Parker-Hannifin (PH) 10-K 25 Aug 21 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Jun. 30, 2021	Jul. 31, 2021	Dec. 31, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2021
Current Fiscal Year End Date	--06-30
Document Transition Report	false
Entity File Number	1-4982
Entity Registrant Name	PARKER-HANNIFIN CORPORATION
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-0451060
Entity Address, Address Line One	6035 Parkland Boulevard,
Entity Address, City or Town	Cleveland,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44124-4141
City Area Code	216
Local Phone Number	896-3000
Title of 12(b) Security	Common Shares, $.50 par value
Trading Symbol	PH
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 34,984,991,426
Entity Common Stock, Shares Outstanding		129,101,437
Documents Incorporated by Reference	Portions of the Definitive Proxy Statement for the Company’s 2021 Annual Meeting of Shareholders, to be held on October 27, 2021, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0000076334
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019
Income Statement [Abstract]
Net Sales		$ 14,347,640	$ 13,695,520	[1]	$ 14,320,324	[1]
Cost of sales		10,449,680	10,292,291	[1]	10,688,970	[1]
Selling, general and administrative expenses		1,527,302	1,656,553	[1]	1,543,939	[1]
Interest expense		250,036	308,161	[1]	190,138	[1]
Other income, net		(17,003)	(67,112)	[1]	(61,247)	[1]
(Gain) loss on disposal of assets		(109,332)	(1,227)	[1]	9,049	[1]
Income before income taxes		2,246,957	1,506,854	[1]	1,949,475	[1]
Income taxes		500,096	304,522	[1]	424,392	[1]
Net Income	[2]	1,746,861	1,202,332	[3]	1,525,083	[4]
Less: Noncontrolling interest in subsidiaries' earnings		761	362	[4]	567	[4]
Net Income Attributable to Common Shareholders		$ 1,746,100	$ 1,201,970	[4]	$ 1,524,516	[4]
Earnings per Share Attributable to Common Shareholders
Basic earnings per share (in USD per share)		$ 13.54	$ 9.36	[1]	$ 11.73	[1]
Diluted earnings per share (in USD per share)		$ 13.35	$ 9.26	[1]	$ 11.57	[1]
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.
[3]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[4]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019	[3]
Statement of Comprehensive Income [Abstract]
Net Income	[1]	$ 1,746,861	$ 1,202,332	[2]	$ 1,525,083
Less: Noncontrolling interest in subsidiaries' earnings		761	362	[3]	567
Net Income Attributable to Common Shareholders		1,746,100	1,201,970	[3]	1,524,516
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment and other (net of tax of $(3,664), $4,820 and $709 in 2021, 2020 and 2019)		328,792	(182,957)	[3]	(66,392)
Retirement benefits plan activity (net of tax of $(205,845), $97,477 and $71,821 in 2021, 2020 and 2019)		664,076	(317,546)	[3]	(227,783)
Other comprehensive income (loss)	[1]	992,868	(500,503)	[3]	(294,175)
Less: Other comprehensive income (loss) for noncontrolling interests		720	(676)	[3]	53
Other comprehensive income (loss) attributable to common shareholders		992,148	(499,827)	[3]	(294,228)
Total Comprehensive Income Attributable to Common Shareholders		$ 2,738,248	$ 702,143	[3]	$ 1,230,288
[1]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.
[2]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Consolidated Statement of Com_2

Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation and other, tax (expense) benefit	$ (3,664)	$ 4,820	$ 709
Retirement benefits plan activity, tax (expense) benefit	$ (205,845)	$ 97,477	$ 71,821

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands		Jun. 30, 2021	Jun. 30, 2020	[1]
Current Assets
Cash and cash equivalents		$ 733,117	$ 685,514
Marketable securities and other investments		39,116	70,805
Trade accounts receivable, net		2,183,594	1,854,398
Non-trade and notes receivable		326,315	244,870
Inventories		2,090,642	1,964,195
Prepaid expenses and other		243,966	214,986
Total Current Assets		5,616,750	5,034,768
Property, plant and equipment		6,040,220	5,810,681
Less: Accumulated depreciation		3,773,744	3,517,946
Property, plant and equipment, net		2,266,476	2,292,735
Deferred income taxes		104,251	126,839
Investments and other assets		774,239	764,563
Intangible assets, net		3,519,797	3,798,913
Goodwill		8,059,687	7,869,935
Total Assets		20,341,200	19,887,753
Current Liabilities
Notes payable and long-term debt payable within one year		2,824	809,529
Accounts payable, trade		1,667,878	1,111,759
Accrued payrolls and other compensation		507,027	424,231
Accrued domestic and foreign taxes		236,384	195,314
Other accrued liabilities		682,390	607,540
Total Current Liabilities		3,096,503	3,148,373
Long-term debt		6,582,053	7,652,256
Pensions and other postretirement benefits		1,055,638	1,887,414
Deferred income taxes		553,981	418,851
Other liabilities		639,355	539,089
Total Liabilities		11,927,530	13,645,983
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 2021 and 2020		90,523	90,523
Additional capital		329,619	416,585
Retained earnings		14,915,497	13,643,907
Accumulated other comprehensive (loss)		(1,566,727)	(2,558,875)
Treasury shares at cost: 51,900,460 in 2021 and 52,490,165 in 2020		(5,370,605)	(5,364,916)
Total Shareholders' Equity		8,398,307	6,227,224
Noncontrolling interests		15,363	14,546
Total Equity	[2]	8,413,670	6,241,770
Total Liabilities and Equity		$ 20,341,200	$ 19,887,753
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Jun. 30, 2021	Jun. 30, 2020
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)	51,900,460	52,490,165

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019
Cash Flows From Operating Activities
Net Income	[1]	$ 1,746,861	$ 1,202,332	[2]	$ 1,525,083	[3]
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		269,943	252,899	[2]	225,675	[2]
Amortization		325,447	284,632	[2]	210,514	[2]
Stock incentive plan compensation		121,483	111,375	[2]	104,078	[2]
Deferred income taxes		(51,500)	12,290	[2]	36,435	[2]
Foreign currency transaction (gain) loss		(10,948)	(10,018)	[2]	5,888	[2]
(Gain) loss on sale of property, plant and equipment		(109,332)	(1,850)	[2]	5,091	[2]
Loss on sale of businesses		0	0	[2]	5,854	[2]
Gain on sale and impairment of investments		(12,616)	(2,084)	[2]	(16,749)	[2]
(Gain) loss on marketable securities		(11,570)	(587)	[2]	7,563	[2]
Other		14,424	17,984	[2]	0	[2]
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable		(298,511)	578,853	[2]	2,452	[2]
Inventories		(85,597)	206,937	[2]	(67,867)	[2]
Prepaid expenses and other		(25,508)	(9,312)	[2]	(33,335)	[2]
Other assets		(8,779)	(23,547)	[2]	2,677	[2]
Accounts payable, trade		526,781	(370,765)	[2]	(12,397)	[2]
Accrued payrolls and other compensation		72,412	(62,715)	[2]	2,088	[2]
Accrued domestic and foreign taxes		36,552	30,918	[2]	(30,593)	[2]
Other accrued liabilities		11,397	(148,531)	[2]	16,698	[2]
Pensions and other postretirement benefits		17,875	55,522	[2]	(168,368)	[2]
Other liabilities		46,187	(53,384)	[2]	(90,647)	[2]
Net cash provided by operating activities		2,575,001	2,070,949	[2]	1,730,140	[2]
Cash Flows From Investing Activities
Acquisitions (net of cash acquired of $82,192 in 2020 and $690 in 2019)		0	(5,076,064)	[2]	(2,042)	[2]
Capital expenditures		(209,957)	(232,591)	[2]	(195,089)	[2]
Proceeds from sale of property, plant and equipment		140,590	26,345	[2]	46,592	[2]
Proceeds from sale of businesses		0	0	[2]	19,678	[2]
Purchase of marketable securities and other investments		(34,809)	(194,742)	[2]	(181,780)	[2]
Maturities and sales of marketable securities and other investments		79,419	275,483	[2]	74,908	[2]
Other		24,744	177,576	[2]	19,223	[2]
Net cash used in investing activities		(13)	(5,023,993)	[2]	(218,510)	[2]
Cash Flows From Financing Activities
Proceeds from exercise of stock options		4,684	2,623	[2]	2,475	[2]
Payments for common shares		(218,818)	(216,049)	[2]	(860,052)	[2]
Acquisition of noncontrolling interests		0	(1,200)	[2]	0	[2]
(Payments of) proceeds from notes payable, net		(723,496)	136,744	[2]	48,828	[2]
Proceeds from long-term borrowings		1,213	1,721,211	[2]	2,336,749	[2]
Payments for long-term borrowings		(1,211,748)	(740,181)	[2]	(213,226)	[2]
Dividends paid		(475,174)	(453,838)	[2]	(412,468)	[2]
Net cash (used in) provided by financing activities		(2,623,339)	449,310	[2]	902,306	[2]
Effect of exchange rate changes on cash		95,954	(30,519)	[2]	(16,306)	[2]
Net increase (decrease) in cash and cash equivalents		47,603	(2,534,253)	[2]	2,397,630	[2]
Cash and cash equivalents at beginning of year	[2]	685,514	3,219,767		822,137
Cash and cash equivalents at end of year		733,117	685,514	[2]	3,219,767	[2]
Cash paid during the year for:
Interest		236,979	308,199	[2]	169,378	[2]
Income taxes		$ 485,885	$ 307,959	[2]	$ 454,699	[2]
[1]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.
[2]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Consolidated Statement of Cas_2

Consolidated Statement of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement of Cash Flows [Abstract]
Acquisitions, cash acquired	$ 82,192	$ 690

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Thousands		Total		Previously Reported		Inventory accounting method change		Common Stock		Common StockPreviously Reported	Additional Capital		Additional CapitalPreviously Reported	Retained Earnings		Retained EarningsPreviously Reported	[1]	Retained EarningsInventory accounting method change	[1]	Accumulated Other Comprehensive (Loss)		Accumulated Other Comprehensive (Loss)Previously Reported	Treasury Shares		Treasury SharesPreviously Reported	Noncontrolling Interests		Noncontrolling InterestsPreviously Reported	Cumulative Effect, Period of Adoption, Adjustment	[1]	Cumulative Effect, Period of Adoption, AdjustmentRetained Earnings	[1]	Cumulative Effect, Period of Adoption, AdjustmentAccumulated Other Comprehensive (Loss)
Beginning balance at Jun. 30, 2018		$ 5,970,953	[1]	$ 5,865,493	[1]	$ 105,460	[1]	$ 90,523	[1]	$ 90,523	$ 496,592	[1]	$ 496,592	$ 11,731,435	[1]	$ 11,625,975		$ 105,460		$ (1,763,086)	[1]	$ (1,763,086)	$ (4,590,138)	[1]	$ (4,590,138)	$ 5,627	[1]	$ 5,627	$ 49,869		$ 51,603		$ (1,734)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		1,525,083	[1],[2]	1,512,931		12,152								1,524,516	[1]											567	[1]
Other comprehensive (loss)		(294,175)	[1],[2]																	(294,228)						53
Dividends paid		(412,468)	[1]											(412,404)	[1]											(64)
Stock incentive plan activity		46,501	[1]								(34,506)												81,007
Shares purchased at cost		(799,999)	[1]																				(799,999)
Ending balance at Jun. 30, 2019	[1]	6,085,764						90,523			462,086			12,895,150						(2,059,048)			(5,309,130)			6,183
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		1,202,332	[1],[3]	1,206,703		(4,371)								1,201,970	[1]											362	[1]
Other comprehensive (loss)		(500,503)	[1],[2]																	(499,827)						(676)
Dividends paid		(453,838)	[1]											(453,213)	[1]											(625)
Stock incentive plan activity		44,716	[1]								(46,265)												90,981
Acquisition activity		10,066	[1]								764															9,302
Shares purchased at cost		(146,767)	[1]																				(146,767)
Ending balance at Jun. 30, 2020	[1]	6,241,770	[4]					90,523			416,585			13,643,907						(2,558,875)			(5,364,916)			14,546
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		1,746,861	[1]	$ 1,732,873		$ 13,988								1,746,100	[1]											761
Other comprehensive (loss)		992,868	[1]																	992,148						720
Dividends paid		(475,174)	[1]											(474,510)	[1]											(664)
Stock incentive plan activity		7,345	[1]								(86,966)												94,311
Shares purchased at cost		(100,000)	[1]																				(100,000)
Ending balance at Jun. 30, 2021		$ 8,413,670	[1]					$ 90,523			$ 329,619			$ 14,915,497	[1]					$ (1,566,727)			$ (5,370,605)			$ 15,363
[1]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.
[2]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[4]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Consolidated Statement of Equ_2

Consolidated Statement of Equity (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends paid (in USD per share)	$ 3.67	$ 3.52	$ 3.16

Business Segment Information

Business Segment Information	12 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION (Dollars in thousands) 2021 2020* 2019* Net Sales: Diversified Industrial: North America $ 6,676,449 $ 6,456,298 $ 6,808,948 International 5,283,710 4,504,587 5,000,599 Aerospace Systems 2,387,481 2,734,635 2,510,777 $ 14,347,640 $ 13,695,520 $ 14,320,324 Segment Operating Income: Diversified Industrial: North America $ 1,247,419 $ 985,944 $ 1,138,586 International 988,054 674,763 804,890 Aerospace Systems 402,895 476,900 487,757 Total segment operating income 2,638,368 2,137,607 2,431,233 Corporate administration 178,427 170,903 194,994 Income before interest expense and other expense 2,459,941 1,966,704 2,236,239 Interest expense 250,036 308,161 190,138 Other (income) expense (37,052) 151,689 96,626 Income before income taxes $ 2,246,957 $ 1,506,854 $ 1,949,475 Assets: Diversified Industrial $ 16,518,688 $ 15,973,576 $ 13,189,204 Aerospace Systems (a) 3,077,395 3,251,522 1,546,053 Corporate 745,117 662,655 2,996,771 $ 20,341,200 $ 19,887,753 $ 17,732,028 Property Additions: Diversified Industrial $ 186,233 $ 183,981 $ 172,348 Aerospace Systems 20,705 44,546 20,748 Corporate 3,019 4,064 1,993 $ 209,957 $ 232,591 $ 195,089 Depreciation: Diversified Industrial $ 229,891 $ 218,092 $ 203,144 Aerospace Systems 32,151 27,749 16,268 Corporate 7,901 7,058 6,263 $ 269,943 $ 252,899 $ 225,675 Amortization: Diversified Industrial $ 274,368 $ 243,714 $ 196,680 Aerospace Systems 51,079 40,918 3,072 $ 325,447 $ 284,632 $ 199,752 (Dollars in thousands) 2021 2020 2019 By Geographic Area (b) Net Sales: North America $ 9,046,162 $ 9,166,773 $ 9,318,195 International 5,301,478 4,528,747 5,002,129 $ 14,347,640 $ 13,695,520 $ 14,320,324 Long-Lived Assets: North America $ 1,448,109 $ 1,494,858 $ 1,052,263 International 818,367 797,877 716,024 $ 2,266,476 $ 2,292,735 $ 1,768,287 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 (2021 - $219,081; 2020 - $237,911; 2019 - $234,703). (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 property, plant and equipment based on physical location. *Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	The term "year" and references to specific years refer to the applicable fiscal years.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. We evaluate 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 42 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 our diverse group of customers throughout the world, we do not consider ourself 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 our products and geographic operations mitigate the risk that adverse changes with respect to any particular product and geographic operation would materially affect our operating results. Use of Estimates - The preparation of consolidated financial statements in conformity with U.S. GAAP 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. Change in Accounting Principle - During the fourth quarter of 2021, the Company changed its method of accounting for certain domestic inventory previously valued by the last-in, first-out ("LIFO") method to the first-in, first-out ("FIFO") method. All prior periods presented have been retrospectively adjusted to apply the new method of accounting. Refer to Note 7 for more information on the change in inventory accounting method. 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 - Revenues are recognized when control of performance obligations, which are distinct goods or services within the contract, is transferred to the customer. Control is transferred when the customer has the ability to direct the use of and obtain the benefits from the goods or services. When revenue is recognized at a point in time, control generally transfers at time of shipment. Revenues are recognized over time if the customer simultaneously receives control as the Company performs work under a contract, if the customer controls the asset as it is being produced, or if the product produced for the customer has no alternative use and the Company has a contractual right to payment. For contracts where revenue is recognized over time, we use the cost-to-cost, efforts expended or units of delivery method depending on the nature of the contract, including length of production time. The estimation of these costs and efforts expended requires judgment on the part of management due to the duration of the contractual agreements as well as the technical nature of the products involved. We make adjustments to these estimates on a consistent basis and establish a contract reserve when the estimated costs to complete a contract exceed the expected contract revenues. A contract’s transaction price is allocated to each distinct performance obligation. When there are multiple performance obligations within a contract, the transaction price is allocated to each performance obligation based on its standalone selling price. The primary method used to estimate a standalone selling price is the price observed in standalone sales to customers of the same product or service. Revenue is recognized when control of the individual performance obligations is transferred to the customer. We consider the contractual consideration payable by the customer and assesses variable consideration that may affect the total transaction price. Variable consideration primarily includes prompt pay discounts, rebates and volume discounts and is included in the estimated transaction price when there is a basis to reasonably estimate the amount, including whether the estimate should be constrained in order to avoid a significant reversal of revenue in a future period. These estimates are based on historical experience, anticipated performance under the terms of the contract and our best judgment at the time. Payment terms vary by customer and the geographic location of the customer. The time between when revenue is recognized and payment is due is not significant. Our contracts with customers generally do not include significant financing components or noncash consideration. Taxes collected from customers and remitted to governmental authorities are excluded from revenue. Shipping and handling costs are treated as fulfillment costs and are included in cost of sales. The costs to obtain a contract where the amortization period for the related asset is one year or less are expensed as incurred. There is generally no unilateral right to return products. The Company primarily offers an assurance-type standard warranty that the product will conform to certain specifications for a defined period of time or usage after delivery. This type of warranty does not represent a separate performance obligation. Cash - Cash equivalents consist of short-term, highly liquid investments with a maturity of three months or less. These investments are carried at cost plus accrued interest and 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, which are carried at cost plus accrued interest. Marketable securities and other investments also include investments in equity securities which are carried at fair value. Changes in fair value related to equity securities are recorded in net income. We have the ability to liquidate these 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. We evaluate the collectibility of our receivables based on historical experience and current and forecasted economic conditions based on management's judgment. Additionally, receivables are written off to bad debt when management makes a final determination of uncollectibility. Allowance for credit losses was $12,078 and $11,644 at June 30, 2021 and 2020, 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, 2021 2020 Notes receivable $ 144,441 $ 97,370 Accounts receivable, other 181,874 147,500 Total $ 326,315 $ 244,870 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 three The plant and equipment caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2021 2020 Land and land improvements $ 342,950 $ 345,746 Buildings and building equipment 1,848,141 1,773,041 Machinery and equipment 3,653,566 3,515,842 Construction in progress 195,563 176,052 Total $ 6,040,220 $ 5,810,681 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 $292,217 and $317,975 at June 30, 2021 and 2020, 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 $41,048, $74,517 and $93,239 in 2021, 2020 and 2019, respectively. Intangible Assets - Intangible assets primarily include patents and technology, trademarks and customer lists and contracts and are recorded at cost and amortized on a straight-line method. Patents and technology are amortized over the shorter of their remaining useful or legal life. Trademarks and customer contracts 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. We recognize 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. Income tax effects resulting from adjusting temporary differences recorded in accumulated other comprehensive (loss) are released when the circumstances on which they are based cease to exist. 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 accumulated other comprehensive (loss). Such adjustments will affect net income only upon sale or liquidation of the underlying foreign investments. Exchange (gains) losses 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 $(10,948), $(10,018) and $5,888, in 2021, 2020 and 2019, respectively. Subsequent Events - We 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, 2021. On August 2, 2021, the Company announced that it reached an agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Meggitt plc ("Meggitt") for 800 pence per share (the "Acquisition"), or approximately £6,308 million. We intend to fund the proposed Acquisition with cash and new debt. The proposed Acquisition remains subject to customary closing conditions, including regulatory clearances and approval by Meggitt’s shareholders. In connection with the proposed Acquisition, the Company entered into a bridge credit agreement (the "Bridge Credit Agreement") on August 2, 2021. Under the Bridge Credit Agreement, lenders are committed to provide senior, unsecured financing in the aggregate principal amount of £6,524 million. Any borrowings made under the Bridge Credit Agreement would mature 364 days from the initial funding date. The commitments are intended to be drawn to finance the proposed Acquisition only to the extent that we do not arrange for alternative financing prior to closing. Recent Accounting Pronouncements - In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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. We adopted ASU 2016-13 on July 1, 2020. The adoption of this guidance, using the modified retrospective method, did not result in a cumulative-effect adjustment to retained earnings and did not have a material impact on the consolidated financial statements or related disclosures.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognition	Revenue recognition Revenue is derived primarily from the sale of products in a variety of mobile, industrial and aerospace markets. A majority of the Company’s revenues are recognized at a point in time. However, a portion of the Company’s revenues are recognized over time. Disaggregation of revenue Revenue from contracts with customers is disaggregated by technology platforms for the Diversified Industrial Segment, by product platforms for the Aerospace Systems Segment and by geographic location for the total Company. 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. Contracts consist of individual purchase orders for standard product, blanket purchase orders and production contracts. Blanket purchase orders are often associated with individual purchase orders and have terms and conditions which are subject to a master supply or distributor agreement. Individual production contracts, some of which may include multiple performance obligations, are typically for products manufactured to the customer's specifications. Revenue in the Diversified Industrial Segment is typically recognized at the time of product shipment, but a portion of revenue may be recognized over time for installation services or in situations where the product has no alternative use and we have an enforceable right to payment. Diversified Industrial Segment revenues by technology platform: 2021 2020 Motion Systems $ 3,081,366 $ 2,996,645 Flow and Process Control 4,108,080 3,795,952 Filtration and Engineered Materials 4,770,713 4,168,288 Total $ 11,960,159 $ 10,960,885 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. Aerospace Systems Segment products also perform a vital role in naval vessels and land-based weapon systems. Contracts generally consist of blanket purchase orders and individual long-term production contracts. Blanket purchase orders, which have terms and conditions subject to long-term supply agreements, are typically associated with individual purchase orders. Revenue in the Aerospace Systems Segment is typically recognized at the time of product shipment, but a portion of revenue may be recognized over time in situations where the customer controls the asset as it is produced or the product has no alternative use and we have an enforceable right to payment. Aerospace Systems Segment revenues by product platform: 2021 2020 Flight Control Actuation $ 698,877 $ 711,017 Fuel and Inerting 509,687 592,543 Hydraulics 308,835 411,823 Engines 575,804 616,747 Fluid Conveyance 196,348 304,769 Other 97,930 97,736 Total $ 2,387,481 $ 2,734,635 Total revenues by geographic region based on the Company's selling operation's location: 2021 2020 North America $ 9,046,162 $ 9,166,773 Europe 2,919,025 2,596,125 Asia Pacific 2,215,686 1,790,032 Latin America 166,767 142,590 Total $ 14,347,640 $ 13,695,520 The majority of revenues from the Aerospace Systems Segment is generated from sales to customers within North America. Contract balances Contract assets and contract liabilities are reported on a contract-by-contract basis. Contract assets reflect revenue recognized and performance obligations satisfied in advance of customer billing. Contract liabilities relate to payments received in advance of the satisfaction of performance under the contract. Payments from customers are received based on the terms established in the contract with the customer. Total contract assets and contract liabilities are as follows: 2021 2020 Contract assets, current (included within Prepaid expenses and other) $ 34,190 $ 30,827 Contract assets, noncurrent (included within Investments and other assets) 1,884 1,497 Total contract assets 36,074 32,324 Contract liabilities, current (included within Other accrued liabilities) (51,211) (51,278) Contract liabilities, noncurrent (included within Other liabilities) (3,080) (3,232) Total contract liabilities (54,291) (54,510) Net contract liabilities $ (18,217) $ (22,186) At June 30, 2021, the change in net contract liabilities was primarily due to timing differences between when revenue was recognized and the receipt of advance payments. During 2021, approximately $33 million of revenue was recognized that was included in the contract liabilities at June 30, 2020. Remaining performance obligations Our backlog represents written firm orders from a customer to deliver products and, in the case of blanket purchase orders, only includes the portion of the order for which a schedule or release has been agreed to with the customer. We believe our backlog represents our unsatisfied or partially unsatisfied performance obligations. Backlog at June 30, 2021 was $6,503 million, of which approximately 84 percent is expected to be recognized as revenue within the next 12 months and the balance thereafter.

