Applied Industrial (AIT) 10-Q 29 Jan 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2019	Jan. 17, 2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	1-2299
Entity Registrant Name	APPLIED INDUSTRIAL TECHNOLOGIES, INC.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-0117420
Entity Address, Address Line One	One Applied Plaza
Entity Address, City or Town	Cleveland
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44115
City Area Code	216
Local Phone Number	426-4000
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	AIT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,678,553
Document and Entity Information [Abstract]
Entity Central Index Key	0000109563
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Statements of Consoli

Condensed Statements of Consolidated Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 833,375	$ 840,038	$ 1,689,779	$ 1,704,553
Cost of sales	592,141	597,178	1,197,085	1,209,840
Gross profit	241,234	242,860	492,694	494,713
Selling, distribution and administrative expense, including depreciation	182,489	181,895	372,783	367,409
Operating income	58,745	60,965	119,911	127,304
Interest expense, net	9,583	9,578	19,642	20,054
Other (income) expense, net	(215)	946	(215)	707
Income before income taxes	49,377	50,441	100,484	106,543
Income tax expense	11,346	11,724	23,654	18,888
Net income	$ 38,031	$ 38,717	$ 76,830	$ 87,655
Net income per share - basic	$ 0.98	$ 1	$ 1.99	$ 2.26
Net income per share - diluted	$ 0.97	$ 0.99	$ 1.97	$ 2.23
Weighted average common shares outstanding for basic computation	38,649	38,743	38,630	38,729
Dilutive effect of potential common shares	398	504	370	587
Weighted average common shares outstanding for diluted computation	39,047	39,247	39,000	39,316

Condensed Statements of Conso_2

Condensed Statements of Consolidated Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net income per the condensed statements of consolidated income	$ 38,031	$ 38,717	$ 76,830	$ 87,655
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	5,445	(10,270)	1,411	(4,556)
Post-employment benefits:
Reclassification of net actuarial gains and prior service cost into other (income) expense, net and included in net periodic pension costs	(16)	(78)	(33)	(153)
Cumulative effect of adopting accounting standard	0	0	0	(50)
Unrealized gain (loss) on cash flow hedge	1,822	0	(358)	0
Reclassification of interest from cash flow hedge into interest expense	906	0	1,333	0
Total other comprehensive income (loss), before tax	8,157	(10,348)	2,353	(4,759)
Income tax expense (benefit) related to items of other comprehensive income (loss)	584	(592)	27	(350)
Other comprehensive income (loss), net of tax	7,573	(9,756)	2,326	(4,409)
Comprehensive income, net of tax	$ 45,604	$ 28,961	$ 79,156	$ 83,246

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Current assets
Cash and cash equivalents	$ 128,149	$ 108,219
Accounts receivable, net	502,894	540,902
Inventories	463,609	447,555
Other current assets	47,903	51,462
Total current assets	1,142,555	1,148,138
Property, less accumulated depreciation of $188,970 and $181,066	126,248	124,303
Operating lease assets, net	85,418	0
Identifiable intangibles, net	364,519	368,866
Goodwill	673,175	661,991
Other assets	27,082	28,399
TOTAL ASSETS	2,418,997	2,331,697
Current liabilities
Accounts payable	212,312	237,289
Current portion of long-term debt	73,771	49,036
Compensation and related benefits	56,772	67,978
Other current liabilities	77,846	69,491
Total current liabilities	420,701	423,794
Long-term debt	874,423	908,850
Other liabilities	161,632	102,019
TOTAL LIABILITIES	1,456,756	1,434,663
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; 38,678 and 38,597 outstanding, respectively	10,000	10,000
Additional paid-in capital	173,677	172,931
Retained earnings	1,290,685	1,229,148
Treasury shares—at cost (15,535 and 15,616 shares, respectively)	(414,561)	(415,159)
Accumulated other comprehensive loss	(97,560)	(99,886)
TOTAL SHAREHOLDERS’ EQUITY	962,241	897,034
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,418,997	$ 2,331,697

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Noncurrent Assets:
Property, less accumulated depreciation	$ 188,970	$ 181,066
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
Common stock, shares outstanding	38,678,000	38,597,000
Treasury shares	15,535,000	15,616,000

Condensed Statements of Conso_3

Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net income	$ 76,830	$ 87,655
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	10,617	10,019
Amortization of intangibles	20,569	21,912
Unrealized foreign exchange transactions loss (gain)	(272)	155
Amortization of stock options and appreciation rights	1,494	1,257
Gain on sale of property	165	105
Other share-based compensation expense	1,837	2,351
Changes in operating assets and liabilities, net of acquisitions	(11,660)	(55,922)
Other, net	5,105	(1,432)
Net Cash provided by Operating Activities	104,899	65,580
Cash Flows from Investing Activities
Acquisition of businesses, net of cash acquired	(36,390)	(6,900)
Property purchases	(11,965)	(7,096)
Proceeds from property sales	325	244
Other	0	(391)
Net Cash used in Investing Activities	(48,030)	(13,361)
Cash Flows from Financing Activities
Net repayments under revolving credit facility	0	(19,500)
Long-term debt borrowings	25,000	175,000
Long-term debt repayments	34,868	151,868
Payment of debt issuance costs	(16)	(685)
Dividends paid	(24,002)	(23,275)
Acquisition holdback payments	777	2,275
Exercise of stock options and appreciation rights	330	0
Taxes paid for shares withheld for equity awards	(1,988)	(3,318)
Net Cash used in Financing Activities	(36,321)	(25,921)
Effect of Exchange Rate Changes on Cash	(618)	(621)
Increase in Cash and Cash Equivalents	19,930	25,677
Cash and Cash Equivalents at Beginning of Period	108,219	54,150
Cash and Cash Equivalents at End of Period	$ 128,149	$ 79,827

Condensed Statements of Shareho

Condensed Statements of Shareholder's Equity Condensed Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Common Stock [Member]Stock Options and Stock Appreciation Rights [ Member]	Common Stock [Member]Performance Shares [Member]	Common Stock [Member]Restricted Stock Units (RSUs) [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Stock Options and Stock Appreciation Rights [ Member]	Additional Paid-in Capital [Member]Performance Shares [Member]	Additional Paid-in Capital [Member]Restricted Stock Units (RSUs) [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Treasury Stock [Member]Stock Options and Stock Appreciation Rights [ Member]	Treasury Stock [Member]Performance Shares [Member]	Treasury Stock [Member]Restricted Stock Units (RSUs) [Member]	Total Accumulated Other Comprehensive Income (Loss) [Member]	Parent [Member]	Parent [Member]Stock Options and Stock Appreciation Rights [ Member]	Parent [Member]Performance Shares [Member]	Parent [Member]Restricted Stock Units (RSUs) [Member]
Beginning balance, shares at Jun. 30, 2018		38,703
Beginning balance at Jun. 30, 2018		$ 10,000				$ 169,383				$ 1,129,678	$ (403,875)				$ (90,223)	$ 814,963
Net income	$ 48,938															48,938
Other comprehensive income (loss), net of tax															5,347	5,347
Cumulative effect of adopting accounting standards | Adjustments for New Accounting Pronouncement [Member]										3,056						3,056
Cash dividends										(13)						(13)
Exercise of stock appreciation rights and options, shares			17
Performance share awards, shares				18
Restricted stock units, shares					16
Additional Paid in Capital, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units							$ (855)	$ (844)	$ (760)
Exercise of stock appreciation rights and options												$ (210)
Performance share awards													$ (301)
Restricted stock units														$ (198)
Total Shareholders' Equity, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units																	$ (1,065)	$ (1,145)	$ (958)
Compensation expense						1,043	651									1,043	651
Other										24	(35)					(11)
Ending balance, shares at Sep. 30, 2018		38,754
Ending balance at Sep. 30, 2018		$ 10,000				168,618				1,181,683	(404,619)				(84,876)	870,806
Beginning balance, shares at Jun. 30, 2018		38,703
Beginning balance at Jun. 30, 2018		$ 10,000				169,383				1,129,678	(403,875)				(90,223)	814,963
Net income	87,655
Other comprehensive income (loss), net of tax	(4,409)														(4,409)
Ending balance, shares at Dec. 31, 2018		38,757
Ending balance at Dec. 31, 2018		$ 10,000				170,385				1,208,748	(404,586)				(94,632)	889,915
Beginning balance, shares at Sep. 30, 2018		38,754
Beginning balance at Sep. 30, 2018		$ 10,000				168,618				1,181,683	(404,619)				(84,876)	870,806
Net income	38,717															38,717
Other comprehensive income (loss), net of tax	$ (9,756)														(9,756)	(9,756)
Cash dividends										(11,651)						(11,651)
Restricted stock units, shares					3
Additional Paid in Capital, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units							(7)		(140)
Exercise of stock appreciation rights and options												1
Restricted stock units														31
Total Shareholders' Equity, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units																	(6)		(109)
Compensation expense						1,308	606									1,308	606
Other										(1)	1
Ending balance, shares at Dec. 31, 2018		38,757
Ending balance at Dec. 31, 2018		$ 10,000				170,385				1,208,748	(404,586)				(94,632)	889,915
Beginning balance, shares at Jun. 30, 2019	38,597	38,597
Beginning balance at Jun. 30, 2019	$ 897,034	$ 10,000				172,931				1,229,148	(415,159)				(99,886)	897,034
Net income	$ 38,799															38,799
Other comprehensive income (loss), net of tax															(5,247)	(5,247)
Cumulative effect of adopting accounting standards | Adjustments for New Accounting Pronouncement [Member]										(3,275)						(3,275)
Cash dividends										(20)						(20)
Exercise of stock appreciation rights and options, shares			5
Performance share awards, shares				36
Restricted stock units, shares					16
Additional Paid in Capital, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units							(177)	$ (1,540)	$ (631)
Exercise of stock appreciation rights and options												61
Performance share awards													$ 362
Restricted stock units														$ 200
Total Shareholders' Equity, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units																	(116)	$ (1,178)	$ (431)
Compensation expense						919	773									919	773
Stockholders' Equity, Other Shares		2
Other						(52)				(4)	23					(33)
Ending balance, shares at Sep. 30, 2019		38,656
Ending balance at Sep. 30, 2019		$ 10,000				172,223				1,264,648	(414,513)				(105,133)	927,225
Beginning balance, shares at Jun. 30, 2019	38,597	38,597
Beginning balance at Jun. 30, 2019	$ 897,034	$ 10,000				172,931				1,229,148	(415,159)				(99,886)	897,034
Net income	76,830
Other comprehensive income (loss), net of tax	$ 2,326														2,326
Ending balance, shares at Dec. 31, 2019	38,678	38,678
Ending balance at Dec. 31, 2019	$ 962,241	$ 10,000				173,677				1,290,685	(414,561)				(97,560)	962,241
Beginning balance, shares at Sep. 30, 2019		38,656
Beginning balance at Sep. 30, 2019		$ 10,000				172,223				1,264,648	(414,513)				(105,133)	927,225
Net income	38,031															38,031
Other comprehensive income (loss), net of tax	$ 7,573														7,573	7,573
Cash dividends										(12,017)						(12,017)
Exercise of stock appreciation rights and options, shares			22
Additional Paid in Capital, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units							(185)
Exercise of stock appreciation rights and options												$ (47)
Total Shareholders' Equity, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units																	(232)
Compensation expense						918	$ 721									918	$ 721
Other										23	(1)					22
Ending balance, shares at Dec. 31, 2019	38,678	38,678
Ending balance at Dec. 31, 2019	$ 962,241	$ 10,000				$ 173,677				$ 1,290,685	$ (414,561)				$ (97,560)	$ 962,241

