Parker-Hannifin (PH) 10-K 24 Aug 23 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Jun. 30, 2023	Jul. 31, 2023	Dec. 31, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2023
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			$ 37,131,474,472
Entity Common Stock, Shares Outstanding		128,431,401
Documents Incorporated by Reference	Portions of the Definitive Proxy Statement for the Company’s 2023 Annual Meeting of Shareholders, to be held on October 25, 2023, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0000076334
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Jun. 30, 2023
Audit Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Cleveland, Ohio
Auditor Firm ID	34

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	[1]	Jun. 30, 2021	[1]
Income Statement [Abstract]
Net Sales	$ 19,065,194	$ 15,861,608		$ 14,347,640
Cost of sales	12,635,892	10,550,309		9,604,522
Selling, general and administrative expenses	3,354,103	2,504,061		2,383,407
Interest expense	573,894	255,252		250,036
Other expense (income), net	184,167	944,881		(27,950)
Gain on disposal of assets	(362,526)	(7,121)		(109,332)
Income before income taxes	2,679,664	1,614,226		2,246,957
Income taxes	596,128	298,040		500,096
Net Income	2,083,536	1,316,186		1,746,861
Less: Noncontrolling interest in subsidiaries' earnings	600	581		761
Net Income Attributable to Common Shareholders	$ 2,082,936	$ 1,315,605		$ 1,746,100
Earnings per Share Attributable to Common Shareholders
Basic earnings per share (in USD per share)	$ 16.23	$ 10.24		$ 13.54
Diluted earnings per share (in USD per share)	$ 16.04	$ 10.09		$ 13.35
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 2,083,536	$ 1,316,186	[1]	$ 1,746,861	[1]
Less: Noncontrolling interest in subsidiaries' earnings	600	581	[1]	761	[1]
Net Income Attributable to Common Shareholders	2,082,936	1,315,605	[1]	1,746,100	[1]
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment and other (net of tax of $(38,322), $(3,236) and $(3,664) in 2023, 2022 and 2021, respectively)	186,721	(284,732)		328,792
Retirement benefits plan activity (net of tax of $(26,019), $(95,574) and $(205,845) in 2023, 2022 and 2021, respectively)	63,299	306,735		664,076
Other comprehensive income (loss)	250,020	22,003		992,868
Less: Other comprehensive (loss) income for noncontrolling interests	(306)	(1,526)		720
Other comprehensive income (loss) attributable to common shareholders	250,326	23,529		992,148
Total Comprehensive Income Attributable to Common Shareholders	$ 2,333,262	$ 1,339,134		$ 2,738,248
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Consolidated Statement of Com_2

Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation and other, tax (expense) benefit	$ (38,322)	$ (3,236)	$ (3,664)
Retirement benefits plan activity, tax (expense) benefit	$ (26,019)	$ (95,574)	$ (205,845)

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Current Assets
Cash and cash equivalents	$ 475,182	$ 535,799
Marketable securities and other investments	8,390	27,862
Trade accounts receivable, net	2,827,297	2,341,504
Non-trade and notes receivable	309,167	543,757
Inventories	2,907,879	2,214,553
Prepaid expenses and other	306,314	6,383,169
Total Current Assets	6,834,229	12,046,644
Property, plant and equipment	6,865,545	5,897,955
Less: Accumulated depreciation	4,000,515	3,775,197
Property, plant and equipment, net	2,865,030	2,122,758
Deferred income taxes	81,429	110,585
Investments and other assets	1,104,576	788,057
Intangible assets, net	8,450,614	3,135,817
Goodwill	10,628,594	7,740,082
Total Assets	29,964,472	25,943,943
Current Liabilities
Notes payable and long-term debt payable within one year	3,763,175	1,724,310
Accounts payable, trade	2,050,934	1,731,925
Accrued payrolls and other compensation	651,319	470,132
Accrued domestic and foreign taxes	374,571	250,292
Other accrued liabilities	895,371	1,682,659
Total Current Liabilities	7,735,370	5,859,318
Long-term debt	8,796,284	9,755,825
Pensions and other postretirement benefits	551,510	639,939
Deferred income taxes	1,649,674	307,044
Other liabilities	893,355	521,897
Total Liabilities	19,626,193	17,084,023
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 2023 and 2022	90,523	90,523
Additional capital	305,522	327,307
Retained earnings	17,041,502	15,661,808
Accumulated other comprehensive (loss)	(1,292,872)	(1,543,198)
Treasury shares at cost: 52,613,046 in 2023 and 52,594,956 in 2022	(5,817,787)	(5,688,429)
Total Shareholders' Equity	10,326,888	8,848,011
Noncontrolling interests	11,391	11,909
Total Equity	10,338,279	8,859,920
Total Liabilities and Equity	$ 29,964,472	$ 25,943,943

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Jun. 30, 2023	Jun. 30, 2022
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)	52,613,046	52,594,956

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021
Cash Flows From Operating Activities
Net Income	$ 2,083,536	$ 1,316,186	[1]	$ 1,746,861	[1]
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	317,416	257,314		269,943
Amortization	500,713	314,450		325,447
Stock incentive plan compensation	142,720	137,093		121,483
Deferred income taxes	91,865	(351,201)		(51,500)
Foreign currency transaction loss (gain)	45,647	(39,987)		(10,948)
Loss (gain) on disposal of property, plant and equipment	3,819	(5,727)		(109,332)
Gain on sale of businesses	(366,345)	(1,394)		0
Gain on investments	(4,690)	(3,972)		(12,616)
(Gain) loss on marketable securities	(1,486)	5,131		(11,570)
Other	25,524	70,443		14,424
Changes in assets and liabilities, net of effects from acquisitions and divestitures:
Accounts receivable, net	(16,675)	(179,126)		(298,511)
Inventories	53,124	(212,134)		(85,597)
Prepaid expenses and other	1,550	37,630		(25,508)
Other assets	(109,032)	(11,167)		(8,779)
Accounts payable, trade	91,551	131,384		526,781
Accrued payrolls and other compensation	87,375	(15,524)		72,412
Accrued domestic and foreign taxes	102,476	32,514		36,552
Other accrued liabilities	112,822	999,831		11,397
Pensions and other postretirement benefits	(109,481)	1,822		17,875
Other liabilities	(72,499)	(41,836)		46,187
Net cash provided by operating activities	2,979,930	2,441,730		2,575,001
Cash Flows From Investing Activities
Acquisitions (net of cash acquired of $89,704 in 2023)	(7,146,110)	0		0
Capital expenditures	(380,747)	(230,044)		(209,957)
Proceeds from sale of property, plant and equipment	13,244	39,353		140,590
Proceeds from sale of businesses	473,207	3,366		0
Purchase of marketable securities and other investments	(37,791)	(27,895)		(34,809)
Maturities and sales of marketable securities and other investments	56,786	31,809		79,419
Payments of deal-contingent forward contracts	(1,405,418)	0		0
Other	250,017	(235,426)		24,744
Net cash used in investing activities	(8,176,812)	(418,837)		(13)
Cash Flows From Financing Activities
Proceeds from exercise of stock options	3,476	2,831		4,684
Payments for common shares	(297,323)	(460,056)		(218,818)
Proceeds from (payments of) notes payable, net	357,636	1,422,026		(723,496)
Proceeds from long-term borrowings	2,023,400	3,598,056		1,213
Payments for long-term borrowings	(2,340,566)	(18,737)		(1,211,748)
Financing fees paid	(13,605)	(58,629)		0
Dividends paid	(704,054)	(569,855)		(475,174)
Net cash (used in) provided by financing activities	(971,036)	3,915,636		(2,623,339)
Effect of exchange rate changes on cash	(4,776)	(23,770)		95,954
Net (decrease) increase in cash and cash equivalents and restricted cash	(6,172,694)	5,914,759		47,603
Cash, cash equivalents and restricted cash at beginning of year	6,647,876	733,117		685,514
Cash, cash equivalents and restricted cash at end of year	475,182	6,647,876		733,117
Cash paid during the year for:
Interest	464,701	240,313		236,979
Income taxes	$ 411,440	$ 549,223		$ 485,885
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Consolidated Statement of Cas_2

Consolidated Statement of Cash Flows (Parenthetical) $ in Thousands	12 Months Ended
	Jun. 30, 2023 USD ($)
Statement of Cash Flows [Abstract]
Acquisitions, cash acquired	$ 89,704

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Thousands	Total		Common Stock	Additional Capital	Retained Earnings	Accumulated Other Comprehensive (Loss)	Treasury Shares	Noncontrolling Interests
Beginning balance at Jun. 30, 2020	$ 6,241,770		$ 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]			1,746,100			761
Other comprehensive income (loss)	992,868					992,148		720
Dividends paid	(475,174)				(474,510)			(664)
Stock incentive plan activity	7,345			(86,966)			94,311
Shares purchased at cost	(100,000)						(100,000)
Ending balance at Jun. 30, 2021	8,413,670		90,523	329,619	14,915,497	(1,566,727)	(5,370,605)	15,363
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,316,186	[1]			1,315,605			581
Other comprehensive income (loss)	22,003					23,529		(1,526)
Dividends paid	(569,855)				(569,294)			(561)
Stock incentive plan activity	60,198			(2,312)			62,510
Liquidation activity	(1,948)							(1,948)
Shares purchased at cost	(380,334)						(380,334)
Ending balance at Jun. 30, 2022	8,859,920		90,523	327,307	15,661,808	(1,543,198)	(5,688,429)	11,909
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,083,536				2,082,936			600
Other comprehensive income (loss)	250,020					250,326		(306)
Dividends paid	(704,054)				(703,242)			(812)
Stock incentive plan activity	48,856			(21,785)			70,641
Shares purchased at cost	(199,999)						(199,999)
Ending balance at Jun. 30, 2023	$ 10,338,279		$ 90,523	$ 305,522	$ 17,041,502	$ (1,292,872)	$ (5,817,787)	$ 11,391
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Consolidated Statement of Equ_2

Consolidated Statement of Equity (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends paid (in USD per share)	$ 5.47	$ 4.42	$ 3.67

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Jun. 30, 2023
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. There are no individual customers to whom sales are more than four 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. Reclassification - Certain prior-year amounts in the Consolidated Statement of Income have been reclassified to conform to the current-year presentation. Effective July 1, 2022, we began classifying certain expenses, previously classified as cost of sales, as selling, general and administrative expenses ("SG&A") or within other expense (income), net. During the integration of recently acquired businesses, the Company has seen diversity in practice of the classification of certain expenses, and the reclassification was made to better align the presentation of expenses on the Consolidated Statement of Income with management’s internal reporting. The expenses reclassified from cost of sales to SG&A relate to certain administrative activities conducted in production facilities and research and development. Foreign currency transaction expense was also reclassified from cost of sales to other expense (income), net on the Consolidated Statement of Income. These reclassifications had no impact on net income, earnings per share, cash flows, segment reporting or the financial position of the Company. For the year ended June 30, 2022, the reclassification resulted in a decrease of $837 million to cost of sales, an increase of $877 million to SG&A, and a decrease of $40 million to other expense (income), net. For the year ended June 30, 2021 the reclassification resulted in a decrease of $845 million to cost of sales, an increase of $856 million to SG&A, and a decrease of $11 million to other expense (income), net. 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, inter-segment and inter-area 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 assess 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 $32 million and $10 million at June 30, 2023 and 2022, respectively. The increase in the allowance for credit losses from the June 30, 2022 amount is primarily due to the Acquisition. 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, 2023 2022 Notes receivable $ 102,288 $ 103,558 Cash collateral receivable (a) — 250,000 Accounts receivable, other 206,879 190,199 Total $ 309,167 $ 543,757 (a) The cash collateral receivable relates to the deal-contingent forward contracts. Refer to Note 16 for further discussion. Property, Plant and Equipment and Depreciation - Property, 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 property, plant and equipment caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2023 2022 Land and land improvements $ 385,376 $ 322,024 Buildings and building equipment 2,051,546 1,783,805 Machinery and equipment 4,086,334 3,588,106 Construction in progress 342,289 204,020 Total $ 6,865,545 $ 5,897,955 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 $297 million and $314 million at June 30, 2023 and 2022, 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 $124 million, $76 million and $41 million in 2023, 2022 and 2021, respectively. Intangible Assets - Intangible assets primarily include patents and technology, trade names and customer relationships 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. Trade names are amortized over the estimated time period over which an economic benefit is expected to be received. Customer relationships are amortized over a period based on anticipated customer attrition rates or contractual lives. 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. Taxes related to Global Intangible Low-Taxed Income ("GILTI") are treated as a current period expense when incurred. 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 other expense (income), net caption in the Consolidated Statement of Income and were $46 million, $(40) million and $(11) million, in 2023, 2022 and 2021, respectively. Business Combinations - From time to time, we may enter into business combinations. Business acquisitions are accounted for using the acquisition method of accounting, which allocates the fair value of the purchase consideration to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. The acquisition method of accounting also requires us to refine these estimates over a measurement period not to exceed one year to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. Transaction costs associated with these acquisitions are expensed as incurred. 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, 2023. No subsequent events occurred that required adjustment to or disclosure in these financial statements. Recent Accounting Pronouncements - In November 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-10, "Government Assistance (Topic 832), Disclosures by Business Entities about Government Assistance", which requires entities to provide disclosures on material government assistance transactions for annual reporting periods. The disclosures include information around the nature of the assistance, the related accounting policies used to account for government assistance, the effect of government assistance on the entity’s financial statements, and any significant terms and conditions of the agreements, including commitments and contingencies. The new guidance is effective for all entities for annual reporting periods beginning after December 15, 2021; however, early adoption is permitted. The guidance may be applied either prospectively to all in-scope transactions that are reflected in the financial statements at the date of initial application and to new transactions that are entered into after the date of initial application, or retrospectively. The Company prospectively adopted this standard during the fourth quarter of fiscal 2023 with no material impact on its consolidated financial statements and related disclosures. In September 2022, the FASB issued ASU 2022-04, "Liabilities—Supplier Finance Programs (Topic 405-50), Disclosure of Supplier Finance Program Obligations" ("ASU 2022-04"). ASU 2022-04 requires quantitative and qualitative disclosures about the key terms of supplier finance programs, an annual rollforward of obligations to finance providers, and interim disclosure of obligations as of each reporting period presented. ASU 2022-04 is effective for all entities for fiscal years beginning after December 15, 2022, on a retrospective basis, including interim periods within those fiscal years, except for the requirement to disclose rollforward information, which is effective prospectively for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements and does not expect it to be material.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Jun. 30, 2023
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: 2023 2022 2021 Motion Systems $ 3,830,062 $ 3,489,431 $ 3,081,366 Flow and Process Control 4,939,356 4,616,270 4,108,080 Filtration and Engineered Materials 5,936,275 5,236,345 4,770,713 Total $ 14,705,693 $ 13,342,046 $ 11,960,159 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. 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: 2023 2022 2021 Commercial original equipment manufacturer ("OEM") $ 1,461,279 $ 889,649 $ 761,679 Commercial aftermarket 1,363,965 514,727 379,438 Military OEM 905,328 705,988 791,245 Military aftermarket 628,929 409,198 455,119 Total $ 4,359,501 $ 2,519,562 $ 2,387,481 Upon completing the Acquisition, we reviewed the disaggregation of revenue disclosure for the Aerospace Systems Segment and believe that disaggregation by primary market provides more meaningful information than disaggregation by product platform. Total revenues by geographic region based on the Company's selling operation's location: 2023 2022 2021 North America $ 12,689,719 $ 10,216,292 $ 9,046,162 Europe 3,777,507 3,156,024 2,919,025 Asia Pacific 2,379,791 2,290,557 2,215,686 Latin America 218,177 198,735 166,767 Total $ 19,065,194 $ 15,861,608 $ 14,347,640 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: 2023 2022 Contract assets, current (included within Prepaid expenses and other) $ 123,705 $ 28,546 Contract assets, noncurrent (included within Investments and other assets) 23,708 794 Total contract assets 147,413 29,340 Contract liabilities, current (included within Other accrued liabilities) (244,799) (60,472) Contract liabilities, noncurrent (included within Other liabilities) (78,239) (2,225) Total contract liabilities (323,038) (62,697) Net contract liabilities $ (175,625) $ (33,357) Net contract liabilities at June 30, 2023 increased from the prior year amount due to timing differences between when revenue was recognized and the receipt of advance payments as well as acquiring Meggitt's contract liabilities in excess of Meggitt's contract assets. During 2023, approximately $47 million of revenue was recognized that was included in the contract liabilities at June 30, 2022. Remaining performance obligation s 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, 2023 was $11.0 billion, of which approximately 79 percent is expected to be recognized as revenue within the next 12 months and the balance thereafter.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions On September 12, 2022, we completed the Acquisition of all the outstanding ordinary shares of Meggitt for 800 pence per share, resulting in an aggregate cash purchase price of $7.2 billion, including the assumption of debt. Meggitt is a leader in design, manufacturing and aftermarket support of technologically differentiated systems and equipment in aerospace, defense and selected energy markets with annual sales of approximately $2.1 billion for the year ended December 31, 2021. For segment reporting purposes, approximately 82 percent of Meggitt's sales are included in the Aerospace Systems Segment, while the remaining 18 percent are included in the Diversified Industrial Segment. Assets acquired and liabilities assumed are recognized at their respective fair values as of the date of the Acquisition. 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 table presents the preliminary estimated fair values of Meggitt's assets acquired and liabilities assumed on the date of the Acquisition. These preliminary estimates are based on available information and may be revised during the measurement period, not to exceed 12 months from the date of the Acquisition, as third-party valuations are finalized, additional information becomes available or as additional analysis is performed. Such revisions may have a material impact on our results of operations and financial position within the measurement period. September 12, 2022 (previously reported) Measurement Period Adjustments September 12, 2022 Assets: Cash and cash equivalents $ 89,704 $ — $ 89,704 Accounts receivable 427,255 (17,613) 409,642 Inventories 833,602 (94,298) 739,304 Prepaid expenses and other 125,763 (23,731) 102,032 Property, plant and equipment, net 675,232 (16,235) 658,997 Deferred income taxes 5,720 28,478 34,198 Other assets 219,472 (38,481) 180,991 Intangible assets 5,418,795 260,405 5,679,200 Goodwill 2,830,845 (41,765) 2,789,080 Total assets acquired $ 10,626,388 $ 56,760 $ 10,683,148 Liabilities: Notes payable and long-term debt payable within one year $ 306,266 $ 1,910 $ 308,176 Accounts payable, trade 219,780 62 219,842 Accrued payrolls and other compensation 89,226 (2,152) 87,074 Accrued domestic and foreign taxes — 21,068 21,068 Other accrued liabilities 367,605 (45,565) 322,040 Long-term debt 669,321 42,382 711,703 Pensions and other postretirement benefits 85,899 13,654 99,553 Deferred income taxes 1,274,726 (15,309) 1,259,417 Other liabilities 377,751 40,710 418,461 Total liabilities assumed 3,390,574 56,760 3,447,334 Net assets acquired $ 7,235,814 $ — $ 7,235,814 Goodwill is calculated as the excess of the purchase price over the net assets acquired and represents cost synergies and enhancements to our existing technologies. For tax purposes, Meggitt's goodwill is not deductible. Based upon a preliminary acquisition valuation, we acquired $4.3 billion of customer-related intangible assets, $1.1 billion of technology and $304 million of trade names, each with weighted average estimated useful lives of 22, 21 and 18 years, respectively. These intangible assets were valued using the income approach, which includes significant assumptions around future revenue growth, earnings before interest, taxes, depreciation and amortization, royalty rates and discount rates. Such assumptions are classified as level 3 inputs within the fair value hierarchy. The fair value of the assets acquired includes $116 million and $91 million of operating and finance lease right-of-use assets, respectively. The fair value of liabilities assumed includes $118 million and $90 million of operating and finance lease liabilities, respectively, of which, $19 million and $1 million of operating and finance lease liabilities, respectively, are current liabilities. Debt assumed includes $900 million aggregate principal amount of private placement notes with fixed interest rates ranging from 2.78 percent to 3.60 percent, and maturity dates ranging from July 2023 to July 2026. The private placement notes were recorded at fair value at acquisition. In October 2022, we paid off $300 million aggregate principal amount of private placement notes in two tranches pursuant to an offer to noteholders according to change in control provisions. In June 2023, the Company paid the remaining $600 million aggregate principal amount of private placement notes assumed in the Acquisition, which resulted in a $10 million charge recorded in interest expense in the Consolidated Statement of Income associated with the fair value discount. Upon acquiring Meggitt, we also assumed $134 million of liabilities associated with environmental matters, the liabilities are included within other liabilities. The environmental matters primarily relate to known exposures arising from environmental litigation, investigations and remediation of certain sites for which Meggitt has been identified as a potentially responsible party. The liabilities are based on outcomes of litigation and estimates of the level and timing of remediation costs, including the period of operating and monitoring activities required. Our consolidated financial statements include the results of operations of Meggitt from the date of acquisition through June 30, 2023. Net sales and segment operating income attributable to Meggitt during 2023 was $2.1 billion and $23 million, respectively. Segment operating income attributable to Meggitt includes estimated amortization and depreciation expense associated with the preliminary fair value estimates of intangible assets, plant and equipment, inventory, as well as acquisition integration charges. Refer to Note 4 for further discussion of acquisition integration charges. Acquisition-related transaction costs totaled $115 million in 2023. These costs are included in SG&A in the Consolidated Statement of Income. The following table presents unaudited pro forma information for 2023 and 2022 as if the Acquisition had occurred on July 1, 2021. (Unaudited) 2023 2022 Net sales $ 19,446,524 $ 17,911,409 Net income attributable to common shareholders 1,956,813 1,529,970 The historical consolidated financial information of Parker and Meggitt has been adjusted in the pro forma information in the table above to give effect to events that are directly attributable to the Acquisition and factually supportable. To reflect the occurrence of the Acquisition on July 1, 2021, the unaudited pro forma information includes adjustments for the amortization of the step-up inventory to fair value and incremental depreciation and amortization expense resulting from the fair value adjustments to property, plant and equipment and intangible assets. These adjustments were based upon a preliminary purchase price allocation. Additionally, adjustments to financing costs and income tax expense were also made to reflect the capital structure and anticipated effective tax rate of the combined entity. Additionally, the pro forma information includes adjustments for non-recurring transactions directly related to the Acquisition, including the gain on the divestiture of the aircraft wheel and brake business, loss on deal-contingent forward contracts, and transaction costs. These non-recurring adjustments totaled $199 million and $654 million in 2023 and 2022, respectively. The resulting pro forma amounts are not necessarily indicative of the results that would have been obtained if the Acquisition had occurred as of the beginning of the period presented or that may occur in the future, and do not reflect future synergies, integration costs or other such costs or savings. Divestitures During September 2022, we divested our aircraft wheel and brake business, which was part of the Aerospace Systems Segment, for proceeds of $443 million. The resulting pre-tax gain of $374 million is included in other expense (income) During March 2023, we divested a French aerospace business, which was part of the Aerospace Systems Segment, for proceeds of $27 million. The resulting pre-tax loss of $12 million is included in other expense (income), net in the Consolidated Statement of Income. The operating results and net assets of the French aerospace business were immaterial to the Company's consolidated results of operations and financial position. Restricted Cash At June 30, 2022, prepaid expenses and other in the Consolidated Balance Sheet included a $6.1 billion balance in an escrow account restricted to payments for the Acquisition. These funds were used to finance a portion of the Acquisition, and there was no restricted cash at June 30, 2023.

Business Realignment and Acquis

Business Realignment and Acquisition Integration Charges	12 Months Ended
	Jun. 30, 2023
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 2023, 2022 and 2021. Business realignment charges in 2023, 2022, and 2021 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. During 2021, business realignment charges primarily consisted of actions taken to address the impact of COVID-19 on our business. A majority of the business realignment charges were incurred in 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 charges by business segment are as follows: 2023 2022 2021 Diversified Industrial $ 23,641 $ 13,787 $ 38,557 Aerospace Systems 3,065 967 6,680 Corporate administration — — 1,399 Other expense — 3 1,226 Workforce reductions in connection with such business realignment charges by business segment are as follows: 2023 2022 2021 Diversified Industrial 728 300 820 Aerospace Systems 30 10 327 Corporate administration — — 20 The business realignment charges are presented in the Consolidated Statement of Income as follows: 2023 2022* 2021* Cost of sales $ 15,993 $ 5,007 $ 27,276 Selling, general and administrative expenses 10,713 9,747 19,360 Loss on disposal of assets — 3 1,226 *Years ended June 30, 2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements. During 2023, approximately $22 million in payments were made relating to business realignment charges. Remaining payments related to current-year and prior-year business realignment actions of approximately $14 million, a majority of which are expected to be paid by December 31, 2023, 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. In addition to the business realignment charges discussed above, in 2022, we also incurred $20 million of expense as a result of our exit of business operations in Russia. These charges primarily consist of write-downs of inventory and other working capital items and $8 million of foreign currency translation expense reclassified from accumulated other comprehensive income. Within the business segment information in Note 18, $7 million of expense was recorded in the other expense (income), net, while the remainder of the charge was split evenly between the Aerospace Systems Segment and the Diversified Industrial International businesses. We also incurred the following acquisition integration charges related to the Meggitt, Lord and Exotic Metals Forming Company LLC ("Exotic") acquisitions: 2023 2022 2021 Diversified Industrial $ 8,511 $ 3,589 $ 11,222 Aerospace Systems 86,928 1,177 719 In 2023, acquisition integration charges relate to the acquisition of Meggitt. In 2022, charges within the Diversified Industrial and Aerospace Systems Segment relate to the acquisitions of Lord and Meggitt, respectively. Acquisition integration charges in 2021 within the Diversified Industrial and Aerospace Systems Segment relate to the acquisitions of Lord and Exotic, respectively. These charges were primarily included in selling, general and administrative expenses within the Consolidated Statement of Income.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income before income taxes was derived from the following sources: 2023 2022 2021 United States $ 1,408,206 $ 646,364 $ 1,273,037 Foreign 1,271,458 967,862 973,920 $ 2,679,664 $ 1,614,226 $ 2,246,957 Income taxes include the following: 2023 2022 2021 Federal Current $ 161,465 $ 297,672 $ 247,094 Deferred 81,426 (253,123) (52,960) Foreign Current 297,199 303,089 269,607 Deferred (13,509) (45,977) 8,851 State and local Current 45,599 48,479 34,895 Deferred 23,948 (52,100) (7,391) $ 596,128 $ 298,040 $ 500,096 A reconciliation of the effective income tax rate to the statutory federal rate follows: 2023 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes 2.1 (0.2) 1.0 Tax related to international activities 1.2 2.7 3.6 Cash surrender value of life insurance (0.1) 0.5 (0.6) Foreign derived intangible income deduction (1.1) (3.7) (1.0) Research tax credit (0.7) (0.8) (0.4) Share-based compensation (1.0) (1.3) (1.6) Other 0.8 0.3 0.3 Effective income tax rate 22.2 % 18.5 % 22.3 % 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: 2023 2022 Retirement benefits $ 158,560 $ 207,147 Other liabilities and reserves 333,012 180,624 Long-term contracts 37,747 8,739 Stock-based compensation 33,374 31,490 Loss carryforwards 1,083,732 888,552 Unrealized currency exchange gains and losses (1,680) 254,334 Inventory 96,501 14,649 Tax credit carryforwards 18,773 17,326 Undistributed foreign earnings (21,304) (21,822) Depreciation and amortization (2,228,606) (875,623) Valuation allowance (1,078,354) (901,875) Net deferred tax (liability) $ (1,568,245) $ (196,459) Change in net deferred tax (liability): Provision for deferred tax $ (91,865) $ 351,201 Items of other comprehensive (loss) income (64,342) (98,810) Acquisitions and other (1,215,579) 880 Total change in net deferred tax $ (1,371,786) $ 253,271 As of June 30, 2023, we recorded deferred tax assets of $1,084 million resulting from $4,350 million in loss carryforwards. A valuation allowance of $1,059 million related to the loss carryforwards has been established due to the uncertainty of their realization. Of this valuation allowance, $1,030 million 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 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 $754 million that are no longer permanently reinvested outside of the United States, we have recorded a deferred tax liability of $13 million. The remaining undistributed foreign earnings of approximately $1,130 million remain permanently reinvested outside the United States at June 30, 2023. Of these undistributed earnings, we have recorded a deferred tax liability of $8 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: 2023 2022 2021 Balance July 1 $ 90,669 $ 100,759 $ 86,277 Additions for tax positions related to current year 9,389 7,039 10,145 Additions for tax positions of prior years 6,171 1,415 10,320 Additions for acquisitions 25,957 — 2,376 Reductions for tax positions of prior years (3,063) (140) (1,996) Reductions for settlements (6,923) (3,127) (7,165) Reductions for expiration of statute of limitations (11,199) (6,647) (2,252) Effect of foreign currency translation 2,502 (8,630) 3,054 Balance June 30 $ 113,503 $ 90,669 $ 100,759 The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $114 million, $91 million and $101 million as of June 30, 2023, 2022 and 2021, respectively. The accrued interest related to the gross unrecognized tax benefits, excluded from the amounts above, was $21 million, $18 million, and $18 million as of June 30, 2023, 2022 and 2021, respectively. The accrued penalties related to the gross unrecognized tax benefits, excluded from the amounts above, was $2 million as of June 30, 2023. There were no accrued penalties related to the gross unrecognized tax benefits as of June 30, 2022 and 2021. 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 million 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, 2023
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: 2023 2022 2021 Numerator: Net income attributable to common shareholders $ 2,082,936 $ 1,315,605 $ 1,746,100 Denominator: Basic - weighted-average common shares 128,367,842 128,539,387 128,999,879 Increase in weighted-average common shares from dilutive effect of equity-based awards 1,454,243 1,816,556 1,834,599 Diluted - weighted-average common shares, assuming exercise of equity-based awards 129,822,085 130,355,943 130,834,478 Basic earnings per share $ 16.23 $ 10.24 $ 13.54 Diluted earnings per share $ 16.04 $ 10.09 $ 13.35 For 2023, 2022 and 2021, 1.0 million, 0.4 million and 0.4 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, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value using the first-in, first-out ("FIFO") method. The inventories caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2023 2022 Finished products $ 794,128 $ 811,702 Work in process 1,488,665 1,128,501 Raw materials 625,086 274,350 Total $ 2,907,879 $ 2,214,553

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Jun. 30, 2023
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, 2021 $ 7,457,309 $ 602,378 $ 8,059,687 Divestitures (164) — (164) Goodwill reclassified to held for sale — (48,242) (48,242) Foreign currency translation (271,164) (35) (271,199) Balance June 30, 2022 $ 7,185,981 $ 554,101 $ 7,740,082 Acquisitions 452,008 2,337,072 2,789,080 Divestitures (1,064) (2,232) (3,296) Foreign currency translation 45,830 56,898 102,728 Balance June 30, 2023 $ 7,682,755 $ 2,945,839 $ 10,628,594 Acquisitions represent goodwill resulting from the preliminary purchase price allocation for the Acquisition during the measurement period. Refer to Note 3 for further discussion. Divestitures represent goodwill associated with the sale of businesses during 2023 and 2022. Goodwill reclassified to held for sale, which was allocated using the relative fair value method, relates to the aircraft wheel and brake business. Refer to Note 3 for further discussion. Goodwill is tested for impairment at the reporting unit level annually 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 2023, 2022 and 2021 resulted in no impairment loss being recognized. Intangible assets are amortized on a straight-line method over their legal or estimated useful lives. The gross carrying value and accumulated amortization for each major category of intangible asset at June 30 are as follows: 2023 2022 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Patents and technology $ 2,128,847 $ 352,040 $ 990,775 $ 259,587 Trade names 1,047,678 390,737 727,820 339,244 Customer relationships and other 8,109,063 2,092,197 3,735,042 1,718,989 Total $ 11,285,588 $ 2,834,974 $ 5,453,637 $ 2,317,820 Total intangible asset amortization expense in 2023, 2022 and 2021 was $501 million, $314 million and $325 million, respectively. The estimated intangible asset amortization expense for the five years ending June 30, 2024 through 2028 is $550 million, $528 million, $523 million, $518 million and $508 million, respectively.

Financing Arrangements

Financing Arrangements	12 Months Ended
	Jun. 30, 2023
Financing Arrangements [Abstract]
Financing Arrangements	Financing Arrangements The Company has a line of credit totaling $3.0 billion through a multi-currency revolving credit agreement with a group of banks, of which $1.2 billion was available for borrowing as of June 30, 2023. During 2023, the Company amended its credit agreement by extending the expiration to June 2028. 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 supports our commercial paper program, and issuances of commercial paper reduce the amount of credit available under the agreement. 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 $3.0 billion of short-term commercial paper notes. There were $1.8 billion commercial paper notes outstanding at June 30, 2023 and $1.4 billion were outstanding at June 30, 2022. The Company had no outstanding borrowings from foreign banks at June 30, 2023 and 2022. The weighted-average interest rate on notes payable outstanding at June 30, 2023 and 2022 was 5.6 percent and 0.7 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, 2023
Debt Disclosure [Abstract]
Debt	Debt June 30, 2023 2022 Domestic: Fixed rate medium-term notes, 3.30% to 6.25%, due 2025 - 2045 $ 1,825,000 $ 2,125,000 Senior Notes, 2.70% to 4.50%, due 2024 - 2049 7,275,000 7,275,000 Term Loan Facility, due 2026 875,000 — Foreign: Euro Senior Notes, 1.125%, due 2025 763,770 733,950 Other long-term debt 106,598 11,127 Deferred debt issuance costs (74,713) (86,972) Total long-term debt 10,770,655 10,058,105 Less: Long-term debt payable within one year 1,974,371 302,280 Long-term debt, net $ 8,796,284 $ 9,755,825 In connection with the Acquisition, the Company entered into a Bridge Credit Agreement on August 2, 2021 (the "Bridge Credit Agreement"). Under the Bridge Credit Agreement, lenders committed to provide senior, unsecured financing in the aggregate principal amount of £6.5 billion at August 2, 2021. In July 2022, after consideration of the escrow balance and funds available under the delayed-draw term loan facility (the “Term Loan Facility”), we reduced the aggregate committed principal amount of the Bridge Credit Agreement to zero, and the Bridge Credit Agreement was terminated. In September 2022, the Company fully drew against the $2.0 billion delayed-draw Term Loan Facility, which will mature in its entirety in September 2025. We used the proceeds of the Term Loan Facility to finance a portion of the Acquisition. At June 30, 2023, the Term Loan Facility had an interest rate of Secured Overnight Financing Rate plus 122.5 bps. Interest payments are made at the interest reset dates, which are either one three Additionally, the provisions of the Term Loan Facility allow for prepayments at the Company's discretion. During 2023, we made principal payments totaling $1.1 billion related to the Term Loan Facility. Principal amounts of long-term debt payable in the five years ending June 30, 2024 through 2028 are $1,980 million, $1,268 million, $879 million, $704 million and $1,204 million, respectively. The principal amounts of long-term debt payable exclude the amortization of debt issuance costs.

