Applied Industrial (AIT) 10-Q 4 Nov 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Sep. 30, 2014	Oct. 15, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'APPLIED INDUSTRIAL TECHNOLOGIES INC	'
Entity Central Index Key	'0000109563	'
Current Fiscal Year End Date	'--06-30	'
Entity Filer Category	'Large Accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	41,280,636

Condensed_Statements_of_Consol

Condensed Statements of Consolidated Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'
Net Sales	$702,325	$605,305
Cost of Sales	507,393	435,510
Gross Profit	194,932	169,795
Selling, Distribution and Administrative, including depreciation	148,767	130,256
Operating Income	46,165	39,539
Interest (Income) Expense, net	1,662	61
Other (Income) Expense, net	244	-1,091
Income Before Income Taxes	44,259	40,569
Income Tax Expense	15,137	13,725
Net Income	$29,122	$26,844
Net Income Per Share - Basic	$0.70	$0.64
Net Income Per Share - Diluted	$0.70	$0.63
Cash dividends per common share	$0.25	$0.23
Weighted average common shares outstanding for basic computation	41,467	42,157
Dilutive effect of potential common shares	362	480
Weighted average common shares outstanding for diluted computation	41,829	42,637

Condensed_Statements_of_Consol1

Condensed Statements of Consolidated Comprehensive Income (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Net income per the condensed statements of consolidated income	$29,122	$26,844
Other comprehensive income (loss), before tax:	'	'
Foreign currency translation adjustments	-19,105	550
Postemployment benefits:	'	'
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	72	95
Unrealized gain (loss) on investment securities available for sale	-41	34
Total of other comprehensive income (loss), before tax	-19,074	679
Income tax expense related to items of other comprehensive income	14	48
Other comprehensive income (loss), net of tax	-19,088	631
Comprehensive income, net of tax	$10,034	$27,475

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Current assets	'	'
Cash and cash equivalents	$52,033	$71,189
Accounts receivable, less allowances of $10,513 and $10,385	403,521	375,732
Inventories	367,291	335,747
Other current assets	51,915	53,480
Total current assets	874,760	836,148
Property, less accumulated depreciation of $160,063 and $156,872	106,683	103,596
Identifiable Intangibles, net	208,497	159,508
Goodwill	259,156	193,494
Deferred tax assets	260	21,166
Other assets	19,563	20,257
TOTAL ASSETS	1,468,919	1,334,169
Current liabilities	'	'
Accounts payable	145,614	172,401
Current portion of long term debt	2,842	2,720
Compensation and related benefits	47,687	55,760
Other current liabilities	75,839	60,074
Total current liabilities	271,982	290,955
Long-term debt	321,418	167,992
Postemployment benefits	19,073	23,611
Other liabilities	65,741	51,303
TOTAL LIABILITIES	678,214	533,861
Shareholders’ Equity	'	'
Preferred stock—no par value; 2,500 shares authorized; none issued or outstanding	0	0
Common stock—no par value; 80,000 shares authorized; 54,213 shares issued	10,000	10,000
Additional paid-in capital	158,001	156,999
Retained Earnings	915,482	896,776
Treasury shares—at cost (12,825 and 12,650 shares)	-272,075	-261,852
Accumulated other comprehensive income (loss)	-20,703	-1,615
TOTAL SHAREHOLDERS’ EQUITY	790,705	800,308
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$1,468,919	$1,334,169

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, except Share data, unless otherwise specified
Current Assets:	'	'
Accounts Receivable, less allowances	$10,513	$10,385
Noncurrent Assets:	'	'
Property, less accumulated depreciation	$160,063	$156,872
Shareholders’ Equity	'	'
Preferred stock, par value	$0	$0
Preferred stock, shares authorized	2,500,000	2,500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0	$0
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	54,213,000	54,213,000
Treasury shares	12,825,000	12,650,000

Condensed_Statements_of_Consol2

Condensed Statements of Consolidated Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash Flows from Operating Activities	'	'
Net income	$29,122	$26,844
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization of property	4,211	3,431
Amortization of intangibles	6,491	3,249
Unrealized foreign exchange transactions (gain) loss	-572	-291
Amortization of stock options and appreciation rights	577	636
(Gain) loss on sale of property	-5	35
Other share-based compensation expense	592	754
Changes in operating assets and liabilities, net of acquisitions	-58,891	-18,014
Other, net	374	312
Net Cash (used in) provided by Operating Activities	-18,101	16,956
Cash Flows from Investing Activities	'	'
Property purchases	-3,100	-1,571
Proceeds from property sales	3	183
Acquisition of businesses, net of cash acquired	-129,810	0
Net Cash used in Investing Activities	-132,907	-1,388
Cash Flows from Financing Activities	'	'
Borrowings under revolving credit facility	34,000	0
Long-term debt borrowings	120,238	0
Long-term debt repayments	-690	0
Purchases of treasury shares	-10,400	-3,001
Dividends paid	-10,402	-9,746
Excess tax benefits from share-based compensation	556	1,516
Acquisition holdback payments	0	-606
Net Cash provided by (used in) Financing Activities	133,302	-11,837
Effect of Exchange Rate Changes on Cash	-1,450	-18
(Decrease) Increase in Cash and Cash Equivalents	-19,156	3,713
Cash and Cash Equivalents at Beginning of Period	71,189	73,164
Cash and Cash Equivalents at End of Period	$52,033	$76,877

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF PRESENTATION	'
	BASIS OF PRESENTATION
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the financial position of Applied Industrial Technologies, Inc. (the “Company”, or “Applied”) as of September 30, 2014, and the results of its operations and its cash flows for the three month periods ended September 30, 2014 and 2013, have been included. The condensed consolidated balance sheet as of June 30, 2014 has been derived from the audited consolidated financial statements at that date. This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended June 30, 2014.
	Operating results for the three month period ended September 30, 2014 are not necessarily indicative of the results that may be expected for the remainder of the fiscal year ending June 30, 2015.
	Change in Accounting Principle - U.S. Inventory Costing Methodology
	Over the past eight quarters, the Company has been implementing SAP as its new Enterprise Resource Planning system (ERP) at its U.S. service centers. As implementation occurred at each service center, the method used to apply the link chain dollar value last-in first-out (LIFO) method of accounting changed for the inventories at that location. The new inventory costing methodology utilizes the weighted average cost method to determine the current year LIFO indices as well as any new LIFO layers established, whereas previously, current costs were used. Upon completion of the implementation, on July 1, 2014 the Company changed its accounting policy to the new method. Differences between amounts recognized in the financial statements during the implementation period and the previous accounting policy prior to July 1, 2014 were immaterial.
	The Company believes that this change in accounting principle is preferable under the circumstances because weighted average cost will provide a better reflection of actual transactions and inventory purchases resulting in improved matching of actual costs and current revenues, will result in greater consistency in inventory costing across the organization as certain other U.S. locations were previously using weighted average cost for similar LIFO calculations in their legacy inventory systems, and the new ERP system will make inventory costing a more efficient process within the U.S. ASC 250, Accounting Changes and Error Corrections, requires that unless it is impracticable to do so, the voluntary adoption of a new accounting principle should be done retrospectively to all prior periods. Before July 1, 2014, the Company’s former ERP system did not capture weighted average costs within the U.S. and the data needed to recalculate previous LIFO indices does not exist. Thus, the Company has concluded it is impracticable to recognize a cumulative effect or to retrospectively apply the effect of this change in accounting principle prior to July 1, 2014, but believes that those effects would be immaterial in all periods.
	Change in Accounting Principle - Alignment of Canadian Subsidiary Reporting
	Effective July 1, 2013, the Company aligned the consolidation of the Company’s Canadian subsidiary in the consolidated financial statements which previously included results on a one month reporting lag. The Company believes that this change in accounting principle is preferable as it provides contemporaneous reporting within our consolidated financial statements. In accordance with applicable accounting literature, the elimination of a one month reporting lag of a subsidiary is treated as a change in accounting principle and requires retrospective application. The Company has determined that the effect of this change is not material to the financial statements for all periods presented and therefore, the Company has not presented retrospective application of this change. The net impact of the lag elimination of $1,200 of income for the month of June 2013 has been included within “Other (Income) Expense, net” on the Statement of Consolidated Income for the first quarter of fiscal 2014. The three months ended September 30, 2013 reflect the same results, had the financial statements been retrospectively adjusted, with the exception of net income which would have decreased $1,200.
	Inventory
	The Company uses the last-in, first-out (LIFO) method of valuing U.S. inventories. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs and are subject to the final year-end LIFO inventory determination.
	New Accounting Pronouncements
	In May 2014, the FASB issued its final standard on the recognition of revenue from contracts with customers. The standard, issued as Accounting Standards Update (ASU) 2014-09, outlines a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry specific guidance. The core principle of this model is that "an entity recognizes revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services." The update is effective for financial statement periods beginning after December 15, 2016, with early adoption prohibited. The Company is currently determining the impact of this pronouncement on its financial statements and related disclosures.
	In June 2014, the FASB issued its final standard on accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The standard, issued as (ASU) 2014-12, clarifies that a performance target that affects vesting and that can be achieved after the requisite service period, should be treated as a performance condition. The update is effective for financial statement periods beginning after December 15, 2015, with early adoption permitted. The Company is currently determining the impact of this pronouncement on its financial statements and related disclosures.

Business_Combinations

Business Combinations	3 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	BUSINESS COMBINATIONS
	The operating results of all acquired entities are included within the consolidated operating results of the Company from the date of each respective acquisition.
	Fiscal 2015
	On July 1, 2014, the Company acquired 100% of the outstanding stock of Knox Oil Field Supply Inc. (“Knox”), headquartered in San Angelo, Texas, for total consideration of $132,000, including cash paid of $118,000 at closing. The primary reason for the acquisition of Knox is to complement and expand the Company’s capabilities to serve the upstream oil and gas industry in the United States. As a distributor of oilfield supplies and related services, this business will be included in the Service Center Based Distribution Segment. The Company funded the acquisition by drawing $120,000 from the previously uncommitted shelf facility with Prudential Investment Management at a fixed interest rate of 3.19% with an average seven year life. The remaining $14,000 purchase price will be paid as acquisition holdback payments on the first three anniversaries of the acquisition with interest at a fixed rate of 1.5%.
	The following table summarizes the consideration transferred, assets acquired, and liabilities assumed in connection with the acquisition of Knox based on their preliminary estimated fair values at the acquisition date, which are subject to adjustment:
		Knox Acquisition
	Accounts receivable	$	20,100
	Inventories	18,900
	Property	3,600
	Identifiable intangible assets	58,500
	Goodwill	70,500
	Total assets acquired	171,600
	Accounts payable and accrued liabilities	10,300
	Deferred income taxes	29,300
	Net assets acquired	$	132,000
	Purchase price	132,800
	Reconciliation of fair value transferred:
	Working Capital Adjustments	(800		)
	Total Consideration	$	132,000
	None of the goodwill acquired is expected to be deductible for income tax purposes. The goodwill recognized is attributable primarily to expected synergies and other benefits that the Company believes will result from the acquisition of Knox.
	Also on July 1, 2014, the Company acquired substantially all of the net assets of Rodamientos y Derivados del Norte S.A. de C.V., a Mexican distributor of bearings and power transmission products and related products, and Great Southern Bearings / Northam Bearings, a Western Australia distributor of bearings and power transmission products for combined consideration of approximately $12,600. Tangible assets acquired was $10,400 and intangibles including goodwill was $2,200, based upon preliminary estimated fair values at the acquisition date, which are subject to adjustment. The Company funded these acquisitions from borrowings under the revolving credit facility. Total acquisition holdback payments of $1,600 will be paid in equal increments on the following three anniversaries of the acquisition. The results of operations for the Mexican and Australian acquisitions are not material for any period presented.
	Fiscal 2014
	On May 1, 2014, the Company acquired 100% of the outstanding stock of Reliance Industrial Products (“Reliance”), headquartered in Nisku, Alberta, Canada, with operations in Western Canada and the Western United States, for total consideration in the amount of $179,800; tangible assets acquired was $27,500 and intangibles including goodwill was $152,300, based upon preliminary estimated fair values at the acquisition date, which are subject to adjustment. The primary reason for the acquisition is to provide the Company enhanced capabilities to serve the upstream oil and gas industry in the United States and Canada. A distributor of fluid conveyance and oilfield supplies, this business is included in the Service Center Based Distribution Segment. The Company funded the acquisition by using available cash in Canada in the amount of $31,900, existing revolving credit facilities of $36,600 and a new $100,000 five year term loan facility, with the remainder of $20,000 to be paid in equal amounts as acquisition holdback payments on the first two anniversaries of the acquisition, plus interest at 2% per annum.
	During December 2013, the Company acquired substantially all of the net assets of Texas Oilpatch Services Corporation (Tops), a Texas distributor of bearings, oil seals, power transmission products, and related replacement parts to the oilfield industry. The acquired business is included in the Service Center Based Distribution segment. The consideration paid for this acquisition was $17,000, tangible assets acquired was $3,900 and intangibles, including goodwill was $13,100. The purchase price includes $2,550 of acquisition holdback payments which have been paid into an escrow account controlled by a third party. The acquisition price and the results of operations of Tops are not material in relation to the Company’s consolidated financial statements.
	Pro Forma Financial Information
	The following unaudited pro forma consolidated results of operations have been prepared as if the Reliance and Knox acquisitions (including the related acquisition costs) had occurred at the beginning of the first quarter of fiscal 2014:
	Pro forma, three months ended September 30:	2013
	Sales	$	663,010
	Operating income	$	44,746
	Net income	$	29,089
	Diluted net income per share	$	0.68
	These pro forma amounts have been calculated after applying the Company’s accounting policies and adjusting the results to reflect additional depreciation and amortization assuming the fair value adjustments to property, plant, and equipment, and amortizable intangible assets had been applied as of July 1, 2013. In addition, pro forma adjustments have been made for the interest expense that would have been incurred as a result of the indebtedness used to finance the acquisitions. The pro forma net income amounts also incorporate an adjustment to the recorded income tax expense for the income tax effect of the pro forma adjustments described above. These pro forma results of operations do not include any anticipated synergies or other effects of the planned integrations; accordingly, such pro forma adjustments do not purport to be indicative of the results of operations that actually would have resulted had the acquisition occurred as the date indicated or that may result in the future.

Goodwill_and_Intangibles

Goodwill and Intangibles	3 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
GOODWILL AND INTANGIBLES	'
	GOODWILL AND INTANGIBLES
	The changes in the carrying amount of goodwill for both the Service Center Based Distribution segment and the Fluid Power Businesses segment for the three month period ended September 30, 2014 are as follows:
		Service Centers			Fluid Power			Total
	Balance at July 1, 2014	$	192,565		$	929		$	193,494
	Goodwill acquired during the period	71,361			—			71,361
	Other, primarily currency translation	(5,699		)	—			(5,699		)
	Balance at September 30, 2014	$	258,227		$	929		$	259,156
	At September 30, 2014, accumulated goodwill impairment losses, subsequent to fiscal year 2002, totaled $36,605 and related to the Fluid Power Businesses segment.
	The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following:
	September 30, 2014		Amount			Accumulated			Net Book
						Amortization			Value
	Finite-Lived Identifiable Intangibles:
	Customer relationships		$	217,668		$	52,751		$	164,917
	Trade names		43,316			11,153			32,163
	Vendor relationships		15,144			6,793			8,351
	Non-competition agreements		4,528			1,462			3,066
	Total Identifiable Intangibles		$	280,656		$	72,159		$	208,497
	June 30, 2014		Amount			Accumulated			Net Book
						Amortization			Value
	Finite-Lived Identifiable Intangibles:
	Customer relationships		$	170,395		$	48,285		$	122,110
	Trade names		36,912			10,394			26,518
	Vendor relationships		15,446			6,628			8,818
	Non-competition agreements		3,322			1,260			2,062
	Total Identifiable Intangibles		$	226,075		$	66,567		$	159,508
	Amounts include the impact of foreign currency translation. Fully amortized amounts are written off.
	During the three month period ended September 30, 2014, the Company acquired identifiable intangible assets with a preliminary acquisition cost allocation and weighted-average life as follows:
			Acquisition Cost Allocation			Weighted-Average Life
	Customer relationships		$	51,494		20
	Trade names		6,928			5
	Vendor relationships		9			5
	Non-competition agreements		1,300			5
	Total Intangibles Acquired		$	59,731		18
	Estimated future amortization expense by fiscal year (based on the Company’s identifiable intangible assets as of September 30, 2014) for the next five years is as follows: $19,800 for the remainder of 2015, $24,500 for 2016, $23,100 for 2017, $21,000 for 2018, $19,200 for 2019 and $16,300 for 2020.

Debt_Notes

Debt (Notes)	3 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	DEBT
	Revolving Credit Facility
	The Company has a revolving credit facility with a group of banks expiring in May 2017. This agreement provides for unsecured borrowings of up to $150,000. Fees on this facility range from 0.09% to 0.175% per year based upon the Company's leverage ratio at each quarter end. Borrowings under this agreement carry variable interest rates tied to either LIBOR, prime, or the bank’s cost of funds at the Company’s discretion. This agreement also enables the Company to refinance this debt on a long-term basis. At September 30, 2014 and June 30, 2014, the Company had $103,000 and $69,000 outstanding under this credit facility, respectively. Unused lines under this facility, net of outstanding letters of credit of $8,900 and $8,700 to secure certain insurance obligations, totaled $38,100 and $72,300 at September 30, 2014 and June 30, 2014, respectively and are available to fund future acquisitions or other capital and operating requirements. The weighted average interest rate on the revolving credit facility outstanding as of September 30, 2014 and June 30, 2014 was 0.85%.
	Long-Term Borrowings
	The Company entered into a $100,000 unsecured five-year term loan with a group of banks in April 2014, with a final maturity date in April 2019. Borrowings under this agreement carry a variable interest rate tied to LIBOR, which at September 30, 2014 and June 30, 2014 was a rate of 1.06%. The term loan had $98,800 and $99,400 outstanding at September 30, 2014 and June 30, 2014, respectively.
	In April 2014 the Company assumed $2,400 of debt as a part of the headquarters facility acquisition. The 1.5% fixed interest rate note is held by the State of Ohio Development Services Agency, maturing in May 2024. At September 30, 2014 and June 30, 2014, $2,300 was outstanding.
	At September 30, 2014, the Company had borrowings outstanding under its uncommitted unsecured shelf facility agreement with Prudential Investment Management of $120,000. These "Series C" borrowings carry a fixed interest rate of 3.19%, which is due in equal principal payments in July of 2020, 2021 and 2022. As of September 30, 2014, $5,000 in additional financing was available under this facility.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE MEASUREMENTS	'
	FAIR VALUE MEASUREMENTS
	Marketable securities measured at fair value at September 30, 2014 and June 30, 2014 totaled $10,957 and $11,011, respectively. These marketable securities are held in a rabbi trust for a non-qualified deferred compensation plan. The marketable securities are included in Other Assets on the accompanying condensed consolidated balance sheets and their fair values are based upon quoted market prices in an active market (Level 1 in the fair value hierarchy).
	The fair value of the uncommitted shelf facility agreement with Prudential Investment Management is $120,000 at September 30, 2014. (Level 2 in the fair value hierarchy)
	The revolving credit facility and the term loan contain variable interest rates and their carrying values approximate fair value (Level 2 in the fair value hierarchy).

Shareholders_Equity

Shareholders' Equity	3 Months Ended
	Sep. 30, 2014
Stockholders' Equity Note [Abstract]	'
SHAREHOLDERS' EQUITY	'
	SHAREHOLDERS' EQUITY
	Accumulated Other Comprehensive Income (Loss)
	Changes in the accumulated other comprehensive income (loss), are comprised of the following:
		Three Months Ended September 30, 2014
		Foreign currency translation adjustment			Unrealized gain (loss) on securities available for sale			Postemployment benefits			Total Accumulated other comprehensive income (loss)
	Balance at July 1, 2014	$	989		$	21		$	(2,625	)	$	(1,615	)
	Other comprehensive income (loss)	(19,105		)	(27		)				(19,132		)
	Amounts reclassified from accumulated other comprehensive income (loss)	—			—			44			44
	Net current-period other comprehensive income (loss), net of taxes	(19,105		)	(27		)	44			(19,088		)
	Balance at September 30, 2014	$	(18,116	)	$	(6	)	$	(2,581	)	$	(20,703	)
	Other Comprehensive Income (Loss)
	Details of other comprehensive income (loss) are as follows:
		Three Months Ended September 30,
		2014									2013
		Pre-Tax Amount			Tax Expense (Benefit)			Net Amount			Pre-Tax Amount			Tax Expense (Benefit)		Net Amount
	Foreign currency translation adjustments	$	(19,105	)				$	(19,105	)	$	550		$	—	$	550
	Postemployment benefits:
	Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	72			28			44			95			37		58
	Unrealized gain (loss) on investment securities available for sale	(41		)	(14		)	(27		)	34			11		23
	Other comprehensive income (loss)	$	(19,074	)	$	14		$	(19,088	)	$	679		$	48	$	631
	Antidilutive Common Stock Equivalents
	In the three month periods ended September 30, 2014 and 2013, respectively, stock options and stock appreciation rights related to 239 and 272 shares of common stock, were not included in the computation of diluted earnings per share for the periods then ended as they were anti-dilutive.

Benefit_Plans

Benefit Plans	3 Months Ended
	Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
BENEFIT PLANS	'
	BENEFIT PLANS
	The following table provides summary disclosures of the net periodic postemployment costs recognized for the Company’s postemployment benefit plans:
		Pension Benefits						Retiree Health Care
								Benefits
	Three Months Ended September 30,	2014			2013			2014			2013
	Components of net periodic cost:
	Service cost	$	24		$	19		$	13		$	12
	Interest cost	224			295			24			35
	Expected return on plan assets	(124		)	(104		)	—			—
	Recognized net actuarial (gain) loss	140			153			(22		)	(9		)
	Amortization of prior service cost	22			20			(68		)	(68		)
	Net periodic cost	$	286		$	383		$	(53	)	$	(30	)
	The Company contributed $5,832 to its pension benefit plans and $40 to its retiree health care plans in the three months ended September 30, 2014. Expected contributions for the remainder of fiscal 2015 are $570 for the pension benefit plans to fund scheduled retirement payments and $120 for retiree health care plans.

Segment_and_Geographic_Informa

Segment and Geographic Information	3 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
SEGMENT AND GEOGRAPHIC INFORMATION	'
	SEGMENT AND GEOGRAPHIC INFORMATION
	The accounting policies of the Company’s reportable segments are generally the same as those used to prepare the condensed consolidated financial statements. Intercompany sales primarily from the Fluid Power Businesses segment to the Service Center Based Distribution segment of $5,573 and $5,533, in the three months ended September 30, 2014 and 2013, respectively, have been eliminated in the Segment Financial Information tables below.
	Three Months Ended	Service Center Based Distribution			Fluid Power Businesses			Total
	September 30, 2014
	Net sales	$	575,097		$	127,228		$	702,325
	Operating income for reportable segments	37,535			12,933			50,468
	Assets used in business	1,251,565			217,354			1,468,919
	Depreciation and amortization of property	3,843			368			4,211
	Capital expenditures	2,738			362			3,100
	September 30, 2013
	Net sales	$	492,072		$	113,233		$	605,305
	Operating income for reportable segments	28,372			9,457			37,829
	Assets used in business	841,770			208,319			1,050,089
	Depreciation and amortization of property	2,999			432			3,431
	Capital expenditures	1,394			177			1,571
	Enterprise Resource Planning system (ERP) related assets are included in assets used in business and capital expenditures within the Service Center Based Distribution segment.
	A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows:
		Three Months Ended
		September 30,
		2014			2013
	Operating income for reportable segments	$	50,468		$	37,829
	Adjustment for:
	Intangible amortization—Service Center Based Distribution	4,867			1,495
	Intangible amortization—Fluid Power Businesses	1,624			1,754
	Corporate and other (income) expense, net	(2,188		)	(4,959		)
	Total operating income	46,165			39,539
	Interest expense, net	1,662			61
	Other (income) expense, net	244			(1,091		)
	Income before income taxes	$	44,259		$	40,569
	The change in corporate and other (income) expense, net is due to changes in the amounts and levels of expenses being allocated to the segments. The expenses being allocated include corporate charges for working capital, logistics support and other items.
	Net sales are presented in geographic areas based on the location of the facility shipping the product and are as follows:
		Three Months Ended
		September 30,
		2014			2013
	Geographic Areas:
	United States	$	561,559		$	501,051
	Canada	99,181			69,747
	Other countries	41,585			34,507
	Total	$	702,325		$	605,305
	Other countries consist of Mexico, Australia and New Zealand.

Other_Income_Expense_Net

Other (Income) Expense, Net	3 Months Ended
	Sep. 30, 2014
Other Income and Expenses [Abstract]	'
OTHER (INCOME) EXPENSE, NET	'
	OTHER (INCOME) EXPENSE , NET
	Other (income) expense, net consists of the following:
		Three Months Ended
		September 30,
		2014		2013
	Unrealized (gain) loss on assets held in rabbi trust for a nonqualified deferred compensation plan	$	91	$	(596	)
	Elimination of one-month Canadian reporting lag, effective July 1, 2013	—		(1,167		)
	Foreign currency transactions (gain) loss	54		605
	Other, net	99		67
	Total other (income) expense, net	$	244	$	(1,091	)

Subsequent_Events_Notes

Subsequent Events (Notes)	3 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	SUBSEQUENT EVENTS
	We have evaluated subsequent events and transactions subsequent to September 30, 2014, through the date the financial statements were issued.
	On November 3, 2014, the Company acquired substantially all of the net assets of Ira Pump and Supply Inc. (Ira Pump), headquartered in Ira, Texas. The acquisition of Ira Pump further expands the Company's capabilities to serve the upstream oil and gas industry in the United States. As a distributor of oilfield pumps and supplies, this business will be included in the Service Center Based Distribution Segment. The financial results of the operations acquired will be included in the Company's results of operations from November 3, 2014.
	On October 30, 2014, the Company amended and increased its unsecured shelf facility with Prudential Investment Management to provide an available borrowing capacity of $100,000. The Company borrowed $50,000 to fund the acquisition as well as working capital needs. These "Series D" borrowings carry a fixed interest rate of 3.21%, with equal principal payments due in October of 2019 and 2023, leaving a remaining borrowing capacity on the unsecured shelf facility of $50,000.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	'	'
	Change in Accounting Principle - U.S. Inventory Costing Methodology	Change in Accounting Principle - Alignment of Canadian Subsidiary Reporting
	Over the past eight quarters, the Company has been implementing SAP as its new Enterprise Resource Planning system (ERP) at its U.S. service centers. As implementation occurred at each service center, the method used to apply the link chain dollar value last-in first-out (LIFO) method of accounting changed for the inventories at that location. The new inventory costing methodology utilizes the weighted average cost method to determine the current year LIFO indices as well as any new LIFO layers established, whereas previously, current costs were used. Upon completion of the implementation, on July 1, 2014 the Company changed its accounting policy to the new method. Differences between amounts recognized in the financial statements during the implementation period and the previous accounting policy prior to July 1, 2014 were immaterial.	Effective July 1, 2013, the Company aligned the consolidation of the Company’s Canadian subsidiary in the consolidated financial statements which previously included results on a one month reporting lag. The Company believes that this change in accounting principle is preferable as it provides contemporaneous reporting within our consolidated financial statements. In accordance with applicable accounting literature, the elimination of a one month reporting lag of a subsidiary is treated as a change in accounting principle and requires retrospective application. The Company has determined that the effect of this change is not material to the financial statements for all periods presented and therefore, the Company has not presented retrospective application of this change. The net impact of the lag elimination of $1,200 of income for the month of June 2013 has been included within “Other (Income) Expense, net” on the Statement of Consolidated Income for the first quarter of fiscal 2014. The three months ended September 30, 2013 reflect the same results, had the financial statements been retrospectively adjusted, with the exception of net income which would have decreased $1,200.
	The Company believes that this change in accounting principle is preferable under the circumstances because weighted average cost will provide a better reflection of actual transactions and inventory purchases resulting in improved matching of actual costs and current revenues, will result in greater consistency in inventory costing across the organization as certain other U.S. locations were previously using weighted average cost for similar LIFO calculations in their legacy inventory systems, and the new ERP system will make inventory costing a more efficient process within the U.S. ASC 250, Accounting Changes and Error Corrections, requires that unless it is impracticable to do so, the voluntary adoption of a new accounting principle should be done retrospectively to all prior periods. Before July 1, 2014, the Company’s former ERP system did not capture weighted average costs within the U.S. and the data needed to recalculate previous LIFO indices does not exist. Thus, the Company has concluded it is impracticable to recognize a cumulative effect or to retrospectively apply the effect of this change in accounting principle prior to July 1, 2014, but believes that those effects would be immaterial in all periods.
Inventory, Policy [Policy Text Block]	'	'
	Inventory
	The Company uses the last-in, first-out (LIFO) method of valuing U.S. inventories. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs and are subject to the final year-end LIFO inventory determination.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	'	'
	New Accounting Pronouncements
	In May 2014, the FASB issued its final standard on the recognition of revenue from contracts with customers. The standard, issued as Accounting Standards Update (ASU) 2014-09, outlines a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry specific guidance. The core principle of this model is that "an entity recognizes revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services." The update is effective for financial statement periods beginning after December 15, 2016, with early adoption prohibited. The Company is currently determining the impact of this pronouncement on its financial statements and related disclosures.
	In June 2014, the FASB issued its final standard on accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The standard, issued as (ASU) 2014-12, clarifies that a performance target that affects vesting and that can be achieved after the requisite service period, should be treated as a performance condition. The update is effective for financial statement periods beginning after December 15, 2015, with early adoption permitted. The Company is currently determining the impact of this pronouncement on its financial statements and related disclosures.

Business_Combinations_Business

Business Combinations Business Combinations Assets Acquired Table (Tables)	3 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]	'
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	'
	The following table summarizes the consideration transferred, assets acquired, and liabilities assumed in connection with the acquisition of Knox based on their preliminary estimated fair values at the acquisition date, which are subject to adjustment:
		Knox Acquisition
	Accounts receivable	$	20,100
	Inventories	18,900
	Property	3,600
	Identifiable intangible assets	58,500
	Goodwill	70,500
	Total assets acquired	171,600
	Accounts payable and accrued liabilities	10,300
	Deferred income taxes	29,300
	Net assets acquired	$	132,000
	Purchase price	132,800
	Reconciliation of fair value transferred:
	Working Capital Adjustments	(800		)
	Total Consideration	$	132,000
	None of the goodwill acquired is expected to be deductible for income tax purposes. The goodwill recognized is attributable primarily to expected synergies and other benefits that the Company believes will result from the acquisition of Knox.
	The following table summarizes the consideration transferred, assets acquired, and liabilities assumed in connection with the acquisition of Knox based on their preliminary estimated fair values at the acquisition date, which are subject to adjustment:
		Knox Acquisition
	Accounts receivable	$	20,100
	Inventories	18,900
	Property	3,600
	Identifiable intangible assets	58,500
	Goodwill	70,500
	Total assets acquired	171,600
	Accounts payable and accrued liabilities	10,300
	Deferred income taxes	29,300
	Net assets acquired	$	132,000
	Purchase price	132,800
	Reconciliation of fair value transferred:
	Working Capital Adjustments	(800		)
	Total Consideration	$	132,000

Business_Combinations_Business1

Business Combinations Business Combination, Pro Forma Financial Information Table (Tables)	3 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]	'
Business Acquisition, Pro Forma Information [Table Text Block]	'
	The following unaudited pro forma consolidated results of operations have been prepared as if the Reliance and Knox acquisitions (including the related acquisition costs) had occurred at the beginning of the first quarter of fiscal 2014:
	Pro forma, three months ended September 30:	2013
	Sales	$	663,010
	Operating income	$	44,746
	Net income	$	29,089
	Diluted net income per share	$	0.68

Goodwill_and_Intangibles_Table

Goodwill and Intangibles (Tables)	3 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Changes in the carrying amount of goodwill by reportable segment	'
	The changes in the carrying amount of goodwill for both the Service Center Based Distribution segment and the Fluid Power Businesses segment for the three month period ended September 30, 2014 are as follows:
		Service Centers			Fluid Power			Total
	Balance at July 1, 2014	$	192,565		$	929		$	193,494
	Goodwill acquired during the period	71,361			—			71,361
	Other, primarily currency translation	(5,699		)	—			(5,699		)
	Balance at September 30, 2014	$	258,227		$	929		$	259,156
	At September 30, 2014, accumulated goodwill impairment losses, subsequent to fiscal year 2002, totaled $36,605 and related to the Fluid Power Businesses segment.
Schedule of Intangible Assets	'
	The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following:
	September 30, 2014		Amount			Accumulated			Net Book
						Amortization			Value
	Finite-Lived Identifiable Intangibles:
	Customer relationships		$	217,668		$	52,751		$	164,917
	Trade names		43,316			11,153			32,163
	Vendor relationships		15,144			6,793			8,351
	Non-competition agreements		4,528			1,462			3,066
	Total Identifiable Intangibles		$	280,656		$	72,159		$	208,497
	June 30, 2014		Amount			Accumulated			Net Book
						Amortization			Value
	Finite-Lived Identifiable Intangibles:
	Customer relationships		$	170,395		$	48,285		$	122,110
	Trade names		36,912			10,394			26,518
	Vendor relationships		15,446			6,628			8,818
	Non-competition agreements		3,322			1,260			2,062
	Total Identifiable Intangibles		$	226,075		$	66,567		$	159,508
	Amounts include the impact of foreign currency translation. Fully amortized amounts are written off.
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	'
	During the three month period ended September 30, 2014, the Company acquired identifiable intangible assets with a preliminary acquisition cost allocation and weighted-average life as follows:
			Acquisition Cost Allocation			Weighted-Average Life
	Customer relationships		$	51,494		20
	Trade names		6,928			5
	Vendor relationships		9			5
	Non-competition agreements		1,300			5
	Total Intangibles Acquired		$	59,731		18

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2014
Stockholders' Equity Note [Abstract]	'
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	'
	Accumulated Other Comprehensive Income (Loss)
	Changes in the accumulated other comprehensive income (loss), are comprised of the following:
		Three Months Ended September 30, 2014
		Foreign currency translation adjustment			Unrealized gain (loss) on securities available for sale			Postemployment benefits			Total Accumulated other comprehensive income (loss)
	Balance at July 1, 2014	$	989		$	21		$	(2,625	)	$	(1,615	)
	Other comprehensive income (loss)	(19,105		)	(27		)				(19,132		)
	Amounts reclassified from accumulated other comprehensive income (loss)	—			—			44			44
	Net current-period other comprehensive income (loss), net of taxes	(19,105		)	(27		)	44			(19,088		)
	Balance at September 30, 2014	$	(18,116	)	$	(6	)	$	(2,581	)	$	(20,703	)
Schedule of Comprehensive Income (Loss) [Table Text Block]	'
	Details of other comprehensive income (loss) are as follows:
		Three Months Ended September 30,
		2014									2013
		Pre-Tax Amount			Tax Expense (Benefit)			Net Amount			Pre-Tax Amount			Tax Expense (Benefit)		Net Amount
	Foreign currency translation adjustments	$	(19,105	)				$	(19,105	)	$	550		$	—	$	550
	Postemployment benefits:
	Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	72			28			44			95			37		58
	Unrealized gain (loss) on investment securities available for sale	(41		)	(14		)	(27		)	34			11		23
	Other comprehensive income (loss)	$	(19,074	)	$	14		$	(19,088	)	$	679		$	48	$	631

Benefit_Plans_Tables

Benefit Plans (Tables)	3 Months Ended
	Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
Net periodic costs	'
	The following table provides summary disclosures of the net periodic postemployment costs recognized for the Company’s postemployment benefit plans:
		Pension Benefits						Retiree Health Care
								Benefits
	Three Months Ended September 30,	2014			2013			2014			2013
	Components of net periodic cost:
	Service cost	$	24		$	19		$	13		$	12
	Interest cost	224			295			24			35
	Expected return on plan assets	(124		)	(104		)	—			—
	Recognized net actuarial (gain) loss	140			153			(22		)	(9		)
	Amortization of prior service cost	22			20			(68		)	(68		)
	Net periodic cost	$	286		$	383		$	(53	)	$	(30	)

Segment_and_Geographic_Informa1

Segment and Geographic Information (Tables)	3 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segment financial information	'
	Three Months Ended	Service Center Based Distribution			Fluid Power Businesses			Total
	September 30, 2014
	Net sales	$	575,097		$	127,228		$	702,325
	Operating income for reportable segments	37,535			12,933			50,468
	Assets used in business	1,251,565			217,354			1,468,919
	Depreciation and amortization of property	3,843			368			4,211
	Capital expenditures	2,738			362			3,100
	September 30, 2013
	Net sales	$	492,072		$	113,233		$	605,305
	Operating income for reportable segments	28,372			9,457			37,829
	Assets used in business	841,770			208,319			1,050,089
	Depreciation and amortization of property	2,999			432			3,431
	Capital expenditures	1,394			177			1,571
	Enterprise Resource Planning system (ERP) related assets are included in assets used in business and capital expenditures within the Service Center Based Distribution segment.
Reconciliation of operating income for reportable segments to the consolidated income before income taxes	'
	A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows:
		Three Months Ended
		September 30,
		2014			2013
	Operating income for reportable segments	$	50,468		$	37,829
	Adjustment for:
	Intangible amortization—Service Center Based Distribution	4,867			1,495
	Intangible amortization—Fluid Power Businesses	1,624			1,754
	Corporate and other (income) expense, net	(2,188		)	(4,959		)
	Total operating income	46,165			39,539
	Interest expense, net	1,662			61
	Other (income) expense, net	244			(1,091		)
	Income before income taxes	$	44,259		$	40,569
	The change in corporate and other (income) expense, net is due to changes in the amounts and levels of expenses being allocated to the segments. The expenses being allocated include corporate charges for working capital, logistics support and other items.
Net sales are presented in geographic areas	'
	Net sales are presented in geographic areas based on the location of the facility shipping the product and are as follows:
		Three Months Ended
		September 30,
		2014			2013
	Geographic Areas:
	United States	$	561,559		$	501,051
	Canada	99,181			69,747
	Other countries	41,585			34,507
	Total	$	702,325		$	605,305
	Other countries consist of Mexico, Australia and New Zealand

Other_Income_Expense_Net_Table

Other (Income) Expense, Net (Tables)	3 Months Ended
	Sep. 30, 2014
Other Income and Expenses [Abstract]	'
Other expense (income), net	'
	Other (income) expense, net consists of the following:
		Three Months Ended
		September 30,
		2014		2013
	Unrealized (gain) loss on assets held in rabbi trust for a nonqualified deferred compensation plan	$	91	$	(596	)
	Elimination of one-month Canadian reporting lag, effective July 1, 2013	—		(1,167		)
	Foreign currency transactions (gain) loss	54		605
	Other, net	99		67
	Total other (income) expense, net	$	244	$	(1,091	)

Basis_of_Presentation_Change_i

Basis of Presentation Change in Accounting Principle (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income	$0	$1,167
Net Sales Impact [Member] [Member]	'	'
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income	$1,200	'

Business_Combinations_Business2

Business Combinations Business Combinations Textuals (Details) (USD $)	3 Months Ended		3 Months Ended		3 Months Ended		3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Jul. 01, 2014	Sep. 30, 2014	Jul. 01, 2014	Jun. 30, 2014	1-May-14	Dec. 31, 2013	Jul. 01, 2014	Sep. 30, 2014	Jul. 01, 2014
	Knox Acquisition [Member]	Knox Acquisition [Member]	Rodensa & GSB Acquisition [Member]	Rodensa & GSB Acquisition [Member]	Reliance Acquisition [Member]	Reliance Acquisition [Member]	Tops Acquisition [Member]	Tops Acquisition [Member]	Prudential Facility [Member]	Prudential Facility [Member]
Business Acquisition, Percentage of Voting Interests Acquired	'	100.00%	'	'	'	100.00%	'	'	'	'
Total Consideration	$132,000	'	$12,600	'	$179,800	'	$17,000	'	'	'
Cash Paid at Closing	'	118,000	'	'	'	'	'	'	'	'
Long-term Debt	'	'	'	'	'	'	'	'	120,000	120,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	'	'	'	'	'	'	'	'	'	3.19%
Funding from Holdback Payments	'	14,000	'	1,600	'	20,000	'	2,550	'	'
Debt Instrument, Interest Rate During Period	1.50%	'	'	'	2.00%	'	'	'	'	'
Total assets acquired	'	171,600	'	10,400	'	27,500	'	3,900	'	'
Goodwill plus Intangibles Acquired	'	'	'	2,200	'	152,300	'	13,100	'	'
Funding from Canadian Cash	'	'	'	'	'	31,900	'	'	'	'
Funding From Existing Credit Facility	'	'	'	'	'	36,600	'	'	'	'
Funding from New Credit Facility	'	'	'	'	'	$100,000	'	'	'	'

Business_Combinations_Knox_Fai

Business Combinations Knox - Fair Value of Assets Acquired (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014	Jul. 01, 2014
In Thousands, unless otherwise specified			Knox Acquisition [Member]	Knox Acquisition [Member]
Accounts receivable	'	'	'	$20,100
Inventories	'	'	'	18,900
Property	'	'	'	3,600
Identifiable intangible assets	'	'	'	58,500
Goodwill	259,156	193,494	'	70,500
Total assets acquired	'	'	'	171,600
Accounts payable and accrued liabilities	'	'	'	10,300
Deferred income taxes	'	'	'	29,300
Net assets acquired	'	'	'	132,000
Purchase price	'	'	132,800	'
Working Capital Adjustments	'	'	-800	'
Total Consideration	'	'	$132,000	'

Business_Combinations_Pro_Form

Business Combinations Pro - Forma Information (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013
Business Combinations [Abstract]	'
Sales	$663,010
Operating income	44,746
Net income	$29,089
Diluted net income per share	$0.68

Goodwill_and_Intangibles_Detai

Goodwill and Intangibles (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Changes in the carrying amount of goodwill by reportable segment	'
Balance at July 1, 2014	$193,494
Goodwill acquired during the period	71,361
Other, primarily currency translation	-5,699
Balance at September 30, 2014	259,156
Service Center Based Distribution Segment [Member]	'
Changes in the carrying amount of goodwill by reportable segment	'
Balance at July 1, 2014	192,565
Goodwill acquired during the period	71,361
Other, primarily currency translation	-5,699
Balance at September 30, 2014	258,227
Fluid Power Businesses Segment [Member]	'
Changes in the carrying amount of goodwill by reportable segment	'
Balance at July 1, 2014	929
Goodwill acquired during the period	0
Other, primarily currency translation	0
Balance at September 30, 2014	$929

Goodwill_and_Intangibles_Detai1

Goodwill and Intangibles (Details 1) (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Amortization details resulting from business combinations	'	'
Amount	$280,656	$226,075
Accumulated Amortization	72,159	66,567
Net Book Value	208,497	159,508
Total Identifiable Intangible	208,497	159,508
Customer relationships	'	'
Amortization details resulting from business combinations	'	'
Amount	217,668	170,395
Accumulated Amortization	52,751	48,285
Net Book Value	164,917	122,110
Trade names	'	'
Amortization details resulting from business combinations	'	'
Amount	43,316	36,912
Accumulated Amortization	11,153	10,394
Net Book Value	32,163	26,518
Vendor relationships	'	'
Amortization details resulting from business combinations	'	'
Amount	15,144	15,446
Accumulated Amortization	6,793	6,628
Net Book Value	8,351	8,818
Non-competition agreements	'	'
Amortization details resulting from business combinations	'	'
Amount	4,528	3,322
Accumulated Amortization	1,462	1,260
Net Book Value	$3,066	$2,062

Goodwill_and_Intangibles_Goodw

Goodwill and Intangibles Goodwill and Intangibles (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Acquired Finite-Lived Intangible Assets [Line Items]	'
Acquisition Cost Allocation	$59,731
Weighted-Average Life	'18 years
Customer Relationships [Member]	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Acquisition Cost Allocation	51,494
Weighted-Average Life	'20 years
Trade Names [Member]	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Acquisition Cost Allocation	6,928
Weighted-Average Life	'5 years
Vendor Relationships [Member]	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Acquisition Cost Allocation	9
Weighted-Average Life	'5 years
Noncompete Agreements [Member]	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Acquisition Cost Allocation	$1,300
Weighted-Average Life	'5 years

Goodwill_and_Intangibles_Detai2

Goodwill and Intangibles (Details Textuals) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Goodwill and Intangibles (Textuals) [Abstract]	'
Amortization expense for the remainder of 2015	$19,800
Amortization expense for 2016	24,500
Amortization expense for 2017	23,100
Amortization expense for 2018	21,000
Amortization expense for 2019	19,200
Amortization expense for 2020	16,300
Fluid Power Businesses [Member]	'
Goodwill [Line Items]	'
Accumulated goodwill impairment losses	$36,605

Debt_Details

Debt (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Jul. 01, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified	Revolving Credit Facility [Member]	Revolving Credit Facility [Member]	Minimum [Member]	Maximum [Member]	Prudential Facility [Domain]	Prudential Facility [Domain]	Prudential Facility - Series C [Member]	State of Ohio Assumed Debt [Member]	Term Loan [Member]	Term Loan [Member]
			Revolving Credit Facility [Member]	Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]	'	'	'	'	'	'	'	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	$150,000	'	'	'	'	'	'	'	'	'
Line of Credit Facility, Commitment Fee Percentage	'	'	0.09%	0.18%	'	'	'	'	'	'
Line of Credit Facility, Amount Outstanding	103,000	69,000	'	'	'	'	'	'	'	'
Letters of Credit Outstanding, Amount	8,900	8,700	'	'	'	'	'	'	'	'
Line of Credit Facility, Remaining Borrowing Capacity	38,100	72,300	'	'	'	'	'	'	'	'
Debt, Weighted Average Interest Rate	0.85%	'	'	'	'	'	'	'	'	'
Debt Instrument, Face Amount	'	'	'	'	'	'	'	2,400	100,000	'
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	'	'	'	'	'	3.19%	3.19%	1.50%	1.06%	'
Long-term Debt	'	'	'	'	120,000	120,000	'	2,300	98,800	99,400
Debt Instrument, Unused Borrowing Capacity, Amount	'	'	'	'	$5,000	'	'	'	'	'

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Recurring [Member], USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Level 1 [Member]	'	'
Fair Value Measurements (Textuals) [Line Items]	'	'
Marketable securities	$10,957	$11,011
Prudential Facility [Domain] | Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value Measurements (Textuals) [Line Items]	'	'
Debt Instrument, Fair Value Disclosure	$120,000	'