Condensed Statements of Share_2

Condensed Statements of Shareholder's Equity Condensed Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Dividends per Common Share	$ 0.31	$ 0.30

Basis of Presentation

Basis of Presentation	6 Months Ended
	Dec. 31, 2019
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 December 31, 2019 , and the results of its operations and its cash flows for the six month periods ended December 31, 2019 and 2018 , have been included. The condensed consolidated balance sheet as of June 30, 2019 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, 2019 . Operating results for the six month period ended December 31, 2019 are not necessarily indicative of the results that may be expected for the remainder of the fiscal year ending June 30, 2020 . Inventory The Company uses the 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. Recently Adopted Accounting Guidance Leases In February 2016, the FASB issued its final standard on accounting for leases. This standard, issued as ASU 2016-02, requires that an entity that is a lessee recognize lease assets and lease liabilities on the balance sheet for all leases and disclose key information about leasing arrangements. This update is effective for annual financial statement periods beginning after December 15, 2018, with earlier application permitted. In July 2018, the FASB issued ASU 2018-10 which clarifies the guidance in ASU 2016-02 and ASU 2018-11 which provides entities with an additional transition method option for adopting the new standard. In December 2018 and January 2019, the FASB issued ASU 2018-20 and ASU 2019-01, respectively, which further clarify the guidance. The Company adopted the new guidance effective July 1, 2019 using the optional transition method, which required application of the new guidance to only those leases that existed at the date of adoption. The Company elected the “package of practical expedients,” which permitted the Company to not reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. Adoption of the new standard resulted in the recognition of right-of-use (ROU) assets and lease liabilities of $83,533 and $89,778 , respectively, on July 1, 2019. The difference between the ROU assets and lease liabilities related primarily to the impairment of certain leases in Canada and the United States. In addition, the adoption resulted in an adjustment to opening retained earnings of approximately $3,275 , net of tax, on July 1, 2019 primarily due to the impairment of the leases. The standard did not have a material impact on the Company’s condensed statements of consolidated income or cash flows. Cash Flows In August 2016, the FASB issued its final standard on the classification of certain cash receipts and cash payments within the statement of cash flows. This standard, issued as ASU 2016-15, makes a number of changes meant to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. This update is effective for annual and interim financial statement periods beginning after December 15, 2018, with early adoption permitted. The Company adopted the new guidance in the first quarter of fiscal 2020. The adoption of this guidance did not have a material impact on the Company's financial statements or related disclosures. Recently Issued Accounting Guidance In June 2016, the FASB issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, requires that an entity measure impairment of certain financial instruments, including trade receivables, based on expected losses rather than incurred losses. This update is effective for annual and interim financial statement periods beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. In November 2018, April 2019, May 2019, and November 2019 the FASB issued ASU 2018-19, ASU 2019-04, ASU 2019-05 and ASU 2019-11, respectively, which clarify the guidance in ASU 2016-13. The Company has not yet determined the impact of these pronouncements on its financial statements and related disclosures. In December 2019, the FASB issued its final standard on simplifying the accounting for income taxes. This standard, issued as 2019-12, makes a number of changes meant to add or clarify guidance on accounting for income taxes. This update is effective for annual and interim financial statement periods beginning after December 15, 2021, with early adoption permitted in any interim period for which financial statements have not yet been filed. The Company has not yet determined the impact of these pronouncements on its financial statements and related disclosures.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition	6 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUE RECOGNITION Disaggregation of Revenues The following tables present the Company's net sales by reportable segment and by geographic areas based on the location of the facility shipping the product for the three and six months ended December 31, 2019 and 2018 . Other countries consist of Mexico, Australia, New Zealand, and Singapore. Three Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Geographic Areas: United States $ 467,191 $ 253,149 $ 720,340 $ 479,335 $ 247,862 $ 727,197 Canada 67,897 — 67,897 68,569 — 68,569 Other countries 40,700 4,438 45,138 41,394 2,878 44,272 Total $ 575,788 $ 257,587 $ 833,375 $ 589,298 $ 250,740 $ 840,038 Six Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Geographic Areas: United States $ 960,064 $ 503,262 $ 1,463,326 $ 970,109 $ 504,511 $ 1,474,620 Canada 133,843 — 133,843 137,676 — 137,676 Other countries 85,041 7,569 92,610 85,562 6,695 92,257 Total $ 1,178,948 $ 510,831 $ 1,689,779 $ 1,193,347 $ 511,206 $ 1,704,553 The following tables present the Company’s percentage of revenue by reportable segment and major customer industry for the three and six months ended December 31, 2019 and 2018 : Three Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total General Industry 34.4 % 41.0 % 36.4 % 35.9 % 46.1 % 38.9 % Industrial Machinery 9.1 % 24.2 % 13.8 % 9.7 % 20.3 % 12.9 % Metals 10.7 % 7.6 % 9.8 % 13.6 % 8.5 % 12.1 % Food 12.0 % 3.0 % 9.2 % 10.1 % 2.7 % 7.8 % Oil & Gas 8.1 % 1.8 % 6.1 % 10.2 % 2.1 % 7.8 % Chem/Petrochem 3.6 % 14.4 % 6.9 % 2.9 % 14.0 % 6.2 % Forest Products 9.5 % 2.9 % 7.5 % 7.1 % 2.9 % 5.9 % Cement & Aggregate 7.8 % 1.0 % 5.7 % 6.0 % 0.9 % 4.5 % Transportation 4.8 % 4.1 % 4.6 % 4.5 % 2.5 % 3.9 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Six Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total General Industry 34.6 % 42.4 % 37.0 % 35.8 % 44.9 % 38.4 % Industrial Machinery 9.7 % 23.2 % 13.8 % 9.5 % 20.8 % 12.9 % Metals 11.5 % 7.9 % 10.4 % 12.3 % 8.2 % 11.1 % Food 11.5 % 2.8 % 8.9 % 10.4 % 2.6 % 8.1 % Oil & Gas 8.7 % 1.9 % 6.6 % 9.9 % 2.1 % 7.6 % Chem/Petrochem 3.2 % 13.5 % 6.3 % 3.2 % 14.8 % 6.7 % Forest Products 8.6 % 3.0 % 6.9 % 8.0 % 2.8 % 6.4 % Cement & Aggregate 7.3 % 1.0 % 5.4 % 6.4 % 1.0 % 4.8 % Transportation 4.9 % 4.3 % 4.7 % 4.5 % 2.8 % 4.0 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % The following tables present the Company’s percentage of revenue by reportable segment and product line for the three and six months ended December 31, 2019 and 2018 : Three Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Power Transmission 35.4 % 11.8 % 28.1 % 34.3 % 1.3 % 24.4 % General Maintenance; Hose Products 25.0 % 13.3 % 21.4 % 25.4 % 5.8 % 19.6 % Fluid Power 13.4 % 35.8 % 20.3 % 13.7 % 38.1 % 21.0 % Bearings, Linear & Seals 26.2 % 0.4 % 18.2 % 26.6 % 0.4 % 18.8 % Specialty Flow Control — % 38.7 % 12.0 % — % 54.4 % 16.2 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Six Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Power Transmission 34.9 % 10.5 % 27.6 % 33.5 % 1.4 % 23.9 % General Maintenance; Hose Products 25.7 % 10.7 % 21.0 % 26.6 % 5.2 % 20.2 % Fluid Power 13.4 % 37.5 % 20.7 % 13.8 % 37.9 % 21.0 % Bearings, Linear & Seals 26.0 % 0.3 % 18.3 % 26.1 % 0.2 % 18.3 % Specialty Flow Control — % 41.0 % 12.4 % — % 55.3 % 16.6 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Contract Assets The Company’s contract assets consist of un-billed amounts resulting from contracts for which revenue is recognized over time using the cost-to-cost method, and for which revenue recognized exceeds the amount billed to the customer. Activity related to contract assets, which are included in other current assets on the condensed consolidated balance sheet, is as follows: December 31, 2019 June 30, 2019 $ Change % Change Contract assets $ 7,038 $ 8,920 $ (1,882 ) (21.1 )% The difference between the opening and closing balances of the Company's contract assets primarily results from the timing difference between the Company's performance and when the customer is billed.

Business Combinations

Business Combinations	6 Months Ended
	Dec. 31, 2019
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 2020 Acquisition On August 21, 2019, the Company acquired 100% of the outstanding shares of Olympus Controls, a Portland, Oregon automation solutions provider - including design, assembly, integration, and distribution - of motion control, machine vision, and robotic technologies. Olympus Controls is included in the Fluid Power & Flow Control segment. The purchase price for the acquisition was $35,795 , net tangible assets acquired were $9,540 , and intangible assets including goodwill was $26,255 based upon preliminary estimated fair values at the acquisition date, which are subject to adjustment. The Company funded this acquisition using available cash. The acquisition price and the results of operations for the acquired entity are not material in relation to the Company's consolidated financial statements. Fiscal 2019 Acquisitions On March 4, 2019, the Company acquired substantially all of the net assets of MilRoc Distribution (MilRoc) and Woodward Steel (Woodward). MilRoc is an Oklahoma based distributor of oilfield specific products, namely pumps and valves, as well as equipment repair services and industrial parts to the oil & gas industry. Woodward is an Oklahoma based steel supplier to the oil & gas and agriculture industries. MilRoc and Woodward are both included in the Service Center Based Distribution segment. The purchase price for the acquisition was $35,000 , net tangible assets acquired were $17,788 , and intangible assets including goodwill was $17,212 based upon preliminary estimated fair values at the acquisition date, which are subject to adjustment. The purchase price includes acquisition holdback payments of $4,375 , which are included in other current liabilities and other liabilities on the condensed consolidated balance sheet as of December 31, 2019 , and which will be paid on the first, second, and third anniversaries of the acquisition date with interest at a fixed rate of 2.0% per annum. The Company funded this acquisition using available cash. The acquisition price and the results of operations for the acquired entity are not material in relation to the Company's consolidated financial statements. On November 2, 2018, the Company acquired substantially all of the net assets of Fluid Power Sales, Inc. (FPS), a Baldwinsville, New York based manufacturer and distributor of fluid power components, specializing in the engineering and fabrication of manifolds and power units. FPS is included in the Fluid Power & Flow Control segment. The purchase price for the acquisition was $8,066 , net tangible assets acquired were $4,151 , and goodwill was $3,915 based upon estimated fair values at the acquisition date. The purchase price includes $1,200 of acquisition holdback payments, of which $600 was paid during the three months ended December 31, 2019 . The remaining balance of $600 is included in other current liabilities on the condensed consolidated balance sheet as of December 31, 2019 , and will be paid on the second anniversary of the acquisition date with interest at a fixed rate of 1.5% per annum. The Company funded this acquisition using available cash. The acquisition price and the results of operations for the acquired entity are not material in relation to the Company's consolidated financial statements.

