Applied Industrial (AIT) 10-Q 28 Oct 21 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2021	Oct. 15, 2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
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		38,457,425
Document and Entity Information [Abstract]
Entity Central Index Key	0000109563
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2022
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, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net sales	$ 891,681	$ 747,807
Cost of sales	636,341	532,026
Gross profit	255,340	215,781
Selling, distribution and administrative expense, including depreciation	180,726	163,473
Operating income	74,614	52,308
Interest expense, net	7,390	7,653
Other income, net	(312)	(177)
Income before income taxes	67,536	44,832
Income tax expense	14,567	10,048
Net income	$ 52,969	$ 34,784
Net income per share - basic	$ 1.38	$ 0.90
Net income per share - diluted	$ 1.36	$ 0.89
Weighted average common shares outstanding for basic computation	38,502	38,722
Dilutive effect of potential common shares	582	366
Weighted average common shares outstanding for diluted computation	39,084	39,088

Condensed Statements of Conso_2

Condensed Statements of Consolidated Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Net income per the condensed statements of consolidated income	$ 52,969	$ 34,784
Other comprehensive (loss) income, before tax:
Foreign currency translation adjustments	(7,182)	5,554
Post-employment benefits:
Reclassification of net actuarial losses and prior service cost into other income, net and included in net periodic pension costs	75	68
Unrealized gain (loss) on cash flow hedge	596	(17)
Reclassification of interest from cash flow hedge into interest expense	2,585	2,690
Total other comprehensive (loss) income, before tax	(3,926)	8,295
Income tax expense related to items of other comprehensive (loss) income	805	786
Other comprehensive (loss) income, net of tax	(4,731)	7,509
Comprehensive income, net of tax	$ 48,238	$ 42,293

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Current assets
Cash and cash equivalents	$ 247,313	$ 257,745
Accounts receivable, net	530,824	516,322
Inventories	377,978	362,547
Other current assets	54,452	59,961
Total current assets	1,210,567	1,196,575
Property, less accumulated depreciation of $208,991 and $204,326	113,813	115,589
Operating Lease, Right-of-Use Asset	94,476	87,111
Identifiable intangibles, net	274,410	279,628
Goodwill	562,791	560,077
Other assets	47,123	32,827
TOTAL ASSETS	2,303,180	2,271,807
Current liabilities
Accounts payable	210,987	208,162
Current portion of long-term debt	88,401	43,525
Compensation and related benefits	65,509	77,657
Other current liabilities	101,930	98,356
Total current liabilities	466,827	427,700
Long-term debt	730,307	784,855
Other liabilities	129,476	126,706
TOTAL LIABILITIES	1,326,610	1,339,261
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	179,574	177,014
Retained earnings	1,347,375	1,294,413
Treasury shares—at cost (15,756 and 15,697 shares, respectively)	462,556	455,789
Accumulated other comprehensive loss	(97,823)	(93,092)
TOTAL SHAREHOLDERS’ EQUITY	976,570	932,546
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	2,303,180	2,271,807
Cash, Cash Equivalents, and Short-term Investments	247,313	257,745
Accounts receivable, net	530,824	516,322
Inventory, Net	377,978	362,547
Other Assets, Current	54,452	59,961
Assets, Current	1,210,567	1,196,575
Property, less accumulated depreciation of $208,991 and $204,326	113,813	115,589
Operating Lease, Right-of-Use Asset	94,476	87,111
Intangible Assets, Net (Excluding Goodwill)	274,410	279,628
Goodwill	562,791	560,077
Other Assets, Noncurrent	$ 47,123	$ 32,827

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Noncurrent Assets:
Property, less accumulated depreciation	$ 208,991	$ 204,326
Shareholders’ Equity
Preferred stock, shares authorized	2,500
Common stock, shares authorized	80,000
Common stock, shares issued	54,213
Treasury shares	15,756	15,697

Condensed Statements of Conso_3

Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Net income	$ 52,969	$ 34,784
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	5,427	5,352
Amortization of intangibles	8,121	9,726
Amortization of stock options and appreciation rights	1,907	693
Other share-based compensation expense	1,563	677
Changes in operating assets and liabilities, net of acquisitions	(20,404)	24,559
Other, net	(941)	6,051
Net Cash provided by Operating Activities	48,642	81,842
Cash Flows from Investing Activities
Net cash paid for acquisitions, net of cash acquired	(7,094)	0
Cash payments for loans on company-owned life insurance	(14,835)	0
Property purchases	(3,621)	(3,597)
Proceeds from property sales	48	193
Net Cash used in Investing Activities	(25,502)	(3,404)
Cash Flows from Financing Activities
Long-term debt repayments	9,811	62,450
Payments for Repurchase of Common Stock	(6,537)	0
Payments for (Proceeds from) Derivative Instrument, Financing Activities	(1,644)	0
Dividends paid	(12,712)	(12,415)
Acquisition holdback payments	135	521
Taxes paid for shares withheld for equity awards	(1,141)	(1,797)
Net Cash used in Financing Activities	(31,980)	(77,183)
Effect of Exchange Rate Changes on Cash	(1,592)	1,254
(Decrease) Increase in Cash and Cash Equivalents	(10,432)	2,509
Cash and Cash Equivalents at Beginning of Period	257,745	268,551
Cash and Cash Equivalents at End of Period	$ 247,313	$ 271,060

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, 2020		38,710
Beginning balance at Jun. 30, 2020		$ 10,000				$ 176,492				$ 1,200,570	$ (414,090)				$ (129,430)	$ 843,542
Net income	$ 34,784															34,784
Other comprehensive (loss) income	$ 7,509														7,509	7,509
Cash Dividends per Common Share	$ 0.32
Cash dividends										(18)						(18)
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)	$ (985)	$ (593)
Exercise of stock appreciation rights and options												$ (12)
Performance share awards													$ 20
Restricted stock units														$ 96
Total Shareholders' Equity, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units																	$ (265)	$ (1,005)	$ (497)
Compensation expense						677	693									677	693
Other										15	(29)					(14)
Ending balance, shares at Sep. 30, 2020		38,760
Ending balance at Sep. 30, 2020		$ 10,000				176,007				1,235,351	(414,031)				(121,921)	885,406
Beginning balance, shares at Jun. 30, 2021		38,516
Beginning balance at Jun. 30, 2021	$ 932,546	$ 10,000				177,014				1,294,413	(455,789)				(93,092)	932,546
Net income	52,969															52,969
Other comprehensive (loss) income	$ (4,731)														(4,731)	(4,731)
Cash Dividends per Common Share	$ 0.33
Cash dividends										0						0
Purchases of common stock for treasury, Shares		(77)
Purchases of common stock for treasury, Amount											(6,537)					(6,537)
Exercise of stock appreciation rights and options, shares			3
Performance share awards, shares				5
Restricted stock units, shares					12
Additional Paid in Capital, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units							(116)	$ (222)	$ (572)
Exercise of stock appreciation rights and options												$ (8)
Performance share awards													$ (73)
Restricted stock units														$ (120)
Total Shareholders' Equity, Exercise of stock appreciation rights and options, Performance share awards, Restricted stock units																	(108)	$ (295)	$ (692)
Compensation expense						1,563	$ 1,907									1,563	$ 1,907
Other, Shares		(2)
Other										(7)	(45)					(52)
Ending balance, shares at Sep. 30, 2021		38,457
Ending balance at Sep. 30, 2021	$ 976,570	$ 10,000				$ 179,574				$ 1,347,375	$ (462,556)				$ (97,823)	$ 976,570

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2021
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, 2021, and the results of its operations and its cash flows for the three month periods ended September 30, 2021 and 2020, have been included. The condensed consolidated balance sheet as of June 30, 2021 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, 2021. Operating results for the three month period ended September 30, 2021 are not necessarily indicative of the results that may be expected for the remainder of the fiscal year ending June 30, 2022. 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.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition	3 Months Ended
	Sep. 30, 2021
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, 2021 and 2020. Other countries consist of Mexico, Australia, New Zealand, and Singapore. Three Months Ended September 30, 2021 2020 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Geographic Areas: United States $ 479,164 $ 285,044 $ 764,208 $ 415,242 $ 228,815 $ 644,057 Canada 74,566 — 74,566 56,896 — 56,896 Other countries 47,141 5,766 52,907 41,146 5,708 46,854 Total $ 600,871 $ 290,810 $ 891,681 $ 513,284 $ 234,523 $ 747,807 The following tables present the Company’s percentage of revenue by reportable segment and major customer industry for the three months ended September 30, 2021 and 2020: Three Months Ended September 30, 2021 2020 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total General Industry 34.6 % 38.9 % 35.9 % 36.0 % 39.4 % 37.0 % Industrial Machinery 10.3 % 29.0 % 16.4 % 9.4 % 26.7 % 14.9 % Metals 11.0 % 7.4 % 9.9 % 10.2 % 7.0 % 9.2 % Food 12.5 % 2.5 % 9.3 % 14.1 % 3.0 % 10.7 % Forest Products 10.4 % 2.5 % 7.8 % 10.8 % 2.9 % 8.3 % Chem/Petrochem 3.4 % 13.8 % 6.8 % 3.5 % 13.3 % 6.6 % Cement & Aggregate 8.5 % 1.1 % 6.1 % 7.7 % 1.1 % 5.6 % Oil & Gas 5.2 % 1.2 % 3.9 % 3.6 % 1.2 % 2.8 % Transportation 4.1 % 3.6 % 3.9 % 4.7 % 5.4 % 4.9 % 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, 2021 and 2020: Three Months Ended September 30, 2021 2020 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Power Transmission 37.7 % 10.1 % 28.7 % 37.7 % 7.6 % 28.3 % Fluid Power 12.7 % 37.6 % 20.8 % 13.1 % 39.1 % 21.3 % General Maintenance; Hose Products 20.6 % 18.8 % 20.0 % 20.2 % 13.8 % 18.1 % Bearings, Linear & Seals 29.0 % 0.4 % 19.7 % 29.0 % 0.4 % 20.0 % Specialty Flow Control — % 33.1 % 10.8 % — % 39.1 % 12.3 % 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, 2021 June 30, 2021 $ Change % Change Contract assets $ 14,563 $ 15,178 $ (615) (4.1) % 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, 2021
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 2022 Acquisitions On August 18, 2021, the Company acquired substantially all of the net assets of R.R. Floody Company (Floody), a Rockford, Illinois provider of high technology solutions for advanced factory automation. Floody is included in the Fluid Power & Flow Control segment. The purchase price for the acquisition was $8,094, net tangible assets acquired were $1,813, and intangible assets including goodwill were $6,281 based upon preliminary estimated fair values at the acquisition date, which are subject to adjustment. The purchase price includes $1,000 of acquisition holdback payments, which are included in other current liabilities and other liabilities on the consolidated balance sheet as of September 30, 2021, and which will be paid on the first and second 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. Fiscal 2021 Acquisitions On December 31, 2020, the Company acquired 100% of the outstanding shares of Gibson Engineering Company (Gibson), a Norwood, Massachusetts provider of automation products, services, and engineered solutions focused on machine vision, motion control, mobile and collaborative robotic solutions, intelligent sensors, and other related equipment. Gibson is included in the Fluid Power & Flow Control segment. The purchase price for the acquisition was $15,450, net tangible assets acquired were $1,030, and intangible assets including goodwill were $14,420 based upon estimated fair values at the acquisition date. The purchase price includes $1,938 of acquisition holdback payments, which are included in other current liabilities and other liabilities on the condensed consolidated balance sheet as of September 30, 2021, and which will be paid on the first and second anniversaries of the acquisition date with interest at a fixed rate of 1.0% 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 October 5, 2020, the Company acquired substantially all of the net assets of Advanced Control Solutions (ACS), which operates four locations in Georgia, Tennessee, and Alabama. ACS is 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. ACS is included in the Fluid Power & Flow Control segment. The purchase price for the acquisition was $17,867, net tangible assets acquired were $1,210, and intangible assets including goodwill were $16,657 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, 2021
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, 2021 and the three month period ended September 30, 2021 are as follows: Service Center Based Distribution Fluid Power & Flow Control Total Balance at June 30, 2020 $ 208,570 $ 332,024 $ 540,594 Goodwill acquired during the year — 15,757 15,757 Other, primarily currency translation 3,726 — 3,726 Balance at June 30, 2021 212,296 347,781 560,077 Goodwill acquired during the period — 3,267 3,267 Other, primarily currency translation (1,018) 465 (553) Balance at September 30, 2021 $ 211,278 $ 351,513 $ 562,791 The Company has eight (8) reporting units for which an annual goodwill impairment assessment was performed as of January 1, 2021. The Company concluded that seven (7) of the reporting units’ fair values exceeded their carrying amounts by at least 25% as of January 1, 2021. The fair value of the final reporting unit, which is comprised of the FCX Performance Inc. (FCX) operations, exceeded its carrying value by 14%. The FCX reporting unit has a goodwill balance of $309,012 as of September 30, 2021. 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, 2021 and June 30, 2021, accumulated goodwill impairment losses subsequent to fiscal year 2002 totaled $64,794 related to the Service Center Based Distribution segment and $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, 2021 Amount Accumulated Net Book Finite-Lived Identifiable Intangibles: Customer relationships $ 354,332 $ 149,454 $ 204,878 Trade names 105,621 39,349 66,272 Vendor relationships 11,414 10,018 1,396 Other 2,321 457 1,864 Total Identifiable Intangibles $ 473,688 $ 199,278 $ 274,410 June 30, 2021 Amount Accumulated Net Book Finite-Lived Identifiable Intangibles: Customer relationships $ 353,028 $ 143,862 $ 209,166 Trade names 104,780 37,626 67,154 Vendor relationships 11,469 9,859 1,610 Other 2,070 372 1,698 Total Identifiable Intangibles $ 471,347 $ 191,719 $ 279,628 Fully amortized amounts are written off. During the three month period ended September 30, 2021, 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 $ 1,884 20.0 Trade names 879 15.0 Other 251 6.5 Total Identifiable Intangibles $ 3,014 17.4 Identifiable intangible assets with finite lives are reviewed for impairment when changes in conditions indicate carrying value may not be recoverable. Estimated future amortization expense by fiscal year (based on the Company’s identifiable intangible assets as of September 30, 2021) for the next five years is as follows: $23,800 for the remainder of 2022, $30,000 for 2023, $26,300 for 2024, $24,100 for 2025, $22,400 for 2026 and $20,600 for 2027.

Debt Debt

Debt Debt	3 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	DEBT A summary of long-term debt, including the current portion, follows: September 30, 2021 June 30, 2021 Term Loan $ 540,500 $ 550,250 Trade receivable securitization facility 188,300 188,300 Series C notes 40,000 40,000 Series D notes 25,000 25,000 Series E notes 25,000 25,000 Other 786 846 Total debt $ 819,586 $ 829,396 Less: unamortized debt issuance costs 878 1,016 $ 818,708 $ 828,380 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, 2021 or June 30, 2021. Unused lines under this facility, net of outstanding letters of credit of $200 to secure certain insurance obligations, totaled $249,800 at September 30, 2021 and June 30, 2021, and were available to fund future acquisitions or other capital and operating requirements. The interest rate on the term loan was 1.88% as of September 30, 2021 and June 30, 2021. Additionally, the Company had letters of credit outstanding with separate banks, not associated with the revolving credit agreement, in the amount of $4,768 and $4,540 as of September 30, 2021 and June 30, 2021, 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”). On March 26, 2021, the Company amended the AR Securitization Facility to expand the eligible receivables, which increased the maximum availability to $250,000 and increased the fees on the AR Securitization Facility to 0.98% per year. 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 $250,000 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 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. The interest rate on the AR Securitization Facility as of September 30, 2021 and June 30, 2021 was 1.06% and 1.20%, respectively. The termination date of the AR Securitization is March 26, 2024. Unsecured Shelf Facility At September 30, 2021 and June 30, 2021, the Company had borrowings outstanding under its unsecured shelf facility agreement with Prudential Investment Management of $90,000. 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 had an original principal amount of $120,000, carry a fixed interest rate of 3.19%, and the remaining principal balance is due in July 2022. The "Series D" notes had an original principal amount of $50,000, carry a fixed interest rate of 3.21%, and the remaining principal balance is 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. Other Long-Term Borrowing

Derivatives Derivatives

Derivatives Derivatives	3 Months Ended
	Sep. 30, 2021
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

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Marketable securities measured at fair value at September 30, 2021 and June 30, 2021 totaled $16,880 and $16,844, 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, 2021 and June 30, 2021, 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, 2021
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, 2021 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at June 30, 2021 $ (80,838) $ (3,673) $ (8,581) $ (93,092) Other comprehensive (loss) income (7,188) — 450 (6,738) Amounts reclassified from accumulated other comprehensive (loss) income — 57 1,950 2,007 Net current-period other comprehensive (loss) income (7,188) 57 2,400 (4,731) Balance at September 30, 2021 $ (88,026) $ (3,616) $ (6,181) $ (97,823) 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) Other Comprehensive (Loss) Income Details of other comprehensive (loss) income are as follows: Three Months Ended September 30, 2021 2020 Pre-Tax Amount Tax Expense Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ (7,182) $ 6 $ (7,188) $ 5,554 $ 115 $ 5,439 Post-employment benefits: Reclassification of net actuarial losses and prior service cost into other income, net and included in net periodic pension costs 75 18 57 68 17 51 Unrealized gain (loss) on cash flow hedge 596 146 450 (17) (4) (13) Reclassification of interest from cash flow hedge into interest expense 2,585 635 1,950 2,690 658 2,032 Other comprehensive (loss) income $ (3,926) $ 805 $ (4,731) $ 8,295 $ 786 $ 7,509 Anti-dilutive Common Stock Equivalents

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2021
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 $3,571 and $1,133 in the three months ended September 30, 2021 and 2020, respectively, is recorded in cost of sales in the condensed statements of income, and is included in operating income for the related reportable segment, as the Company allocates LIFO expense between the segments. Intercompany sales, primarily from the Fluid Power & Flow Control segment to the Service Center Based Distribution segment, of $8,132 and $7,496, in the three months ended September 30, 2021 and 2020, 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, 2021 Net sales $ 600,871 $ 290,810 $ 891,681 Operating income for reportable segments 64,653 34,805 99,458 Assets used in business 1,349,654 953,526 2,303,180 Depreciation and amortization of property 4,379 1,048 5,427 Capital expenditures 3,097 524 3,621 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 A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows: Three Months Ended September 30, 2021 2020 Operating income for reportable segments $ 99,458 $ 75,762 Adjustment for: Intangible amortization—Service Center Based Distribution 892 2,581 Intangible amortization—Fluid Power & Flow Control 7,229 7,145 Corporate and other expense, net 16,723 13,728 Total operating income 74,614 52,308 Interest expense, net 7,390 7,653 Other income, net (312) (177) Income before income taxes $ 67,536 $ 44,832 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, 2021
Other Income and Expenses [Abstract]
OTHER INCOME, NET	OTHER INCOME, NET Other income, net consists of the following: Three Months Ended September 30, 2021 2020 Unrealized loss (gain) on assets held in rabbi trust for a non-qualified deferred compensation plan $ 91 $ (819) Foreign currency transactions (gain) loss (567) 416 Net other periodic post-employment benefits 152 71 Life insurance (income) expense, net (41) 177 Other, net 53 (22) Total other income, net $ (312) $ (177)

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events	3 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events [Text Block]	11. SUBSEQUENT EVENTS We have evaluated events and transactions occurring subsequent to September 30, 2021 through the date the financial statements were issued.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 2021
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.

Revenue Recognition Revenue R_2

Revenue Recognition Revenue Recognition (Tables)	3 Months Ended
	Sep. 30, 2021
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, 2021 and 2020. Other countries consist of Mexico, Australia, New Zealand, and Singapore. Three Months Ended September 30, 2021 2020 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Geographic Areas: United States $ 479,164 $ 285,044 $ 764,208 $ 415,242 $ 228,815 $ 644,057 Canada 74,566 — 74,566 56,896 — 56,896 Other countries 47,141 5,766 52,907 41,146 5,708 46,854 Total $ 600,871 $ 290,810 $ 891,681 $ 513,284 $ 234,523 $ 747,807
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, 2021 and 2020: Three Months Ended September 30, 2021 2020 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total General Industry 34.6 % 38.9 % 35.9 % 36.0 % 39.4 % 37.0 % Industrial Machinery 10.3 % 29.0 % 16.4 % 9.4 % 26.7 % 14.9 % Metals 11.0 % 7.4 % 9.9 % 10.2 % 7.0 % 9.2 % Food 12.5 % 2.5 % 9.3 % 14.1 % 3.0 % 10.7 % Forest Products 10.4 % 2.5 % 7.8 % 10.8 % 2.9 % 8.3 % Chem/Petrochem 3.4 % 13.8 % 6.8 % 3.5 % 13.3 % 6.6 % Cement & Aggregate 8.5 % 1.1 % 6.1 % 7.7 % 1.1 % 5.6 % Oil & Gas 5.2 % 1.2 % 3.9 % 3.6 % 1.2 % 2.8 % Transportation 4.1 % 3.6 % 3.9 % 4.7 % 5.4 % 4.9 % 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, 2021 and 2020: Three Months Ended September 30, 2021 2020 Service Center Based Distribution Fluid Power & Flow Control Total Service Center Based Distribution Fluid Power & Flow Control Total Power Transmission 37.7 % 10.1 % 28.7 % 37.7 % 7.6 % 28.3 % Fluid Power 12.7 % 37.6 % 20.8 % 13.1 % 39.1 % 21.3 % General Maintenance; Hose Products 20.6 % 18.8 % 20.0 % 20.2 % 13.8 % 18.1 % Bearings, Linear & Seals 29.0 % 0.4 % 19.7 % 29.0 % 0.4 % 20.0 % Specialty Flow Control — % 33.1 % 10.8 % — % 39.1 % 12.3 % 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, 2021 June 30, 2021 $ Change % Change Contract assets $ 14,563 $ 15,178 $ (615) (4.1) % 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, 2021
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, 2021 and the three month period ended September 30, 2021 are as follows: Service Center Based Distribution Fluid Power & Flow Control Total Balance at June 30, 2020 $ 208,570 $ 332,024 $ 540,594 Goodwill acquired during the year — 15,757 15,757 Other, primarily currency translation 3,726 — 3,726 Balance at June 30, 2021 212,296 347,781 560,077 Goodwill acquired during the period — 3,267 3,267 Other, primarily currency translation (1,018) 465 (553) Balance at September 30, 2021 $ 211,278 $ 351,513 $ 562,791
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, 2021 Amount Accumulated Net Book Finite-Lived Identifiable Intangibles: Customer relationships $ 354,332 $ 149,454 $ 204,878 Trade names 105,621 39,349 66,272 Vendor relationships 11,414 10,018 1,396 Other 2,321 457 1,864 Total Identifiable Intangibles $ 473,688 $ 199,278 $ 274,410 June 30, 2021 Amount Accumulated Net Book Finite-Lived Identifiable Intangibles: Customer relationships $ 353,028 $ 143,862 $ 209,166 Trade names 104,780 37,626 67,154 Vendor relationships 11,469 9,859 1,610 Other 2,070 372 1,698 Total Identifiable Intangibles $ 471,347 $ 191,719 $ 279,628 Fully amortized amounts are written off.
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	During the three month period ended September 30, 2021, 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 $ 1,884 20.0 Trade names 879 15.0 Other 251 6.5 Total Identifiable Intangibles $ 3,014 17.4

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2021
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, 2021 Foreign currency translation adjustment Post-employment benefits Cash flow hedge Total Accumulated other comprehensive (loss) income Balance at June 30, 2021 $ (80,838) $ (3,673) $ (8,581) $ (93,092) Other comprehensive (loss) income (7,188) — 450 (6,738) Amounts reclassified from accumulated other comprehensive (loss) income — 57 1,950 2,007 Net current-period other comprehensive (loss) income (7,188) 57 2,400 (4,731) Balance at September 30, 2021 $ (88,026) $ (3,616) $ (6,181) $ (97,823) 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)
Schedule of Comprehensive Income (Loss) [Table Text Block]	Other Comprehensive (Loss) Income Details of other comprehensive (loss) income are as follows: Three Months Ended September 30, 2021 2020 Pre-Tax Amount Tax Expense Net Amount Pre-Tax Amount Tax Expense (Benefit) Net Amount Foreign currency translation adjustments $ (7,182) $ 6 $ (7,188) $ 5,554 $ 115 $ 5,439 Post-employment benefits: Reclassification of net actuarial losses and prior service cost into other income, net and included in net periodic pension costs 75 18 57 68 17 51 Unrealized gain (loss) on cash flow hedge 596 146 450 (17) (4) (13) Reclassification of interest from cash flow hedge into interest expense 2,585 635 1,950 2,690 658 2,032 Other comprehensive (loss) income $ (3,926) $ 805 $ (4,731) $ 8,295 $ 786 $ 7,509

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment financial information	Three Months Ended Service Center Based Distribution Fluid Power & Flow Control Total September 30, 2021 Net sales $ 600,871 $ 290,810 $ 891,681 Operating income for reportable segments 64,653 34,805 99,458 Assets used in business 1,349,654 953,526 2,303,180 Depreciation and amortization of property 4,379 1,048 5,427 Capital expenditures 3,097 524 3,621 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
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, 2021 2020 Operating income for reportable segments $ 99,458 $ 75,762 Adjustment for: Intangible amortization—Service Center Based Distribution 892 2,581 Intangible amortization—Fluid Power & Flow Control 7,229 7,145 Corporate and other expense, net 16,723 13,728 Total operating income 74,614 52,308 Interest expense, net 7,390 7,653 Other income, net (312) (177) Income before income taxes $ 67,536 $ 44,832

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
	Sep. 30, 2021
Other Income and Expenses [Abstract]
Other (income) expense, net	Other income, net consists of the following: Three Months Ended September 30, 2021 2020 Unrealized loss (gain) on assets held in rabbi trust for a non-qualified deferred compensation plan $ 91 $ (819) Foreign currency transactions (gain) loss (567) 416 Net other periodic post-employment benefits 152 71 Life insurance (income) expense, net (41) 177 Other, net 53 (22) Total other income, net $ (312) $ (177)