Shareholders_Equity_Accumulate

Shareholders' Equity Accumulated Other Comprehensive Income (Loss) [Table] (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Balance at beginning of period	($1,615)	'
Other Comprehensive Income (Loss), Unrealized gain (loss) on securities available for sale	-27	23
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	-19,105	550
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	-19,088	631
Balance at September 30, 2014	-20,703	'
Foreign Currency Translation Adjustment [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Balance at beginning of period	989	'
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment	-19,105	'
Amounts reclassified from accumulated other comprehensive income (loss)	0	'
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	-19,105	'
Balance at September 30, 2014	-18,116	'
Postemployment benefits [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Balance at beginning of period	-2,625	'
Other Comprehensive Income (Loss), Postemployment Benefits,	'	'
Amounts reclassified from accumulated other comprehensive income (loss)	44	'
Net current-period other comprehensive income (loss), net of taxes, Postemployment benefits	44	'
Balance at September 30, 2014	-2,581	'
Unrealized gain (loss) on securities available for sale [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Balance at beginning of period	21	'
Other Comprehensive Income (Loss), Unrealized gain (loss) on securities available for sale	-27	'
Amounts reclassified from accumulated other comprehensive income (loss)	0	'
Net current-period other comprehensive income (loss), net of taxes, Unrealized gain (loss) on securities available for sale	-27	'
Balance at September 30, 2014	-6	'
Total Accumulated Other Comprehensive Income (Loss) [Member]	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Balance at beginning of period	-1,615	'
Other Comprehensive Income (Loss), Total accumulated other comprehensive income (loss)	-19,132	'
Amounts reclassified from accumulated other comprehensive income (loss)	44	'
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	-19,088	'
Balance at September 30, 2014	($20,703)	'

Shareholders_Equity_Details_1

Shareholders' Equity (Details 1 ) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Other comprehensive income (loss):	'	'
Foreign currency translation adjustments, before Tax	($19,105)	$550
Foreign currency translation adjustments, Tax	'	0
Foreign currency translation adjustments, Net of Tax	-19,105	550
Postemployment benefits:	'	'
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs, before Tax	72	95
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs, Tax	28	37
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs, Net Of Tax	44	58
Unrealized gain (loss) on investment securities available for sale, before Tax	-41	34
Unrealized gain (loss) on investment securities available for sale, Tax	-14	11
Unrealized gain (loss) on investment securities available for sale, Net of Tax	-27	23
Other comprehensive income (loss), before tax	-19,074	679
Other comprehensive income (loss), Tax	14	48
Other comprehensive income (loss), net of tax	($19,088)	$631

Shareholders_Equity_Shareholde

Shareholders' Equity Shareholders Equity Details Textuals (Details)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Statement of Stockholders' Equity [Abstract]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	239	272

Benefit_Plans_Details

Benefit Plans (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Pension Benefits [Member]	'	'
Components of net periodic cost:	'	'
Service cost	$24	$19
Interest cost	224	295
Expected return on plan assets	-124	-104
Recognized net actuarial (gain) loss	140	153
Amortization of prior service cost	22	20
Net periodic cost	286	383
Retiree Health Care Benefits [Member]	'	'
Components of net periodic cost:	'	'
Service cost	13	12
Interest cost	24	35
Expected return on plan assets	0	0
Recognized net actuarial (gain) loss	-22	-9
Amortization of prior service cost	-68	-68
Net periodic cost	($53)	($30)

Benefit_Plans_Details_Textuals

Benefit Plans (Details Textuals) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Pension Plans, Defined Benefit [Member]	'
Benefit Plans (Textuals) [Abstract]	'
Contribution to benefit plan	$5,832
Expected contribution to benefit plans for remainder of fiscal year	570
Retiree Health Care Benefits [Member]	'
Benefit Plans (Textuals) [Abstract]	'
Contribution to benefit plan	40
Expected contribution to benefit plans for remainder of fiscal year	$120

Segment_and_Geographic_Informa2

Segment and Geographic Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014
Segment financial information	'	'	'
Net sales	$702,325	$605,305	'
Operating income for reportable segments	46,165	39,539	'
Assets used in business	1,468,919	'	1,334,169
Depreciation and amortization of property	4,211	3,431	'
Capital expenditures	3,100	1,571	'
Operating Segments [Member]	'	'	'
Segment financial information	'	'	'
Operating income for reportable segments	50,468	37,829	'
Service Center Based Distribution [Member]	'	'	'
Segment financial information	'	'	'
Net sales	575,097	492,072	'
Operating income for reportable segments	37,535	28,372	'
Assets used in business	1,251,565	841,770	'
Depreciation and amortization of property	3,843	2,999	'
Capital expenditures	2,738	1,394	'
Fluid Power Businesses [Member]	'	'	'
Segment financial information	'	'	'
Net sales	127,228	113,233	'
Operating income for reportable segments	12,933	9,457	'
Assets used in business	217,354	208,319	'
Depreciation and amortization of property	368	432	'
Capital expenditures	362	177	'
Reportable Subsegments [Member]	'	'	'
Segment financial information	'	'	'
Assets used in business	$1,468,919	$1,050,089	'

Segment_and_Geographic_Informa3

Segment and Geographic Information (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Reconciliation of operating income for reportable segments to the consolidated income before income taxes	'	'
Total operating income	$46,165	$39,539
Adjustment for:	'	'
Intangible amortization	6,491	3,249
Corporate and other expense (income), net	-2,188	-4,959
Interest (Income) Expense, net	1,662	61
Other (Income) Expense, net	244	-1,091
Income before income taxes	44,259	40,569
Operating Segments [Member]	'	'
Reconciliation of operating income for reportable segments to the consolidated income before income taxes	'	'
Total operating income	50,468	37,829
Service Center Based Distribution [Member]	'	'
Reconciliation of operating income for reportable segments to the consolidated income before income taxes	'	'
Total operating income	37,535	28,372
Adjustment for:	'	'
Intangible amortization	4,867	1,495
Fluid Power Businesses [Member]	'	'
Reconciliation of operating income for reportable segments to the consolidated income before income taxes	'	'
Total operating income	12,933	9,457
Adjustment for:	'	'
Intangible amortization	$1,624	$1,754

Segment_and_Geographic_Informa4

Segment and Geographic Information (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Net sales are presented in geographic areas	'	'
Net Sales	$702,325	$605,305
United States	'	'
Net sales are presented in geographic areas	'	'
Net Sales	561,559	501,051
Canada	'	'
Net sales are presented in geographic areas	'	'
Net Sales	99,181	69,747
Other countries	'	'
Net sales are presented in geographic areas	'	'
Net Sales	$41,585	$34,507

Segment_and_Geographic_Informa5

Segment and Geographic Information (Details Textuals) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Segment and Geographic Information (Textuals) [Abstract]	'	'
Sales primarily from businesses segment	$5,573	$5,533

Other_Income_Expense_Net_Detai

Other (Income) Expense, Net (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Other Income and Expenses [Abstract]	'	'
Unrealized (gain) loss on assets held in rabbi trust for a nonqualified deferred compensation plan	$91	($596)
Elimination of one-month Canadian reporting lag, effective July 1, 2013	0	-1,167
Foreign currency transactions (gain) loss	54	605
Other, net	99	67
Total other (income) expense, net	$244	($1,091)

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], USD $)	1 Months Ended
In Thousands, unless otherwise specified	Nov. 03, 2014
Prudential Facility [Domain]	'
Subsequent Event [Line Items]	'
Increase in Borrowing Capacity	$100,000
Debt Instrument, Unused Borrowing Capacity, Amount	50,000
Prudential Facility - Series D [Domain]	'
Subsequent Event [Line Items]	'
Debt Instrument, Increase (Decrease), Net	$50,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.21%