Goodwill and Intangibles

Goodwill and Intangibles	6 Months Ended
	Dec. 31, 2019
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 & Flow Control segment for the fiscal year ended June 30, 2019 and the six month period ended December 31, 2019 are as follows: Service Center Based Distribution Fluid Power & Flow Control Total Balance at July 1, 2018 $ 203,084 $ 443,559 $ 646,643 Goodwill acquired during the period 9,943 4,798 14,741 Other, primarily currency translation 607 — 607 Balance at June 30, 2019 $ 213,634 $ 448,357 $ 661,991 Goodwill adjusted/acquired during the period (3,393 ) 13,819 10,426 Other, primarily currency translation 758 — 758 Balance at December 31, 2019 $ 210,999 $ 462,176 $ 673,175 During the first quarter of fiscal 2020, the Company recorded an adjustment to the preliminary estimated fair value of intangible assets related to the MilRoc/Woodward acquisition. The fair values of the customer relationships, trade name, and non-compete intangible assets were increased by $1,524 , $1,809 , and $60 , respectively, with a corresponding total decrease to goodwill of $3,393 . The changes to the preliminary estimated fair values resulted in an increase to amortization expense of $303 during the six months ended December 31, 2019 , which is recorded in selling, distribution, and administrative expense on the condensed statements of consolidated income. During the second quarter of fiscal 2020, the Company recorded an adjustment to the preliminary estimated fair value of intangible assets related to the Olympus Controls acquisition. The trade name and other intangible assets were increased by $4,260 and $980 , respectively, with a corresponding decrease to the customer relationship intangible asset of $5,504 and an increase to goodwill of $264 . The changes to the preliminary estimated fair values resulted in a decrease to amortization expense of $24 during the six months ended December 31, 2019 , which is recorded in selling, distribution, and administrative expense on the condensed statements of consolidated income. The Company has seven ( 7 ) reporting units for which an annual goodwill impairment assessment was performed as of January 1, 2019. The Company concluded that all of the reporting units’ fair value exceeded their carrying amounts by at least 20% as of January 1, 2019. Specifically, the Canada reporting unit's fair value exceeded its carrying value by 25% , and the reporting unit comprised of the FCX Performance Inc. (FCX) operations' fair value exceeded its carrying value by 20% . The Canada and FCX reporting units have goodwill balances of $28,438 and $440,012 , respectively, as of December 31, 2019 . The fair values of the reporting units in accordance with the goodwill impairment test were determined using the income and market approaches. The income approach employs the discounted cash flow method reflecting projected cash flows expected to be generated by market participants and then adjusted for time value of money factors, and requires management to make significant estimates and assumptions related to forecasts of future revenues, operating margins, and discount rates. The market approach utilizes an analysis of comparable publicly traded companies and requires management to make significant estimates and assumptions related to the forecasts of future revenues, earnings before interest, taxes, depreciation, and amortization (EBITDA) and multiples that are applied to management’s forecasted revenues and EBITDA estimates. Changes in future results, assumptions, and estimates after the measurement date may lead to an outcome where additional 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. Further, continued adverse market conditions could result in the recognition of impairment if the Company determines that the fair values of its reporting units have fallen below their carrying values. Certain events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately impact the estimated fair value of the Company’s reporting units may include such items as: (i) a decrease in expected future cash flows, specifically, a decrease in sales volume driven by a prolonged weakness in customer demand or other pressures adversely affecting our long-term sales trends; (ii) inability to achieve the sales from our strategic growth initiatives. At December 31, 2019 and June 30, 2019 , accumulated goodwill impairment losses subsequent to fiscal year 2002 totaled $64,794 related to the Service Center Based Distribution segment and $36,605 related to the Fluid Power & Flow Control segment. The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following: December 31, 2019 Amount Accumulated Amortization Net Book Value Finite-Lived Identifiable Intangibles: Customer relationships $ 430,253 $ 150,649 $ 279,604 Trade names 111,911 31,113 80,798 Vendor relationships 11,368 8,561 2,807 Other 2,035 725 1,310 Total Identifiable Intangibles $ 555,567 $ 191,048 $ 364,519 June 30, 2019 Amount Accumulated Amortization Net Book Value Finite-Lived Identifiable Intangibles: Customer relationships $ 422,367 $ 135,879 $ 286,488 Trade names 105,946 27,232 78,714 Vendor relationships 11,367 8,156 3,211 Other 2,702 2,249 453 Total Identifiable Intangibles $ 542,382 $ 173,516 $ 368,866 Amounts include the impact of foreign currency translation. Fully amortized amounts are written off. During the six month period ended December 31, 2019 , 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 $ 7,160 20.0 Trade names 4,260 15.0 Other 980 6.8 Total Intangibles Acquired $ 12,400 17.2 Estimated future amortization expense by fiscal year (based on the Company’s identifiable intangible assets as of December 31, 2019 ) for the next five years is as follows: $20,100 for the remainder of 2020 , $38,500 for 2021 , $36,400 for 2022 , $34,200 for 2023 , $29,900 for 2024 and $26,400 for 2025 .

Debt Debt

Debt Debt	6 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	DEBT Revolving Credit Facility & Term Loan In January 2018, the Company refinanced its existing credit facility and entered into a new five-year credit facility with a group of banks expiring in January 2023 . This agreement provides for a $780,000 unsecured term loan and a $250,000 unsecured revolving credit facility. Fees on this facility range from 0.10% to 0.20% 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 or prime at the Company's discretion. At December 31, 2019 and June 30, 2019 , the Company had $603,875 and $613,625 , respectively, outstanding under the term loan. The interest rate on the term loan as of December 31, 2019 and June 30, 2019 was 3.56% and 4.19% , respectively. The Company had no amount outstanding under the revolver at December 31, 2019 or June 30, 2019 . Unused lines under this facility, net of outstanding letters of credit of $1,776 and $3,215 , respectively, to secure certain insurance obligations, totaled $248,224 and $246,785 at December 31, 2019 and June 30, 2019 , respectively, and were available to fund future acquisitions or other capital and operating requirements. Additionally, the Company had letters of credit outstanding with a separate bank, not associated with the revolving credit agreement, in the amount of $3,788 and $2,698 as of December 31, 2019 and June 30, 2019 , respectively, in order to secure certain insurance obligations. Trade Receivable Securitization Facility In August 2018, the Company established a trade receivable securitization facility (the “AR Securitization Facility”) with a termination date of August 31, 2021 . The maximum availability under the AR Securitization Facility is $175,000 . Availability is further subject to changes in the credit ratings of our customers, customer concentration levels or certain characteristics of the accounts receivable being transferred and, therefore, at certain times, we may not be able to fully access the $175,000 of funding available under the AR Securitization Facility. The AR Securitization Facility effectively increases the Company’s borrowing capacity by collateralizing a portion of the amount of the Service Center Based Distribution reportable segment’s U.S. operations’ trade accounts receivable. The Company uses the proceeds from the AR Securitization Facility as an alternative to other forms of debt, effectively reducing borrowing costs. Borrowings under this facility carry variable interest rates tied to LIBOR and fees on the AR Securitization Facility are 0.90% per year. As of December 31, 2019 , and June 30, 2019 , the Company borrowed $175,000 under the AR Securitization Facility. The interest rate on the AR Securitization Facility as of December 31, 2019 and June 30, 2019 was 2.61% and 3.33% , respectively. Other Long-Term Borrowings At December 31, 2019 and June 30, 2019 , the Company had borrowings outstanding under its unsecured shelf facility agreement with Prudential Investment Management of $170,000 . Fees on this facility range from 0.25% to 1.25% per year based on the Company's leverage ratio at each quarter end. The "Series C" notes have a principal amount of $120,000 , carry a fixed interest rate of 3.19% , and are due in equal principal payments in July 2020, 2021, and 2022. The "Series D" notes have a principal amount of $50,000 and carry a fixed interest rate of 3.21% . A $25,000 principal payment was made on the "Series D" notes in October 2019, and the remaining principal is due in October 2023. On October 30, 2019, the Company amended its unsecured shelf facility agreement with Prudential Investment Management to authorize the issuance of “Series E” notes, which have a principal amount of $25,000 , carry a fixed interest rate of 3.08% , and are due October 30, 2024. In 2014, the Company assumed $2,359 of debt as a part of the headquarters facility acquisition. The 1.50% fixed interest rate note is held by the State of Ohio Development Services Agency, maturing in May 2024. At December 31, 2019 and June 30, 2019 , $1,086 and $1,204 was outstanding, respectively. Unamortized debt issue costs of $593 and $577 are included as a reduction of current portion of long-term debt on the condensed consolidated balance sheets as of December 31, 2019 and June 30, 2019 , respectively. Unamortized debt issue costs of $1,174 and $1,366 are included as a reduction of long-term debt on the condensed consolidated balance sheets as of December 31, 2019 and June 30, 2019 , respectively.

Derivatives Derivatives

Derivatives Derivatives	6 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	DERIVATIVES Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s borrowings. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive loss and subsequently reclassified into interest expense in the same period(s) during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive loss related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. In January 2019, the Company entered into an interest rate swap to mitigate variability in forecasted interest payments on $463,000 of the Company’s U.S. dollar-denominated unsecured variable rate debt. The interest rate swap effectively converts a portion of the floating rate interest payment into a fixed rate interest payment. The Company designated the interest rate swap as a pay-fixed, receive-floating interest rate swap instrument and is accounting for this derivative as a cash flow hedge. The interest rate swap converts $431,000 of variable rate debt to a rate of 4.36% as of December 31, 2019 , and as of June 30, 2019 converted $463,000 of variable rate debt to a rate of 4.36% . The fair value (Level 2 in the fair value hierarchy) of the interest rate cash flow hedge was $13,228 and $14,202 as of December 31, 2019 and June 30, 2019 , respectively, which is included in other current liabilities and other liabilities in the condensed consolidated balance sheet, respectively. Realized losses related to the interest rate cash flow hedge were not material during the six months ended December 31, 2019 .

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Marketable securities measured at fair value at December 31, 2019 and June 30, 2019 totaled $12,301 and $11,246 , respectively. The majority of 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 were determined using quoted market prices (Level 1 in the fair value hierarchy). As of December 31, 2019 and June 30, 2019 , the carrying values of the Company's fixed interest rate debt outstanding under its unsecured shelf facility agreement with Prudential Investment Management approximated fair value (Level 2 in the fair value hierarchy). The revolving credit facility, the term loan and the AR Securitization Facility contain variable interest rates and their carrying values approximate fair value (Level 2 in the fair value hierarchy).

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY Accumulated Other Comprehensive Loss Changes in the accumulated other comprehensive loss are comprised of the following amounts, shown net of taxes: Three Months Ended December 31, 2019 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at October 1, 2019 $ (90,243 ) $ (2,865 ) $ (12,025 ) $ (105,133 ) Other comprehensive income 5,556 — 1,343 6,899 Amounts reclassified from accumulated other comprehensive (loss) income — (12 ) 686 674 Net current-period other comprehensive income (loss) 5,556 (12 ) 2,029 7,573 Balance at December 31, 2019 $ (84,687 ) $ (2,877 ) $ (9,996 ) $ (97,560 ) Three Months Ended December 31, 2018 Foreign currency translation adjustment Unrealized gain on securities available for sale Post-employment benefits Total Accumulated other comprehensive (loss) income Balance at October 1, 2018 $ (82,521 ) $ — $ (2,355 ) $ (84,876 ) Other comprehensive loss (9,699 ) — — (9,699 ) Amounts reclassified from accumulated other comprehensive (loss) income — — (57 ) (57 ) Net current-period other comprehensive loss (9,699 ) — (57 ) (9,756 ) Balance at December 31, 2018 $ (92,220 ) $ — $ (2,412 ) $ (94,632 ) Six Months Ended December 31, 2019 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at July 1, 2019 $ (86,330 ) $ (2,852 ) $ (10,704 ) $ (99,886 ) Other comprehensive income (loss) 1,643 — (300 ) 1,343 Amounts reclassified from accumulated other comprehensive (loss) income — (25 ) 1,008 983 Net current-period other comprehensive income (loss) 1,643 (25 ) 708 2,326 Balance at December 31, 2019 $ (84,687 ) $ (2,877 ) $ (9,996 ) $ (97,560 ) Six Months Ended December 31, 2018 Foreign currency translation adjustment Unrealized gain (loss) on securities available for sale Post-employment benefits Total Accumulated other comprehensive (loss) income Balance at July 1, 2018 $ (87,974 ) $ 50 $ (2,299 ) $ (90,223 ) Other comprehensive loss (4,246 ) — — (4,246 ) Amounts reclassified from accumulated other comprehensive (loss) income — — (113 ) (113 ) Cumulative effect of adopting accounting standard — (50 ) — (50 ) Net current-period other comprehensive loss (4,246 ) (50 ) (113 ) (4,409 ) Balance at December 31, 2018 $ (92,220 ) $ — $ (2,412 ) $ (94,632 ) Other Comprehensive (Loss) Income Details of other comprehensive (loss) income are as follows: Three Months Ended December 31, 2019 2018 Pre-Tax Amount Tax Expense (Benefit) Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ 5,445 $ (111 ) $ 5,556 $ (10,270 ) $ (571 ) $ (9,699 ) Post-employment benefits: Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs (16 ) (4 ) (12 ) (78 ) (21 ) (57 ) Unrealized loss on cash flow hedge 1,822 479 1,343 — — — Reclassification of interest from cash flow hedge into interest expense 906 220 686 — — — Other comprehensive income (loss) $ 8,157 $ 584 $ 7,573 $ (10,348 ) $ (592 ) $ (9,756 ) Six Months Ended December 31, 2019 2018 Pre-Tax Amount Tax Expense (Benefit) Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ 1,411 $ (232 ) $ 1,643 $ (4,556 ) $ (310 ) $ (4,246 ) Post-employment benefits: Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs (33 ) (8 ) (25 ) (153 ) (40 ) (113 ) Cumulative effect of adopting accounting standard — — — (50 ) — (50 ) Unrealized loss on cash flow hedge (358 ) (58 ) (300 ) — — — Reclassification of interest from cash flow hedge into interest expense 1,333 325 1,008 — — — Other comprehensive income (loss) $ 2,353 $ 27 $ 2,326 $ (4,759 ) $ (350 ) $ (4,409 ) Anti-dilutive Common Stock Equivalents In the three month periods ended December 31, 2019 and 2018 , respectively, stock options and stock appreciation rights related to 503 and 242 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 six month periods ended December 31, 2019 and 2018 , respectively, stock options and stock appreciation rights related to 722 and 242

Leases Leases

Leases Leases	6 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	LEASES The Company leases facilities for certain service centers, warehouses, distribution centers and office space. The Company also leases office equipment and vehicles. All leases are classified as operating. The Company’s leases expire at various dates through 2031, with terms ranging from 1 year to 15 years. Many of the Company’s real estate leases contain renewal provisions to extend lease terms up to 5 years. The exercise of renewal options is solely at the Company’s discretion. The Company’s lease agreements do not contain material variable lease payments, residual value guarantees or restrictive covenants. The Company does not recognize right-of-use assets or lease liabilities for short-term leases with initial terms of 12 months or less. Leased vehicles comprise the majority of the Company’s short-term leases. All other leases are recorded on the balance sheet with right-of-use assets representing the right to use the underlying asset for the lease term and lease liabilities representing lease payment obligations. The Company’s leases do not provide implicit rates; therefore the Company uses its incremental borrowing rate as the discount rate for measuring lease liabilities. Non-lease components are accounted for separately from lease components. The Company’s operating lease expense is recognized on a straight-line basis over the lease term and is recorded in selling, distribution and administrative expense on the condensed statements of consolidated income. Operating lease costs and short-term lease costs were $8,428 and $2,743 for the three months ended December 31, 2019 , respectively, and were $16,728 and $5,340 for the six months ended December 31, 2019 , respectively. Variable lease costs and sublease income were not material. Information related to operating leases is as follows: December 31, 2019 Operating lease assets, net $ 85,418 Operating lease liabilities Other current liabilities $ 28,209 Other liabilities 62,784 Total operating lease liabilities $ 90,993 December 31, 2019 Weighted average remaining lease term (years) 4.6 Weighted average incremental borrowing rate 3.40 % Three Months Ended December 31, 2019 Six Months Ended December 31, 2019 Cash paid for operating leases $ 8,731 $ 17,284 Right of use assets obtained in exchange for new operating lease liabilities $ 6,646 $ 18,445 The table below summarizes the aggregate maturities of liabilities pertaining to operating leases with terms greater than one year for each of the next five years: Fiscal Year Maturity of Operating Lease Liabilities 2020 $ 16,347 2021 26,066 2022 19,168 2023 12,987 2024 9,868 Thereafter 14,044 Total lease payments 98,480 Less interest (7,487 ) Present value of lease liabilities $ 90,993 The table below summarizes the future minimum annual rental commitments for operating leases accounted for in accordance with Accounting Standards Codification Topic 840, Leases, as of June 30, 2019 : Fiscal Year Operating Leases 2020 $ 33,707 2021 23,407 2022 16,420 2023 10,653 2024 7,838 Thereafter 12,135 Total minimum lease payments $ 104,160

Segment Information

Segment Information	6 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The accounting policies of the Company’s reportable segments are generally the same as those used to prepare the condensed consolidated financial statements. LIFO expense of $1,929 and $2,676 in the three months ended December 31, 2019 and 2018 , respectively, and $2,287 and $4,347 in the six months ended December 31, 2019 and 2018 , respectively, is recorded in cost of sales in the condensed statements of income, and is included in operating income for the Service Center Based Distribution segment. The Company allocates LIFO expense between the segments in the fourth quarter of its fiscal year. Intercompany sales, primarily from the Fluid Power & Flow Control segment to the Service Center Based Distribution segment, of $7,436 and $6,769 , in the three months ended December 31, 2019 and 2018 , respectively, and $14,749 and $13,685 in the six months ended December 31, 2019 and 2018 , respectively, have been eliminated in the Segment Financial Information tables below. Three Months Ended Service Center Based Distribution Fluid Power & Flow Control Total December 31, 2019 Net sales $ 575,788 $ 257,587 $ 833,375 Operating income for reportable segments 53,905 29,449 83,354 Depreciation and amortization of property 4,280 1,114 5,394 Capital expenditures 6,239 780 7,019 December 31, 2018 Net sales $ 589,298 $ 250,740 $ 840,038 Operating income for reportable segments 58,317 29,243 87,560 Depreciation and amortization of property 3,911 1,127 5,038 Capital expenditures 3,256 667 3,923 Six Months Ended Service Center Based Distribution Fluid Power & Flow Control Total December 31, 2019 Net sales $ 1,178,948 $ 510,831 $ 1,689,779 Operating income for reportable segments 114,265 56,306 170,571 Assets used in business 1,291,399 1,127,598 2,418,997 Depreciation and amortization of property 8,458 2,159 10,617 Capital expenditures 10,434 1,531 11,965 December 31, 2018 Net sales $ 1,193,347 $ 511,206 $ 1,704,553 Operating income for reportable segments 121,126 60,123 181,249 Assets used in business 1,223,926 1,066,062 2,289,988 Depreciation and amortization of property 7,822 2,197 10,019 Capital expenditures 5,700 1,396 7,096 A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows: Three Months Ended Six Months Ended December 31, December 31, 2019 2018 2019 2018 Operating income for reportable segments $ 83,354 $ 87,560 $ 170,571 $ 181,249 Adjustment for: Intangible amortization—Service Center Based Distribution 2,832 3,973 5,886 7,991 Intangible amortization—Fluid Power & Flow Control 7,363 7,018 14,683 13,921 Corporate and other expense, net 14,414 15,604 30,091 32,033 Total operating income 58,745 60,965 119,911 127,304 Interest expense, net 9,583 9,578 19,642 20,054 Other (income) expense, net (215 ) 946 (215 ) 707 Income before income taxes $ 49,377 $ 50,441 $ 100,484 $ 106,543 The change in corporate and other expense, net is due to changes in corporate expenses, as well as in the amounts and levels of certain expenses being allocated to the segments. The expenses being allocated include corporate charges for working capital, logistics support and other items.

Other Income, Net

Other Income, Net	6 Months Ended
	Dec. 31, 2019
Other Income and Expenses [Abstract]
OTHER INCOME, NET	OTHER (INCOME) EXPENSE, NET Other (income) expense, net consists of the following: Three Months Ended Six Months Ended December 31, December 31, 2019 2018 2019 2018 Unrealized (gain) loss on assets held in rabbi trust for a non-qualified deferred compensation plan $ (766 ) $ 1,179 $ (821 ) $ 837 Foreign currency transactions loss 556 7 334 34 Net other periodic post-employment benefits (30 ) (22 ) (60 ) (44 ) Life insurance expense (income), net 59 (280 ) 359 (193 ) Other, net (34 ) 62 (27 ) 73 Total other (income) expense, net $ (215 ) $ 946 $ (215 ) $ 707

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Inventory, Policy [Policy Text Block]	Inventory The Company uses the 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 and Changes in Accounting Principles [Text Block]	Recently Adopted Accounting Guidance Leases In February 2016, the FASB issued its final standard on accounting for leases. This standard, issued as ASU 2016-02, requires that an entity that is a lessee recognize lease assets and lease liabilities on the balance sheet for all leases and disclose key information about leasing arrangements. This update is effective for annual financial statement periods beginning after December 15, 2018, with earlier application permitted. In July 2018, the FASB issued ASU 2018-10 which clarifies the guidance in ASU 2016-02 and ASU 2018-11 which provides entities with an additional transition method option for adopting the new standard. In December 2018 and January 2019, the FASB issued ASU 2018-20 and ASU 2019-01, respectively, which further clarify the guidance. The Company adopted the new guidance effective July 1, 2019 using the optional transition method, which required application of the new guidance to only those leases that existed at the date of adoption. The Company elected the “package of practical expedients,” which permitted the Company to not reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. Adoption of the new standard resulted in the recognition of right-of-use (ROU) assets and lease liabilities of $83,533 and $89,778 , respectively, on July 1, 2019. The difference between the ROU assets and lease liabilities related primarily to the impairment of certain leases in Canada and the United States. In addition, the adoption resulted in an adjustment to opening retained earnings of approximately $3,275 , net of tax, on July 1, 2019 primarily due to the impairment of the leases. The standard did not have a material impact on the Company’s condensed statements of consolidated income or cash flows. Cash Flows In August 2016, the FASB issued its final standard on the classification of certain cash receipts and cash payments within the statement of cash flows. This standard, issued as ASU 2016-15, makes a number of changes meant to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. This update is effective for annual and interim financial statement periods beginning after December 15, 2018, with early adoption permitted. The Company adopted the new guidance in the first quarter of fiscal 2020. The adoption of this guidance did not have a material impact on the Company's financial statements or related disclosures.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Recently Issued Accounting Guidance In June 2016, the FASB issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, requires that an entity measure impairment of certain financial instruments, including trade receivables, based on expected losses rather than incurred losses. This update is effective for annual and interim financial statement periods beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. In November 2018, April 2019, May 2019, and November 2019 the FASB issued ASU 2018-19, ASU 2019-04, ASU 2019-05 and ASU 2019-11, respectively, which clarify the guidance in ASU 2016-13. The Company has not yet determined the impact of these pronouncements on its financial statements and related disclosures. In December 2019, the FASB issued its final standard on simplifying the accounting for income taxes. This standard, issued as 2019-12, makes a number of changes meant to add or clarify guidance on accounting for income taxes. This update is effective for annual and interim financial statement periods beginning after December 15, 2021, with early adoption permitted in any interim period for which financial statements have not yet been filed. The Company has not yet determined the impact of these pronouncements on its financial statements and related disclosures.

Leases Leases (Policies)

Leases Leases (Policies)	6 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Lessee, Leases [Policy Text Block]	The Company leases facilities for certain service centers, warehouses, distribution centers and office space. The Company also leases office equipment and vehicles. All leases are classified as operating. The Company’s leases expire at various dates through 2031, with terms ranging from 1 year to 15 years. Many of the Company’s real estate leases contain renewal provisions to extend lease terms up to 5 years. The exercise of renewal options is solely at the Company’s discretion. The Company’s lease agreements do not contain material variable lease payments, residual value guarantees or restrictive covenants. The Company does not recognize right-of-use assets or lease liabilities for short-term leases with initial terms of 12 months or less. Leased vehicles comprise the majority of the Company’s short-term leases. All other leases are recorded on the balance sheet with right-of-use assets representing the right to use the underlying asset for the lease term and lease liabilities representing lease payment obligations. The Company’s leases do not provide implicit rates; therefore the Company uses its incremental borrowing rate as the discount rate for measuring lease liabilities. Non-lease components are accounted for separately from lease components. The Company’s operating lease expense is recognized on a straight-line basis over the lease term and is recorded in selling, distribution and administrative expense on the condensed statements of consolidated income. Operating lease costs and short-term lease costs were $8,428 and $2,743 for the three months ended December 31, 2019 , respectively, and were $16,728 and $5,340 for the six months ended December 31, 2019 , respectively. Variable lease costs and sublease income were not material.

Revenue Recognition Revenue R_2

Revenue Recognition Revenue Recognition (Tables)	6 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Geographic Areas [Table Text Block]	The following tables present the Company's net sales by reportable segment and by geographic areas based on the location of the facility shipping the product for the three and six months ended December 31, 2019 and 2018 . Other countries consist of Mexico, Australia, New Zealand, and Singapore. Three Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Geographic Areas: United States $ 467,191 $ 253,149 $ 720,340 $ 479,335 $ 247,862 $ 727,197 Canada 67,897 — 67,897 68,569 — 68,569 Other countries 40,700 4,438 45,138 41,394 2,878 44,272 Total $ 575,788 $ 257,587 $ 833,375 $ 589,298 $ 250,740 $ 840,038 Six Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Geographic Areas: United States $ 960,064 $ 503,262 $ 1,463,326 $ 970,109 $ 504,511 $ 1,474,620 Canada 133,843 — 133,843 137,676 — 137,676 Other countries 85,041 7,569 92,610 85,562 6,695 92,257 Total $ 1,178,948 $ 510,831 $ 1,689,779 $ 1,193,347 $ 511,206 $ 1,704,553
Disaggregation of Revenue [Table Text Block]	The following tables present the Company’s percentage of revenue by reportable segment and major customer industry for the three and six months ended December 31, 2019 and 2018 : Three Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total General Industry 34.4 % 41.0 % 36.4 % 35.9 % 46.1 % 38.9 % Industrial Machinery 9.1 % 24.2 % 13.8 % 9.7 % 20.3 % 12.9 % Metals 10.7 % 7.6 % 9.8 % 13.6 % 8.5 % 12.1 % Food 12.0 % 3.0 % 9.2 % 10.1 % 2.7 % 7.8 % Oil & Gas 8.1 % 1.8 % 6.1 % 10.2 % 2.1 % 7.8 % Chem/Petrochem 3.6 % 14.4 % 6.9 % 2.9 % 14.0 % 6.2 % Forest Products 9.5 % 2.9 % 7.5 % 7.1 % 2.9 % 5.9 % Cement & Aggregate 7.8 % 1.0 % 5.7 % 6.0 % 0.9 % 4.5 % Transportation 4.8 % 4.1 % 4.6 % 4.5 % 2.5 % 3.9 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Six Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total General Industry 34.6 % 42.4 % 37.0 % 35.8 % 44.9 % 38.4 % Industrial Machinery 9.7 % 23.2 % 13.8 % 9.5 % 20.8 % 12.9 % Metals 11.5 % 7.9 % 10.4 % 12.3 % 8.2 % 11.1 % Food 11.5 % 2.8 % 8.9 % 10.4 % 2.6 % 8.1 % Oil & Gas 8.7 % 1.9 % 6.6 % 9.9 % 2.1 % 7.6 % Chem/Petrochem 3.2 % 13.5 % 6.3 % 3.2 % 14.8 % 6.7 % Forest Products 8.6 % 3.0 % 6.9 % 8.0 % 2.8 % 6.4 % Cement & Aggregate 7.3 % 1.0 % 5.4 % 6.4 % 1.0 % 4.8 % Transportation 4.9 % 4.3 % 4.7 % 4.5 % 2.8 % 4.0 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % The following tables present the Company’s percentage of revenue by reportable segment and product line for the three and six months ended December 31, 2019 and 2018 : Three Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Power Transmission 35.4 % 11.8 % 28.1 % 34.3 % 1.3 % 24.4 % General Maintenance; Hose Products 25.0 % 13.3 % 21.4 % 25.4 % 5.8 % 19.6 % Fluid Power 13.4 % 35.8 % 20.3 % 13.7 % 38.1 % 21.0 % Bearings, Linear & Seals 26.2 % 0.4 % 18.2 % 26.6 % 0.4 % 18.8 % Specialty Flow Control — % 38.7 % 12.0 % — % 54.4 % 16.2 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Six Months Ended December 31, 2019 2018 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Power Transmission 34.9 % 10.5 % 27.6 % 33.5 % 1.4 % 23.9 % General Maintenance; Hose Products 25.7 % 10.7 % 21.0 % 26.6 % 5.2 % 20.2 % Fluid Power 13.4 % 37.5 % 20.7 % 13.8 % 37.9 % 21.0 % Bearings, Linear & Seals 26.0 % 0.3 % 18.3 % 26.1 % 0.2 % 18.3 % Specialty Flow Control — % 41.0 % 12.4 % — % 55.3 % 16.6 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 %
Contract with Customer, Asset and Liability [Table Text Block]	Contract Assets The Company’s contract assets consist of un-billed amounts resulting from contracts for which revenue is recognized over time using the cost-to-cost method, and for which revenue recognized exceeds the amount billed to the customer. Activity related to contract assets, which are included in other current assets on the condensed consolidated balance sheet, is as follows: December 31, 2019 June 30, 2019 $ Change % Change Contract assets $ 7,038 $ 8,920 $ (1,882 ) (21.1 )% The difference between the opening and closing balances of the Company's contract assets primarily results from the timing difference between the Company's performance and when the customer is billed.

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	6 Months Ended
	Dec. 31, 2019
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 & Flow Control segment for the fiscal year ended June 30, 2019 and the six month period ended December 31, 2019 are as follows: Service Center Based Distribution Fluid Power & Flow Control Total Balance at July 1, 2018 $ 203,084 $ 443,559 $ 646,643 Goodwill acquired during the period 9,943 4,798 14,741 Other, primarily currency translation 607 — 607 Balance at June 30, 2019 $ 213,634 $ 448,357 $ 661,991 Goodwill adjusted/acquired during the period (3,393 ) 13,819 10,426 Other, primarily currency translation 758 — 758 Balance at December 31, 2019 $ 210,999 $ 462,176 $ 673,175
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: December 31, 2019 Amount Accumulated Amortization Net Book Value Finite-Lived Identifiable Intangibles: Customer relationships $ 430,253 $ 150,649 $ 279,604 Trade names 111,911 31,113 80,798 Vendor relationships 11,368 8,561 2,807 Other 2,035 725 1,310 Total Identifiable Intangibles $ 555,567 $ 191,048 $ 364,519 June 30, 2019 Amount Accumulated Amortization Net Book Value Finite-Lived Identifiable Intangibles: Customer relationships $ 422,367 $ 135,879 $ 286,488 Trade names 105,946 27,232 78,714 Vendor relationships 11,367 8,156 3,211 Other 2,702 2,249 453 Total Identifiable Intangibles $ 542,382 $ 173,516 $ 368,866 Amounts include the impact of foreign currency translation. Fully amortized amounts are written off.
Schedule of Acquired Indefinite-lived Intangible Assets by Major Class [Table Text Block]	During the six month period ended December 31, 2019 , 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 $ 7,160 20.0 Trade names 4,260 15.0 Other 980 6.8 Total Intangibles Acquired $ 12,400 17.2

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Accumulated Other Comprehensive Loss Changes in the accumulated other comprehensive loss are comprised of the following amounts, shown net of taxes: Three Months Ended December 31, 2019 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at October 1, 2019 $ (90,243 ) $ (2,865 ) $ (12,025 ) $ (105,133 ) Other comprehensive income 5,556 — 1,343 6,899 Amounts reclassified from accumulated other comprehensive (loss) income — (12 ) 686 674 Net current-period other comprehensive income (loss) 5,556 (12 ) 2,029 7,573 Balance at December 31, 2019 $ (84,687 ) $ (2,877 ) $ (9,996 ) $ (97,560 ) Three Months Ended December 31, 2018 Foreign currency translation adjustment Unrealized gain on securities available for sale Post-employment benefits Total Accumulated other comprehensive (loss) income Balance at October 1, 2018 $ (82,521 ) $ — $ (2,355 ) $ (84,876 ) Other comprehensive loss (9,699 ) — — (9,699 ) Amounts reclassified from accumulated other comprehensive (loss) income — — (57 ) (57 ) Net current-period other comprehensive loss (9,699 ) — (57 ) (9,756 ) Balance at December 31, 2018 $ (92,220 ) $ — $ (2,412 ) $ (94,632 ) Six Months Ended December 31, 2019 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at July 1, 2019 $ (86,330 ) $ (2,852 ) $ (10,704 ) $ (99,886 ) Other comprehensive income (loss) 1,643 — (300 ) 1,343 Amounts reclassified from accumulated other comprehensive (loss) income — (25 ) 1,008 983 Net current-period other comprehensive income (loss) 1,643 (25 ) 708 2,326 Balance at December 31, 2019 $ (84,687 ) $ (2,877 ) $ (9,996 ) $ (97,560 ) Six Months Ended December 31, 2018 Foreign currency translation adjustment Unrealized gain (loss) on securities available for sale Post-employment benefits Total Accumulated other comprehensive (loss) income Balance at July 1, 2018 $ (87,974 ) $ 50 $ (2,299 ) $ (90,223 ) Other comprehensive loss (4,246 ) — — (4,246 ) Amounts reclassified from accumulated other comprehensive (loss) income — — (113 ) (113 ) Cumulative effect of adopting accounting standard — (50 ) — (50 ) Net current-period other comprehensive loss (4,246 ) (50 ) (113 ) (4,409 ) Balance at December 31, 2018 $ (92,220 ) $ — $ (2,412 ) $ (94,632 )
Schedule of Comprehensive Income (Loss) [Table Text Block]	Other Comprehensive (Loss) Income Details of other comprehensive (loss) income are as follows: Three Months Ended December 31, 2019 2018 Pre-Tax Amount Tax Expense (Benefit) Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ 5,445 $ (111 ) $ 5,556 $ (10,270 ) $ (571 ) $ (9,699 ) Post-employment benefits: Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs (16 ) (4 ) (12 ) (78 ) (21 ) (57 ) Unrealized loss on cash flow hedge 1,822 479 1,343 — — — Reclassification of interest from cash flow hedge into interest expense 906 220 686 — — — Other comprehensive income (loss) $ 8,157 $ 584 $ 7,573 $ (10,348 ) $ (592 ) $ (9,756 ) Six Months Ended December 31, 2019 2018 Pre-Tax Amount Tax Expense (Benefit) Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ 1,411 $ (232 ) $ 1,643 $ (4,556 ) $ (310 ) $ (4,246 ) Post-employment benefits: Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs (33 ) (8 ) (25 ) (153 ) (40 ) (113 ) Cumulative effect of adopting accounting standard — — — (50 ) — (50 ) Unrealized loss on cash flow hedge (358 ) (58 ) (300 ) — — — Reclassification of interest from cash flow hedge into interest expense 1,333 325 1,008 — — — Other comprehensive income (loss) $ 2,353 $ 27 $ 2,326 $ (4,759 ) $ (350 ) $ (4,409 )

Leases Leases (Tables)

Leases Leases (Tables)	6 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Information related to operating leases is as follows: December 31, 2019 Operating lease assets, net $ 85,418 Operating lease liabilities Other current liabilities $ 28,209 Other liabilities 62,784 Total operating lease liabilities $ 90,993
Lease, Cost [Table Text Block]	December 31, 2019 Weighted average remaining lease term (years) 4.6 Weighted average incremental borrowing rate 3.40 % Three Months Ended December 31, 2019 Six Months Ended December 31, 2019 Cash paid for operating leases $ 8,731 $ 17,284 Right of use assets obtained in exchange for new operating lease liabilities $ 6,646 $ 18,445
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The table below summarizes the aggregate maturities of liabilities pertaining to operating leases with terms greater than one year for each of the next five years: Fiscal Year Maturity of Operating Lease Liabilities 2020 $ 16,347 2021 26,066 2022 19,168 2023 12,987 2024 9,868 Thereafter 14,044 Total lease payments 98,480 Less interest (7,487 ) Present value of lease liabilities $ 90,993
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The table below summarizes the future minimum annual rental commitments for operating leases accounted for in accordance with Accounting Standards Codification Topic 840, Leases, as of June 30, 2019 : Fiscal Year Operating Leases 2020 $ 33,707 2021 23,407 2022 16,420 2023 10,653 2024 7,838 Thereafter 12,135 Total minimum lease payments $ 104,160

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment financial information	Three Months Ended Service Center Based Distribution Fluid Power & Flow Control Total December 31, 2019 Net sales $ 575,788 $ 257,587 $ 833,375 Operating income for reportable segments 53,905 29,449 83,354 Depreciation and amortization of property 4,280 1,114 5,394 Capital expenditures 6,239 780 7,019 December 31, 2018 Net sales $ 589,298 $ 250,740 $ 840,038 Operating income for reportable segments 58,317 29,243 87,560 Depreciation and amortization of property 3,911 1,127 5,038 Capital expenditures 3,256 667 3,923 Six Months Ended Service Center Based Distribution Fluid Power & Flow Control Total December 31, 2019 Net sales $ 1,178,948 $ 510,831 $ 1,689,779 Operating income for reportable segments 114,265 56,306 170,571 Assets used in business 1,291,399 1,127,598 2,418,997 Depreciation and amortization of property 8,458 2,159 10,617 Capital expenditures 10,434 1,531 11,965 December 31, 2018 Net sales $ 1,193,347 $ 511,206 $ 1,704,553 Operating income for reportable segments 121,126 60,123 181,249 Assets used in business 1,223,926 1,066,062 2,289,988 Depreciation and amortization of property 7,822 2,197 10,019 Capital expenditures 5,700 1,396 7,096
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 Six Months Ended December 31, December 31, 2019 2018 2019 2018 Operating income for reportable segments $ 83,354 $ 87,560 $ 170,571 $ 181,249 Adjustment for: Intangible amortization—Service Center Based Distribution 2,832 3,973 5,886 7,991 Intangible amortization—Fluid Power & Flow Control 7,363 7,018 14,683 13,921 Corporate and other expense, net 14,414 15,604 30,091 32,033 Total operating income 58,745 60,965 119,911 127,304 Interest expense, net 9,583 9,578 19,642 20,054 Other (income) expense, net (215 ) 946 (215 ) 707 Income before income taxes $ 49,377 $ 50,441 $ 100,484 $ 106,543

Other Income, Net (Tables)

Other Income, Net (Tables)	6 Months Ended
	Dec. 31, 2019
Other Income and Expenses [Abstract]
Other (income) expense, net	Other (income) expense, net consists of the following: Three Months Ended Six Months Ended December 31, December 31, 2019 2018 2019 2018 Unrealized (gain) loss on assets held in rabbi trust for a non-qualified deferred compensation plan $ (766 ) $ 1,179 $ (821 ) $ 837 Foreign currency transactions loss 556 7 334 34 Net other periodic post-employment benefits (30 ) (22 ) (60 ) (44 ) Life insurance expense (income), net 59 (280 ) 359 (193 ) Other, net (34 ) 62 (27 ) 73 Total other (income) expense, net $ (215 ) $ 946 $ (215 ) $ 707

Basis of Presentation Change in

Basis of Presentation Change in Accounting Principle (Details) - Accounting Standards Update 2016-02 [Member] $ in Thousands	6 Months Ended
	Dec. 31, 2019USD ($)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 83,533
Other Liabilities [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	89,778
Retained Earnings [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 3,275

Revenue Recognition Revenue R_3

Revenue Recognition Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 833,375	$ 840,038	$ 1,689,779	$ 1,704,553
UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	720,340	727,197	1,463,326	1,474,620
CANADA
Disaggregation of Revenue [Line Items]
Net sales	67,897	68,569	133,843	137,676
Other Countries [Member]
Disaggregation of Revenue [Line Items]
Net sales	45,138	44,272	92,610	92,257
Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Net sales	575,788	589,298	1,178,948	1,193,347
Service Center Based Distribution Segment [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	467,191	479,335	960,064	970,109
Service Center Based Distribution Segment [Member] | CANADA
Disaggregation of Revenue [Line Items]
Net sales	67,897	68,569	133,843	137,676
Service Center Based Distribution Segment [Member] | Other Countries [Member]
Disaggregation of Revenue [Line Items]
Net sales	40,700	41,394	85,041	85,562
Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Net sales	257,587	250,740	510,831	511,206
Fluid Power & Flow Control Segment [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	253,149	247,862	503,262	504,511
Fluid Power & Flow Control Segment [Member] | CANADA
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Fluid Power & Flow Control Segment [Member] | Other Countries [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 4,438	$ 2,878	$ 7,569	$ 6,695

