Segment Information (Tables)

12 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Net Revenue and Segment EBITDA

The following table includes Segment EBITDA for each of the Company's current reporting segments during the fiscal years ended June 30, 2023, 2022, and 2021:

(Dollars in millions)	Fiscal Year Ended June 30,
	2023		2022		2021
Segment EBITDA reconciled to net (loss) earnings:
Biologics	$	277	$	777	$	615
Pharma and Consumer Health	548		589		498
Subtotal	$	825	$	1,366	$	1,113
Reconciling items to net (loss) earnings
Unallocated costs (1)	(559)		(286)		1
Depreciation and amortization	(422)		(378)		(289)
Interest expense, net	(186)		(123)		(110)
Income tax benefit (expense)	86		(80)		(130)
Net (loss) earnings	$	(256)	$	499	$	585

(1)    Unallocated costs include restructuring and special items, stock-based compensation, gain (loss) on sale of subsidiary, impairment charges, certain other corporate directed costs, and other costs that are not allocated to the segments as follows:

(Dollars in millions)	Fiscal Year Ended June 30,
	2023		2022		2021
Impairment charges and gain/loss on sale of assets (a)	$	(98)	$	(31)	$	(9)
Stock-based compensation	(35)		(54)		(51)
Restructuring and other special items (b)	(98)		(55)		(31)
Goodwill impairment charges(c)	(210)		—		—
Gain on sale of subsidiary (d)	—		1		182
Other income (expense), net (e)	7		(28)		(3)
Non-allocated corporate costs, net	(125)		(119)		(87)
Total unallocated costs	$	(559)	$	(286)	$	1

(a)    For the fiscal year ended June 30, 2023, impairment charges are primarily associated with an idle facility in the Biologics segment and obsolete equipment that could not be sold or repurposed in the Pharma and Consumer Health segment.

In the three months ended June 30, 2023, the Company identified an indicator of impairment related to one of its facilities in the Biologics segment given the plans to pause any additional spend on site development due to a lack of demand, leading to a partial impairment charge of $54 million. The Company primarily utilized a market and income approach for real property and a cost approach for personal property to record the partial impairment on its idle facility. Impairment charges are recorded in Other operating expense in the consolidated statements of operations.

Also, in the three months ended June 30, 2023, the Company identified an indicator of impairment related to obsolete equipment from a terminated project in the Pharma and Consumer Health segment, leading to a full impairment charge of $18 million.     

For the fiscal year ended June 30, 2022, impairment charges are primarily due to fixed asset impairment charges associated with dedicated equipment for a product the Company no longer manufactures in its Pharma and Consumer Health segment and obsolete equipment in its Biologics segment.

(b)    Restructuring and other special items for the fiscal year ended June 30, 2023 includes (i) restructuring charges associated with plans to reduce costs, consolidate facilities, and optimize our infrastructure across the organization and (ii) transaction and integration costs associated with the Metrics acquisition

Restructuring and other special items for the fiscal year ended June 30, 2022 include (i) transaction and integration costs primarily associated with the Princeton, Bettera Wellness, Delphi, Hepatic, Acorda, and RheinCell transactions and (ii) unrealized losses on venture capital investments.

Restructuring and other special items for the fiscal year ended June 30, 2021 include transaction and integration costs associated with the Anagni, Italy facility acquisition and the MaSTherCell Global, Inc., Skeletal, Delphi, and Acorda transactions, in addition to restructuring costs associated with the closure of the Company's Pharma and Consumer Health facility in Bolton, U.K.

(c)    The goodwill impairment charges for the fiscal year ended June 30, 2023 was associated with the Company’s Consumer Health reporting unit. For further details, see Note 4, Goodwill.

(d)    Gain on sale of subsidiary for the fiscal year ended June 30, 2022 was due to the sale of the Company’s facility and Blow-Fill-Seal business in Woodstock, Illinois.

(e)    Refer to Note 15, Other (income) expense, net for details of financing charges and foreign currency translation adjustments recorded within other (income) expense, net.

^[1],[2],[3]

Total Assets for Each Segment and Reconciling in Consolidated Financial Statements

The following table includes total assets for each segment, as well as reconciling items necessary to total the amounts reported in the consolidated balance sheets.

Total Assets

(Dollars in millions)	June 30, 2023		June 30, 2022
Biologics	$	5,746	$	5,770
Pharma and Consumer Health	4,867		4,356
Corporate and eliminations	164		382
Total assets	$	10,777	$	10,508

Capital Expenditures by Segment

Capital Expenditures

	Fiscal Year Ended June 30,
(Dollars in millions)	2023		2022		2021
Biologics	$	346	$	453	$	516
Pharma and Consumer Health	214		183		151
Corporate	34		30		19
Total capital expenditures	$	594	$	666	$	686

Presentation of revenue and long-lived assets by geographic area

Long Lived Assets

The following table presents long-lived assets—consisting of property, plant, and equipment, net of accumulated depreciation—by geographic area:

(Dollars in millions)	June 30, 2023		June 30, 2022
United States	$	2,758	$	2,267
Europe	765		747
Other	159		113
Total	$	3,682	$	3,127

[1] Restructuring and other special items for the fiscal year ended June 30, 2021 include transaction and integration costs associated with the Anagni, Italy facility acquisition and the MaSTherCell Global, Inc., Skeletal, Delphi, and Acorda transactions, in addition to restructuring costs associated with the closure of the Company's Pharma and Consumer Health facility in Bolton, U.K.

[2] Refer to Note 15, Other (income) expense, net for details of financing charges and foreign currency translation adjustments recorded within other (income) expense, net.

[3] Unallocated costs include restructuring and special items, stock-based compensation, gain (loss) on sale of subsidiary, impairment charges, certain other corporate directed costs, and other costs that are not allocated to the segments as follows: