Inventories

12 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories

The components of inventories were as follows:

June 30,	2023		2022
($000)
Raw materials	$	462,436	$	318,758
Work in progress	549,992		408,405
Finished goods	259,905		175,396
Total Inventories	$	1,272,333	$	902,559

During the year ended June 30, 2023, as part of the Merger, a fair value inventory step-up in the amount of $158 million was recorded as part of the purchase price allocation. The inventory step-up has been amortized to cost of goods sold over the expected period during which the acquired inventory was sold. Refer to Note 3. Coherent Acquisition for further information.