Revenue Recognition Revenue R_4

Revenue Recognition Revenue Recognition (Details 1)	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
General Industry [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	36.40%	38.90%	37.00%	38.40%
General Industry [Domain] | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	34.40%	35.90%	34.60%	35.80%
General Industry [Domain] | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	41.00%	46.10%	42.40%	44.90%
Industrial Machinery [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	13.80%	12.90%	13.80%	12.90%
Industrial Machinery [Domain] | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	9.10%	9.70%	9.70%	9.50%
Industrial Machinery [Domain] | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	24.20%	20.30%	23.20%	20.80%
Metals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	9.80%	12.10%	10.40%	11.10%
Metals [Domain] | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	10.70%	13.60%	11.50%	12.30%
Metals [Domain] | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	7.60%	8.50%	7.90%	8.20%
Food [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	9.20%	7.80%	8.90%	8.10%
Food [Domain] | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	12.00%	10.10%	11.50%	10.40%
Food [Domain] | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	3.00%	2.70%	2.80%	2.60%
Oil & Gas [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	6.10%	7.80%	6.60%	7.60%
Oil & Gas [Domain] | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	8.10%	10.20%	8.70%	9.90%
Oil & Gas [Domain] | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	1.80%	2.10%	1.90%	2.10%
Chem/Petrochem [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	6.90%	6.20%	6.30%	6.70%
Chem/Petrochem [Domain] | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	3.60%	2.90%	3.20%	3.20%
Chem/Petrochem [Domain] | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	14.40%	14.00%	13.50%	14.80%
Forest Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	7.50%	5.90%	6.90%	6.40%
Forest Products [Domain] | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	9.50%	7.10%	8.60%	8.00%
Forest Products [Domain] | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	2.90%	2.90%	3.00%	2.80%
Cement & Aggregate [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	5.70%	4.50%	5.40%	4.80%
Cement & Aggregate [Domain] | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	7.80%	6.00%	7.30%	6.40%
Cement & Aggregate [Domain] | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	1.00%	0.90%	1.00%	1.00%
Transportation [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	4.60%	3.90%	4.70%	4.00%
Transportation [Domain] | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	4.80%	4.50%	4.90%	4.50%
Transportation [Domain] | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	4.10%	2.50%	4.30%	2.80%
Total
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	100.00%	100.00%	100.00%	100.00%
Total | Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	100.00%	100.00%	100.00%	100.00%
Total | Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	100.00%	100.00%	100.00%	100.00%

Revenue Recognition Revenue R_5

Revenue Recognition Revenue Recognition (Details 2)	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	100.00%	100.00%	100.00%	100.00%
Power Transmission [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	28.10%	24.40%	27.60%	23.90%
General Maintenance; Hose Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	21.40%	19.60%	21.00%	20.20%
Fluid Power [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	20.30%	21.00%	20.70%	21.00%
Bearings, Linear & Seals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	18.20%	18.80%	18.30%	18.30%
Specialty Flow Control [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	12.00%	16.20%	12.40%	16.60%
Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	100.00%	100.00%	100.00%	100.00%
Service Center Based Distribution Segment [Member] | Power Transmission [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	35.40%	34.30%	34.90%	33.50%
Service Center Based Distribution Segment [Member] | General Maintenance; Hose Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	25.00%	25.40%	25.70%	26.60%
Service Center Based Distribution Segment [Member] | Fluid Power [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	13.40%	13.70%	13.40%	13.80%
Service Center Based Distribution Segment [Member] | Bearings, Linear & Seals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	26.20%	26.60%	26.00%	26.10%
Service Center Based Distribution Segment [Member] | Specialty Flow Control [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	0.00%	0.00%	0.00%	0.00%
Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	100.00%	100.00%	100.00%	100.00%
Fluid Power & Flow Control Segment [Member] | Power Transmission [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	11.80%	1.30%	10.50%	1.40%
Fluid Power & Flow Control Segment [Member] | General Maintenance; Hose Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	13.30%	5.80%	10.70%	5.20%
Fluid Power & Flow Control Segment [Member] | Fluid Power [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	35.80%	38.10%	37.50%	37.90%
Fluid Power & Flow Control Segment [Member] | Bearings, Linear & Seals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	0.40%	0.40%	0.30%	0.20%
Fluid Power & Flow Control Segment [Member] | Specialty Flow Control [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	38.70%	54.40%	41.00%	55.30%

Revenue Recognition Revenue R_6

Revenue Recognition Revenue Recognition (Details 3) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Contract Assets	$ 7,038	$ 8,920
Contract Assets Period $ Change	$ (1,882)
Contract Assets Period % Change	(21.10%)

Business Combinations Business

Business Combinations Business Combinations Textuals (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Aug. 21, 2019	Mar. 04, 2019	Nov. 02, 2018
Olympus Controls [Member]
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Total Consideration	$ 35,795
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 9,540
Intangible Assets, Net (Including Goodwill)		$ 26,255
MilRoc [Member] [Domain]
Total Consideration	35,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			$ 17,788
Intangible Assets, Net (Including Goodwill)			17,212
Funding from Holdback Payments			$ 4,375
Debt Instrument, Interest Rate, Stated Percentage			2.00%
Fluid Power Sales [Member]
Total Consideration	8,066
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net				$ 4,151
Intangible Assets, Net (Including Goodwill)				3,915
Funding from Holdback Payments	$ 600			$ 1,200
Debt Instrument, Interest Rate, Stated Percentage				1.50%
Other Liabilities [Member] | Fluid Power Sales [Member]
Funding from Holdback Payments				$ 600

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Changes in the carrying amount of goodwill by reportable segment
Balance at beginning of period	$ 661,991	$ 646,643
Goodwill adjusted/acquired during the period	10,426	14,741
Other, primarily currency translation	758	607
Balance at December 31, 2019	673,175	661,991
Service Center Based Distribution Segment [Member]
Changes in the carrying amount of goodwill by reportable segment
Balance at beginning of period	213,634	203,084
Goodwill adjusted/acquired during the period	(3,393)	9,943
Other, primarily currency translation	758	607
Balance at December 31, 2019	210,999	213,634
Fluid Power Businesses Segment [Member]
Changes in the carrying amount of goodwill by reportable segment
Balance at beginning of period	448,357	443,559
Goodwill adjusted/acquired during the period	13,819	4,798
Other, primarily currency translation	0	0
Balance at December 31, 2019	$ 462,176	$ 448,357

Goodwill and Intangibles (Det_2

Goodwill and Intangibles (Details 1) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Amortization details resulting from business combinations
Amount	$ 555,567	$ 542,382
Accumulated Amortization	191,048	173,516
Net Book Value	364,519	368,866
Customer relationships
Amortization details resulting from business combinations
Amount	430,253	422,367
Accumulated Amortization	150,649	135,879
Net Book Value	279,604	286,488
Trade names
Amortization details resulting from business combinations
Amount	111,911	105,946
Accumulated Amortization	31,113	27,232
Net Book Value	80,798	78,714
Vendor relationships
Amortization details resulting from business combinations
Amount	11,368	11,367
Accumulated Amortization	8,561	8,156
Net Book Value	2,807	3,211
Non-competition agreements
Amortization details resulting from business combinations
Amount	2,035	2,702
Accumulated Amortization	725	2,249
Net Book Value	$ 1,310	$ 453

Goodwill and Intangibles Goodwi

Goodwill and Intangibles Goodwill and Intangibles (Details 2) $ in Thousands	6 Months Ended
	Dec. 31, 2019USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 12,400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	17 years 2 months 12 days
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 7,160
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 4,260
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 980
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 years 9 months 18 days

Goodwill and Intangibles (Det_3

Goodwill and Intangibles (Details Textuals) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	$ (555,567)		$ (555,567)		$ (542,382)
Intangible amortization			$ 20,569	$ 21,912
Number of Reporting Units			7
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	20.00%		20.00%
Goodwill	$ 673,175		$ 673,175		661,991	$ 646,643
Goodwill and Intangibles (Textuals) [Abstract]
Amortization expense for the remainder of 2020	20,100		20,100
Amortization expense for 2021	38,500		38,500
Amortization expense for 2022	36,400		36,400
Amortization expense for 2023	34,200		34,200
Amortization expense for 2024	29,900		29,900
Amortization expense for 2025	26,400		26,400
Service Center Based Distribution Segment [Member]
Goodwill [Line Items]
Goodwill	210,999		210,999		213,634	$ 203,084
Accumulated goodwill impairment losses	64,794		64,794
Fluid Power & Flow Control Segment [Member]
Goodwill [Line Items]
Intangible amortization	7,363	$ 7,018	14,683	$ 13,921
Accumulated goodwill impairment losses	$ 36,605		$ 36,605
Canada [Member]
Goodwill [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	25.00%		25.00%
Goodwill	$ 28,438		$ 28,438
FCX Performance, Inc [Member] [Member]
Goodwill [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	20.00%		20.00%
Goodwill	$ 440,012		$ 440,012
Customer Relationships [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	(430,253)		(430,253)		(422,367)
Trade Names [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	(111,911)		(111,911)		(105,946)
Other Intangible Assets [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	(2,035)		(2,035)		$ (2,702)
MilRoc [Member] [Domain]
Goodwill [Line Items]
Goodwill, Purchase Accounting Adjustments			3,393
Intangible amortization			303
MilRoc [Member] [Domain] | Customer Relationships [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	(1,524)		(1,524)
MilRoc [Member] [Domain] | Trade Names [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	(1,809)		(1,809)
MilRoc [Member] [Domain] | Other Intangible Assets [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	(60)		(60)
Olympus Controls [Member]
Goodwill [Line Items]
Goodwill, Purchase Accounting Adjustments			264
Intangible amortization			24
Olympus Controls [Member] | Customer Relationships [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	(5,504)		(5,504)
Olympus Controls [Member] | Trade Names [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	(4,260)		(4,260)
Olympus Controls [Member] | Other Intangible Assets [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	$ (980)		$ (980)

Debt Debt (Details)

Debt Debt (Details) - USD ($)	3 Months Ended	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Long-term Debt Instruments [Line Items]
Letters of Credit Outstanding, Amount	$ 3,788,000	$ 3,788,000		$ 2,698,000
Long-term debt repayments		34,868,000	$ 151,868,000
Debt Issuance Costs, Gross, Current	593,000	593,000		577,000
Debt Issuance Cost, Gross, Noncurrent	1,174,000	1,174,000		1,366,000
Revolving Credit Facility [Member]
Long-term Debt Instruments [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250,000,000	250,000,000
Letters of Credit Outstanding, Amount	1,776,000	1,776,000		3,215,000
Line of Credit Facility, Remaining Borrowing Capacity	248,224,000	$ 248,224,000		246,785,000
Revolving Credit Facility [Member] | Minimum [Member]
Long-term Debt Instruments [Line Items]
Line of Credit Facility, Commitment Fee Percentage		0.10%
Revolving Credit Facility [Member] | Maximum [Member]
Long-term Debt Instruments [Line Items]
Line of Credit Facility, Commitment Fee Percentage		0.20%
Long-term Debt [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Face Amount	780,000,000	$ 780,000,000
Long-term Debt	$ 603,875,000	$ 603,875,000		$ 613,625,000
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	3.56%	3.56%		4.19%
Asset-backed Securities, Securitized Loans and Receivables [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	2.61%	2.61%		3.33%
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement	$ 175,000,000	$ 175,000,000
Debt Instrument, Fee	0.0090	0.0090
Prudential Facility [Domain]
Long-term Debt Instruments [Line Items]
Debt Instrument, Face Amount	$ 170,000,000	$ 170,000,000
Prudential Facility [Domain] | Minimum [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.25%	0.25%
Prudential Facility [Domain] | Maximum [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.25%	1.25%
Prudential Facility - Series C [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	$ 120,000,000	$ 120,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.19%	3.19%
Prudential Facility - Series D [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	$ 50,000,000	$ 50,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.21%	3.21%
Long-term debt repayments	$ 25,000,000
Prudential Facility - Series E [Member] [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	$ 25,000,000	$ 25,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.08%	3.08%
State of Ohio Assumed Debt [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Face Amount	$ 2,359,000	$ 2,359,000
Long-term Debt	$ 1,086,000	$ 1,086,000		$ 1,204,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	1.50%	1.50%

