Applied Industrial (AIT) 10-Q 4 May 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Mar. 31, 2015	Apr. 15, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	APPLIED INDUSTRIAL TECHNOLOGIES INC
Entity Central Index Key	109563
Current Fiscal Year End Date	-24
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		40,159,343

Condensed_Statements_of_Consol

Condensed Statements of Consolidated Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Net Sales	$679,994	$618,006	$2,074,021	$1,805,260
Cost of Sales	492,631	446,786	1,496,013	1,300,862
Gross Profit	187,363	171,220	578,008	504,398
Selling, Distribution and Administrative, including depreciation	143,591	131,047	441,264	384,849
Operating Income	43,772	40,173	136,744	119,549
Interest (Income) Expense, net	2,121	-11	5,738	-102
Other (Income) Expense, net	-887	-388	-263	-1,749
Income Before Income Taxes	42,538	40,572	131,269	121,400
Income Tax Expense	13,928	10,178	43,830	38,253
Net Income	$28,610	$30,394	$87,439	$83,147
Net Income Per Share - Basic	$0.70	$0.73	$2.12	$1.98
Net Income Per Share - Diluted	$0.70	$0.72	$2.11	$1.96
Cash dividends per common share	$0.27	$0.25	$0.77	$0.71
Weighted average common shares outstanding for basic computation	40,800	41,880	41,168	42,039
Dilutive effect of potential common shares	267	362	309	399
Weighted average common shares outstanding for diluted computation	41,067	42,242	41,477	42,438

Condensed_Statements_of_Consol1

Condensed Statements of Consolidated Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Net income per the condensed statements of consolidated income	$28,610	$30,394	$87,439	$83,147
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	-26,105	-3,876	-62,768	-10,736
Postemployment benefits:
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	71	96	214	287
Unrealized gain (loss) on investment securities available for sale	-9	49	44	148
Total of other comprehensive loss, before tax	-26,043	-3,731	-62,510	-10,301
Income tax expense related to items of other comprehensive income	24	53	98	162
Other comprehensive income (loss), net of tax	-26,067	-3,784	-62,608	-10,463
Comprehensive income, net of tax	$2,543	$26,610	$24,831	$72,684

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Current assets
Cash and cash equivalents	$55,165	$71,189
Accounts receivable, less allowances of $10,488 and $10,385	394,408	375,732
Inventories	381,085	335,747
Other current assets	55,359	53,480
Total current assets	886,017	836,148
Property, less accumulated depreciation of $160,619 and $156,872	104,680	103,596
Identifiable intangibles, net	203,978	159,508
Goodwill	252,717	193,494
Deferred tax assets	490	21,166
Other assets	18,271	20,257
TOTAL ASSETS	1,466,153	1,334,169
Current liabilities
Accounts payable	143,881	172,401
Current portion of long term debt	2,720	2,720
Compensation and related benefits	54,010	55,760
Other current liabilities	68,456	60,074
Total current liabilities	269,067	290,955
Long-term debt	386,956	167,992
Postemployment benefits	18,814	23,611
Other liabilities	55,005	51,303
TOTAL LIABILITIES	729,842	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	158,923	156,999
Retained earnings	952,355	896,776
Treasury shares—at cost (13,903 and 12,650 shares)	-320,744	-261,852
Accumulated other comprehensive income (loss)	-64,223	-1,615
TOTAL SHAREHOLDERS’ EQUITY	736,311	800,308
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$1,466,153	$1,334,169

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, except Share data, unless otherwise specified
Current Assets:
Accounts Receivable, less allowances	$10,448	$10,385
Noncurrent Assets:
Property, less accumulated depreciation	$160,619	$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	13,903,000	12,650,000

Condensed_Statements_of_Consol2

Condensed Statements of Consolidated Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities
Net income	$87,439	$83,147
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	12,792	10,119
Amortization of intangibles	19,412	9,518
Unrealized foreign exchange transactions (gain) loss	-790	136
Amortization of stock options and appreciation rights	1,381	1,703
Loss on sale of property	45	37
Other share-based compensation expense	1,123	2,946
Changes in operating assets and liabilities, net of acquisitions	-83,601	-60,451
Other, net	1,511	-2,829
Net Cash provided by Operating Activities	39,312	44,326
Cash Flows from Investing Activities
Property purchases	-11,009	-6,492
Proceeds from property sales	451	348
Acquisition of businesses, net of cash acquired	-166,479	-17,000
Net Cash used in Investing Activities	-177,037	-23,144
Cash Flows from Financing Activities
Borrowings under revolving credit facility	51,000	30,000
Long-term debt borrowings	170,238	0
Long-term debt repayments	-2,274	0
Purchases of treasury shares	-59,235	-23,992
Dividends paid	-31,807	-29,961
Excess tax benefits from share-based compensation	538	2,525
Acquisition holdback payments	-995	-1,824
Exercise of stock options and appreciation rights	232	95
Net Cash provided by (used in) Financing Activities	127,697	-23,157
Effect of Exchange Rate Changes on Cash	-5,996	-2,103
Decrease in Cash and Cash Equivalents	-16,024	-4,078
Cash and Cash Equivalents at Beginning of Period	71,189	73,164
Cash and Cash Equivalents at End of Period	$55,165	$69,086

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2015
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 March 31, 2015, and the results of its operations for the three and nine month periods ended March 31, 2015 and 2014 and its cash flows for the nine month periods ended March 31, 2015 and 2014, 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 and nine month periods ended March 31, 2015 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 nine 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 nine months ended March 31, 2014. The three months ended March 31, 2014 reflect the same results, had the financial statements been retrospectively adjusted. The nine months ended March 31, 2014 reflect the same results, had the financial statements been retrospectively adjusted, with the exception of net income which would have decreased $1,200.
	Change in Accounting Principle - Alignment of Mexican Subsidiary Reporting
	Effective January 1, 2014, the Company aligned the consolidation of the Company’s Mexican 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 $200 of income for the month of December 2013 has been included within “Other (Income) Expense, net” on the Statement of Consolidated Income for the three and nine months ended March 31, 2014. The three months ended March 31, 2014 reflect the same results, had the financial statements been retrospectively adjusted, with the exception of net income which would have decreased $200. Net sales, operating income and net income for the nine months ended March 31, 2014 would have decreased by $1,100, $100 and $300 had the financial statements been retrospectively adjusted.
	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	9 Months Ended
	Mar. 31, 2015
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 $132,500, 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 is 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 1.50% per annum.
	The following table summarizes the consideration transferred, assets acquired, and liabilities assumed in connection with the acquisition of Knox based on their estimated fair values at the acquisition date, including preliminary estimates of certain assets which are subject to adjustment:
		Knox Acquisition
	Accounts receivable	$	20,100
	Inventories	18,900
	Property	4,000
	Identifiable intangible assets	58,500
	Goodwill	63,400
	Total assets acquired	164,900
	Accounts payable and accrued liabilities	8,500
	Deferred income taxes	23,900
	Net assets acquired	$	132,500
	Purchase price	132,800
	Reconciliation of fair value transferred:
	Working Capital Adjustments	(300		)
	Total Consideration	$	132,500
	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.
	Other acquisitions during the year include the acquisition of 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 on July 1, 2014 as well as Ira Pump and Supply Inc. (Ira Pump) a Texas distributor of oilfield pumps and supplies on November 3, 2014. These companies are included in the Service Center Based Distribution Segment. The total combined consideration for these acquistions was approximately $54,900. Net tangible assets acquired were $21,300 and intangibles including goodwill were $33,600, based upon preliminary estimated fair values at the acquisition date, which are subject to adjustment. The Company funded these acquisitions from borrowings under our existing debt facilities. Total acquisition holdback payments of $6,900 will be paid at various times through November 2016. The results of operations for the Mexican, Australian and Ira Pump 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 were $27,500 and intangibles including goodwill were $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 were $3,900 and intangibles, including goodwill were $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:
	31-Mar-14	Three Months Ended			Nine Months Ended
	Pro forma financial information:
	Sales	$	672,883		$	1,974,698
	Operating income	$	45,407		$	135,330
	Net income	$	32,657		$	89,978
	Diluted net income per share	$	0.77		$	2.12
	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 acquisitions occurred as the date indicated or that may result in the future.

Goodwill_and_Intangibles

Goodwill and Intangibles	9 Months Ended
	Mar. 31, 2015
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 nine month period ended March 31, 2015 are as follows:
		Service Centers			Fluid Power			Total
	Balance at July 1, 2014	$	192,565		$	929		$	193,494
	Goodwill acquired during the period	77,951			—			77,951
	Other, primarily currency translation	(18,728		)	—			(18,728		)
	Balance at March 31, 2015	$	251,788		$	929		$	252,717
	At March 31, 2015, accumulated goodwill impairment losses, subsequent to fiscal year 2002, totaled $36,605 and related to the Fluid Power Businesses segment.
	The Company has seven reporting units and performed its annual goodwill impairment assessment as of January 1, 2015. The Company concluded that four of the reporting units had material excesses of fair value compared to their carrying amounts. The Company concluded that two reporting units (Canada service center and Australia / New Zealand) had excess fair value of approximately $39,000 and $4,000 or fifteen and fourteen percent, respectively when compared to its respective carrying amount. The techniques used in the Company's impairment test have incorporated a number of assumptions that the Company believes to be reasonable and to reflect market conditions forecast at the assessment date. Assumptions in estimating future cash flows are subject to a high degree of judgment. The Company makes all efforts to forecast future cash flows as accurately as possible with the information available at the time the forecast is made. To this end, the Company evaluates the appropriateness of its assumptions as well as its overall forecasts by comparing projected results of upcoming years with actual results of preceding years and validating that differences therein are reasonable. Key assumptions, all of which are Level 3 inputs, relate to pricing trends, inventory costs, discount rate, customer demand, and the long-term growth and foreign exchange rates. A number of benchmarks from independent industry and other economic publications were also used. Changes in future actual results, assumptions and estimates after the assessment date may lead to an outcome where impairment charges would be required in future periods. Specifically, actual results may vary from the Company’s forecasts and such variations may be material and unfavorable, thereby triggering the need for future impairment tests where the conclusions may differ in reflection of prevailing market conditions.
	The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following:
	March 31, 2015		Amount			Accumulated			Net Book
						Amortization			Value
	Finite-Lived Identifiable Intangibles:
	Customer relationships		$	224,089		$	60,567		$	163,522
	Trade names		42,526			12,413			30,113
	Vendor relationships		14,565			7,032			7,533
	Non-competition agreements		4,576			1,771			2,805
	Total Identifiable Intangibles		$	285,756		$	81,783		$	203,973
	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 nine month period ended March 31, 2015, 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		$	68,250		19.5
	Trade names		7,678			14.7
	Non-competition agreements		1,669			5
	Total Intangibles Acquired		$	77,597		18.7
	Estimated future amortization expense by fiscal year (based on the Company’s identifiable intangible assets as of March 31, 2015) for the next five years is as follows: $6,200 for the remainder of 2015, $24,400 for 2016, $22,900 for 2017, $21,000 for 2018, $19,100 for 2019 and $17,400 for 2020.

Debt_Notes

Debt (Notes)	9 Months Ended
	Mar. 31, 2015
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 March 31, 2015 and June 30, 2014, the Company had $120,000 and $69,000 outstanding under this credit facility, respectively. Unused lines under this facility, net of outstanding letters of credit of $6,800 and $8,700 to secure certain insurance obligations, totaled $23,000 and $72,300 at March 31, 2015 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 March 31, 2015 was 1.06% 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 March 31, 2015 was 1.19% and at June 30, 2014 was 1.06%. The term loan had $97,500 and $99,400 outstanding at March 31, 2015 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 March 31, 2015 and June 30, 2014, $2,200 and $2,300 was outstanding, respectively.
	At March 31, 2015, the Company had borrowings outstanding under its unsecured shelf facility agreement with Prudential Investment Management of $170,000. The "Series C" notes have a principal amount of $120,000 and carry a fixed interest rate of 3.19%, which is due in equal principal payments in July 2020, 2021 and 2022. The "Series D" notes have a principle amount of $50,000 and carry a fixed interest rate of 3.21% which is due in equal principal payments in October 2019 and 2023. As of March 31, 2015, $50,000 in additional financing was available under this facility.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS
	Marketable securities measured at fair value at March 31, 2015 and June 30, 2014 totaled $9,828 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 debt outstanding under the shelf facility agreement with Prudential Investment Management approximates carrying value at March 31, 2015. (Level 2 in the fair value hierarchy)
	The revolving credit facility and the term loan contain variable interest rates and their carrying values approximated fair value at both March 31, 2015 and June 30, 2014 (Level 2 in the fair value hierarchy).

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Mar. 31, 2015
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 March 31, 2015
		Foreign currency translation adjustment			Unrealized gain (loss) on securities available for sale			Postemployment benefits			Total Accumulated other comprehensive income (loss)
	Balance at December 31, 2014	$	(35,674	)	$	56		$	(2,538	)	$	(38,156	)
	Other comprehensive income (loss)	(26,105		)	(6		)				(26,111		)
	Amounts reclassified from accumulated other comprehensive income (loss)							44			44
	Net current-period other comprehensive income (loss), net of taxes	(26,105		)	(6		)	44			(26,067		)
	Balance at March 31, 2015	$	(61,779	)	$	50		$	(2,494	)	$	(64,223	)
		Nine Months Ended March 31, 2015
		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)	(62,768		)	29						(62,739		)
	Amounts reclassified from accumulated other comprehensive income (loss)							131			131
	Net current-period other comprehensive income (loss), net of taxes	(62,768		)	29			131			(62,608		)
	Balance at March 31, 2015	$	(61,779	)	$	50		$	(2,494	)	$	(64,223	)
	Other Comprehensive Income (Loss)
	Details of other comprehensive income (loss) are as follows:
		Three Months Ended March 31,
		2015									2014
		Pre-Tax Amount			Tax Expense (Benefit)			Net Amount			Pre-Tax Amount			Tax Expense (Benefit)		Net Amount
	Foreign currency translation adjustments	$	(26,105	)	$	—		$	(26,105	)	$	(3,876	)	$	—	$	(3,876	)
	Postemployment benefits:
	Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	71			27			44			96			37		59
	Unrealized gain (loss) on investment securities available for sale	(9		)	(3		)	(6		)	49			16		33
	Other comprehensive income (loss)	$	(26,043	)	$	24		$	(26,067	)	$	(3,731	)	$	53	$	(3,784	)
		Nine Months Ended March 31,
		2015									2014
		Pre-Tax Amount			Tax Expense (Benefit)			Net Amount			Pre-Tax Amount			Tax Expense (Benefit)		Net Amount
	Foreign currency translation adjustments	$	(62,768	)	$	—		$	(62,768	)	$	(10,736	)	$	—	$	(10,736	)
	Postemployment benefits:
	Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	214			83			131			287			112		175
	Unrealized gain (loss) on investment securities available for sale	44			15			29			148			50		98
	Other comprehensive income (loss)	$	(62,510	)	$	98		$	(62,608	)	$	(10,301	)	$	162	$	(10,463	)
	Antidilutive Common Stock Equivalents
	In the three month periods ended March 31, 2015 and 2014, stock options and stock appreciation rights related to 450 and 306 thousand 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. In the nine month periods ended March 31, 2015 and 2014, stock options and stock appreciation rights related to 487 and 306 thousand 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	9 Months Ended
	Mar. 31, 2015
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 March 31,	2015			2014			2015			2014
	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 loss (gain)	140			153			(22		)	(9		)
	Amortization of prior service cost	21			20			(68		)	(68		)
	Net periodic cost	$	285		$	383		$	(53	)	$	(30	)
		Pension Benefits						Retiree Health Care
								Benefits
	Nine Months Ended March 31,	2015			2014			2015			2014
	Components of net periodic cost:
	Service cost	$	73		$	57		$	39		$	36
	Interest cost	672			885			71			104
	Expected return on plan assets	(371		)	(312		)
	Recognized net actuarial loss (gain)	419			459			(66		)	(28		)
	Amortization of prior service cost	64			59			(203		)	(203		)
	Net periodic cost	$	857		$	1,148		$	(159	)	$	(91	)
	The Company contributed $6,129 to its pension benefit plans and $120 to its retiree health care plans in the nine months ended March 31, 2015. Expected contributions for the remainder of fiscal 2015 are $200 for the pension benefit plans to fund scheduled retirement payments and $40 for retiree health care plans.

Segment_and_Geographic_Informa

Segment and Geographic Information	9 Months Ended
	Mar. 31, 2015
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 $6,124 and $5,369, in the three months ended March 31, 2015 and 2014, respectively, and $17,760 and $16,564 in the nine months ended March 31, 2015 and 2014, respectively, have been eliminated in the Segment Financial Information tables below.
	Three Months Ended	Service Center Based Distribution			Fluid Power Businesses			Total
	March 31, 2015
	Net sales	$	557,088		$	122,906		$	679,994
	Operating income for reportable segments	33,788			11,751			45,539
	Depreciation and amortization of property	4,129			332			4,461
	Capital expenditures	2,801			402			3,203
	March 31, 2014
	Net sales	$	492,678		$	125,328		$	618,006
	Operating income for reportable segments	28,754			13,442			42,196
	Depreciation and amortization of property	2,964			363			3,327
	Capital expenditures	2,021			345			2,366
	Nine Months Ended	Service Center Based Distribution			Fluid Power Businesses			Total
	March 31, 2015
	Net sales	$	1,701,722		$	372,299		$	2,074,021
	Operating income for reportable segments	105,903			36,908			142,811
	Assets used in business	1,256,266			209,887			1,466,153
	Depreciation and amortization of property	11,741			1,051			12,792
	Capital expenditures	9,875			1,134			11,009
	March 31, 2014
	Net sales	$	1,450,705		$	354,555		$	1,805,260
	Operating income for reportable segments	82,695			33,263			115,958
	Assets used in business	879,349			217,302			1,096,651
	Depreciation and amortization of property	8,951			1,168			10,119
	Capital expenditures	5,755			737			6,492
	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						Nine Months Ended
		March 31,						March 31,
		2015			2014			2015			2014
	Operating income for reportable segments	$	45,539		$	42,196		$	142,811		$	115,958
	Adjustment for:
	Intangible amortization—Service Center Based Distribution	4,811			1,102			14,696			4,484
	Intangible amortization—Fluid Power Businesses	1,542			2,086			4,716			5,034
	Corporate and other (income) expense, net	(4,586		)	(1,165		)	(13,345		)	(13,109		)
	Total operating income	43,772			40,173			136,744			119,549
	Interest (income) expense, net	2,121			(11		)	5,738			(102		)
	Other (income) expense, net	(887		)	(388		)	(263		)	(1,749		)
	Income before income taxes	$	42,538		$	40,572		$	131,269		$	121,400
	The change in corporate and other (income) expense, net is due to changes in the amounts and levels of certain supplier support benefits and 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						Nine Months Ended
		March 31,						March 31,
		2015			2014			2015			2014
	Geographic Areas:
	United States	$	562,563		$	519,713		$	1,673,927		$	1,500,252
	Canada	79,957			64,922			282,661			202,439
	Other countries	37,474			33,371			117,433			102,569
	Total	$	679,994		$	618,006		$	2,074,021		$	1,805,260
	Other countries consist of Mexico, Australia and New Zealand.

Other_Income_Expense_Net

Other (Income) Expense, Net	9 Months Ended
	Mar. 31, 2015
Other Income and Expenses [Abstract]
OTHER (INCOME) EXPENSE, NET	OTHER (INCOME) EXPENSE , NET
	Other (income) expense, net consists of the following:
		Three Months Ended						Nine Months Ended
		March 31,						March 31,
		2015			2014			2015			2014
	Unrealized (gain) loss on assets held in rabbi trust for a nonqualified deferred compensation plan	$	(245	)	$	(110	)	$	(418	)	$	(1,355	)
	Elimination of one-month Canadian and Mexican reporting lags, effective July 1, 2013 and January 1, 2014, respectively				(175		)				(1,342		)
	Foreign currency transactions (gain) loss	(474		)	46			153			953
	Other, net	(168		)	(149		)	2			(5		)
	Total other (income) expense, net	$	(887	)	$	(388	)	$	(263	)	$	(1,749	)

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	9 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Change in Accounting Principle - Alignment of Mexican Subsidiary Reporting
	Effective January 1, 2014, the Company aligned the consolidation of the Company’s Mexican 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 $200 of income for the month of December 2013 has been included within “Other (Income) Expense, net” on the Statement of Consolidated Income for the three and nine months ended March 31, 2014. The three months ended March 31, 2014 reflect the same results, had the financial statements been retrospectively adjusted, with the exception of net income which would have decreased $200. Net sales, operating income and net income for the nine months ended March 31, 2014 would have decreased by $1,100, $100 and $300 had the financial statements been retrospectively adjusted.
	Change in Accounting Principle - U.S. Inventory Costing Methodology
	Over the past nine 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 nine months ended March 31, 2014. The three months ended March 31, 2014 reflect the same results, had the financial statements been retrospectively adjusted. The nine months ended March 31, 2014 reflect the same results, had the financial statements been retrospectively adjusted, with the exception of net income which would have decreased $1,200.
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 (Tables)	9 Months Ended
	Mar. 31, 2015				Mar. 31, 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:
					31-Mar-14	Three Months Ended		Nine Months Ended
					Pro forma financial information:
					Sales	$	672,883	$	1,974,698
					Operating income	$	45,407	$	135,330
					Net income	$	32,657	$	89,978
					Diluted net income per share	$	0.77	$	2.12
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 estimated fair values at the acquisition date, including preliminary estimates of certain assets which are subject to adjustment:
		Knox Acquisition
	Accounts receivable	$	20,100
	Inventories	18,900
	Property	4,000
	Identifiable intangible assets	58,500
	Goodwill	63,400
	Total assets acquired	164,900
	Accounts payable and accrued liabilities	8,500
	Deferred income taxes	23,900
	Net assets acquired	$	132,500
	Purchase price	132,800
	Reconciliation of fair value transferred:
	Working Capital Adjustments	(300		)
	Total Consideration	$	132,500
	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.

Goodwill_and_Intangibles_Table

Goodwill and Intangibles (Tables)	9 Months Ended
	Mar. 31, 2015
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 nine month period ended March 31, 2015 are as follows:
		Service Centers			Fluid Power			Total
	Balance at July 1, 2014	$	192,565		$	929		$	193,494
	Goodwill acquired during the period	77,951			—			77,951
	Other, primarily currency translation	(18,728		)	—			(18,728		)
	Balance at March 31, 2015	$	251,788		$	929		$	252,717
	At March 31, 2015, 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:
	March 31, 2015		Amount			Accumulated			Net Book
						Amortization			Value
	Finite-Lived Identifiable Intangibles:
	Customer relationships		$	224,089		$	60,567		$	163,522
	Trade names		42,526			12,413			30,113
	Vendor relationships		14,565			7,032			7,533
	Non-competition agreements		4,576			1,771			2,805
	Total Identifiable Intangibles		$	285,756		$	81,783		$	203,973
	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 nine month period ended March 31, 2015, 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		$	68,250		19.5
	Trade names		7,678			14.7
	Non-competition agreements		1,669			5
	Total Intangibles Acquired		$	77,597		18.7

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	9 Months Ended
	Mar. 31, 2015
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 March 31, 2015
		Foreign currency translation adjustment			Unrealized gain (loss) on securities available for sale			Postemployment benefits			Total Accumulated other comprehensive income (loss)
	Balance at December 31, 2014	$	(35,674	)	$	56		$	(2,538	)	$	(38,156	)
	Other comprehensive income (loss)	(26,105		)	(6		)				(26,111		)
	Amounts reclassified from accumulated other comprehensive income (loss)							44			44
	Net current-period other comprehensive income (loss), net of taxes	(26,105		)	(6		)	44			(26,067		)
	Balance at March 31, 2015	$	(61,779	)	$	50		$	(2,494	)	$	(64,223	)
		Nine Months Ended March 31, 2015
		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)	(62,768		)	29						(62,739		)
	Amounts reclassified from accumulated other comprehensive income (loss)							131			131
	Net current-period other comprehensive income (loss), net of taxes	(62,768		)	29			131			(62,608		)
	Balance at March 31, 2015	$	(61,779	)	$	50		$	(2,494	)	$	(64,223	)
Schedule of Comprehensive Income (Loss) [Table Text Block]	Details of other comprehensive income (loss) are as follows:
		Three Months Ended March 31,
		2015									2014
		Pre-Tax Amount			Tax Expense (Benefit)			Net Amount			Pre-Tax Amount			Tax Expense (Benefit)		Net Amount
	Foreign currency translation adjustments	$	(26,105	)	$	—		$	(26,105	)	$	(3,876	)	$	—	$	(3,876	)
	Postemployment benefits:
	Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	71			27			44			96			37		59
	Unrealized gain (loss) on investment securities available for sale	(9		)	(3		)	(6		)	49			16		33
	Other comprehensive income (loss)	$	(26,043	)	$	24		$	(26,067	)	$	(3,731	)	$	53	$	(3,784	)
		Nine Months Ended March 31,
		2015									2014
		Pre-Tax Amount			Tax Expense (Benefit)			Net Amount			Pre-Tax Amount			Tax Expense (Benefit)		Net Amount
	Foreign currency translation adjustments	$	(62,768	)	$	—		$	(62,768	)	$	(10,736	)	$	—	$	(10,736	)
	Postemployment benefits:
	Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs	214			83			131			287			112		175
	Unrealized gain (loss) on investment securities available for sale	44			15			29			148			50		98
	Other comprehensive income (loss)	$	(62,510	)	$	98		$	(62,608	)	$	(10,301	)	$	162	$	(10,463	)

Benefit_Plans_Tables

Benefit Plans (Tables)	9 Months Ended
	Mar. 31, 2015
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 March 31,	2015			2014			2015			2014
	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 loss (gain)	140			153			(22		)	(9		)
	Amortization of prior service cost	21			20			(68		)	(68		)
	Net periodic cost	$	285		$	383		$	(53	)	$	(30	)
		Pension Benefits						Retiree Health Care
								Benefits
	Nine Months Ended March 31,	2015			2014			2015			2014
	Components of net periodic cost:
	Service cost	$	73		$	57		$	39		$	36
	Interest cost	672			885			71			104
	Expected return on plan assets	(371		)	(312		)
	Recognized net actuarial loss (gain)	419			459			(66		)	(28		)
	Amortization of prior service cost	64			59			(203		)	(203		)
	Net periodic cost	$	857		$	1,148		$	(159	)	$	(91	)

Segment_and_Geographic_Informa1

Segment and Geographic Information (Tables)	9 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment financial information
	Three Months Ended	Service Center Based Distribution			Fluid Power Businesses			Total
	March 31, 2015
	Net sales	$	557,088		$	122,906		$	679,994
	Operating income for reportable segments	33,788			11,751			45,539
	Depreciation and amortization of property	4,129			332			4,461
	Capital expenditures	2,801			402			3,203
	March 31, 2014
	Net sales	$	492,678		$	125,328		$	618,006
	Operating income for reportable segments	28,754			13,442			42,196
	Depreciation and amortization of property	2,964			363			3,327
	Capital expenditures	2,021			345			2,366
	Nine Months Ended	Service Center Based Distribution			Fluid Power Businesses			Total
	March 31, 2015
	Net sales	$	1,701,722		$	372,299		$	2,074,021
	Operating income for reportable segments	105,903			36,908			142,811
	Assets used in business	1,256,266			209,887			1,466,153
	Depreciation and amortization of property	11,741			1,051			12,792
	Capital expenditures	9,875			1,134			11,009
	March 31, 2014
	Net sales	$	1,450,705		$	354,555		$	1,805,260
	Operating income for reportable segments	82,695			33,263			115,958
	Assets used in business	879,349			217,302			1,096,651
	Depreciation and amortization of property	8,951			1,168			10,119
	Capital expenditures	5,755			737			6,492
	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						Nine Months Ended
		March 31,						March 31,
		2015			2014			2015			2014
	Operating income for reportable segments	$	45,539		$	42,196		$	142,811		$	115,958
	Adjustment for:
	Intangible amortization—Service Center Based Distribution	4,811			1,102			14,696			4,484
	Intangible amortization—Fluid Power Businesses	1,542			2,086			4,716			5,034
	Corporate and other (income) expense, net	(4,586		)	(1,165		)	(13,345		)	(13,109		)
	Total operating income	43,772			40,173			136,744			119,549
	Interest (income) expense, net	2,121			(11		)	5,738			(102		)
	Other (income) expense, net	(887		)	(388		)	(263		)	(1,749		)
	Income before income taxes	$	42,538		$	40,572		$	131,269		$	121,400
	The change in corporate and other (income) expense, net is due to changes in the amounts and levels of certain supplier support benefits and 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						Nine Months Ended
		March 31,						March 31,
		2015			2014			2015			2014
	Geographic Areas:
	United States	$	562,563		$	519,713		$	1,673,927		$	1,500,252
	Canada	79,957			64,922			282,661			202,439
	Other countries	37,474			33,371			117,433			102,569
	Total	$	679,994		$	618,006		$	2,074,021		$	1,805,260
	Other countries consist of Mexico, Australia and New Zealand

Other_Income_Expense_Net_Table

Other (Income) Expense, Net (Tables)	9 Months Ended
	Mar. 31, 2015
Other Income and Expenses [Abstract]
Other expense (income), net	Other (income) expense, net consists of the following:
		Three Months Ended						Nine Months Ended
		March 31,						March 31,
		2015			2014			2015			2014
	Unrealized (gain) loss on assets held in rabbi trust for a nonqualified deferred compensation plan	$	(245	)	$	(110	)	$	(418	)	$	(1,355	)
	Elimination of one-month Canadian and Mexican reporting lags, effective July 1, 2013 and January 1, 2014, respectively				(175		)				(1,342		)
	Foreign currency transactions (gain) loss	(474		)	46			153			953
	Other, net	(168		)	(149		)	2			(5		)
	Total other (income) expense, net	$	(887	)	$	(388	)	$	(263	)	$	(1,749	)

Basis_of_Presentation_Change_i

Basis of Presentation Change in Accounting Principle (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income		$175		$1,342
Net Sales Impact [Member] [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income				1,200
Operating Income Impact [Member]
Impact of Retrospective Adjustment				100
Net Sales Impact [Member] [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income		200		200
Impact of Retrospective Adjustment				1,100
Net Income Impact [Member]
Impact of Retrospective Adjustment				$300

Business_Combinations_Business1

Business Combinations Business Combinations Textuals (Details) (USD $)	9 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014	Jul. 01, 2014	1-May-14	Dec. 31, 2013
Knox Acquisition [Member]
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Total Consideration	$132,500
Cash Paid at Closing				118,000
Funding from Holdback Payments				14,000
Debt Instrument, Interest Rate During Period	1.50%
Total assets acquired				164,900
Rodensa & GSB Acquisition [Member]
Total Consideration	54,900
Funding from Holdback Payments				6,900
Total assets acquired				21,300
Goodwill plus Intangibles Acquired				33,600
Reliance Acquisition [Member]
Business Acquisition, Percentage of Voting Interests Acquired					100.00%
Total Consideration		179,800
Funding from Holdback Payments					20,000
Debt Instrument, Interest Rate During Period		2.00%
Total assets acquired					27,500
Goodwill plus Intangibles Acquired					152,300
Funding from Canadian Cash					31,900
Funding From Existing Credit Facility					36,600
Funding from New Credit Facility					100,000
Tops Acquisition [Member]
Total Consideration			17,000
Funding from Holdback Payments						2,550
Total assets acquired						3,900
Goodwill plus Intangibles Acquired						13,100
Prudential Facility [Member]
Long-term Debt	$170,000			$120,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate				3.19%

Business_Combinations_Knox_Fai

Business Combinations Knox - Fair Value of Assets Acquired (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jul. 01, 2014	Jun. 30, 2014
Goodwill	$252,717	$193,494	$193,494
Knox Acquisition [Member]
Accounts receivable		20,100
Inventories		18,900
Property		4,000
Identifiable intangible assets		58,500
Goodwill		63,400
Total assets acquired		164,900
Accounts payable and accrued liabilities		8,500
Deferred income taxes		23,900
Net assets acquired		132,500
Purchase price	132,800
Working Capital Adjustments	-300
Total Consideration	$132,500

Business_Combinations_Pro_Form

Business Combinations Pro - Forma Information (Details) (USD $)	3 Months Ended	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014
Business Combinations [Abstract]
Sales	$672,883	$1,974,698
Operating income	45,407	135,330
Net income	$32,657	$89,978
Diluted net income per share	$0.77	$2.12

Goodwill_and_Intangibles_Detai

Goodwill and Intangibles (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Changes in the carrying amount of goodwill by reportable segment
Balance at July 1, 2014	$193,494
Goodwill acquired during the period	77,951
Other, primarily currency translation	-18,728
Balance at March 31, 2015	252,717
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	77,951
Other, primarily currency translation	-18,728
Balance at March 31, 2015	251,788
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 March 31, 2015	$929

Goodwill_and_Intangibles_Detai1

Goodwill and Intangibles (Details 1) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Amortization details resulting from business combinations
Amount	$285,756	$226,075
Accumulated Amortization	81,783	66,567
Net Book Value	203,973	159,508
Total Identifiable Intangible	203,978	159,508
Customer relationships
Amortization details resulting from business combinations
Amount	224,089	170,395
Accumulated Amortization	60,567	48,285
Net Book Value	163,522	122,110
Trade names
Amortization details resulting from business combinations
Amount	42,526	36,912
Accumulated Amortization	12,413	10,394
Net Book Value	30,113	26,518
Vendor relationships
Amortization details resulting from business combinations
Amount	14,565	15,446
Accumulated Amortization	7,032	6,628
Net Book Value	7,533	8,818
Non-competition agreements
Amortization details resulting from business combinations
Amount	4,576	3,322
Accumulated Amortization	1,771	1,260
Net Book Value	$2,805	$2,062

Goodwill_and_Intangibles_Goodw

Goodwill and Intangibles Goodwill and Intangibles (Details 2) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Acquisition Cost Allocation	$77,597
Weighted-Average Life	18 years 8 months 12 days
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquisition Cost Allocation	68,250
Weighted-Average Life	19 years 6 months
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquisition Cost Allocation	7,678
Weighted-Average Life	14 years 8 months 12 days
Noncompete Agreements [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquisition Cost Allocation	$1,669
Weighted-Average Life	5 years

Goodwill_and_Intangibles_Detai2

Goodwill and Intangibles (Details Textuals) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Goodwill and Intangibles (Textuals) [Abstract]
Amortization expense for the remainder of 2015	$6,200
Amortization expense for 2016	24,400
Amortization expense for 2017	22,900
Amortization expense for 2018	21,000
Amortization expense for 2019	19,100
Amortization expense for 2020	17,400
Fluid Power Businesses [Member]
Goodwill [Line Items]
Accumulated goodwill impairment losses	$36,605

Debt_Details

Debt (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jun. 30, 2014	Jul. 01, 2014
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	150,000
Line of Credit Facility, Amount Outstanding	120,000	69,000
Letters of Credit Outstanding, Amount	6,800	8,700
Line of Credit Facility, Remaining Borrowing Capacity	23,000	72,300
Debt, Weighted Average Interest Rate	1.06%	0.85%
Minimum [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.09%
Maximum [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.18%
Prudential Facility [Domain]
Line of Credit Facility [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate			3.19%
Long-term Debt	170,000		120,000
Debt Instrument, Unused Borrowing Capacity, Amount	50,000
State of Ohio Assumed Debt [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	2,400
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	1.50%
Long-term Debt	2,200	2,300
Term Loan [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	100,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	1.19%	1.06%
Long-term Debt	97,500	99,400
Prudential Facility - Series D [Domain] | Prudential Facility [Domain]
Line of Credit Facility [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.21%
Long-term Debt	50,000
Prudential Facility - Series C [Member] | Prudential Facility [Domain]
Line of Credit Facility [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.19%
Long-term Debt	120,000

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Level 1 [Member], Recurring [Member], USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Level 1 [Member] | Recurring [Member]
Fair Value Measurements (Textuals) [Line Items]
Marketable securities	$9,828	$11,011

Shareholders_Equity_Accumulate

Shareholders' Equity Accumulated Other Comprehensive Income (Loss) [Table] (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
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	-6	33	29	98
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	-26,105	-3,876	-62,768	-10,736
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	-26,067	-3,784	-62,608	-10,463
Balance at March 31, 2015	-64,223		-64,223
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	-35,674		989
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment	-26,105		-62,768
Amounts reclassified from accumulated other comprehensive income (loss)
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	-26,105		-62,768
Balance at March 31, 2015	-61,779		-61,779
Unrealized gain (loss) on securities available for sale [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	56		21
Other Comprehensive Income (Loss), Unrealized gain (loss) on securities available for sale	-6		29
Amounts reclassified from accumulated other comprehensive income (loss)
Net current-period other comprehensive income (loss), net of taxes, Unrealized gain (loss) on securities available for sale	-6		29
Balance at March 31, 2015	50		50
Postemployment benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	-2,538		-2,625
Other Comprehensive Income (Loss), Postemployment Benefits,
Amounts reclassified from accumulated other comprehensive income (loss)	44		131
Net current-period other comprehensive income (loss), net of taxes, Postemployment benefits	44		131
Balance at March 31, 2015	-2,494		-2,494
Total Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	-38,156		-1,615
Other Comprehensive Income (Loss), Total accumulated other comprehensive income (loss)	-26,111		-62,739
Amounts reclassified from accumulated other comprehensive income (loss)	44		131
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	-26,067		-62,608
Balance at March 31, 2015	($64,223)		($64,223)

Shareholders_Equity_Details_1

Shareholders' Equity (Details 1 ) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Other comprehensive income (loss):
Foreign currency translation adjustments, before Tax	($26,105)	($3,876)	($62,768)	($10,736)
Foreign currency translation adjustments, Tax	0	0	0	0
Foreign currency translation adjustments, Net of Tax	-26,105	-3,876	-62,768	-10,736
Postemployment benefits:
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs, before Tax	71	96	214	287
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs, Tax	27	37	83	112
Reclassification of actuarial losses and prior service cost into SD&A expense and included in net periodic pension costs, Net Of Tax	44	59	131	175
Unrealized gain (loss) on investment securities available for sale, before Tax	-9	49	44	148
Unrealized gain (loss) on investment securities available for sale, Tax	-3	16	15	50
Unrealized gain (loss) on investment securities available for sale, Net of Tax	-6	33	29	98
Other comprehensive income (loss), before tax	-26,043	-3,731	-62,510	-10,301
Other comprehensive income (loss), Tax	24	53	98	162
Other comprehensive income (loss), net of tax	($26,067)	($3,784)	($62,608)	($10,463)

Shareholders_Equity_Shareholde

Shareholders' Equity Shareholders Equity Details Textuals (Details)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Statement of Stockholders' Equity [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	450	306	487	306

Benefit_Plans_Details

Benefit Plans (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Pension Benefits [Member]
Components of net periodic cost:
Service cost	$24	$19	$73	$57
Interest cost	224	295	672	885
Expected return on plan assets	-124	-104	-371	-312
Recognized net actuarial loss (gain)	140	153	419	459
Amortization of prior service cost	21	20	64	59
Net periodic cost	285	383	857	1,148
Retiree Health Care Benefits [Member]
Components of net periodic cost:
Service cost	13	12	39	36
Interest cost	24	35	71	104
Expected return on plan assets
Recognized net actuarial loss (gain)	-22	-9	-66	-28
Amortization of prior service cost	-68	-68	-203	-203
Net periodic cost	($53)	($30)	($159)	($91)

Benefit_Plans_Details_Textuals

Benefit Plans (Details Textuals) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Pension Plans, Defined Benefit [Member]
Benefit Plans (Textuals) [Abstract]
Contribution to benefit plan	$6,129
Expected contribution to benefit plans for remainder of fiscal year	200
Retiree Health Care Benefits [Member]
Benefit Plans (Textuals) [Abstract]
Contribution to benefit plan	120
Expected contribution to benefit plans for remainder of fiscal year	$40

Segment_and_Geographic_Informa2

Segment and Geographic Information (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014
Segment financial information
Net sales	$679,994	$618,006	$2,074,021	$1,805,260
Operating income for reportable segments	43,772	40,173	136,744	119,549
Assets used in business	1,466,153	1,096,651	1,466,153	1,096,651	1,334,169
Depreciation and amortization of property	4,461	3,327	12,792	10,119
Capital expenditures	3,203	2,366	11,009	6,492
Operating Segments [Member]
Segment financial information
Operating income for reportable segments	45,539	42,196	142,811	115,958
Service Center Based Distribution [Member]
Segment financial information
Net sales	557,088	492,678	1,701,722	1,450,705
Operating income for reportable segments	33,788	28,754	105,903	82,695
Assets used in business	1,256,266	879,349	1,256,266	879,349
Depreciation and amortization of property	4,129	2,964	11,741	8,951
Capital expenditures	2,801	2,021	9,875	5,755
Fluid Power Businesses [Member]
Segment financial information
Net sales	122,906	125,328	372,299	354,555
Operating income for reportable segments	11,751	13,442	36,908	33,263
Assets used in business	209,887	217,302	209,887	217,302
Depreciation and amortization of property	332	363	1,051	1,168
Capital expenditures	$402	$345	$1,134	$737

Segment_and_Geographic_Informa3

Segment and Geographic Information (Details 1) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	$43,772	$40,173	$136,744	$119,549
Adjustment for:
Intangible amortization			19,412	9,518
Corporate and other (income) expense, net	-4,586	-1,165	-13,345	-13,109
Interest (Income) Expense, net	2,121	-11	5,738	-102
Other (Income) Expense, net	-887	-388	-263	-1,749
Income before income taxes	42,538	40,572	131,269	121,400
Operating Segments [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	45,539	42,196	142,811	115,958
Service Center Based Distribution [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	33,788	28,754	105,903	82,695
Adjustment for:
Intangible amortization	4,811	1,102	14,696	4,484
Fluid Power Businesses [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	11,751	13,442	36,908	33,263
Adjustment for:
Intangible amortization	$1,542	$2,086	$4,716	$5,034

Segment_and_Geographic_Informa4

Segment and Geographic Information (Details 2) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Net sales are presented in geographic areas
Net Sales	$679,994	$618,006	$2,074,021	$1,805,260
United States
Net sales are presented in geographic areas
Net Sales	562,563	519,713	1,673,927	1,500,252
Canada
Net sales are presented in geographic areas
Net Sales	79,957	64,922	282,661	202,439
Other countries
Net sales are presented in geographic areas
Net Sales	$37,474	$33,371	$117,433	$102,569

Segment_and_Geographic_Informa5

Segment and Geographic Information (Details Textuals) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Segment and Geographic Information (Textuals) [Abstract]
Sales primarily from businesses segment	$6,124	$5,369	$17,760	$16,564

Other_Income_Expense_Net_Detai

Other (Income) Expense, Net (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Other Income and Expenses [Abstract]
Unrealized (gain) loss on assets held in rabbi trust for a nonqualified deferred compensation plan	($245)	($110)	($418)	($1,355)
Elimination of one-month Canadian and Mexican reporting lags, effective July 1, 2013 and January 1, 2014, respectively		-175		-1,342
Foreign currency transactions (gain) loss	-474	46	153	953
Other, net	-168	-149	2	-5
Total other (income) expense, net	($887)	($388)	($263)	($1,749)