Parker-Hannifin (PH) 10-K 24 Aug 18 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2018	Jul. 31, 2018	Dec. 31, 2017
Document Document and Entity Information [Abstract]
Entity Registrant Name	PARKER HANNIFIN CORP
Entity Central Index Key	76,334
Trading Symbol	PH
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		132,360,024
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 26,411,763,329

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Net Sales	$ 14,302,392	$ 12,029,312	$ 11,360,753
Cost of sales	10,762,841	9,188,962	8,823,384
Selling, general and administrative expenses	1,657,152	1,453,935	1,359,360
Interest expense	213,873	162,436	136,517
Other (income), net	(29,268)	(61,401)	(62,199)
(Gain) on disposal of assets (Note 2)	(4,483)	(43,261)	(11,037)
Income before income taxes	1,702,277	1,328,641	1,114,728
Income taxes (Note 4)	640,962	344,797	307,512
Net Income	1,061,315	983,844	807,216
Less: Noncontrolling interest in subsidiaries' earnings	514	432	376
Net Income Attributable to Common Shareholders	$ 1,060,801	$ 983,412	$ 806,840
Earnings per Share Attributable to Common Shareholders (Note 5)
Basic earnings per share (in USD per share)	$ 7.98	$ 7.37	$ 5.96
Diluted earnings per share (in USD per share)	$ 7.83	$ 7.25	$ 5.89

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net Income	$ 1,061,315	$ 983,844	$ 807,216
Less: Noncontrolling interest in subsidiaries' earnings	514	432	376
Net Income Attributable to Common Shareholders	1,060,801	983,412	806,840
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment and other (net of tax of $16,964, $40,935 and $(2,342) in 2018, 2017 and 2016)	(18,575)	(80,865)	(203,299)
Retirement benefits plan activity (net of tax of $(82,506), $(218,590) and $152,203 in 2018, 2017 and 2016)	179,253	384,784	(286,044)
Other comprehensive income (loss)	160,678	303,919	(489,343)
Less: Other comprehensive income (loss) for noncontrolling interests	(440)	358	(196)
Other comprehensive income (loss) attributable to common shareholders	161,118	303,561	(489,147)
Total Comprehensive Income Attributable to Common Shareholders	$ 1,221,919	$ 1,286,973	$ 317,693

Consolidated Statement of Comp4

Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Foreign currency translation and other, tax	$ 16,964	$ 40,935	$ (2,342)
Retirement benefits plan activity, tax	$ (82,506)	$ (218,590)	$ 152,203

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Current Assets
Cash and cash equivalents (Note 1)	$ 822,137	$ 884,886
Marketable securities and other investments (Note 1)	32,995	39,318
Trade accounts receivable, net (Note 1)	2,145,517	1,930,751
Non-trade and notes receivable (Note 1)	328,399	254,987
Inventories (Note 6)	1,621,304	1,549,494
Prepaid expenses	134,886	120,282
Total Current Assets	5,085,238	4,779,718
Plant and equipment (Note 1)	5,215,253	5,186,748
Less: Accumulated depreciation	3,359,016	3,249,456
Plant and equipment, net	1,856,237	1,937,292
Deferred income taxes (Notes 1 and 4)	57,623	36,057
Investments and other assets (Note 1)	801,049	842,475
Intangible assets, net (Notes 1 and 7)	2,015,520	2,307,484
Goodwill (Notes 1 and 7)	5,504,420	5,586,878
Total Assets	15,320,087	15,489,904
Current Liabilities
Notes payable and long-term debt payable within one year (Notes 8 and 9)	638,466	1,008,465
Accounts payable, trade	1,430,306	1,300,496
Accrued payrolls and other compensation	427,500	435,911
Accrued domestic and foreign taxes	198,878	153,137
Other accrued liabilities	502,333	497,851
Total Current Liabilities	3,197,483	3,395,860
Long-term debt (Note 9)	4,318,559	4,861,895
Pensions and other postretirement benefits (Note 10)	1,177,605	1,406,082
Deferred income taxes (Notes 1 and 4)	234,858	221,790
Other liabilities	526,089	336,931
Total Liabilities	9,454,594	10,222,558
Shareholders' Equity
Serial preferred stock, $.50 par value, authorized 3,000,000 shares; none issued	0	0
Common stock, $.50 par value, authorized 600,000,000 shares; issued 181,046,128 shares in 2018 and 2017	90,523	90,523
Additional capital	496,592	543,879
Retained earnings	11,625,975	10,930,348
Accumulated other comprehensive (loss)	(1,763,086)	(1,924,204)
Treasury shares at cost: 48,632,105 in 2018 and 47,854,475 in 2017	(4,590,138)	(4,378,897)
Total Shareholders' Equity	5,859,866	5,261,649
Noncontrolling interests	5,627	5,697
Total Equity	5,865,493	5,267,346
Total Liabilities and Equity	$ 15,320,087	$ 15,489,904

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Jun. 30, 2018	Jun. 30, 2017
Statement of Financial Position [Abstract]
Serial preferred stock, par value (in USD per share)	$ 0.50	$ 0.50
Serial preferred stock, authorized (in shares)	3,000,000	3,000,000
Serial preferred stock, issued (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.50	$ 0.50
Common stock, authorized (in shares)	600,000,000	600,000,000
Common stock, issued (in shares)	181,046,128	181,046,128
Treasury shares (in shares)	48,632,105	47,854,475

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Cash Flows From Operating Activities
Net Income	$ 1,061,315	$ 983,844	$ 807,216
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	237,806	202,868	190,308
Amortization	228,279	152,361	116,535
Stock incentive plan compensation	118,831	80,339	71,293
Deferred income taxes	(41,412)	37,024	(65,686)
Foreign currency transaction loss	7,284	8,060	22,750
(Gain) loss on sale of plant and equipment	(24,422)	1,494	414
Loss (gain) on sale of businesses	19,666	(41,285)	(10,666)
Loss on sale and impairment of investments	41,219	0	0
(Gain) on sale of marketable securities	(2)	(1,032)	(723)
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable	(301,978)	(95,347)	17,549
Inventories	(92,209)	(73,673)	120,243
Prepaid expenses	(16,206)	2,410	136,034
Other assets	(13,293)	(3,887)	(5,033)
Accounts payable, trade	125,907	174,761	(52,378)
Accrued payrolls and other compensation	(4,614)	5,922	(22,865)
Accrued domestic and foreign taxes	44,019	18,165	(6,285)
Other accrued liabilities	(5,567)	(59,738)	(31,633)
Pensions and other postretirement benefits	31,239	(103,866)	(45,796)
Other liabilities	184,425	14,051	(30,499)
Net cash provided by operating activities	1,600,287	1,302,471	1,210,778
Cash Flows From Investing Activities
Acquisitions (less cash acquired of $157,426 in 2017 and $3,814 in 2016)	0	(4,069,197)	(67,552)
Capital expenditures	(247,667)	(203,748)	(149,407)
Proceeds from sale of plant and equipment	81,881	14,648	18,821
Proceeds from sale of businesses	177,741	85,610	24,325
Purchase of marketable securities and other investments	(80,607)	(465,666)	(1,351,464)
Maturities and sales of marketable securities and other investments	83,905	1,279,318	1,300,633
Other	4,837	(6,113)	(39,995)
Net cash provided by (used in) investing activities	20,090	(3,365,148)	(264,639)
Cash Flows From Financing Activities
Net cash proceeds	3,682	2,202	126
Payments for common shares	(381,041)	(338,078)	(587,365)
Proceeds from notes payable, net	4,115	230,499	303,624
Proceeds from long-term borrowings	1,189	2,614,463	2,287
Payments for long-term borrowings	(944,629)	(381,078)	(220,068)
Dividends paid	(365,288)	(345,380)	(341,962)
Net cash (used in) provided by financing activities	(1,681,972)	1,782,628	(843,358)
Effect of exchange rate changes on cash	(1,154)	(56,718)	(61,712)
Net (decrease) increase in cash and cash equivalents	(62,749)	(336,767)	41,069
Cash and cash equivalents at beginning of year	884,886	1,221,653	1,180,584
Cash and cash equivalents at end of year	822,137	884,886	1,221,653
Cash paid during the year for:
Interest	200,860	131,937	133,999
Income taxes	$ 408,765	$ 268,127	$ 250,155

Consolidated Statement of Cash8

Consolidated Statement of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Statement of Cash Flows [Abstract]
Acquisitions, cash acquired	$ 157,426	$ 3,814

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Capital	Retained Earnings	Accumulated Other Comprehensive (Loss)	Treasury Shares	Noncontrolling Interests
Beginning Balance at Jun. 30, 2015	$ 5,107,569	$ 90,523	$ 622,729	$ 9,841,885	$ (1,738,618)	$ (3,712,232)	$ 3,282
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	807,216			806,840			376
Other comprehensive income (loss)	(489,343)				(489,147)		(196)
Dividends paid	(341,962)			(341,923)			(39)
Stock incentive plan activity	52,702		5,722	(3,936)		50,916
Shares purchased at cost	(557,504)					(557,504)
Ending Balance at Jun. 30, 2016	4,578,678	90,523	628,451	10,302,866	(2,227,765)	(4,218,820)	3,423
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	983,844			983,412			432
Other comprehensive income (loss)	303,919				303,561		358
Dividends paid	(345,380)			(345,042)			(338)
Stock incentive plan activity	9,155		(84,572)	(10,888)		104,615
Acquisition activity	1,822						1,822
Shares purchased at cost	(264,692)					(264,692)
Ending Balance at Jun. 30, 2017	5,267,346	90,523	543,879	10,930,348	(1,924,204)	(4,378,897)	5,697
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,061,315			1,060,801			514
Other comprehensive income (loss)	160,678				161,118		(440)
Dividends paid	(365,288)			(365,174)			(114)
Stock incentive plan activity	41,472		(47,287)			88,759
Acquisition activity	(30)						(30)
Shares purchased at cost	(300,000)					(300,000)
Ending Balance at Jun. 30, 2018	$ 5,865,493	$ 90,523	$ 496,592	$ 11,625,975	$ (1,763,086)	$ (4,590,138)	$ 5,627

Business Segment Information

Business Segment Information	12 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION (Dollars in thousands) 2018 2017 2016 Net Sales: Diversified Industrial: North America $ 6,726,900 $ 5,366,809 $ 4,955,211 International 5,259,793 4,377,776 4,145,272 Aerospace Systems 2,315,699 2,284,727 2,260,270 $ 14,302,392 $ 12,029,312 $ 11,360,753 Segment Operating Income: Diversified Industrial: North America $ 1,076,021 $ 873,552 $ 789,667 International 765,188 579,207 448,457 Aerospace Systems 397,970 337,496 337,531 Total segment operating income 2,239,179 1,790,255 1,575,655 Corporate administration 200,901 172,632 173,203 Income before interest expense and other expense 2,038,278 1,617,623 1,402,452 Interest expense 213,873 162,436 136,517 Other expense 122,128 126,546 151,207 Income before income taxes $ 1,702,277 $ 1,328,641 $ 1,114,728 Assets: Diversified Industrial $ 13,368,619 $ 13,366,981 $ 8,728,671 Aerospace Systems (a) 1,446,745 1,412,707 1,430,577 Corporate 504,723 710,216 1,874,894 $ 15,320,087 $ 15,489,904 $ 12,034,142 Property Additions: Diversified Industrial $ 196,469 $ 148,765 $ 134,618 Aerospace Systems 15,225 16,929 10,857 Corporate 35,973 38,054 3,932 $ 247,667 $ 203,748 $ 149,407 Depreciation: Diversified Industrial $ 211,648 $ 176,823 $ 163,014 Aerospace Systems 16,737 17,484 18,469 Corporate 9,421 8,561 8,825 $ 237,806 $ 202,868 $ 190,308 (Dollars in thousands) 2018 2017 2016 By Geographic Area (b) Net Sales: North America $ 8,978,490 $ 7,585,689 $ 7,144,481 International 5,323,902 4,443,623 4,216,272 $ 14,302,392 $ 12,029,312 $ 11,360,753 Long-Lived Assets: North America $ 1,103,308 $ 1,145,127 $ 817,872 International 752,929 792,165 750,228 $ 1,856,237 $ 1,937,292 $ 1,568,100 The accounting policies of the business segments are the same as those described in the Significant Accounting Policies footnote except that the business segment results are prepared on a basis that is consistent with the manner in which the Company’s management disaggregates financial information for internal review and decision-making. (a) Includes an investment in a joint venture in which ownership is 50 percent or less and in which the Company does not have operating control ( 2018 - $235,665 ; 2017 - $240,182 ; 2016 - $241,728 ). (b) Net sales are attributed to countries based on the location of the selling unit. North America includes the United States, Canada and Mexico. No country other than the United States represents greater than 10 percent of consolidated sales. Long-lived assets are comprised of plant and equipment based on physical location.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies The significant accounting policies followed in the preparation of the accompanying consolidated financial statements are summarized below. Nature of Operations - The Company is a leading worldwide diversified manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. The Company evaluates performance based on segment operating income before corporate administrative expenses, interest expense and income taxes. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment. Diversified Industrial Segment products are marketed primarily through field sales employees and independent distributors. The Diversified Industrial North American operations have manufacturing plants and distribution networks throughout the United States, Canada and Mexico and primarily service North America. The Diversified Industrial International operations provide Parker products and services to 47 countries throughout Europe, Asia Pacific, Latin America, the Middle East and Africa. The Aerospace Systems Segment produces hydraulic, fuel, pneumatic and electro-mechanical systems and components, which are utilized on virtually every domestic commercial, military and general aviation aircraft and also performs a vital role in naval vessels and land-based weapons systems. This segment serves original equipment and maintenance, repair and overhaul customers worldwide. Aerospace Systems Segment products are marketed by field sales employees and are sold directly to manufacturers and end users. There are no individual customers to whom sales are more than three percent of the Company's consolidated sales. Due to the diverse group of customers throughout the world, the Company does not consider itself exposed to any concentration of credit risks. The Company manufactures and markets its products throughout the world. Although certain risks and uncertainties exist, the diversity and breadth of the Company's products and geographic operations mitigate the risk that adverse changes with respect to any particular product and geographic operation would materially affect the Company's operating results. Use of Estimates - The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Basis of Consolidation - The consolidated financial statements include the accounts of all majority-owned domestic and foreign subsidiaries. All intercompany transactions and profits have been eliminated in the consolidated financial statements. The Company does not have off-balance sheet arrangements. Within the Business Segment Information, intersegment and interarea sales have been eliminated. Revenue Recognition - Revenue is recognized when persuasive evidence of an arrangement exists, product has shipped and the risks and rewards of ownership have transferred or services have been rendered, the price to the customer is fixed and determinable and collectibility is reasonably assured, which is generally at the time the product is shipped. Shipping and handling costs billed to customers are included in net sales and the related costs in cost of sales. Taxes collected from customers and remitted to governmental authorities are excluded from revenue. Long-term Contracts - The Company enters into long-term contracts primarily for the production of aerospace products. For financial statement purposes, revenues are primarily recognized using the percentage-of-completion method. The extent of progress toward completion is primarily measured using the units-of-delivery method. Unbilled costs on these contracts are included in inventory. Progress payments are netted against the inventory balances. The Company estimates costs to complete long-term contracts for purposes of evaluating and establishing contract reserves. Adjustments to cost estimates are made on a consistent basis and a contract reserve is established when the estimated costs to complete a contract exceed the expected contract revenues. Cash - Cash equivalents consist of short-term highly liquid investments, with a three-month or less maturity, carried at cost plus accrued interest, which are readily convertible into cash. Marketable Securities and Other Investments - Consist of short-term highly liquid investments, with stated maturities of greater than three months from the date of purchase, carried at cost plus accrued interest, and investments classified as available-for-sale, which are carried at fair value with unrealized gains and losses recorded in accumulated other comprehensive (loss). Gains and losses on available-for-sale investments are calculated based on the first-in, first-out method. The Company has the ability to liquidate the available-for-sale investments after giving appropriate notice to the issuer. Trade Accounts Receivable, Net - Trade accounts receivable are initially recorded at their net collectible amount and are generally recorded at the time the revenue from the sales transaction is recorded. Receivables are written off to bad debt primarily when, in the judgment of the Company, the receivable is deemed to be uncollectible due to the insolvency of the debtor. Allowance for doubtful accounts was $9,672 and $14,336 at June 30, 2018 and 2017 , respectively. Non-Trade and Notes Receivable - The non-trade and notes receivable caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2018 2017 Notes receivable $ 149,254 $ 118,351 Accounts receivable, other 179,145 136,636 Total $ 328,399 $ 254,987 Plant, Equipment and Depreciation - Plant and equipment are recorded at cost and are depreciated principally using the straight-line method for financial reporting purposes. Depreciation rates are based on estimated useful lives of the assets, generally 40 years for buildings, 15 years for land improvements and building equipment, seven to 10 years for machinery and equipment, and three to eight years for vehicles and office equipment. Improvements, which extend the useful life of property, are capitalized, and maintenance and repairs are expensed. The Company reviews plant and equipment for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. When plant and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the appropriate accounts and any gain or loss is included in current income. The plant and equipment caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2018 2017 Land and land improvements $ 289,686 $ 321,331 Buildings and building equipment 1,578,701 1,575,464 Machinery and equipment 3,218,639 3,167,885 Construction in progress 128,227 122,068 Total $ 5,215,253 $ 5,186,748 Investments and Other Assets - Investments in joint-venture companies in which ownership is 50 percent or less and in which the Company does not have operating control are stated at cost plus the Company's equity in undistributed earnings and amounted to $304,389 and $341,869 at June 30, 2018 and 2017 , respectively. A significant portion of the underlying net assets of the joint ventures are related to goodwill. The Company's share of earnings from investments in joint-venture companies were $50,473 , $42,352 and $25,650 in 2018 , 2017 and 2016 , respectively. Intangible Assets - Intangible assets primarily include patents, trademarks and customer lists and are recorded at cost and amortized on a straight-line method. Patents are amortized over the shorter of their remaining useful or legal life. Trademarks are amortized over the estimated time period over which an economic benefit is expected to be received. Customer lists are amortized over a period based on anticipated customer attrition rates. The Company reviews intangible assets for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. Goodwill - The Company conducts a formal impairment test of goodwill on an annual basis and between annual tests if an event occurs or circumstances change that would, more likely than not, reduce the fair value of a reporting unit below its carrying value. Income Taxes - Income taxes are provided based upon income for financial reporting purposes. Tax credits and similar tax incentives are applied to reduce the provision for income taxes in the year in which the credits arise. The Company recognizes accrued interest related to unrecognized tax benefits in income tax expense. Penalties, if incurred, are recognized in income tax expense. Deferred income taxes arise from temporary differences in the recognition of income and expense for tax purposes. Foreign Currency Translation - Assets and liabilities of foreign subsidiaries are translated at current exchange rates, and income and expenses are translated using weighted-average exchange rates. The effects of these translation adjustments, as well as gains and losses from certain intercompany transactions, are reported in the accumulated other comprehensive (loss) component of shareholders' equity. Such adjustments will affect net income only upon sale or liquidation of the underlying foreign investments. Exchange losses (gains) from transactions in a currency other than the local currency of the entity involved are included within the cost of sales caption in the Consolidated Statement of Income and were $7,284 , $8,060 and $22,750 , in 2018 , 2017 and 2016 , respectively. Subsequent Events - The Company has evaluated subsequent events that have occurred through the date of filing of this Annual Report on Form 10-K for the year ended June 30, 2018 . No subsequent events occurred that required adjustment to or disclosure in these financial statements. Recent Accounting Pronouncements - In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, "Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." ASU 2018-02 allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the TCJ Act reduction of the U.S. federal corporate income tax rate. The amendments also require certain disclosures about stranded tax effects. ASU 2018-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted in any period after the issuance of the update. The amendments in this update should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the TCJ Act is recognized. The Company has not yet determined the effect that ASU 2018-02 will have on its financial statements. In August 2017, the FASB issued ASU 2017-12, "Targeted Improvements to Accounting for Hedging Activities." ASU 2017-12 provides targeted improvements to Topic 815 accounting for hedging activities by expanding an entity’s ability to hedge non-financial and financial risk components and reduce complexity in fair value hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. ASU 2017-12 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early application is permitted in any interim period after issuance of the update. ASU 2017-12 should be applied using a modified retrospective approach for cash flow and net investment hedge relationships that exist on the date of adoption and prospectively for presentation and disclosure requirements. The Company has not yet determined the effect that ASU 2017-12 will have on its financial statements. In May 2017, the FASB issued ASU 2017-09, "Scope of Modification Accounting." ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. An entity should account for the effects of a modification unless all of the following are met: (1) the fair value of the modified award is the same as fair value of the original award; (2) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and (3) the classification of the award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. ASU 2017-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted. ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. During the first quarter of fiscal 2018, the Company adopted ASU 2017-09. The adoption of ASU 2017-09 did not affect the Company's financial statements as there were no modifications of any share-based awards during 2018. In March 2017, the FASB issued ASU 2017-07, "Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." ASU 2017-07 requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. ASU 2017-07 also provides that only the service cost component is eligible for capitalization, when applicable. ASU 2017-07 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. ASU 2017-07 should be applied retrospectively for the income statement presentation of net periodic pension cost and net periodic postretirement benefit cost and prospectively, on or after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit cost. The Company expects that adoption of this standard will result in a reclassification of expense from cost of sales and selling, general and administrative expenses to other (income) of approximately $25 million and $17 million , respectively, for 2018 and $70 million and $41 million , respectively, for 2017. In January 2017, the FASB issued ASU 2017-04, "Simplifying the Test for Goodwill Impairment." ASU 2017-04 eliminates Step 2 from the goodwill impairment test. Under the amendments in this Update, an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 also eliminates the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. During the first quarter of 2018, the Company adopted ASU 2017-04. The adoption of ASU 2017-04 did not affect the Company's financial statements as there were no instances of a reporting unit's carrying value exceeding its fair value for any goodwill impairment tests performed during 2018. In October 2016, the FASB issued ASU 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory." ASU 2016-16 provides that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Consequently, the amendments in ASU 2016-16 eliminate the exception for an intra-entity transfer of an asset other than inventory. ASU 2016-16 is effective for fiscal years, and interim periods within those years, beginning after December 31, 2017. Early adoption is permitted. The Company expects that the cumulative effect of the adoption of ASU 2016-16 will result in a reduction to retained earnings of approximately $18 million . In August 2016, the FASB issued ASU 2016-15, "Classification of Certain Cash Receipts and Cash Payments." ASU 2016-15 provides specific guidance on several cash flow classification issues to reduce diversity in practice in how certain transactions are classified within the statement of cash flows. ASU 2016-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. After consideration of the current level of transactions within the scope of ASU 2016-15, the Company does not expect that the retrospective adoption of this standard at the beginning of the first quarter of 2019 will have a material impact on its financial statements. In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments." ASU 2016-13 requires a financial asset (or a group of financial assets) measured at amortized cost to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. Credit losses relating to available-for-sale debt securities should be recorded through an allowance for credit losses. ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted. The Company has not yet determined the effect that ASU 2016-13 will have on its financial statements. In February 2016, the FASB issued ASU 2016-02, "Leases." ASU 2016-02 requires lessees to put most leases with terms greater than 12 months on their balance sheet by recognizing a liability to make lease payments and an asset representing their right to use the asset during the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election, by class of underlying asset, not to recognize the corresponding assets and lease liabilities. Lessee recognition, measurement, and presentation of expenses and cash flows will not change significantly from existing guidance and lessor accounting is largely unchanged. ASU 2016-02 also changes the definition of a lease and requires qualitative, and quantitative disclosures that provide information about the amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. Adoption of this ASU is planned for the beginning of the first quarter of 2020. The Company has not yet determined the effect that ASU 2016-02 will have on its financial statements. In January 2016, the FASB issued ASU 2016-01, "Recognition and Measurement of Financial Assets and Liabilities." ASU 2016-01 requires equity investments (excluding equity method investments and investments that are consolidated) to be measured at fair value with changes in fair value recognized in net income. Equity investments that do not have a readily determinable fair value may be measured at cost, adjusted for impairment and observable price changes. ASU 2016-01 also simplifies the impairment assessment of equity investments, eliminates the disclosure of the assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at cost on the balance sheet and requires the exit price to be used when measuring fair value of financial instruments for disclosure purposes. Under ASU 2016-01, changes in fair value (resulting from instrument-specific credit risk) will be presented separately in other comprehensive income for liabilities measured using the fair value option. Financial assets and liabilities will be presented separately by measurement category and type, either on the balance sheet or in the financial statement disclosures. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company does not expect that the retrospective adoption of ASU 2016-01 at the beginning of the first quarter of 2019 will have a material impact on its financial statements. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers." ASU 2014-09 requires revenue recognition to depict the transfer of goods or services to customers in an amount that reflects the consideration that a company expects to be entitled to in exchange for the goods or services. To achieve this principle, a company must apply five steps including identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when (or as) the company satisfies the performance obligations. Additional quantitative and qualitative disclosure to enhance the understanding about the nature, amount, timing, and uncertainty of revenue and cash flows is also required. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. In April 2016, the FASB issued ASU 2016-10, "Identifying Performance Obligations and Licensing." ASU 2016-10 clarifies the following two aspects of ASU 2014-09: identifying performance obligations and licensing implementation guidance. The effective date of ASU 2016-10 is the same as the effective date of ASU 2014-09. The Company has elected to adopt ASU 2014-09 using the modified retrospective method. The Company does not expect that the cumulative effect of the adoption of ASU 2014-09 at the beginning of the first quarter of 2019 will have a material impact on retained earnings. We expect to provide the required additional disclosures in periods subsequent to the adoption.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions - During 2017 , the Company completed three acquisitions, including Clarcor, whose aggregate sales for their most recent fiscal year prior to acquisition were approximately $1,522 million . Total purchase price for the three acquisitions was approximately $4,227 million in cash and $316 million in assumed debt. During 2016 , the Company completed two acquisitions whose aggregate sales for their most recent fiscal year prior to acquisition were approximately $48 million . Total purchase price for the two acquisitions was approximately $71 million in cash and $2 million in assumed debt. The results of operations for all acquisitions were included as of the respective dates of acquisition. Assets acquired and liabilities assumed were recognized at their respective fair values as of the acquisition date. The process of estimating the fair values of certain tangible assets, identifiable intangible assets and assumed liabilities requires the use of judgment in determining the appropriate assumptions and estimates. Revisions occur as valuations are finalized, additional information becomes available and as additional analysis is performed. All measurement period adjustments were completed within a year from the acquisition date, and such adjustments did not have a material impact on the Company's results of operations and financial position. The initial purchase price allocation for acquisitions in 2017 and 2016 are as follows: 2017 2016 Assets: Accounts receivable $ 263,616 $ 6,793 Inventories 302,422 12,041 Prepaid expenses 18,342 1,350 Deferred income taxes 4,658 — Plant and equipment 376,826 5,647 Intangible and other assets 1,526,909 26,849 Goodwill 2,677,489 31,134 5,170,262 83,814 Liabilities: Notes payable 20,162 720 Accounts payable, trade 84,753 2,536 Accrued payrolls and other compensation 45,942 1,310 Accrued domestic and foreign taxes 5,435 604 Other accrued liabilities 80,515 1,804 Long-term debt 296,240 1,743 Pensions and other postretirement benefits 33,929 — Deferred income taxes 520,389 7,545 Other liabilities 11,878 — Noncontrolling interests 1,822 — 1,101,065 16,262 Net assets acquired $ 4,069,197 $ 67,552 Goodwill is calculated as the excess of the purchase price over the net assets acquired, primarily all of which is not deductible for tax purposes. With respect to the Clarcor acquisition, goodwill represents cost synergies and enhancements to the Company's existing filtration technologies. The remaining disclosures in Note 2 pertain only to the Clarcor acquisition as the other two acquisitions completed during 2017 were immaterial. Clarcor is a major manufacturer of filtration products under more than a dozen respected brands, including CLARCOR, Baldwin, Fuel Manager, PECOFacet, Airguard, Altair, BHA, Clearcurrent, Clark Filter, Hastings, United Air Specialists, Keddeg and Purolator. Clarcor had annual sales of approximately $1,400 million for its fiscal 2016. For segment reporting purposes, Clarcor is part of the Diversified Industrial Segment. The Company believes that Clarcor is a highly complementary acquisition that provides the Company with additional proprietary media, industrial and process filtration products and technologies, as well as a broad portfolio of replacement filters. The acquisition of Clarcor also offers significant expected operating synergies. The Company's results of operations for 2017 include Clarcor's results of operations from the date of acquisition, February 28, 2017, through June 30, 2017. Net sales and segment operating (loss) attributable to Clarcor during this period was $487,388 and $(16,164) , respectively. The following unaudited pro forma information gives effect to the Company's acquisition of Clarcor as if the acquisition had occurred on July 1, 2015, and Clarcor had been included in the Company's results of operations for 2017 and 2016. 2017 2016 Net sales $ 12,935,834 $ 12,772,097 Net income attributable to common shareholders 1,027,693 748,634 Diluted earnings per share 7.58 5.47 The unaudited pro forma financial information in the table above includes adjustments related to amortization expense, depreciation, interest expense and transaction costs incurred as well as adjustments to cost of sales for the step-up in inventory to estimated acquisition-date fair value and related income tax effects and was based on a preliminary purchase price allocation using information available at that time. Transaction costs incurred (which are reflected in the selling, general and administrative expenses caption in the Consolidated Statement of Income) and the adjustment to cost of sales for the step-up in inventory to estimated acquisition-date fair value are considered to be non-recurring. Adjustments for non-recurring items increased pro forma net income attributable to common shareholders by $108,078 for 2017 and decreased pro forma net income attributable to common shareholders by $39,121 for 2016. The unaudited pro forma financial information does not give effect to any synergies, operating efficiencies or cost savings that may result or have resulted from the Clarcor acquisition. Divestitures - During 2018, the Company divested its global Facet filtration business, which was part of the Diversified Industrial Segment. The operating results and net assets of the global Facet filtration business were immaterial to the Company's consolidated results of operations and financial position. The Company recorded a pre-tax loss in 2018 of approximately $20 million and tax expense of approximately $29 million resulting from a tax gain related to the divestiture. The pre-tax loss is reflected in the (gain) on disposal of assets caption in the Consolidated Statement of Income and the other expense caption in the Business Segment Information. During 2017, the Company divested its Autoline product line, which was part of the Diversified Industrial Segment. The operating results and net assets of the Autoline product line were immaterial to the Company's consolidated results of operations and financial position. The Company recorded a net pre-tax gain in 2017 of approximately $45 million related to the divestiture. The gain is reflected in the (gain) on disposal of assets caption in the Consolidated Statement of Income and the other expense caption in the Business Segment Information.

Charges Related to Business Rea

Charges Related to Business Realignment	12 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Charges Related to Business Realignment	Charges Related to Business Realignment The Company incurred business realignment charges in 2018 , 2017 and 2016 . The Company also incurred acquisition integration costs in 2018 and 2017 related to the 2017 acquisition of Clarcor. Business realignment charges and acquisition integration costs presented in the Business Segment Information are as follows: 2018 2017 2016 Diversified Industrial $ 78,558 $ 52,939 $ 91,404 Aerospace Systems 3,428 2,674 3,629 Corporate administration — — 2,215 Other expense 1,009 784 116 Work force reductions in connection with such business realignment charges and acquisition integration costs in the Business Segment Information are as follows: 2018 2017 2016 Diversified Industrial 1,757 1,102 3,515 Aerospace Systems 265 89 81 Corporate administration — — 53 The business realignment charges primarily relate to actions taken under the Company's simplification initiative aimed at reducing organizational and process complexity. Business realignment charges and acquisition integration costs primarily consist of severance costs as well as plant closures, with the majority of charges incurred in Europe and North America. In connection with a plant closure during 2016, the Company recognized an expense associated with enhanced retirement benefits (refer to Note 10 for further discussion). The Company believes the realignment and acquisition integration actions taken will positively impact future results of operations but will not have a material effect on liquidity and sources and uses of capital. The business realignment charges and acquisition integration costs are presented in the Consolidated Statement of Income as follows: 2018 2017 2016 Cost of sales $ 44,949 $ 35,932 $ 76,197 Selling, general and administrative expenses 36,813 19,681 21,051 (Gain) on disposal of assets 1,233 784 116 As of June 30, 2018 , approximately $40 million in severance payments have been made relating to business realignment and acquisition integration charges incurred during 2018 , the remainder of which are expected to be paid by June 30, 2019 . Severance payments relating to prior-year actions are being made as required. Remaining severance payments related to current-year and prior-year business realignment and acquisition integration actions of approximately $26 million are primarily reflected within the other accrued liabilities caption in the Consolidated Balance Sheet. Additional charges may be recognized in future periods related to the business realignment and acquisition integration actions described above, the timing and amount of which are not known at this time.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017, the TCJ Act was enacted into law. The TCJ Act significantly reforms the Internal Revenue Code of 1986, as amended, by among other things, establishing a flat corporate income tax rate of 21 percent and creating a territorial tax system (with a one-time transition tax imposed on previously undistributed foreign earnings and profits). The Securities and Exchange Commission staff issued SAB 118, which provides guidance on accounting for the tax effects of the TCJ Act. SAB 118 provides a measurement period that should not extend beyond one year from the TCJ Act's enactment date for companies to complete the applicable accounting under Topic 740. In accordance with SAB 118, and based on the information available as of June 30, 2018 , the Company recorded a net provisional discrete income tax cost of $233 million as a result of the TCJ Act being enacted. The reduction in the U.S. corporate tax rate under the TCJ Act required a one-time revaluation of certain tax-related assets and liabilities to reflect their value at the reduced corporate tax rate of 21 percent , which resulted in a decrease in income tax expense of approximately $80 million . The one-time transition tax on undistributed foreign earnings and profits resulted in an increase in income tax expense of $297 million . Incremental adjustments have been made to these estimates during the three months ended June 30, 2018 , based on the availability of additional information. The Company has not yet completed the accounting for the one-time transition tax and continues to analyze undistributed foreign earnings and profits for purposes of filing the tax return for 2018. In addition, the Company continues to interpret the law and guidance issued as of the date of these financial statements. On August 1, 2018, the U.S. Treasury and Internal Revenue Service released proposed regulations relating to the one-time transition tax. The proposed regulations are subject to a 60-day comment period. Final regulations are expected to be issued after consideration of the comments. The Company is currently evaluating the impact of the proposed regulations. The Company intends to make the election to pay the one-time transition tax over eight years . The amount of cash payments will be less than the amount of the income tax expense due to the utilization of available credits. Certain provisions of the TCJ Act will impact the Company starting in 2019. These provisions include, but are not limited to, the creation of the base erosion anti-abuse tax, a general limitation of U.S. federal income taxes on dividends from foreign subsidiaries, a new provision designed to tax global intangible low-taxed income and the repeal of the domestic production activities deduction. The Company continues to evaluate the future impacts of these provisions and, as of June 30, 2018 , has not recorded any impact of any of these future provisions. Income before income taxes was derived from the following sources: 2018 2017 2016 United States $ 963,843 $ 722,925 $ 672,907 Foreign 738,434 605,716 441,821 $ 1,702,277 $ 1,328,641 $ 1,114,728 Income taxes include the following: 2018 2017 2016 Federal Current $ 453,821 $ 132,420 $ 235,557 Deferred (23,876 ) 37,316 (45,797 ) Foreign Current 210,385 157,518 113,146 Deferred (17,454 ) (5,319 ) (7,006 ) State and local Current 18,168 17,835 24,495 Deferred (82 ) 5,027 (12,883 ) $ 640,962 $ 344,797 $ 307,512 A reconciliation of the Company's effective income tax rate to the statutory federal rate follows: 2018 2017 2016 Statutory federal income tax rate 28.1 % 35.0 % 35.0 % State and local income taxes 1.2 1.7 0.6 Tax related to international activities (1.0 ) (5.5 ) (5.2 ) Transition tax related to the TCJ Act 17.5 — — Remeasurement of deferred tax assets and liabilities related to the TCJ Act (4.8 ) — — Cash surrender value of life insurance (0.4 ) (0.9 ) 0.2 Federal manufacturing deduction (1.0 ) (0.9 ) (1.0 ) Research tax credit (0.7 ) (0.8 ) (1.9 ) Share-based compensation (2.2 ) (2.7 ) — Other 1.0 0.1 (0.1 ) Effective income tax rate 37.7 % 26.0 % 27.6 % Deferred income taxes are provided for the temporary differences between the financial reporting basis and the tax basis of assets and liabilities. The differences comprising the net deferred taxes shown on the Consolidated Balance Sheet at June 30 were as follows: 2018 2017 Retirement benefits $ 340,480 $ 571,022 Other liabilities and reserves 112,935 144,885 Long-term contracts 17,496 61,375 Stock-based compensation 38,535 59,725 Loss carryforwards 679,880 678,486 Unrealized currency exchange gains and losses 27,228 22,212 Inventory (9,612 ) 17,809 Foreign tax credit carryforward — 23,050 Depreciation and amortization (689,320 ) (1,080,218 ) Valuation allowance (694,857 ) (684,079 ) Net deferred tax (liability) $ (177,235 ) $ (185,733 ) Change in net deferred tax asset (liability): Provision for deferred tax $ 41,412 $ (37,024 ) Items of other comprehensive (loss) (65,542 ) (177,655 ) Acquisitions and other 32,628 (521,814 ) Total change in net deferred tax $ 8,498 $ (736,493 ) As of June 30, 2018 , the Company recorded deferred tax assets of $679,880 resulting from $2,633,218 in loss carryforwards. A valuation allowance of $675,045 related to the loss carryforwards has been established due to the uncertainty of their realization. Of this valuation allowance, $640,239 relates to non-operating entities whose loss carryforward utilization is considered to be remote. Some of the loss carryforwards can be carried forward indefinitely; others can be carried forward from three to 20 years . In addition, a valuation allowance of $19,812 related to future deductible items has been established due to the uncertainty of their realization. These future deductible items are recorded in the other liabilities and reserves line in the table above. Historically, all foreign undistributed earnings were permanently reinvested in international operations. No tax was provided on such earnings as it was not practicable to estimate the additional tax that might be payable on the eventual distribution. The enactment of the TCJ Act created a territorial tax system significantly reducing the U.S. federal tax cost of future distributions. Although future distributions of foreign earnings to the U.S. should not be subject to U.S. federal income taxes, other U.S. or foreign taxes may be imposed on such earnings. The Company has analyzed existing factors and determined it will no longer permanently reinvest certain foreign earnings. On these undistributed foreign earnings of approximately $274 million that are no longer permanently reinvested outside of the U.S., the Company has recorded a deferred tax liability of $12 million . The remaining undistributed foreign earnings of approximately $2,700 million remain permanently reinvested outside the U.S. at June 30, 2018 . Of these undistributed earnings, we have recorded a deferred tax liability of $ 4 million where certain foreign holding companies are not permanently reinvested in their subsidiaries. It is not practicable to estimate the additional taxes, including applicable foreign withholding taxes, that might be payable on the potential distribution of such permanently reinvested foreign earnings. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2018 2017 2016 Balance July 1 $ 147,506 $ 139,907 $ 145,688 Additions for tax positions related to current year 4,195 4,735 7,025 Additions for tax positions of prior years 8,333 2,618 2,582 Additions for acquisitions — 3,939 — Reductions for tax positions of prior years (3,790 ) (1,175 ) (627 ) Reductions for settlements (315 ) (3,020 ) (10,284 ) Reductions for expiration of statute of limitations (4,480 ) (2,792 ) (4,142 ) Effect of foreign currency translation 1,642 3,294 (335 ) Balance June 30 $ 153,091 $ 147,506 $ 139,907 The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $153,091 , $95,460 and $80,722 as of June 30, 2018 , 2017 and 2016 , respectively. If recognized, a significant portion of the gross unrecognized tax benefits as of June 30, 2017, and 2016, would have been offset against an asset that had been recorded in the Consolidated Balance Sheet. The accrued interest related to the gross unrecognized tax benefits, excluded from the amounts above, was $21,737 , $15,432 and $12,357 as of June 30, 2018 , 2017 and 2016 , respectively. It is reasonably possible that, within the next 12 months, the amount of gross unrecognized tax benefits could be reduced by up to approximately $120,000 as a result of the revaluation of existing uncertain tax positions arising from developments in the examination process or the closure of tax statutes. Any increase in the amount of unrecognized tax benefits within the next 12 months is expected to be insignificant. The Company and its subsidiaries file income tax returns in the United States and in various foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world. The Company is open to assessment of its U.S. federal income tax returns by the Internal Revenue Service for years after 2011 , and its state and local tax returns for years after 2011 . The Company is open to assessment for significant foreign jurisdictions for years after 2009 .

Earnings Per Share

Earnings Per Share	12 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share are computed using the weighted-average number of common shares outstanding during the year. Diluted earnings per share are computed using the weighted-average number of common shares and common share equivalents outstanding during the year. Common share equivalents represent the dilutive effect of outstanding equity-based awards. The reconciliation of the numerator and denominator of basic and diluted earnings per share was as follows: 2018 2017 2016 Numerator: Net income attributable to common shareholders $ 1,060,801 $ 983,412 $ 806,840 Denominator: Basic - weighted-average common shares 133,004,613 133,377,547 135,353,321 Increase in weighted-average common shares from dilutive effect of equity-based awards 2,422,221 2,182,217 1,558,369 Diluted - weighted-average common shares, assuming exercise of equity-based awards 135,426,834 135,559,764 136,911,690 Basic earnings per share $ 7.98 $ 7.37 $ 5.96 Diluted earnings per share $ 7.83 $ 7.25 $ 5.89 For 2018 , 2017 and 2016 , 0.5 million , 1.4 million and 3.1 million common shares, respectively, subject to equity-based awards were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.

