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SEGMENT REPORTING AND GEOGRAPHIC INFORMATION
 6 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
SEGMENT REPORTING AND GEOGRAPHIC INFORMATION SEGMENT REPORTING AND GEOGRAPHIC INFORMATION
ASC 280, Segment Reporting, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. Our CODM is our Chief Executive Officer.
We have four reportable segments: Semiconductor Process Control; Specialty Semiconductor Process; PCB, Display and Component Inspection; and Other. The reportable segments are determined based on several factors including, but not limited to, customer base, homogeneity of products, technology, delivery channels and similar economic characteristics.
Semiconductor Process Control
The Semiconductor Process Control (“SPC”) segment offers a comprehensive portfolio of inspection, metrology and data analytics products, and related service, which helps integrated circuit ("ICs") manufacturers achieve target yield throughout the entire semiconductor fabrication process-from research and development (“R&D”) to final volume production. Our differentiated products and services are designed to provide comprehensive solutions that help our customers accelerate development and production ramp cycles, achieve higher and more stable semiconductor die yields and improve their overall profitability. This reportable segment is comprised of two operating segments, Wafer Inspection and Patterning and GSS.
Specialty Semiconductor Process
The Specialty Semiconductor Manufacturing segment develops and sells advanced vacuum deposition and etching process tools, which are used by a broad range of specialty semiconductor customers, including manufacturers of microelectromechanical systems (“MEMS”), radio frequency (“RF”) communication chips, and power semiconductors for automotive and industrial applications. This reportable segment is comprised of one operating segment.
PCB, Display and Component Inspection
The PCB, Display and Component Inspection segment enables electronic device manufacturers to inspect, test and measure printed circuit boards (“PCBs”), flat panel displays (“FPDs”) and ICs to verify their quality, pattern the desired electronic circuitry on the relevant substrate and perform three-dimensional shaping of metalized circuits on multiple surfaces. This segment also engages in the development and marketing of character recognition solutions to banks, financial and other payment processing institutions and healthcare providers. This reportable segment is comprised of two operating segments, PCB and Display and Component Inspection.
Other
During the fourth quarter of fiscal 2020, we entered into an Asset Purchase Agreement to sell certain core assets of our non-strategic solar energy business, which was included in our Other reportable segment. This reportable segment remains comprised of one operating segment.
The CODM assesses the performance of each operating segment and allocates resources to those segments based on total revenues and segment gross margin and does not evaluate the segments using discrete asset information. Segment gross margin
excludes corporate allocations and effects of foreign exchange rates, amortization of intangible assets, amortization of inventory fair value adjustments, and transaction costs associated with our acquisitions related to costs of revenues.
The following is a summary of results for each of our four reportable segments for the indicated periods:
Three Months EndedSix Months Ended
 December 31,December 31,
(In thousands)2020201920202019
Semiconductor Process Control:
Revenues$1,380,184 $1,247,430 $2,648,138 $2,411,062 
Segment gross margin884,090 795,730 1,698,900 1,538,072 
Specialty Semiconductor Process:
Revenues90,587 75,106 179,540 144,245 
Segment gross margin51,171 41,333 101,099 79,497 
PCB, Display and Component Inspection:
Revenues179,267 186,279 360,444 364,831 
Segment gross margin84,584 82,538 174,753 158,606 
Other:
Revenues449 517 590 2,748 
Segment gross margin(121)117 (108)770 
Totals:
Revenues for reportable segments$1,650,487 $1,509,332 $3,188,712 $2,922,886 
Segment gross margin$1,019,724 $919,718 $1,974,644 $1,776,945 

The following table reconciles total reportable segment revenues to total revenues for the indicated periods:
Three Months EndedSix Months Ended
 December 31,December 31,
(In thousands)2020201920202019
Total revenues for reportable segments$1,650,487 $1,509,332 $3,188,712 $2,922,886 
Corporate allocations and effects of foreign exchange rates383 121 778 (19)
Total revenues$1,650,870 $1,509,453 $3,189,490 $2,922,867 