Leases

Leases	12 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Leases We primarily enter into lease agreements for office space, distribution centers, certain manufacturing facilities and equipment. 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. In addition, leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheet. 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: 2023 2022 2021 Operating lease expense $ 60,411 $ 46,026 $ 48,171 Finance lease cost: Amortization of lease assets 5,604 1,861 1,576 Interest on lease liabilities 4,383 390 455 Short-term lease cost 7,577 7,041 7,674 Variable lease cost 5,747 5,849 5,835 Total lease cost $ 83,722 $ 61,167 $ 63,711 Supplemental cash flow information related to leases is as follows: 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - payments on operating leases $ 57,717 $ 45,371 $ 47,080 Operating cash outflows - interest payments on finance leases 4,383 390 455 Financing cash outflows - payments on finance lease obligations 5,141 1,992 1,713 Right-of-use assets obtained in exchange for operating lease obligations 45,365 50,925 41,637 Right-of-use assets obtained in exchange for finance lease obligations 1,340 — 3,834 Supplemental balance sheet information related to operating leases is as follows: 2023 2022 Operating Leases Operating lease right-of-use assets (included within Investments and other assets) $ 232,733 $ 133,412 Current operating lease liabilities (included within Other accrued liabilities) $ 50,523 $ 36,023 Long-term operating lease liabilities (included within Other liabilities) 187,445 100,337 Total operating lease liabilities $ 237,968 $ 136,360 Finance Leases Land and buildings $ 107,910 $ 9,223 Machinery and equipment 5,113 5,066 Accumulated depreciation (8,196) (3,836) Net property, plant and equipment $ 104,827 $ 10,453 Current portion of long-term debt (included within Other accrued liabilities) $ 4,198 $ 1,691 Long-term debt (included within Other liabilities) 100,889 8,575 Total finance lease liabilities $ 105,087 $ 10,266 Weighted-average remaining lease term Operating leases 6.9 years 5.6 years Finance leases 20.8 years 15.7 years Weighted-average discount rate Operating leases 3.9 % 1.6 % Finance leases 5.2 % 3.3 % Maturities of lease liabilities at June 30, 2023 are as follows: Operating Leases Finance Leases 2024 $ 58,351 $ 9,483 2025 49,196 8,871 2026 38,352 8,792 2027 28,590 8,896 2028 21,481 8,936 Thereafter 82,407 128,519 Total lease payments $ 278,377 $ 173,497 Less imputed interest 40,409 68,410 Total lease liabilities $ 237,968 $ 105,087
Leases	Leases We primarily enter into lease agreements for office space, distribution centers, certain manufacturing facilities and equipment. 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. In addition, leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheet. 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: 2023 2022 2021 Operating lease expense $ 60,411 $ 46,026 $ 48,171 Finance lease cost: Amortization of lease assets 5,604 1,861 1,576 Interest on lease liabilities 4,383 390 455 Short-term lease cost 7,577 7,041 7,674 Variable lease cost 5,747 5,849 5,835 Total lease cost $ 83,722 $ 61,167 $ 63,711 Supplemental cash flow information related to leases is as follows: 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - payments on operating leases $ 57,717 $ 45,371 $ 47,080 Operating cash outflows - interest payments on finance leases 4,383 390 455 Financing cash outflows - payments on finance lease obligations 5,141 1,992 1,713 Right-of-use assets obtained in exchange for operating lease obligations 45,365 50,925 41,637 Right-of-use assets obtained in exchange for finance lease obligations 1,340 — 3,834 Supplemental balance sheet information related to operating leases is as follows: 2023 2022 Operating Leases Operating lease right-of-use assets (included within Investments and other assets) $ 232,733 $ 133,412 Current operating lease liabilities (included within Other accrued liabilities) $ 50,523 $ 36,023 Long-term operating lease liabilities (included within Other liabilities) 187,445 100,337 Total operating lease liabilities $ 237,968 $ 136,360 Finance Leases Land and buildings $ 107,910 $ 9,223 Machinery and equipment 5,113 5,066 Accumulated depreciation (8,196) (3,836) Net property, plant and equipment $ 104,827 $ 10,453 Current portion of long-term debt (included within Other accrued liabilities) $ 4,198 $ 1,691 Long-term debt (included within Other liabilities) 100,889 8,575 Total finance lease liabilities $ 105,087 $ 10,266 Weighted-average remaining lease term Operating leases 6.9 years 5.6 years Finance leases 20.8 years 15.7 years Weighted-average discount rate Operating leases 3.9 % 1.6 % Finance leases 5.2 % 3.3 % Maturities of lease liabilities at June 30, 2023 are as follows: Operating Leases Finance Leases 2024 $ 58,351 $ 9,483 2025 49,196 8,871 2026 38,352 8,792 2027 28,590 8,896 2028 21,481 8,936 Thereafter 82,407 128,519 Total lease payments $ 278,377 $ 173,497 Less imputed interest 40,409 68,410 Total lease liabilities $ 237,968 $ 105,087

Retirement Benefits

Retirement Benefits	12 Months Ended
	Jun. 30, 2023
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. Our largest plans are generally closed to new participants. 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: 2023 2022 2021 Benefit cost Service cost $ 57,418 $ 76,638 $ 84,188 Interest cost 225,468 110,250 102,475 Expected return on plan assets (311,145) (267,888) (267,579) Amortization of prior service cost 931 4,103 5,325 Amortization of unrecognized actuarial loss 17,178 157,288 207,897 Amortization of transition obligation — 8 18 One-time charges related to divestitures (2,480) — — Net periodic benefit cost $ (12,630) $ 80,399 $ 132,324 Components of net pension benefit cost, other than service cost, are included in other expense (income), net in the Consolidated Statement of Income. 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 4,959,319 $ 6,323,003 Service cost 57,418 76,638 Interest cost 225,468 110,250 Acquisition 1,181,139 — Plan amendments 2,521 (5,691) Divestiture (1,779) — Actuarial gain (349,476) (1,097,053) Benefits paid (312,758) (256,868) Foreign currency translation and other 73,839 (190,960) Benefit obligation at end of year $ 5,835,691 $ 4,959,319 Change in plan assets Fair value of plan assets at beginning of year $ 4,362,153 $ 5,305,577 Actual gain (loss) on plan assets 31,399 (605,642) Acquisition 1,140,707 — Employer contributions 153,038 96,717 Benefits paid (312,758) (256,868) Foreign currency translation and other 80,756 (177,631) Fair value of plan assets at end of year $ 5,455,295 $ 4,362,153 Funded status $ (380,396) $ (597,166) Amounts recognized on the Consolidated Balance Sheet Investments and other assets $ 145,809 $ 103,632 Other accrued liabilities (57,783) (19,307) Pensions and other postretirement benefits (468,422) (681,491) Net amount recognized $ (380,396) $ (597,166) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial loss $ 593,937 $ 672,775 Prior service cost 6,489 4,901 Net amount recognized $ 600,426 $ 677,676 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. As of the date of the Acquisition, the Meggitt plans were remeasured at fair value using accounting policies consistent with Parker plans. At June 30, 2023, the benefit obligation increased primarily due to plans acquired with the Acquisition partially offset by increased discount rates. At June 30, 2022, the benefit obligation decreased primarily due to significantly higher discount rates. The plans acquired with the Acquisition are the primary contributing factor for the increase in plan assets' fair value during 2023. In 2022, investment (losses) were the largest driver for the decrease in plan assets. The accumulated benefit obligation for all defined benefit plans was $5.7 billion and $4.8 billion at June 30, 2023 and 2022, respectively. Information for pension plans with accumulated benefit obligations in excess of plan assets: 2023 2022 Accumulated benefit obligation $ 4,352,952 $ 4,284,601 Fair value of plan assets 3,955,284 3,742,513 Information for pension plans with projected benefit obligations in excess of plan assets: 2023 2022 Projected benefit obligation $ 4,545,650 $ 4,483,486 Fair value of plan assets 4,019,445 3,782,688 We expect to make cash contributions of approximately $171 million to our defined benefit pension plans in 2024, the majority of which relates to our non-U.S. plans. Estimated future benefit payments in the five years ending June 30, 2024 through 2028 are $413 million, $413 million, $380 million, $387 million and $388 million, respectively, and $2.0 billion in the aggregate for the five years ending June 30, 2029 through June 30, 2033. The assumptions used to measure net periodic benefit cost for the Company's significant defined benefit plans are: 2023 2022 2021 U.S. defined benefit plan Discount rate 4.36 % 2.55 % 2.36 % Average increase in compensation 3.35 % 3.05 % 2.98 % Expected return on plan assets 6.50 % 6.50 % 6.75 % Non-U.S. defined benefit plans Discount rate 0.60 to 5.06% 0.25 to 2.95% 0.20 to 3.03% Average increase in compensation 1.75 to 4.00% 1.75 to 4.50% 1.75 to 4.50% Expected return on plan assets 1.00 to 5.10% 1.00 to 4.50% 1.00 to 5.40% The assumptions used to measure the benefit obligation for the Company's significant defined benefit plans are: 2023 2022 U.S. defined benefit plan Discount rate 4.88 % 4.36 % Average increase in compensation 3.81 % 3.81 % Non-U.S. defined benefit plans Discount rate 0.90 to 5.20% 0.60 to 5.06% Average increase in compensation 2.00 to 4.40% 1.75 to 4.00% 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: 2023 2022 Equity securities 30 % 31 % Debt securities 45 % 43 % Other investments 25 % 26 % 100 % 100 % The weighted-average target asset allocation as of June 30, 2023 is 39 percent equity securities, 45 percent debt securities and 16 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 65 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, 2023 and at June 30, 2022, by asset class, are as follows: June 30, 2023 Quoted Prices In Significant Other Significant Cash and cash equivalents $ 341,812 $ 333,978 $ 7,834 $ — Equity securities U.S. based companies 538,118 523,649 14,469 — Non-U.S. based companies 152,354 76,173 76,181 — Fixed income securities Corporate debt securities 464,056 118,536 345,520 — Government issued securities 610,326 570,368 39,958 — Mutual funds Equity funds 11,406 11,406 — — Fixed income funds 357 357 — — Mutual funds measured at net asset value 264,346 Common/Collective trusts measured at net asset value 2,626,832 Limited Partnerships measured at net asset value 137,077 Miscellaneous 308,610 — 308,610 — Total at June 30, 2023 $ 5,455,294 $ 1,634,467 $ 792,572 $ — June 30, 2022 Quoted Prices In Significant Other Significant Cash and cash equivalents $ 201,053 $ 190,616 $ 10,437 $ — Equity securities U.S. based companies 327,122 327,122 — — Non-U.S. based companies 8,700 8,700 — — Fixed income securities Corporate debt securities 380,694 1,309 379,385 — Government issued securities 87,650 55,201 32,449 — Mutual funds Equity funds 9,085 9,085 — — Fixed income funds 9,679 9,679 — — Mutual funds measured at net asset value 279,849 Common/Collective trusts measured at net asset value 2,718,445 Limited Partnerships measured at net asset value 133,026 Miscellaneous 206,850 — 206,850 — Total at June 30, 2022 $ 4,362,153 $ 601,712 $ 629,121 $ — 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, 2023, this required cash balance totaled approximately $49 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 $519 million and $327 million as of June 30, 2023 and 2022, 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, for which the lock-up period expired 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. Effective January 1, 2022, the Company matching contributions were increased, up to a maximum of five percent of eligible compensation from the previous maximum of four percent of eligible compensation. These contributions are recorded as compensation expense. Participants may direct company matching contributions to any investment option within the savings and investment 401(k) plan. 2023 2022 2021 Shares held by ESOP 3,779,985 4,125,214 4,497,902 Company matching contributions $ 104,237 $ 87,554 $ 66,249 In addition to shares within the ESOP, as of June 30, 2023, employees have elected to invest in 1,115,612 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 contributions 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 $63 million, $57 million and $42 million in expense related to the RIA in 2023, 2022 and 2021, respectively. In September 2023, we acquired several defined contribution plans, relating to the Meggitt acquisition, which are comprised of similar company matching contributions and RIA features as our legacy plan. During the year we recorded additional company matching expense of $9 million and additional RIA type expense of $11 million for the acquired 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 $2 million, $1 million and $1 million in expense related to other postretirement benefits in 2023, 2022 and 2021, respectively. Components of net other postretirement benefit cost, other than service cost, are included in other expense (income), net in the Consolidated Statement of Income. 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 48,876 $ 63,739 Service cost 330 206 Interest cost 3,004 982 Acquisition 39,112 — Actuarial gain (4,403) (11,220) Benefits paid (8,352) (4,831) Benefit obligation at end of year $ 78,567 $ 48,876 Funded status $ (78,567) $ (48,876) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (7,831) $ (4,971) Pensions and other postretirement benefits (70,736) (43,905) Net amount recognized $ (78,567) $ (48,876) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial gain $ (17,952) $ (15,154) 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. As of the date of the Acquisition, the Meggitt plans were remeasured at fair value using accounting policies consistent with Parker plans. The increase in the benefit obligation is due to the Acquisition in 2023. The decrease in the benefit obligation in 2022 is due to significantly higher discount rates and updated census data and actuarial assumptions. The assumptions used to measure the net periodic benefit cost for postretirement benefit obligations are: 2023 2022 2021 Discount rate 4.26 % 2.36 % 2.14 % Current medical cost trend rate (Pre-65 participants) 6.73 % 6.45 % 6.73 % Current medical cost trend rate (Post-65 participants) 6.81 % 6.72 % 7.03 % Ultimate medical cost trend rate 4.50 % 4.50 % 4.50 % Medical cost trend rate decreases to ultimate in year 2031 2029 2028 The discount rate assumption used to measure the benefit obligation was 4.86 percent and 4.26 percent in 2023 and 2022, respectively. Estimated future benefit payments for other postretirement benefits in the five years ending June 30, 2024 through 2028 are $8 million, $7 million, $7 million, $7 million and $7 million, respectively, and $29 million in the aggregate for the five years ending June 30, 2029 through June 30, 2033. 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 2023, 2022 and 2021, we recorded expense (income) relating to these programs of $20 million, $(21) million and $45 million, 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, 2023
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, 2021 $ (865,865) $ (700,862) $ (1,566,727) Other comprehensive (loss) income before reclassifications (290,853) 185,101 (105,752) Amounts reclassified from accumulated other comprehensive (loss) 7,647 121,634 129,281 Balance June 30, 2022 $ (1,149,071) $ (394,127) $ (1,543,198) Other comprehensive income before reclassifications 187,027 53,172 240,199 Amounts reclassified from accumulated other comprehensive (loss) — 10,127 10,127 Balance June 30, 2023 $ (962,044) $ (330,828) $ (1,292,872) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2023: 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 $ (931) Other expense (income), net Recognized actuarial loss (15,573) Other expense (income), net Divestiture activity 2,480 Other expense (income), net Total before tax (14,024) Tax benefit 3,897 Net of tax $ (10,127) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2022: 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 $ (4,111) Other expense (income), net Recognized actuarial loss (156,912) Other expense (income), net Total before tax (161,023) Tax benefit 39,389 Net of tax $ (121,634) Share Repurchases - The Company has a program to repurchase its common shares. On October 22, 2014, the Board of Directors of the Company approved an increase in the overall number of shares authorized to repurchase under the program so that, beginning on such date, the aggregate number of shares authorized for repurchase was 35 million. There is no limitation on the number of shares that can be repurchased in a year. Repurchases may be funded primarily from operating cash flows and commercial paper borrowings and the shares are initially held as treasury shares. The number of common shares repurchased at the average purchase price follows: 2023 2022 2021 Shares repurchased 663,599 1,281,818 331,259 Average price per share, including commissions $ 301.39 $ 296.71 $ 301.88

Stock Incentive Plans

Stock Incentive Plans	12 Months Ended
	Jun. 30, 2023
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, 2023, 6.4 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 2023, 2022 and 2021 was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions: 2023 2022 2021 Risk-free interest rate 3.0 % 0.8 % 0.4 % Expected life of award 5.6 years 5.6 years 5.4 years Expected dividend yield of stock 1.8 % 1.9 % 2.0 % Expected volatility of stock 37.1 % 35.7 % 35.2 % Weighted-average fair value $ 97.70 $ 81.71 $ 53.92 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 2023 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, 2022 4,099,144 $ 172.27 Granted 605,135 $ 298.26 Exercised (800,815) $ 134.38 Canceled (30,035) $ 263.62 Outstanding June 30, 2023 3,873,429 $ 199.08 6.0 years $ 739.7 Exercisable June 30, 2023 2,737,336 $ 165.45 5.0 years $ 614.8 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, 2022 1,212,497 $ 60.44 Granted 605,135 $ 97.36 Vested (654,784) $ 52.13 Canceled (26,755) $ 83.35 Nonvested June 30, 2023 1,136,093 $ 84.36 During 2023, 2022 and 2021, we recognized stock-based compensation expense of $51 million, $37 million and $35 million, 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, 2023, $19 million 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 23 months. The total fair value of shares vested during 2023, 2022 and 2021 was $34 million, $29 million and $25 million, respectively. Information related to SAR awards exercised during 2023, 2022 and 2021 is as follows: 2023 2022 2021 Net cash proceeds $ 3,476 $ 2,831 $ 4,684 Intrinsic value $ 158,452 $ 97,002 $ 225,025 Income tax benefit $ 26,854 $ 15,845 $ 37,437 Number of shares surrendered 152,835 98,673 316,330 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 2023, 2022 and 2021 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, 2022 277,902 $ 224.40 Granted 93,336 $ 298.54 Vested (155,718) $ 194.46 Canceled (9,999) $ 262.95 Nonvested June 30, 2023 205,521 $ 278.88 During 2023, 2022 and 2021, we recognized stock-based compensation expense of $27 million, $26 million and $26 million, respectively, relating to RSU awards for employees. At June 30, 2023, $18 million of expense with respect to nonvested RSU awards has yet to be recognized and will be amortized into expense over a weighted-average period of approximately 21 months. The total fair value of RSU awards vested during 2023, 2022 and 2021 was $30 million, $26 million and $21 million, respectively. We recognized an income tax benefit of $2 million, $4 million and $1 million relating to the issuance of common stock for RSU awards that vested during 2023, 2022 and 2021, 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, 2022 5,620 $ 297.89 Granted 6,638 $ 278.99 Vested (5,650) $ 297.89 Canceled (383) $ 278.90 Nonvested June 30, 2023 6,225 $ 278.90 The fair value of each RSU award granted to the Board of Directors in 2023, 2022 and 2021 was based on the fair market value of our common stock on the date of grant. In 2023, 2022 and 2021, we recognized stock-based compensation expense of $1.9 million, $1.8 million and $1.5 million, respectively, relating to these awards. During 2023, 2022 and 2021, we recognized an income tax (cost) benefit of $(0.02) million, $0.2 million and $2.1 million, respectively, related to the vesting of Board of Directors RSU awards. At June 30, 2023, $0.4 million 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 three 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 2023 2022 2021 LTIP three-year plan 2020-21-22 2019-20-21 2018-19-20 Number of shares issued 204,175 251,783 210,864 Number of shares surrendered 102,120 124,007 105,402 Share value on date of issuance $ 311.65 $ 271.38 $ 317.60 Total value of shares issued $ 63,631 $ 68,329 $ 66,970 Under the Company's 2021-22-23 LTIP, a payout of unrestricted stock will be issued in April 2024. The fair value of each LTIP award granted in 2023, 2022 and 2021 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 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, 2022 417,789 $ 246.63 Granted 186,194 $ 301.64 Vested (199,143) $ 205.95 Canceled (12,233) $ 279.75 Nonvested June 30, 2023 392,607 $ 292.32 During 2023, 2022 and 2021, we recorded stock-based compensation expense of $63 million, $72 million and $59 million, respectively, relating to the LTIP. During 2023, 2022 and 2021, we recognized an income tax benefit of $4 million, $5 million and $2 million, respectively, relating to the LTIP.

Research and Development

Research and Development	12 Months Ended
	Jun. 30, 2023
Research and Development [Abstract]
Research and Development	Research and Development Independent research and development costs amounted to $258 million in 2023, $191 million in 2022 and $205 million in 2021. Pre-production expense incurred in connection with development contracts amounted to $73 million in 2023, $74 million in 2022 and $54 million in 2021.

Financial Instruments

Financial Instruments	12 Months Ended
	Jun. 30, 2023
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: 2023 2022 Carrying value of long-term debt $ 10,845,359 $ 10,145,077 Estimated fair value of long-term debt 10,221,563 9,709,407 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 currency denominated debt designated as net investment hedges, to manage foreign currency transaction and translation risk. Additionally, we acquired forward exchange contracts and cross-currency swap contracts in connection with the Acquisition. 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. In connection with the Acquisition, the Company entered into deal-contingent forward contracts during October 2021 to mitigate the risk of appreciation in the GBP-denominated purchase price. The deal-contingent forward contracts had an aggregate notional amount of £6.4 billion, and were settled in September 2022 in connection with the Acquisition. In June 2022, we amended the agreement to include a credit support annex ("CSA") obligating Parker to post $250 million of cash collateral, which was recorded within non-trade and notes receivables on the Consolidated Balance Sheet. In July 2022, the Company received, and subsequently deposited into the escrow account, the $250 million cash collateral previously posted. Cash flows associated with the cash collateral are recorded in cash flow from investing activities on the Consolidated Statement of Cash Flows. 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 2023 2022 Net investment hedges Cross-currency swap contracts Investments and other assets $ 21,578 $ 21,444 Other derivative contracts Forward exchange contracts Non-trade and notes receivable — 20,976 Forward exchange contracts Other accrued liabilities — 5,651 Deal-contingent forward contracts Other accrued liabilities — 1,015,426 Costless collar contracts Non-trade and notes receivable — 351 Costless collar contracts Other accrued liabilities — 1,578 The cross-currency swap, forward exchange, deal-contingent forward 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 €69 million, €290 million and ¥2.1 billion cross-currency swap contracts have been designated as hedging instruments. The forward exchange, deal-contingent forward and costless collar contracts, as well as cross-currency swap contracts acquired as part of the Acquisition, have not been designated as hedging instruments and are considered to be economic hedges of forecasted transactions. The forward exchange and costless collar contracts, as well as the cross-currency swap contracts acquired as part of the Acquisition, are adjusted to fair value by recording gains and losses through the cost of sales caption in the Consolidated Statement of Income. The deal-contingent forward contracts are adjusted to fair value by recording gains and losses through the other expense (income), net 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 assess the effectiveness of the €69 million, €290 million and ¥2.1 billion cross-currency swap hedging instruments using the spot method. Under this method, the periodic interest settlements are recognized directly in earnings through interest expense. Gains (losses) on derivative financial instruments were recorded in the Consolidated Statement of Income as follows: 2023 2022 2021 Deal-contingent forward contracts $ (389,992) $ (1,015,426) $ — Forward exchange contracts (7,259) 55,860 15,879 Costless collar contracts 11,528 (4,364) (2,092) Cross-currency swap contracts (18,739) — — Gains (losses) on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) in the Consolidated Balance Sheet are as follows: 2023 2022 Cross-currency swap contracts $ 451 $ 69,992 Foreign currency denominated debt (22,534) 72,670 During 2023, 2022, and 2021, the periodic interest settlements related to the cross-currency swaps were not material. A summary of financial assets and liabilities that were measured at fair value on a recurring basis at June 30, 2023 and 2022 are as follows: June 30, 2023 Quoted Prices In Significant Other Significant Assets: Derivatives $ 21,578 $ — $ 21,578 $ — June 30, 2022 Quoted Prices In Significant Other Significant Assets: Equity securities $ 13,038 $ 13,038 $ — $ — Derivatives 42,771 — 42,771 — Liabilities: Derivatives 1,022,655 — 1,022,655 — 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, deal-contingent forward, 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, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is involved in various litigation matters arising in the normal course of business, including proceedings based on product liability claims, workers' compensation claims, employee claims, class action lawsuits, 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 - We are currently responsible for environmental matters primarily relating to known exposures arising from environmental litigation, investigations, and remediation at various manufacturing facilities presently or formerly operated by Parker and for which we have been named as a “potentially responsible party,” along with other companies, at off-site waste disposal facilities and regional sites. As of June 30, 2023, we had an accrual of $149.4 million 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, the amount of our liability in proportion to other responsible parties, and outcomes of litigation. Our estimated total liability for environmental matters ranges from a minimum of $149.4 million to a maximum of $251.5 million. The largest range for any one site is approximately $27.8 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, outcomes of litigation, and any insurance or other third-party recoveries.

Business Segment Information

Business Segment Information	12 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company operates in two reportable business segments: Diversified Industrial and Aerospace Systems. Both segments utilize eight core technologies, including hydraulics, pneumatics, electromechanical, filtration, fluid and gas handling, process control, engineered materials and climate control, to drive superior customer problem solving and value creation. 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 41 countries throughout Europe, Asia Pacific, Latin America, the Middle East and Africa. The Aerospace Systems Segment produces actuation, fuel, oil, pneumatic, hydraulic, electric power, sensing, fire suppression, thermal management, and braking systems and components, which are utilized on virtually every domestic commercial and military aircraft. 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. 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. 2023 2022 2021 Net Sales: Diversified Industrial: North America $ 8,916,194 $ 7,703,150 $ 6,676,449 International 5,789,499 5,638,896 5,283,710 Aerospace Systems 4,359,501 2,519,562 2,387,481 $ 19,065,194 $ 15,861,608 $ 14,347,640 Segment Operating Income: Diversified Industrial: North America $ 1,853,079 $ 1,515,259 $ 1,247,419 International 1,218,331 1,178,044 988,054 Aerospace Systems 562,444 501,431 402,895 Total segment operating income 3,633,854 3,194,734 2,638,368 Corporate administration 229,677 219,699 178,427 Income before interest expense and other expense 3,404,177 2,975,035 2,459,941 Interest expense 573,894 255,252 250,036 Other expense (income) 150,619 1,105,557 (37,052) Income before income taxes $ 2,679,664 $ 1,614,226 $ 2,246,957 Assets: Diversified Industrial $ 15,572,849 $ 15,838,512 $ 16,518,688 Aerospace Systems (a) 13,661,086 3,020,606 3,077,395 Corporate 730,537 7,084,825 745,117 $ 29,964,472 $ 25,943,943 $ 20,341,200 Property Additions: Diversified Industrial $ 292,456 $ 197,675 $ 186,233 Aerospace Systems 81,456 27,452 20,705 Corporate 6,835 4,917 3,019 $ 380,747 $ 230,044 $ 209,957 2023 2022 2021 Depreciation: Diversified Industrial $ 204,632 $ 219,206 $ 229,891 Aerospace Systems 104,286 29,576 32,151 Corporate 8,498 8,532 7,901 $ 317,416 $ 257,314 $ 269,943 Amortization: Diversified Industrial $ 267,779 $ 263,430 $ 274,368 Aerospace Systems 232,934 51,020 51,079 $ 500,713 $ 314,450 $ 325,447 By Geographic Area (b) Net Sales: North America $ 12,689,719 $ 10,216,292 $ 9,046,162 International 6,375,475 5,645,316 5,301,478 $ 19,065,194 $ 15,861,608 $ 14,347,640 Long-Lived Assets: North America $ 1,828,457 $ 1,398,966 $ 1,448,109 International 1,036,573 723,792 818,367 $ 2,865,030 $ 2,122,758 $ 2,266,476 (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 (2023 - $216 million; 2022 - $211 million; 2021 - $219 million) and assets held for sale (2022 - $66 million). (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.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Jun. 30, 2023
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, 2021, 2022 AND 2023 (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, 2021 $ 11,644 $ 4,673 $ (4,239) $ 12,078 Year ended June 30, 2022 $ 12,078 $ 1,719 $ (3,855) $ 9,942 Year ended June 30, 2023 $ 9,942 $ 7,379 $ 15,129 $ 32,450 Deferred tax asset valuation allowance: Year ended June 30, 2021 $ 771,430 $ 94,781 $ (447) $ 865,764 Year ended June 30, 2022 $ 865,764 $ 36,111 $ — $ 901,875 Year ended June 30, 2023 $ 901,875 $ 163,178 $ 13,301 $ 1,078,354 (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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 2,082,936	$ 1,315,605	[1]	$ 1,746,100	[1]
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2023
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. There are no individual customers to whom sales are more than four 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.
Reclassification	Reclassification - Certain prior-year amounts in the Consolidated Statement of Income have been reclassified to conform to the current-year presentation. Effective July 1, 2022, we began classifying certain expenses, previously classified as cost of sales, as selling, general and administrative expenses ("SG&A") or within other expense (income), net. During the integration of recently acquired businesses, the Company has seen diversity in practice of the classification of certain expenses, and the reclassification was made to better align the presentation of expenses on the Consolidated Statement of Income with management’s internal reporting. The expenses reclassified from cost of sales to SG&A relate to certain administrative activities conducted in production facilities and research and development. Foreign currency transaction expense was also reclassified from cost of sales to other expense (income), net on the Consolidated Statement of Income. These reclassifications had no impact on net income, earnings per share, cash flows, segment reporting or the financial position of the Company.
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, inter-segment and inter-area 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 assess 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. Allowance for credit losses was $32 million and $10 million at June 30, 2023 and 2022, respectively. The increase in the allowance for credit losses from the June 30, 2022 amount is primarily due to the Acquisition.
Property, Plant and Equipment and Depreciation	Property, Plant and Equipment and Depreciation - Property, 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 - 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 $297 million and $314 million at June 30, 2023 and 2022, 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 $124 million, $76 million and $41 million in 2023, 2022 and 2021, respectively.
Intangible Assets	Intangible Assets - Intangible assets primarily include patents and technology, trade names and customer relationships 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. Trade names are amortized over the estimated time period over which an economic benefit is expected to be received. Customer relationships are amortized over a period based on anticipated customer attrition rates or contractual lives. 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. Taxes related to Global Intangible Low-Taxed Income ("GILTI") are treated as a current period expense when incurred. 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 other expense (income), net caption in the Consolidated Statement of Income and were $46 million, $(40) million and $(11) million, in 2023, 2022 and 2021, respectively.
Business Combinations	Business Combinations - From time to time, we may enter into business combinations. Business acquisitions are accounted for using the acquisition method of accounting, which allocates the fair value of the purchase consideration to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. The acquisition method of accounting also requires us to refine these estimates over a measurement period not to exceed one year to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. Transaction costs associated with these acquisitions are expensed as incurred.
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, 2023. No subsequent events occurred that required adjustment to or disclosure in these financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements - In November 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-10, "Government Assistance (Topic 832), Disclosures by Business Entities about Government Assistance", which requires entities to provide disclosures on material government assistance transactions for annual reporting periods. The disclosures include information around the nature of the assistance, the related accounting policies used to account for government assistance, the effect of government assistance on the entity’s financial statements, and any significant terms and conditions of the agreements, including commitments and contingencies. The new guidance is effective for all entities for annual reporting periods beginning after December 15, 2021; however, early adoption is permitted. The guidance may be applied either prospectively to all in-scope transactions that are reflected in the financial statements at the date of initial application and to new transactions that are entered into after the date of initial application, or retrospectively. The Company prospectively adopted this standard during the fourth quarter of fiscal 2023 with no material impact on its consolidated financial statements and related disclosures. In September 2022, the FASB issued ASU 2022-04, "Liabilities—Supplier Finance Programs (Topic 405-50), Disclosure of Supplier Finance Program Obligations" ("ASU 2022-04"). ASU 2022-04 requires quantitative and qualitative disclosures about the key terms of supplier finance programs, an annual rollforward of obligations to finance providers, and interim disclosure of obligations as of each reporting period presented. ASU 2022-04 is effective for all entities for fiscal years beginning after December 15, 2022, on a retrospective basis, including interim periods within those fiscal years, except for the requirement to disclose rollforward information, which is effective prospectively for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements and does not expect it to be material.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2023
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, 2023 2022 Notes receivable $ 102,288 $ 103,558 Cash collateral receivable (a) — 250,000 Accounts receivable, other 206,879 190,199 Total $ 309,167 $ 543,757 (a) The cash collateral receivable relates to the deal-contingent forward contracts. Refer to Note 16 for further discussion.
Property, plant and equipment	The property, plant and equipment caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2023 2022 Land and land improvements $ 385,376 $ 322,024 Buildings and building equipment 2,051,546 1,783,805 Machinery and equipment 4,086,334 3,588,106 Construction in progress 342,289 204,020 Total $ 6,865,545 $ 5,897,955

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Diversified Industrial Segment revenues by technology platform: 2023 2022 2021 Motion Systems $ 3,830,062 $ 3,489,431 $ 3,081,366 Flow and Process Control 4,939,356 4,616,270 4,108,080 Filtration and Engineered Materials 5,936,275 5,236,345 4,770,713 Total $ 14,705,693 $ 13,342,046 $ 11,960,159 Aerospace Systems Segment revenues by product platform: 2023 2022 2021 Commercial original equipment manufacturer ("OEM") $ 1,461,279 $ 889,649 $ 761,679 Commercial aftermarket 1,363,965 514,727 379,438 Military OEM 905,328 705,988 791,245 Military aftermarket 628,929 409,198 455,119 Total $ 4,359,501 $ 2,519,562 $ 2,387,481 Upon completing the Acquisition, we reviewed the disaggregation of revenue disclosure for the Aerospace Systems Segment and believe that disaggregation by primary market provides more meaningful information than disaggregation by product platform. Total revenues by geographic region based on the Company's selling operation's location: 2023 2022 2021 North America $ 12,689,719 $ 10,216,292 $ 9,046,162 Europe 3,777,507 3,156,024 2,919,025 Asia Pacific 2,379,791 2,290,557 2,215,686 Latin America 218,177 198,735 166,767 Total $ 19,065,194 $ 15,861,608 $ 14,347,640
Contract assets and liabilities	Total contract assets and contract liabilities are as follows: 2023 2022 Contract assets, current (included within Prepaid expenses and other) $ 123,705 $ 28,546 Contract assets, noncurrent (included within Investments and other assets) 23,708 794 Total contract assets 147,413 29,340 Contract liabilities, current (included within Other accrued liabilities) (244,799) (60,472) Contract liabilities, noncurrent (included within Other liabilities) (78,239) (2,225) Total contract liabilities (323,038) (62,697) Net contract liabilities $ (175,625) $ (33,357)

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Purchase price allocation	The following table presents the preliminary estimated fair values of Meggitt's assets acquired and liabilities assumed on the date of the Acquisition. These preliminary estimates are based on available information and may be revised during the measurement period, not to exceed 12 months from the date of the Acquisition, as third-party valuations are finalized, additional information becomes available or as additional analysis is performed. Such revisions may have a material impact on our results of operations and financial position within the measurement period. September 12, 2022 (previously reported) Measurement Period Adjustments September 12, 2022 Assets: Cash and cash equivalents $ 89,704 $ — $ 89,704 Accounts receivable 427,255 (17,613) 409,642 Inventories 833,602 (94,298) 739,304 Prepaid expenses and other 125,763 (23,731) 102,032 Property, plant and equipment, net 675,232 (16,235) 658,997 Deferred income taxes 5,720 28,478 34,198 Other assets 219,472 (38,481) 180,991 Intangible assets 5,418,795 260,405 5,679,200 Goodwill 2,830,845 (41,765) 2,789,080 Total assets acquired $ 10,626,388 $ 56,760 $ 10,683,148 Liabilities: Notes payable and long-term debt payable within one year $ 306,266 $ 1,910 $ 308,176 Accounts payable, trade 219,780 62 219,842 Accrued payrolls and other compensation 89,226 (2,152) 87,074 Accrued domestic and foreign taxes — 21,068 21,068 Other accrued liabilities 367,605 (45,565) 322,040 Long-term debt 669,321 42,382 711,703 Pensions and other postretirement benefits 85,899 13,654 99,553 Deferred income taxes 1,274,726 (15,309) 1,259,417 Other liabilities 377,751 40,710 418,461 Total liabilities assumed 3,390,574 56,760 3,447,334 Net assets acquired $ 7,235,814 $ — $ 7,235,814
Unaudited Pro Forma Information	The following table presents unaudited pro forma information for 2023 and 2022 as if the Acquisition had occurred on July 1, 2021. (Unaudited) 2023 2022 Net sales $ 19,446,524 $ 17,911,409 Net income attributable to common shareholders 1,956,813 1,529,970

Business Realignment and Acqu_2

Business Realignment and Acquisition Integration Charges (Tables)	12 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Business realignment charges, acquisition integration charges and workforce reduction	Business realignment charges by business segment are as follows: 2023 2022 2021 Diversified Industrial $ 23,641 $ 13,787 $ 38,557 Aerospace Systems 3,065 967 6,680 Corporate administration — — 1,399 Other expense — 3 1,226 Workforce reductions in connection with such business realignment charges by business segment are as follows: 2023 2022 2021 Diversified Industrial 728 300 820 Aerospace Systems 30 10 327 Corporate administration — — 20 The business realignment charges are presented in the Consolidated Statement of Income as follows: 2023 2022* 2021* Cost of sales $ 15,993 $ 5,007 $ 27,276 Selling, general and administrative expenses 10,713 9,747 19,360 Loss on disposal of assets — 3 1,226 *Years ended June 30, 2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements. We also incurred the following acquisition integration charges related to the Meggitt, Lord and Exotic Metals Forming Company LLC ("Exotic") acquisitions: 2023 2022 2021 Diversified Industrial $ 8,511 $ 3,589 $ 11,222 Aerospace Systems 86,928 1,177 719

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income before income taxes	Income before income taxes was derived from the following sources: 2023 2022 2021 United States $ 1,408,206 $ 646,364 $ 1,273,037 Foreign 1,271,458 967,862 973,920 $ 2,679,664 $ 1,614,226 $ 2,246,957
Income taxes	Income taxes include the following: 2023 2022 2021 Federal Current $ 161,465 $ 297,672 $ 247,094 Deferred 81,426 (253,123) (52,960) Foreign Current 297,199 303,089 269,607 Deferred (13,509) (45,977) 8,851 State and local Current 45,599 48,479 34,895 Deferred 23,948 (52,100) (7,391) $ 596,128 $ 298,040 $ 500,096
Effective income tax rate reconciliation to statutory federal rate	A reconciliation of the effective income tax rate to the statutory federal rate follows: 2023 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes 2.1 (0.2) 1.0 Tax related to international activities 1.2 2.7 3.6 Cash surrender value of life insurance (0.1) 0.5 (0.6) Foreign derived intangible income deduction (1.1) (3.7) (1.0) Research tax credit (0.7) (0.8) (0.4) Share-based compensation (1.0) (1.3) (1.6) Other 0.8 0.3 0.3 Effective income tax rate 22.2 % 18.5 % 22.3 %
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: 2023 2022 Retirement benefits $ 158,560 $ 207,147 Other liabilities and reserves 333,012 180,624 Long-term contracts 37,747 8,739 Stock-based compensation 33,374 31,490 Loss carryforwards 1,083,732 888,552 Unrealized currency exchange gains and losses (1,680) 254,334 Inventory 96,501 14,649 Tax credit carryforwards 18,773 17,326 Undistributed foreign earnings (21,304) (21,822) Depreciation and amortization (2,228,606) (875,623) Valuation allowance (1,078,354) (901,875) Net deferred tax (liability) $ (1,568,245) $ (196,459) Change in net deferred tax (liability): Provision for deferred tax $ (91,865) $ 351,201 Items of other comprehensive (loss) income (64,342) (98,810) Acquisitions and other (1,215,579) 880 Total change in net deferred tax $ (1,371,786) $ 253,271
Reconciliation of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2023 2022 2021 Balance July 1 $ 90,669 $ 100,759 $ 86,277 Additions for tax positions related to current year 9,389 7,039 10,145 Additions for tax positions of prior years 6,171 1,415 10,320 Additions for acquisitions 25,957 — 2,376 Reductions for tax positions of prior years (3,063) (140) (1,996) Reductions for settlements (6,923) (3,127) (7,165) Reductions for expiration of statute of limitations (11,199) (6,647) (2,252) Effect of foreign currency translation 2,502 (8,630) 3,054 Balance June 30 $ 113,503 $ 90,669 $ 100,759

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2023
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: 2023 2022 2021 Numerator: Net income attributable to common shareholders $ 2,082,936 $ 1,315,605 $ 1,746,100 Denominator: Basic - weighted-average common shares 128,367,842 128,539,387 128,999,879 Increase in weighted-average common shares from dilutive effect of equity-based awards 1,454,243 1,816,556 1,834,599 Diluted - weighted-average common shares, assuming exercise of equity-based awards 129,822,085 130,355,943 130,834,478 Basic earnings per share $ 16.23 $ 10.24 $ 13.54 Diluted earnings per share $ 16.04 $ 10.09 $ 13.35

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventory components	The inventories caption in the Consolidated Balance Sheet is comprised of the following components: June 30, 2023 2022 Finished products $ 794,128 $ 811,702 Work in process 1,488,665 1,128,501 Raw materials 625,086 274,350 Total $ 2,907,879 $ 2,214,553

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2023
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, 2021 $ 7,457,309 $ 602,378 $ 8,059,687 Divestitures (164) — (164) Goodwill reclassified to held for sale — (48,242) (48,242) Foreign currency translation (271,164) (35) (271,199) Balance June 30, 2022 $ 7,185,981 $ 554,101 $ 7,740,082 Acquisitions 452,008 2,337,072 2,789,080 Divestitures (1,064) (2,232) (3,296) Foreign currency translation 45,830 56,898 102,728 Balance June 30, 2023 $ 7,682,755 $ 2,945,839 $ 10,628,594
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: 2023 2022 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Patents and technology $ 2,128,847 $ 352,040 $ 990,775 $ 259,587 Trade names 1,047,678 390,737 727,820 339,244 Customer relationships and other 8,109,063 2,092,197 3,735,042 1,718,989 Total $ 11,285,588 $ 2,834,974 $ 5,453,637 $ 2,317,820

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of long-term debt	June 30, 2023 2022 Domestic: Fixed rate medium-term notes, 3.30% to 6.25%, due 2025 - 2045 $ 1,825,000 $ 2,125,000 Senior Notes, 2.70% to 4.50%, due 2024 - 2049 7,275,000 7,275,000 Term Loan Facility, due 2026 875,000 — Foreign: Euro Senior Notes, 1.125%, due 2025 763,770 733,950 Other long-term debt 106,598 11,127 Deferred debt issuance costs (74,713) (86,972) Total long-term debt 10,770,655 10,058,105 Less: Long-term debt payable within one year 1,974,371 302,280 Long-term debt, net $ 8,796,284 $ 9,755,825

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Lease expense and supplemental cash flow information	The components of lease expense are as follows: 2023 2022 2021 Operating lease expense $ 60,411 $ 46,026 $ 48,171 Finance lease cost: Amortization of lease assets 5,604 1,861 1,576 Interest on lease liabilities 4,383 390 455 Short-term lease cost 7,577 7,041 7,674 Variable lease cost 5,747 5,849 5,835 Total lease cost $ 83,722 $ 61,167 $ 63,711 Supplemental cash flow information related to leases is as follows: 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - payments on operating leases $ 57,717 $ 45,371 $ 47,080 Operating cash outflows - interest payments on finance leases 4,383 390 455 Financing cash outflows - payments on finance lease obligations 5,141 1,992 1,713 Right-of-use assets obtained in exchange for operating lease obligations 45,365 50,925 41,637 Right-of-use assets obtained in exchange for finance lease obligations 1,340 — 3,834
Supplemental balance sheet information	Supplemental balance sheet information related to operating leases is as follows: 2023 2022 Operating Leases Operating lease right-of-use assets (included within Investments and other assets) $ 232,733 $ 133,412 Current operating lease liabilities (included within Other accrued liabilities) $ 50,523 $ 36,023 Long-term operating lease liabilities (included within Other liabilities) 187,445 100,337 Total operating lease liabilities $ 237,968 $ 136,360 Finance Leases Land and buildings $ 107,910 $ 9,223 Machinery and equipment 5,113 5,066 Accumulated depreciation (8,196) (3,836) Net property, plant and equipment $ 104,827 $ 10,453 Current portion of long-term debt (included within Other accrued liabilities) $ 4,198 $ 1,691 Long-term debt (included within Other liabilities) 100,889 8,575 Total finance lease liabilities $ 105,087 $ 10,266 Weighted-average remaining lease term Operating leases 6.9 years 5.6 years Finance leases 20.8 years 15.7 years Weighted-average discount rate Operating leases 3.9 % 1.6 % Finance leases 5.2 % 3.3 %
Maturities of operating lease liabilities	Maturities of lease liabilities at June 30, 2023 are as follows: Operating Leases Finance Leases 2024 $ 58,351 $ 9,483 2025 49,196 8,871 2026 38,352 8,792 2027 28,590 8,896 2028 21,481 8,936 Thereafter 82,407 128,519 Total lease payments $ 278,377 $ 173,497 Less imputed interest 40,409 68,410 Total lease liabilities $ 237,968 $ 105,087
Maturities of financing lease liabilities	Maturities of lease liabilities at June 30, 2023 are as follows: Operating Leases Finance Leases 2024 $ 58,351 $ 9,483 2025 49,196 8,871 2026 38,352 8,792 2027 28,590 8,896 2028 21,481 8,936 Thereafter 82,407 128,519 Total lease payments $ 278,377 $ 173,497 Less imputed interest 40,409 68,410 Total lease liabilities $ 237,968 $ 105,087