Inventories

Inventories	12 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories The majority of domestic inventories are valued by the last-in, first-out (LIFO) cost method and the balance of the Company's inventories are valued by the first-in, first-out (FIFO) cost method. Inventories valued by the FIFO cost method are stated at the lower of cost or net realizable value. Inventories valued by the LIFO cost method are stated at lower of cost or market. Inventories valued on the LIFO cost method were approximately 41 percent of total inventories in 2018 and 39 percent of total inventories in 2017 . The current cost of these inventories exceeds their valuation determined on the LIFO basis by $203,192 in 2018 and $193,933 in 2017 . Progress payments of $25,026 in 2018 and $44,231 in 2017 are netted against inventories. The inventories caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2018 2017 Finished products $ 673,323 $ 642,788 Work in process 765,835 723,133 Raw materials 182,146 183,573 Total $ 1,621,304 $ 1,549,494

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill are as follows: Diversified Industrial Segment Aerospace Systems Segment Total Balance June 30, 2016 $ 2,804,403 $ 98,634 $ 2,903,037 Acquisitions 2,677,489 — 2,677,489 Divestitures (22,618 ) — (22,618 ) Foreign currency translation and other 28,962 8 28,970 Balance June 30, 2017 $ 5,488,236 $ 98,642 $ 5,586,878 Acquisitions 37,489 — 37,489 Divestitures (138,541 ) — (138,541 ) Foreign currency translation and other 18,587 7 18,594 Balance June 30, 2018 $ 5,405,771 $ 98,649 $ 5,504,420 Acquisitions represent the original goodwill allocation, purchase price adjustments and final adjustments to the purchase price allocation for the acquisitions during the measurement period subsequent to the applicable acquisition dates. The impact of the purchase price adjustments and final adjustments to the purchase price allocation on the Company's results of operations and financial position were immaterial. Divestitures primarily represent goodwill associated with the sale of a business in 2018 and a product line in 2017 (see Note 2 for further discussion). The Company's annual impairment tests performed in 2018 , 2017 and 2016 resulted in no impairment loss being recognized. Intangible assets are amortized on a straight-line method over their legal or estimated useful lives. The gross carrying value and accumulated amortization for each major category of intangible asset at June 30 are as follows: 2018 2017 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Patents $ 265,423 $ 117,440 $ 254,049 $ 100,860 Trademarks 546,905 227,580 553,691 200,413 Customer lists and other 2,482,079 933,867 2,566,983 765,966 Total $ 3,294,407 $ 1,278,887 $ 3,374,723 $ 1,067,239 Total intangible asset amortization expense in 2018 , 2017 and 2016 was $221,494 , $145,128 and $108,019 , respectively. Estimated intangible asset amortization expense for the five years ending June 30, 2019 through 2023 is $197,451 , $187,040 , $182,406 , $176,495 and $168,961 , respectively. Intangible assets are evaluated for impairment whenever events or circumstances indicate that the undiscounted net cash flows to be generated by their use over their expected useful lives and eventual disposition may be less than their net carrying value. No such events or circumstances occurred in 2018 , 2017 or 2016 .

Financing Arrangements

Financing Arrangements	12 Months Ended
	Jun. 30, 2018
Financing Arrangements [Abstract]
Financing Arrangements	Financing Arrangements The Company has a line of credit totaling $2,000,000 through a multi-currency revolving credit agreement with a group of banks, of which $1,466,200 was available at June 30, 2018 . The credit agreement expires in October 2021; however, the Company has the right to request a one -year extension of the expiration date on an annual basis, which request may result in changes to the current terms and conditions of the credit agreement. Advances from the credit agreement can be used for general corporate purposes, including acquisitions, and for the refinancing of existing indebtedness. The credit agreement requires the payment of an annual facility fee, the amount of which may increase in the event the Company's credit ratings are lowered. Although a lowering of the Company's credit ratings would likely increase the cost of future debt, it would not limit the Company's ability to use the credit agreement nor would it accelerate the repayment of any outstanding borrowings. The Company is currently authorized to sell up to $2,000,000 of short-term commercial paper notes. Commercial paper notes outstanding at June 30, 2018 and 2017 were $533,800 and $534,200 , respectively. In addition to commercial paper notes, notes payable includes short-term lines of credit and borrowings from foreign banks. At June 30, 2018 and 2017 , the Company had $48,338 and $62,946 , respectively, in lines of credit from various foreign banks, none of which were outstanding at June 30, 2018 and 2017 . Most of these agreements are renewed annually. The Company had borrowings from foreign banks of $4,255 at June 30, 2018 . The weighted-average interest rate on notes payable during 2018 and 2017 was 1.8 percent and 1.0 percent , respectively. The Company's foreign locations in the ordinary course of business may enter into financial guarantees through financial institutions which enable customers to be reimbursed in the event of nonperformance by the Company. The Company's credit agreements and indentures governing certain debt agreements contain various covenants, the violation of which would limit or preclude the use of the applicable agreements for future borrowings, or might accelerate the maturity of the related outstanding borrowings covered by the applicable agreements. Based on the Company's rating level at June 30, 2018 , the most restrictive financial covenant provides that the ratio of debt to debt-shareholders' equity cannot exceed 0.60 to 1.0. As of June 30, 2018 , the Company's debt to debt-shareholders' equity ratio was 0.46 to 1.0. The Company is in compliance with all covenants.

Debt

Debt	12 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt June 30, 2018 2017 Domestic: Fixed rate medium-term notes, 3.30% to 6.55%, due 2019-2045 $ 2,225,000 $ 2,675,000 Senior Notes, 3.25% to 4.10%, due 2027 - 2047 1,300,000 1,300,000 Term loan, Libor plus 100 bps, due 2020 — 493,750 Foreign: Euro Senior Notes, 1.125%, due 2025 817,810 799,890 Euro Term loan, Libor plus 150 bps, due 2022 116,830 114,270 Other long-term debt 762 433 Deferred debt issuance costs (41,432 ) (47,183 ) Total long-term debt 4,418,970 5,336,160 Less: Long-term debt payable within one year 100,411 474,265 Long-term debt, net $ 4,318,559 $ 4,861,895 Principal amounts of long-term debt payable in the five years ending June 30, 2019 through 2023 are $100,411 , $240 , $32 , $116,841 and $300,006 , respectively. The principal amounts of long-term debt payable exclude the impact of the amortization of debt issuance costs. Lease Commitments - Future minimum rental commitments as of June 30, 2018 , under non-cancelable operating leases, which expire at various dates, are as follows: 2019 - $78,812 ; 2020 - $56,889 ; 2021 - $35,102 ; 2022 - $18,326 ; 2023 - $9,172 and after 2023 - $28,390 . Rental expense in 2018 , 2017 and 2016 was $126,940 , $118,723 and $119,004 , respectively.

Retirement Benefits

Retirement Benefits	12 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits Pensions - The Company has noncontributory defined benefit pension plans covering eligible employees, including certain employees in foreign countries. Plans for most salaried employees provide pay-related benefits based on years of service. Plans for hourly employees generally provide benefits based on flat-dollar amounts and years of service. The Company also has arrangements for certain key employees which provide for supplemental retirement benefits. In general, the Company's policy is to fund these plans based on legal requirements, tax considerations, local practices and investment opportunities. The Company also sponsors defined contribution plans and participates in government-sponsored programs in certain foreign countries. A summary of the Company's defined benefit pension plans follows: 2018 2017 2016 Benefit cost Service cost $ 82,993 $ 94,356 $ 94,650 Interest cost 144,339 126,131 181,469 Special termination cost — — 7,088 Settlement cost — — 5,102 Expected return on plan assets (258,490 ) (239,537 ) (221,629 ) Amortization of prior service cost 6,570 8,116 7,470 Amortization of unrecognized actuarial loss 147,387 212,433 170,407 Amortization of initial net obligation 18 18 17 Net periodic benefit cost $ 122,817 $ 201,517 $ 244,574 2018 2017 Change in benefit obligation Benefit obligation at beginning of year $ 5,217,857 $ 5,315,655 Service cost 82,993 94,356 Interest cost 144,339 126,131 Acquisition — 201,283 Plan amendments 2,932 3,265 Divestiture (9,535 ) (851 ) Actuarial gain (182,588 ) (268,370 ) Benefits paid (216,169 ) (250,289 ) Foreign currency translation and other (5,832 ) (3,323 ) Benefit obligation at end of year $ 5,033,997 $ 5,217,857 Change in plan assets Fair value of plan assets at beginning of year $ 3,896,001 $ 3,307,047 Actual gain on plan assets 174,951 341,344 Acquisition — 168,264 Divestiture (12,231 ) — Employer contributions 81,518 330,932 Benefits paid (216,169 ) (250,289 ) Foreign currency translation and other (8,181 ) (1,297 ) Fair value of plan assets at end of year $ 3,915,889 $ 3,896,001 Funded status $ (1,118,108 ) $ (1,321,856 ) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (11,333 ) $ (12,793 ) Pensions and other postretirement benefits (1,106,775 ) (1,309,063 ) Net amount recognized $ (1,118,108 ) $ (1,321,856 ) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial loss $ 1,216,612 $ 1,461,017 Prior service cost 18,900 22,761 Transition obligation 61 77 Net amount recognized $ 1,235,573 $ 1,483,855 The presentation of the amounts recognized on the Consolidated Balance Sheet and in accumulated other comprehensive (loss) is on a debit (credit) basis and excludes the effect of income taxes. Beginning in 2017, the Company changed the method used to estimate the service and interest cost components of net periodic pension and other postretirement benefit costs from the single-weighted average discount rate to the spot yield curve approach. The change does not affect the measurement of the Company's benefit obligations. The new method provides a more precise measure of these components by improving the correlation between projected benefit cash flows and the discrete spot yield curve rates and is accounted for as a change in estimate prospectively. As a result of the method change, net pension benefit cost for 2017 is lower than the net pension benefit cost for 2016 by $29,777 . During 2016, the Company provided enhanced retirement benefits in connection with a plant closure, which resulted in an increase in net pension benefit cost of $7,088 . The estimated amount of net actuarial loss, prior service cost and transition obligation that will be amortized from accumulated other comprehensive (loss) into net periodic benefit pension cost in 2019 is $114,825 , $6,286 and $18 , respectively. The accumulated benefit obligation for all defined benefit plans was $4,751,111 and $4,890,058 at June 30, 2018 and 2017 , respectively. The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were $4,933,863 , $4,665,272 and $3,807,859 , respectively, at June 30, 2018 , and $5,120,268 , $4,805,485 and $3,793,696 , respectively, at June 30, 2017 . The projected benefit obligation and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets were $4,970,120 and $3,842,539 , respectively, at June 30, 2018 , and $5,142,881 and $3,815,815 , respectively, at June 30, 2017 . The Company expects to make cash contributions of approximately $70 million to its defined benefit pension plans in 2019 , the majority of which relate to its non-U.S. defined benefit plans. Estimated future benefit payments in the five years ending June 30, 2019 through 2023 are $240,163 , $242,051 , $259,402 , $305,553 and $267,258 , respectively and $1,454,646 in the aggregate for the five years ending June 30, 2024 through June 30, 2028. The assumptions used to measure net periodic benefit cost for the Company's significant defined benefit plans are: 2018 2017 2016 U.S. defined benefit plans Discount rate 3.64 % 3.33 % 4.19 % Average increase in compensation 3.89 % 5.02 % 5.14 % Expected return on plan assets 7.5 % 7.5 % 7.5 % Non-U.S. defined benefit plans Discount rate 0.30 to 7.57% 0.23 to 7.75% 0.7 to 6.0% Average increase in compensation 2.0 to 5.5% 2.0 to 5.5% 2.0 to 5.5% Expected return on plan assets 1.0 to 5.75% 1.0 to 5.75% 1.0 to 5.75% The assumptions used to measure the benefit obligation for the Company's significant defined benefit plans are: 2018 2017 U.S. defined benefit plans Discount rate 4.01 % 3.64 % Average increase in compensation 3.65 % 3.89 % Non-U.S. defined benefit plans Discount rate 0.30 to 3.37% 0.30 to 7.57% Average increase in compensation 1.75 to 5.5% 2.0 to 5.5% The discount rate assumption is based on current rates of high-quality, long-term corporate bonds over the same estimated time period that benefit payments will be required to be made. The expected return on plan assets assumption is based on the weighted-average expected return of the various asset classes in the plans' portfolio. The asset class return is developed using historical asset return performance as well as current market conditions such as inflation, interest rates and equity market performance. The weighted-average allocation of the majority of the assets related to defined benefit plans is as follows: 2018 2017 Equity securities 44 % 45 % Debt securities 49 % 47 % Other investments 7 % 8 % 100 % 100 % The weighted-average target asset allocation as of June 30, 2018 is 41 percent equity securities, 47 percent debt securities and 12 percent other investments. The investment strategy for the Company's worldwide defined benefit pension plan assets focuses on achieving prudent actuarial funding ratios while maintaining acceptable levels of risk in order to provide adequate liquidity to meet immediate and future benefit requirements. This strategy requires investment portfolios that are broadly diversified across various asset classes and external investment managers. Assets held in the U.S. defined benefit plans account for approximately 74 percent of the Company's total defined benefit plan assets. The Company's overall investment strategy with respect to the Company's U.S. defined benefit plans is to opportunistically migrate from its traditional mix between growth seeking assets (primarily consisting of global public equities in developed and emerging countries and hedge fund of fund strategies) and income generating assets (primarily consisting of high quality bonds, both domestic and global, emerging market bonds, high yield bonds and Treasury Inflation Protected Securities) to an allocation more heavily weighted toward income generating assets. Over time, long duration fixed income assets are being added to the portfolio. These securities are highly correlated with the Company's pension liabilities and will serve to hedge a portion of the Company's interest rate risk. The fair values of pension plan assets at June 30, 2018 and at June 30, 2017 , by asset class, are as follows: June 30, 2018 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 57,307 $ 54,322 $ 2,985 $ — Equity securities U.S. based companies 447,553 447,553 — — Non-U.S. based companies 243,253 243,253 — — Fixed income securities Corporate bonds 225,929 115,534 110,395 — Government issued securities 272,604 184,636 87,968 — Mutual funds Equity funds 176,846 176,846 — — Fixed income funds 179,562 179,562 — — Mutual funds measured at net asset value 232,050 Common/Collective trusts Equity funds 89,578 89,578 — — Fixed income funds 46,620 46,620 — — Common/Collective trusts measured at net asset value 1,737,543 Limited Partnerships measured at net asset value 243,536 Miscellaneous (36,492 ) — (36,492 ) — Total at June 30, 2018 $ 3,915,889 $ 1,537,904 $ 164,856 $ — June 30, 2017 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 76,057 $ 75,370 $ 687 $ — Equity securities U.S. based companies 416,830 416,830 — — Non-U.S. based companies 236,134 236,134 — — Fixed income securities Corporate bonds 176,135 91,982 84,153 — Government issued securities 199,389 144,616 54,773 — Mutual funds Equity funds 306,168 306,168 — — Fixed income funds 204,628 204,628 — — Mutual funds measured at net asset value 233,234 Common/Collective trusts Equity funds 70,389 70,389 — — Fixed income funds 46,003 46,003 — — Common/Collective trusts measured at net asset value 1,677,942 Limited Partnerships measured at net asset value 262,092 Miscellaneous (9,000 ) — (9,000 ) — Total at June 30, 2017 $ 3,896,001 $ 1,592,120 $ 130,613 $ — Cash and cash equivalents, which include repurchase agreements and other short-term investments, are valued at cost, which approximates fair value. Equity securities are valued at the closing price reported on the active market on which the individual securities are traded. U.S. based companies include Company stock with a fair value of $207,202 and $212,480 as of June 30, 2018 and 2017 , respectively. Fixed income securities are valued using both market observable inputs for similar assets that are traded on an active market and the closing price on the active market on which the individual securities are traded. Mutual funds are valued using the closing market price reported on the active market on which the fund is traded or at net asset value per share and primarily consist of equity and fixed income funds. The equity funds primarily provide exposure to U.S. and international equities, real estate and commodities. The fixed income funds primarily provide exposure to high-yield securities and emerging market fixed income instruments. Mutual funds measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy and are being presented in the tables above to permit a reconciliation of the fair value hierarchy to the Consolidated Balance Sheet. Common/Collective trusts primarily consist of equity and fixed income funds and are valued using the closing market price reported on the active market on which the fund is traded or at net asset value per share. Common/Collective trust investments can be redeemed without restriction after giving appropriate notice to the issuer. Generally, redemption of the entire investment balance requires a 60 -day notice period. The equity funds provide exposure to large, mid and small cap U.S. equities, international large and small cap equities and emerging market equities. The fixed income funds provide exposure to U.S., international and emerging market debt securities. Common/Collective trusts measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy and are being presented in the tables above to permit a reconciliation of the fair value hierarchy to the Consolidated Balance Sheet. Limited Partnerships primarily consist of hedge funds valued using a net asset value per share and provide exposure to a variety of hedging strategies including long/short equity, relative value, event driven and global macro. Limited Partnership investments can be redeemed either monthly or quarterly and without restriction after giving appropriate notice to the issuer. Redemption of the entire investment balance generally requires no more than a 95 -day notice period. Limited Partnerships measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy and are being presented in the tables above to permit a reconciliation of the fair value hierarchy to the Consolidated Balance Sheet. Miscellaneous primarily includes real estate funds, insurance contracts held in the asset portfolio of the Company's non-U.S. defined benefit pension plans, and net payables for securities purchased but not settled in the asset portfolio of the Company's U.S. defined benefit pension plans. Insurance contracts are valued at the present value of future cash flows promised under the terms of the insurance contracts. The primary investment objective of equity securities and equity funds, within both the mutual fund and common/collective trust asset class, is to obtain capital appreciation in an amount that at least equals various market-based benchmarks. The primary investment objective of fixed income securities and fixed income funds, within both the mutual fund and common/collective trust asset class, is to provide for a constant stream of income while preserving capital. The primary investment objective of limited partnerships is to achieve capital appreciation through an investment program focused on specialized investment strategies. The primary investment objective of insurance contracts, included in the miscellaneous asset class, is to provide a stable rate of return over a specified period of time. Employee Savings Plan - The Company sponsors an employee stock ownership plan (ESOP) as part of its existing savings and investment 401(k) plan. The ESOP is available to eligible domestic employees. Company matching contributions, up to a maximum of four percent of an employee's annual compensation, are recorded as compensation expense. Participants may direct company matching contributions to any investment option within the savings and investment 401(k) plan. 2018 2017 2016 Shares held by ESOP 6,476,154 6,911,436 7,728,332 Company matching contributions $ 65,262 $ 57,766 $ 58,922 In addition to shares within the ESOP, as of June 30, 2018 , employees have elected to invest in 1,870,286 shares of common stock within a company stock fund of the savings and investment 401(k) plan. The Company has a retirement income account (RIA) within the employee savings plan. The Company makes a cash contribution to the participant's RIA each year, the amount of which is based on the participant's age and years of service. Participants do not contribute to the RIA. The Company recognized $29,023 , $29,309 and $25,780 in expense related to the RIA in 2018 , 2017 and 2016 , respectively. During 2017, the Company assumed various defined contribution plans previously sponsored by Clarcor. The Company recognized expense of $4,481 and $2,199 in 2018 and 2017 , respectively, related to these defined contribution plans. In January 2018, the former employees of Clarcor became eligible to participate in the savings and investment 401(k) plan. Other Postretirement Benefits - The Company provides postretirement medical and life insurance benefits to certain retirees and eligible dependents. Most plans are contributory, with retiree contributions adjusted annually. The plans are unfunded and pay stated percentages of covered medically necessary expenses incurred by retirees, after subtracting payments by Medicare or other providers and after stated deductibles have been met. For most plans, the Company has established cost maximums to more effectively control future medical costs. The Company has reserved the right to change these benefit plans. The Company recognized $2,755 , $4,357 and $8,754 in expense related to other postretirement benefits in 2018 , 2017 and 2016 , respectively. During 2016, the Company provided enhanced retirement benefits in connection with a plant closure, which resulted in an increase in expense related to other postretirement benefits of $4,521 . 2018 2017 Change in benefit obligation Benefit obligation at beginning of year $ 79,933 $ 89,785 Service cost 320 469 Interest cost 2,003 1,922 Acquisition — 291 Actuarial gain (11,259 ) (8,235 ) Benefits paid (4,476 ) (4,299 ) Benefit obligation at end of year $ 66,521 $ 79,933 Funded status $ (66,521 ) $ (79,933 ) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (6,180 ) $ (6,532 ) Pensions and other postretirement benefits (60,341 ) (73,401 ) Net amount recognized $ (66,521 ) $ (79,933 ) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial loss $ 1,232 $ 12,828 Prior service credit (314 ) (435 ) Net amount recognized $ 918 $ 12,393 The presentation of the amounts recognized on the Consolidated Balance Sheet and in accumulated other comprehensive (loss) is on a debit (credit) basis and is before the effect of income taxes. The amount of net actuarial loss and prior service credit that will be amortized from accumulated other comprehensive (loss) into net periodic postretirement cost in 2019 is $14 and $(121) , respectively. The assumptions used to measure the net periodic benefit cost for postretirement benefit obligations are: 2018 2017 2016 Discount rate 3.46 % 3.15 % 3.96 % Current medical cost trend rate (Pre-65 participants) 8.19 % 7.35 % 7.61 % Current medical cost trend rate (Post-65 participants) 9.79 % 8.68 % 9.00 % Ultimate medical cost trend rate 4.50 % 4.50 % 4.50 % Medical cost trend rate decreases to ultimate in year 2025 2025 2025 The discount rate assumption used to measure the benefit obligation was 3.92 percent in 2018 and 3.46 percent in 2017 . Estimated future benefit payments for other postretirement benefits in the five years ending June 30, 2019 through 2023 are $6,463 , $6,358 , $5,967 , $5,804 and $5,564 , respectively, and $24,842 in the aggregate for the five years ending June 30, 2024 through June 30, 2028. A one percentage point change in assumed health care cost trend rates would not have a material effect on the benefit cost or benefit obligation. Other - The Company has established nonqualified deferred compensation programs, which permit officers, directors and certain management employees annually to elect to defer a portion of their compensation, on a pre-tax basis, until their retirement. The retirement benefit to be provided is based on the amount of compensation deferred, Company matching contributions and earnings on the deferrals. In addition, the Company maintains a defined contribution nonqualified supplemental executive pension plan in which the Company is the only contributor. During 2018 , 2017 and 2016 , the Company recorded expense (income) relating to these programs of $13,420 , $20,400 and $(2,917) , respectively. The Company has invested in corporate-owned life insurance policies to assist in meeting the obligation under these programs. The policies are held in a rabbi trust and are recorded as assets of the Company.

Equity

Equity	12 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Equity	Equity Changes in accumulated other comprehensive (loss) in shareholders' equity by component: Foreign Currency Translation Adjustment and Other Retirement Benefit Plans Total Balance June 30, 2016 $ (844,121 ) $ (1,383,644 ) $ (2,227,765 ) Other comprehensive income (loss) before reclassifications (80,189 ) 242,414 162,225 Amounts reclassified from accumulated other comprehensive (loss) (1,032 ) 142,368 141,336 Balance June 30, 2017 $ (925,342 ) $ (998,862 ) $ (1,924,204 ) Other comprehensive income (loss) before reclassifications (10,141 ) 76,417 66,276 Amounts reclassified from accumulated other comprehensive (loss) (7,994 ) 102,836 94,842 Balance June 30, 2018 $ (943,477 ) $ (819,609 ) $ (1,763,086 ) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2018 : Details about Accumulated Other Comprehensive (Loss) Components Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) Consolidated Statement of Income Classification Retirement benefit plans Amortization of prior service cost and initial net obligation $ (6,467 ) See Note 10 Recognized actuarial loss (147,611 ) See Note 10 Total before tax (154,078 ) Tax benefit 51,242 Income taxes Net of tax $ (102,836 ) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2017 : Details about Accumulated Other Comprehensive (Loss) Components Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) Consolidated Statement of Income Classification Retirement benefit plans Amortization of prior service cost and initial net obligation $ (8,014 ) See Note 10 Recognized actuarial loss (214,284 ) See Note 10 Total before tax (222,298 ) Tax benefit 79,930 Income taxes Net of tax $ (142,368 ) Share Repurchases - The Company has a program to repurchase its common shares. On October 22, 2014, the Board of Directors of the Company approved an increase in the overall number of shares authorized to repurchase under the program so that, beginning on such date, the aggregate number of shares authorized for repurchase was 35 million . There is no limitation on the number of shares that can be repurchased in a year. Repurchases may be funded primarily from operating cash flows and commercial paper borrowings and the shares are initially held as treasury shares. The number of common shares repurchased at the average purchase price follows: 2018 2017 2016 Shares repurchased 1,738,234 1,976,778 5,121,051 Average price per share including commissions $ 172.59 $ 133.90 $ 108.87

Stock Incentive Plans

Stock Incentive Plans	12 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Incentive Plans	Stock Incentive Plans The Company's 2016 Omnibus Stock Incentive Plan provides for the granting of share-based incentive awards in the form of nonqualified stock options, stock appreciation rights (SARs), restricted stock units (RSUs) and restricted and unrestricted stock to officers and key employees of the Company. The aggregate number of shares authorized for issuance under the 2016 Omnibus Stock Incentive Plan is 16 million . At June 30, 2018 , 11.6 million common shares were available for future issuance. The Company satisfies share-based incentive award obligations by issuing shares of common stock out of treasury, which have been repurchased pursuant to the Company's share repurchase program described in Note 11, or through the issuance of previously unissued common stock. SARs - Upon exercise, SARs entitle the participant to receive shares of common stock equal to the increase in value of the award between the grant date and the exercise date. SARs are exercisable from one to three years after the date of grant and expire no more than 10 years after grant. The fair value of each SAR award granted in 2018 , 2017 and 2016 was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions: 2018 2017 2016 Risk-free interest rate 1.9 % 1.4 % 1.9 % Expected life of award 5.2 years 5.3 years 5.4 years Expected dividend yield of stock 2.0 % 2.0 % 1.9 % Expected volatility of stock 23.4 % 28.5 % 28.7 % Weighted-average fair value $ 29.71 $ 27.39 $ 26.88 The risk-free interest rate was based on U.S. Treasury yields with a term similar to the expected life of the award . The expected life of the award was derived by referring to actual exercise and post-vesting employment termination experience. The expected dividend yield was based on the Company's historical dividend rate and stock price over a period similar to the expected life of the award. The expected volatility of stock was derived by referring to changes in the Company's historical common stock prices over a time-frame similar to the expected life of the award. SAR activity during 2018 is as follows (aggregate intrinsic value in millions): Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding June 30, 2017 6,533,406 $ 94.18 Granted 907,626 $ 158.79 Exercised (1,351,120 ) $ 78.61 Canceled (43,031 ) $ 146.84 Outstanding June 30, 2018 6,046,881 $ 106.98 5.8 years $ 298.1 Exercisable June 30, 2018 4,168,672 $ 92.74 4.6 years $ 263.1 A summary of the status and changes of shares subject to SAR awards and the related average price per share follows: Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2017 1,947,569 $ 27.80 Granted 907,626 $ 29.71 Vested (933,955 ) $ 28.33 Canceled (43,031 ) $ 28.34 Nonvested June 30, 2018 1,878,209 $ 28.44 At June 30, 2018 , $13,458 of expense with respect to nonvested SAR awards has yet to be recognized and will be amortized into expense over a weighted-average period of approximately 17 months . The total fair value of shares vested during 2018 , 2017 and 2016 was $26,461 , $33,094 and $34,706 , respectively. Information related to SAR awards exercised during 2018 , 2017 and 2016 is as follows: 2018 2017 2016 Net cash proceeds $ 3,682 $ 2,202 $ 126 Intrinsic value 136,000 153,908 40,612 Income tax benefit 28,701 31,193 7,188 During 2018 , 2017 and 2016 , the Company recognized stock-based compensation expense of $27,422 , $28,535 and $28,129 , respectively, relating to SAR awards. The Company derives a tax deduction measured by the excess of the market value over the grant price at the date stock-based awards are exercised. The related income tax benefit was credited to income tax expense in 2018 and 2017 and to additional capital in 2016 . Shares surrendered upon exercise of SARs: 2018 - 269,670 ; 2017 - 371,246 ; 2016 - 158,808 . RSUs - RSUs constitute an agreement to deliver shares of common stock to the participant at the end of a vesting period. Generally, the RSUs granted to employees vest and the underlying stock is issued ratably over a three -year graded vesting period. Nonvested RSUs may not be transferred and do not have dividend or voting rights. For each nonvested RSU, recipients are entitled to receive a dividend equivalent, payable in cash or common shares, equal to the cash dividend per share paid to common shareholders. The fair value of each RSU award granted in 2018 , 2017 and 2016 was based on the fair market value of the Company's common stock on the date of grant. A summary of the status and changes of shares subject to RSU awards for employees and the related average price per share follows: Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2017 394,329 $ 120.92 Granted 157,086 $ 159.26 Vested (176,855 ) $ 116.94 Canceled (13,949 ) $ 139.61 Nonvested June 30, 2018 360,611 $ 138.85 During 2018 , 2017 and 2016 , the Company recognized stock-based compensation expense of $ 24,073 , $ 23,025 and $21,190 respectively, relating to RSU awards for employees. At June 30, 2018 , $18,627 of expense with respect to nonvested RSU awards has yet to be recognized and will be amortized into expense over a weighted-average period of approximately 21 months . The total fair value of RSU awards vested during 2018 , 2017 and 2016 was $ 20,681 , $ 21,576 and $21,173 , respectively. The Company recognized an income tax benefit of $ 2,451 , $939 and $870 relating to the issuance of common stock for RSU awards that vested during 2018 , 2017 and 2016 , respectively. During 2018 , 2017 and 2016 , 9,900 , 12,430 and 14,404 RSU awards, respectively, with a one -year vesting period were granted to non-employee members of the Board of Directors. Although nonvested shares do not have dividend or voting rights, recipients receive a dividend equivalent payable in common shares, equal to the cash dividend per share paid to common shareholders. In 2018 , 2017 and 2016 , the Company recognized stock-based compensation expense of $1,697 , $1,560 , and $824 , respectively, relating to these awards. At June 30, 2018 , $596 of expense with respect to 9,845 nonvested RSU awards granted to the Board of Directors has yet to be recognized and will be amortized into expense over a weighted-average period of approximately four months . During 2018 and 2017 , the Company recognized an income tax benefit of $270 and $105 , respectively, related to the vesting of 12,639 and 13,740 RSU awards, respectively, issued to the Board of Directors. LTIP - The Company's Long Term Incentive Plans (LTIP) provide for the issuance of unrestricted stock to certain officers and key employees based on the attainment of certain goals relating to the Company's revenue growth, earnings per share growth and return on invested capital during the three -year performance period. No dividends or dividend equivalents are paid on unearned shares. Stock issued for LTIP 2018 2017 2016 LTIP three-year plan 2015-16-17 2014-15-16 2013-14-15 Number of shares issued 308,278 227,707 175,291 Share value on date of issuance $ 176.39 $ 157.07 $ 113.91 Total value $ 54,377 $ 35,766 $ 19,967 Under the Company's 2016-17-18 LTIP, a payout of unrestricted stock will be issued in April 2019 . The fair value of each LTIP award granted in 2018 , 2017 and 2016 was based on the fair market value of the Company's common stock on the date of grant. A summary of the status and changes of shares relating to the LTIP and the related average price per share follows: Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2017 734,744 $ 119.56 Granted 191,986 $ 206.99 Vested (256,071 ) $ 122.11 Canceled (12,388 ) $ 128.63 Nonvested June 30, 2018 658,271 $ 143.90 During 2018 , 2017 and 2016 , the Company recorded stock-based compensation expense of $65,640 , $27,219 and $21,150 , respectively, relating to the LTIP. During 2018 , 2017 and 2016 , the Company recognized an income tax benefit of $3,893 , $1,701 and $3,119 , respectively, relating to the LTIP. Shares surrendered in connection with the LTIP: 2018 - 139,918 ; 2017 - 113,074 ; 2016 - 78,173 . Restricted Shares - Prior to 2016, the Company issued restricted shares to non-employee members of the Board of Directors. The fair value of the restricted shares was based on the fair market value of the Company's common stock on the date of grant. During 2016, the Company recognized expense of $468 and tax cost of $(32) related to restricted shares.

Research and Development

Research and Development	12 Months Ended
	Jun. 30, 2018
Research and Development [Abstract]
Research and Development	Research and Development Research and development costs amounted to $327,877 in 2018 , $336,675 in 2017 and $359,796 in 2016 . These amounts include both costs incurred by the Company related to independent research and development initiatives as well as costs incurred in connection with research and development contracts. Costs incurred in connection with research and development contracts amounted to $40,823 in 2018 , $65,292 in 2017 and $57,999 in 2016 . These costs are included in the total research and development cost for each of the respective years.

Financial Instruments

Financial Instruments	12 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments The Company’s financial instruments consist primarily of cash and cash equivalents, marketable securities and other investments, accounts receivable and long-term investments as well as obligations under accounts payable, trade, notes payable and long-term debt. Due to their short-term nature, the carrying values for cash and cash equivalents, accounts receivable, accounts payable, trade and notes payable approximate fair value. Marketable securities and other investments include deposits, which are recorded at cost, and investments classified as available-for-sale, which are recorded at fair value with unrealized gains and losses recorded in accumulated other comprehensive (loss). Gross unrealized gains and losses were not material as of June 30, 2018 and 2017 . There were no facts or circumstances that indicated the unrealized losses were other than temporary. The contractual maturities of available-for-sale investments were predominantly one to three years at June 30, 2018 and 2017 . Actual maturities of available-for-sale investments may differ from their contractual maturities as the Company has the ability to liquidate the available-for-sale investments after giving appropriate notice to the issuer. The carrying value of long-term debt and estimated fair value of long-term debt at June 30 are as follows: 2018 2017 Carrying value of long-term debt $ 4,460,402 $ 5,383,343 Estimated fair value of long-term debt 4,548,796 5,645,529 The fair value of long-term debt was determined based on observable market prices in the active market in which the security is traded and is classified within level 2 of the fair value hierarchy. The Company utilizes derivative and non-derivative financial instruments, including forward exchange contracts, costless collar contracts, cross-currency swap contracts and certain foreign denominated debt designated as net investment hedges, to manage foreign currency transaction and translation risk. The derivative financial instrument contracts are with major investment grade financial institutions and the Company does not anticipate any material non-performance by any of the counterparties. The Company does not hold or issue derivative financial instruments for trading purposes. The Company’s € 700 million aggregate principal amount of Senior Notes due 2025 have been designated as a hedge of the Company’s net investment in certain foreign subsidiaries. The translation of the Senior Notes due 2025 into U.S. dollars is recorded in accumulated other comprehensive (loss) and remains there until the underlying net investment is sold or substantially liquidated. Derivative financial instruments are recognized on the Consolidated Balance Sheet as either assets or liabilities and are measured at fair value. The location and fair value of derivative financial instruments reported in the Consolidated Balance Sheet are as follows: Balance Sheet Caption 2018 2017 Net investment hedges Cross-currency swap contracts Other assets $ 7,614 $ 15,135 Cash flow hedges Costless collar contracts Non-trade and notes receivable 932 430 Costless collar contracts Other accrued liabilities 236 2,027 The cross-currency swap and costless collar contracts are reflected on a gross basis in the Consolidated Balance Sheet. The Company has not entered into any master netting arrangements. Gains or losses on derivatives that are not hedges are adjusted to fair value through the cost of sales caption in the Consolidated Statement of Income. Gains or losses on derivatives that are hedges are adjusted to fair value through accumulated other comprehensive (loss) in the Consolidated Balance Sheet until the hedged item is recognized in earnings. The cross-currency swap contracts have been designated as hedging instruments. The costless collar contracts have not been designated as hedging instruments and are considered to be economic hedges of forecasted transactions. Gains or losses on derivative financial instruments that were recorded in the Consolidated Statement of Income during 2018 , 2017 and 2016 were not material. (Losses) on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) in the Consolidated Balance Sheet are as follows: 2018 2017 Cross-currency swap contracts $ (9,209 ) $ (6,003 ) Foreign denominated debt (9,543 ) (16,175 ) There was no ineffectiveness of the cross-currency swap contracts or foreign denominated debt, nor were any portion of these financial instruments excluded from the effectiveness testing during 2018 , 2017 and 2016 . A summary of financial assets and liabilities that were measured at fair value on a recurring basis at June 30, 2018 and 2017 are as follows: June 30, 2018 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Equity securities $ 2,956 $ 2,956 $ — $ — Corporate bonds 5,331 5,331 — — Asset-backed and mortgage-backed securities 3,911 — 3,911 — Derivatives 14,110 — 14,110 — Investments measured at net asset value 7,208 Liabilities: Derivatives 5,315 — 5,315 — June 30, 2017 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Equity securities $ 3,008 $ 3,008 $ — $ — Corporate bonds 5,968 5,968 — — Asset-backed and mortgage-backed securities 4,762 — 4,762 — Derivatives 16,496 — 16,496 — Investments measured at net asset value 7,073 Liabilities: Derivatives 16,064 — 16,064 — The fair values of the equity securities, corporate bonds and asset-backed and mortgage-backed securities are determined using the closing market price reported in the active market in which the fund is traded or the market price for similar assets that are traded in an active market. Derivatives consist of forward exchange, costless collar and cross-currency swap contracts, the fair values of which are calculated using market observable inputs including both spot and forward prices for the same underlying currencies. The calculation of fair value of the cross-currency swap contracts also utilizes a present value cash flow model that has been adjusted to reflect the credit risk of either the Company or the counterparty. Investments measured at net asset value primarily consist of investments in fixed income mutual funds, which are measured at fair value using the net asset value per share practical expedient. These investments have not been categorized in the fair value hierarchy. The Company has the ability to liquidate these investments after giving appropriate notice to the issuer. The primary investment objective for all investments is the preservation of principal and liquidity while earning income. There are no other financial assets or financial liabilities that are marked to market on a recurring basis. Fair values are transferred between levels of the fair value hierarchy when facts and circumstances indicate that a change in the method of estimating the fair value of a financial asset or financial liability is warranted.

Contingencies

Contingencies	12 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is involved in various litigation matters arising in the normal course of business, including proceedings based on product liability claims, workers' compensation claims and alleged violations of various environmental laws. The Company is self-insured in the United States for health care, workers' compensation, general liability and product liability up to predetermined amounts, above which third party insurance applies. Management regularly reviews the probable outcome of these proceedings, the expenses expected to be incurred, the availability and limits of the insurance coverage and the established accruals for liabilities. While the outcome of pending proceedings cannot be predicted with certainty, management believes that any liabilities that may result from these proceedings will not have a material adverse effect on the Company's liquidity, financial condition or results of operations. Environmental - The Company is currently responsible for environmental remediation at various manufacturing facilities presently or formerly operated by the Company and has been named as a “potentially responsible party,” along with other companies, at off-site waste disposal facilities and regional sites. As of June 30, 2018 , the Company had an accrual of $18,024 for environmental matters, which are probable and reasonably estimable. The accrual is recorded based upon the best estimate of costs to be incurred in light of the progress made in determining the magnitude of remediation costs, the timing and extent of remedial actions required by governmental authorities and the amount of the Company's liability in proportion to other responsible parties. The Company's estimated total liability for environmental matters ranges from a minimum of $18.0 million to a maximum of $81.0 million . The largest range for any one site is approximately $9.5 million . The actual costs to be incurred by the Company will be dependent on final determination of contamination and required remedial action, negotiations with governmental authorities with respect to cleanup levels, changes in regulatory requirements, innovations in investigatory and remedial technologies, effectiveness of remedial technologies employed, the ability of other responsible parties to pay, and any insurance or other third-party recoveries.

Quarterly Information (Unaudite

Quarterly Information (Unaudited)	12 Months Ended
	Jun. 30, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Information (Unaudited)	Quarterly Information (Unaudited) 2018 1st 2nd 3rd 4th Total Net sales $ 3,364,651 $ 3,370,673 $ 3,749,591 $ 3,817,477 $ 14,302,392 Net income attributable to common shareholders 285,397 56,159 365,989 353,256 1,060,801 Diluted earnings per share 2.10 0.41 2.70 2.62 7.83 2017 1st 2nd 3rd 4th Total Net sales $ 2,743,131 $ 2,670,804 $ 3,119,139 $ 3,496,238 $ 12,029,312 Net income attributable to common shareholders 210,129 241,305 238,673 293,305 983,412 Diluted earnings per share 1.55 1.78 1.75 2.15 7.25 Earnings per share amounts are computed independently for each of the quarters presented, therefore, the sum of the quarterly earnings per share amounts may not equal the total computed for the year.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Jun. 30, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS FOR THE YEARS ENDED June 30, 2016 , 2017 and 2018 (Dollars in Thousands) Column A Column B Column C Column D Column E Description Balance at Beginning Of Period Additions Charged to Costs and Expenses Other (Deductions)/ Additions (A) Balance At End Of Period Allowance for doubtful accounts: Year ended June 30, 2016 $ 9,284 $ 1,419 $ (2,693 ) $ 8,010 Year ended June 30, 2017 $ 8,010 $ 3,559 $ 2,767 $ 14,336 Year ended June 30, 2018 $ 14,336 $ 2,861 $ (7,525 ) $ 9,672 Deferred tax asset valuation allowance: Year ended June 30, 2016 $ 330,006 $ 2,702 $ — $ 332,708 Year ended June 30, 2017 $ 332,708 $ 349,803 $ 1,568 $ 684,079 Year ended June 30, 2018 $ 684,079 $ 10,778 $ — $ 694,857 (A) For allowance for doubtful accounts, net balance is comprised of deductions due to divestitures or uncollectible accounts charged off, additions due to acquisitions or recoveries, and currency translation adjustments. For deferred tax asset valuation allowance, the balance primarily represents adjustments due to acquisitions.

Significant Accounting Polici28

Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations - The Company is a leading worldwide diversified manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. The Company evaluates performance based on segment operating income before corporate administrative expenses, interest expense and income taxes. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment. Diversified Industrial Segment products are marketed primarily through field sales employees and independent distributors. The Diversified Industrial North American operations have manufacturing plants and distribution networks throughout the United States, Canada and Mexico and primarily service North America. The Diversified Industrial International operations provide Parker products and services to 47 countries throughout Europe, Asia Pacific, Latin America, the Middle East and Africa. The Aerospace Systems Segment produces hydraulic, fuel, pneumatic and electro-mechanical systems and components, which are utilized on virtually every domestic commercial, military and general aviation aircraft and also performs a vital role in naval vessels and land-based weapons systems. This segment serves original equipment and maintenance, repair and overhaul customers worldwide. Aerospace Systems Segment products are marketed by field sales employees and are sold directly to manufacturers and end users. There are no individual customers to whom sales are more than three percent of the Company's consolidated sales. Due to the diverse group of customers throughout the world, the Company does not consider itself exposed to any concentration of credit risks. The Company manufactures and markets its products throughout the world. Although certain risks and uncertainties exist, the diversity and breadth of the Company's products and geographic operations mitigate the risk that adverse changes with respect to any particular product and geographic operation would materially affect the Company's operating results.
Use of Estimates	Use of Estimates - The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Basis of Consolidation	Basis of Consolidation - The consolidated financial statements include the accounts of all majority-owned domestic and foreign subsidiaries. All intercompany transactions and profits have been eliminated in the consolidated financial statements. The Company does not have off-balance sheet arrangements. Within the Business Segment Information, intersegment and interarea sales have been eliminated.
Revenue Recognition	Revenue Recognition - Revenue is recognized when persuasive evidence of an arrangement exists, product has shipped and the risks and rewards of ownership have transferred or services have been rendered, the price to the customer is fixed and determinable and collectibility is reasonably assured, which is generally at the time the product is shipped. Shipping and handling costs billed to customers are included in net sales and the related costs in cost of sales. Taxes collected from customers and remitted to governmental authorities are excluded from revenue.
Long-term Contracts	Long-term Contracts - The Company enters into long-term contracts primarily for the production of aerospace products. For financial statement purposes, revenues are primarily recognized using the percentage-of-completion method. The extent of progress toward completion is primarily measured using the units-of-delivery method. Unbilled costs on these contracts are included in inventory. Progress payments are netted against the inventory balances. The Company estimates costs to complete long-term contracts for purposes of evaluating and establishing contract reserves. Adjustments to cost estimates are made on a consistent basis and a contract reserve is established when the estimated costs to complete a contract exceed the expected contract revenues.
Cash	Cash - Cash equivalents consist of short-term highly liquid investments, with a three-month or less maturity, carried at cost plus accrued interest, which are readily convertible into cash.
Marketable Securities and Other Investments	Marketable Securities and Other Investments - Consist of short-term highly liquid investments, with stated maturities of greater than three months from the date of purchase, carried at cost plus accrued interest, and investments classified as available-for-sale, which are carried at fair value with unrealized gains and losses recorded in accumulated other comprehensive (loss). Gains and losses on available-for-sale investments are calculated based on the first-in, first-out method. The Company has the ability to liquidate the available-for-sale investments after giving appropriate notice to the issuer.
Trade Accounts Receivable, Net	Trade Accounts Receivable, Net - Trade accounts receivable are initially recorded at their net collectible amount and are generally recorded at the time the revenue from the sales transaction is recorded. Receivables are written off to bad debt primarily when, in the judgment of the Company, the receivable is deemed to be uncollectible due to the insolvency of the debtor. Allowance for doubtful accounts was $9,672 and $14,336 at June 30, 2018 and 2017 , respectively.
Non-Trade and Notes Receivable	Non-Trade and Notes Receivable - The non-trade and notes receivable caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2018 2017 Notes receivable $ 149,254 $ 118,351 Accounts receivable, other 179,145 136,636 Total $ 328,399 $ 254,987
Plant, Equipment and Depreciation	Plant, Equipment and Depreciation - Plant and equipment are recorded at cost and are depreciated principally using the straight-line method for financial reporting purposes. Depreciation rates are based on estimated useful lives of the assets, generally 40 years for buildings, 15 years for land improvements and building equipment, seven to 10 years for machinery and equipment, and three to eight years for vehicles and office equipment. Improvements, which extend the useful life of property, are capitalized, and maintenance and repairs are expensed. The Company reviews plant and equipment for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. When plant and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the appropriate accounts and any gain or loss is included in current income. The plant and equipment caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2018 2017 Land and land improvements $ 289,686 $ 321,331 Buildings and building equipment 1,578,701 1,575,464 Machinery and equipment 3,218,639 3,167,885 Construction in progress 128,227 122,068 Total $ 5,215,253 $ 5,186,748
Investments and Other Assets	Investments and Other Assets - Investments in joint-venture companies in which ownership is 50 percent or less and in which the Company does not have operating control are stated at cost plus the Company's equity in undistributed earnings and amounted to $304,389 and $341,869 at June 30, 2018 and 2017 , respectively. A significant portion of the underlying net assets of the joint ventures are related to goodwill. The Company's share of earnings from investments in joint-venture companies were $50,473 , $42,352 and $25,650 in 2018 , 2017 and 2016 , respectively.
Intangible Assets	Intangible Assets - Intangible assets primarily include patents, trademarks and customer lists and are recorded at cost and amortized on a straight-line method. Patents are amortized over the shorter of their remaining useful or legal life. Trademarks are amortized over the estimated time period over which an economic benefit is expected to be received. Customer lists are amortized over a period based on anticipated customer attrition rates. The Company reviews intangible assets for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable.
Goodwill	Goodwill - The Company conducts a formal impairment test of goodwill on an annual basis and between annual tests if an event occurs or circumstances change that would, more likely than not, reduce the fair value of a reporting unit below its carrying value.
Income Taxes	Income Taxes - Income taxes are provided based upon income for financial reporting purposes. Tax credits and similar tax incentives are applied to reduce the provision for income taxes in the year in which the credits arise. The Company recognizes accrued interest related to unrecognized tax benefits in income tax expense. Penalties, if incurred, are recognized in income tax expense. Deferred income taxes arise from temporary differences in the recognition of income and expense for tax purposes.
Foreign Currency Translation	Foreign Currency Translation - Assets and liabilities of foreign subsidiaries are translated at current exchange rates, and income and expenses are translated using weighted-average exchange rates. The effects of these translation adjustments, as well as gains and losses from certain intercompany transactions, are reported in the accumulated other comprehensive (loss) component of shareholders' equity. Such adjustments will affect net income only upon sale or liquidation of the underlying foreign investments. Exchange losses (gains) from transactions in a currency other than the local currency of the entity involved are included within the cost of sales caption in the Consolidated Statement of Income and were $7,284 , $8,060 and $22,750 , in 2018 , 2017 and 2016 , respectively.
Subsequent Events	Subsequent Events - The Company has evaluated subsequent events that have occurred through the date of filing of this Annual Report on Form 10-K for the year ended June 30, 2018 . No subsequent events occurred that required adjustment to or disclosure in these financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements - In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, "Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." ASU 2018-02 allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the TCJ Act reduction of the U.S. federal corporate income tax rate. The amendments also require certain disclosures about stranded tax effects. ASU 2018-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted in any period after the issuance of the update. The amendments in this update should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the TCJ Act is recognized. The Company has not yet determined the effect that ASU 2018-02 will have on its financial statements. In August 2017, the FASB issued ASU 2017-12, "Targeted Improvements to Accounting for Hedging Activities." ASU 2017-12 provides targeted improvements to Topic 815 accounting for hedging activities by expanding an entity’s ability to hedge non-financial and financial risk components and reduce complexity in fair value hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. ASU 2017-12 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early application is permitted in any interim period after issuance of the update. ASU 2017-12 should be applied using a modified retrospective approach for cash flow and net investment hedge relationships that exist on the date of adoption and prospectively for presentation and disclosure requirements. The Company has not yet determined the effect that ASU 2017-12 will have on its financial statements. In May 2017, the FASB issued ASU 2017-09, "Scope of Modification Accounting." ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. An entity should account for the effects of a modification unless all of the following are met: (1) the fair value of the modified award is the same as fair value of the original award; (2) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and (3) the classification of the award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. ASU 2017-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted. ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. During the first quarter of fiscal 2018, the Company adopted ASU 2017-09. The adoption of ASU 2017-09 did not affect the Company's financial statements as there were no modifications of any share-based awards during 2018. In March 2017, the FASB issued ASU 2017-07, "Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." ASU 2017-07 requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. ASU 2017-07 also provides that only the service cost component is eligible for capitalization, when applicable. ASU 2017-07 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. ASU 2017-07 should be applied retrospectively for the income statement presentation of net periodic pension cost and net periodic postretirement benefit cost and prospectively, on or after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit cost. The Company expects that adoption of this standard will result in a reclassification of expense from cost of sales and selling, general and administrative expenses to other (income) of approximately $25 million and $17 million , respectively, for 2018 and $70 million and $41 million , respectively, for 2017. In January 2017, the FASB issued ASU 2017-04, "Simplifying the Test for Goodwill Impairment." ASU 2017-04 eliminates Step 2 from the goodwill impairment test. Under the amendments in this Update, an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 also eliminates the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. During the first quarter of 2018, the Company adopted ASU 2017-04. The adoption of ASU 2017-04 did not affect the Company's financial statements as there were no instances of a reporting unit's carrying value exceeding its fair value for any goodwill impairment tests performed during 2018. In October 2016, the FASB issued ASU 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory." ASU 2016-16 provides that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Consequently, the amendments in ASU 2016-16 eliminate the exception for an intra-entity transfer of an asset other than inventory. ASU 2016-16 is effective for fiscal years, and interim periods within those years, beginning after December 31, 2017. Early adoption is permitted. The Company expects that the cumulative effect of the adoption of ASU 2016-16 will result in a reduction to retained earnings of approximately $18 million . In August 2016, the FASB issued ASU 2016-15, "Classification of Certain Cash Receipts and Cash Payments." ASU 2016-15 provides specific guidance on several cash flow classification issues to reduce diversity in practice in how certain transactions are classified within the statement of cash flows. ASU 2016-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. After consideration of the current level of transactions within the scope of ASU 2016-15, the Company does not expect that the retrospective adoption of this standard at the beginning of the first quarter of 2019 will have a material impact on its financial statements. In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments." ASU 2016-13 requires a financial asset (or a group of financial assets) measured at amortized cost to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. Credit losses relating to available-for-sale debt securities should be recorded through an allowance for credit losses. ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted. The Company has not yet determined the effect that ASU 2016-13 will have on its financial statements. In February 2016, the FASB issued ASU 2016-02, "Leases." ASU 2016-02 requires lessees to put most leases with terms greater than 12 months on their balance sheet by recognizing a liability to make lease payments and an asset representing their right to use the asset during the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election, by class of underlying asset, not to recognize the corresponding assets and lease liabilities. Lessee recognition, measurement, and presentation of expenses and cash flows will not change significantly from existing guidance and lessor accounting is largely unchanged. ASU 2016-02 also changes the definition of a lease and requires qualitative, and quantitative disclosures that provide information about the amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. Adoption of this ASU is planned for the beginning of the first quarter of 2020. The Company has not yet determined the effect that ASU 2016-02 will have on its financial statements. In January 2016, the FASB issued ASU 2016-01, "Recognition and Measurement of Financial Assets and Liabilities." ASU 2016-01 requires equity investments (excluding equity method investments and investments that are consolidated) to be measured at fair value with changes in fair value recognized in net income. Equity investments that do not have a readily determinable fair value may be measured at cost, adjusted for impairment and observable price changes. ASU 2016-01 also simplifies the impairment assessment of equity investments, eliminates the disclosure of the assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at cost on the balance sheet and requires the exit price to be used when measuring fair value of financial instruments for disclosure purposes. Under ASU 2016-01, changes in fair value (resulting from instrument-specific credit risk) will be presented separately in other comprehensive income for liabilities measured using the fair value option. Financial assets and liabilities will be presented separately by measurement category and type, either on the balance sheet or in the financial statement disclosures. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company does not expect that the retrospective adoption of ASU 2016-01 at the beginning of the first quarter of 2019 will have a material impact on its financial statements. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers." ASU 2014-09 requires revenue recognition to depict the transfer of goods or services to customers in an amount that reflects the consideration that a company expects to be entitled to in exchange for the goods or services. To achieve this principle, a company must apply five steps including identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when (or as) the company satisfies the performance obligations. Additional quantitative and qualitative disclosure to enhance the understanding about the nature, amount, timing, and uncertainty of revenue and cash flows is also required. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. In April 2016, the FASB issued ASU 2016-10, "Identifying Performance Obligations and Licensing." ASU 2016-10 clarifies the following two aspects of ASU 2014-09: identifying performance obligations and licensing implementation guidance. The effective date of ASU 2016-10 is the same as the effective date of ASU 2014-09. The Company has elected to adopt ASU 2014-09 using the modified retrospective method. The Company does not expect that the cumulative effect of the adoption of ASU 2014-09 at the beginning of the first quarter of 2019 will have a material impact on retained earnings. We expect to provide the required additional disclosures in periods subsequent to the adoption.

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Business segment information	(Dollars in thousands) 2018 2017 2016 Net Sales: Diversified Industrial: North America $ 6,726,900 $ 5,366,809 $ 4,955,211 International 5,259,793 4,377,776 4,145,272 Aerospace Systems 2,315,699 2,284,727 2,260,270 $ 14,302,392 $ 12,029,312 $ 11,360,753 Segment Operating Income: Diversified Industrial: North America $ 1,076,021 $ 873,552 $ 789,667 International 765,188 579,207 448,457 Aerospace Systems 397,970 337,496 337,531 Total segment operating income 2,239,179 1,790,255 1,575,655 Corporate administration 200,901 172,632 173,203 Income before interest expense and other expense 2,038,278 1,617,623 1,402,452 Interest expense 213,873 162,436 136,517 Other expense 122,128 126,546 151,207 Income before income taxes $ 1,702,277 $ 1,328,641 $ 1,114,728 Assets: Diversified Industrial $ 13,368,619 $ 13,366,981 $ 8,728,671 Aerospace Systems (a) 1,446,745 1,412,707 1,430,577 Corporate 504,723 710,216 1,874,894 $ 15,320,087 $ 15,489,904 $ 12,034,142 Property Additions: Diversified Industrial $ 196,469 $ 148,765 $ 134,618 Aerospace Systems 15,225 16,929 10,857 Corporate 35,973 38,054 3,932 $ 247,667 $ 203,748 $ 149,407 Depreciation: Diversified Industrial $ 211,648 $ 176,823 $ 163,014 Aerospace Systems 16,737 17,484 18,469 Corporate 9,421 8,561 8,825 $ 237,806 $ 202,868 $ 190,308 (Dollars in thousands) 2018 2017 2016 By Geographic Area (b) Net Sales: North America $ 8,978,490 $ 7,585,689 $ 7,144,481 International 5,323,902 4,443,623 4,216,272 $ 14,302,392 $ 12,029,312 $ 11,360,753 Long-Lived Assets: North America $ 1,103,308 $ 1,145,127 $ 817,872 International 752,929 792,165 750,228 $ 1,856,237 $ 1,937,292 $ 1,568,100 The accounting policies of the business segments are the same as those described in the Significant Accounting Policies footnote except that the business segment results are prepared on a basis that is consistent with the manner in which the Company’s management disaggregates financial information for internal review and decision-making. (a) Includes an investment in a joint venture in which ownership is 50 percent or less and in which the Company does not have operating control ( 2018 - $235,665 ; 2017 - $240,182 ; 2016 - $241,728 ). (b) Net sales are attributed to countries based on the location of the selling unit. North America includes the United States, Canada and Mexico. No country other than the United States represents greater than 10 percent of consolidated sales. Long-lived assets are comprised of plant and equipment based on physical location.

Significant Accounting Polici30

Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Non-trade and notes receivable	The non-trade and notes receivable caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2018 2017 Notes receivable $ 149,254 $ 118,351 Accounts receivable, other 179,145 136,636 Total $ 328,399 $ 254,987
Plant and equipment	The plant and equipment caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2018 2017 Land and land improvements $ 289,686 $ 321,331 Buildings and building equipment 1,578,701 1,575,464 Machinery and equipment 3,218,639 3,167,885 Construction in progress 128,227 122,068 Total $ 5,215,253 $ 5,186,748

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Initial purchase price allocation and subsequent purchase price adjustments for acquisitions	The initial purchase price allocation for acquisitions in 2017 and 2016 are as follows: 2017 2016 Assets: Accounts receivable $ 263,616 $ 6,793 Inventories 302,422 12,041 Prepaid expenses 18,342 1,350 Deferred income taxes 4,658 — Plant and equipment 376,826 5,647 Intangible and other assets 1,526,909 26,849 Goodwill 2,677,489 31,134 5,170,262 83,814 Liabilities: Notes payable 20,162 720 Accounts payable, trade 84,753 2,536 Accrued payrolls and other compensation 45,942 1,310 Accrued domestic and foreign taxes 5,435 604 Other accrued liabilities 80,515 1,804 Long-term debt 296,240 1,743 Pensions and other postretirement benefits 33,929 — Deferred income taxes 520,389 7,545 Other liabilities 11,878 — Noncontrolling interests 1,822 — 1,101,065 16,262 Net assets acquired $ 4,069,197 $ 67,552
Business acquisition, pro forma information	The following unaudited pro forma information gives effect to the Company's acquisition of Clarcor as if the acquisition had occurred on July 1, 2015, and Clarcor had been included in the Company's results of operations for 2017 and 2016. 2017 2016 Net sales $ 12,935,834 $ 12,772,097 Net income attributable to common shareholders 1,027,693 748,634 Diluted earnings per share 7.58 5.47

Charges Related to Business R32

Charges Related to Business Realignment (Tables)	12 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Business realignment charges	Business realignment charges and acquisition integration costs presented in the Business Segment Information are as follows: 2018 2017 2016 Diversified Industrial $ 78,558 $ 52,939 $ 91,404 Aerospace Systems 3,428 2,674 3,629 Corporate administration — — 2,215 Other expense 1,009 784 116 Work force reductions in connection with such business realignment charges and acquisition integration costs in the Business Segment Information are as follows: 2018 2017 2016 Diversified Industrial 1,757 1,102 3,515 Aerospace Systems 265 89 81 Corporate administration — — 53 The business realignment charges and acquisition integration costs are presented in the Consolidated Statement of Income as follows: 2018 2017 2016 Cost of sales $ 44,949 $ 35,932 $ 76,197 Selling, general and administrative expenses 36,813 19,681 21,051 (Gain) on disposal of assets 1,233 784 116

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income before income taxes	Income before income taxes was derived from the following sources: 2018 2017 2016 United States $ 963,843 $ 722,925 $ 672,907 Foreign 738,434 605,716 441,821 $ 1,702,277 $ 1,328,641 $ 1,114,728
Income taxes	Income taxes include the following: 2018 2017 2016 Federal Current $ 453,821 $ 132,420 $ 235,557 Deferred (23,876 ) 37,316 (45,797 ) Foreign Current 210,385 157,518 113,146 Deferred (17,454 ) (5,319 ) (7,006 ) State and local Current 18,168 17,835 24,495 Deferred (82 ) 5,027 (12,883 ) $ 640,962 $ 344,797 $ 307,512
Effective income tax rate reconciliation to statutory federal rate	A reconciliation of the Company's effective income tax rate to the statutory federal rate follows: 2018 2017 2016 Statutory federal income tax rate 28.1 % 35.0 % 35.0 % State and local income taxes 1.2 1.7 0.6 Tax related to international activities (1.0 ) (5.5 ) (5.2 ) Transition tax related to the TCJ Act 17.5 — — Remeasurement of deferred tax assets and liabilities related to the TCJ Act (4.8 ) — — Cash surrender value of life insurance (0.4 ) (0.9 ) 0.2 Federal manufacturing deduction (1.0 ) (0.9 ) (1.0 ) Research tax credit (0.7 ) (0.8 ) (1.9 ) Share-based compensation (2.2 ) (2.7 ) — Other 1.0 0.1 (0.1 ) Effective income tax rate 37.7 % 26.0 % 27.6 %
Differences comprising the net deferred taxes shown on consolidated balance sheet	The differences comprising the net deferred taxes shown on the Consolidated Balance Sheet at June 30 were as follows: 2018 2017 Retirement benefits $ 340,480 $ 571,022 Other liabilities and reserves 112,935 144,885 Long-term contracts 17,496 61,375 Stock-based compensation 38,535 59,725 Loss carryforwards 679,880 678,486 Unrealized currency exchange gains and losses 27,228 22,212 Inventory (9,612 ) 17,809 Foreign tax credit carryforward — 23,050 Depreciation and amortization (689,320 ) (1,080,218 ) Valuation allowance (694,857 ) (684,079 ) Net deferred tax (liability) $ (177,235 ) $ (185,733 ) Change in net deferred tax asset (liability): Provision for deferred tax $ 41,412 $ (37,024 ) Items of other comprehensive (loss) (65,542 ) (177,655 ) Acquisitions and other 32,628 (521,814 ) Total change in net deferred tax $ 8,498 $ (736,493 )
Reconciliation of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2018 2017 2016 Balance July 1 $ 147,506 $ 139,907 $ 145,688 Additions for tax positions related to current year 4,195 4,735 7,025 Additions for tax positions of prior years 8,333 2,618 2,582 Additions for acquisitions — 3,939 — Reductions for tax positions of prior years (3,790 ) (1,175 ) (627 ) Reductions for settlements (315 ) (3,020 ) (10,284 ) Reductions for expiration of statute of limitations (4,480 ) (2,792 ) (4,142 ) Effect of foreign currency translation 1,642 3,294 (335 ) Balance June 30 $ 153,091 $ 147,506 $ 139,907

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Computation of earnings per share	The reconciliation of the numerator and denominator of basic and diluted earnings per share was as follows: 2018 2017 2016 Numerator: Net income attributable to common shareholders $ 1,060,801 $ 983,412 $ 806,840 Denominator: Basic - weighted-average common shares 133,004,613 133,377,547 135,353,321 Increase in weighted-average common shares from dilutive effect of equity-based awards 2,422,221 2,182,217 1,558,369 Diluted - weighted-average common shares, assuming exercise of equity-based awards 135,426,834 135,559,764 136,911,690 Basic earnings per share $ 7.98 $ 7.37 $ 5.96 Diluted earnings per share $ 7.83 $ 7.25 $ 5.89

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Inventory components	The inventories caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2018 2017 Finished products $ 673,323 $ 642,788 Work in process 765,835 723,133 Raw materials 182,146 183,573 Total $ 1,621,304 $ 1,549,494

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill are as follows: Diversified Industrial Segment Aerospace Systems Segment Total Balance June 30, 2016 $ 2,804,403 $ 98,634 $ 2,903,037 Acquisitions 2,677,489 — 2,677,489 Divestitures (22,618 ) — (22,618 ) Foreign currency translation and other 28,962 8 28,970 Balance June 30, 2017 $ 5,488,236 $ 98,642 $ 5,586,878 Acquisitions 37,489 — 37,489 Divestitures (138,541 ) — (138,541 ) Foreign currency translation and other 18,587 7 18,594 Balance June 30, 2018 $ 5,405,771 $ 98,649 $ 5,504,420
Gross carrying value and accumulated amortization of intangible assets	The gross carrying value and accumulated amortization for each major category of intangible asset at June 30 are as follows: 2018 2017 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Patents $ 265,423 $ 117,440 $ 254,049 $ 100,860 Trademarks 546,905 227,580 553,691 200,413 Customer lists and other 2,482,079 933,867 2,566,983 765,966 Total $ 3,294,407 $ 1,278,887 $ 3,374,723 $ 1,067,239

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt	June 30, 2018 2017 Domestic: Fixed rate medium-term notes, 3.30% to 6.55%, due 2019-2045 $ 2,225,000 $ 2,675,000 Senior Notes, 3.25% to 4.10%, due 2027 - 2047 1,300,000 1,300,000 Term loan, Libor plus 100 bps, due 2020 — 493,750 Foreign: Euro Senior Notes, 1.125%, due 2025 817,810 799,890 Euro Term loan, Libor plus 150 bps, due 2022 116,830 114,270 Other long-term debt 762 433 Deferred debt issuance costs (41,432 ) (47,183 ) Total long-term debt 4,418,970 5,336,160 Less: Long-term debt payable within one year 100,411 474,265 Long-term debt, net $ 4,318,559 $ 4,861,895

Retirement Benefits (Tables)

Retirement Benefits (Tables)	12 Months Ended
	Jun. 30, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of employee stock ownership plan (ESOP)	2018 2017 2016 Shares held by ESOP 6,476,154 6,911,436 7,728,332 Company matching contributions $ 65,262 $ 57,766 $ 58,922
Pension Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of defined benefit plans	A summary of the Company's defined benefit pension plans follows: 2018 2017 2016 Benefit cost Service cost $ 82,993 $ 94,356 $ 94,650 Interest cost 144,339 126,131 181,469 Special termination cost — — 7,088 Settlement cost — — 5,102 Expected return on plan assets (258,490 ) (239,537 ) (221,629 ) Amortization of prior service cost 6,570 8,116 7,470 Amortization of unrecognized actuarial loss 147,387 212,433 170,407 Amortization of initial net obligation 18 18 17 Net periodic benefit cost $ 122,817 $ 201,517 $ 244,574 2018 2017 Change in benefit obligation Benefit obligation at beginning of year $ 5,217,857 $ 5,315,655 Service cost 82,993 94,356 Interest cost 144,339 126,131 Acquisition — 201,283 Plan amendments 2,932 3,265 Divestiture (9,535 ) (851 ) Actuarial gain (182,588 ) (268,370 ) Benefits paid (216,169 ) (250,289 ) Foreign currency translation and other (5,832 ) (3,323 ) Benefit obligation at end of year $ 5,033,997 $ 5,217,857 Change in plan assets Fair value of plan assets at beginning of year $ 3,896,001 $ 3,307,047 Actual gain on plan assets 174,951 341,344 Acquisition — 168,264 Divestiture (12,231 ) — Employer contributions 81,518 330,932 Benefits paid (216,169 ) (250,289 ) Foreign currency translation and other (8,181 ) (1,297 ) Fair value of plan assets at end of year $ 3,915,889 $ 3,896,001 Funded status $ (1,118,108 ) $ (1,321,856 ) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (11,333 ) $ (12,793 ) Pensions and other postretirement benefits (1,106,775 ) (1,309,063 ) Net amount recognized $ (1,118,108 ) $ (1,321,856 ) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial loss $ 1,216,612 $ 1,461,017 Prior service cost 18,900 22,761 Transition obligation 61 77 Net amount recognized $ 1,235,573 $ 1,483,855
Assumptions used to measure periodic benefit cost/benefit obligation	The assumptions used to measure net periodic benefit cost for the Company's significant defined benefit plans are: 2018 2017 2016 U.S. defined benefit plans Discount rate 3.64 % 3.33 % 4.19 % Average increase in compensation 3.89 % 5.02 % 5.14 % Expected return on plan assets 7.5 % 7.5 % 7.5 % Non-U.S. defined benefit plans Discount rate 0.30 to 7.57% 0.23 to 7.75% 0.7 to 6.0% Average increase in compensation 2.0 to 5.5% 2.0 to 5.5% 2.0 to 5.5% Expected return on plan assets 1.0 to 5.75% 1.0 to 5.75% 1.0 to 5.75% The assumptions used to measure the benefit obligation for the Company's significant defined benefit plans are: 2018 2017 U.S. defined benefit plans Discount rate 4.01 % 3.64 % Average increase in compensation 3.65 % 3.89 % Non-U.S. defined benefit plans Discount rate 0.30 to 3.37% 0.30 to 7.57% Average increase in compensation 1.75 to 5.5% 2.0 to 5.5%
Allocation of plan assets	The fair values of pension plan assets at June 30, 2018 and at June 30, 2017 , by asset class, are as follows: June 30, 2018 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 57,307 $ 54,322 $ 2,985 $ — Equity securities U.S. based companies 447,553 447,553 — — Non-U.S. based companies 243,253 243,253 — — Fixed income securities Corporate bonds 225,929 115,534 110,395 — Government issued securities 272,604 184,636 87,968 — Mutual funds Equity funds 176,846 176,846 — — Fixed income funds 179,562 179,562 — — Mutual funds measured at net asset value 232,050 Common/Collective trusts Equity funds 89,578 89,578 — — Fixed income funds 46,620 46,620 — — Common/Collective trusts measured at net asset value 1,737,543 Limited Partnerships measured at net asset value 243,536 Miscellaneous (36,492 ) — (36,492 ) — Total at June 30, 2018 $ 3,915,889 $ 1,537,904 $ 164,856 $ — June 30, 2017 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 76,057 $ 75,370 $ 687 $ — Equity securities U.S. based companies 416,830 416,830 — — Non-U.S. based companies 236,134 236,134 — — Fixed income securities Corporate bonds 176,135 91,982 84,153 — Government issued securities 199,389 144,616 54,773 — Mutual funds Equity funds 306,168 306,168 — — Fixed income funds 204,628 204,628 — — Mutual funds measured at net asset value 233,234 Common/Collective trusts Equity funds 70,389 70,389 — — Fixed income funds 46,003 46,003 — — Common/Collective trusts measured at net asset value 1,677,942 Limited Partnerships measured at net asset value 262,092 Miscellaneous (9,000 ) — (9,000 ) — Total at June 30, 2017 $ 3,896,001 $ 1,592,120 $ 130,613 $ — The weighted-average allocation of the majority of the assets related to defined benefit plans is as follows: 2018 2017 Equity securities 44 % 45 % Debt securities 49 % 47 % Other investments 7 % 8 % 100 % 100 %
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of defined benefit plans	2018 2017 Change in benefit obligation Benefit obligation at beginning of year $ 79,933 $ 89,785 Service cost 320 469 Interest cost 2,003 1,922 Acquisition — 291 Actuarial gain (11,259 ) (8,235 ) Benefits paid (4,476 ) (4,299 ) Benefit obligation at end of year $ 66,521 $ 79,933 Funded status $ (66,521 ) $ (79,933 ) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (6,180 ) $ (6,532 ) Pensions and other postretirement benefits (60,341 ) (73,401 ) Net amount recognized $ (66,521 ) $ (79,933 ) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial loss $ 1,232 $ 12,828 Prior service credit (314 ) (435 ) Net amount recognized $ 918 $ 12,393
Assumptions used to measure periodic benefit cost/benefit obligation	The assumptions used to measure the net periodic benefit cost for postretirement benefit obligations are: 2018 2017 2016 Discount rate 3.46 % 3.15 % 3.96 % Current medical cost trend rate (Pre-65 participants) 8.19 % 7.35 % 7.61 % Current medical cost trend rate (Post-65 participants) 9.79 % 8.68 % 9.00 % Ultimate medical cost trend rate 4.50 % 4.50 % 4.50 % Medical cost trend rate decreases to ultimate in year 2025 2025 2025

Equity (Tables)

Equity (Tables)	12 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Changes in accumulated other comprehensive (loss)	Changes in accumulated other comprehensive (loss) in shareholders' equity by component: Foreign Currency Translation Adjustment and Other Retirement Benefit Plans Total Balance June 30, 2016 $ (844,121 ) $ (1,383,644 ) $ (2,227,765 ) Other comprehensive income (loss) before reclassifications (80,189 ) 242,414 162,225 Amounts reclassified from accumulated other comprehensive (loss) (1,032 ) 142,368 141,336 Balance June 30, 2017 $ (925,342 ) $ (998,862 ) $ (1,924,204 ) Other comprehensive income (loss) before reclassifications (10,141 ) 76,417 66,276 Amounts reclassified from accumulated other comprehensive (loss) (7,994 ) 102,836 94,842 Balance June 30, 2018 $ (943,477 ) $ (819,609 ) $ (1,763,086 )
Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity	Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2018 : Details about Accumulated Other Comprehensive (Loss) Components Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) Consolidated Statement of Income Classification Retirement benefit plans Amortization of prior service cost and initial net obligation $ (6,467 ) See Note 10 Recognized actuarial loss (147,611 ) See Note 10 Total before tax (154,078 ) Tax benefit 51,242 Income taxes Net of tax $ (102,836 ) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2017 : Details about Accumulated Other Comprehensive (Loss) Components Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) Consolidated Statement of Income Classification Retirement benefit plans Amortization of prior service cost and initial net obligation $ (8,014 ) See Note 10 Recognized actuarial loss (214,284 ) See Note 10 Total before tax (222,298 ) Tax benefit 79,930 Income taxes Net of tax $ (142,368 )
Schedule of share repurchases	The number of common shares repurchased at the average purchase price follows: 2018 2017 2016 Shares repurchased 1,738,234 1,976,778 5,121,051 Average price per share including commissions $ 172.59 $ 133.90 $ 108.87

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	12 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted average assumptions used in fair value of each stock appreciation right award granted	The fair value of each SAR award granted in 2018 , 2017 and 2016 was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions: 2018 2017 2016 Risk-free interest rate 1.9 % 1.4 % 1.9 % Expected life of award 5.2 years 5.3 years 5.4 years Expected dividend yield of stock 2.0 % 2.0 % 1.9 % Expected volatility of stock 23.4 % 28.5 % 28.7 % Weighted-average fair value $ 29.71 $ 27.39 $ 26.88
Stock appreciation rights activity	SAR activity during 2018 is as follows (aggregate intrinsic value in millions): Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding June 30, 2017 6,533,406 $ 94.18 Granted 907,626 $ 158.79 Exercised (1,351,120 ) $ 78.61 Canceled (43,031 ) $ 146.84 Outstanding June 30, 2018 6,046,881 $ 106.98 5.8 years $ 298.1 Exercisable June 30, 2018 4,168,672 $ 92.74 4.6 years $ 263.1
Summary of the status and shares subject to stock appreciation rights awards and average price per share	A summary of the status and changes of shares subject to SAR awards and the related average price per share follows: Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2017 1,947,569 $ 27.80 Granted 907,626 $ 29.71 Vested (933,955 ) $ 28.33 Canceled (43,031 ) $ 28.34 Nonvested June 30, 2018 1,878,209 $ 28.44
Information related to stock appreciation rights awards exercised	Information related to SAR awards exercised during 2018 , 2017 and 2016 is as follows: 2018 2017 2016 Net cash proceeds $ 3,682 $ 2,202 $ 126 Intrinsic value 136,000 153,908 40,612 Income tax benefit 28,701 31,193 7,188
Summary of the status and shares subject to restricted stock units and average price per share	A summary of the status and changes of shares subject to RSU awards for employees and the related average price per share follows: Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2017 394,329 $ 120.92 Granted 157,086 $ 159.26 Vested (176,855 ) $ 116.94 Canceled (13,949 ) $ 139.61 Nonvested June 30, 2018 360,611 $ 138.85
Status and changes of shares of long term incentive plans shares	A summary of the status and changes of shares relating to the LTIP and the related average price per share follows: Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2017 734,744 $ 119.56 Granted 191,986 $ 206.99 Vested (256,071 ) $ 122.11 Canceled (12,388 ) $ 128.63 Nonvested June 30, 2018 658,271 $ 143.90 Stock issued for LTIP 2018 2017 2016 LTIP three-year plan 2015-16-17 2014-15-16 2013-14-15 Number of shares issued 308,278 227,707 175,291 Share value on date of issuance $ 176.39 $ 157.07 $ 113.91 Total value $ 54,377 $ 35,766 $ 19,967

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying value of long-term debt and estimated fair value of long-term debt	The carrying value of long-term debt and estimated fair value of long-term debt at June 30 are as follows: 2018 2017 Carrying value of long-term debt $ 4,460,402 $ 5,383,343 Estimated fair value of long-term debt 4,548,796 5,645,529
Location and fair value of derivative financial instruments reported in the consolidated balance sheet	The location and fair value of derivative financial instruments reported in the Consolidated Balance Sheet are as follows: Balance Sheet Caption 2018 2017 Net investment hedges Cross-currency swap contracts Other assets $ 7,614 $ 15,135 Cash flow hedges Costless collar contracts Non-trade and notes receivable 932 430 Costless collar contracts Other accrued liabilities 236 2,027
Gains (losses) on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss)	(Losses) on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) in the Consolidated Balance Sheet are as follows: 2018 2017 Cross-currency swap contracts $ (9,209 ) $ (6,003 ) Foreign denominated debt (9,543 ) (16,175 )
Summary of financial assets and liabilities that were measured at fair value on a recurring basis	A summary of financial assets and liabilities that were measured at fair value on a recurring basis at June 30, 2018 and 2017 are as follows: June 30, 2018 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Equity securities $ 2,956 $ 2,956 $ — $ — Corporate bonds 5,331 5,331 — — Asset-backed and mortgage-backed securities 3,911 — 3,911 — Derivatives 14,110 — 14,110 — Investments measured at net asset value 7,208 Liabilities: Derivatives 5,315 — 5,315 — June 30, 2017 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Equity securities $ 3,008 $ 3,008 $ — $ — Corporate bonds 5,968 5,968 — — Asset-backed and mortgage-backed securities 4,762 — 4,762 — Derivatives 16,496 — 16,496 — Investments measured at net asset value 7,073 Liabilities: Derivatives 16,064 — 16,064 —

Quarterly Information (Unaudi42

Quarterly Information (Unaudited) (Tables)	12 Months Ended
	Jun. 30, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	2018 1st 2nd 3rd 4th Total Net sales $ 3,364,651 $ 3,370,673 $ 3,749,591 $ 3,817,477 $ 14,302,392 Net income attributable to common shareholders 285,397 56,159 365,989 353,256 1,060,801 Diluted earnings per share 2.10 0.41 2.70 2.62 7.83 2017 1st 2nd 3rd 4th Total Net sales $ 2,743,131 $ 2,670,804 $ 3,119,139 $ 3,496,238 $ 12,029,312 Net income attributable to common shareholders 210,129 241,305 238,673 293,305 983,412 Diluted earnings per share 1.55 1.78 1.75 2.15 7.25

Business Segment Information -

Business Segment Information - Segment Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Net Sales	$ 3,817,477	$ 3,749,591	$ 3,370,673	$ 3,364,651	$ 3,496,238	$ 3,119,139	$ 2,670,804	$ 2,743,131	$ 14,302,392	$ 12,029,312	$ 11,360,753
Segment Operating Income									2,239,179	1,790,255	1,575,655
Corporate administration									200,901	172,632	173,203
Income before interest expense and other expense									2,038,278	1,617,623	1,402,452
Interest expense									213,873	162,436	136,517
Other expense									122,128	126,546	151,207
Income before income taxes									1,702,277	1,328,641	1,114,728
Assets	15,320,087				15,489,904				15,320,087	15,489,904	12,034,142
Property Additions									247,667	203,748	149,407
Depreciation									237,806	202,868	190,308
Long-Lived Assets	1,856,237				1,937,292				1,856,237	1,937,292	1,568,100
Corporate
Segment Reporting Information [Line Items]
Assets	504,723				710,216				504,723	710,216	1,874,894
Property Additions									35,973	38,054	3,932
Depreciation									9,421	8,561	8,825
Diversified Industrial | Operating Segments
Segment Reporting Information [Line Items]
Assets	13,368,619				13,366,981				13,368,619	13,366,981	8,728,671
Property Additions									196,469	148,765	134,618
Depreciation									211,648	176,823	163,014
Aerospace Systems
Segment Reporting Information [Line Items]
Net Sales									2,315,699	2,284,727	2,260,270
Segment Operating Income									397,970	337,496	337,531
Aerospace Systems | Operating Segments
Segment Reporting Information [Line Items]
Assets	1,446,745				1,412,707				1,446,745	1,412,707	1,430,577
Property Additions									15,225	16,929	10,857
Depreciation									16,737	17,484	18,469
North America
Segment Reporting Information [Line Items]
Net Sales									8,978,490	7,585,689	7,144,481
Long-Lived Assets	1,103,308				1,145,127				1,103,308	1,145,127	817,872
North America | Diversified Industrial
Segment Reporting Information [Line Items]
Net Sales									6,726,900	5,366,809	4,955,211
Segment Operating Income									1,076,021	873,552	789,667
International
Segment Reporting Information [Line Items]
Net Sales									5,323,902	4,443,623	4,216,272
Long-Lived Assets	$ 752,929				$ 792,165				752,929	792,165	750,228
International | Diversified Industrial
Segment Reporting Information [Line Items]
Net Sales									5,259,793	4,377,776	4,145,272
Segment Operating Income									$ 765,188	$ 579,207	$ 448,457

Business Segment Information 44

Business Segment Information - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Investment in a joint venture	$ 304,389	$ 341,869
Aerospace Systems
Segment Reporting Information [Line Items]
Investment in a joint venture	$ 235,665	$ 240,182	$ 241,728
Maximum
Segment Reporting Information [Line Items]
Ownership percentage (or less)	50.00%

Significant Accounting Polici45

Significant Accounting Policies - Nature of operations (Details)	12 Months Ended
	Jun. 30, 2018country
Customer Concentration Risk
Concentration Risk [Line Items]
Sales level from major customers	3.00%
Diversified Industrial | International
Concentration Risk [Line Items]
Number of countries that the Diversified Industrial International operations provide Parker products and services to	47

Significant Accounting Polici46

Significant Accounting Policies - Trade accounts receivable, net (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 9,672	$ 14,336

Significant Accounting Polici47

Significant Accounting Policies - Non-trade and notes receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Accounting Policies [Abstract]
Notes receivable	$ 149,254	$ 118,351
Accounts receivable, other	179,145	136,636
Total	$ 328,399	$ 254,987

Significant Accounting Polici48

Significant Accounting Policies - Plant, equipment and depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Property, Plant and Equipment [Line Items]
Land and land improvements	$ 289,686	$ 321,331
Buildings and building equipment	1,578,701	1,575,464
Machinery and equipment	3,218,639	3,167,885
Construction in progress	128,227	122,068
Total	$ 5,215,253	$ 5,186,748
Buildings
Property, Plant and Equipment [Line Items]
Useful life (in years)	40 years
Land Improvements
Property, Plant and Equipment [Line Items]
Useful life (in years)	15 years
Building Equipment
Property, Plant and Equipment [Line Items]
Useful life (in years)	15 years
Machinery and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years
Machinery and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	10 years
Vehicles and Office Equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Vehicles and Office Equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	8 years

