comprehensive income (loss) before reclassifications	15,300	1,709	(3,528)
Amounts reclassified from AOCI	419	638	420
Net current-period other comprehensive income	15,719	2,347	(3,108)
Ending Balance	$ 6,364	$ (9,355)	$ (11,702)

SCHEDULE II (Details)

SCHEDULE II (Details) - USD ($) $ in Thousands	12 Months Ended
SCHEDULE II (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Allowance for doubtful accounts
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ 924	$ 1,698	$ 1,292
Charged to Expense	3,292	301	956
Charged to Other Accounts	0	0	0
Deduction from Reserves	(10)	(1,075)	(550)
Balance at End of Year	4,206	924	1,698
Warranty reserves
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	21,868	27,620	4,478
Charged to Expense	7,718	2,134	11,507
Charged to Other Accounts	0	0	37,453
Deduction from Reserves	(11,848)	(7,886)	(25,818)
Balance at End of Year	17,738	21,868	27,620
Deferred tax asset valuation allowance
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	53,765	54,559	20,190
Charged to Expense	2,157	(2,545)	(2,186)
Charged to Other Accounts	(502)	1,751	36,555
Deduction from Reserves	0	0	0
Balance at End of Year	$ 55,420	$ 53,765	$ 54,559