Revenue Recognition Revenue R_3

Revenue Recognition Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 891,681	$ 747,807
UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	764,208	644,057
CANADA
Disaggregation of Revenue [Line Items]
Net sales	74,566	56,896
Other Countries [Member]
Disaggregation of Revenue [Line Items]
Net sales	52,907	46,854
Service Center Based Distribution Segment [Member]
Disaggregation of Revenue [Line Items]
Net sales	600,871	513,284
Service Center Based Distribution Segment [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	479,164	415,242
Service Center Based Distribution Segment [Member] | CANADA
Disaggregation of Revenue [Line Items]
Net sales	74,566	56,896
Service Center Based Distribution Segment [Member] | Other Countries [Member]
Disaggregation of Revenue [Line Items]
Net sales	47,141	41,146
Fluid Power & Flow Control Segment [Member]
Disaggregation of Revenue [Line Items]
Net sales	290,810	234,523
Fluid Power & Flow Control Segment [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	285,044	228,815
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	$ 5,766	$ 5,708

Revenue Recognition Revenue R_4

Revenue Recognition Revenue Recognition (Details 1)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
General Industry [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	35.90%	37.00%
Industrial Machinery [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	16.40%	14.90%
Metals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	9.90%	9.20%
Food [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	9.30%	10.70%
Forest Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	7.80%	8.30%
Chem/Petrochem [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	6.80%	6.60%
Cement & Aggregate [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	6.10%	5.60%
Oil & Gas [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	3.90%	2.80%
Transportation [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	3.90%	4.90%
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	34.60%	36.00%
Service Center Based Distribution Segment [Member] | Industrial Machinery [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	10.30%	9.40%
Service Center Based Distribution Segment [Member] | Metals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	11.00%	10.20%
Service Center Based Distribution Segment [Member] | Food [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	12.50%	14.10%
Service Center Based Distribution Segment [Member] | Forest Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	10.40%	10.80%
Service Center Based Distribution Segment [Member] | Chem/Petrochem [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	3.40%	3.50%
Service Center Based Distribution Segment [Member] | Cement & Aggregate [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	8.50%	7.70%
Service Center Based Distribution Segment [Member] | Oil & Gas [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	5.20%	3.60%
Service Center Based Distribution Segment [Member] | Transportation [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	4.10%	4.70%
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	38.90%	39.40%
Fluid Power & Flow Control Segment [Member] | Industrial Machinery [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	29.00%	26.70%
Fluid Power & Flow Control Segment [Member] | Metals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	7.40%	7.00%
Fluid Power & Flow Control Segment [Member] | Food [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	2.50%	3.00%
Fluid Power & Flow Control Segment [Member] | Forest Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	2.50%	2.90%
Fluid Power & Flow Control Segment [Member] | Chem/Petrochem [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	13.80%	13.30%
Fluid Power & Flow Control Segment [Member] | Cement & Aggregate [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	1.10%	1.10%
Fluid Power & Flow Control Segment [Member] | Oil & Gas [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	1.20%	1.20%
Fluid Power & Flow Control Segment [Member] | Transportation [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Customer Industry, Percent	3.60%	5.40%
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, 2021	Sep. 30, 2020
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	28.70%	28.30%
Fluid Power [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	20.80%	21.30%
General Maintenance; Hose Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	20.00%	18.10%
Bearings, Linear & Seals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	19.70%	20.00%
Specialty Flow Control [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	10.80%	12.30%
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%	37.70%
Service Center Based Distribution Segment [Member] | Fluid Power [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	12.70%	13.10%
Service Center Based Distribution Segment [Member] | General Maintenance; Hose Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	20.60%	20.20%
Service Center Based Distribution Segment [Member] | Bearings, Linear & Seals [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	29.00%	29.00%
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	10.10%	7.60%
Fluid Power & Flow Control Segment [Member] | Fluid Power [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	37.60%	39.10%
Fluid Power & Flow Control Segment [Member] | General Maintenance; Hose Products [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	18.80%	13.80%
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%
Fluid Power & Flow Control Segment [Member] | Specialty Flow Control [Domain]
Disaggregation of Revenue [Line Items]
Disaggregated Revenue by Product Line, Percent	33.10%	39.10%

Revenue Recognition Revenue R_6

Revenue Recognition Revenue Recognition (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract Assets	$ 14,563	$ 15,178
Contract Assets Period $ Change	$ (615)
Contract Assets Period % Change	(4.10%)

Business Combinations Business

Business Combinations Business Combinations Textuals (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Aug. 18, 2021	Dec. 31, 2020	Oct. 05, 2020
RR Floody
Total Consideration	$ 8,094
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			$ 1,813
Intangible Assets, Net (Including Goodwill)			$ 6,281
Funding from Holdback Payments	1,000
Debt Instrument, Interest Rate, Stated Percentage			2.00%
Gibson
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Total Consideration		$ 15,450
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net				$ 1,030
Intangible Assets, Net (Including Goodwill)				$ 14,420
Funding from Holdback Payments	$ 1,938
Debt Instrument, Interest Rate, Stated Percentage				1.00%
ACS
Total Consideration		$ 17,867
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					$ 1,210
Intangible Assets, Net (Including Goodwill)					$ 16,657

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Changes in the carrying amount of goodwill by reportable segment
Balance at beginning of period	$ 560,077	$ 540,594
Goodwill acquired during the period	3,267	15,757
Other, primarily currency translation	(553)	3,726
Balance at September 30, 2021	562,791	560,077
Service Center Based Distribution Segment [Member]
Changes in the carrying amount of goodwill by reportable segment
Balance at beginning of period	212,296	208,570
Goodwill acquired during the period	0	0
Other, primarily currency translation	(1,018)	3,726
Balance at September 30, 2021	211,278	212,296
Fluid Power & Flow Control Segment [Member]
Changes in the carrying amount of goodwill by reportable segment
Balance at beginning of period	347,781	332,024
Goodwill acquired during the period	3,267	15,757
Other, primarily currency translation	465	0
Balance at September 30, 2021	$ 351,513	$ 347,781

Goodwill and Intangibles (Det_2

Goodwill and Intangibles (Details 1) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Amortization details resulting from business combinations
Amount	$ 473,688	$ 471,347
Accumulated Amortization	199,278	191,719
Net Book Value	274,410	279,628
Customer relationships
Amortization details resulting from business combinations
Amount	354,332	353,028
Accumulated Amortization	149,454	143,862
Net Book Value	204,878	209,166
Trade names
Amortization details resulting from business combinations
Amount	105,621	104,780
Accumulated Amortization	39,349	37,626
Net Book Value	66,272	67,154
Vendor relationships
Amortization details resulting from business combinations
Amount	11,414	11,469
Accumulated Amortization	10,018	9,859
Net Book Value	1,396	1,610
Other Intangible Assets
Amortization details resulting from business combinations
Amount	2,321	2,070
Accumulated Amortization	457	372
Net Book Value	$ 1,864	$ 1,698

Goodwill and Intangibles (Det_3

Goodwill and Intangibles (Details 2) $ in Thousands	3 Months Ended
	Sep. 30, 2021USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 3,014
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	17 years 4 months 24 days
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 1,884
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	$ 879
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	$ 251
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 years 6 months

Goodwill and Intangibles (Det_4

Goodwill and Intangibles (Details Textuals) $ in Thousands	3 Months Ended
	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jan. 01, 2021	Jun. 30, 2020USD ($)
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			25.00%
Goodwill	$ 562,791	$ 560,077		$ 540,594
Goodwill and Intangibles (Textuals) [Abstract]
Amortization expense for the remainder of 2022	23,800
Amortization expense for 2023	30,000
Amortization expense for 2024	26,300
Amortization expense for 2025	24,100
Amortization expense for 2026	22,400
Amortization expense for 2027	20,600
Service Center Based Distribution Segment [Member]
Goodwill [Line Items]
Goodwill	211,278	212,296		208,570
Accumulated goodwill impairment losses	64,794
Fluid Power & Flow Control Segment [Member]
Goodwill [Line Items]
Goodwill	351,513	$ 347,781		$ 332,024
Accumulated goodwill impairment losses	167,605
FCX Performance, Inc
Goodwill [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount			14.00%
Goodwill	$ 309,012

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Long-term Debt Instruments [Line Items]
Total debt	$ 819,586	$ 829,396
Less: unamortized debt issuance costs	878	1,016
Debt, Long-term and Short-term, Combined Amount	818,708	828,380
Long-term Debt [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	540,500	550,250
Asset-backed Securities, Securitized Loans and Receivables [Member]
Long-term Debt Instruments [Line Items]
Trade receivable securitization facility	188,300	188,300
Prudential Facility - Series C [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	40,000	40,000
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
State of Ohio Assumed Debt [Member]
Long-term Debt Instruments [Line Items]
Long-term Debt	$ 786	$ 846

Debt (Textuals) (Details)

Debt (Textuals) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Long-term Debt Instruments [Line Items]
Letters of Credit Outstanding, Amount	$ 4,768,000	$ 4,540,000
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	200,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 249,800,000
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, Percentage Bearing Variable Interest, Percentage Rate	1.88%
Long-term Debt	$ 540,500,000	$ 550,250,000
Asset-backed Securities, Securitized Loans and Receivables [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Face Amount	$ 250,000,000
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	1.06%	1.20%
Debt Instrument, Fee	$ 0.0098
Prudential Facility [Domain]
Long-term Debt Instruments [Line Items]
Long-term Debt	$ 90,000,000
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	$ 40,000,000	$ 40,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.19%
Prudential Facility - Series D [Member]
Long-term Debt Instruments [Line Items]
Debt Instrument, Face Amount	$ 50,000,000
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]
Debt Instrument, Face Amount	$ 25,000,000
Long-term Debt		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	$ 786,000	$ 846,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	1.50%

Derivatives Derivatives (Detail

Derivatives Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
Derivative [Line Items]
Derivative, Amount of Hedged Item	$ 420,000		$ 463,000
Derivative, Fixed Interest Rate	1.63%	2.61%
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 12,671		$ 14,346
Derivative, Variable Interest Rate	3.38%
Reclassification of interest from cash flow hedge into interest expense	$ 2,585	$ 2,690

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Level 1 [Member] | Recurring [Member]
Fair Value Measurements (Textuals) [Line Items]
Marketable securities	$ 16,880	$ 16,844

Shareholders' Equity Accumulate

Shareholders' Equity Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (93,092)
Other comprehensive income (loss), Cash flow hedge	450	$ (13)
Amounts reclassified from accumulated other comprehensive (loss) income, Cash flow hedge	1,950	2,032
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	(7,188)	5,439
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	(4,731)	7,509
Balance at end of period	(97,823)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive (loss) income	2,007	2,083
Amounts reclassified from accumulated other comprehensive (loss) income, Postemployment benefits	57	51
Amounts reclassified from accumulated other comprehensive (loss) income, Cash flow hedge	1,950	2,032
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(80,838)	(105,094)
Other comprehensive income (loss), Foreign Currency Translation Adjustment	(7,188)	5,439
Amounts reclassified from accumulated other comprehensive (loss) income	0	0
Net current-period other comprehensive income (loss), net of taxes, Foreign Currency Translation Adjustment	(7,188)	5,439
Balance at end of period	(88,026)	(99,655)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(3,673)	(4,564)
Other comprehensive income (loss), Postemployment Benefits,	0	0
Net current-period other comprehensive income (loss), net of taxes, Postemployment benefits	57	51
Balance at end of period	(3,616)	(4,513)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(8,581)	(19,772)
Other comprehensive income (loss), Cash flow hedge	450	(13)
Net current-period other comprehensive income (loss), net of taxes, Cash flow hedge	2,400	2,019
Balance at end of period	(6,181)	(17,753)
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(93,092)	(129,430)
Other comprehensive income (loss), Total accumulated other comprehensive income (loss)	(6,738)	5,426
Net current-period other comprehensive income (loss), net of taxes, Total accumulated other comprehensive income (loss)	(4,731)	7,509
Balance at end of period	$ (97,823)	$ (121,921)

Shareholders' Equity (Details)

Shareholders' Equity (Details) 1 - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Other comprehensive income (loss):
Foreign currency translation adjustments, before Tax	$ (7,182)	$ 5,554
Foreign currency translation adjustments, Tax	6	115
Foreign currency translation adjustments, Net of Tax	(7,188)	5,439
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	75	68
Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs, Tax	18	17
Reclassification of net actuarial gains and prior service cost into other income, net and included in net periodic pension costs, Net of Tax	57	51
Unrealized loss on cash flow hedge, before Tax	596	(17)
Unrealized loss on cash flow hedge, Tax	146	(4)
Unrealized loss on cash flow hedge, Net of Tax	450	(13)
Reclassification of interest from cash flow hedge into interest expense	2,585	2,690
Reclassification of interest from cash flow hedge into interest expense, Tax	635	658
Reclassification of interest from cash flow hedge into interest expense, Net of Tax	1,950	2,032
Other Comprehensive Income (Loss), before Tax	(3,926)	8,295
Other Comprehensive Income (Loss), Tax	805	786
Other Comprehensive Income (Loss), Net of Tax	$ (4,731)	$ 7,509

Shareholders' Equity (Textuals)

Shareholders' Equity (Textuals) (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	109	578

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 891,681,000	$ 747,807,000
Operating income for reportable segments	74,614,000	52,308,000
Assets used in business	2,303,180,000	2,249,253,000	$ 2,271,807,000
Depreciation and amortization of property	5,427,000	5,352,000
Capital expenditures	3,621,000	3,597,000
Service Center Based Distribution Segment [Member]
Segment Reporting Information [Line Items]
Net sales	600,871,000	513,284,000
Operating income for reportable segments	64,653,000	49,901,000
Assets used in business	1,349,654,000	1,283,031,000
Depreciation and amortization of property	4,379,000	4,395,000
Capital expenditures	3,097,000	3,088,000
Fluid Power & Flow Control Segment [Member]
Segment Reporting Information [Line Items]
Net sales	290,810,000	234,523,000
Operating income for reportable segments	34,805,000	25,861,000
Assets used in business	953,526,000	966,222,000
Depreciation and amortization of property	1,048,000	957,000
Capital expenditures	524,000	509,000
Reportable Segments
Segment Reporting Information [Line Items]
Operating income for reportable segments	$ 99,458,000	$ 75,762,000

Segment Information (Details 1)

Segment Information (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	$ 74,614	$ 52,308
Adjustment for:
Intangible amortization	8,121	9,726
Corporate and other expense, net	16,723	13,728
Interest expense, net	7,390	7,653
Other income, net	(312)	(177)
Income before income taxes	67,536	44,832
Reportable Segments
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	99,458	75,762
Service Center Based Distribution Segment [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	64,653	49,901
Adjustment for:
Intangible amortization	892	2,581
Fluid Power & Flow Control Segment [Member]
Reconciliation of operating income for reportable segments to the consolidated income before income taxes
Total operating income	34,805	25,861
Adjustment for:
Intangible amortization	$ 7,229	$ 7,145

Segment Information (Details Te

Segment Information (Details Textuals) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Inventory, LIFO Reserve, Period Charge	$ 3,571	$ 1,133
Net sales	891,681	747,807
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	$ 8,132	$ 7,496

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Other Income and Expenses [Abstract]
Unrealized loss (gain) on assets held in rabbi trust for a non-qualified deferred compensation plan	$ 91	$ (819)
Foreign currency transactions (gain) loss	(567)	416
Net other periodic post-employment benefits	152	71
Life insurance (income) expense, net	(41)	177
Other, net	53	(22)
Total other income, net	$ (312)	$ (177)