Acquisitions

Acquisitions	12 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Acquisitions - On October 29, 2019, we completed the acquisition of a 100 percent equity interest in LORD Corporation ("Lord") for approximately $3,455 million in cash, including the assumption of debt. On September 16, 2019, we completed the acquisition of a 100 percent equity interest in EMFCO Holdings Incorporated, parent company of Exotic Metals Forming Company LLC ("Exotic") for approximately $1,706 million in cash. Lord is a diversified technology and manufacturing company developing highly reliable adhesives and coatings, as well as vibration and motion control technologies, that significantly reduce risk and improve product performance. Lord’s products are used in mission-critical applications in the aerospace, automotive and industrial markets. Lord had annual sales of approximately $1,025 million for its fiscal 2018. For segment reporting purposes, approximately 95 percent of Lord's sales are included in the Diversified Industrial Segment, while the remaining five percent are included in the Aerospace Systems Segment. Lord’s unique and proprietary products, solutions and technologies for mission-critical applications are expected to increase the Company's overall engineered materials product and solutions offerings to enable a stronger value proposition for customers. Exotic designs and manufactures innovative and technically demanding, high temperature, high pressure air and exhaust management solutions for aircraft and engines. Exotic had annual sales of approximately $409 million for its fiscal 2019. For segment reporting purposes, Exotic is included in the Aerospace Systems Segment. We believe Exotic's products and proprietary manufacturing capabilities are complementary to our portfolio of flight control, fuel and inerting, hydraulics, fluid conveyance and engine components. Assets acquired and liabilities assumed are 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. The following presents the estimated fair values of Lord's and Exotic's assets acquired and liabilities assumed on the respective acquisition dates. These estimates are based on available information and are revised during the measurement period, not to exceed 12 months from the acquisition date, as third-party 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 final purchase price allocations for acquisitions in 2020 is as follows: Lord Exotic October 29, 2019 September 16, 2019 Assets: Cash and cash equivalents $ 74,013 $ 8,179 Accounts receivable 153,765 81,336 Inventories 248,600 114,661 Prepaid expenses 24,230 1,343 Property, plant and equipment 409,163 178,393 Deferred income taxes — 2,057 Other assets 41,335 1,226 Intangible assets 1,446,660 874,470 Goodwill 1,970,603 503,725 Total assets acquired 4,368,369 1,765,390 Liabilities: Notes payable and long-term debt payable within one year 156 — Accounts payable, trade 56,186 23,176 Accrued payrolls and other compensation 57,571 8,863 Accrued domestic and foreign taxes 2,898 2,123 Other accrued liabilities 88,394 25,662 Long-term debt 221,161 — Pensions and other postretirement benefits 115,017 — Deferred income taxes 304,445 — Other liabilities 55,832 — Noncontrolling interests 11,266 — Total liabilities and noncontrolling interests assumed 912,926 59,824 Net assets acquired $ 3,455,443 $ 1,705,566 Goodwill is calculated as the excess of the purchase price over the net assets acquired. With respect to the Lord and Exotic acquisitions, goodwill represents cost synergies and enhancements to our existing technologies. For tax purposes, Lord's goodwill is not deductible, and Exotic's goodwill is deductible. Based upon an acquisition valuation, intangibles acquired as part of the Exotic acquisition include $502,470 of customer-related intangible assets, $281,400 of patents and technology and $90,600 of trademarks, with weighted average estimated useful lives of 18, 20 and 20 years, respectively. Similarly, the Lord acquisition includes $869,190 of customer-related intangible assets, $458,030 of patents and technology and $119,440 of trademarks, with weighted average estimated useful lives of 13, 21 and 20 years, respectively. These intangible assets were valued using the income approach, which includes significant assumptions around future revenue growth and discount rates. Such assumptions are classified as level 3 inputs within the fair value hierarchy. Our consolidated financial statements for 2020 include the results of operations of Lord and Exotic from their respective acquisition dates through June 30, 2020. Net sales and segment operating income attributable to these acquisitions during this period and included in our consolidated financial statements totaled $949,066 and $22,330, respectively. Acquisition-related transaction and integration costs totaled $119,214 in 2020. These costs are included in selling, general, and administrative expenses in the Consolidated Statement of Income.

Business Realignment and Acquis

Business Realignment and Acquisition Integration Charges	12 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Business Realignment and Acquisition Integration Charges	Business Realignment and Acquisition Integration Charges The Company incurred business realignment and acquisition integration charges in 2021, 2020 and 2019. During 2021, business realignment charges primarily consisted of actions taken to address the impact of COVID-19 on our business. Such charges were also incurred in 2020, especially within the Aerospace Systems Segment. In 2021, 2020, and 2019 business realignment charges included severance costs related to actions taken under the Company's simplification initiative aimed at reducing organizational and process complexity as well as plant closures. The 2019 acquisition integration charges relate to the 2017 acquisition of CLARCOR, Inc. ("Clarcor") and primarily consist of severance costs and expenses related to plant closures and relocations. A majority of the business realignment charges were incurred in North America and Europe. We believe the realignment actions will positively impact future results of operations but will not have a material effect on liquidity and sources and uses of capital. Business realignment and acquisition integration charges presented in the Business Segment Information are as follows: 2021 2020 2019 Diversified Industrial $ 38,557 $ 52,288 $ 27,830 Aerospace Systems 6,680 22,101 — Corporate administration 1,399 1,175 — Other expense 1,226 50 305 Workforce reductions in connection with such business realignment and acquisition integration charges in the Business Segment Information are as follows: 2021 2020 2019 Diversified Industrial 820 2,394 598 Aerospace Systems 327 1,254 — Corporate administration 20 31 — The business realignment and acquisition integration charges are presented in the Consolidated Statement of Income as follows: 2021 2020 2019 Cost of sales $ 33,746 $ 58,791 $ 14,650 Selling, general and administrative expenses 12,890 16,773 13,180 (Gain) loss on disposal of assets 1,226 50 305 As of June 30, 2021, approximately $56 million in severance payments were made relating to business realignment charges. Remaining payments related to current-year and prior-year business realignment actions of approximately $15 million, a majority of which are expected to be paid by June 30, 2022, 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. We also incurred the following acquisition integration charges related to the Lord and Exotic acquisitions: 2021 2020 Diversified Industrial $ 11,222 $ 20,669 Aerospace Systems 719 1,908 These charges are primarily included in selling, general and administrative expenses within the Consolidated Statement of Income.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Certain amounts below have been adjusted to reflect the retrospective application of our change in inventory accounting method as described in Notes 1 and 7. Income before income taxes was derived from the following sources: 2021 2020 2019 United States $ 1,273,037 $ 828,160 $ 1,140,983 Foreign 973,920 678,694 808,492 $ 2,246,957 $ 1,506,854 $ 1,949,475 Income taxes include the following: 2021 2020 2019 Federal Current $ 247,094 $ 105,796 $ 160,858 Deferred (52,960) 24,905 18,133 Foreign Current 269,607 167,680 206,167 Deferred 8,851 (14,247) 3,202 State and local Current 34,895 18,756 20,932 Deferred (7,391) 1,632 15,100 $ 500,096 $ 304,522 $ 424,392 A reconciliation of the effective income tax rate to the statutory federal rate follows: 2021 2020 2019 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes 1.0 1.4 1.7 Tax related to international activities 3.6 1.8 2.9 Transition tax related to the TCJ Act — (0.7) 0.8 Remeasurement of deferred tax assets and liabilities related to the TCJ Act — — (0.9) Cash surrender value of life insurance (0.6) (0.3) (0.1) Federal manufacturing deduction — — 0.1 Foreign derived intangible income deduction (1.0) (1.5) (1.0) Research tax credit (0.4) (0.6) (0.5) Share-based compensation (1.6) (1.5) (1.7) Other 0.3 0.6 (0.5) Effective income tax rate 22.3 % 20.2 % 21.8 % We made the accounting policy election to treat taxes related to Global Intangible Low-Taxed Income ("GILTI") as a current period expense when incurred. The tax rate impact of GILTI is included with tax related to international activities in the table above. On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, a significant tax-and-spending package intended to provide economic stimulus to address the impact of the COVID-19 pandemic. The CARES Act did not result in a material impact on our effective tax rate. On December 27, 2020, the Consolidated Appropriations Act, 2021, was signed into law. In addition to providing funding for the government, this law provides further COVID-19 economic relief, and extends certain expiring tax provisions. This act did not result in a material impact on our effective tax rate. 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: 2021 2020 Retirement benefits $ 322,931 $ 504,747 Other liabilities and reserves 136,710 139,872 Long-term contracts 5,562 7,392 Stock-based compensation 30,165 35,483 Loss carryforwards 861,013 754,655 Unrealized currency exchange gains and losses 18,841 39,256 Inventory (11,753) (31,081) Tax credit carryforwards 19,709 33,176 Undistributed foreign earnings (21,722) (15,196) Depreciation and amortization (945,422) (988,886) Valuation allowance (865,764) (771,430) Net deferred tax (liability) $ (449,730) $ (292,012) Change in net deferred tax (liability): Provision for deferred tax $ 51,500 $ (12,290) Items of other comprehensive (loss) income (209,509) 102,297 Acquisitions and other 291 (301,690) Total change in net deferred tax $ (157,718) $ (211,683) As of June 30, 2021, we recorded deferred tax assets of $861,013 resulting from $3,473 million in loss carryforwards. A valuation allowance of $841,789 related to the loss carryforwards has been established due to the uncertainty of their realization. Of this valuation allowance, $816,388 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 years to 20 years. In addition, a valuation allowance of $23,975 related to other future deductible items has been established due to the uncertainty of their realization. Although future distributions of foreign earnings to the United States should not be subject to U.S. federal income taxes, other U.S. or foreign taxes may be imposed on such earnings. We have analyzed existing factors and determined we will no longer permanently reinvest certain foreign earnings. On these undistributed foreign earnings of approximately $712 million that are no longer permanently reinvested outside of the United States, we have recorded a deferred tax liability of $16 million. The remaining undistributed foreign earnings of approximately $1,609 million remain permanently reinvested outside the United States at June 30, 2021. Of these undistributed earnings, we have recorded a deferred tax liability of $6 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: 2021 2020 2019 Balance July 1 $ 86,277 $ 140,662 $ 153,091 Additions for tax positions related to current year 10,145 4,955 2,272 Additions for tax positions of prior years 10,320 798 45 Additions for acquisitions 2,376 43,532 — Reductions for tax positions of prior years (1,996) (41,726) (927) Reductions for settlements (7,165) (53,520) (832) Reductions for expiration of statute of limitations (2,252) (3,820) (9,388) Effect of foreign currency translation 3,054 (4,604) (3,599) Balance June 30 $ 100,759 $ 86,277 $ 140,662 The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $100,759, $86,277 and $140,662 as of June 30, 2021, 2020 and 2019, respectively. The accrued interest related to the gross unrecognized tax benefits, excluded from the amounts above, was $17,862, $14,247 and $25,214 as of June 30, 2021, 2020 and 2019, 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 $40,000 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.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Jun. 30, 2021
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: 2021 2020* 2019* Numerator: Net income attributable to common shareholders $ 1,746,100 $ 1,201,970 $ 1,524,516 Denominator: Basic - weighted-average common shares 128,999,879 128,418,495 129,997,640 Increase in weighted-average common shares from dilutive effect of equity-based awards 1,834,599 1,386,539 1,783,977 Diluted - weighted-average common shares, assuming exercise of equity-based awards 130,834,478 129,805,034 131,781,617 Basic earnings per share $ 13.54 $ 9.36 $ 11.73 Diluted earnings per share $ 13.35 $ 9.26 $ 11.57 * Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. For 2021, 2020 and 2019, 0.4 million, 0.6 million and 0.9 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, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. During the fourth quarter of 2021, the Company voluntarily changed its method of accounting for certain domestic inventory previously valued by the LIFO method to the FIFO method. The cumulative effect of this change on periods presented prior to 2019 resulted in an increase in Retained earnings of $105,460 at July 1, 2018. The FIFO method of accounting for inventory is preferable because it conforms the Company's entire inventory to a single method of accounting, it aligns the inventory cost flow assumption with the physical flow of goods, and improves comparability within the industry. The inventories caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2021 2020* Finished products $ 733,744 $ 703,630 Work in process 1,089,976 988,564 Raw materials 266,922 272,001 Total $ 2,090,642 $ 1,964,195 * Year ended June 30, 2020 amounts have been revised to reflect the change in inventory accounting method, as described above and in Note 1 to the consolidated financial statements. As a result of the retrospective application of this change in accounting method, the following financial statement line items within the accompanying financial statements were adjusted, as follows: 2021 2020 2019 Dollars in thousands, except per share amounts As Computed Under LIFO As Reported Under FIFO Effect of Change As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change Consolidated Statements of Income Cost of sales $ 10,464,495 $ 10,449,680 $ (14,815) $ 10,286,518 $ 10,292,291 $ 5,773 $ 10,703,484 $ 10,688,970 $ (14,514) Income before income taxes 2,232,142 2,246,957 14,815 1,512,627 1,506,854 (5,773) 1,933,425 1,949,475 16,050 Income tax expense 499,269 500,096 827 305,924 304,522 (1,402) 420,494 424,392 3,898 Net income 1,732,873 1,746,861 13,988 1,206,703 1,202,332 (4,371) 1,512,931 1,525,083 12,152 Net income attributable to common shareholders 1,732,112 1,746,100 13,988 1,206,341 1,201,970 (4,371) 1,512,364 1,524,516 12,152 Earnings per share attributable to common shareholders: Basic $ 13.43 $ 13.54 $ 0.11 $ 9.39 $ 9.36 $ (0.03) $ 11.63 $ 11.73 $ 0.10 Diluted $ 13.24 $ 13.35 $ 0.11 $ 9.29 $ 9.26 $ (0.03) $ 11.48 $ 11.57 $ 0.09 Consolidated Statements of Comprehensive Income Net income $ 1,732,873 $ 1,746,861 $ 13,988 $ 1,206,703 $ 1,202,332 $ (4,371) $ 1,512,931 $ 1,525,083 $ 12,152 Net income attributable to common shareholders 1,732,112 1,746,100 13,988 1,206,341 1,201,970 (4,371) 1,512,364 1,524,516 12,152 Total comprehensive income attributable to common shareholders 2,724,260 2,738,248 13,988 706,514 702,143 (4,371) 1,218,136 1,230,288 12,152 2021 2020 2019 Dollars in thousands, except per share amounts As Computed Under LIFO As Reported Under FIFO Effect of Change As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change Consolidated Balance Sheets Inventories $ 1,926,263 $ 2,090,642 $ 164,379 $ 1,814,631 $ 1,964,195 $ 149,564 Deferred income taxes - noncurrent liability 516,831 553,981 37,150 382,528 418,851 36,323 Retained earnings 14,788,268 14,915,497 127,229 13,530,666 13,643,907 113,241 Consolidated Statements of Cash Flows Net income $ 1,732,873 $ 1,746,861 $ 13,988 $ 1,206,703 $ 1,202,332 $ (4,371) $ 1,512,931 $1,525,083 $ 12,152 Deferred income taxes (52,327) (51,500) 827 13,692 12,290 (1,402) 32,537 36,435 3,898 Inventories (70,782) (85,597) (14,815) 201,164 206,937 5,773 (51,817) (67,867) (16,050) The effect of change in inventory in 2020 represents the excess of gross FIFO inventories over the cost of such inventories valued on a LIFO basis of $219,854 less the related excess and obsolete reserve of $70,290. As a result of the retrospective application of this change in accounting principle, the following financial statement line items within the unaudited interim 2021 and 2020 quarterly condensed consolidated financial statements were adjusted, as follows: Three Months Ended (Unaudited) September 30, 2020 December 31, 2020 March 31, 2021 Dollars in thousands, except per share amounts As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change Consolidated Statements of Income Cost of sales $ 2,384,328 $ 2,386,449 $ 2,121 $ 2,519,545 $ 2,518,165 $ (1,380) $ 2,714,773 $ 2,712,785 $ (1,988) Income before income taxes 415,295 413,174 (2,121) 576,512 577,892 1,380 597,352 599,340 1,988 Income tax expense 93,578 93,063 (515) 129,015 129,350 335 125,619 126,101 482 Net income 321,717 320,111 (1,606) 447,497 448,542 1,045 471,733 473,239 1,506 Net income attributable to common shareholders 321,409 319,803 (1,606) 447,306 448,351 1,045 471,647 473,153 1,506 Earnings per share attributable to common shareholders: Basic $ 2.50 $ 2.48 $ (0.02) $ 3.47 $ 3.48 $ 0.01 $ 3.65 $ 3.67 $ 0.02 Diluted $ 2.47 $ 2.45 $ (0.02) $ 3.41 $ 3.42 $ 0.01 $ 3.59 $ 3.60 $ 0.01 Three Months Ended (Unaudited) September 30, 2019 December 31, 2019 March 31, 2020 Dollars in thousands, except per share amounts As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change Consolidated Statements of Income Cost of sales $ 2,479,741 $ 2,480,992 $ 1,251 $ 2,682,765 $2,686,131 $ 3,366 $2,766,693 $2,759,637 $ (7,056) Income before income taxes 433,156 431,905 (1,251) 254,746 251,380 (3,366) 454,157 461,213 7,056 Income tax expense 94,115 93,811 (304) 50,148 49,331 (817) 86,788 88,501 1,713 Net income 339,041 338,094 (947) 204,598 202,049 (2,549) 367,369 372,712 5,343 Net income attributable to common shareholders 338,898 337,951 (947) 204,474 201,925 (2,549) 367,253 372,596 5,343 Earnings per share attributable to common shareholders: Basic $ 2.64 $ 2.63 $ (0.01) $ 1.59 $ 1.57 $ (0.02) $ 2.86 $ 2.90 $ 0.04 Diluted $ 2.60 $ 2.60 $ — $ 1.57 $ 1.55 $ (0.02) $ 2.83 $ 2.87 $ 0.04

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Jun. 30, 2021
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, 2019 $ 5,355,165 $ 98,640 $ 5,453,805 Acquisitions 1,966,865 503,725 2,470,590 Foreign currency translation and other (54,457) (3) (54,460) Balance June 30, 2020 $ 7,267,573 $ 602,362 $ 7,869,935 Acquisitions 3,738 — 3,738 Foreign currency translation and other 185,998 16 186,014 Balance June 30, 2021 $ 7,457,309 $ 602,378 $ 8,059,687 Acquisitions represent the goodwill allocation during the measurement period subsequent to the applicable acquisition dates. Refer to Note 3 for further discussion. We test goodwill for impairment at the reporting unit level on an annual basis and between annual tests whenever events or circumstances indicate that the carrying value of a reporting unit may exceed its fair value. Our annual impairment tests performed in 2021, 2020 and 2019 resulted in no impairment loss being recognized. We did not identify any events or circumstances during 2021 that required performance of an interim impairment test. 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: 2021 2020 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Patents and technology $ 999,952 $ 216,314 $ 991,596 $ 162,528 Trademarks 762,130 331,905 748,326 285,197 Customer lists and other 3,869,772 1,563,838 3,791,505 1,284,789 Total $ 5,631,854 $ 2,112,057 $ 5,531,427 $ 1,732,514 Total intangible asset amortization expense in 2021, 2020 and 2019 was $325,447, $284,632 and $205,164, respectively. Estimated intangible asset amortization expense for the five years ending June 30, 2022 through 2026 is $319,900, $304,906, $297,945, $287,617 and $282,431, 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 material intangible asset impairments occurred in 2021, 2020 or 2019.

