Segment Information (Tables)

12 Months Ended

Jun. 30, 2022

The following table includes Segment EBITDA for each of the Company's current reporting segments during the fiscal years ended June 30, 2022, 2021, and 2020:


(Dollars in millions)	Fiscal Year Ended June 30,
	2022		2021		2020
Segment EBITDA reconciled to net earnings:
Biologics	$	798	$	608	$	237
Softgel and Oral Technologies	292		237		257
Oral and Specialty Delivery	192		160		201
Clinical Supply Services	110		108		91
Subtotal	$	1,392	$	1,113	$	786
Reconciling items to net earnings
Unallocated costs (1)	(286)		1		(146)
Depreciation and amortization	(378)		(289)		(254)
Interest expense, net	(123)		(110)		(126)
Income tax expense	(86)		(130)		(39)

Net earnings	$	519	$	585	$	221

(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,
	2022		2021		2020
Impairment charges and gain/loss on sale of assets(a)	$	(31)	$	(9)	$	(5)
Stock-based compensation	(54)		(51)		(48)
Restructuring and other special items (b)	(55)		(31)		(42)
Gain (loss) on sale of subsidiary (c)	1		182		(1)



Other expense, net (e)	(28)		(3)		(8)
Non-allocated corporate costs, net	(119)		(87)		(42)
Total unallocated costs	$	(286)	$	1	$	(146)

(a) 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 respiratory and specialty platform and obsolete equipment in its Biologics platform.

(b) 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, Skeletal, Delphi, and Acorda transactions, in addition to restructuring costs associated with the closure of the Company's Clinical Supply Services facility in Bolton, U.K.

Restructuring and other special items during the fiscal year ended June 30, 2020 include transaction and integration costs associated with the Company’s cell and gene therapy acquisitions and the disposal of a facility in Australia.

(c) Gain on sale of subsidiary for the fiscal years ended June 30, 2022 and 2021 is affiliated with the sale of the Blow-Fill-Seal Business. Loss on sale of subsidiary for the fiscal year ended June 30, 2020 is affiliated with the disposal of a facility in Australia.

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

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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, 2022		June 30, 2021
Biologics	$	5,734	$	4,973
Softgel and Oral Technologies	2,685		1,604
Oral and Specialty Delivery	1,006		1,269
Clinical Supply Services	700		483
Corporate and eliminations	382		783
Total assets	$	10,507	$	9,112

Capital Expenditures by Segment

Capital Expenditures


	Fiscal Year Ended June 30,
(Dollars in millions)	2022		2021		2020
Biologics	$	453	$	516	$	330
Softgel and Oral Technologies	109		61		54
Oral and Specialty Delivery	57		64		55
Clinical Supply Services	17		26		10
Corporate	30		19		17
Total capital expenditures	$	666	$	686	$	466

Presentation of revenue and long-lived assets by geographic area

The following table presents long-lived assets(1) by geographic area:


	Long-Lived Assets (1)

(Dollars in millions)		June 30, 2022		June 30, 2021
United States		$	2,267	$	1,867
Europe		747		541
Other		113		116

Total		$	3,127	$	2,524

(1) Long-lived assets include property, plant, and equipment, net of accumulated depreciation.

[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, Skeletal, Delphi, and Acorda transactions, in addition to restructuring costs associated with the closure of the Company's Clinical Supply Services facility in Bolton, U.K. Restructuring and other special items during the fiscal year ended June 30, 2020 include transaction and integration costs associated with the Company’s cell and gene therapy acquisitions and the disposal of a facility in Australia.
[2]	Gain on sale of subsidiary for the fiscal years ended June 30, 2022 and 2021 is affiliated with the sale of the Blow-Fill-Seal Business. Loss on sale of subsidiary for the fiscal year ended June 30, 2020 is affiliated with the disposal of a facility in Australia.
[3]	Refer to Note 15, Other expense, net, for details of financing charges and foreign currency translation adjustments recorded within other expense, net.
[4]	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: