Significant Accounting Policies [Text Block] | 1. Basis of Presentation and Consolidation Standex International Corporation (“Standex” or the “Company”) is a diversified manufacturing company with operations in the United States, Europe, Asia, Africa, and Latin America. The accompanying consolidated financial statements include the accounts of Standex International Corporation and its subsidiaries and are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany accounts and transactions have been eliminated in consolidation. The Company considers events or transactions that occur after the balance sheet date, but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. We evaluated subsequent events through the date and time our consolidated financial statements were issued. Accounting Estimates The preparation of consolidated financial statements in conformity with GAAP requires the use of estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities at the date of the financial statements and for the period then ended. Estimates are based on historical experience, actuarial estimates, current conditions and various other assumptions that are believed to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities when they are not may Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments purchased with a maturity of three June 30, 2017 2016, Trading Securities The Company purchases investments for its non-qualified defined contribution plan for employees who exceed certain thresholds under our traditional 401 $2.4 June 30, 2017 $2.3 June 30, 2016. Accounts Receivable Allowances The Company has provided an allowance for doubtful accounts reserve which represents the best estimate of probable loss inherent in the Company’s account receivables portfolio. This estimate is derived from the Company’s knowledge of its end markets, customer base, products, and historical experience. The changes in the allowances for uncollectible accounts during 2017, 2016, 2015 2017 2016 2015 Balance at beginning of year $ 2,119 $ 2,226 $ 2,282 Acquisitions and other 52 3 4 Provision charged to expense 416 8 496 Write-offs, net of recoveries (181 ) (118 ) (556 ) Balance at end of year $ 2,406 $ 2,119 $ 2,226 Inventories Inventories are stated at the lower of ( first first Long-Lived Assets Long-lived assets that are used in operations, excluding goodwill and identifiable intangible assets, are tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not Property, Plant and Equipment Property, plant and equipment are reported at cost less accumulated depreciation. Depreciation is recorded on assets over their estimated useful lives, generally using the straight-line method. Lives for property, plant and equipment are as follows (in years): Buildings 40 to 50 Leasehold improvements Lesser of useful life or term, unless renewals are deemed to be reasonably assured Machinery and equipment 8 to 15 Furniture and Fixtures 3 to 10 Computer hardware and software 3 to 7 Routine maintenance costs are expensed as incurred. Major improvements are capitalized. Major improvements to leased buildings are capitalized as leasehold improvements and depreciated over the lesser of the lease term or the life of the improvement. Amortization of computer hardware and software of $0.6 $0.6 $0.5 June 30, 2017, 2016, 2015, Goodwill and Identifiable Intangible Assets All business combinations are accounted for using the acquisition method. Goodwill and identifiable intangible assets with indefinite lives, are not not Customer relationships 5 to 16 Patents 12 Non-compete agreements 5 to 10 Other 10 Developed technology 15 Trade names Indefinite life See discussion of the Company’s assessment of impairment in Note 5 6 Fair Value of Financial Instruments The financial instruments, shown below, are presented at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. When observable prices or inputs are not may Assets and liabilities recorded at fair value in the consolidated balance sheet are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Hierarchical levels directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities and the methodologies used in valuation are as follows: Level 1 17 Level 2 17 The Company has considered the creditworthiness of counterparties in valuing all assets and liabilities. Level 3 We did not June 30, 2017 2016. Cash and cash equivalents, accounts receivable, accounts payable and debt are carried at cost, which approximates fair value. The fair values of our financial instruments at June 30, 2017 2016 201 7 Total Level 1 Level 2 Level 3 Financial Assets Marketable securities - deferred compensation plan $ 2,397 $ 2,397 $ - $ - Foreign exchange contracts 399 - 399 - Interest rate swaps 3,777 - 3,777 - Financial Liabilities Foreign exchange contracts $ 3,232 $ - $ 3,232 $ - Interest rate swaps 3,958 - 3,958 - Contingent acquisition payments (a) 2,108 - - 2,108 201 6 Total Level 1 Level 2 Level 3 Financial Assets Marketable securities - deferred compensation plan $ 2,333 $ 2,333 $ - $ - Foreign exchange contracts 11 - 11 - Financial Liabilities Foreign exchange contracts $ 94 $ - $ 94 $ - Interest rate swaps 1,038 - 1,038 - (a) The fair value of our contingent consideration arrangement is determined based on our evaluation as to the probability and amount of any deferred compensation that has been earned to date. Our financial liabilities based upon Level 3 second third Contingent acquisition payment liabilities are scheduled to be paid in periods through fiscal year 2020. June 30, 2017, $8.4 not 3 June 30, 2017, Concentration of Credit Risk The Company is subject to credit risk through trade receivables and short-term cash investments. Concentration of risk with respect to trade receivables is minimized because of the diversification of our operations, as well as our large customer base and our geographical dispersion. No 5% Short-term cash investments are placed with high credit-quality financial institutions. The Company monitors the amount of credit exposure in any one Revenue Recognition The Company’s product sales are recorded when persuasive evidence of an arrangement exists, delivery has occurred, the price to the buyer is fixed or determinable, and collectability is reasonably assured. For products that include installation, and if the installation meets the criteria to be considered a separate element, product revenue is recognized upon delivery, and installation revenue is recognized when the installation is complete. Revenues under certain fixed price contracts are generally recorded when deliveries are made. Sales and estimated profits under certain long-term contracts are recognized under the percentage-of-completion methods of accounting, whereby profits are recorded pro rata, based upon current estimates of costs to complete such contracts. Losses on contracts are fully recognized in the period in which the losses become determinable. Revisions in profit estimates are reflected on a cumulative basis in the period in which the basis for such revision becomes known. Any excess of the billings over cost and estimated earnings on long-term contracts is included in deferred revenue. Cost of Goods Sold and Selling, General and Administrative Expenses The Company includes expenses in either cost of goods sold or selling, general and administrative categories based upon the natural classification of the expenses. Cost of goods sold includes expenses associated with the acquisition, inspection, manufacturing and receiving of materials for use in the manufacturing process. These costs include inbound freight charges, purchasing and receiving costs, inspection costs, internal transfer costs as well as depreciation, amortization, wages, benefits and other costs that are incurred directly or indirectly to support the manufacturing process. Selling, general and administrative includes expenses associated with the distribution of our products, sales effort, administration costs and other costs that are not may not The Company purchased $2.4 $3.3 $2.1 20% June 30, 2017, 2016, 2015 not Our total advertising expenses, which are classified under selling, general, and administrative expenses are primarily related to trade shows, and totaled $5.1 $4.3 $5.0 June 30 , 2017, 2016, 2015, Research and Development Research and development expenditures are expensed as incurred. Total research and development costs, which are classified under selling, general, and administrative expenses, were $5.5 $4.9 $4.1 June 30 , 2017, 2016, 2015, Warranties The expected cost associated with warranty obligations on our products is recorded when the revenue is recognized. The Company’s estimate of warranty cost is based on contract terms and historical warranty loss experience that is periodically adjusted for recent actual experience. Since warranty estimates are forecasts based on the best available information, claims costs may The changes in continuing operations warranty reserve, which are recorded as accrued liabilities, during 2017, 2016, 2015 201 7 201 6 201 5 Balance at beginning of year $ 9,085 $ 7,436 $ 6,941 Acquisitions and other charges 301 (5 ) 3 Warranty expense 9,203 13,503 11,086 Warranty claims (9,346 ) (11,849 ) (10,594 ) Balance at end of year $ 9,243 $ 9,085 $ 7,436 The decrease in warranty expense during 2017 2016 2015. Stock-Based Compensation Plans Restricted stock awards generally vest over a three Foreign Currency Translation The functional currency of our non-U.S. operations is generally the local currency. Assets and liabilities of non-U.S. operations are translated into U.S. Dollars on a monthly basis using period-end exchange rates. Revenues and expenses of these operations are translated using average exchange rates. The resulting translation adjustment is reported as a component of comprehensive income (loss) in the consolidated statements of stockholders’ equity and comprehensive income. Gains and losses from foreign currency transactions are included in results of operations and were not Derivative Instruments and Hedging Activities The Company recognizes all derivatives on its balance sheet at fair value. Forward foreign currency exchange contracts are periodically used to limit the impact of currency fluctuations on certain anticipated foreign cash flows, such as foreign purchases of materials and loan payments from subsidiaries. The Company enters into such contracts for hedging purposes only. The Company has designated certain of these currency contracts as hedges, and changes in the fair value of these contracts are recognized in other comprehensive income until the hedged items are recognized in earnings. Hedge ineffectiveness, if any, associated with these contracts will be reported in net income. The Company also uses interest rate swaps to manage exposure to interest rates on the Company’s variable rate indebtedness. The Company values the swaps based on contract prices in the derivatives market for similar instruments. The Company has designated its interest rate swap agreements, including those that are forward-dated, as cash flow hedges, and changes in the fair value of the swaps are recognized in other comprehensive income until the hedged items are recognized in earnings. Hedge ineffectiveness, if any, associated with the swaps will be reported by the Company in interest expense. The Company does not Income Taxes The Company's income tax provision from continuing operations for the fiscal year ended June 30, 2017 $15.4 24.8%, $16.3 23.8% June 30, 2016, $20.9 27.4% June 30, 2015. may not one The Company's income tax provision from continuing operations for the fiscal year ended June 30, 2017 $0.4 $0.6 $5.3 The Company's income tax provision from continuing operations for the fiscal year ended June 30, 2016 $0.9 $0.7 $4.9 The Company's income tax provision from continuing operations for the fiscal year ended June 30, 2015 $0.5 December 31, ( $4.0 Earnings Per Share (share amounts in thousands) 201 7 201 6 201 5 Basic – Average Shares Outstanding 12,666 12,682 12,655 Effect of Dilutive Securities – Stock Options and Restricted Stock Awards 102 102 150 Diluted – Average Shares Outstanding 12,768 12,784 12,805 Both basic and dilutive income is the same for computing earnings per share. There were no June 30, 2017, 2016 2015. Recently Issued Accounting Pronouncements In May 2014, 2014 09, Revenue from Contract with Customers, not July 1, 2018. In July 2015, 2015 11, Inventory (Topic 330 December 15, 2016. 2015 11 not In November 2015, 2015 17, Income Taxes (Topic 740 Balance Sheet Classification of Deferred Taxes December 15, 2016, 2015 17. In February 2016, 2016 02, Leases (Topic 842 2016 02 twelve not 2016 02 December 15, 2018. 2016 02, In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment two 2017 04 2017 04 December 15, 2019. 2017 04 In March 2017, 2017 07, Compensation-Retirement Benefits (Topic 715 December 15, 2017 ( 2019 In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting 2016 09. $0.6 June 30, 2017, |