Applied Industrial (AIT) 10-Q 29 Oct 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2020	Oct. 16, 2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
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		38,759,994
Document and Entity Information [Abstract]
Entity Central Index Key	0000109563
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Statements of Consoli

Condensed Statements of Consolidated Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 747,807	$ 856,404
Cost of sales	532,026	604,944
Gross profit	215,781	251,460
Selling, distribution and administrative expense, including depreciation	163,473	190,294
Operating income	52,308	61,166
Interest expense, net	7,653	10,059
Other income, net	(177)	0
Income before income taxes	44,832	51,107
Income tax expense	10,048	12,308
Net income	$ 34,784	$ 38,799
Net income per share - basic	$ 0.90	$ 1
Net income per share - diluted	$ 0.89	$ 1
Weighted average common shares outstanding for basic computation	38,722	38,611
Dilutive effect of potential common shares	366	350
Weighted average common shares outstanding for diluted computation	39,088	38,961

Condensed Statements of Conso_2

Condensed Statements of Consolidated Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Net income per the condensed statements of consolidated income	$ 34,784	$ 38,799
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	5,554	(4,034)
Post-employment benefits:
Reclassification of net actuarial losses (gains) and prior service cost into other income, net and included in net periodic pension costs	68	(17)
Unrealized loss on cash flow hedge	(17)	(2,180)
Reclassification of interest from cash flow hedge into interest expense	2,690	427
Total other comprehensive income ( loss), before tax	8,295	(5,804)
Income tax expense (benefit) related to items of other comprehensive loss	786	(557)
Other comprehensive income (loss), net of tax	7,509	(5,247)
Comprehensive income, net of tax	$ 42,293	$ 33,552

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Current assets
Cash and cash equivalents	$ 271,060	$ 268,551
Accounts receivable, net	447,032	449,998
Inventories	365,355	389,150
Other current assets	52,887	52,070
Total current assets	1,136,334	1,159,769
Property, less accumulated depreciation of $197,143 and $192,054	120,285	121,901
Operating Lease, Right-of-Use Asset	89,622	90,636
Identifiable intangibles, net	333,613	343,215
Goodwill	541,357	540,594
Other assets	28,042	27,436
TOTAL ASSETS	2,249,253	2,283,551
Current liabilities
Accounts payable	181,627	186,270
Current portion of long-term debt	78,651	78,646
Compensation and related benefits	65,168	61,887
Other current liabilities	88,605	99,280
Total current liabilities	414,051	426,083
Long-term debt	792,827	855,143
Other liabilities	156,969	158,783
TOTAL LIABILITIES	1,363,847	1,440,009
Shareholders’ Equity
Preferred stock—no par value; 2,500 shares authorized; none issued or outstanding	0	0
Common stock—no par value; 80,000 shares authorized; 54,213 shares issued	10,000	10,000
Additional paid-in capital	176,007	176,492
Retained earnings	1,235,351	1,200,570
Treasury shares—at cost (15,453 and 15,503 shares, respectively)	414,031	414,090
Accumulated other comprehensive loss	(121,921)	(129,430)
TOTAL SHAREHOLDERS’ EQUITY	885,406	843,542
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	2,249,253	2,283,551
Cash, Cash Equivalents, and Short-term Investments	271,060	268,551
Accounts receivable, net	447,032	449,998
Inventory, Net	365,355	389,150
Other Assets, Current	52,887	52,070
Assets, Current	1,136,334	1,159,769
Property, less accumulated depreciation of $197,143 and $192,054	120,285	121,901
Operating Lease, Right-of-Use Asset	89,622	90,636
Intangible Assets, Net (Excluding Goodwill)	333,613	343,215
Goodwill	541,357	540,594
Other Assets, Noncurrent	$ 28,042	$ 27,436

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Noncurrent Assets:
Property, less accumulated depreciation	$ 197,143	$ 192,054
Shareholders’ Equity
Preferred stock, shares authorized	2,500
Common stock, shares authorized	80,000
Common stock, shares issued	54,213
Treasury shares	15,453	15,503

Condensed Statements of Conso_3

Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities
Net income	$ 34,784	$ 38,799
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	5,352	5,223
Amortization of intangibles	9,726	10,374
Other share-based compensation expense	677	919
Changes in operating assets and liabilities, net of acquisitions	24,559	(8,682)
Other, net	6,051	2,612
Net Cash provided by Operating Activities	81,842	50,018
Cash Flows from Investing Activities
Acquisition of businesses, net of cash acquired	0	(35,703)
Property purchases	(3,597)	(4,946)
Proceeds from property sales	193	88
Net Cash used in Investing Activities	(3,404)	(40,561)
Cash Flows from Financing Activities
Long-term debt repayments	62,450	4,934
Dividends paid	(12,415)	(11,985)
Acquisition holdback payments	521	201
Taxes paid for shares withheld for equity awards	(1,797)	(1,754)
Net Cash used in Financing Activities	(77,183)	(18,874)
Effect of Exchange Rate Changes on Cash	1,254	(598)
Increase (decrease) in Cash and Cash Equivalents	2,509	(10,015)
Cash and Cash Equivalents at Beginning of Period	268,551	108,219
Cash and Cash Equivalents at End of Period	271,060	98,204
Other share-based compensation expense	677	919
Stock Appreciation Rights (SARs) [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Other share-based compensation expense	693	773
Other share-based compensation expense	$ 693	$ 773