Financing Arrangements

Financing Arrangements	12 Months Ended
	Jun. 30, 2021
Financing Arrangements [Abstract]
Financing Arrangements	Financing Arrangements The Company has a line of credit totaling $2,500 million through a multi-currency revolving credit agreement with a group of banks, of which $2,500 million was available as of June 30, 2021. The credit agreement expires in September 2024; 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 our credit ratings are lowered. Although a lowering of our credit ratings would likely increase the cost of future debt, it would not limit our 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 $2,500 million of short-term commercial paper notes. There were no commercial paper notes outstanding at June 30, 2021 and $723,500 outstanding at June 30, 2020. The Company had no outstanding borrowings from foreign banks at June 30, 2021 and 2020. The weighted-average interest rate on notes payable during 2021 and 2020 was 0.2 percent and 2.2 percent, respectively. In the ordinary course of business, some of our locations may enter into financial guarantees through financial institutions which enable customers to be reimbursed in the event of nonperformance by the Company.

Debt

Debt	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt June 30, 2021 2020 Domestic: Fixed rate medium-term notes, 3.30% to 6.25%, due 2023 - 2045 $ 2,125,000 $ 2,125,000 Senior Notes, 2.70% to 4.10%, due 2024 - 2049 3,675,000 3,675,000 Term loans, Libor plus 112.5 bps, due 2023 - 2024 — 1,210,313 Foreign: Euro Senior Notes, 1.125%, due 2025 830,060 786,520 Other long-term debt 15,968 12,708 Deferred debt issuance costs (61,156) (71,256) Total long-term debt 6,584,872 7,738,285 Less: Long-term debt payable within one year 2,819 86,029 Long-term debt, net $ 6,582,053 $ 7,652,256 During 2021, we repaid the remaining $890 million and $320 million balances related to the $925 million and $800 million term loans, respectively. Principal amounts of long-term debt payable in the five years ending June 30, 2022 through 2026 are $2,819, $302,396, $576,224, $1,330,535 and $439, respectively. The principal amounts of long-term debt payable exclude the amortization of debt issuance costs.

Leases

Leases	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases We primarily enter into lease agreements for office space, distribution centers, certain manufacturing facilities and equipment. The majority of our leases are operating leases. Finance leases are immaterial to our financial statements. In addition, leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheet. Certain leases contain options that provide us with the ability to extend the lease term. Such options are included in the lease term when it is reasonably certain that the option will be exercised. When accounting for leases, we combine payments for leased assets, related services and other components of a lease. Payments within certain lease agreements are adjusted periodically for changes in an index or rate. The discount rate implicit within our leases is generally not determinable and therefore we determine the discount rate based on our incremental borrowing rate. The incremental borrowing rate for our leases is determined based on lease term and the currency in which lease payments are made. The components of lease expense are as follows: 2021 2020 Operating lease expense $ 48,171 $ 50,267 Short-term lease cost 7,674 8,566 Variable lease cost 5,835 5,108 Total lease cost $ 61,680 $ 63,941 Supplemental cash flow information related to operating leases are as follows: 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 47,080 $ 48,562 Right-of-use assets obtained in exchange for operating lease obligations 41,637 41,069 Supplemental balance sheet information related to operating leases is as follows: 2021 2020 Operating lease right-of-use assets (included within Investments and other assets) $ 131,880 $ 138,601 Current operating lease liabilities (included within Other accrued liabilities) $ 40,193 $ 43,327 Long-term operating lease liabilities (included within Other liabilities) 93,904 96,446 Total operating lease liabilities $ 134,097 $ 139,773 Weighted average remaining lease term 5.5 years 5.2 years Weighted average discount rate 1.8 % 2.1 % Maturities of lease liabilities at June 30, 2021 are as follows: Operating Leases 2022 $ 42,101 2023 29,349 2024 19,633 2025 15,068 2026 10,700 Thereafter 24,715 Total operating lease payments $ 141,566 Less imputed interest 7,469 Total operating lease liabilities $ 134,097 Rental expense in 2019 was $126,752.

Retirement Benefits

Retirement Benefits	12 Months Ended
	Jun. 30, 2021
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. We also have 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. We also sponsor defined contribution plans and participate in government-sponsored programs in certain foreign countries. A summary of the Company's defined benefit pension plans follows: 2021 2020 2019 Benefit cost Service cost $ 84,188 $ 82,743 $ 76,647 Interest cost 102,475 142,479 160,542 Expected return on plan assets (267,579) (266,674) (251,072) Amortization of prior service cost 5,325 5,633 6,655 Amortization of unrecognized actuarial loss 207,897 165,815 121,823 Amortization of transition obligation 18 18 18 Net periodic benefit cost $ 132,324 $ 130,014 $ 114,613 Components of net pension benefit cost, other than service cost, are included in other (income), net in the Consolidated Statement of Income. 2021 2020 Change in benefit obligation Benefit obligation at beginning of year $ 6,405,623 $ 5,487,574 Service cost 84,188 82,743 Interest cost 102,475 142,479 Acquisition — 380,237 Plan amendments 2,311 3,286 Actuarial (gain) loss (91,719) 569,306 Benefits paid (264,062) (232,048) Foreign currency translation and other 84,187 (27,954) Benefit obligation at end of year $ 6,323,003 $ 6,405,623 Change in plan assets Fair value of plan assets at beginning of year $ 4,594,106 $ 4,244,969 Actual gain on plan assets 831,762 253,684 Acquisition — 280,103 Employer contributions 76,936 72,753 Benefits paid (264,062) (232,048) Foreign currency translation and other 66,835 (25,355) Fair value of plan assets at end of year $ 5,305,577 $ 4,594,106 Funded status $ (1,017,426) $ (1,811,517) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (4,944) $ (1,423) Pensions and other postretirement benefits (1,012,482) (1,810,094) Net amount recognized $ (1,017,426) $ (1,811,517) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial loss $ 1,090,343 $ 1,921,389 Prior service cost 15,006 17,184 Transition obligation 8 26 Net amount recognized $ 1,105,357 $ 1,938,599 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. At June 30, 2021, the benefit obligation decreased primarily due to slightly higher discount rates, partially offset by updated census data and assumptions. The benefit obligation increased in 2020 upon acquisition of the Lord pension plans. Significant reductions in the discount rates also contributed to the increase in the benefit obligation, which was partially offset by a reduced salary scale and updated mortality assumptions for the domestic qualified defined benefit plan. Investment gains are the primary contributing factor for the increase in plan assets' fair value during 2021. The increase in the plan assets' fair value in 2020 is attributable to the acquisition of the Lord pension plans and investment gains. The accumulated benefit obligation for all defined benefit plans was $6,069 million and $6,102 million at June 30, 2021 and 2020, respectively. Information for pension plans with accumulated benefit obligations in excess of plan assets: 2021 2020 Accumulated benefit obligation $ 5,358,817 $ 6,028,952 Fair value of plan assets 4,546,301 4,503,316 Information for pension plans with projected benefit obligations in excess of plan assets: 2021 2020 Projected benefit obligation $ 5,620,693 $ 6,348,500 Fair value of plan assets 4,568,113 4,523,545 We expect to make cash contributions of approximately $102 million to our defined benefit pension plans in 2022, the majority of which relates to our non-U.S. plans. Estimated future benefit payments in the five years ending June 30, 2022 through 2026 are $303,856, $283,530, $327,149, $302,877 and $305,135, respectively, and $1,644,821 in the aggregate for the five years ending June 30, 2027 through June 30, 2031. The assumptions used to measure net periodic benefit cost for the Company's significant defined benefit plans are: 2021 2020 2019 U.S. defined benefit plan Discount rate 2.36 % 3.28 % 4.01 % Average increase in compensation 2.98 % 3.60 % 3.65 % Expected return on plan assets 6.75 % 7.00 % 7.00 % Non-U.S. defined benefit plans Discount rate 0.2 to 3.03% 0.2 to 2.96% 0.3 to 3.37% Average increase in compensation 1.75 to 4.50% 1.75 to 3.90% 1.75 to 5.50% Expected return on plan assets 1.0 to 5.40% 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: 2021 2020 U.S. defined benefit plan Discount rate 2.55 % 2.36 % Average increase in compensation 3.05 % 2.98 % Non-U.S. defined benefit plans Discount rate 0.25 to 2.95% 0.2 to 3.03% Average increase in compensation 1.75 to 4.50% 1.75 to 4.50% 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: 2021 2020 Equity securities 38 % 41 % Debt securities 41 % 49 % Other investments 21 % 10 % 100 % 100 % The weighted-average target asset allocation as of June 30, 2021 is 40 percent equity securities, 43 percent debt securities and 17 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 plan account for approximately 75 percent of our total defined benefit plan assets. The overall investment strategy with respect to our U.S. defined benefit plan is to use a funding strategy more heavily weighted toward liability-hedging assets as the funded status improves. Over time, we will continue to add long duration fixed income investments to the portfolio. These securities are highly correlated with our pension liabilities and will be managed in a liability framework. The fair values of pension plan assets at June 30, 2021 and at June 30, 2020, by asset class, are as follows: June 30, 2021 Quoted Prices In Significant Other Significant Cash and cash equivalents $ 248,525 $ 241,421 $ 7,104 $ — Equity securities U.S. based companies 408,301 408,301 — — Non-U.S. based companies 12,834 12,834 — — Fixed income securities Corporate debt securities 531,497 1,440 530,057 — Government issued securities 151,458 105,167 46,291 — Mutual funds Equity funds 6,768 6,768 — — Fixed income funds 6,506 6,506 — — Mutual funds measured at net asset value 368,340 Common/Collective trusts measured at net asset value 3,161,683 Limited Partnerships measured at net asset value 126,606 Miscellaneous 283,059 — 283,059 — Total at June 30, 2021 $ 5,305,577 $ 782,437 $ 866,511 $ — June 30, 2020 Quoted Prices In Significant Other Significant Cash and cash equivalents $ 97,112 $ 96,004 $ 1,108 $ — Equity securities U.S. based companies 243,656 243,656 — — Non-U.S. based companies 9,152 9,152 — — Fixed income securities Corporate debt securities 616,582 1,477 615,105 — Government issued securities 471,059 379,128 91,931 — Mutual funds Equity funds 111,466 111,466 — — Fixed income funds 12,912 12,912 — — Mutual funds measured at net asset value 259,776 Common/Collective trusts Common/Collective trusts measured at net asset value 2,711,736 Limited Partnerships measured at net asset value 104,760 Miscellaneous (44,105) — (44,105) — Total at June 30, 2020 $ 4,594,106 $ 853,795 $ 664,039 $ — Cash and cash equivalents are valued at cost, which approximates fair value. During 2021, the U.S. defined benefit plan implemented a new liability-hedging initiative that requires the plan to maintain a certain cash balance. At June 30, 2021, this required cash balance totaled approximately $162 million. 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 Parker stock with a fair value of $408,301 and $243,656 as of June 30, 2021 and 2020, 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 presented in the tables above to permit reconciliation of the fair value hierarchy to total pension plan assets. Redemption of a certain mutual fund is subject to a lock-up period, lasting throughout its duration, scheduled to terminate July 2026. However, this mutual fund may extend its duration up to an additional two years under certain conditions. Common/Collective trusts primarily consist of equity, fixed income and real estate 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 of all common/collective trusts requires no more than a 90-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 presented in the tables above to permit reconciliation of the fair value hierarchy to total pension plan assets. Limited Partnerships' interest in venture capital investments are measured at fair value based on net asset value as determined by the respective fund investment. A certain limited partnership investment, subject to a one year lock-up period expiring June 30, 2022, is restricted to a maximum redemption of 20 percent of its account balance every six months upon a 90-day notification 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 presented in the tables above to permit reconciliation of the fair value hierarchy to total pension plan assets. Miscellaneous primarily includes 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 plan. 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 the investments in the miscellaneous category is to provide a stable rate of return over a specified period of time. Employee Savings Plan - We sponsor an employee stock ownership plan ("ESOP") as part of our legacy 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. 2021 2020 2019 Shares held by ESOP 4,497,902 5,306,643 6,134,280 Company matching contributions $ 66,249 $ 69,434 $ 72,032 In addition to shares within the ESOP, as of June 30, 2021, employees have elected to invest in 1,258,763 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 our legacy savings and investment 401(k) plan. We make a cash contribution to the participant's RIA each year and participants do not contribute to the RIA. Prior to January 1, 2021, the amount of the annual contribution was based on the participant's age and years of service. Beginning January 1, 2021, we amended the RIA ensuring most participants receive a flat three percent annual contribution of eligible compensation with some grandfathered participants receiving annual contribution calculated at a higher percent of eligible compensation. Under the amended RIA, no participant will receive less than the flat three percent contribution. The Company recognized $41,680, $38,387 and $30,603 in expense related to the RIA in 2021, 2020 and 2019, respectively. During 2020, we acquired several defined contribution plans comprised of similar company matching contributions and RIA features as our legacy plan. We recorded additional company matching expense of $4,623 and $4,190 and RIA expense of $5,425 and $7,439, respectively, for these acquired plans in 2021 and 2020. During 2021, these acquired plans were merged into our legacy 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. We have reserved the right to change these benefit plans. The Company recognized $1,237, $1,551 and $1,838 in expense related to other postretirement benefits in 2021, 2020 and 2019, respectively. Components of net other postretirement benefit cost, other than service cost, are included in other (income), net in the Consolidated Statement of Income. 2021 2020 Change in benefit obligation Benefit obligation at beginning of year $ 72,130 $ 60,998 Service cost 328 250 Interest cost 983 1,686 Acquisition — 12,638 Actuarial (gain) loss (4,139) 1,276 Benefits paid (5,563) (4,718) Benefit obligation at end of year $ 63,739 $ 72,130 Funded status $ (63,739) $ (72,130) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (5,634) $ (6,374) Pensions and other postretirement benefits (58,105) (65,756) Net amount recognized $ (63,739) $ (72,130) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial gain $ (4,311) $ (173) Prior service credit — (73) Net amount recognized $ (4,311) $ (246) 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 decrease in the benefit obligation in 2021, largely reflected in the net actuarial gain component, is primarily due to a slightly higher discount rate and updated census data and actuarial assumptions. The increase in the benefit obligation in 2020, primarily reflected in the acquisition component, is a result of assuming Lord's postretirement plans. The assumptions used to measure the net periodic benefit cost for postretirement benefit obligations are: 2021 2020 2019 Discount rate 2.14 % 3.15 % 3.92 % Current medical cost trend rate (Pre-65 participants) 6.73 % 7.09 % 7.47 % Current medical cost trend rate (Post-65 participants) 7.03 % 7.43 % 7.87 % Ultimate medical cost trend rate 4.50 % 4.50 % 4.50 % Medical cost trend rate decreases to ultimate in year 2028 2028 2026 The discount rate assumption used to measure the benefit obligation was 2.36 percent and 2.14 percent in 2021 and 2020, respectively. Estimated future benefit payments for other postretirement benefits in the five years ending June 30, 2022 through 2026 are $5,634, $5,155, $4,828, $4,540 and $4,317, respectively, and $18,566 in the aggregate for the five years ending June 30, 2027 through June 30, 2031. Other - The Company has established nonqualified deferred compensation programs, which permit officers, directors and certain management employees to annually 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, we maintain a defined contribution nonqualified supplemental executive pension plan in which the Company is the only contributor. During 2021, 2020 and 2019, we recorded expense relating to these programs of $44,906, $5,863 and $5,916, respectively. The Company has invested in corporate-owned life insurance policies to assist in meeting the obligations 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, 2021
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, 2019 $ (1,011,656) $ (1,047,392) $ (2,059,048) Other comprehensive (loss) before reclassifications (182,281) (447,161) (629,442) Amounts reclassified from accumulated other comprehensive (loss) — 129,615 129,615 Balance June 30, 2020 $ (1,193,937) $ (1,364,938) $ (2,558,875) Other comprehensive income before reclassifications 328,072 502,853 830,925 Amounts reclassified from accumulated other comprehensive (loss) — 161,223 161,223 Balance June 30, 2021 $ (865,865) $ (700,862) $ (1,566,727) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2021: 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 $ (5,270) Other (income) expense, net Recognized actuarial loss (207,896) Other (income) expense, net Total before tax (213,166) Tax benefit 51,943 Net of tax $ (161,223) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2020: 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 $ (5,531) Other (income) expense, net Recognized actuarial loss (165,550) Other (income) expense, net Total before tax (171,081) Tax benefit 41,466 Net of tax $ (129,615) 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. In March 2020, the Company suspended the share repurchase program in response to business uncertainty resulting from the COVID-19 pandemic. During 2021, the Company reinitiated the share repurchase program and began repurchasing shares under the program in February 2021. The number of common shares repurchased at the average purchase price follows: 2021 2020 2019 Shares repurchased 331,259 818,581 4,755,273 Average price per share including commissions $ 301.88 $ 179.29 $ 168.23

Stock Incentive Plans

Stock Incentive Plans	12 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock Incentive Plans	Stock Incentive Plans The Company's 2016 Omnibus Stock Incentive Plan ("2016 SIP") 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. On October 23, 2019, the number of shares of common stock authorized for issuance under the 2016 SIP increased to 23.8 million shares. At June 30, 2021, 11.3 million common stock shares were available for future issuance. We satisfy share-based incentive award obligations by issuing shares of common stock out of treasury, which have been repurchased pursuant to our share repurchase program described in Note 13, 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 The fair value of each SAR award granted in 2021, 2020 and 2019 was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions: 2021 2020 2019 Risk-free interest rate 0.4 % 1.5 % 2.8 % Expected life of award 5.4 years 5.1 years 5.1 years Expected dividend yield of stock 2.0 % 2.0 % 1.9 % Expected volatility of stock 35.2 % 25.9 % 24.2 % Weighted-average fair value $ 53.92 $ 31.68 $ 35.09 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 our 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 our historical common stock prices over a time-frame similar to the expected life of the award. SAR activity during 2021 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, 2020 5,183,970 $ 132.42 Granted 741,852 $ 209.56 Exercised (1,741,352) $ 116.51 Canceled (35,884) $ 185.29 Outstanding June 30, 2021 4,148,586 $ 152.44 6.3 years $ 641.7 Exercisable June 30, 2021 2,677,757 $ 134.55 5.1 years $ 462.1 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, 2020 1,539,502 $ 32.41 Granted 741,852 $ 53.92 Vested (774,721) $ 32.09 Canceled (35,804) $ 42.50 Nonvested June 30, 2021 1,470,829 $ 43.19 During 2021, 2020 and 2019, we recognized stock-based compensation expense of $35,212, $26,108 and $26,568, 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. At June 30, 2021, $13,089 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 16 months. The total fair value of shares vested during 2021, 2020 and 2019 was $24,857, $27,209 and $25,365, respectively. Information related to SAR awards exercised during 2021, 2020 and 2019 is as follows: 2021 2020 2019 Net cash proceeds $ 4,684 $ 2,623 $ 2,475 Intrinsic value 225,025 133,641 95,502 Income tax benefit $ 37,437 $ 21,132 $ 15,584 Number of shares surrendered 316,330 228,986 158,610 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 2021, 2020 and 2019 was based on the fair market value of our 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, 2020 350,573 $ 160.66 Granted 137,488 $ 218.17 Vested (130,121) $ 161.75 Canceled (8,354) $ 188.20 Nonvested June 30, 2021 349,586 $ 182.22 During 2021, 2020 and 2019, we recognized stock-based compensation expense of $26,009, $25,560 and $25,258, respectively, relating to RSU awards for employees. At June 30, 2021, $20,543 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 20 months. The total fair value of RSU awards vested during 2021, 2020 and 2019 was $21,048, $23,380 and $20,475, respectively. We recognized an income tax benefit of $796, $1,037 and $1,548 relating to the issuance of common stock for RSU awards that vested during 2021, 2020 and 2019, respectively. Additionally, we granted RSUs with a one-year vesting period to non-employee members of the Board of Directors. Recipients receive a dividend equivalent payable in common shares, equal to the cash dividend per share paid to common shareholders. A summary of the status and changes of shares subject to Board of Directors RSU awards and the related average price per share follows: Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2020 8,262 $ 187.49 Granted 8,122 $ 214.46 Vested (8,298) $ 187.49 Canceled (610) $ 203.23 Nonvested June 30, 2021 7,476 $ 215.51 The fair value of each RSU award granted to the Board of Directors in 2021, 2020 and 2019 was based on the fair market value of our common stock on the date of grant. In 2021, 2020 and 2019, we recognized stock-based compensation expense of $1,458, $1,434, and $1,345, respectively, relating to these awards. During 2021, 2020 and 2019, we recognized an income tax benefit (cost) of $2,115, $86 and $(82), respectively, related to the vesting of Board of Directors RSU awards. At June 30, 2021, $649 of expense with respect to 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 five months. 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 our revenue growth, earnings per share growth and return on invested capital during the three-year performance period. Stock issued and surrendered for LTIP 2021 2020 2019 LTIP three-year plan 2018-19-20 2017-18-19 2016-17-18 Number of shares issued 210,864 279,469 293,136 Number of shares surrendered 105,402 132,449 134,169 Share value on date of issuance $ 317.60 $ 134.95 $ 183.00 Total value of shares issued $ 66,970 $ 37,714 $ 53,644 Under the Company's 2019-20-21 LTIP, a payout of unrestricted stock will be issued in April 2022. The fair value of each LTIP award granted in 2021, 2020 and 2019 was based on the fair market value of our common stock on the date of grant. These nonvested LTIP awards entitle participants to earn a dividend equivalent unit, payable in common shares, equal to the cash dividend per share paid to common shareholders. These dividend equivalent units do not have dividend or voting rights and are subject to the same performance goals as the initial award granted. 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, 2020 539,059 $ 186.75 Granted 141,122 $ 242.80 Vested (173,582) $ 208.83 Canceled (11,548) $ 199.95 Nonvested June 30, 2021 495,051 $ 194.68 During 2021, 2020 and 2019, we recorded stock-based compensation expense of $58,804, $58,273 and $50,908, respectively, relating to the LTIP. During 2021, 2020 and 2019, we recognized an income tax benefit (cost) of $1,974, $(1,251) and $14,101, respectively, relating to the LTIP.

Research and Development

Research and Development	12 Months Ended
	Jun. 30, 2021
Research and Development [Abstract]
Research and Development	Research and DevelopmentResearch and development costs amounted to $259,039 in 2021, $293,837 in 2020 and $294,852 in 2019. 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 $54,051 in 2021, $56,964 in 2020 and $44,484 in 2019. 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, 2021
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 and equity investments. Deposits are recorded at cost, and equity investments are recorded at fair value. Changes in fair value of equity investments are recognized in net income. The carrying value of long-term debt, which excludes the impact of net unamortized debt issuance costs, and estimated fair value of long-term debt at June 30 are as follows: 2021 2020 Carrying value of long-term debt $ 6,646,029 $ 7,809,541 Estimated fair value of long-term debt 7,527,268 8,574,401 The fair value of long-term debt 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. During 2020, we settled the cross-currency swap with an aggregate notional amount of €235 million, which was designated as a net investment hedge, for proceeds of $44 million. These proceeds are included in cash flows from investing activities in the Consolidated Statement of Cash Flows. Additionally, we entered into two cross-currency swaps with aggregate notional amounts of €359 million and ¥2,149 million due June 2029. These cross-currency swaps have been designated as hedges of net investments in certain foreign subsidiaries. During 2021, we amended the two cross-currency swaps with aggregate notional amounts of €359 million and ¥2,149 million due June 2029 to cross-currency swaps with aggregate notional amounts of €69 million due November 2034, €290 million due May 2038 and ¥2,149 million due November 2034. These cross-currency swaps are each subject to a credit support annex ("CSA") where either party is obligated to post collateral if the outstanding position exceeds a certain threshold governed by the CSA's starting in June 2029. These cross-currency swaps have been designated as hedges of net investments in certain foreign subsidiaries. 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 on the Consolidated Balance Sheet are as follows: Balance Sheet Caption 2021 2020 Net investment hedges Cross-currency swap contracts Other liabilities $ 71,798 $ 30,860 Cash flow hedges Forward exchange contracts Non-trade and notes receivable 5,376 5,311 Forward exchange contracts Other accrued liabilities 9,435 3,474 Costless collar contracts Non-trade and notes receivable 110 2,250 Costless collar contracts Other accrued liabilities 901 661 The cross-currency swap, forward exchange contracts 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. The cross-currency swap contracts have been designated as hedging instruments. The forward exchange and costless collar contracts have not been designated as hedging instruments and are considered to be economic hedges of forecasted transactions. Derivatives not designated as hedges are adjusted to fair value by recording gains and losses through the cost of sales caption in the Consolidated Statement of Income. Derivatives designated as hedges are adjusted to fair value by recording gains and losses through accumulated other comprehensive (loss) on the Consolidated Balance Sheet until the hedged item is recognized in earnings. We elected to assess the effectiveness of the €69 million, €290 million and ¥2,149 million cross-currency swap hedging instruments using the spot method. Under this method, the periodic interest settlements are recognized directly in earnings through interest expense. Net gains (losses) of $16 million and $(27) million relating to forward exchange contracts were recorded within cost of sales on the Consolidated Statement of Income for the year ended June 30, 2021 and 2020, respectively. All other gains or losses on derivative financial instruments that were recorded in the Consolidated Statement of Income during 2021, 2020 and 2019 were not material. (Losses) gains on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) in the Consolidated Balance Sheet are as follows: 2021 2020 Cross-currency swap contracts $ (31,988) $ (9,435) Foreign denominated debt (32,882) 7,205 During 2021 and 2020, the periodic interest settlements related to the cross-currency swaps were not material. No portion of these financial instruments were excluded from the effectiveness testing during 2019. A summary of financial assets and liabilities that were measured at fair value on a recurring basis at June 30, 2021 and 2020 are as follows: June 30, 2021 Quoted Prices In Significant Other Significant Assets: Equity securities $ 20,517 $ 20,517 $ — $ — Derivatives 5,486 — 5,486 — Liabilities: Derivatives 82,134 — 82,134 — June 30, 2020 Quoted Prices In Significant Other Significant Assets: Equity securities $ 7,901 $ 7,901 $ — $ — Derivatives 7,561 — 7,561 — Liabilities: Derivatives 34,995 — 34,995 — The fair values of the equity securities are determined using the closing market price reported in the active market in which the fund is traded. 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. 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.

Contingencies

Contingencies	12 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	ContingenciesThe 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. We are 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 our 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, 2021, we had an accrual of $17,059 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 our liability in proportion to other responsible parties. Our estimated total liability for environmental matters ranges from a minimum of $17.1 million to a maximum of $73.5 million. The largest range for any one site is approximately $11.4 million. The actual costs we will incur are 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.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Jun. 30, 2021
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, 2019, 2020 AND 2021 (Dollars in Thousands) Column A Column B Column C Column D Column E Description Balance at Additions Other Balance Allowance for credit losses: Year ended June 30, 2019 $ 9,672 $ 2,034 $ (2,832) $ 8,874 Year ended June 30, 2020 $ 8,874 $ 4,860 $ (2,090) $ 11,644 Year ended June 30, 2021 $ 11,644 $ 4,673 $ (4,239) $ 12,078 Deferred tax asset valuation allowance: Year ended June 30, 2019 $ 694,857 $ 102,835 $ — $ 797,692 Year ended June 30, 2020 $ 797,692 $ (42,217) $ 15,955 $ 771,430 Year ended June 30, 2021 $ 771,430 $ 94,781 $ (447) $ 865,764 (A) For allowance for credit losses, 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 Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2021
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. We evaluate 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 42 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 our diverse group of customers throughout the world, we do not consider ourself 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 our products and geographic operations mitigate the risk that adverse changes with respect to any particular product and geographic operation would materially affect our operating results.
Use of Estimates	Use of Estimates - The preparation of consolidated financial statements in conformity with U.S. GAAP 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 - Revenues are recognized when control of performance obligations, which are distinct goods or services within the contract, is transferred to the customer. Control is transferred when the customer has the ability to direct the use of and obtain the benefits from the goods or services. When revenue is recognized at a point in time, control generally transfers at time of shipment. Revenues are recognized over time if the customer simultaneously receives control as the Company performs work under a contract, if the customer controls the asset as it is being produced, or if the product produced for the customer has no alternative use and the Company has a contractual right to payment. For contracts where revenue is recognized over time, we use the cost-to-cost, efforts expended or units of delivery method depending on the nature of the contract, including length of production time. The estimation of these costs and efforts expended requires judgment on the part of management due to the duration of the contractual agreements as well as the technical nature of the products involved. We make adjustments to these estimates on a consistent basis and establish a contract reserve when the estimated costs to complete a contract exceed the expected contract revenues. A contract’s transaction price is allocated to each distinct performance obligation. When there are multiple performance obligations within a contract, the transaction price is allocated to each performance obligation based on its standalone selling price. The primary method used to estimate a standalone selling price is the price observed in standalone sales to customers of the same product or service. Revenue is recognized when control of the individual performance obligations is transferred to the customer. We consider the contractual consideration payable by the customer and assesses variable consideration that may affect the total transaction price. Variable consideration primarily includes prompt pay discounts, rebates and volume discounts and is included in the estimated transaction price when there is a basis to reasonably estimate the amount, including whether the estimate should be constrained in order to avoid a significant reversal of revenue in a future period. These estimates are based on historical experience, anticipated performance under the terms of the contract and our best judgment at the time. Payment terms vary by customer and the geographic location of the customer. The time between when revenue is recognized and payment is due is not significant. Our contracts with customers generally do not include significant financing components or noncash consideration. Taxes collected from customers and remitted to governmental authorities are excluded from revenue. Shipping and handling costs are treated as fulfillment costs and are included in cost of sales. The costs to obtain a contract where the amortization period for the related asset is one year or less are expensed as incurred. There is generally no unilateral right to return products. The Company primarily offers an assurance-type standard warranty that the product will conform to certain specifications for a defined period of time or usage after delivery. This type of warranty does not represent a separate performance obligation.
Cash	Cash - Cash equivalents consist of short-term, highly liquid investments with a maturity of three months or less. These investments are carried at cost plus accrued interest and 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, which are carried at cost plus accrued interest. Marketable securities and other investments also include investments in equity securities which are carried at fair value. Changes in fair value related to equity securities are recorded in net income. We have the ability to liquidate these 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. We evaluate the collectibility of our receivables based on historical experience and current and forecasted economic conditions based on management's judgment. Additionally, receivables are written off to bad debt when management makes a final determination of uncollectibility.
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 three
Investments and Other Assets	Investments and Other Assets -
Intangible Assets	Intangible Assets - Intangible assets primarily include patents and technology, trademarks and customer lists and contracts and are recorded at cost and amortized on a straight-line method. Patents and technology are amortized over the shorter of their remaining useful or legal life. Trademarks and customer contracts 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. We recognize 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. Income tax effects resulting from adjusting temporary differences recorded in accumulated other comprehensive (loss) are released when the circumstances on which they are based cease to exist.
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 accumulated other comprehensive (loss). Such adjustments will affect net income only upon sale or liquidation of the underlying foreign investments. Exchange (gains) losses 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 $(10,948), $(10,018) and $5,888, in 2021, 2020 and 2019, respectively.
Subsequent Events	Subsequent Events - We 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, 2021. On August 2, 2021, the Company announced that it reached an agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Meggitt plc ("Meggitt") for 800 pence per share (the "Acquisition"), or approximately £6,308 million. We intend to fund the proposed Acquisition with cash and new debt. The proposed Acquisition remains subject to customary closing conditions, including regulatory clearances and approval by Meggitt’s shareholders. In connection with the proposed Acquisition, the Company entered into a bridge credit agreement (the "Bridge Credit Agreement") on August 2, 2021. Under the Bridge Credit Agreement, lenders are committed to provide senior, unsecured financing in the aggregate principal amount of £6,524 million. Any borrowings made under the Bridge Credit Agreement would mature 364 days from the initial funding date. The commitments are intended to be drawn to finance the proposed Acquisition only to the extent that we do not arrange for alternative financing prior to closing.
Recent Accounting Pronouncements	Recent Accounting Pronouncements - In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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. We adopted ASU 2016-13 on July 1, 2020. The adoption of this guidance, using the modified retrospective method, did not result in a cumulative-effect adjustment to retained earnings and did not have a material impact on the consolidated financial statements or related disclosures.

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Business segment information	(Dollars in thousands) 2021 2020* 2019* Net Sales: Diversified Industrial: North America $ 6,676,449 $ 6,456,298 $ 6,808,948 International 5,283,710 4,504,587 5,000,599 Aerospace Systems 2,387,481 2,734,635 2,510,777 $ 14,347,640 $ 13,695,520 $ 14,320,324 Segment Operating Income: Diversified Industrial: North America $ 1,247,419 $ 985,944 $ 1,138,586 International 988,054 674,763 804,890 Aerospace Systems 402,895 476,900 487,757 Total segment operating income 2,638,368 2,137,607 2,431,233 Corporate administration 178,427 170,903 194,994 Income before interest expense and other expense 2,459,941 1,966,704 2,236,239 Interest expense 250,036 308,161 190,138 Other (income) expense (37,052) 151,689 96,626 Income before income taxes $ 2,246,957 $ 1,506,854 $ 1,949,475 Assets: Diversified Industrial $ 16,518,688 $ 15,973,576 $ 13,189,204 Aerospace Systems (a) 3,077,395 3,251,522 1,546,053 Corporate 745,117 662,655 2,996,771 $ 20,341,200 $ 19,887,753 $ 17,732,028 Property Additions: Diversified Industrial $ 186,233 $ 183,981 $ 172,348 Aerospace Systems 20,705 44,546 20,748 Corporate 3,019 4,064 1,993 $ 209,957 $ 232,591 $ 195,089 Depreciation: Diversified Industrial $ 229,891 $ 218,092 $ 203,144 Aerospace Systems 32,151 27,749 16,268 Corporate 7,901 7,058 6,263 $ 269,943 $ 252,899 $ 225,675 Amortization: Diversified Industrial $ 274,368 $ 243,714 $ 196,680 Aerospace Systems 51,079 40,918 3,072 $ 325,447 $ 284,632 $ 199,752 (Dollars in thousands) 2021 2020 2019 By Geographic Area (b) Net Sales: North America $ 9,046,162 $ 9,166,773 $ 9,318,195 International 5,301,478 4,528,747 5,002,129 $ 14,347,640 $ 13,695,520 $ 14,320,324 Long-Lived Assets: North America $ 1,448,109 $ 1,494,858 $ 1,052,263 International 818,367 797,877 716,024 $ 2,266,476 $ 2,292,735 $ 1,768,287 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 (2021 - $219,081; 2020 - $237,911; 2019 - $234,703). (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 property, plant and equipment based on physical location. *Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2021
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, 2021 2020 Notes receivable $ 144,441 $ 97,370 Accounts receivable, other 181,874 147,500 Total $ 326,315 $ 244,870
Plant and equipment	The plant and equipment caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2021 2020 Land and land improvements $ 342,950 $ 345,746 Buildings and building equipment 1,848,141 1,773,041 Machinery and equipment 3,653,566 3,515,842 Construction in progress 195,563 176,052 Total $ 6,040,220 $ 5,810,681

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Diversified Industrial Segment revenues by technology platform: 2021 2020 Motion Systems $ 3,081,366 $ 2,996,645 Flow and Process Control 4,108,080 3,795,952 Filtration and Engineered Materials 4,770,713 4,168,288 Total $ 11,960,159 $ 10,960,885 Aerospace Systems Segment revenues by product platform: 2021 2020 Flight Control Actuation $ 698,877 $ 711,017 Fuel and Inerting 509,687 592,543 Hydraulics 308,835 411,823 Engines 575,804 616,747 Fluid Conveyance 196,348 304,769 Other 97,930 97,736 Total $ 2,387,481 $ 2,734,635 Total revenues by geographic region based on the Company's selling operation's location: 2021 2020 North America $ 9,046,162 $ 9,166,773 Europe 2,919,025 2,596,125 Asia Pacific 2,215,686 1,790,032 Latin America 166,767 142,590 Total $ 14,347,640 $ 13,695,520
Contract assets and liabilities	Total contract assets and contract liabilities are as follows: 2021 2020 Contract assets, current (included within Prepaid expenses and other) $ 34,190 $ 30,827 Contract assets, noncurrent (included within Investments and other assets) 1,884 1,497 Total contract assets 36,074 32,324 Contract liabilities, current (included within Other accrued liabilities) (51,211) (51,278) Contract liabilities, noncurrent (included within Other liabilities) (3,080) (3,232) Total contract liabilities (54,291) (54,510) Net contract liabilities $ (18,217) $ (22,186)

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Purchase price allocation	The final purchase price allocations for acquisitions in 2020 is as follows: Lord Exotic October 29, 2019 September 16, 2019 Assets: Cash and cash equivalents $ 74,013 $ 8,179 Accounts receivable 153,765 81,336 Inventories 248,600 114,661 Prepaid expenses 24,230 1,343 Property, plant and equipment 409,163 178,393 Deferred income taxes — 2,057 Other assets 41,335 1,226 Intangible assets 1,446,660 874,470 Goodwill 1,970,603 503,725 Total assets acquired 4,368,369 1,765,390 Liabilities: Notes payable and long-term debt payable within one year 156 — Accounts payable, trade 56,186 23,176 Accrued payrolls and other compensation 57,571 8,863 Accrued domestic and foreign taxes 2,898 2,123 Other accrued liabilities 88,394 25,662 Long-term debt 221,161 — Pensions and other postretirement benefits 115,017 — Deferred income taxes 304,445 — Other liabilities 55,832 — Noncontrolling interests 11,266 — Total liabilities and noncontrolling interests assumed 912,926 59,824 Net assets acquired $ 3,455,443 $ 1,705,566