The following table reconciles total segment gross margin to total income before income taxes for the indicated periods:
Three Months EndedSix Months Ended
 December 31,December 31,
(In thousands)2020201920202019
Total segment gross margin $1,019,724 $919,718 $1,974,644 $1,776,945 
Acquisition-related charges, corporate allocations, and effects of foreign exchange rates(1)
38,587 43,883 75,449 91,937 
Research and development229,064 220,751 448,102 431,331 
Selling, general and administrative181,909 192,253 354,540 380,598 
Interest expense38,880 40,472 78,266 80,822 
Other expense (income), net3,882 (2,568)7,079 (4,186)
Income before income taxes$527,402 $424,927 $1,011,208 $796,443 
__________________
(1)Acquisition-related charges primarily include amortization of intangible assets and amortization of inventory fair value adjustments presented as part of costs of revenues.
Our significant operations outside the United States include manufacturing facilities in China, Germany, Israel and Singapore and sales, marketing and service offices in Japan, the rest of the Asia Pacific region and Europe. For geographical revenue reporting, revenues are attributed to the geographic location in which the customer is located. Long-lived assets consist of land, property and equipment, net and are attributed to the geographic region in which they are located.
The following is a summary of revenues by geographic region, based on ship-to location, for the indicated periods:
(Dollar amounts in thousands)Three Months Ended December 31,Six Months Ended December 31,
2020201920202019
Revenues:
China$382,157 23 %$381,752 25 %$868,246 27 %$727,608 25 %
Taiwan380,785 23 %447,083 30 %749,886 24 %833,812 28 %
Korea347,947 21 %181,948 12 %537,465 17 %379,398 13 %
North America214,808 13 %158,517 11 %384,984 12 %340,500 12 %
Japan156,721 10 %194,804 13 %321,140 10 %401,015 14 %
Europe and Israel100,201 6 %97,466 6 %183,318 6 %156,849 5 %
Rest of Asia68,251 4 %47,883 3 %144,451 4 %83,685 3 %
Total$1,650,870 100 %$1,509,453 100 %$3,189,490 100 %$2,922,867 100 %
The following is a summary of revenues by major products for the indicated periods:
(Dollar amounts in thousands)Three Months Ended December 31,Six Months Ended December 31,
2020201920202019
Revenues:
Wafer Inspection$687,030 42 %$606,131 40 %$1,206,581 38 %$1,054,405 36 %
Patterning307,512 19 %289,078 19 %678,444 21 %671,736 23 %
Specialty Semiconductor Process71,978 4 %60,941 4 %146,005 5 %117,811 4 %
PCB, Display and Component Inspection115,825 7 %129,235 9 %236,451 7 %249,595 9 %
Services412,847 25 %364,903 24 %805,972 25 %720,342 24 %
Other55,678 3 %59,165 4 %116,037 4 %108,978 4 %
Total$1,650,870 100 %$1,509,453 100 %$3,189,490 100 %$2,922,867 100 %

Wafer Inspection, and Patterning products are offered in Semiconductor Process Control segment. Services are offered in multiple segments. Other includes primarily refurbished systems, remanufactured legacy systems, and enhancements and upgrades for previous-generation products which are part of Semiconductor Process Control segment.

In the three months ended December 31, 2020, two customers each accounted for approximately 14% of total revenues. In the three months ended December 31, 2019, two customers accounted for approximately 24% and 10% of total revenues. In the six months ended December 31, 2020, two customers accounted for approximately 14% and 13% of total revenues. In the six months ended December 31, 2019, two customers accounted for approximately 21% and 11% of total revenues. Two customers on an individual basis accounted for greater than 10% of net accounts receivable at December 31, 2020 and one customer on an individual basis accounted for greater than 10% of net accounts receivable at June 30, 2020.
Land, property and equipment, net by geographic region as of the dates indicated below were as follows: 
As ofAs of
(In thousands)December 31, 2020June 30, 2020
Land, property and equipment, net:
United States$391,080 $329,558 
Israel57,562 59,162 
Singapore68,027 54,946 
Europe55,979 58,065 
Rest of Asia21,537 18,093 
Total$594,185 $519,824