COHERENT CORP
For the period ended Dec 31, 2023. Filed Feb 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 6, 2024
COHR$225.19+16.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets –
Condensed Consolidated Balance Sheets (Unaudited)
| ($000) | December 31,2023 | June 30,2023 |
|---|---|---|
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $856,255 | $821,310 |
| Restricted cash, current | 177,077 | 12,023 |
| Accounts receivable - less allowance for doubtful accounts of $11,039 at December 31, 2023 and $8,005 at June 30, 2023 | 856,098 | 901,531 |
| Inventories | 1,291,634 | 1,272,333 |
| Prepaid and refundable income taxes | 23,578 | 28,271 |
| Prepaid and other current assets | 216,961 | 216,530 |
| Total Current Assets | 3,421,603 | 3,251,998 |
| Property, plant & equipment, net | 1,849,119 | 1,782,035 |
| Goodwill | 4,566,010 | 4,512,700 |
| Other intangible assets, net | 3,704,692 | 3,814,684 |
| Deferred income taxes | 47,787 | 37,748 |
| Restricted cash, non-current | 787,358 | 4,233 |
| Other assets | 286,311 | 307,735 |
| Total Assets | $14,662,880 | $13,711,133 |
| Liabilities, Mezzanine Equity and Equity | ||
| Current Liabilities | ||
| Current portion of long-term debt | $74,569 | $74,836 |
| Accounts payable | 504,052 | 405,308 |
| Accrued compensation and benefits | 186,739 | 175,564 |
| Operating lease current liabilities | 37,788 | 38,271 |
| Accrued income taxes payable | 112,357 | 74,488 |
| Other accrued liabilities | 272,268 | 310,281 |
| Total Current Liabilities | 1,187,773 | 1,078,748 |
| Long-term debt | 4,137,009 | 4,234,962 |
| Deferred income taxes | 813,970 | 780,307 |
| Operating lease liabilities | 143,123 | 140,748 |
| Other liabilities | 234,781 | 247,402 |
| Total Liabilities | 6,516,656 | 6,482,167 |
| Mezzanine Equity | ||
| Series B redeemable convertible preferred stock, no par value, 5% cumulative; issued - 215,000 shares at December 31, 2023 and June 30, 2023; redemption value - $2,368,075 and $2,309,966, respectively | 2,302,168 | 2,241,415 |
| Shareholders' Equity | ||
| Series A preferred stock, no par value, 6% cumulative; issued - 0 and 2,300,000 shares at December 31, 2023 and June 30, 2023, respectively | — | 445,319 |
| Common stock, no par value; authorized - 300,000,000 shares; issued - 167,307,654 shares at December 31, 2023; 154,719,413 shares at June 30, 2023 | 4,786,076 | 3,781,211 |
| Accumulated other comprehensive income | 206,374 | 109,726 |
| Retained earnings | 789,138 | 944,416 |
| 5,781,588 | 5,280,672 | |
| Treasury stock, at cost; 15,548,608 shares at December 31, 2023 and 15,135,711 shares at June 30, 2023 | (310,686) | (293,121) |
| Total Coherent Corp. Shareholders’ Equity | 5,470,902 | 4,987,551 |
| Noncontrolling interests (NCI) | 373,154 | — |
| Total Equity | 5,844,056 | 4,987,551 |
| Total Liabilities, Mezzanine Equity and Equity | $14,662,880 | $13,711,133 |
Condensed Consolidated Statements of Earnings (Loss) (Unaudited)
($000, except per share data)
| Three Months EndedDecember 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Revenues | $1,131,434 | $1,370,285 |
| Costs, Expenses, and Other Expense (Income) | ||
| Cost of goods sold | 780,793 | 959,097 |
| Internal research and development | 111,163 | 128,791 |
| Selling, general and administrative | 209,163 | 274,151 |
| Restructuring charges (recoveries) | (1,570) | — |
| Interest expense | 74,678 | 70,904 |
| Other (income) expense, net | (5,386) | 3,696 |
| Total Costs, Expenses, & Other Expense | 1,168,841 | 1,436,639 |
| Loss Before Income Taxes | (37,407) | (66,354) |
| Income Tax Benefit | (8,932) | (21,282) |
| Net Loss | (28,475) | (45,072) |
| Net Loss Attributable to Noncontrolling Interests | (1,484) | — |
| Net Loss Attributable to Coherent Corp. | (26,991) | (45,072) |
| Less: Dividends on Preferred Stock | 30,580 | 35,889 |
| Net Loss Available to the Common Shareholders | $(57,571) | $(80,961) |
| Basic Loss Per Share | $(0.38) | $(0.58) |
| Diluted Loss Per Share | $(0.38) | $(0.58) |
Condensed Consolidated Statements of Earnings (Loss) (Unaudited)
($000, except per share data)
| Six Months EndedDecember 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Revenues | $2,184,517 | $2,714,855 |
| Costs, Expenses, and Other Expense (Income) | ||
| Cost of goods sold | 1,526,981 | 1,860,093 |
| Internal research and development | 224,651 | 249,875 |
| Selling, general and administrative | 420,860 | 554,165 |
| Restructuring charges | 1,448 | — |
| Interest expense | 147,936 | 132,793 |
| Other (income) expense, net | (11,655) | 35,301 |
| Total Costs, Expenses, & Other Expense | 2,310,221 | 2,832,227 |
| Loss Before Income Taxes | (125,704) | (117,372) |
| Income Tax Benefit | (29,695) | (33,602) |
| Net Loss | (96,009) | (83,770) |
| Net Loss Attributable to Noncontrolling Interests | (1,484) | — |
| Net Loss Attributable to Coherent Corp. | (94,525) | (83,770) |
| Less: Dividends on Preferred Stock | 60,753 | 71,466 |
| Net Loss Available to the Common Shareholders | $(155,278) | $(155,236) |
| Basic Loss Per Share | $(1.03) | $(1.14) |
| Diluted Loss Per Share | $(1.03) | $(1.14) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.