Business Realignment and Acqu_2

Business Realignment and Acquisition Integration Charges (Tables)	12 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Business realignment charges, acquisition integration charges and workforce reductions	Business realignment and acquisition integration charges presented in the Business Segment Information are as follows: 2021 2020 2019 Diversified Industrial $ 38,557 $ 52,288 $ 27,830 Aerospace Systems 6,680 22,101 — Corporate administration 1,399 1,175 — Other expense 1,226 50 305 Workforce reductions in connection with such business realignment and acquisition integration charges in the Business Segment Information are as follows: 2021 2020 2019 Diversified Industrial 820 2,394 598 Aerospace Systems 327 1,254 — Corporate administration 20 31 — The business realignment and acquisition integration charges are presented in the Consolidated Statement of Income as follows: 2021 2020 2019 Cost of sales $ 33,746 $ 58,791 $ 14,650 Selling, general and administrative expenses 12,890 16,773 13,180 (Gain) loss on disposal of assets 1,226 50 305 We also incurred the following acquisition integration charges related to the Lord and Exotic acquisitions: 2021 2020 Diversified Industrial $ 11,222 $ 20,669 Aerospace Systems 719 1,908

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	Income before income taxes was derived from the following sources: 2021 2020 2019 United States $ 1,273,037 $ 828,160 $ 1,140,983 Foreign 973,920 678,694 808,492 $ 2,246,957 $ 1,506,854 $ 1,949,475
Income taxes	Income taxes include the following: 2021 2020 2019 Federal Current $ 247,094 $ 105,796 $ 160,858 Deferred (52,960) 24,905 18,133 Foreign Current 269,607 167,680 206,167 Deferred 8,851 (14,247) 3,202 State and local Current 34,895 18,756 20,932 Deferred (7,391) 1,632 15,100 $ 500,096 $ 304,522 $ 424,392
Effective income tax rate reconciliation to statutory federal rate	A reconciliation of the effective income tax rate to the statutory federal rate follows: 2021 2020 2019 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes 1.0 1.4 1.7 Tax related to international activities 3.6 1.8 2.9 Transition tax related to the TCJ Act — (0.7) 0.8 Remeasurement of deferred tax assets and liabilities related to the TCJ Act — — (0.9) Cash surrender value of life insurance (0.6) (0.3) (0.1) Federal manufacturing deduction — — 0.1 Foreign derived intangible income deduction (1.0) (1.5) (1.0) Research tax credit (0.4) (0.6) (0.5) Share-based compensation (1.6) (1.5) (1.7) Other 0.3 0.6 (0.5) Effective income tax rate 22.3 % 20.2 % 21.8 %
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: 2021 2020 Retirement benefits $ 322,931 $ 504,747 Other liabilities and reserves 136,710 139,872 Long-term contracts 5,562 7,392 Stock-based compensation 30,165 35,483 Loss carryforwards 861,013 754,655 Unrealized currency exchange gains and losses 18,841 39,256 Inventory (11,753) (31,081) Tax credit carryforwards 19,709 33,176 Undistributed foreign earnings (21,722) (15,196) Depreciation and amortization (945,422) (988,886) Valuation allowance (865,764) (771,430) Net deferred tax (liability) $ (449,730) $ (292,012) Change in net deferred tax (liability): Provision for deferred tax $ 51,500 $ (12,290) Items of other comprehensive (loss) income (209,509) 102,297 Acquisitions and other 291 (301,690) Total change in net deferred tax $ (157,718) $ (211,683)
Reconciliation of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2021 2020 2019 Balance July 1 $ 86,277 $ 140,662 $ 153,091 Additions for tax positions related to current year 10,145 4,955 2,272 Additions for tax positions of prior years 10,320 798 45 Additions for acquisitions 2,376 43,532 — Reductions for tax positions of prior years (1,996) (41,726) (927) Reductions for settlements (7,165) (53,520) (832) Reductions for expiration of statute of limitations (2,252) (3,820) (9,388) Effect of foreign currency translation 3,054 (4,604) (3,599) Balance June 30 $ 100,759 $ 86,277 $ 140,662

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Reconciliation of the numerator and denominator of basic and diluted earnings per share	The reconciliation of the numerator and denominator of basic and diluted earnings per share was as follows: 2021 2020* 2019* Numerator: Net income attributable to common shareholders $ 1,746,100 $ 1,201,970 $ 1,524,516 Denominator: Basic - weighted-average common shares 128,999,879 128,418,495 129,997,640 Increase in weighted-average common shares from dilutive effect of equity-based awards 1,834,599 1,386,539 1,783,977 Diluted - weighted-average common shares, assuming exercise of equity-based awards 130,834,478 129,805,034 131,781,617 Basic earnings per share $ 13.54 $ 9.36 $ 11.73 Diluted earnings per share $ 13.35 $ 9.26 $ 11.57 * Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventory components	The inventories caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2021 2020* Finished products $ 733,744 $ 703,630 Work in process 1,089,976 988,564 Raw materials 266,922 272,001 Total $ 2,090,642 $ 1,964,195 * Year ended June 30, 2020 amounts have been revised to reflect the change in inventory accounting method, as described above and in Note 1 to the consolidated financial statements.
Financial statements line item adjusted due to change in accounting method	As a result of the retrospective application of this change in accounting method, the following financial statement line items within the accompanying financial statements were adjusted, as follows: 2021 2020 2019 Dollars in thousands, except per share amounts As Computed Under LIFO As Reported Under FIFO Effect of Change As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change Consolidated Statements of Income Cost of sales $ 10,464,495 $ 10,449,680 $ (14,815) $ 10,286,518 $ 10,292,291 $ 5,773 $ 10,703,484 $ 10,688,970 $ (14,514) Income before income taxes 2,232,142 2,246,957 14,815 1,512,627 1,506,854 (5,773) 1,933,425 1,949,475 16,050 Income tax expense 499,269 500,096 827 305,924 304,522 (1,402) 420,494 424,392 3,898 Net income 1,732,873 1,746,861 13,988 1,206,703 1,202,332 (4,371) 1,512,931 1,525,083 12,152 Net income attributable to common shareholders 1,732,112 1,746,100 13,988 1,206,341 1,201,970 (4,371) 1,512,364 1,524,516 12,152 Earnings per share attributable to common shareholders: Basic $ 13.43 $ 13.54 $ 0.11 $ 9.39 $ 9.36 $ (0.03) $ 11.63 $ 11.73 $ 0.10 Diluted $ 13.24 $ 13.35 $ 0.11 $ 9.29 $ 9.26 $ (0.03) $ 11.48 $ 11.57 $ 0.09 Consolidated Statements of Comprehensive Income Net income $ 1,732,873 $ 1,746,861 $ 13,988 $ 1,206,703 $ 1,202,332 $ (4,371) $ 1,512,931 $ 1,525,083 $ 12,152 Net income attributable to common shareholders 1,732,112 1,746,100 13,988 1,206,341 1,201,970 (4,371) 1,512,364 1,524,516 12,152 Total comprehensive income attributable to common shareholders 2,724,260 2,738,248 13,988 706,514 702,143 (4,371) 1,218,136 1,230,288 12,152 2021 2020 2019 Dollars in thousands, except per share amounts As Computed Under LIFO As Reported Under FIFO Effect of Change As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change Consolidated Balance Sheets Inventories $ 1,926,263 $ 2,090,642 $ 164,379 $ 1,814,631 $ 1,964,195 $ 149,564 Deferred income taxes - noncurrent liability 516,831 553,981 37,150 382,528 418,851 36,323 Retained earnings 14,788,268 14,915,497 127,229 13,530,666 13,643,907 113,241 Consolidated Statements of Cash Flows Net income $ 1,732,873 $ 1,746,861 $ 13,988 $ 1,206,703 $ 1,202,332 $ (4,371) $ 1,512,931 $1,525,083 $ 12,152 Deferred income taxes (52,327) (51,500) 827 13,692 12,290 (1,402) 32,537 36,435 3,898 Inventories (70,782) (85,597) (14,815) 201,164 206,937 5,773 (51,817) (67,867) (16,050) The effect of change in inventory in 2020 represents the excess of gross FIFO inventories over the cost of such inventories valued on a LIFO basis of $219,854 less the related excess and obsolete reserve of $70,290. As a result of the retrospective application of this change in accounting principle, the following financial statement line items within the unaudited interim 2021 and 2020 quarterly condensed consolidated financial statements were adjusted, as follows: Three Months Ended (Unaudited) September 30, 2020 December 31, 2020 March 31, 2021 Dollars in thousands, except per share amounts As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change Consolidated Statements of Income Cost of sales $ 2,384,328 $ 2,386,449 $ 2,121 $ 2,519,545 $ 2,518,165 $ (1,380) $ 2,714,773 $ 2,712,785 $ (1,988) Income before income taxes 415,295 413,174 (2,121) 576,512 577,892 1,380 597,352 599,340 1,988 Income tax expense 93,578 93,063 (515) 129,015 129,350 335 125,619 126,101 482 Net income 321,717 320,111 (1,606) 447,497 448,542 1,045 471,733 473,239 1,506 Net income attributable to common shareholders 321,409 319,803 (1,606) 447,306 448,351 1,045 471,647 473,153 1,506 Earnings per share attributable to common shareholders: Basic $ 2.50 $ 2.48 $ (0.02) $ 3.47 $ 3.48 $ 0.01 $ 3.65 $ 3.67 $ 0.02 Diluted $ 2.47 $ 2.45 $ (0.02) $ 3.41 $ 3.42 $ 0.01 $ 3.59 $ 3.60 $ 0.01 Three Months Ended (Unaudited) September 30, 2019 December 31, 2019 March 31, 2020 Dollars in thousands, except per share amounts As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change As Reported Adjusted Effect of Change Consolidated Statements of Income Cost of sales $ 2,479,741 $ 2,480,992 $ 1,251 $ 2,682,765 $2,686,131 $ 3,366 $2,766,693 $2,759,637 $ (7,056) Income before income taxes 433,156 431,905 (1,251) 254,746 251,380 (3,366) 454,157 461,213 7,056 Income tax expense 94,115 93,811 (304) 50,148 49,331 (817) 86,788 88,501 1,713 Net income 339,041 338,094 (947) 204,598 202,049 (2,549) 367,369 372,712 5,343 Net income attributable to common shareholders 338,898 337,951 (947) 204,474 201,925 (2,549) 367,253 372,596 5,343 Earnings per share attributable to common shareholders: Basic $ 2.64 $ 2.63 $ (0.01) $ 1.59 $ 1.57 $ (0.02) $ 2.86 $ 2.90 $ 0.04 Diluted $ 2.60 $ 2.60 $ — $ 1.57 $ 1.55 $ (0.02) $ 2.83 $ 2.87 $ 0.04

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2021
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, 2019 $ 5,355,165 $ 98,640 $ 5,453,805 Acquisitions 1,966,865 503,725 2,470,590 Foreign currency translation and other (54,457) (3) (54,460) Balance June 30, 2020 $ 7,267,573 $ 602,362 $ 7,869,935 Acquisitions 3,738 — 3,738 Foreign currency translation and other 185,998 16 186,014 Balance June 30, 2021 $ 7,457,309 $ 602,378 $ 8,059,687
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: 2021 2020 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Patents and technology $ 999,952 $ 216,314 $ 991,596 $ 162,528 Trademarks 762,130 331,905 748,326 285,197 Customer lists and other 3,869,772 1,563,838 3,791,505 1,284,789 Total $ 5,631,854 $ 2,112,057 $ 5,531,427 $ 1,732,514

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt	June 30, 2021 2020 Domestic: Fixed rate medium-term notes, 3.30% to 6.25%, due 2023 - 2045 $ 2,125,000 $ 2,125,000 Senior Notes, 2.70% to 4.10%, due 2024 - 2049 3,675,000 3,675,000 Term loans, Libor plus 112.5 bps, due 2023 - 2024 — 1,210,313 Foreign: Euro Senior Notes, 1.125%, due 2025 830,060 786,520 Other long-term debt 15,968 12,708 Deferred debt issuance costs (61,156) (71,256) Total long-term debt 6,584,872 7,738,285 Less: Long-term debt payable within one year 2,819 86,029 Long-term debt, net $ 6,582,053 $ 7,652,256

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Lease expense and supplemental cash flow information	The components of lease expense are as follows: 2021 2020 Operating lease expense $ 48,171 $ 50,267 Short-term lease cost 7,674 8,566 Variable lease cost 5,835 5,108 Total lease cost $ 61,680 $ 63,941 Supplemental cash flow information related to operating leases are as follows: 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 47,080 $ 48,562 Right-of-use assets obtained in exchange for operating lease obligations 41,637 41,069
Supplemental balance sheet information	Supplemental balance sheet information related to operating leases is as follows: 2021 2020 Operating lease right-of-use assets (included within Investments and other assets) $ 131,880 $ 138,601 Current operating lease liabilities (included within Other accrued liabilities) $ 40,193 $ 43,327 Long-term operating lease liabilities (included within Other liabilities) 93,904 96,446 Total operating lease liabilities $ 134,097 $ 139,773 Weighted average remaining lease term 5.5 years 5.2 years Weighted average discount rate 1.8 % 2.1 %
Maturities of lease liabilities	Maturities of lease liabilities at June 30, 2021 are as follows: Operating Leases 2022 $ 42,101 2023 29,349 2024 19,633 2025 15,068 2026 10,700 Thereafter 24,715 Total operating lease payments $ 141,566 Less imputed interest 7,469 Total operating lease liabilities $ 134,097

Retirement Benefits (Tables)

Retirement Benefits (Tables)	12 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Schedule of net benefit costs	A summary of the Company's defined benefit pension plans follows: 2021 2020 2019 Benefit cost Service cost $ 84,188 $ 82,743 $ 76,647 Interest cost 102,475 142,479 160,542 Expected return on plan assets (267,579) (266,674) (251,072) Amortization of prior service cost 5,325 5,633 6,655 Amortization of unrecognized actuarial loss 207,897 165,815 121,823 Amortization of transition obligation 18 18 18 Net periodic benefit cost $ 132,324 $ 130,014 $ 114,613
Schedule of defined benefit plans	2021 2020 Change in benefit obligation Benefit obligation at beginning of year $ 6,405,623 $ 5,487,574 Service cost 84,188 82,743 Interest cost 102,475 142,479 Acquisition — 380,237 Plan amendments 2,311 3,286 Actuarial (gain) loss (91,719) 569,306 Benefits paid (264,062) (232,048) Foreign currency translation and other 84,187 (27,954) Benefit obligation at end of year $ 6,323,003 $ 6,405,623 Change in plan assets Fair value of plan assets at beginning of year $ 4,594,106 $ 4,244,969 Actual gain on plan assets 831,762 253,684 Acquisition — 280,103 Employer contributions 76,936 72,753 Benefits paid (264,062) (232,048) Foreign currency translation and other 66,835 (25,355) Fair value of plan assets at end of year $ 5,305,577 $ 4,594,106 Funded status $ (1,017,426) $ (1,811,517) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (4,944) $ (1,423) Pensions and other postretirement benefits (1,012,482) (1,810,094) Net amount recognized $ (1,017,426) $ (1,811,517) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial loss $ 1,090,343 $ 1,921,389 Prior service cost 15,006 17,184 Transition obligation 8 26 Net amount recognized $ 1,105,357 $ 1,938,599 2021 2020 Change in benefit obligation Benefit obligation at beginning of year $ 72,130 $ 60,998 Service cost 328 250 Interest cost 983 1,686 Acquisition — 12,638 Actuarial (gain) loss (4,139) 1,276 Benefits paid (5,563) (4,718) Benefit obligation at end of year $ 63,739 $ 72,130 Funded status $ (63,739) $ (72,130) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (5,634) $ (6,374) Pensions and other postretirement benefits (58,105) (65,756) Net amount recognized $ (63,739) $ (72,130) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial gain $ (4,311) $ (173) Prior service credit — (73) Net amount recognized $ (4,311) $ (246)
Plan with accumulated benefit obligation in excess of plan assets	Information for pension plans with accumulated benefit obligations in excess of plan assets: 2021 2020 Accumulated benefit obligation $ 5,358,817 $ 6,028,952 Fair value of plan assets 4,546,301 4,503,316
Plan with projected benefit obligation in excess of plan assets	Information for pension plans with projected benefit obligations in excess of plan assets: 2021 2020 Projected benefit obligation $ 5,620,693 $ 6,348,500 Fair value of plan assets 4,568,113 4,523,545
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: 2021 2020 2019 U.S. defined benefit plan Discount rate 2.36 % 3.28 % 4.01 % Average increase in compensation 2.98 % 3.60 % 3.65 % Expected return on plan assets 6.75 % 7.00 % 7.00 % Non-U.S. defined benefit plans Discount rate 0.2 to 3.03% 0.2 to 2.96% 0.3 to 3.37% Average increase in compensation 1.75 to 4.50% 1.75 to 3.90% 1.75 to 5.50% Expected return on plan assets 1.0 to 5.40% 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: 2021 2020 U.S. defined benefit plan Discount rate 2.55 % 2.36 % Average increase in compensation 3.05 % 2.98 % Non-U.S. defined benefit plans Discount rate 0.25 to 2.95% 0.2 to 3.03% Average increase in compensation 1.75 to 4.50% 1.75 to 4.50% The assumptions used to measure the net periodic benefit cost for postretirement benefit obligations are: 2021 2020 2019 Discount rate 2.14 % 3.15 % 3.92 % Current medical cost trend rate (Pre-65 participants) 6.73 % 7.09 % 7.47 % Current medical cost trend rate (Post-65 participants) 7.03 % 7.43 % 7.87 % Ultimate medical cost trend rate 4.50 % 4.50 % 4.50 % Medical cost trend rate decreases to ultimate in year 2028 2028 2026
Allocation and fair values of plan assets	The weighted-average allocation of the majority of the assets related to defined benefit plans is as follows: 2021 2020 Equity securities 38 % 41 % Debt securities 41 % 49 % Other investments 21 % 10 % 100 % 100 % The fair values of pension plan assets at June 30, 2021 and at June 30, 2020, by asset class, are as follows: June 30, 2021 Quoted Prices In Significant Other Significant Cash and cash equivalents $ 248,525 $ 241,421 $ 7,104 $ — Equity securities U.S. based companies 408,301 408,301 — — Non-U.S. based companies 12,834 12,834 — — Fixed income securities Corporate debt securities 531,497 1,440 530,057 — Government issued securities 151,458 105,167 46,291 — Mutual funds Equity funds 6,768 6,768 — — Fixed income funds 6,506 6,506 — — Mutual funds measured at net asset value 368,340 Common/Collective trusts measured at net asset value 3,161,683 Limited Partnerships measured at net asset value 126,606 Miscellaneous 283,059 — 283,059 — Total at June 30, 2021 $ 5,305,577 $ 782,437 $ 866,511 $ — June 30, 2020 Quoted Prices In Significant Other Significant Cash and cash equivalents $ 97,112 $ 96,004 $ 1,108 $ — Equity securities U.S. based companies 243,656 243,656 — — Non-U.S. based companies 9,152 9,152 — — Fixed income securities Corporate debt securities 616,582 1,477 615,105 — Government issued securities 471,059 379,128 91,931 — Mutual funds Equity funds 111,466 111,466 — — Fixed income funds 12,912 12,912 — — Mutual funds measured at net asset value 259,776 Common/Collective trusts Common/Collective trusts measured at net asset value 2,711,736 Limited Partnerships measured at net asset value 104,760 Miscellaneous (44,105) — (44,105) — Total at June 30, 2020 $ 4,594,106 $ 853,795 $ 664,039 $ —
Schedule of employee stock ownership plan (ESOP)	2021 2020 2019 Shares held by ESOP 4,497,902 5,306,643 6,134,280 Company matching contributions $ 66,249 $ 69,434 $ 72,032

Equity (Tables)

Equity (Tables)	12 Months Ended
	Jun. 30, 2021
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, 2019 $ (1,011,656) $ (1,047,392) $ (2,059,048) Other comprehensive (loss) before reclassifications (182,281) (447,161) (629,442) Amounts reclassified from accumulated other comprehensive (loss) — 129,615 129,615 Balance June 30, 2020 $ (1,193,937) $ (1,364,938) $ (2,558,875) Other comprehensive income before reclassifications 328,072 502,853 830,925 Amounts reclassified from accumulated other comprehensive (loss) — 161,223 161,223 Balance June 30, 2021 $ (865,865) $ (700,862) $ (1,566,727)
Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity	Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2021: 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 $ (5,270) Other (income) expense, net Recognized actuarial loss (207,896) Other (income) expense, net Total before tax (213,166) Tax benefit 51,943 Net of tax $ (161,223) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2020: 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 $ (5,531) Other (income) expense, net Recognized actuarial loss (165,550) Other (income) expense, net Total before tax (171,081) Tax benefit 41,466 Net of tax $ (129,615)
Schedule of share repurchases	The number of common shares repurchased at the average purchase price follows: 2021 2020 2019 Shares repurchased 331,259 818,581 4,755,273 Average price per share including commissions $ 301.88 $ 179.29 $ 168.23

