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SEGMENT REPORTING AND GEOGRAPHIC INFORMATION
 3 Months Ended
Sep. 30, 2021
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; Printed Circuit Board (“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 ("IC") manufacturers achieve target yield throughout the entire semiconductor fabrication process – from research and development 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, radio frequency 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 PCBs, flat panel displays 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
The Other segment is comprised of one operating segment. 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 accounted for the majority of our Other reportable segment. The sale was completed in the first quarter of fiscal 2021.
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 currency 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 Ended September 30,
(In thousands)20212020
SPC:
Revenues$1,779,083 $1,267,954 
Segment gross margin1,161,929 814,810 
Specialty Semiconductor Process:
Revenues102,029 88,954 
Segment gross margin54,721 49,928 
PCB, Display and Component Inspection:
Revenues202,808 181,177 
Segment gross margin94,476 90,169 
Other:
Revenues— 140 
Segment gross margin— 13 
Totals:
Revenues for reportable segments$2,083,920 $1,538,225 
Segment gross margin$1,311,126 $954,920 

The following table reconciles total revenues for reportable segments to total revenues for the indicated periods:
 Three Months Ended September 30,
(In thousands)20212020
Total revenues for reportable segments$2,083,920 $1,538,225 
Corporate allocations and effects of foreign exchange rates(82)395 
Total revenues$2,083,838 $1,538,620 

The following table reconciles total segment gross margin to total income before income taxes for the indicated periods:
 Three Months Ended September 30,
(In thousands)20212020
Total segment gross margin $1,311,126 $954,920 
Acquisition-related charges, corporate allocations, and effects of foreign exchange rates(1)
40,912 36,862 
Research and development258,153 219,038 
Selling, general and administrative193,261 172,631 
Interest expense38,312 39,386 
Other expense (income), net14,140 3,197 
Income before income taxes$766,348 $483,806 
__________________
(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 September 30,
20212020
Revenues:
China$685,156 33 %$486,089 32 %
Taiwan627,084 30 %369,100 24 %
Korea239,183 12 %189,518 12 %
North America177,740 9 %170,176 11 %
Japan175,167 8 %164,419 11 %
Rest of Asia92,068 4 %76,201 5 %
Europe and Israel87,440 4 %83,117 5 %
Total$2,083,838 100 %$1,538,620 100 %
The following is a summary of revenues by major product categories for the indicated periods:
(Dollar amounts in thousands)Three Months Ended September 30,
20212020
Revenues:
Wafer Inspection$887,512 43 %$519,551 34 %
Patterning439,591 21 %370,932 24 %
Specialty Semiconductor Process93,120 4 %74,027 5 %
PCB, Display and Component Inspection137,887 7 %120,626 8 %
Services453,950 22 %393,125 26 %
Other71,778 3 %60,359 3 %
Total$2,083,838 100 %$1,538,620 100 %
Wafer Inspection and Patterning products are offered in the SPC 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 the SPC segment.
In the three months ended September 30, 2021, one customer accounted for approximately 24% of total revenues. In the three months ended September 30, 2020, two customers accounted for approximately 14% and 12% of total revenues. One customer on an individual basis accounted for greater than 10% of net accounts receivable at September 30, 2021 and at June 30, 2021, respectively.
Land, property and equipment, net by geographic region as of the dates indicated below were as follows: 
As ofAs of
(In thousands)September 30, 2021June 30, 2021
Land, property and equipment, net:
United States$476,809 $447,359 
Singapore81,160 76,882 
Israel60,064 57,403 
Europe56,153 56,895 
Rest of Asia24,361 24,488 
Total$698,547 $663,027