Significant Accounting Polici49

Significant Accounting Policies - Investment and other assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Schedule of Equity Method Investments [Line Items]
Investment in joint-venture companies and company's equity in undistributed earnings	$ 304,389	$ 341,869
Share of earnings from investments in joint-venture companies	$ 50,473	$ 42,352	$ 25,650
Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage (or less)	50.00%

Significant Accounting Polici50

Significant Accounting Policies - Foreign currency translation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Foreign Currency Translation [Abstract]
Exchange (gains) and losses from transactions in a currency other than the local currency of the entity	$ 7,284	$ 8,060	$ 22,750

Significant Accounting Polici51

Significant Accounting Policies - Recent accounting pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of sales	$ (10,762,841)	$ (9,188,962)	$ (8,823,384)
Selling, general and administrative expenses	(1,657,152)	(1,453,935)	$ (1,359,360)
Retained earnings (accumulated deficit)	11,625,975	10,930,348
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of sales	25,000	70,000
Selling, general and administrative expenses	17,000	$ 41,000
Accounting Standard Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings (accumulated deficit)	$ (18,000)

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisitions (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2017USD ($)acquisition	Jun. 30, 2016USD ($)acquisition
Significant Acquisitions
Number of businesses acquired | acquisition	3
Aggregate annual sales for businesses acquired, for their most recent fiscal year prior to acquisition	$ 1,522,000
Cash paid to acquire businesses	4,227,000
Assumed debt	316,000
Fair Value Adjustments and Transaction, Operating and Acquisition Costs
Significant Acquisitions
Increase (decrease) in pro forma net income attributable to common shareholders	108,078	$ (39,121)
Clarcor
Significant Acquisitions
Aggregate annual sales for businesses acquired, for their most recent fiscal year prior to acquisition		1,400,000
Net sales, from date of acquisition	487,388
Operating loss, from date of acquisition	(16,164)
Increase (decrease) in pro forma net income attributable to common shareholders	$ 1,027,693	$ 748,634
Series of Individually Immaterial Business Acquisitions
Significant Acquisitions
Number of businesses acquired | acquisition	2	2
Aggregate annual sales for businesses acquired, for their most recent fiscal year prior to acquisition		$ 48,000
Cash paid to acquire businesses		71,000
Assumed debt		$ 2,000

Acquisitions and Divestitures53

Acquisitions and Divestitures - Initial purchase price allocation and subsequent purchase price adjustments for acquisitions (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Assets:
Accounts receivable	$ 263,616	$ 6,793
Inventories	302,422	12,041
Prepaid expenses	18,342	1,350
Deferred income taxes	4,658	0
Plant and equipment	376,826	5,647
Intangible and other assets	1,526,909	26,849
Goodwill	2,677,489	31,134
Total	5,170,262	83,814
Liabilities:
Notes payable	20,162	720
Accounts payable, trade	84,753	2,536
Accrued payrolls and other compensation	45,942	1,310
Accrued domestic and foreign taxes	5,435	604
Other accrued liabilities	80,515	1,804
Long-term debt	296,240	1,743
Pensions and other postretirement benefits	33,929	0
Deferred income taxes	520,389	7,545
Other liabilities	11,878	0
Noncontrolling interests	1,822	0
Total	1,101,065	16,262
Net assets acquired	$ 4,069,197	$ 67,552

Acquisitions and Divestitures54

Acquisitions and Divestitures - Pro forma information (Details) - CLARCOR, Inc - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Business Acquisition [Line Items]
Net sales	$ 12,935,834	$ 12,772,097
Net income attributable to common shareholders	$ 1,027,693	$ 748,634
Diluted earnings per share (in USD per share)	$ 7.58	$ 5.47

Acquisitions and Divestitures55

Acquisitions and Divestitures - Divestitures (Details) - Diversified Industrial - Disposal Group, Disposed of by Sale, Not Discontinued Operations - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Global Facet Filtration Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain (loss) on disposal of business	$ (20)
Tax expense from tax gain on divestiture	$ 29
Autoline Product Line
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain (loss) on disposal of business		$ 45

Charges Related to Business R56

Charges Related to Business Realignment (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2018USD ($)employee	Jun. 30, 2017USD ($)employee	Jun. 30, 2016USD ($)employee
Cost of sales
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 44,949	$ 35,932	$ 76,197
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	36,813	19,681	21,051
(Gain) on disposal of assets
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	1,233	784	116
Employee severance
Restructuring Cost and Reserve [Line Items]
Severance payments relating to charges incurred during the current fiscal year	40,000
Remaining severance payments related to current-year and prior-year actions	26,000
Operating segments | Diversified Industrial
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 78,558	$ 52,939	$ 91,404
Work force reduction (in employees) | employee	1,757	1,102	3,515
Operating segments | Aerospace Systems
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 3,428	$ 2,674	$ 3,629
Work force reduction (in employees) | employee	265	89	81
Corporate administration
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 0	$ 0	$ 2,215
Work force reduction (in employees) | employee	0	0	53
Other expense
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 1,009	$ 784	$ 116

Income Taxes - Additional infor

Income Taxes - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Net provisional discrete income tax cost resulting from TCJ Act	$ 233,000
Decrease in income tax expense for one-time revaluation of certain tax-related assets and liabilities as a result of TCJ Act	80,000
Transition tax on previously unremitted foreign earnings	297,000
Deferred tax assets resulting from loss carryforwards	679,880	$ 678,486
Loss carryforwards	2,633,218
Valuation allowance related to the loss carryforwards	675,045
Amount of valuation allowance relating to non-operating entity whose loss carryforward utilization is considered to be remote	$ 640,239
Operating loss carryforward minimum period before expiration (in years)	3 years
Operating loss carryforward maximum period before expiration (in years)	20 years
Valuation allowance related to future deductible items	$ 19,812
Undistributed foreign earnings not permanently reinvested	274,000
Deferred tax liability on undistributed foreign earnings not permanently reinvested	12,000
Undistributed distributed foreign earnings	2,700,000
Deferred tax liability on undistributed foreign earnings	4,000
Amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate	153,091	95,460	$ 80,722
Accrued interest related to the gross unrecognized tax benefits excluded from the unrecognized tax benefits	21,737	$ 15,432	$ 12,357
Amount of gross unrecognized tax benefits could be reduced by as a result of the revaluation of existing uncertain tax positions	$ 120,000

Income Taxes - Income before in

Income Taxes - Income before income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
United States	$ 963,843	$ 722,925	$ 672,907
Foreign	738,434	605,716	441,821
Income before income taxes	$ 1,702,277	$ 1,328,641	$ 1,114,728

Income Taxes - Schedule of inco

Income Taxes - Schedule of income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Federal
Current	$ 453,821	$ 132,420	$ 235,557
Deferred	(23,876)	37,316	(45,797)
Foreign
Current	210,385	157,518	113,146
Deferred	(17,454)	(5,319)	(7,006)
State and local
Current	18,168	17,835	24,495
Deferred	(82)	5,027	(12,883)
Income taxes	$ 640,962	$ 344,797	$ 307,512

Income Taxes - Effective income

Income Taxes - Effective income tax rate reconciliation to statutory federal rate (Details)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	28.10%	35.00%	35.00%
State and local income taxes	1.20%	1.70%	0.60%
Tax related to international activities	(1.00%)	(5.50%)	(5.20%)
Transition tax related to the TCJ Act	17.50%	0.00%	0.00%
Remeasurement of deferred tax assets and liabilities related to the TCJ Act	(4.80%)	0.00%	0.00%
Cash surrender value of life insurance	(0.40%)	(0.90%)
Cash surrender value of life insurance			0.20%
Federal manufacturing deduction	(1.00%)	(0.90%)	(1.00%)
Research tax credit	(0.70%)	(0.80%)	(1.90%)
Share-based compensation	(2.20%)	(2.70%)	0.00%
Other	1.00%	0.10%	(0.10%)
Effective income tax rate	37.70%	26.00%	27.60%

Income Taxes - Differences comp

Income Taxes - Differences comprising the net deferred taxes shown on consolidated balance sheet (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Retirement benefits	$ 340,480	$ 571,022
Other liabilities and reserves	112,935	144,885
Long-term contracts	17,496	61,375
Stock-based compensation	38,535	59,725
Loss carryforwards	679,880	678,486
Unrealized currency exchange gains and losses	27,228	22,212
Inventory	(9,612)
Inventory		17,809
Foreign tax credit carryforward	0	23,050
Depreciation and amortization	(689,320)	(1,080,218)
Valuation allowance	(694,857)	(684,079)
Net deferred tax (liability)	(177,235)	(185,733)
Change in net deferred tax asset (liability):
Provision for deferred tax	41,412	(37,024)	$ 65,686
Items of other comprehensive (loss)	(65,542)	(177,655)
Acquisitions and other	32,628	(521,814)
Total change in net deferred tax	$ 8,498	$ (736,493)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance July 1	$ 147,506	$ 139,907	$ 145,688
Additions for tax positions related to current year	4,195	4,735	7,025
Additions for tax positions of prior years	8,333	2,618	2,582
Additions for acquisitions	0	3,939	0
Reductions for tax positions of prior years	(3,790)	(1,175)	(627)
Reductions for settlements	(315)	(3,020)	(10,284)
Reductions for expiration of statute of limitations	(4,480)	(2,792)	(4,142)
Effect of foreign currency translation - increase	1,642	3,294
Effect of foreign currency translation - decrease			(335)
Balance June 30	$ 153,091	$ 147,506	$ 139,907

Earnings Per Share - Computatio

Earnings Per Share - Computation of earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net income attributable to common shareholders									$ 1,060,801	$ 983,412	$ 806,840
Denominator:
Basic - weighted-average common shares (in shares)									133,004,613	133,377,547	135,353,321
Increase in weighted-average common shares from dilutive effect of equity-based awards (in shares)									2,422,221	2,182,217	1,558,369
Diluted - weighted-average common shares, assuming exercise of stock-based awards (in shares)									135,426,834	135,559,764	136,911,690
Basic earnings per share (in USD per share)									$ 7.98	$ 7.37	$ 5.96
Diluted earnings per share (in USD per share)	$ 2.62	$ 2.70	$ 0.41	$ 2.10	$ 2.15	$ 1.75	$ 1.78	$ 1.55	$ 7.83	$ 7.25	$ 5.89

Earnings Per Share - Additional

Earnings Per Share - Additional information (Details) - shares shares in Millions	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Abstract]
Number of common shares subject to stock-based awards that were excluded from the computation of diluted earnings per share	0.5	1.4	3.1

Inventories - Additional inform

Inventories - Additional information (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Inventory Disclosure [Abstract]
Percentage of LIFO inventory to total inventory	41.00%	39.00%
Current cost of inventories exceeds their valuation determined on the LIFO basis, amount	$ 203,192	$ 193,933
Progress payments netted against inventories	$ 25,026	$ 44,231

Inventories - Inventory compone

Inventories - Inventory components (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Inventory, Net [Abstract]
Finished products	$ 673,323	$ 642,788
Work in process	765,835	723,133
Raw materials	182,146	183,573
Total	$ 1,621,304	$ 1,549,494

Goodwill and Intangible Asset67

Goodwill and Intangible Assets - Changes in carrying amount of goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Goodwill [Roll Forward]
Beginning Balance	$ 5,586,878	$ 2,903,037
Acquisitions	37,489	2,677,489
Divestitures	(138,541)	(22,618)
Foreign currency translation and other	18,594	28,970
Ending Balance	5,504,420	5,586,878
Diversified Industrial Segment
Goodwill [Roll Forward]
Beginning Balance	5,488,236	2,804,403
Acquisitions	37,489	2,677,489
Divestitures	(138,541)	(22,618)
Foreign currency translation and other	18,587	28,962
Ending Balance	5,405,771	5,488,236
Aerospace Systems Segment
Goodwill [Roll Forward]
Beginning Balance	98,642	98,634
Acquisitions	0	0
Divestitures	0	0
Foreign currency translation and other	7	8
Ending Balance	$ 98,649	$ 98,642

Goodwill and Intangible Asset68

Goodwill and Intangible Assets - Additional information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment loss recognized	$ 0	$ 0	$ 0
Intangible amortization expense	221,494,000	$ 145,128,000	$ 108,019,000
Estimated amortization expense, year ending June 30, 2019	197,451,000
Estimated amortization expense, year ending June 30, 2020	187,040,000
Estimated amortization expense, year ending June 30, 2021	182,406,000
Estimated amortization expense, year ending June 30, 2022	176,495,000
Estimated amortization expense, year ending June 30, 2023	$ 168,961,000

Goodwill and Intangible Asset69

Goodwill and Intangible Assets - Gross carrying value and accumulated amortization of intangible assets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,294,407	$ 3,374,723
Accumulated Amortization	1,278,887	1,067,239
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	265,423	254,049
Accumulated Amortization	117,440	100,860
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	546,905	553,691
Accumulated Amortization	227,580	200,413
Customer lists and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,482,079	2,566,983
Accumulated Amortization	$ 933,867	$ 765,966

Financing Arrangements (Details

Financing Arrangements (Details)	12 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)
Line of Credit Facility [Line Items]
Line of credit available	$ 1,466,200,000
Commercial paper notes outstanding	533,800,000	$ 534,200,000
Short-term borrowings	$ 638,466,000	1,008,465,000
Debt to debt-shareholders' equity ratio	0.46
Maximum
Line of Credit Facility [Line Items]
Debt to debt-shareholders' equity ratio, covenant, maximum	0.60
Foreign Banks
Line of Credit Facility [Line Items]
Short-term borrowings	$ 4,255,000
Commercial Paper
Line of Credit Facility [Line Items]
Line of credit	2,000,000,000
Domestic Line of Credit
Line of Credit Facility [Line Items]
Line of credit	$ 2,000,000,000
Extension option, term (in years)	1 year
Foreign Line of Credit
Line of Credit Facility [Line Items]
Line of credit	$ 48,338,000	62,946,000
Line of credit outstanding	$ 0	$ 0
Weighted-average interest rate of notes payable	1.80%	1.00%

Debt - Schedule of long-term de

Debt - Schedule of long-term debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Debt Instrument [Line Items]
Other long-term debt	$ 762	$ 433
Debt issuance costs	(41,432)	(47,183)
Long-term debt	4,418,970	5,336,160
Less: Long-term debt payable within one year	100,411	474,265
Long-term debt, net	4,318,559	4,861,895
Medium-term Notes | Fixed rate medium-term notes, 3.30% to 6.55%, due 2019-2045
Debt Instrument [Line Items]
Long-term debt	$ 2,225,000	2,675,000
Medium-term Notes | Fixed rate medium-term notes, 3.30% to 6.55%, due 2019-2045 | Minimum
Debt Instrument [Line Items]
Interest rate	3.30%
Medium-term Notes | Fixed rate medium-term notes, 3.30% to 6.55%, due 2019-2045 | Maximum
Debt Instrument [Line Items]
Interest rate	6.55%
Senior Notes | Senior Notes, 3.25% to 4.10%, due 2027 - 2047
Debt Instrument [Line Items]
Long-term debt	$ 1,300,000	1,300,000
Senior Notes | Senior Notes, 3.25% to 4.10%, due 2027 - 2047 | Minimum
Debt Instrument [Line Items]
Interest rate	3.25%
Senior Notes | Senior Notes, 3.25% to 4.10%, due 2027 - 2047 | Maximum
Debt Instrument [Line Items]
Interest rate	4.10%
Senior Notes | Euro Senior Notes, 1.125%, due 2025
Debt Instrument [Line Items]
Interest rate	1.125%
Long-term debt	$ 817,810	799,890
Term Loan | Term loan, Libor plus 100 bps, due 2020
Debt Instrument [Line Items]
Long-term debt	$ 0	493,750
Term Loan | Term loan, Libor plus 100 bps, due 2020 | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Term Loan | Euro Term loan, Libor plus 150 bps, due 2022
Debt Instrument [Line Items]
Long-term debt	$ 116,830	$ 114,270
Term Loan | Euro Term loan, Libor plus 150 bps, due 2022 | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%

Debt - Long-term debt payable i

Debt - Long-term debt payable in the next five years (Details) $ in Thousands	Jun. 30, 2018USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
Long-term debt payable in 2019	$ 100,411
Long-term debt payable in 2020	240
Long-term debt payable in 2021	32
Long-term debt payable in 2022	116,841
Long-term debt payable in 2023	$ 300,006

Debt - Lease commitments (Detai

Debt - Lease commitments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Future minimum rental commitments due in 2019	$ 78,812
Future minimum rental commitments due in 2020	56,889
Future minimum rental commitments due in 2021	35,102
Future minimum rental commitments due in 2022	18,326
Future minimum rental commitments due in 2023	9,172
Future minimum rental commitments due after 2023	28,390
Rental expense	$ 126,940	$ 118,723	$ 119,004

Retirement Benefits - Net perio

Retirement Benefits - Net periodic pension cost recognized (Details) - Pension Plans, Defined Benefit - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 82,993	$ 94,356	$ 94,650
Interest cost	144,339	126,131	181,469
Special termination cost	0	0	7,088
Settlement cost	0	0	5,102
Expected return on plan assets	(258,490)	(239,537)	(221,629)
Amortization of prior service cost	6,570	8,116	7,470
Amortization of unrecognized actuarial loss	147,387	212,433	170,407
Amortization of initial net obligation	18	18	17
Net periodic benefit cost	$ 122,817	$ 201,517	$ 244,574

Retirement Benefits - Summary o

Retirement Benefits - Summary of defined benefit pension plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Change in plan assets
Fair value of plan assets at beginning of year	$ 3,896,001
Fair value of plan assets at end of year	3,915,889	$ 3,896,001
Amounts recognized on the Consolidated Balance Sheet
Pensions and other postretirement benefits	(1,177,605)	(1,406,082)
Pension Plans, Defined Benefit
Change in benefit obligation
Benefit obligation at beginning of year	5,217,857	5,315,655
Service cost	82,993	94,356	$ 94,650
Interest cost	144,339	126,131	181,469
Acquisition	0	201,283
Plan amendments	2,932	3,265
Divestiture	(9,535)	(851)
Actuarial gain	(182,588)	(268,370)
Benefits paid	(216,169)	(250,289)
Foreign currency translation and other	(5,832)	(3,323)
Benefit obligation at end of year	5,033,997	5,217,857	5,315,655
Change in plan assets
Fair value of plan assets at beginning of year	3,896,001	3,307,047
Actual gain on plan assets	174,951	341,344
Acquisition	0	168,264
Divestiture	(12,231)	0
Employer contributions	81,518	330,932
Benefits paid	(216,169)	(250,289)
Foreign currency translation and other	(8,181)	(1,297)
Fair value of plan assets at end of year	3,915,889	3,896,001	$ 3,307,047
Funded status	(1,118,108)	(1,321,856)
Amounts recognized on the Consolidated Balance Sheet
Other accrued liabilities	(11,333)	(12,793)
Pensions and other postretirement benefits	(1,106,775)	(1,309,063)
Net amount recognized	(1,118,108)	(1,321,856)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial loss	1,216,612	1,461,017
Prior service cost	18,900	22,761
Transition obligation	61	77
Net amount recognized	$ 1,235,573	$ 1,483,855

Retirement Benefits - Pensions,

Retirement Benefits - Pensions, additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Pension Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net pension benefit cost decrease in fiscal period when compared to prior year	$ (122,817)	$ (201,517)	$ (244,574)
Special termination cost	0	0	$ 7,088
Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Abstract]
Estimated amount of net actuarial loss that will be amortized from accumulated other comprehensive (loss) income into net periodic benefit pension cost	114,825
Estimated amount of prior service cost that will be amortized from accumulated other comprehensive (loss) income into net periodic benefit pension cost	6,286
Estimated amount of transition obligation that will be amortized from accumulated other comprehensive (loss) income into net periodic benefit pension cost	18
Accumulated benefit obligation for all defined benefit plans	4,751,111	4,890,058
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets	4,933,863	5,120,268
Accumulated benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets	4,665,272	4,805,485
Fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets	3,807,859	3,793,696
Projected benefit obligation for pension plans with projected benefit obligations in excess of plan assets	4,970,120	5,142,881
Fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets	3,842,539	3,815,815
Expected cash contributions to defined benefit pension plans in 2019	70,000
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
Estimated future benefit payments in the year ending June 30, 2019	240,163
Estimated future benefit payments in the year ending June 30, 2020	242,051
Estimated future benefit payments in the year ending June 30, 2021	259,402
Estimated future benefit payments in the year ending June 30, 2022	305,553
Estimated future benefit payments in the year ending June 30, 2023	267,258
Estimated future benefit payments in the aggregate for the five years ending June 30, 2024 through June 30, 2028	$ 1,454,646
Change in Assumptions for Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net pension benefit cost decrease in fiscal period when compared to prior year		$ 29,777