Derivatives Derivatives (Detail

Derivatives Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Derivative [Line Items]
Derivative, Amount of Hedged Item	$ 431,000	$ 463,000
Derivative, Fixed Interest Rate	4.36%	4.36%
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 13,228	$ 14,202

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Level 1 [Member] | Recurring [Member]
Fair Value Measurements (Textuals) [Line Items]
Marketable securities	$ 12,301	$ 11,246

Shareholders' Equity Accumulate

Shareholders' Equity Accumulated Other Comprehensive Income (Loss) [Table] (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period		$ (99,886)			$ (99,886)
Other comprehensive income (loss), Cash flow hedge	$ 1,343		$ 0		(300)	$ 0
Amounts reclassified from accumulated other comprehensive (loss) income						(113)
Amounts reclassified from accumulated other comprehensive (loss) income, Cash flow hedge	686		0		1,008	0
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	5,556		(9,699)		1,643	(4,246)
Net current-period other comprehensive income (loss), net of taxes, Securities Available for Sale					0	(50)
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	7,573		(9,756)		2,326	(4,409)
Balance at end of period	(97,560)				(97,560)
Adjustments for New Accounting Pronouncement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive (loss) income						(50)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive (loss) income	674		(57)		983
Amounts reclassified from accumulated other comprehensive (loss) income, Postemployment benefits	(12)		(57)		(25)	(113)
Amounts reclassified from accumulated other comprehensive (loss) income, Cash flow hedge	686				1,008
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(90,243)	(86,330)	(82,521)	$ (87,974)	(86,330)	(87,974)
Other comprehensive income (loss), Foreign Currency Translation Adjustment	5,556		(9,699)		1,643	(4,246)
Amounts reclassified from accumulated other comprehensive (loss) income	0		0		0	0
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	5,556		(9,699)		1,643	(4,246)
Balance at end of period	(84,687)	(90,243)	(92,220)	(82,521)	(84,687)	(92,220)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period			0	50		50
Other comprehensive income (loss), Unrealized gain (loss) on securities available for sale			0			0
Amounts reclassified from accumulated other comprehensive (loss) income			0			0
Net current-period other comprehensive income (loss), net of taxes, Securities Available for Sale			0			(50)
Balance at end of period			0	0		0
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Adjustments for New Accounting Pronouncement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive (loss) income						(50)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(2,865)	(2,852)	(2,355)	(2,299)	(2,852)	(2,299)
Other comprehensive income (loss), Postemployment Benefits,	0		0		0	0
Amounts reclassified from accumulated other comprehensive (loss) income						0
Net current-period other comprehensive income (loss), net of taxes, Postemployment benefits	(12)		(57)		(25)	(113)
Balance at end of period	(2,877)	(2,865)	(2,412)	(2,355)	(2,877)	(2,412)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(12,025)	(10,704)			(10,704)
Other comprehensive income (loss), Cash flow hedge	1,343				(300)
Net current-period other comprehensive income (loss), net of taxes, Cash flow hedge	2,029				708
Balance at end of period	(9,996)	(12,025)			(9,996)
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(105,133)	(99,886)	(84,876)	(90,223)	(99,886)	(90,223)
Other comprehensive income (loss), Total accumulated other comprehensive income (loss)	6,899		(9,699)		1,343	(4,246)
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	7,573	(5,247)	(9,756)	5,347	2,326	(4,409)
Balance at end of period	$ (97,560)	$ (105,133)	$ (94,632)	$ (84,876)	$ (97,560)	$ (94,632)

Shareholders' Equity (Details 1

Shareholders' Equity (Details 1 ) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Other comprehensive income (loss):
Foreign currency translation adjustments, before Tax	$ 5,445	$ (10,270)	$ 1,411	$ (4,556)
Foreign currency translation adjustments, Tax	(111)	(571)	(232)	(310)
Foreign currency translation adjustments, Net of Tax	5,556	(9,699)	1,643	(4,246)
Post-employment benefits:
Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs, before Tax	(16)	(78)	(33)	(153)
Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs, Tax	(4)	(21)	(8)	(40)
Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs, Net of Tax	(12)	(57)	(25)	(113)
Cumulative effect of adopting accounting standard, before tax	0	0	0	(50)
Cumulative effect of adopting accounting standard, tax			0	0
Cumulative effect of adopting accounting standard, Net of Tax			0	(50)
Unrealized loss on cash flow hedge, before Tax	1,822	0	(358)	0
Unrealized loss on cash flow hedge, Tax	479	0	(58)	0
Unrealized loss on cash flow hedge, Net of Tax	1,343	0	(300)	0
Reclassification of interest from cash flow hedge into interest expense	906	0	1,333	0
Reclassification of interest from cash flow hedge into interest expense, Tax	220	0	325	0
Reclassification of interest from cash flow hedge into interest expense, Net of Tax	686	0	1,008	0
Other Comprehensive Income (Loss), before Tax	8,157	(10,348)	2,353	(4,759)
Other Comprehensive Income (Loss), Tax	584	(592)	27	(350)
Other Comprehensive Income (Loss), Net of Tax	$ 7,573	$ (9,756)	$ 2,326	$ (4,409)

Shareholders' Equity Shareholde

Shareholders' Equity Shareholders Equity Details Textuals (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	503	242	722	242

Leases Leases (Details)

Leases Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease assets, net	$ 85,418	$ 0
Operating lease liabilities [Abstract]
Other current liabilities	28,209
Other liabilities	62,784
Total operating lease liabilities	$ 90,993

Leases Leases (Details 1)

Leases Leases (Details 1) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Leases [Abstract]
Weighted average remaining lease term (years)	4 years 7 months 6 days	4 years 7 months 6 days
Weighted average incremental borrowing rate	3.40%	3.40%
Cash paid for operating leases	$ 8,731	$ 17,284
Right of use assets obtained in exchange for new operating lease liabilities	$ 6,646	$ 18,445

Leases Leases (Details 2)

Leases Leases (Details 2) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
Maturity of Operating Lease Liabilities, 2020	$ 16,347
Maturity of Operating Lease Liabilities, 2021	26,066
Maturity of Operating Lease Liabilities, 2022	19,168
Maturity of Operating Lease Liabilities, 2023	12,987
Maturity of Operating Lease Liabilities, 2024	9,868
Maturity of Operating Lease Liabilities, Thereafter	14,044
Total lease payments	98,480
Less interest	(7,487)
Present value of lease liabilities	$ 90,993

Leases Leases (Details 3)

Leases Leases (Details 3) $ in Thousands	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating Leases, Future Minimum Payments Due, 2020	$ 33,707
Operating Leases, Future Minimum Payments Due, 2021	23,407
Operating Leases, Future Minimum Payments Due, 2022	16,420
Operating Leases, Future Minimum Payments Due, 2023	10,653
Operating Leases, Future Minimum Payments Due, 2024	7,838
Operating Leases, Future Minimum Payments, Due Thereafter	12,135
Total minimum lease payments	$ 104,160

Leases Leases Textuals (Details

Leases Leases Textuals (Details 4) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Lessee, Operating Lease, Renewal Term	5 years	5 years
Operating Lease, Cost	$ 8,428	$ 16,728
Short-term Lease, Cost	$ 2,743	$ 5,340
Minimum [Member]
Lessee, Operating Lease, Term of Contract	1 year	1 year
Maximum [Member]
Lessee, Operating Lease, Term of Contract	15 years	15 years

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 833,375	$ 840,038	$ 1,689,779	$ 1,704,553
Operating income for reportable segments	58,745	60,965	119,911	127,304
Assets used in business	2,418,997		2,418,997		$ 2,331,697
Depreciation and amortization of property			10,617	10,019
Capital expenditures			11,965	7,096
Service Center Based Distribution [Member]
Segment Reporting Information [Line Items]
Net sales	575,788	589,298	1,178,948	1,193,347
Operating income for reportable segments	53,905	58,317	114,265	121,126
Assets used in business	1,291,399	1,223,926	1,291,399	1,223,926
Depreciation and amortization of property	4,280	3,911	8,458	7,822
Capital expenditures	6,239	3,256	10,434	5,700
Fluid Power & Flow Control Segment [Member]
Segment Reporting Information [Line Items]
Net sales	257,587	250,740	510,831	511,206
Operating income for reportable segments	29,449	29,243	56,306	60,123
Assets used in business	1,127,598	1,066,062	1,127,598	1,066,062
Depreciation and amortization of property	1,114	1,127	2,159	2,197
Capital expenditures	780	667	1,531	1,396
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	833,375	840,038	1,689,779	1,704,553
Operating income for reportable segments	83,354	87,560	170,571	181,249
Assets used in business	2,418,997	2,289,988	2,418,997	2,289,988
Depreciation and amortization of property	5,394	5,038	10,617	10,019
Capital expenditures	$ 7,019	$ 3,923	$ 11,965	$ 7,096

Segment Information (Details 1)

Segment Information (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	$ 58,745	$ 60,965	$ 119,911	$ 127,304
Adjustment for:
Intangible amortization			20,569	21,912
Corporate and other expense, net	14,414	15,604	30,091	32,033
Interest expense, net	9,583	9,578	19,642	20,054
Other (income) expense, net	(215)	946	(215)	707
Income before income taxes	49,377	50,441	100,484	106,543
Operating Segments [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	83,354	87,560	170,571	181,249
Service Center Based Distribution [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	53,905	58,317	114,265	121,126
Adjustment for:
Intangible amortization	2,832	3,973	5,886	7,991
Fluid Power & Flow Control Segment [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	29,449	29,243	56,306	60,123
Adjustment for:
Intangible amortization	$ 7,363	$ 7,018	$ 14,683	$ 13,921

Segment Information (Details Te

Segment Information (Details Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Inventory, LIFO Reserve, Period Charge	$ 1,929	$ 2,676	$ 2,287	$ 4,347
Net sales	833,375	840,038	1,689,779	1,704,553
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	$ 7,436	$ 6,769	$ 14,749	$ 13,685

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Other Income and Expenses [Abstract]
Unrealized (gain) loss on assets held in rabbi trust for a non-qualified deferred compensation plan	$ (766)	$ 1,179	$ (821)	$ 837
Foreign currency transactions loss	556	7	334	34
Net other periodic post-employment benefits	(30)	(22)	(60)	(44)
Life insurance expense (income), net	59	(280)	359	(193)
Other, net	(34)	62	(27)	73
Total other (income) expense, net	$ (215)	$ 946	$ (215)	$ 707