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	12 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Weighted average assumptions used in fair value of each stock appreciation right award granted	The fair value of each SAR award granted in 2021, 2020 and 2019 was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions: 2021 2020 2019 Risk-free interest rate 0.4 % 1.5 % 2.8 % Expected life of award 5.4 years 5.1 years 5.1 years Expected dividend yield of stock 2.0 % 2.0 % 1.9 % Expected volatility of stock 35.2 % 25.9 % 24.2 % Weighted-average fair value $ 53.92 $ 31.68 $ 35.09
Stock appreciation rights activity	SAR activity during 2021 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, 2020 5,183,970 $ 132.42 Granted 741,852 $ 209.56 Exercised (1,741,352) $ 116.51 Canceled (35,884) $ 185.29 Outstanding June 30, 2021 4,148,586 $ 152.44 6.3 years $ 641.7 Exercisable June 30, 2021 2,677,757 $ 134.55 5.1 years $ 462.1
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, 2020 1,539,502 $ 32.41 Granted 741,852 $ 53.92 Vested (774,721) $ 32.09 Canceled (35,804) $ 42.50 Nonvested June 30, 2021 1,470,829 $ 43.19
Information related to stock appreciation rights awards exercised	Information related to SAR awards exercised during 2021, 2020 and 2019 is as follows: 2021 2020 2019 Net cash proceeds $ 4,684 $ 2,623 $ 2,475 Intrinsic value 225,025 133,641 95,502 Income tax benefit $ 37,437 $ 21,132 $ 15,584 Number of shares surrendered 316,330 228,986 158,610
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, 2020 350,573 $ 160.66 Granted 137,488 $ 218.17 Vested (130,121) $ 161.75 Canceled (8,354) $ 188.20 Nonvested June 30, 2021 349,586 $ 182.22 Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2020 8,262 $ 187.49 Granted 8,122 $ 214.46 Vested (8,298) $ 187.49 Canceled (610) $ 203.23 Nonvested June 30, 2021 7,476 $ 215.51
Status and changes of shares of long term incentive plans shares and the related average price per share	Stock issued and surrendered for LTIP 2021 2020 2019 LTIP three-year plan 2018-19-20 2017-18-19 2016-17-18 Number of shares issued 210,864 279,469 293,136 Number of shares surrendered 105,402 132,449 134,169 Share value on date of issuance $ 317.60 $ 134.95 $ 183.00 Total value of shares issued $ 66,970 $ 37,714 $ 53,644 Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2020 539,059 $ 186.75 Granted 141,122 $ 242.80 Vested (173,582) $ 208.83 Canceled (11,548) $ 199.95 Nonvested June 30, 2021 495,051 $ 194.68

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Jun. 30, 2021
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, which excludes the impact of net unamortized debt issuance costs, and estimated fair value of long-term debt at June 30 are as follows: 2021 2020 Carrying value of long-term debt $ 6,646,029 $ 7,809,541 Estimated fair value of long-term debt 7,527,268 8,574,401
Location and fair value of derivative financial instruments reported in the consolidated balance sheet	The location and fair value of derivative financial instruments reported on the Consolidated Balance Sheet are as follows: Balance Sheet Caption 2021 2020 Net investment hedges Cross-currency swap contracts Other liabilities $ 71,798 $ 30,860 Cash flow hedges Forward exchange contracts Non-trade and notes receivable 5,376 5,311 Forward exchange contracts Other accrued liabilities 9,435 3,474 Costless collar contracts Non-trade and notes receivable 110 2,250 Costless collar contracts Other accrued liabilities 901 661
(Losses) gains on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss)	(Losses) gains on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) in the Consolidated Balance Sheet are as follows: 2021 2020 Cross-currency swap contracts $ (31,988) $ (9,435) Foreign denominated debt (32,882) 7,205
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, 2021 and 2020 are as follows: June 30, 2021 Quoted Prices In Significant Other Significant Assets: Equity securities $ 20,517 $ 20,517 $ — $ — Derivatives 5,486 — 5,486 — Liabilities: Derivatives 82,134 — 82,134 — June 30, 2020 Quoted Prices In Significant Other Significant Assets: Equity securities $ 7,901 $ 7,901 $ — $ — Derivatives 7,561 — 7,561 — Liabilities: Derivatives 34,995 — 34,995 —

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019
Segment Reporting Information [Line Items]
Net Sales							$ 14,347,640	$ 13,695,520	[1]	$ 14,320,324	[1]
Segment Operating Income							2,459,941	1,966,704		2,236,239
Corporate administration							1,527,302	1,656,553	[1]	1,543,939	[1]
Interest expense							250,036	308,161	[1]	190,138	[1]
Other (income) expense							(37,052)	151,689		96,626
Income before income taxes	$ 599,340	$ 577,892	$ 413,174	$ 461,213	$ 251,380	$ 431,905	2,246,957	1,506,854	[1]	1,949,475	[1]
Assets							20,341,200	19,887,753	[2]	17,732,028
Property Additions							209,957	232,591		195,089
Depreciation							269,943	252,899	[3]	225,675	[3]
Amortization							325,447	284,632		199,752
Long-Lived Assets							2,266,476	2,292,735		1,768,287
Investment in a joint venture							$ 292,217	317,975
Maximum
Segment Reporting Information [Line Items]
Ownership percentage (or less)							50.00%
Operating Segments
Segment Reporting Information [Line Items]
Net Sales							$ 14,347,640	13,695,520		14,320,324
Segment Operating Income							2,638,368	2,137,607		2,431,233
Corporate
Segment Reporting Information [Line Items]
Corporate administration							178,427	170,903		194,994
Assets							745,117	662,655		2,996,771
Property Additions							3,019	4,064		1,993
Depreciation							7,901	7,058		6,263
Diversified Industrial
Segment Reporting Information [Line Items]
Net Sales							11,960,159	10,960,885
Diversified Industrial | Operating Segments
Segment Reporting Information [Line Items]
Assets							16,518,688	15,973,576		13,189,204
Property Additions							186,233	183,981		172,348
Depreciation							229,891	218,092		203,144
Amortization							274,368	243,714		196,680
Aerospace Systems
Segment Reporting Information [Line Items]
Net Sales							2,387,481	2,734,635
Investment in a joint venture							219,081	237,911		234,703
Aerospace Systems | Operating Segments
Segment Reporting Information [Line Items]
Net Sales							2,387,481	2,734,635		2,510,777
Segment Operating Income							402,895	476,900		487,757
Assets							3,077,395	3,251,522		1,546,053
Property Additions							20,705	44,546		20,748
Depreciation							32,151	27,749		16,268
Amortization							51,079	40,918		3,072
North America
Segment Reporting Information [Line Items]
Net Sales							9,046,162	9,166,773		9,318,195
Long-Lived Assets							1,448,109	1,494,858		1,052,263
North America | Diversified Industrial | Operating Segments
Segment Reporting Information [Line Items]
Net Sales							6,676,449	6,456,298		6,808,948
Segment Operating Income							1,247,419	985,944		1,138,586
International
Segment Reporting Information [Line Items]
Net Sales							5,301,478	4,528,747		5,002,129
Long-Lived Assets							818,367	797,877		716,024
International | Diversified Industrial | Operating Segments
Segment Reporting Information [Line Items]
Net Sales							5,283,710	4,504,587		5,000,599
Segment Operating Income							$ 988,054	$ 674,763		$ 804,890
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details) £ / shares in Units, $ in Thousands, £ in Millions	Aug. 02, 2021GBP (£)	Jun. 30, 2022GBP (£)£ / shares	Jun. 30, 2021USD ($)country	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Concentration Risk [Line Items]
Trade accounts receivable, allowance for doubtful accounts			$ 12,078	$ 11,644
Investment in joint-venture companies and company's equity in undistributed earnings			292,217	317,975
Share of earnings from investments in joint-venture companies			41,048	74,517	$ 93,239
Exchange (gains) and losses from transactions in a currency other than the local currency of the entity			$ (10,948)	$ (10,018)	$ 5,888
Subsequent Event | Line of Credit | Bridge Loan | Bridge Credit Agreement
Concentration Risk [Line Items]
Aggregate principal amount | £	£ 6,524
Expiration period	364 days
Subsequent Event | Forecast | Meggitt plc
Concentration Risk [Line Items]
Purchase price to acquire business | £		£ 6,308
Price per share of stock acquired (in pounds per share) | £ / shares		£ 8
Maximum
Concentration Risk [Line Items]
Ownership percentage (or less)			50.00%
Buildings
Concentration Risk [Line Items]
Useful life			40 years
Land Improvements
Concentration Risk [Line Items]
Useful life			15 years
Machinery and Equipment | Minimum
Concentration Risk [Line Items]
Useful life			7 years
Machinery and Equipment | Maximum
Concentration Risk [Line Items]
Useful life			10 years
Vehicles and Office Equipment | Minimum
Concentration Risk [Line Items]
Useful life			3 years
Vehicles and Office Equipment | Maximum
Concentration Risk [Line Items]
Useful life			8 years
Customer Concentration Risk | Revenue Benchmark
Concentration Risk [Line Items]
Percentage of revenue, individual customer, less than			3.00%
Diversified Industrial | International
Concentration Risk [Line Items]
Number of countries operating in | country			42

Significant Accounting Polici_5

Significant Accounting Policies - Non-trade and notes receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Notes receivable	$ 144,441	$ 97,370
Accounts receivable, other	181,874	147,500
Total	$ 326,315	$ 244,870	[1]
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Significant Accounting Polici_6

Significant Accounting Policies - Plant, equipment and depreciation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Land and land improvements	$ 342,950	$ 345,746
Buildings and building equipment	1,848,141	1,773,041
Machinery and equipment	3,653,566	3,515,842
Construction in progress	195,563	176,052
Total	$ 6,040,220	$ 5,810,681	[1]
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Revenue Recognition - Revenues

Revenue Recognition - Revenues by segment and by platform (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019	[1]
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 14,347,640	$ 13,695,520	[1]	$ 14,320,324
Diversified Industrial
Disaggregation of Revenue [Line Items]
Revenues from contracts	11,960,159	10,960,885
Diversified Industrial | Motion Systems
Disaggregation of Revenue [Line Items]
Revenues from contracts	3,081,366	2,996,645
Diversified Industrial | Flow and Process Control
Disaggregation of Revenue [Line Items]
Revenues from contracts	4,108,080	3,795,952
Diversified Industrial | Filtration and Engineered Materials
Disaggregation of Revenue [Line Items]
Revenues from contracts	4,770,713	4,168,288
Aerospace Systems
Disaggregation of Revenue [Line Items]
Revenues from contracts	2,387,481	2,734,635
Aerospace Systems | Flight Control Actuation
Disaggregation of Revenue [Line Items]
Revenues from contracts	698,877	711,017
Aerospace Systems | Fuel and Inerting
Disaggregation of Revenue [Line Items]
Revenues from contracts	509,687	592,543
Aerospace Systems | Hydraulics
Disaggregation of Revenue [Line Items]
Revenues from contracts	308,835	411,823
Aerospace Systems | Engines
Disaggregation of Revenue [Line Items]
Revenues from contracts	575,804	616,747
Aerospace Systems | Fluid Conveyance
Disaggregation of Revenue [Line Items]
Revenues from contracts	196,348	304,769
Aerospace Systems | Other
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 97,930	$ 97,736
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by geographic region (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 14,347,640	$ 13,695,520	[1]	$ 14,320,324	[1]
North America
Disaggregation of Revenue [Line Items]
Revenues from contracts	9,046,162	9,166,773		$ 9,318,195
Europe
Disaggregation of Revenue [Line Items]
Revenues from contracts	2,919,025	2,596,125
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues from contracts	2,215,686	1,790,032
Latin America
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 166,767	$ 142,590
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Revenue Recognition - Contract

Revenue Recognition - Contract assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Contract assets, current (included within Prepaid expenses and other)	$ 34,190	$ 30,827
Contract assets, noncurrent (included within Investments and other assets)	1,884	1,497
Total contract assets	36,074	32,324
Contract liabilities, current (included within Other accrued liabilities)	(51,211)	(51,278)
Contract liabilities, noncurrent (included within Other liabilities)	(3,080)	(3,232)
Total contract liabilities	(54,291)	(54,510)
Net contract liabilities	$ (18,217)	$ (22,186)

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 33
Remaining performance obligation, amount	$ 6,503
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	84.00%
Remaining performance obligation, period	12 months

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Oct. 29, 2019	Sep. 16, 2019	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Acquisition-related transaction costs			$ 119,214
Lord
Business Acquisition [Line Items]
Equity interest	100.00%
Purchase price to acquire business	$ 3,455,000
Aggregate annual sales for businesses acquired, for their most recent fiscal year prior to acquisition	$ 1,025,000
Exotic
Business Acquisition [Line Items]
Equity interest		100.00%
Purchase price to acquire business		$ 1,706,000
Aggregate annual sales for businesses acquired, for their most recent fiscal year prior to acquisition		409,000
Lord and Exotic
Business Acquisition [Line Items]
Net sales, from date of acquisition				$ 949,066
Operating loss, from date of acquisition				$ 22,330
Diversified Industrial | Lord
Business Acquisition [Line Items]
Percentage of revenue allocated to segment	95.00%
Aerospace Systems | Lord
Business Acquisition [Line Items]
Percentage of revenue allocated to segment	5.00%
Customer Relationships | Lord
Business Acquisition [Line Items]
Intangible assets acquired	$ 869,190
Weighted average useful life of intangible assets	13 years
Customer Relationships | Exotic
Business Acquisition [Line Items]
Intangible assets acquired		$ 502,470
Weighted average useful life of intangible assets		18 years
Patents and technology | Lord
Business Acquisition [Line Items]
Intangible assets acquired	$ 458,030
Weighted average useful life of intangible assets	21 years
Patents and technology | Exotic
Business Acquisition [Line Items]
Intangible assets acquired		$ 281,400
Weighted average useful life of intangible assets		20 years
Trademarks | Lord
Business Acquisition [Line Items]
Intangible assets acquired	$ 119,440
Weighted average useful life of intangible assets	20 years
Trademarks | Exotic
Business Acquisition [Line Items]
Intangible assets acquired		$ 90,600
Weighted average useful life of intangible assets		20 years

Acquisitions - Purchase price a

Acquisitions - Purchase price allocation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	[1]	Oct. 29, 2019	Sep. 16, 2019	Jun. 30, 2019
Assets:
Goodwill	$ 8,059,687	$ 7,869,935				$ 5,453,805
Lord
Assets:
Cash and cash equivalents				$ 74,013
Accounts receivable				153,765
Inventories				248,600
Prepaid expenses				24,230
Property, plant and equipment				409,163
Deferred income taxes				0
Other assets				41,335
Intangible assets				1,446,660
Goodwill				1,970,603
Total assets acquired				4,368,369
Liabilities:
Notes payable and long-term debt payable within one year				156
Accounts payable, trade				56,186
Accrued payrolls and other compensation				57,571
Accrued domestic and foreign taxes				2,898
Other accrued liabilities				88,394
Long-term debt				221,161
Pensions and other postretirement benefits				115,017
Deferred income taxes				304,445
Other liabilities				55,832
Noncontrolling interests				11,266
Total liabilities and noncontrolling interests assumed				912,926
Net assets acquired				$ 3,455,443
Exotic
Assets:
Cash and cash equivalents					$ 8,179
Accounts receivable					81,336
Inventories					114,661
Prepaid expenses					1,343
Property, plant and equipment					178,393
Deferred income taxes					2,057
Other assets					1,226
Intangible assets					874,470
Goodwill					503,725
Total assets acquired					1,765,390
Liabilities:
Notes payable and long-term debt payable within one year					0
Accounts payable, trade					23,176
Accrued payrolls and other compensation					8,863
Accrued domestic and foreign taxes					2,123
Other accrued liabilities					25,662
Long-term debt					0
Pensions and other postretirement benefits					0
Deferred income taxes					0
Other liabilities					0
Noncontrolling interests					0
Total liabilities and noncontrolling interests assumed					59,824
Net assets acquired					$ 1,705,566
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Business Realignment and Acqu_3

Business Realignment and Acquisition Integration Charges - Business realignment charges, acquisition integration charges and workforce reductions (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021USD ($)employee	Jun. 30, 2020USD ($)employee	Jun. 30, 2019USD ($)employee
Cost of sales
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 33,746	$ 58,791
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	12,890	16,773
Cost of sales
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment			$ 14,650
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment			13,180
(Gain) loss on disposal of assets
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	1,226	50	305
Operating segments | Diversified Industrial
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 38,557	$ 52,288	$ 27,830
Work force reduction (in employees) | employee	820	2,394	598
Operating segments | Aerospace Systems
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 6,680	$ 22,101	$ 0
Work force reduction (in employees) | employee	327	1,254	0
Corporate administration
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 1,399	$ 1,175	$ 0
Work force reduction (in employees) | employee	20	31	0
Other expense
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 1,226	$ 50	$ 305

Business Realignment and Acqu_4

Business Realignment and Acquisition Integration Charges - Narrative (Details) - Employee severance $ in Millions	12 Months Ended
	Jun. 30, 2021USD ($)
Restructuring Cost and Reserve [Line Items]
Severance payments	$ 56
Remaining severance payments related to current-year and prior-year actions	$ 15

Business Realignment and Acqu_5

Business Realignment and Acquisition Integration Charges - Acquisition integration charges related to the Lord and Exotic acquisitions (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Diversified Industrial
Restructuring Cost and Reserve [Line Items]
Acquisition integration charges	$ 11,222	$ 20,669
Aerospace Systems
Restructuring Cost and Reserve [Line Items]
Acquisition integration charges	$ 719	$ 1,908

Income Taxes - Income before in

Income Taxes - Income before income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
United States	$ 1,273,037	$ 828,160	$ 1,140,983
Foreign	973,920	678,694	808,492
Income before income taxes	$ 2,246,957	$ 1,506,854	$ 1,949,475

Income Taxes - Schedule of inco

Income Taxes - Schedule of income taxes (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019
Federal
Current							$ 247,094	$ 105,796		$ 160,858
Deferred							(52,960)	24,905		18,133
Foreign
Current							269,607	167,680		206,167
Deferred							8,851	(14,247)		3,202
State and local
Current							34,895	18,756		20,932
Deferred							(7,391)	1,632		15,100
Income taxes	$ 126,101	$ 129,350	$ 93,063	$ 88,501	$ 49,331	$ 93,811	$ 500,096	$ 304,522	[1]	$ 424,392	[1]
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Income Taxes - Effective income

Income Taxes - Effective income tax rate reconciliation to statutory federal rate (Details)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%
State and local income taxes	1.00%	1.40%	1.70%
Tax related to international activities	3.60%	1.80%	2.90%
Transition tax related to the TCJ Act	0	(0.007)	0.008
Remeasurement of deferred tax assets and liabilities related to the TCJ Act	0.00%	0.00%	(0.90%)
Cash surrender value of life insurance	(0.60%)	(0.30%)	(0.10%)
Federal manufacturing deduction	0.00%	0.00%	0.10%
Foreign derived intangible income deduction	(1.00%)	(1.50%)	(1.00%)
Research tax credit	(0.40%)	(0.60%)	(0.50%)
Share-based compensation	(1.60%)	(1.50%)	(1.70%)
Other	0.30%	0.60%	(0.50%)
Effective income tax rate	22.30%	20.20%	21.80%