Retirement Benefits - Assumptio

Retirement Benefits - Assumptions used to measure periodic benefit cost (Details) - Pension Plans, Defined Benefit	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
U.S. defined benefit plans
Assumptions used to measure net periodic benefit cost
Discount rate	3.64%	3.33%	4.19%
Average increase in compensation	3.89%	5.02%	5.14%
Expected return on plan assets	7.50%	7.50%	7.50%
Non-U.S. defined benefit plans | Minimum
Assumptions used to measure net periodic benefit cost
Discount rate	0.30%	0.23%	0.70%
Average increase in compensation	2.00%	2.00%	2.00%
Expected return on plan assets	1.00%	1.00%	1.00%
Non-U.S. defined benefit plans | Maximum
Assumptions used to measure net periodic benefit cost
Discount rate	7.57%	7.75%	6.00%
Average increase in compensation	5.50%	5.50%	5.50%
Expected return on plan assets	5.75%	5.75%	5.75%

Retirement Benefits - Assumpt78

Retirement Benefits - Assumptions used to measure benefit obligations (Details) - Pension Plans, Defined Benefit	Jun. 30, 2018	Jun. 30, 2017
U.S. defined benefit plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.01%	3.64%
Average increase in compensation	3.65%	3.89%
Non-U.S. defined benefit plans | Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.30%	0.30%
Average increase in compensation	1.75%	2.00%
Non-U.S. defined benefit plans | Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.37%	7.57%
Average increase in compensation	5.50%	5.50%

Retirement Benefits - Weighted-

Retirement Benefits - Weighted-average allocation of the majority of the assets related to defined benefit plans (Details)	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Equity securities (as a percent)	100.00%	100.00%
U.S. defined benefit plans
Defined Benefit Plan Disclosure [Line Items]
Other investments (as a percent)	74.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Equity securities (as a percent)	44.00%	45.00%
Debt securities (as a percent)	41.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Equity securities (as a percent)	49.00%	47.00%
Debt securities (as a percent)	47.00%
Other investments
Defined Benefit Plan Disclosure [Line Items]
Equity securities (as a percent)	7.00%	8.00%
Debt securities (as a percent)	12.00%

Retirement Benefits - Fair valu

Retirement Benefits - Fair values of pension plan assets by asset class (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	$ 3,915,889	$ 3,896,001
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	57,307	76,057
Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	447,553	416,830
Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	243,253	236,134
Fixed income securities, Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	225,929	176,135
Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	272,604	199,389
Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	176,846	306,168
Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	179,562	204,628
Common/Collective trusts, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	89,578	70,389
Common/Collective trusts, Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	$ 46,620	46,003
Common/Collective trusts
Defined Benefit Plan Disclosure [Line Items]
Investments valued using a net asset value per share, redemption notice period (in days)	60 days
Limited Partnerships measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Investments valued using a net asset value per share, redemption notice period (in days)	95 days
Miscellaneous
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	$ (36,492)	(9,000)
Quoted Prices In Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	1,537,904	1,592,120
Quoted Prices In Active Markets (Level 1) | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	54,322	75,370
Quoted Prices In Active Markets (Level 1) | Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	447,553	416,830
Quoted Prices In Active Markets (Level 1) | Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	243,253	236,134
Quoted Prices In Active Markets (Level 1) | Fixed income securities, Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	115,534	91,982
Quoted Prices In Active Markets (Level 1) | Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	184,636	144,616
Quoted Prices In Active Markets (Level 1) | Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	176,846	306,168
Quoted Prices In Active Markets (Level 1) | Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	179,562	204,628
Quoted Prices In Active Markets (Level 1) | Common/Collective trusts, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	89,578	70,389
Quoted Prices In Active Markets (Level 1) | Common/Collective trusts, Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	46,620	46,003
Quoted Prices In Active Markets (Level 1) | Miscellaneous
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	164,856	130,613
Significant Other Observable Inputs (Level 2) | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	2,985	687
Significant Other Observable Inputs (Level 2) | Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets		0
Significant Other Observable Inputs (Level 2) | Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets		0
Significant Other Observable Inputs (Level 2) | Fixed income securities, Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	110,395	84,153
Significant Other Observable Inputs (Level 2) | Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	87,968	54,773
Significant Other Observable Inputs (Level 2) | Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Other Observable Inputs (Level 2) | Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Other Observable Inputs (Level 2) | Common/Collective trusts, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Other Observable Inputs (Level 2) | Common/Collective trusts, Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Other Observable Inputs (Level 2) | Miscellaneous
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	(36,492)	(9,000)
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Fixed income securities, Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Common/Collective trusts, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Common/Collective trusts, Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Miscellaneous
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Measured at Net Asset Value | Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	232,050	233,234
Measured at Net Asset Value | Common/Collective trusts
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	1,737,543	1,677,942
Measured at Net Asset Value | Limited Partnerships measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	243,536	262,092
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	3,915,889	3,896,001	$ 3,307,047
Company stock included in U.S. based company equity securities	$ 207,202	$ 212,480

Retirement Benefits - Employee

Retirement Benefits - Employee stock ownership plan (ESOP) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shares held by ESOP (in shares)	6,476,154	6,911,436	7,728,332
Company matching contributions	$ 65,262	$ 57,766	$ 58,922
Number of shares invested by employees in company stock (in shares)	1,870,286
Defined contribution plan expense recognized	$ 29,023	29,309	$ 25,780
CLARCOR, Inc
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Defined contribution plan expense recognized	$ 4,481	$ 2,199
Maximum
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Maximum percentage of employer 401K matching contribution	4.00%

Retirement Benefits - Other pos

Retirement Benefits - Other postretirement benefit plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Amounts recognized on the Consolidated Balance Sheet
Pensions and other postretirement benefits	$ (1,177,605)	$ (1,406,082)
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Expense related to other postretirement benefits	2,755	4,357	$ 8,754
Special termination cost			4,521
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	79,933	89,785
Service cost	320	469
Interest cost	2,003	1,922
Acquisition	0	291
Actuarial gain	(11,259)	(8,235)
Benefits paid	(4,476)	(4,299)
Benefit obligation at end of year	66,521	79,933	$ 89,785
Funded status	(66,521)	(79,933)
Amounts recognized on the Consolidated Balance Sheet
Other accrued liabilities	(6,180)	(6,532)
Pensions and other postretirement benefits	(60,341)	(73,401)
Net amount recognized	(66,521)	(79,933)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial loss	1,232	12,828
Prior service credit	(314)	(435)
Net amount recognized	918	$ 12,393
Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Abstract]
Estimated amount of net actuarial loss that will be amortized from accumulated other comprehensive (loss) income into net periodic postretirement cost	14
Estimated amount of prior service credit that will be amortized from accumulated other comprehensive (loss) income into net periodic postretirement cost	$ (121)

Retirement Benefits - Assumpt83

Retirement Benefits - Assumptions used to measure net periodic benefit cost for postretirement plans (Details) - Other Postretirement Benefit Plans, Defined Benefit	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.46%	3.15%	3.96%
Ultimate medical cost trend rate	4.50%	4.50%	4.50%
Medical cost trend rate decreases to ultimate in year	2,025	2,025	2,025
Discount rate used to measure benefit obligation	3.92%	3.46%
Defined benefit plan, participant age range, Pre-65
Defined Benefit Plan Disclosure [Line Items]
Current medical cost trend rate	8.19%	7.35%	7.61%
Defined benefit plan, participant age range, Post-65
Defined Benefit Plan Disclosure [Line Items]
Current medical cost trend rate	9.79%	8.68%	9.00%

Retirement Benefits - Postretir

Retirement Benefits - Postretirement benefit plans - expected future benefit payments (Details) - Other Postretirement Benefit Plans, Defined Benefit $ in Thousands	Jun. 30, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
Estimated future benefit payments in the year ending June 30, 2019	$ 6,463
Estimated future benefit payments in the year ending June 30, 2020	6,358
Estimated future benefit payments in the year ending June 30, 2021	5,967
Estimated future benefit payments in the year ending June 30, 2022	5,804
Estimated future benefit payments in the year ending June 30, 2023	5,564
Estimated future benefit payments in the aggregate for the five years ending June 30, 2024 through June 30, 2028	$ 24,842

Retirement Benefits - Nonqualif

Retirement Benefits - Nonqualified deferred compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation expense	$ 13,420	$ 20,400	$ (2,917)

Equity - Changes in accumulated

Equity - Changes in accumulated other comprehensive (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Other Comprehensive Income (Loss) Net of Tax, Period Change [Abstract]
Beginning Balance	$ 5,267,346	$ 4,578,678
Other comprehensive income (loss) before reclassifications	66,276	162,225
Amounts reclassified from accumulated other comprehensive (loss)	94,842	141,336
Ending Balance	5,865,493	5,267,346
Foreign Currency Translation Adjustment and Other
Other Comprehensive Income (Loss) Net of Tax, Period Change [Abstract]
Beginning Balance	(925,342)	(844,121)
Other comprehensive income (loss) before reclassifications	(10,141)	(80,189)
Amounts reclassified from accumulated other comprehensive (loss)	(7,994)	(1,032)
Ending Balance	(943,477)	(925,342)
Retirement Benefit Plans
Other Comprehensive Income (Loss) Net of Tax, Period Change [Abstract]
Beginning Balance	(998,862)	(1,383,644)
Other comprehensive income (loss) before reclassifications	76,417	242,414
Amounts reclassified from accumulated other comprehensive (loss)	102,836	142,368
Ending Balance	(819,609)	(998,862)
AOCI Attributable to Parent
Other Comprehensive Income (Loss) Net of Tax, Period Change [Abstract]
Beginning Balance	(1,924,204)	(2,227,765)
Ending Balance	$ (1,763,086)	$ (1,924,204)

Equity - Significant reclassifi

Equity - Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net of tax	$ (94,842)	$ (141,336)
Amortization of prior service cost and initial net obligation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive (loss)	(6,467)	(8,014)
Recognized actuarial loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive (loss)	(147,611)	(214,284)
Retirement benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive (loss)	(154,078)	(222,298)
Tax benefit	51,242	79,930
Net of tax	$ (102,836)	$ (142,368)

Equity - Share repurchases (Det

Equity - Share repurchases (Details) - $ / shares	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Oct. 22, 2014
Equity, Class of Treasury Stock [Line Items]
Shares repurchased	1,738,234	1,976,778	5,121,051
Average price per share (in USD per share)	$ 172.59	$ 133.90	$ 108.87
Maximum
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized for repurchase				35,000,000

Stock Incentive Plans - Additio

Stock Incentive Plans - Additional Information (Details) - Omnibus Stock Incentive Plan 2016	Jun. 30, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares authorized for issuance under stock incentive plan	16,000,000
Number of shares available for future issuance	11,600,000

Stock Incentive Plans - Summary

Stock Incentive Plans - Summary of the status and shares subject to stock appreciation rights awards and average price per share (Details) - SARs - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Number of Shares
Beginning balance, nonvested (in shares)	1,947,569
Granted (in shares)	907,626
Vested (in shares)	(933,955)
Canceled (in shares)	(43,031)
Ending balance, nonvested (in shares)	1,878,209	1,947,569
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share)	$ 27.80
Granted (in USD per share)	29.71	$ 27.39	$ 26.88
Vested (in USD per share)	28.33
Canceled (in USD per share)	28.34
Ending balance, nonvested (in USD per share)	$ 28.44	$ 27.80
Stock Options and SARs - Additional Information
Expense for nonvested stock appreciation rights awards has yet to be recognized	$ 13,458
Expense for nonvested stock appreciation rights awards has yet to be recognized, amortized over a weighted-average period (in months)	17 months
Total fair value of shares vested	$ 26,461	$ 33,094	$ 34,706
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights exercisable period after the date of grant (in years)	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock appreciation rights exercisable period after the date of grant (in years)	3 years
Stock appreciation rights expiration period (in years)	10 years

Stock Incentive Plans - Weighte

Stock Incentive Plans - Weighted average assumptions used in fair value of each stock appreciation right award granted (Details) - SARs - $ / shares	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.90%	1.40%	1.90%
Expected life of award	5 years 2 months 12 days	5 years 3 months 19 days	5 years 4 months 24 days
Expected dividend yield of stock (as a percent)	2.00%	2.00%	1.90%
Expected volatility of stock (as a percent)	23.40%	28.50%	28.70%
Weighted-average fair value (in USD per share)	$ 29.71	$ 27.39	$ 26.88

Stock Incentive Plans - Stock a

Stock Incentive Plans - Stock appreciation rights activity (Details) - SARs $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2018USD ($)$ / sharesshares
Number of Shares
Beginning balance, outstanding (in shares) | shares	6,533,406
Granted (in shares) | shares	907,626
Exercised (in shares) | shares	(1,351,120)
Canceled (in shares) | shares	(43,031)
Ending balance, outstanding (in shares) | shares	6,046,881
Exercisable (in shares) | shares	4,168,672
Weighted-Average Exercise Price
Beginning balance, outstanding (in USD per share) | $ / shares	$ 94.18
Granted (in USD per share) | $ / shares	158.79
Exercised (in USD per share) | $ / shares	78.61
Canceled (in USD per share) | $ / shares	146.84
Ending balance, outstanding (in USD per share) | $ / shares	106.98
Exercisable (in USD per share) | $ / shares	$ 92.74
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Outstanding, weighted average remaining contractual term	5 years 9 months 18 days
Exercisable, weighted average remaining contractual term	4 years 7 months 6 days
Outstanding, aggregate intrinsic value | $	$ 298.1
Exercisable, aggregate intrinsic value | $	$ 263.1

Stock Incentive Plans - Informa

Stock Incentive Plans - Information related to stock appreciation rights awards exercised (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Net cash proceeds	$ 3,682	$ 2,202	$ 126
SARs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Net cash proceeds	3,682	2,202	126
Intrinsic value	136,000	153,908	40,612
Income tax benefit	28,701	31,193	7,188
Stock-based compensation expense	$ 27,422	$ 28,535	$ 28,129
Shares surrendered upon exercise of stock	269,670	371,246	158,808

Stock Incentive Plans - Summa94

Stock Incentive Plans - Summary of the status and shares subject to restricted stock units and average price per share (Details) - RSUs - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit, vesting period (in years)	3 years
Number of Shares
Beginning balance, nonvested (in shares)	394,329
Granted (in shares)	157,086
Vested (in shares)	(176,855)
Canceled (in shares)	(13,949)
Ending balance, nonvested (in shares)	360,611	394,329
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share)	$ 120.92
Granted (in USD per share)	159.26
Vested (in USD per share)	116.94
Canceled (in USD per share)	139.61
Ending balance, nonvested (in USD per share)	$ 138.85	$ 120.92
RSUs - Additional Disclosures
Stock-based compensation expense	$ 24,073	$ 23,025	$ 21,190
Expense for nonvested restricted stock units has yet to be recognized	$ 18,627
Expense for nonvested restricted stock units has yet to be recognized, amortized over a weighted-average period (in months)	21 months
Total fair value of shares vested	$ 20,681	21,576	21,173
Tax benefit relating to issuance of common stock for restricted stock units	$ 2,451	$ 939	$ 870
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit, vesting period (in years)	1 year
Number of Shares
Granted (in shares)	9,900	12,430	14,404
Vested (in shares)	(12,639)	(13,740)
Ending balance, nonvested (in shares)	9,845
RSUs - Additional Disclosures
Stock-based compensation expense	$ 1,697	$ 1,560	$ 824
Expense for nonvested restricted stock units has yet to be recognized	$ 596
Expense for nonvested restricted stock units has yet to be recognized, amortized over a weighted-average period (in months)	4 months
Tax benefit relating to issuance of common stock for restricted stock units	$ 270	$ 105

Stock Incentive Plans - Long te

Stock Incentive Plans - Long term incentive plans (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Performance period (in years)	3 years
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
LTIP three-year plan	. 17, 2015	. 16, 2014	. 15, 2013
Number of shares issued	308,278	227,707	175,291
Share value on date of issuance (in USD per share)	$ 176.39	$ 157.07	$ 113.91
Total value	$ 54,377	$ 35,766	$ 19,967

Stock Incentive Plans - Status

Stock Incentive Plans - Status and changes of shares of long term incentive plans shares (Details) - LTIP - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Number of Shares
Beginning balance, nonvested (in shares)	734,744
Granted (in shares)	191,986
Vested (in shares)	(256,071)
Canceled (in shares)	(12,388)
Ending balance, nonvested (in shares)	658,271	734,744
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share)	$ 119.56
Granted (in USD per share)	206.99
Vested (in USD per share)	122.11
Canceled (in USD per share)	128.63
Ending balance, nonvested (in USD per share)	$ 143.90	$ 119.56
LTIP - Additional Disclosures
Stock-based compensation expense	$ 65,640	$ 27,219	$ 21,150
Tax benefit (cost)	$ 3,893	$ 1,701	$ 3,119
Shares surrendered upon exercise of stock	139,918	113,074	78,173

Stock Incentive Plans - Restric

Stock Incentive Plans - Restricted shares (Details) - Director - Restricted Stock $ in Thousands	12 Months Ended
	Jun. 30, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 468
Tax benefit (cost)	$ (32)

Research and Development (Detai

Research and Development (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Research and Development [Abstract]
Research and development costs	$ 327,877	$ 336,675	$ 359,796
Costs incurred in connection with research and development contracts	$ 40,823	$ 65,292	$ 57,999

Financial Instruments - Carryin

Financial Instruments - Carrying value of long-term debt and estimated fair value of long-term debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 4,460,402	$ 5,383,343
Estimated fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 4,548,796	$ 5,645,529

Financial Instruments - Additio

Financial Instruments - Additional information (Details) € in Millions	Jun. 30, 2018EUR (€)
Senior Notes | Senior Notes Due 2025
Derivative [Line Items]
Aggregate principal amount	€ 700

Financial Instruments - Locatio

Financial Instruments - Location and fair value of derivative financial instruments reported in the consolidated balance sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Cross-currency swap contracts | Other assets
Derivatives, Fair Value [Line Items]
Net investment hedges	$ 7,614	$ 15,135
Costless collar contracts | Non-trade and notes receivable
Derivatives, Fair Value [Line Items]
Cash flow hedges	932	430
Costless collar contracts | Other accrued liabilities
Derivatives, Fair Value [Line Items]
Cash flow hedges	$ 236	$ 2,027

Financial Instruments - Gains (

Financial Instruments - Gains (losses) on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cross-currency swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive (loss) on derivatives and non-derivatives	$ (9,209)	$ (6,003)
Foreign denominated debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive (loss) on derivatives and non-derivatives	$ (9,543)	$ (16,175)

Financial Instruments - Summary

Financial Instruments - Summary of financial assets and liabilities that were measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017
Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value	$ 5,315	$ 16,064
Derivatives | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value	0	0
Derivatives | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value	5,315	16,064
Derivatives | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value	0	0
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	2,956	3,008
Equity securities | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	2,956	3,008
Equity securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	0	0
Equity securities | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	5,331	5,968
Corporate bonds | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	5,331	5,968
Corporate bonds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	0	0
Corporate bonds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	0	0
Asset-backed and mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	3,911	4,762
Asset-backed and mortgage-backed securities | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	0	0
Asset-backed and mortgage-backed securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	3,911	4,762
Asset-backed and mortgage-backed securities | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	0	0
Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value	14,110	16,496
Derivatives | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value	0	0
Derivatives | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value	14,110	16,496
Derivatives | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value	0	0
Investments measured at net asset value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial asset, fair value	$ 7,208	$ 7,073

Contingencies (Details)

Contingencies (Details) $ in Thousands	Jun. 30, 2018USD ($)
Loss Contingencies [Line Items]
Reserve for environmental matters	$ 18,024
Environmental Issue
Loss Contingencies [Line Items]
Largest range for any one site	9,500
Environmental Issue | Minimum
Loss Contingencies [Line Items]
Estimated total liability for environmental sites	18,000
Environmental Issue | Maximum
Loss Contingencies [Line Items]
Estimated total liability for environmental sites	$ 81,000

Quarterly Information (Unaud105

Quarterly Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 3,817,477	$ 3,749,591	$ 3,370,673	$ 3,364,651	$ 3,496,238	$ 3,119,139	$ 2,670,804	$ 2,743,131	$ 14,302,392	$ 12,029,312	$ 11,360,753
Net income attributable to common shareholders	$ 353,256	$ 365,989	$ 56,159	$ 285,397	$ 293,305	$ 238,673	$ 241,305	$ 210,129	$ 1,060,801	$ 983,412	$ 806,840
Diluted earnings per share (in USD per share)	$ 2.62	$ 2.70	$ 0.41	$ 2.10	$ 2.15	$ 1.75	$ 1.78	$ 1.55	$ 7.83	$ 7.25	$ 5.89

Schedule II - Valuation and 106

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning Of Period	$ 14,336	$ 8,010	$ 9,284
Additions Charged to Costs and Expenses	2,861	3,559	1,419
Other (Deductions)	(7,525)		(2,693)
Other Additions		2,767
Balance At End Of Period	9,672	14,336	8,010
Deferred tax asset valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning Of Period	684,079	332,708	330,006
Additions Charged to Costs and Expenses	10,778	349,803	2,702
Other Additions	0	1,568	0
Balance At End Of Period	$ 694,857	$ 684,079	$ 332,708