Condensed Statements of Shareho

Condensed Statements of Shareholder's Equity Condensed Statements of Shareholders' Equity (Unaudited) - USD ($) shares 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, 2019		38,597
Beginning balance at Jun. 30, 2019		$ 10,000,000				$ 172,931,000				$ 1,229,148,000	$ (415,159,000)				$ (99,886,000)	$ 897,034,000
Net income	$ 38,799,000															38,799,000
Other comprehensive (loss) income	(5,247,000)														(5,247,000)	(5,247,000)
Cash dividends										(20,000)						(20,000)
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							$ (177,000)	$ (1,540,000)	$ (631,000)
Exercise of stock appreciation rights and options												$ (61,000)
Performance share awards													$ (362,000)
Restricted stock units														$ 200,000
Total Shareholders' Equity, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units																	$ (116,000)	$ (1,178,000)	$ (431,000)
Compensation expense						919,000	773,000									919,000	773,000
Stockholders' Equity, Other Shares		2
Other						(52,000)				(4,000)	23,000					(33,000)
Other | Adjustments for New Accounting Pronouncement [Member]										(3,275,000)						(3,275,000)
Ending balance, shares at Sep. 30, 2019		38,656
Ending balance at Sep. 30, 2019		$ 10,000,000				172,223,000				1,264,648,000	(414,513,000)				(105,133,000)	927,225,000
Beginning balance, shares at Jun. 30, 2020		38,710
Beginning balance at Jun. 30, 2020	843,542,000	$ 10,000,000				176,492,000				1,200,570,000	(414,090,000)				(129,430,000)	843,542,000
Net income	34,784,000															34,784,000
Other comprehensive (loss) income	7,509,000														7,509,000	7,509,000
Cash dividends										(18,000)						(18,000)
Exercise of stock appreciation rights and options, shares			13
Performance share awards, shares				22
Restricted stock units, shares					15
Additional Paid in Capital, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units							(277,000)	$ (985,000)	$ (593,000)
Exercise of stock appreciation rights and options												$ (12,000)
Performance share awards													$ (20,000)
Restricted stock units														$ 96,000
Total Shareholders' Equity, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units																	(265,000)	$ (1,005,000)	$ (497,000)
Compensation expense						677,000	$ 693,000									677,000	$ 693,000
Other										15,000	(29,000)					(14,000)
Ending balance, shares at Sep. 30, 2020		38,760
Ending balance at Sep. 30, 2020	$ 885,406,000	$ 10,000,000				$ 176,007,000				$ 1,235,351,000	$ (414,031,000)				$ (121,921,000)	$ 885,406,000

Condensed Statements of Share_2

Condensed Statements of Shareholder's Equity Condensed Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Dividends per Common Share	$ 0.32	$ 0.31

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the financial position of Applied Industrial Technologies, Inc. (the “Company”, or “Applied”) as of September 30, 2020, and the results of its operations and its cash flows for the three month periods ended September 30, 2020 and 2019, have been included. The condensed consolidated balance sheet as of June 30, 2020 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, 2020. Operating results for the three month period ended September 30, 2020 are not necessarily indicative of the results that may be expected for the remainder of the fiscal year ending June 30, 2021. 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 Accounting for current expected credit losses 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, November 2019, and February 2020, the FASB issued ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11 and ASU 2020-02, respectively, which clarify the guidance in ASU 2016-13. The Company adopted the new guidance in the first quarter of fiscal 2021. 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 December 2019, the FASB issued its final standard on simplifying the accounting for income taxes. This standard, issued as ASU 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, 2020, 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 this pronouncement on its financial statements and related disclosures.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition	3 Months Ended
	Sep. 30, 2020
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 months ended September 30, 2020 and 2019. Other countries consist of Mexico, Australia, New Zealand, and Singapore. Three Months Ended September 30, 2020 2019 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Geographic Areas: United States $ 415,242 $ 228,815 $ 644,057 $ 492,873 $ 250,113 $ 742,986 Canada 56,896 — 56,896 65,946 — 65,946 Other countries 41,146 5,708 46,854 44,341 3,131 47,472 Total $ 513,284 $ 234,523 $ 747,807 $ 603,160 $ 253,244 $ 856,404 The following tables present the Company’s percentage of revenue by reportable segment and major customer industry for the three months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 2019 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total General Industry 36.0 % 39.4 % 37.0 % 34.8 % 43.7 % 37.5 % Industrial Machinery 9.4 % 26.7 % 14.9 % 10.2 % 22.1 % 13.7 % Food 14.1 % 3.0 % 10.7 % 11.1 % 2.7 % 8.6 % Metals 10.2 % 7.0 % 9.2 % 12.4 % 8.2 % 11.1 % Forest Products 10.8 % 2.9 % 8.3 % 7.7 % 3.1 % 6.4 % Chem/Petrochem 3.5 % 13.3 % 6.6 % 2.8 % 12.7 % 5.7 % Cement & Aggregate 7.7 % 1.1 % 5.6 % 6.8 % 1.0 % 5.1 % Transportation 4.7 % 5.4 % 4.9 % 4.9 % 4.6 % 4.8 % Oil & Gas 3.6 % 1.2 % 2.8 % 9.3 % 1.9 % 7.1 % 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 months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 2019 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Power Transmission 37.7 % 7.6 % 28.3 % 34.5 % 9.3 % 27.1 % Fluid Power 13.1 % 39.1 % 21.3 % 13.3 % 39.7 % 21.1 % Bearings, Linear & Seals 29.0 % 0.4 % 20.0 % 25.9 % 0.3 % 18.3 % General Maintenance; Hose Products 20.2 % 13.8 % 18.1 % 26.3 % 8.0 % 20.9 % Specialty Flow Control — % 39.1 % 12.3 % — % 42.7 % 12.6 % Total 100 % 100 % 100 % 100 % 100 % 100 % 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: September 30, 2020 June 30, 2020 $ Change % Change Contract assets $ 9,536 $ 8,435 $ 1,101 13.1 % 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	3 Months Ended
	Sep. 30, 2020
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 (Olympus), a Portland, Oregon automation solutions provider - including design, assembly, integration, and distribution - of motion control, machine vision, and robotic technologies. Olympus is included in the Fluid Power & Flow Control segment. The purchase price for the acquisition was $36,642, net tangible assets acquired were $9,540, and intangible assets including goodwill was $27,102 based upon estimated fair values at the acquisition date. 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	3 Months Ended
	Sep. 30, 2020
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, 2020 and the three month period ended September 30, 2020 are as follows: Service Center Based Distribution Fluid Power & Flow Control Total Balance at June 30, 2019 $ 213,634 $ 448,357 $ 661,991 Goodwill acquired during the period (3,393) 14,667 11,274 Impairment — (131,000) (131,000) Other, primarily currency translation (1,671) — (1,671) Balance at June 30, 2020 $ 208,570 $ 332,024 $ 540,594 Other, primarily currency translation 763 — 763 Balance at September 30, 2020 $ 209,333 $ 332,024 $ 541,357 The Company has eight (8) reporting units for which an annual goodwill impairment assessment was performed as of January 1, 2020. The Company concluded that seven (7) of the reporting units’ fair value exceeded their carrying amounts by at least 10% as of January 1, 2020. Among these, the Canada reporting unit's fair value exceeded its carrying value by 12%, and the Mexico reporting unit's fair value exceeded its carrying value by 14%. The Canada and Mexico reporting units have goodwill balances of $27,770 and $5,365, respectively, as of September 30, 2020. As of January 1, 2020, the carrying value of the final reporting unit, which is comprised of the FCX Performance Inc. (FCX) operations, exceeded the fair value, resulting in goodwill impairment of $131,000. The non-cash impairment charge is the result of the overall decline in the industrial economy, specifically slower demand in FCX's end markets. This has led to reduced spending by customers and reduced revenue expectations. The remaining goodwill for the FCX reporting unit as of September 30, 2020 is $309,012. Because the carrying value of the FCX reporting unit approximated fair value of the reporting unit after the impairment was recorded, a future decline in the estimated cash flows could result in an additional impairment loss. A future decline in the estimated cash flows could result from a significant or extended decline in various end markets. 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, earnings before interest, taxes, depreciation, and amortization (EBITDA), 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, EBITDA, and multiples that are applied to management’s forecasted revenues and EBITDA estimates. The techniques used in the Company's impairment test have incorporated a number of assumptions that the Company believes to be reasonable and to reflect known market conditions at the measurement date. Assumptions in estimating future cash flows are subject to a degree of judgment. The Company makes all efforts to forecast future cash flows as accurately as possible with the information available at the measurement date. The Company evaluates the appropriateness of its assumptions and overall forecasts by comparing projected results of upcoming years with actual results of preceding years. Key assumptions (Level 3 in the fair value hierarchy) relate to pricing trends, inventory costs, customer demand, and revenue growth. A number of benchmarks from independent industry and other economic publications were also used. 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 additional 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 September 30, 2020 and June 30, 2020, accumulated goodwill impairment losses subsequent to fiscal year 2002 totaled $64,794 related to the Service Center Based Distribution segment. At September 30, 2020 and June 30, 2020, accumulated goodwill impairment losses subsequent to fiscal year 2002 totaled $167,605 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: September 30, 2020 Amount Accumulated Net Book Finite-Lived Identifiable Intangibles: Customer relationships $ 426,471 $ 170,805 $ 255,666 Trade names 111,488 36,794 74,694 Vendor relationships 11,376 9,170 2,206 Other 2,078 1,031 1,047 Total Identifiable Intangibles $ 551,413 $ 217,800 $ 333,613 June 30, 2020 Amount Accumulated Net Book Finite-Lived Identifiable Intangibles: Customer relationships $ 426,017 $ 162,965 $ 263,052 Trade names 111,453 34,815 76,638 Vendor relationships 11,329 8,934 2,395 Other 2,078 948 1,130 Total Identifiable Intangibles $ 550,877 $ 207,662 $ 343,215 Amounts include the impact of foreign currency translation. Fully amortized amounts are written off. Identifiable intangible assets with finite lives are reviewed for impairment when changes in conditions indicate carrying value may not be recoverable. Sustained significant softness in certain end market concentrations could result in impairment of certain intangible assets in future periods. Estimated future amortization expense by fiscal year (based on the Company’s identifiable intangible assets as of September 30, 2020) for the next five years is as follows: $28,600 for the remainder of 2021, $36,200 for 2022, $34,000 for 2023, $29,800 for 2024, $26,800 for 2025 and $24,800 for 2026.

Debt Debt

Debt Debt	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	DEBT A summary of long-term debt, including the current portion, follows: September 30, 2020 June 30, 2020 Term Loan $ 579,500 $ 589,250 Trade receivable securitization facility 162,300 175,000 Series C notes 80,000 120,000 Series D notes 25,000 25,000 Series E notes 25,000 25,000 Other 1,026 1,026 Total debt $ 872,826 $ 935,276 Less: unamortized debt issuance costs 1,348 1,487 $ 871,478 $ 933,789 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. The Company had no amount outstanding under the revolver at September 30, 2020 or June 30, 2020. Unused lines under this facility, net of outstanding letters of credit of $731 and $1,873, respectively, to secure certain insurance obligations, totaled $249,269 and $248,127 at September 30, 2020 and June 30, 2020, respectively, and were available to fund future acquisitions or other capital and operating requirements. The interest rate on the term loan was 1.94% as of September 30, 2020 and June 30, 2020. Additionally, the Company had letters of credit outstanding with separate banks, not associated with the revolving credit agreement, in the amount of $4,499 and $4,475 as of September 30, 2020 and June 30, 2020, 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. The interest rate on the AR Securitization Facility was 1.07% as of September 30, 2020 and June 30, 2020. The Company classified the AR Securitization Facility as long-term debt as it has the ability and intent to extend or refinance this amount on a long-term basis. Other Long-Term Borrowings At September 30, 2020 and June 30, 2020, the Company had borrowings outstanding under its unsecured shelf facility agreement with Prudential Investment Management of $130,000 and $170,000, respectively. 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, which had an original principal amount of $120,000, carry a fixed interest rate of 3.19%. A $40,000 principal payment was made on the "Series C" notes in July 2020, and the remaining principal balance of $80,000 is due in equal payments in July 2021 and 2022. The "Series D" notes have a remaining principal balance of $25,000, carry a fixed interest rate of 3.21%, and are due in October 2023. The “Series E” notes have a principal amount of $25,000, carry a fixed interest rate of 3.08%, and are due in October 2024.

Derivatives Derivatives

Derivatives Derivatives	3 Months Ended
	Sep. 30, 2020
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 September 30, 2020 and June 30, 2020, respectively. The fair value (Level 2 in the fair value hierarchy) of the interest rate cash flow hedge was $23,505 and $26,179 as of September 30, 2020 and June 30, 2020, respectively, which is included in other current liabilities and other liabilities in the condensed consolidated balance sheet. Realized losses related to the interest rate cash flow hedge were not material during the three months ended September 30, 2020 and 2019.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Marketable securities measured at fair value at September 30, 2020 and June 30, 2020 totaled $13,533 and $12,259, 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 September 30, 2020 and June 30, 2020, 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	3 Months Ended
	Sep. 30, 2020
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 September 30, 2020 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at June 30, 2020 $ (105,094) $ (4,564) $ (19,772) $ (129,430) Other comprehensive income (loss) 5,439 — (13) 5,426 Amounts reclassified from accumulated other comprehensive (loss) income — 51 2,032 2,083 Net current-period other comprehensive income 5,439 51 2,019 7,509 Balance at September 30 2020 $ (99,655) $ (4,513) $ (17,753) $ (121,921) Three Months Ended September 30, 2019 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at June 30, 2019 $ (86,330) $ (2,852) $ (10,704) $ (99,886) Other comprehensive loss (3,913) — (1,643) (5,556) Amounts reclassified from accumulated other comprehensive (loss) income — (13) 322 309 Net current-period other comprehensive loss (3,913) (13) (1,321) (5,247) Balance at September 30, 2019 $ (90,243) $ (2,865) $ (12,025) $ (105,133) Other Comprehensive Income (Loss) Details of other comprehensive income (loss) are as follows: Three Months Ended September 30, 2020 2019 Pre-Tax Amount Tax Expense (Benefit) Net Amount Pre-Tax Amount Tax (Benefit) Expense Net Amount Foreign currency translation adjustments $ 5,554 $ 115 $ 5,439 $ (4,034) $ (121) $ (3,913) Post-employment benefits: Reclassification of net actuarial losses (gains) and prior service cost into other income, net and included in net periodic pension costs 68 17 51 (17) (4) (13) Unrealized loss on cash flow hedge (17) (4) (13) (2,180) (537) (1,643) Reclassification of interest from cash flow hedge into interest expense 2,690 658 2,032 427 105 322 Other comprehensive income (loss) $ 8,295 $ 786 $ 7,509 $ (5,804) $ (557) $ (5,247) Anti-dilutive Common Stock Equivalents

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2020
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 $1,133 and $358 in the three months ended September 30, 2020 and 2019, 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 $7,496 and $7,313, in the three months ended September 30, 2020 and 2019, respectively, have been eliminated in the Segment Financial Information tables below. Three Months Ended Service Center Based Distribution Fluid Power & Flow Control Total September 30, 2020 Net sales $ 513,284 $ 234,523 $ 747,807 Operating income for reportable segments 49,901 25,861 75,762 Assets used in business 1,283,031 966,222 2,249,253 Depreciation and amortization of property 4,395 957 5,352 Capital expenditures 3,088 509 3,597 September 30, 2019 Net sales $ 603,160 $ 253,244 $ 856,404 Operating income for reportable segments 60,360 26,857 87,217 Assets used in business 1,289,592 1,140,140 2,429,732 Depreciation and amortization of property 4,178 1,045 5,223 Capital expenditures 4,195 751 4,946 A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows: Three Months Ended September 30, 2020 2019 Operating income for reportable segments $ 75,762 $ 87,217 Adjustment for: Intangible amortization—Service Center Based Distribution 2,581 3,054 Intangible amortization—Fluid Power & Flow Control 7,145 7,320 Corporate and other expense, net 13,728 15,677 Total operating income 52,308 61,166 Interest expense, net 7,653 10,059 Other income, net (177) — Income before income taxes $ 44,832 $ 51,107 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	3 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
OTHER INCOME, NET	OTHER INCOME, NET Other income, net consists of the following: Three Months Ended September 30, 2020 2019 Unrealized gain on assets held in rabbi trust for a non-qualified deferred compensation plan $ (819) $ (55) Foreign currency transactions loss (gain) 416 (222) Net other periodic post-employment benefits 71 (30) Life insurance expense, net 177 300 Other, net (22) 7 Total other income, net $ (177) $ —

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events	3 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events [Text Block]	11. SUBSEQUENT EVENTS We have evaluated events and transactions occurring subsequent to September 30, 2019 through the date the financial statements were issued. On October 5, 2020, the Company acquired substantially all of the net assets of Advanced Control Solutions, which operates four locations in Georgia, Tennessee and Alabama. As a provider of automation products, services, and engineered solutions focused on machine vision equipment and software, mobile and collaborative robotic solutions, intelligent sensors, logic controllers, and other related equipment, this business will be included in the Fluid Power & Flow Control segment.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 2020
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, Policy [Policy Text Block]	Recently Adopted Accounting Guidance Accounting for current expected credit losses
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Recently Issued Accounting Guidance In December 2019, the FASB issued its final standard on simplifying the accounting for income taxes. This standard, issued as ASU 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, 2020, 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 this pronouncement on its financial statements and related disclosures.

Revenue Recognition Revenue R_2

Revenue Recognition Revenue Recognition (Tables)	3 Months Ended
	Sep. 30, 2020
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 months ended September 30, 2020 and 2019. Other countries consist of Mexico, Australia, New Zealand, and Singapore. Three Months Ended September 30, 2020 2019 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Geographic Areas: United States $ 415,242 $ 228,815 $ 644,057 $ 492,873 $ 250,113 $ 742,986 Canada 56,896 — 56,896 65,946 — 65,946 Other countries 41,146 5,708 46,854 44,341 3,131 47,472 Total $ 513,284 $ 234,523 $ 747,807 $ 603,160 $ 253,244 $ 856,404
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 months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 2019 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total General Industry 36.0 % 39.4 % 37.0 % 34.8 % 43.7 % 37.5 % Industrial Machinery 9.4 % 26.7 % 14.9 % 10.2 % 22.1 % 13.7 % Food 14.1 % 3.0 % 10.7 % 11.1 % 2.7 % 8.6 % Metals 10.2 % 7.0 % 9.2 % 12.4 % 8.2 % 11.1 % Forest Products 10.8 % 2.9 % 8.3 % 7.7 % 3.1 % 6.4 % Chem/Petrochem 3.5 % 13.3 % 6.6 % 2.8 % 12.7 % 5.7 % Cement & Aggregate 7.7 % 1.1 % 5.6 % 6.8 % 1.0 % 5.1 % Transportation 4.7 % 5.4 % 4.9 % 4.9 % 4.6 % 4.8 % Oil & Gas 3.6 % 1.2 % 2.8 % 9.3 % 1.9 % 7.1 % 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 months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 2019 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Power Transmission 37.7 % 7.6 % 28.3 % 34.5 % 9.3 % 27.1 % Fluid Power 13.1 % 39.1 % 21.3 % 13.3 % 39.7 % 21.1 % Bearings, Linear & Seals 29.0 % 0.4 % 20.0 % 25.9 % 0.3 % 18.3 % General Maintenance; Hose Products 20.2 % 13.8 % 18.1 % 26.3 % 8.0 % 20.9 % Specialty Flow Control — % 39.1 % 12.3 % — % 42.7 % 12.6 % Total 100 % 100 % 100 % 100 % 100 % 100 %
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: September 30, 2020 June 30, 2020 $ Change % Change Contract assets $ 9,536 $ 8,435 $ 1,101 13.1 % 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)	3 Months Ended
	Sep. 30, 2020
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, 2020 and the three month period ended September 30, 2020 are as follows: Service Center Based Distribution Fluid Power & Flow Control Total Balance at June 30, 2019 $ 213,634 $ 448,357 $ 661,991 Goodwill acquired during the period (3,393) 14,667 11,274 Impairment — (131,000) (131,000) Other, primarily currency translation (1,671) — (1,671) Balance at June 30, 2020 $ 208,570 $ 332,024 $ 540,594 Other, primarily currency translation 763 — 763 Balance at September 30, 2020 $ 209,333 $ 332,024 $ 541,357
Schedule of Intangible Assets	The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following: September 30, 2020 Amount Accumulated Net Book Finite-Lived Identifiable Intangibles: Customer relationships $ 426,471 $ 170,805 $ 255,666 Trade names 111,488 36,794 74,694 Vendor relationships 11,376 9,170 2,206 Other 2,078 1,031 1,047 Total Identifiable Intangibles $ 551,413 $ 217,800 $ 333,613 June 30, 2020 Amount Accumulated Net Book Finite-Lived Identifiable Intangibles: Customer relationships $ 426,017 $ 162,965 $ 263,052 Trade names 111,453 34,815 76,638 Vendor relationships 11,329 8,934 2,395 Other 2,078 948 1,130 Total Identifiable Intangibles $ 550,877 $ 207,662 $ 343,215 Amounts include the impact of foreign currency translation. Fully amortized amounts are written off.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2020
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 September 30, 2020 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at June 30, 2020 $ (105,094) $ (4,564) $ (19,772) $ (129,430) Other comprehensive income (loss) 5,439 — (13) 5,426 Amounts reclassified from accumulated other comprehensive (loss) income — 51 2,032 2,083 Net current-period other comprehensive income 5,439 51 2,019 7,509 Balance at September 30 2020 $ (99,655) $ (4,513) $ (17,753) $ (121,921) Three Months Ended September 30, 2019 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at June 30, 2019 $ (86,330) $ (2,852) $ (10,704) $ (99,886) Other comprehensive loss (3,913) — (1,643) (5,556) Amounts reclassified from accumulated other comprehensive (loss) income — (13) 322 309 Net current-period other comprehensive loss (3,913) (13) (1,321) (5,247) Balance at September 30, 2019 $ (90,243) $ (2,865) $ (12,025) $ (105,133)
Schedule of Comprehensive Income (Loss) [Table Text Block]	Other Comprehensive Income (Loss) Details of other comprehensive income (loss) are as follows: Three Months Ended September 30, 2020 2019 Pre-Tax Amount Tax Expense (Benefit) Net Amount Pre-Tax Amount Tax (Benefit) Expense Net Amount Foreign currency translation adjustments $ 5,554 $ 115 $ 5,439 $ (4,034) $ (121) $ (3,913) Post-employment benefits: Reclassification of net actuarial losses (gains) and prior service cost into other income, net and included in net periodic pension costs 68 17 51 (17) (4) (13) Unrealized loss on cash flow hedge (17) (4) (13) (2,180) (537) (1,643) Reclassification of interest from cash flow hedge into interest expense 2,690 658 2,032 427 105 322 Other comprehensive income (loss) $ 8,295 $ 786 $ 7,509 $ (5,804) $ (557) $ (5,247)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment financial information	Three Months Ended Service Center Based Distribution Fluid Power & Flow Control Total September 30, 2020 Net sales $ 513,284 $ 234,523 $ 747,807 Operating income for reportable segments 49,901 25,861 75,762 Assets used in business 1,283,031 966,222 2,249,253 Depreciation and amortization of property 4,395 957 5,352 Capital expenditures 3,088 509 3,597 September 30, 2019 Net sales $ 603,160 $ 253,244 $ 856,404 Operating income for reportable segments 60,360 26,857 87,217 Assets used in business 1,289,592 1,140,140 2,429,732 Depreciation and amortization of property 4,178 1,045 5,223 Capital expenditures 4,195 751 4,946
Reconciliation of operating income for reportable segments to the consolidated income before income taxes	A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows: Three Months Ended September 30, 2020 2019 Operating income for reportable segments $ 75,762 $ 87,217 Adjustment for: Intangible amortization—Service Center Based Distribution 2,581 3,054 Intangible amortization—Fluid Power & Flow Control 7,145 7,320 Corporate and other expense, net 13,728 15,677 Total operating income 52,308 61,166 Interest expense, net 7,653 10,059 Other income, net (177) — Income before income taxes $ 44,832 $ 51,107

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Other (income) expense, net	Other income, net consists of the following: Three Months Ended September 30, 2020 2019 Unrealized gain on assets held in rabbi trust for a non-qualified deferred compensation plan $ (819) $ (55) Foreign currency transactions loss (gain) 416 (222) Net other periodic post-employment benefits 71 (30) Life insurance expense, net 177 300 Other, net (22) 7 Total other income, net $ (177) $ —

Revenue Recognition Revenue R_3

Revenue Recognition Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 747,807	$ 856,404
UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	644,057	742,986
CANADA
Disaggregation of Revenue [Line Items]
Net sales	56,896	65,946
Other Countries [Member]
Disaggregation of Revenue [Line Items]
Net sales	46,854	47,472
Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Net sales	513,284	603,160
Service Center Based Distribution Segment [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	415,242	492,873
Service Center Based Distribution Segment [Member] | CANADA
Disaggregation of Revenue [Line Items]
Net sales	56,896	65,946
Service Center Based Distribution Segment [Member] | Other Countries [Member]
Disaggregation of Revenue [Line Items]
Net sales	41,146	44,341
Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Net sales	234,523	253,244
Fluid Power & Flow Control Segment [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	228,815	250,113
Fluid Power & Flow Control Segment [Member] | CANADA
Disaggregation of Revenue [Line Items]
Net sales	0	0
Fluid Power & Flow Control Segment [Member] | Other Countries [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 5,708	$ 3,131

Revenue Recognition Revenue R_4

Revenue Recognition Revenue Recognition (Details 1)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
General Industry [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	37.00%	37.50%
Industrial Machinery [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	14.90%	13.70%
Food [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	10.70%	8.60%
Metals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	9.20%	11.10%
Forest Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	8.30%	6.40%
Chem/Petrochem [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	6.60%	5.70%
Cement & Aggregate [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	5.60%	5.10%
Transportation [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	4.90%	4.80%
Oil & Gas [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	2.80%	7.10%
Total
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	100.00%	100.00%
Service Center Based Distribution Segment [Member] | General Industry [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	36.00%	34.80%
Service Center Based Distribution Segment [Member] | Industrial Machinery [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	9.40%	10.20%
Service Center Based Distribution Segment [Member] | Food [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	14.10%	11.10%
Service Center Based Distribution Segment [Member] | Metals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	10.20%	12.40%
Service Center Based Distribution Segment [Member] | Forest Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	10.80%	7.70%
Service Center Based Distribution Segment [Member] | Chem/Petrochem [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	3.50%	2.80%
Service Center Based Distribution Segment [Member] | Cement & Aggregate [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	7.70%	6.80%
Service Center Based Distribution Segment [Member] | Transportation [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	4.70%	4.90%
Service Center Based Distribution Segment [Member] | Oil & Gas [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	3.60%	9.30%
Service Center Based Distribution Segment [Member] | Total
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	100.00%	100.00%
Fluid Power & Flow Control Segment [Member] | General Industry [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	39.40%	43.70%
Fluid Power & Flow Control Segment [Member] | Industrial Machinery [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	26.70%	22.10%
Fluid Power & Flow Control Segment [Member] | Food [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	3.00%	2.70%
Fluid Power & Flow Control Segment [Member] | Metals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	7.00%	8.20%
Fluid Power & Flow Control Segment [Member] | Forest Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	2.90%	3.10%
Fluid Power & Flow Control Segment [Member] | Chem/Petrochem [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	13.30%	12.70%
Fluid Power & Flow Control Segment [Member] | Cement & Aggregate [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	1.10%	1.00%
Fluid Power & Flow Control Segment [Member] | Transportation [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	5.40%	4.60%
Fluid Power & Flow Control Segment [Member] | Oil & Gas [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	1.20%	1.90%
Fluid Power & Flow Control Segment [Member] | Total
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	100.00%	100.00%

Revenue Recognition Revenue R_5

Revenue Recognition Revenue Recognition (Details 2)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	100.00%	100.00%
Power Transmission [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	28.30%	27.10%
Fluid Power [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	21.30%	21.10%
Bearings, Linear & Seals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	20.00%	18.30%
General Maintenance; Hose Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	18.10%	20.90%
Specialty Flow Control [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	12.30%	12.60%
Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	100.00%	100.00%
Service Center Based Distribution Segment [Member] | Power Transmission [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	37.70%	34.50%
Service Center Based Distribution Segment [Member] | Fluid Power [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	13.10%	13.30%
Service Center Based Distribution Segment [Member] | Bearings, Linear & Seals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	29.00%	25.90%
Service Center Based Distribution Segment [Member] | General Maintenance; Hose Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	20.20%	26.30%
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%
Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	100.00%	100.00%
Fluid Power & Flow Control Segment [Member] | Power Transmission [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	7.60%	9.30%
Fluid Power & Flow Control Segment [Member] | Fluid Power [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	39.10%	39.70%
Fluid Power & Flow Control Segment [Member] | Bearings, Linear & Seals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	0.40%	0.30%
Fluid Power & Flow Control Segment [Member] | General Maintenance; Hose Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	13.80%	8.00%
Fluid Power & Flow Control Segment [Member] | Specialty Flow Control [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	39.10%	42.70%

Revenue Recognition Revenue R_6

Revenue Recognition Revenue Recognition (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Contract Assets	$ 9,536	$ 8,435
Contract Assets Period $ Change	$ 1,101
Contract Assets Period % Change	13.10%

Business Combinations Business

Business Combinations Business Combinations Textuals (Details) - Olympus Controls [Member] - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Aug. 21, 2019
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Total Consideration	$ 36,642
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 9,540
Intangible Assets, Net (Including Goodwill)		$ 27,102

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Changes in the carrying amount of goodwill by reportable segment
Balance at beginning of period	$ 540,594	$ 661,991
Goodwill adjusted/acquired during the period		11,274
Impairment		(131,000)
Other, primarily currency translation	763	(1,671)
Balance at September 30, 2020	541,357	540,594
FCX Performance, Inc
Changes in the carrying amount of goodwill by reportable segment
Balance at September 30, 2020	309,012
Service Center Based Distribution Segment [Member]
Changes in the carrying amount of goodwill by reportable segment
Balance at beginning of period	208,570	213,634
Goodwill adjusted/acquired during the period		(3,393)
Impairment		0
Other, primarily currency translation	763	(1,671)
Balance at September 30, 2020	209,333	208,570
Fluid Power & Flow Control Segment [Member]
Changes in the carrying amount of goodwill by reportable segment
Balance at beginning of period	332,024	448,357
Goodwill adjusted/acquired during the period		14,667
Impairment		(131,000)
Other, primarily currency translation	0	0
Balance at September 30, 2020	$ 332,024	332,024
Fluid Power & Flow Control Segment [Member] | FCX Performance, Inc
Changes in the carrying amount of goodwill by reportable segment
Impairment		$ (131,000)

Goodwill and Intangibles (Det_2

Goodwill and Intangibles (Details 1) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Amortization details resulting from business combinations
Amount	$ 551,413	$ 550,877
Accumulated Amortization	217,800	207,662
Net Book Value	333,613	343,215
Customer relationships
Amortization details resulting from business combinations
Amount	426,471	426,017
Accumulated Amortization	170,805	162,965
Net Book Value	255,666	263,052
Trade names
Amortization details resulting from business combinations
Amount	111,488	111,453
Accumulated Amortization	36,794	34,815
Net Book Value	74,694	76,638
Vendor relationships
Amortization details resulting from business combinations
Amount	11,376	11,329
Accumulated Amortization	9,170	8,934
Net Book Value	2,206	2,395
Other Intangible Assets
Amortization details resulting from business combinations
Amount	2,078	2,078
Accumulated Amortization	1,031	948
Net Book Value	$ 1,047	$ 1,130

Goodwill and Intangibles (Det_3

Goodwill and Intangibles (Details Textuals) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Goodwill [Line Items]
Number of Reporting Units	8
Number of Reporting Units with Fair Value Exceeding Carrying Value	7
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	10.00%
Goodwill	$ 541,357	$ 540,594	$ 661,991
Impairment		131,000
Goodwill and Intangibles (Textuals) [Abstract]
Amortization expense for the remainder of 2021	28,600
Amortization expense for 2022	36,200
Amortization expense for 2023	34,000
Amortization expense for 2024	29,800
Amortization expense for 2025	26,800
Amortization expense for 2026	24,800
Service Center Based Distribution Segment [Member]
Goodwill [Line Items]
Goodwill	209,333	208,570	213,634
Impairment		0
Accumulated goodwill impairment losses	64,794
Fluid Power & Flow Control Segment [Member]
Goodwill [Line Items]
Goodwill	332,024	332,024	$ 448,357
Impairment		131,000
Accumulated goodwill impairment losses	$ 167,605
CANADA
Goodwill [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	12.00%
Goodwill	$ 27,770
MEXICO
Goodwill [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	14.00%
Goodwill	$ 5,365
FCX Performance, Inc
Goodwill [Line Items]
Goodwill	$ 309,012
FCX Performance, Inc | Fluid Power & Flow Control Segment [Member]
Goodwill [Line Items]
Impairment		$ 131,000

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Long-term Debt Instruments [Line Items]
Total debt	$ 872,826	$ 935,276
Less: unamortized debt issuance costs	1,348	1,487
Debt, Long-term and Short-term, Combined Amount	871,478
Long-term Debt [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	579,500	589,250
Debt, Long-term and Short-term, Combined Amount		933,789
Asset-backed Securities, Securitized Loans and Receivables [Member]
Long-term Debt Instruments [Line Items]
Trade receivable securitization facility	162,300	175,000
Prudential Facility - Series C [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	80,000	120,000
Prudential Facility - Series D [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	25,000	25,000
Prudential Facility - Series E [Member] [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	25,000	25,000
State of Ohio Assumed Debt [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	$ 1,026	$ 1,026

Debt (Textuals) (Details)

Debt (Textuals) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Long-term Debt Instruments [Line Items]
Letters of Credit Outstanding, Amount	$ 4,499,000	$ 4,475,000
Revolving Credit Facility [Member]
Long-term Debt Instruments [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250,000,000
Letters of Credit Outstanding, Amount	731,000	1,873,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 249,269,000	248,127,000
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
Long-term Debt	$ 579,500,000	589,250,000
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	1.94%
Asset-backed Securities, Securitized Loans and Receivables [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Face Amount	$ 175,000,000
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	1.07%
Debt Instrument, Fee	$ 0.0090
Prudential Facility [Domain]
Long-term Debt Instruments [Line Items]
Long-term Debt	$ 130,000,000	170,000,000
Prudential Facility [Domain] | Minimum [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.25%
Prudential Facility [Domain] | Maximum [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.25%
Prudential Facility - Series C [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Face Amount	$ 120,000,000
Long-term Debt	$ 80,000,000	120,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.19%
Repayments of Debt	$ 40,000,000
Prudential Facility - Series D [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	3.21%
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%
State of Ohio Assumed Debt [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Face Amount	$ 2,359,000
Long-term Debt	$ 1,026,000	$ 1,026,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	1.50%

Derivatives Derivatives (Detail

Derivatives Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Derivative [Line Items]
Derivative, Amount of Hedged Item	$ 431,000	$ 463,000
Derivative, Fixed Interest Rate	4.36%
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 23,505	$ 26,179

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Level 1 [Member] | Recurring [Member]
Fair Value Measurements (Textuals) [Line Items]
Marketable securities	$ 13,533	$ 12,259

Shareholders' Equity Accumulate

Shareholders' Equity Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (129,430)
Other comprehensive income (loss), Cash flow hedge	(13)	$ (1,643)
Amounts reclassified from accumulated other comprehensive (loss) income, Cash flow hedge	2,032	322
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	5,439	(3,913)
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	7,509	(5,247)
Balance at end of period	(121,921)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive (loss) income	2,083	309
Amounts reclassified from accumulated other comprehensive (loss) income, Postemployment benefits	51	(13)
Amounts reclassified from accumulated other comprehensive (loss) income, Cash flow hedge	2,032	322
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(105,094)	(86,330)
Other comprehensive income (loss), Foreign Currency Translation Adjustment	5,439	(3,913)
Amounts reclassified from accumulated other comprehensive (loss) income	0	0
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	5,439	(3,913)
Balance at end of period	(99,655)	(90,243)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(4,564)	(2,852)
Other comprehensive income (loss), Postemployment Benefits,	0	0
Net current-period other comprehensive income (loss), net of taxes, Postemployment benefits	51	(13)
Balance at end of period	(4,513)	(2,865)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(19,772)	(10,704)
Other comprehensive income (loss), Cash flow hedge	(13)	(1,643)
Net current-period other comprehensive income (loss), net of taxes, Cash flow hedge	2,019	(1,321)
Balance at end of period	(17,753)	(12,025)
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(129,430)	(99,886)
Other comprehensive income (loss), Total accumulated other comprehensive income (loss)	5,426	(5,556)
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	7,509	(5,247)
Balance at end of period	$ (121,921)	$ (105,133)

Shareholders' Equity (Details)

Shareholders' Equity (Details) 1 - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Other comprehensive income (loss):
Foreign currency translation adjustments, before Tax	$ 5,554	$ (4,034)
Foreign currency translation adjustments, Tax	115	(121)
Foreign currency translation adjustments, Net of Tax	5,439	(3,913)
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	68	(17)
Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs, Tax	17	(4)
Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs, Net of Tax	51	(13)
Unrealized loss on cash flow hedge, before Tax	(17)	(2,180)
Unrealized loss on cash flow hedge, Tax	(4)	(537)
Unrealized loss on cash flow hedge, Net of Tax	(13)	(1,643)
Reclassification of interest from cash flow hedge into interest expense	2,690	427
Reclassification of interest from cash flow hedge into interest expense, Tax	658	(105)
Reclassification of interest from cash flow hedge into interest expense, Net of Tax	2,032	322
Other Comprehensive Income (Loss), before Tax	8,295	(5,804)
Other Comprehensive Income (Loss), Tax	786	(557)
Other Comprehensive Income (Loss), Net of Tax	$ 7,509	$ (5,247)

Shareholders' Equity (Textuals)

Shareholders' Equity (Textuals) (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	578	740

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Segment Reporting Information [Line Items]
Net sales	$ 747,807,000	$ 856,404,000
Operating income for reportable segments	52,308,000	61,166,000
Assets used in business	2,249,253,000	2,429,732,000	$ 2,283,551,000
Depreciation and amortization of property	5,352,000	5,223,000
Capital expenditures	3,597,000	4,946,000
Service Center Based Distribution Segment [Member]
Segment Reporting Information [Line Items]
Net sales	513,284,000	603,160,000
Operating income for reportable segments	49,901,000	60,360,000
Assets used in business	1,283,031,000	1,289,592,000
Depreciation and amortization of property	4,395,000	4,178,000
Capital expenditures	3,088,000	4,195,000
Fluid Power & Flow Control Segment [Member]
Segment Reporting Information [Line Items]
Net sales	234,523,000	253,244,000
Operating income for reportable segments	25,861,000	26,857,000
Assets used in business	966,222,000	1,140,140,000
Depreciation and amortization of property	957,000	1,045,000
Capital expenditures	509,000	751,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	747,807,000	856,404,000
Operating income for reportable segments	75,762,000	87,217,000
Depreciation and amortization of property	5,352,000	5,223,000
Capital expenditures	$ 3,597,000	$ 4,946,000

Segment Information (Details 1)

Segment Information (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	$ 52,308	$ 61,166
Adjustment for:
Intangible amortization	9,726	10,374
Corporate and other expense, net	13,728	15,677
Interest expense, net	7,653	10,059
Other income, net	(177)	0
Income before income taxes	44,832	51,107
Operating Segments [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	75,762	87,217
Service Center Based Distribution Segment [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	49,901	60,360
Adjustment for:
Intangible amortization	2,581	3,054
Fluid Power & Flow Control Segment [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	25,861	26,857
Adjustment for:
Intangible amortization	$ 7,145	$ 7,320

Segment Information (Details Te

Segment Information (Details Textuals) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Inventory, LIFO Reserve, Period Charge	$ 1,133	$ 358
Net sales	747,807	856,404
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	$ 7,496	$ 7,313

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Other Income and Expenses [Abstract]
Unrealized gain on assets held in rabbi trust for a non-qualified deferred compensation plan	$ (819)	$ (55)
Foreign currency transactions loss (gain)	416	(222)
Net other periodic post-employment benefits	71	(30)
Life insurance expense, net	177	300
Other, net	(22)	7
Total other income, net	$ (177)	$ 0