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, 2021	Jun. 30, 2020		Jun. 30, 2019	[1]
Income Tax Disclosure [Abstract]
Retirement benefits	$ 322,931	$ 504,747
Other liabilities and reserves	136,710	139,872
Long-term contracts	5,562	7,392
Stock-based compensation	30,165	35,483
Loss carryforwards	861,013	754,655
Unrealized currency exchange gains and losses	18,841	39,256
Inventory	(11,753)	(31,081)
Tax credit carryforwards	19,709	33,176
Undistributed foreign earnings	(21,722)	(15,196)
Depreciation and amortization	(945,422)	(988,886)
Valuation allowance	(865,764)	(771,430)
Net deferred tax (liability)	(449,730)	(292,012)
Change in net deferred tax (liability):
Provision for deferred tax	51,500	(12,290)	[1]	$ (36,435)
Items of other comprehensive (loss) income	(209,509)	102,297
Acquisitions and other	291	(301,690)
Total change in net deferred tax	$ (157,718)	$ (211,683)
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Deferred tax assets resulting from loss carryforwards	$ 861,013	$ 754,655
Loss carryforwards	3,473,000
Valuation allowance related to the loss carryforwards	841,789
Amount of valuation allowance relating to non-operating entity whose loss carryforward utilization is considered to be remote	$ 816,388
Operating loss carryforward minimum period before expiration	3 years
Operating loss carryforward maximum period before expiration	20 years
Valuation allowance	$ 23,975
Undistributed foreign earnings not permanently reinvested	712,000
Deferred tax liability on undistributed foreign earnings not permanently reinvested	16,000
Undistributed distributed foreign earnings	1,609,000
Deferred tax liability on undistributed foreign earnings not permanently reinvested in their subsidiaries	6,000
Unrecognized tax benefits that would impact effective tax rate if recognized	100,759	86,277	$ 140,662
Accrued interest related to the gross unrecognized tax benefits excluded from the unrecognized tax benefits	17,862	$ 14,247	$ 25,214
Amount of gross unrecognized tax benefits could be reduced by as a result of the revaluation of existing uncertain tax positions	$ 40,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance July 1	$ 86,277	$ 140,662	$ 153,091
Additions for tax positions related to current year	10,145	4,955	2,272
Additions for tax positions of prior years	10,320	798	45
Additions for acquisitions	2,376	43,532	0
Reductions for tax positions of prior years	(1,996)	(41,726)	(927)
Reductions for settlements	(7,165)	(53,520)	(832)
Reductions for expiration of statute of limitations	(2,252)	(3,820)	(9,388)
Effect of foreign currency translation - increase	3,054
Effect of foreign currency translation - decrease		(4,604)	(3,599)
Balance June 30	$ 100,759	$ 86,277	$ 140,662

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of the numerator and denominator of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019
Numerator:
Net income attributable to common shareholders, basic							$ 1,746,100	$ 1,201,970		$ 1,524,516
Net income attributable to common shareholders, diluted							$ 1,746,100	$ 1,201,970		$ 1,524,516
Denominator:
Basic - weighted-average common shares (in shares)							128,999,879	128,418,495		129,997,640
Increase in weighted-average common shares from dilutive effect of equity-based awards (in shares)							1,834,599	1,386,539		1,783,977
Diluted - weighted-average common shares, assuming exercise of stock-based awards (in shares)							130,834,478	129,805,034		131,781,617
Basic earnings per share (in USD per share)	$ 3.67	$ 3.48	$ 2.48	$ 2.90	$ 1.57	$ 2.63	$ 13.54	$ 9.36	[1]	$ 11.73	[1]
Diluted earnings per share (in USD per share)	$ 3.60	$ 3.42	$ 2.45	$ 2.87	$ 1.55	$ 2.60	$ 13.35	$ 9.26	[1]	$ 11.57	[1]
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Number of common shares subject to stock-based awards that were excluded from the computation of diluted earnings per share	0.4	0.6	0.9

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019	Jun. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect	[1]	$ 8,413,670	$ 6,241,770	[2]	$ 6,085,764	$ 5,970,953
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect	[1]	$ 14,915,497	13,643,907		$ 12,895,150	11,731,435
Inventory accounting method change
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect	[1]					105,460
Effect of change in inventory, gross			219,854
Effect of change in inventory, excess and obsolete reserve			$ 70,290
Inventory accounting method change | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect	[1]					$ 105,460
[1]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.
[2]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Inventories - Inventory compone

Inventories - Inventory components (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019
Inventory, Net [Abstract]
Finished products	$ 733,744	$ 703,630
Work in process	1,089,976	988,564
Raw materials	266,922	272,001
Total	$ 2,090,642	$ 1,964,195	[1]
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Inventories - Statements of Inc

Inventories - Statements of Income and Comprehensive Income adjustments due to change in accounting method (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021		Jun. 30, 2020		Jun. 30, 2019
Consolidated Statements of Income
Cost of sales	$ 2,712,785	$ 2,518,165	$ 2,386,449	$ 2,759,637	$ 2,686,131	$ 2,480,992	$ 10,449,680		$ 10,292,291	[1]	$ 10,688,970	[1]
Income before income taxes	599,340	577,892	413,174	461,213	251,380	431,905	2,246,957		1,506,854	[1]	1,949,475	[1]
Income tax expense	126,101	129,350	93,063	88,501	49,331	93,811	500,096		304,522	[1]	424,392	[1]
Net Income	473,239	448,542	320,111	372,712	202,049	338,094	1,746,861	[2]	1,202,332	[2],[3]	1,525,083	[2],[4]
Net income attributable to common shareholders	$ 473,153	$ 448,351	$ 319,803	$ 372,596	$ 201,925	$ 337,951	$ 1,746,100		$ 1,201,970	[4]	$ 1,524,516	[4]
Earnings per share attributable to common shareholders:
Basic (in USD per share)	$ 3.67	$ 3.48	$ 2.48	$ 2.90	$ 1.57	$ 2.63	$ 13.54		$ 9.36	[1]	$ 11.73	[1]
Diluted (in USD per share)	$ 3.60	$ 3.42	$ 2.45	$ 2.87	$ 1.55	$ 2.60	$ 13.35		$ 9.26	[1]	$ 11.57	[1]
Consolidated Statements of Comprehensive Income
Net income	$ 473,239	$ 448,542	$ 320,111	$ 372,712	$ 202,049	$ 338,094	$ 1,746,861	[2]	$ 1,202,332	[2],[3]	$ 1,525,083	[2],[4]
Net income attributable to common shareholders	473,153	448,351	319,803	372,596	201,925	337,951	1,746,100		1,201,970	[4]	1,524,516	[4]
Total comprehensive income attributable to common shareholders							2,738,248		702,143	[4]	1,230,288	[4]
Previously Reported
Consolidated Statements of Income
Cost of sales	2,714,773	2,519,545	2,384,328	2,766,693	2,682,765	2,479,741	10,464,495		10,286,518		10,703,484
Income before income taxes	597,352	576,512	415,295	454,157	254,746	433,156	2,232,142		1,512,627		1,933,425
Income tax expense	125,619	129,015	93,578	86,788	50,148	94,115	499,269		305,924		420,494
Net Income	471,733	447,497	321,717	367,369	204,598	339,041	1,732,873		1,206,703		1,512,931
Net income attributable to common shareholders	$ 471,647	$ 447,306	$ 321,409	$ 367,253	$ 204,474	$ 338,898	$ 1,732,112		$ 1,206,341		$ 1,512,364
Earnings per share attributable to common shareholders:
Basic (in USD per share)	$ 3.65	$ 3.47	$ 2.50	$ 2.86	$ 1.59	$ 2.64	$ 13.43		$ 9.39		$ 11.63
Diluted (in USD per share)	$ 3.59	$ 3.41	$ 2.47	$ 2.83	$ 1.57	$ 2.60	$ 13.24		$ 9.29		$ 11.48
Consolidated Statements of Comprehensive Income
Net income	$ 471,733	$ 447,497	$ 321,717	$ 367,369	$ 204,598	$ 339,041	$ 1,732,873		$ 1,206,703		$ 1,512,931
Net income attributable to common shareholders	471,647	447,306	321,409	367,253	204,474	338,898	1,732,112		1,206,341		1,512,364
Total comprehensive income attributable to common shareholders							2,724,260		706,514		1,218,136
Effect of Change
Consolidated Statements of Income
Cost of sales	(1,988)	(1,380)	2,121	(7,056)	3,366	1,251	(14,815)		5,773		(14,514)
Income before income taxes	1,988	1,380	(2,121)	7,056	(3,366)	(1,251)	14,815		(5,773)		16,050
Income tax expense	482	335	(515)	1,713	(817)	(304)	827		(1,402)		3,898
Net Income	1,506	1,045	(1,606)	5,343	(2,549)	(947)	13,988		(4,371)		12,152
Net income attributable to common shareholders	$ 1,506	$ 1,045	$ (1,606)	$ 5,343	$ (2,549)	$ (947)	$ 13,988		$ (4,371)		$ 12,152
Earnings per share attributable to common shareholders:
Basic (in USD per share)	$ 0.02	$ 0.01	$ (0.02)	$ 0.04	$ (0.02)	$ (0.01)	$ 0.11		$ (0.03)		$ 0.10
Diluted (in USD per share)	$ 0.01	$ 0.01	$ (0.02)	$ 0.04	$ (0.02)	$ 0	$ 0.11		$ (0.03)		$ 0.09
Consolidated Statements of Comprehensive Income
Net income	$ 1,506	$ 1,045	$ (1,606)	$ 5,343	$ (2,549)	$ (947)	$ 13,988		$ (4,371)		$ 12,152
Net income attributable to common shareholders	$ 1,506	$ 1,045	$ (1,606)	$ 5,343	$ (2,549)	$ (947)	13,988		(4,371)		12,152
Total comprehensive income attributable to common shareholders							$ 13,988		$ (4,371)		$ 12,152
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.
[3]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[4]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Inventories - Balance Sheet and

Inventories - Balance Sheet and Statement of Cash Flows adjustments due to change in accounting method (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021		Jun. 30, 2020		Jun. 30, 2019
Consolidated Balance Sheets
Inventories							$ 2,090,642		$ 1,964,195	[1]
Deferred income taxes - noncurrent liability							553,981		418,851	[1]
Retained earnings							14,915,497		13,643,907	[1]
Consolidated Statements of Cash Flows
Net income	$ 473,239	$ 448,542	$ 320,111	$ 372,712	$ 202,049	$ 338,094	1,746,861	[2]	1,202,332	[2],[3]	1,525,083	[2],[4]
Deferred income taxes							(51,500)		12,290	[3]	36,435	[3]
Inventories							(85,597)		206,937	[3]	(67,867)	[3]
Previously Reported
Consolidated Balance Sheets
Inventories							1,926,263		1,814,631
Deferred income taxes - noncurrent liability							516,831		382,528
Retained earnings							14,788,268		13,530,666
Consolidated Statements of Cash Flows
Net income	471,733	447,497	321,717	367,369	204,598	339,041	1,732,873		1,206,703		1,512,931
Deferred income taxes							(52,327)		13,692		32,537
Inventories							(70,782)		201,164		(51,817)
Effect of Change
Consolidated Balance Sheets
Inventories							164,379		149,564
Deferred income taxes - noncurrent liability							37,150		36,323
Retained earnings							127,229		113,241
Consolidated Statements of Cash Flows
Net income	$ 1,506	$ 1,045	$ (1,606)	$ 5,343	$ (2,549)	$ (947)	13,988		(4,371)		12,152
Deferred income taxes							827		(1,402)		3,898
Inventories							$ (14,815)		$ 5,773		$ (16,050)
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.
[3]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[4]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in carrying amount of goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021		Jun. 30, 2020
Goodwill [Roll Forward]
Beginning balance	$ 7,869,935	[1]	$ 5,453,805
Acquisitions	3,738		2,470,590
Foreign currency translation and other	186,014		(54,460)
Ending balance	8,059,687		7,869,935	[1]
Diversified Industrial Segment
Goodwill [Roll Forward]
Beginning balance	7,267,573		5,355,165
Acquisitions	3,738		1,966,865
Foreign currency translation and other	185,998		(54,457)
Ending balance	7,457,309		7,267,573
Aerospace Systems Segment
Goodwill [Roll Forward]
Beginning balance	602,362		98,640
Acquisitions	0		503,725
Foreign currency translation and other	16		(3)
Ending balance	$ 602,378		$ 602,362
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment loss recognized	$ 0	$ 0	$ 0
Intangible amortization expense	325,447,000	$ 284,632,000	$ 205,164,000
Estimated amortization expense, year ending June 30, 2022	319,900,000
Estimated amortization expense, year ending June 30, 2023	304,906,000
Estimated amortization expense, year ending June 30, 2024	297,945,000
Estimated amortization expense, year ending June 30, 2025	287,617,000
Estimated amortization expense, year ending June 30, 2026	$ 282,431,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Gross carrying value and accumulated amortization of intangible assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 5,631,854	$ 5,531,427
Accumulated Amortization	2,112,057	1,732,514
Patents and technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	999,952	991,596
Accumulated Amortization	216,314	162,528
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	762,130	748,326
Accumulated Amortization	331,905	285,197
Customer lists and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,869,772	3,791,505
Accumulated Amortization	$ 1,563,838	$ 1,284,789

Financing Arrangements (Details

Financing Arrangements (Details)	12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Line of Credit Facility [Line Items]
Commercial paper notes outstanding	$ 0	$ 723,500,000
Debt to debt-shareholders' equity ratio	0.44
Maximum
Line of Credit Facility [Line Items]
Debt to debt-shareholders' equity ratio, covenant, maximum	0.65
International
Line of Credit Facility [Line Items]
Short-term borrowings	$ 0	$ 0
Commercial Paper
Line of Credit Facility [Line Items]
Line of credit	2,500,000,000
Line of Credit | Amended And Extended Multi-Currency Credit Agreement
Line of Credit Facility [Line Items]
Line of credit	2,500,000,000
Line of credit available	$ 2,500,000,000
Extension option, term	1 year
Line of Credit
Line of Credit Facility [Line Items]
Weighted-average interest rate of notes payable	0.20%	2.20%

Debt - Schedule of long-term de

Debt - Schedule of long-term debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Long-term debt	$ 6,584,872	$ 7,738,285
Other long-term debt	15,968	12,708
Deferred debt issuance costs	(61,156)	(71,256)
Less: Long-term debt payable within one year	2,819	86,029
Long-term debt, net	6,582,053	7,652,256	[1]
Medium-term Notes | Fixed rate medium-term notes, 3.30% to 6.25%, due 2023 - 2045
Debt Instrument [Line Items]
Long-term debt	$ 2,125,000	2,125,000
Medium-term Notes | Fixed rate medium-term notes, 3.30% to 6.25%, due 2023 - 2045 | Minimum
Debt Instrument [Line Items]
Interest rate	3.30%
Medium-term Notes | Fixed rate medium-term notes, 3.30% to 6.25%, due 2023 - 2045 | Maximum
Debt Instrument [Line Items]
Interest rate	6.25%
Senior Notes | Senior Notes, 2.70% to 4.10%, due 2024 - 2049
Debt Instrument [Line Items]
Long-term debt	$ 3,675,000	3,675,000
Senior Notes | Senior Notes, 2.70% to 4.10%, due 2024 - 2049 | Minimum
Debt Instrument [Line Items]
Interest rate	2.70%
Senior Notes | Senior Notes, 2.70% to 4.10%, due 2024 - 2049 | 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	$ 830,060	786,520
Term Loan | Term loans, Libor plus 112.5 bps, due 2023 - 2024
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 1,210,313
Term Loan | Term loans, Libor plus 112.5 bps, due 2023 - 2024 | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021USD ($)
Debt Instrument [Line Items]
Long-term debt payable in 2022	$ 2,819
Long-term debt payable in 2023	302,396
Long-term debt payable in 2024	576,224
Long-term debt payable in 2025	1,330,535
Long-term debt payable in 2026	439
Term Loan | Term Loan Due September 2023
Debt Instrument [Line Items]
Repayments of debt	890,000
Aggregate principal amount	925,000
Term Loan | Term Loan Due October 2022
Debt Instrument [Line Items]
Repayments of debt	320,000
Aggregate principal amount	$ 800,000

Leases - Lease expense and supp

Leases - Lease expense and supplemental cash flow information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease expense	$ 48,171	$ 50,267
Short-term lease cost	7,674	8,566
Variable lease cost	5,835	5,108
Total lease cost	61,680	63,941
Cash paid for amounts included in the measurement of operating lease liabilities	47,080	48,562
Right-of-use assets obtained in exchange for operating lease obligations	$ 41,637	$ 41,069

Leases - Supplemental balance s

Leases - Supplemental balance sheet information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease right-of-use assets (included within Investments and other assets)	$ 131,880	$ 138,601
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Investments and other assets	Investments and other assets
Current operating lease liabilities (included within Other accrued liabilities)	$ 40,193	$ 43,327
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherAccruedLiabilitiesCurrent	us-gaap:OtherAccruedLiabilitiesCurrent
Long-term operating lease liabilities (included within Other liabilities)	$ 93,904	$ 96,446
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Total operating lease liabilities	$ 134,097	$ 139,773
Weighted average remaining lease term	5 years 6 months	5 years 2 months 12 days
Weighted average discount rate	1.80%	2.10%

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
2022	$ 42,101
2023	29,349
2024	19,633
2025	15,068
2026	10,700
Thereafter	24,715
Total operating lease payments	141,566
Less imputed interest	7,469
Total operating lease liabilities	$ 134,097	$ 139,773

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Rent expense	$ 126,752

Retirement Benefits - Net perio

Retirement Benefits - Net periodic pension cost recognized (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 84,188	$ 82,743	$ 76,647
Interest cost	102,475	142,479	160,542
Expected return on plan assets	(267,579)	(266,674)	(251,072)
Amortization of prior service cost	5,325	5,633	6,655
Amortization of unrecognized actuarial loss	207,897	165,815	121,823
Amortization of transition obligation	18	18	18
Net periodic benefit cost	$ 132,324	$ 130,014	$ 114,613

Retirement Benefits - Summary o

Retirement Benefits - Summary of defined benefit pension plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019
Change in plan assets
Fair value of plan assets at beginning of year	$ 4,594,106
Fair value of plan assets at end of year	5,305,577	$ 4,594,106
Amounts recognized on the Consolidated Balance Sheet
Pensions and other postretirement benefits	(1,055,638)	(1,887,414)	[1]
Pension Plan
Change in benefit obligation
Benefit obligation at beginning of year	6,405,623	5,487,574
Service cost	84,188	82,743		$ 76,647
Interest cost	102,475	142,479		160,542
Acquisition	0	380,237
Plan amendments	2,311	3,286
Actuarial (gain) loss	(91,719)	569,306
Benefits paid	(264,062)	(232,048)
Foreign currency translation and other	84,187	(27,954)
Benefit obligation at end of year	6,323,003	6,405,623		5,487,574
Change in plan assets
Fair value of plan assets at beginning of year	4,594,106	4,244,969
Actual gain on plan assets	831,762	253,684
Acquisition	0	280,103
Employer contributions	76,936	72,753
Benefits paid	(264,062)	(232,048)
Foreign currency translation and other	66,835	(25,355)
Fair value of plan assets at end of year	5,305,577	4,594,106		$ 4,244,969
Funded status	(1,017,426)	(1,811,517)
Amounts recognized on the Consolidated Balance Sheet
Other accrued liabilities	(4,944)	(1,423)
Pensions and other postretirement benefits	(1,012,482)	(1,810,094)
Net amount recognized	(1,017,426)	(1,811,517)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial loss	1,090,343	1,921,389
Prior service cost	15,006	17,184
Transition obligation	8	26
Net amount recognized	$ 1,105,357	$ 1,938,599
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Thousands	Jan. 01, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Required cash balance		$ 162,000
Number of shares invested by employees in company stock		1,258,763
Defined contribution plan, annual contributions per employee not grandfathered	3.00%
Defined contribution plan expense recognized		$ 41,680	$ 38,387	$ 30,603
Company matching contributions		$ 66,249	69,434	72,032
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of assets held in U.S. defined benefit plans from total defined plan assets		75.00%
Lord and Exotic
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan expense recognized		$ 5,425	7,439
Company matching contributions		$ 4,623	4,190
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Maximum percentage of employer 401K matching contribution		4.00%
Common/Collective trusts measured at net asset value
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Investments valued using a net asset value per share, redemption notice period		90 days
Limited Partnership
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Investments valued using a net asset value per share, redemption notice period		90 days
Investments valued using a net asset value per share, redemption restriction period		1 year
Investments valued using a net asset value per share, redemption restriction		20.00%
Investments valued using a net asset value per share, redemption restriction, frequency period		6 months
Mutual funds measured at net asset value
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Investments valued using a net asset value per share, extension period		2 years
Equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted-average target asset allocation		40.00%
Debt securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted-average target asset allocation		43.00%
Other investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted-average target asset allocation		17.00%
Equity securities, U.S. based companies
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Company stock included in U.S. based company equity securities		$ 408,301	243,656
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated benefit obligation for all defined benefit plans		6,069,000	6,102,000
Expected cash contributions to defined benefit pension plans in next fiscal year		102,000
Estimated future benefit payments in the year ending June 30, 2022		303,856
Estimated future benefit payments in the year ending June 30, 2023		283,530
Estimated future benefit payments in the year ending June 30, 2024		327,149
Estimated future benefit payments in the year ending June 30, 2025		302,877
Estimated future benefit payments in the year ending June 30, 2026		305,135
Estimated future benefit payments in the aggregate for the five years ending June 30, 2027 through June 30, 2031		1,644,821
Expense related to other postretirement benefits		$ 132,324	$ 130,014	114,613
Pension Plan | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate		2.55%	2.36%
Other Postretirement Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated future benefit payments in the year ending June 30, 2022		$ 5,634
Estimated future benefit payments in the year ending June 30, 2023		5,155
Estimated future benefit payments in the year ending June 30, 2024		4,828
Estimated future benefit payments in the year ending June 30, 2025		4,540
Estimated future benefit payments in the year ending June 30, 2026		4,317
Estimated future benefit payments in the aggregate for the five years ending June 30, 2027 through June 30, 2031		18,566
Expense related to other postretirement benefits		$ 1,237	$ 1,551	1,838
Discount rate		2.36%	2.14%
Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation expense		$ 44,906	$ 5,863	$ 5,916

Retirement Benefits - Plan with

Retirement Benefits - Plan with accumulated benefit obligation in excess of plan assets (Details) - Pension Plan - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 5,358,817	$ 6,028,952
Fair value of plan assets	$ 4,546,301	$ 4,503,316

Retirement Benefits - Plan wi_2

Retirement Benefits - Plan with projected benefit obligation in excess of plan assets (Details) - Pension Plan - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 5,620,693	$ 6,348,500
Fair value of plan assets	$ 4,568,113	$ 4,523,545

Retirement Benefits - Assumptio

Retirement Benefits - Assumptions used to measure periodic benefit cost (Details) - Pension Plan	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
United States
Assumptions used to measure net periodic benefit cost
Discount rate	2.36%	3.28%	4.01%
Average increase in compensation	2.98%	3.60%	3.65%
Expected return on plan assets	6.75%	7.00%	7.00%
Minimum | Non-U.S. defined benefit plans
Assumptions used to measure net periodic benefit cost
Discount rate	0.20%	0.20%	0.30%
Average increase in compensation	1.75%	1.75%	1.75%
Expected return on plan assets	1.00%	1.00%	1.00%
Maximum | Non-U.S. defined benefit plans
Assumptions used to measure net periodic benefit cost
Discount rate	3.03%	2.96%	3.37%
Average increase in compensation	4.50%	3.90%	5.50%
Expected return on plan assets	5.40%	5.75%	5.75%

Retirement Benefits - Assumpt_2

Retirement Benefits - Assumptions used to measure benefit obligations (Details) - Pension Plan	Jun. 30, 2021	Jun. 30, 2020
United States
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.55%	2.36%
Average increase in compensation	3.05%	2.98%
Minimum | Non-U.S. defined benefit plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.25%	0.20%
Average increase in compensation	1.75%	1.75%
Maximum | Non-U.S. defined benefit plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.95%	3.03%
Average increase in compensation	4.50%	4.50%

Retirement Benefits - Weighted-

Retirement Benefits - Weighted-average allocation of the majority of the assets related to defined benefit plans (Details)	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Weighted-average allocation of assets related to defined benefit plans	100.00%	100.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Weighted-average allocation of assets related to defined benefit plans	38.00%	41.00%
Weighted-average target asset allocation	40.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Weighted-average allocation of assets related to defined benefit plans	41.00%	49.00%
Weighted-average target asset allocation	43.00%
Other investments
Defined Benefit Plan Disclosure [Line Items]
Weighted-average allocation of assets related to defined benefit plans	21.00%	10.00%
Weighted-average target asset allocation	17.00%

Retirement Benefits - Fair valu

Retirement Benefits - Fair values of pension plan assets by asset class (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	$ 5,305,577	$ 4,594,106
Fair Value, Inputs, Level 1, 2 and 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	248,525	97,112
Fair Value, Inputs, Level 1, 2 and 3 | Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	408,301	243,656
Fair Value, Inputs, Level 1, 2 and 3 | Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	12,834	9,152
Fair Value, Inputs, Level 1, 2 and 3 | Fixed income securities, Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	531,497	616,582
Fair Value, Inputs, Level 1, 2 and 3 | Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	151,458	471,059
Fair Value, Inputs, Level 1, 2 and 3 | Mutual funds, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	6,768	111,466
Fair Value, Inputs, Level 1, 2 and 3 | Mutual funds, Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	6,506	12,912
Fair Value, Inputs, Level 1, 2 and 3 | Miscellaneous
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	283,059	(44,105)
Quoted Prices In Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	782,437	853,795
Quoted Prices In Active Markets (Level 1) | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	241,421	96,004
Quoted Prices In Active Markets (Level 1) | Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	408,301	243,656
Quoted Prices In Active Markets (Level 1) | Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	12,834	9,152
Quoted Prices In Active Markets (Level 1) | Fixed income securities, Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	1,440	1,477
Quoted Prices In Active Markets (Level 1) | Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	105,167	379,128
Quoted Prices In Active Markets (Level 1) | Mutual funds, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	6,768	111,466
Quoted Prices In Active Markets (Level 1) | Mutual funds, Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	6,506	12,912
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	866,511	664,039
Significant Other Observable Inputs (Level 2) | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	7,104	1,108
Significant Other Observable Inputs (Level 2) | Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Other Observable Inputs (Level 2) | Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Other Observable Inputs (Level 2) | Fixed income securities, Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	530,057	615,105
Significant Other Observable Inputs (Level 2) | Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	46,291	91,931
Significant Other Observable Inputs (Level 2) | Mutual funds, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Other Observable Inputs (Level 2) | Mutual funds, 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	283,059	(44,105)
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 debt securities
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) | Mutual funds, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Significant Unobservable Inputs (Level 3) | Mutual funds, 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 measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	368,340	259,776
Measured at Net Asset Value | Common/Collective trusts measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	3,161,683	2,711,736
Measured at Net Asset Value | Limited Partnerships measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	$ 126,606	$ 104,760

Retirement Benefits - Employee

Retirement Benefits - Employee stock ownership plan (ESOP) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Shares held by ESOP (in shares)	4,497,902	5,306,643	6,134,280
Company matching contributions	$ 66,249	$ 69,434	$ 72,032

Retirement Benefits - Summary_2

Retirement Benefits - Summary of other postretirement benefit plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Amounts recognized on the Consolidated Balance Sheet
Pensions and other postretirement benefits	$ (1,055,638)	$ (1,887,414)	[1]
Other Postretirement Benefits Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	72,130	60,998
Service cost	328	250
Interest cost	983	1,686
Acquisition	0	12,638
Actuarial (gain) loss	(4,139)	1,276
Benefits paid	(5,563)	(4,718)
Benefit obligation at end of year	63,739	72,130
Funded status	(63,739)	(72,130)
Amounts recognized on the Consolidated Balance Sheet
Other accrued liabilities	(5,634)	(6,374)
Pensions and other postretirement benefits	(58,105)	(65,756)
Net amount recognized	(63,739)	(72,130)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial gain	(4,311)	(173)
Prior service credit	0	(73)
Net amount recognized	$ (4,311)	$ (246)
[1]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Retirement Benefits - Assumpt_3

Retirement Benefits - Assumptions used to measure net periodic benefit cost for postretirement plans (Details) - Other Postretirement Benefits Plan	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.14%	3.15%	3.92%
Ultimate medical cost trend rate	4.50%	4.50%	4.50%
Medical cost trend rate decreases to ultimate in year	2028	2028	2026
Defined benefit plan, participant age range, Pre-65
Defined Benefit Plan Disclosure [Line Items]
Current medical cost trend rate	6.73%	7.09%	7.47%
Defined benefit plan, participant age range, Post-65
Defined Benefit Plan Disclosure [Line Items]
Current medical cost trend rate	7.03%	7.43%	7.87%

Equity - Changes in accumulated

Equity - Changes in accumulated other comprehensive (loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2021		Jun. 30, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	[1]	$ 6,241,770	[2]	$ 6,085,764
Ending balance	[1]	8,413,670		6,241,770	[2]
Foreign Currency Translation Adjustment and Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(1,193,937)		(1,011,656)
Other comprehensive (loss) before reclassifications		328,072		(182,281)
Amounts reclassified from accumulated other comprehensive (loss)		0		0
Ending balance		(865,865)		(1,193,937)
Retirement Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(1,364,938)		(1,047,392)
Other comprehensive (loss) before reclassifications		502,853		(447,161)
Amounts reclassified from accumulated other comprehensive (loss)		161,223		129,615
Ending balance		(700,862)		(1,364,938)
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	[1]	(2,558,875)		(2,059,048)
Other comprehensive (loss) before reclassifications		830,925		(629,442)
Amounts reclassified from accumulated other comprehensive (loss)		161,223		129,615
Ending balance		$ (1,566,727)		$ (2,558,875)	[1]
[1]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.
[2]	*Year ended June 30, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Equity - Significant reclassifi

Equity - Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021		Jun. 30, 2020		Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other (income) expense, net							$ 17,003		$ 67,112	[1]	$ 61,247	[1]
Income before income taxes	$ 599,340	$ 577,892	$ 413,174	$ 461,213	$ 251,380	$ 431,905	2,246,957		1,506,854	[1]	1,949,475	[1]
Tax benefit	(126,101)	(129,350)	(93,063)	(88,501)	(49,331)	(93,811)	(500,096)		(304,522)	[1]	(424,392)	[1]
Net income	$ 473,239	$ 448,542	$ 320,111	$ 372,712	$ 202,049	$ 338,094	1,746,861	[2]	1,202,332	[2],[3]	$ 1,525,083	[2],[4]
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service cost and initial net obligation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other (income) expense, net							(5,270)		(5,531)
Reclassification out of Accumulated Other Comprehensive Income | Recognized actuarial loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other (income) expense, net							(207,896)		(165,550)
Reclassification out of Accumulated Other Comprehensive Income | Retirement benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes							(213,166)		(171,081)
Tax benefit							51,943		41,466
Net income							$ (161,223)		$ (129,615)
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*The balances at June 30, 2018 and the year ended June 30, 2020 and 2019 amounts have been revised to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the consolidated financial statements.
[3]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[4]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Equity - Share repurchases (Det

Equity - Share repurchases (Details) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Oct. 22, 2014
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)	331,259	818,581	4,755,273
Average price per share including commissions (in USD per share)	$ 301.88	$ 179.29	$ 168.23
Maximum
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized for repurchase				35,000,000

Stock Incentive Plans - Narrati

Stock Incentive Plans - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Oct. 23, 2019
Omnibus Stock Incentive Plan 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares authorized for issuance under stock incentive plan				23,800,000
Number of shares available for future issuance	11,300,000
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 35,212	$ 26,108	$ 26,568
Expense for nonvested awards not yet recognized	$ 13,089
Expense for nonvested awards not yet recognized, weighted-average period for recognition	16 months
Total fair value of shares vested	$ 24,857	27,209	25,365
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock-based compensation expense	$ 26,009	25,560	25,258
Expense for nonvested awards not yet recognized	$ 20,543
Expense for nonvested awards not yet recognized, weighted-average period for recognition	20 months
Total fair value of shares vested	$ 21,048	23,380	20,475
Tax benefit (cost)	$ 796	1,037	1,548
Long Term Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock-based compensation expense	$ 58,804	58,273	50,908
Tax benefit (cost)	$ 1,974	(1,251)	14,101
Minimum | Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Maximum | Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Expiration period	10 years
Director | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Stock-based compensation expense	$ 1,458	1,434	1,345
Expense for nonvested awards not yet recognized	$ 649
Expense for nonvested awards not yet recognized, weighted-average period for recognition	5 months
Tax benefit (cost)	$ 2,115	$ 86	$ (82)

Stock Incentive Plans - Weighte

Stock Incentive Plans - Weighted average assumptions used in fair value of each stock appreciation right award granted (Details) - Stock Appreciation Rights (SARs) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.40%	1.50%	2.80%
Expected life of award	5 years 4 months 24 days	5 years 1 month 6 days	5 years 1 month 6 days
Expected dividend yield of stock	2.00%	2.00%	1.90%
Expected volatility of stock	35.20%	25.90%	24.20%
Weighted-average fair value (in USD per share)	$ 53.92	$ 31.68	$ 35.09

Stock Incentive Plans - Stock a

Stock Incentive Plans - Stock appreciation rights activity (Details) - Stock Appreciation Rights (SARs) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
Number of Shares
Beginning balance, outstanding (in shares) | shares	5,183,970
Granted (in shares) | shares	741,852
Exercised (in shares) | shares	(1,741,352)
Canceled (in shares) | shares	(35,884)
Ending balance, outstanding (in shares) | shares	4,148,586
Exercisable (in shares) | shares	2,677,757
Weighted-Average Exercise Price
Beginning balance, outstanding (in USD per share) | $ / shares	$ 132.42
Granted (in USD per share) | $ / shares	209.56
Exercised (in USD per share) | $ / shares	116.51
Canceled (in USD per share) | $ / shares	185.29
Ending balance, outstanding (in USD per share) | $ / shares	152.44
Exercisable (in USD per share) | $ / shares	$ 134.55
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Outstanding, weighted average remaining contractual term	6 years 3 months 18 days
Exercisable, weighted average remaining contractual term	5 years 1 month 6 days
Outstanding, aggregate intrinsic value | $	$ 641.7
Exercisable, aggregate intrinsic value | $	$ 462.1

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) - Stock Appreciation Rights (SARs) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Number of Shares
Beginning balance, nonvested (in shares)	1,539,502
Granted (in shares)	741,852
Vested (in shares)	(774,721)
Canceled (in shares)	(35,804)
Ending balance, nonvested (in shares)	1,470,829	1,539,502
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share)	$ 32.41
Granted (in USD per share)	53.92	$ 31.68	$ 35.09
Vested (in USD per share)	32.09
Canceled (in USD per share)	42.50
Ending balance, nonvested (in USD per share)	$ 43.19	$ 32.41

Stock Incentive Plans - Informa

Stock Incentive Plans - Information related to stock appreciation rights awards exercised (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Net cash proceeds	$ 4,684	$ 2,623	[1]	$ 2,475	[1]
Stock Appreciation Rights (SARs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Net cash proceeds	4,684	2,623		2,475
Intrinsic value	225,025	133,641		95,502
Income tax benefit	$ 37,437	$ 21,132		$ 15,584
Number of shares surrendered	316,330	228,986		158,610
[1]	*Years ended June 30, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Stock Incentive Plans - Summa_2

Stock Incentive Plans - Summary of the status and shares subject to restricted stock units and average price per share (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Jun. 30, 2021$ / sharesshares
Number of Shares
Beginning balance, nonvested (in shares) | shares	350,573
Granted (in shares) | shares	137,488
Vested (in shares) | shares	(130,121)
Canceled (in shares) | shares	(8,354)
Ending balance, nonvested (in shares) | shares	349,586
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share) | $ / shares	$ 160.66
Granted (in USD per share) | $ / shares	218.17
Vested (in USD per share) | $ / shares	161.75
Canceled (in USD per share) | $ / shares	188.20
Ending balance, nonvested (in USD per share) | $ / shares	$ 182.22
Director
Number of Shares
Beginning balance, nonvested (in shares) | shares	8,262
Granted (in shares) | shares	8,122
Vested (in shares) | shares	(8,298)
Canceled (in shares) | shares	(610)
Ending balance, nonvested (in shares) | shares	7,476
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share) | $ / shares	$ 187.49
Granted (in USD per share) | $ / shares	214.46
Vested (in USD per share) | $ / shares	187.49
Canceled (in USD per share) | $ / shares	203.23
Ending balance, nonvested (in USD per share) | $ / shares	$ 215.51

Stock Incentive Plans - Long te

Stock Incentive Plans - Long term incentive plans (Details) - Long Term Incentive Plans - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued	210,864	279,469	293,136
Number of shares surrendered	105,402	132,449	134,169
Share value on date of issuance (in USD per share)	$ 317.60	$ 134.95	$ 183
Total value of shares issued	$ 66,970	$ 37,714	$ 53,644

Stock Incentive Plans - Status

Stock Incentive Plans - Status and changes of shares of long term incentive plans shares and the related average price per share (Details) - Long Term Incentive Plans	12 Months Ended
	Jun. 30, 2021$ / sharesshares
Number of Shares
Beginning balance, nonvested (in shares) | shares	539,059
Granted (in shares) | shares	141,122
Vested (in shares) | shares	(173,582)
Canceled (in shares) | shares	(11,548)
Ending balance, nonvested (in shares) | shares	495,051
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share) | $ / shares	$ 186.75
Granted (in USD per share) | $ / shares	242.80
Vested (in USD per share) | $ / shares	208.83
Canceled (in USD per share) | $ / shares	199.95
Ending balance, nonvested (in USD per share) | $ / shares	$ 194.68

Research and Development (Detai

Research and Development (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Research and Development [Abstract]
Research and development costs	$ 259,039	$ 293,837	$ 294,852
Costs incurred in connection with research and development contracts	$ 54,051	$ 56,964	$ 44,484

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, 2021	Jun. 30, 2020
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 6,646,029	$ 7,809,541
Estimated fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 7,527,268	$ 8,574,401

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) € in Millions, ¥ in Millions, $ in Millions	12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021EUR (€)	Jun. 30, 2021JPY (¥)	Jun. 30, 2020EUR (€)derivative	Jun. 30, 2020JPY (¥)derivative
Derivative [Line Items]
Net gains (losses) relating to forward exchange contracts | $	$ 16	$ (27)
Senior Notes | Senior Notes Due 2025
Derivative [Line Items]
Aggregate principal amount (in EUR)			€ 700
Cross-currency swap contracts
Derivative [Line Items]
Notional amount of derivative settled					€ 235
Proceeds of derivative settled | $		$ 44
Notional amount of derivative			359	¥ 2,149	€ 359	¥ 2,149
Number of derivative instruments held | derivative					2	2
Cross-currency swap contracts, due November 2034
Derivative [Line Items]
Notional amount of derivative			69	¥ 2,149
Cross-currency swap contracts, due May 2038
Derivative [Line Items]
Notional amount of derivative			€ 290

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, 2021	Jun. 30, 2020
Cross-currency swap contracts | Other liabilities
Net investment hedges
Cross-currency swap contracts	$ 71,798	$ 30,860
Forward exchange contracts | Non-trade and notes receivable
Cash flow hedges
Cash flow hedges	5,376	5,311
Forward exchange contracts | Other accrued liabilities
Cash flow hedges
Cash flow hedges	9,435	3,474
Costless collar contracts | Non-trade and notes receivable
Cash flow hedges
Cash flow hedges	110	2,250
Costless collar contracts | Other accrued liabilities
Cash flow hedges
Cash flow hedges	$ 901	$ 661

Financial Instruments - Gain (l

Financial Instruments - Gain (losses) on derivative and non-derivative financial instruments recorded in accumulated other comprehensive (loss) (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cross-currency swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative and non-derivative instruments gain (loss) recognized in accumulated other comprehensive income (loss)	$ (31,988)	$ (9,435)
Foreign denominated debt
Derivative Instruments, Gain (Loss) [Line Items]
Derivative and non-derivative instruments gain (loss) recognized in accumulated other comprehensive income (loss)	$ (32,882)	$ 7,205

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, 2021	Jun. 30, 2020
Assets:
Equity securities	$ 20,517	$ 7,901
Derivatives	5,486	7,561
Liabilities:
Derivatives	82,134	34,995
Quoted Prices In Active Markets (Level 1)
Assets:
Equity securities	20,517	7,901
Derivatives	0	0
Liabilities:
Derivatives	0	0
Significant Other Observable Inputs (Level 2)
Assets:
Equity securities	0	0
Derivatives	5,486	7,561
Liabilities:
Derivatives	82,134	34,995
Significant Unobservable Inputs (Level 3)
Assets:
Equity securities	0	0
Derivatives	0	0
Liabilities:
Derivatives	$ 0	$ 0

Contingencies (Details)

Contingencies (Details) $ in Thousands	Jun. 30, 2021USD ($)
Loss Contingencies [Line Items]
Reserve for environmental matters	$ 17,059
Environmental Issue
Loss Contingencies [Line Items]
Largest range for any one site	11,400
Environmental Issue | Minimum
Loss Contingencies [Line Items]
Estimated total liability for environmental sites	17,100
Environmental Issue | Maximum
Loss Contingencies [Line Items]
Estimated total liability for environmental sites	$ 73,500

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 11,644	$ 8,874	$ 9,672
Additions Charged to Costs and Expenses	4,673	4,860	2,034
Other (Deductions)	(4,239)	(2,090)	(2,832)
Balance at End of Period	12,078	11,644	8,874
Deferred tax asset valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	771,430	797,692	694,857
Additions Charged to Costs and Expenses	94,781	(42,217)	102,835
Other Additions	(447)	15,955	0
Balance at End of Period	$ 865,764	$ 771,430	$ 797,692