Retirement Benefits (Tables)

Retirement Benefits (Tables)	12 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Schedule of net benefit costs	A summary of the Company's defined benefit pension plans follows: 2023 2022 2021 Benefit cost Service cost $ 57,418 $ 76,638 $ 84,188 Interest cost 225,468 110,250 102,475 Expected return on plan assets (311,145) (267,888) (267,579) Amortization of prior service cost 931 4,103 5,325 Amortization of unrecognized actuarial loss 17,178 157,288 207,897 Amortization of transition obligation — 8 18 One-time charges related to divestitures (2,480) — — Net periodic benefit cost $ (12,630) $ 80,399 $ 132,324
Schedule of defined benefit plans	2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 4,959,319 $ 6,323,003 Service cost 57,418 76,638 Interest cost 225,468 110,250 Acquisition 1,181,139 — Plan amendments 2,521 (5,691) Divestiture (1,779) — Actuarial gain (349,476) (1,097,053) Benefits paid (312,758) (256,868) Foreign currency translation and other 73,839 (190,960) Benefit obligation at end of year $ 5,835,691 $ 4,959,319 Change in plan assets Fair value of plan assets at beginning of year $ 4,362,153 $ 5,305,577 Actual gain (loss) on plan assets 31,399 (605,642) Acquisition 1,140,707 — Employer contributions 153,038 96,717 Benefits paid (312,758) (256,868) Foreign currency translation and other 80,756 (177,631) Fair value of plan assets at end of year $ 5,455,295 $ 4,362,153 Funded status $ (380,396) $ (597,166) Amounts recognized on the Consolidated Balance Sheet Investments and other assets $ 145,809 $ 103,632 Other accrued liabilities (57,783) (19,307) Pensions and other postretirement benefits (468,422) (681,491) Net amount recognized $ (380,396) $ (597,166) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial loss $ 593,937 $ 672,775 Prior service cost 6,489 4,901 Net amount recognized $ 600,426 $ 677,676 2023 2022 Change in benefit obligation Benefit obligation at beginning of year $ 48,876 $ 63,739 Service cost 330 206 Interest cost 3,004 982 Acquisition 39,112 — Actuarial gain (4,403) (11,220) Benefits paid (8,352) (4,831) Benefit obligation at end of year $ 78,567 $ 48,876 Funded status $ (78,567) $ (48,876) Amounts recognized on the Consolidated Balance Sheet Other accrued liabilities $ (7,831) $ (4,971) Pensions and other postretirement benefits (70,736) (43,905) Net amount recognized $ (78,567) $ (48,876) Amounts recognized in Accumulated Other Comprehensive (Loss) Net actuarial gain $ (17,952) $ (15,154)
Plan with accumulated benefit obligation in excess of plan assets	Information for pension plans with accumulated benefit obligations in excess of plan assets: 2023 2022 Accumulated benefit obligation $ 4,352,952 $ 4,284,601 Fair value of plan assets 3,955,284 3,742,513
Plan with projected benefit obligation in excess of plan assets	Information for pension plans with projected benefit obligations in excess of plan assets: 2023 2022 Projected benefit obligation $ 4,545,650 $ 4,483,486 Fair value of plan assets 4,019,445 3,782,688
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: 2023 2022 2021 U.S. defined benefit plan Discount rate 4.36 % 2.55 % 2.36 % Average increase in compensation 3.35 % 3.05 % 2.98 % Expected return on plan assets 6.50 % 6.50 % 6.75 % Non-U.S. defined benefit plans Discount rate 0.60 to 5.06% 0.25 to 2.95% 0.20 to 3.03% Average increase in compensation 1.75 to 4.00% 1.75 to 4.50% 1.75 to 4.50% Expected return on plan assets 1.00 to 5.10% 1.00 to 4.50% 1.00 to 5.40% The assumptions used to measure the benefit obligation for the Company's significant defined benefit plans are: 2023 2022 U.S. defined benefit plan Discount rate 4.88 % 4.36 % Average increase in compensation 3.81 % 3.81 % Non-U.S. defined benefit plans Discount rate 0.90 to 5.20% 0.60 to 5.06% Average increase in compensation 2.00 to 4.40% 1.75 to 4.00% The assumptions used to measure the net periodic benefit cost for postretirement benefit obligations are: 2023 2022 2021 Discount rate 4.26 % 2.36 % 2.14 % Current medical cost trend rate (Pre-65 participants) 6.73 % 6.45 % 6.73 % Current medical cost trend rate (Post-65 participants) 6.81 % 6.72 % 7.03 % Ultimate medical cost trend rate 4.50 % 4.50 % 4.50 % Medical cost trend rate decreases to ultimate in year 2031 2029 2028
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: 2023 2022 Equity securities 30 % 31 % Debt securities 45 % 43 % Other investments 25 % 26 % 100 % 100 % The fair values of pension plan assets at June 30, 2023 and at June 30, 2022, by asset class, are as follows: June 30, 2023 Quoted Prices In Significant Other Significant Cash and cash equivalents $ 341,812 $ 333,978 $ 7,834 $ — Equity securities U.S. based companies 538,118 523,649 14,469 — Non-U.S. based companies 152,354 76,173 76,181 — Fixed income securities Corporate debt securities 464,056 118,536 345,520 — Government issued securities 610,326 570,368 39,958 — Mutual funds Equity funds 11,406 11,406 — — Fixed income funds 357 357 — — Mutual funds measured at net asset value 264,346 Common/Collective trusts measured at net asset value 2,626,832 Limited Partnerships measured at net asset value 137,077 Miscellaneous 308,610 — 308,610 — Total at June 30, 2023 $ 5,455,294 $ 1,634,467 $ 792,572 $ — June 30, 2022 Quoted Prices In Significant Other Significant Cash and cash equivalents $ 201,053 $ 190,616 $ 10,437 $ — Equity securities U.S. based companies 327,122 327,122 — — Non-U.S. based companies 8,700 8,700 — — Fixed income securities Corporate debt securities 380,694 1,309 379,385 — Government issued securities 87,650 55,201 32,449 — Mutual funds Equity funds 9,085 9,085 — — Fixed income funds 9,679 9,679 — — Mutual funds measured at net asset value 279,849 Common/Collective trusts measured at net asset value 2,718,445 Limited Partnerships measured at net asset value 133,026 Miscellaneous 206,850 — 206,850 — Total at June 30, 2022 $ 4,362,153 $ 601,712 $ 629,121 $ —
Schedule of employee stock ownership plan (ESOP)	2023 2022 2021 Shares held by ESOP 3,779,985 4,125,214 4,497,902 Company matching contributions $ 104,237 $ 87,554 $ 66,249

Equity (Tables)

Equity (Tables)	12 Months Ended
	Jun. 30, 2023
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, 2021 $ (865,865) $ (700,862) $ (1,566,727) Other comprehensive (loss) income before reclassifications (290,853) 185,101 (105,752) Amounts reclassified from accumulated other comprehensive (loss) 7,647 121,634 129,281 Balance June 30, 2022 $ (1,149,071) $ (394,127) $ (1,543,198) Other comprehensive income before reclassifications 187,027 53,172 240,199 Amounts reclassified from accumulated other comprehensive (loss) — 10,127 10,127 Balance June 30, 2023 $ (962,044) $ (330,828) $ (1,292,872)
Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity	Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2023: 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 $ (931) Other expense (income), net Recognized actuarial loss (15,573) Other expense (income), net Divestiture activity 2,480 Other expense (income), net Total before tax (14,024) Tax benefit 3,897 Net of tax $ (10,127) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity during 2022: 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 $ (4,111) Other expense (income), net Recognized actuarial loss (156,912) Other expense (income), net Total before tax (161,023) Tax benefit 39,389 Net of tax $ (121,634)
Schedule of share repurchases	The number of common shares repurchased at the average purchase price follows: 2023 2022 2021 Shares repurchased 663,599 1,281,818 331,259 Average price per share, including commissions $ 301.39 $ 296.71 $ 301.88

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	12 Months Ended
	Jun. 30, 2023
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 2023, 2022 and 2021 was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions: 2023 2022 2021 Risk-free interest rate 3.0 % 0.8 % 0.4 % Expected life of award 5.6 years 5.6 years 5.4 years Expected dividend yield of stock 1.8 % 1.9 % 2.0 % Expected volatility of stock 37.1 % 35.7 % 35.2 % Weighted-average fair value $ 97.70 $ 81.71 $ 53.92
Stock appreciation rights activity	SAR activity during 2023 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, 2022 4,099,144 $ 172.27 Granted 605,135 $ 298.26 Exercised (800,815) $ 134.38 Canceled (30,035) $ 263.62 Outstanding June 30, 2023 3,873,429 $ 199.08 6.0 years $ 739.7 Exercisable June 30, 2023 2,737,336 $ 165.45 5.0 years $ 614.8
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, 2022 1,212,497 $ 60.44 Granted 605,135 $ 97.36 Vested (654,784) $ 52.13 Canceled (26,755) $ 83.35 Nonvested June 30, 2023 1,136,093 $ 84.36
Information related to stock appreciation rights awards exercised	Information related to SAR awards exercised during 2023, 2022 and 2021 is as follows: 2023 2022 2021 Net cash proceeds $ 3,476 $ 2,831 $ 4,684 Intrinsic value $ 158,452 $ 97,002 $ 225,025 Income tax benefit $ 26,854 $ 15,845 $ 37,437 Number of shares surrendered 152,835 98,673 316,330
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, 2022 277,902 $ 224.40 Granted 93,336 $ 298.54 Vested (155,718) $ 194.46 Canceled (9,999) $ 262.95 Nonvested June 30, 2023 205,521 $ 278.88 Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2022 5,620 $ 297.89 Granted 6,638 $ 278.99 Vested (5,650) $ 297.89 Canceled (383) $ 278.90 Nonvested June 30, 2023 6,225 $ 278.90
Status and changes of shares of long term incentive plans shares and the related average price per share	Stock issued and surrendered for LTIP 2023 2022 2021 LTIP three-year plan 2020-21-22 2019-20-21 2018-19-20 Number of shares issued 204,175 251,783 210,864 Number of shares surrendered 102,120 124,007 105,402 Share value on date of issuance $ 311.65 $ 271.38 $ 317.60 Total value of shares issued $ 63,631 $ 68,329 $ 66,970 Number of Shares Weighted-Average Grant Date Fair Value Nonvested June 30, 2022 417,789 $ 246.63 Granted 186,194 $ 301.64 Vested (199,143) $ 205.95 Canceled (12,233) $ 279.75 Nonvested June 30, 2023 392,607 $ 292.32

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Jun. 30, 2023
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: 2023 2022 Carrying value of long-term debt $ 10,845,359 $ 10,145,077 Estimated fair value of long-term debt 10,221,563 9,709,407
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 2023 2022 Net investment hedges Cross-currency swap contracts Investments and other assets $ 21,578 $ 21,444 Other derivative contracts Forward exchange contracts Non-trade and notes receivable — 20,976 Forward exchange contracts Other accrued liabilities — 5,651 Deal-contingent forward contracts Other accrued liabilities — 1,015,426 Costless collar contracts Non-trade and notes receivable — 351 Costless collar contracts Other accrued liabilities — 1,578
Gain (losses) on derivative financial instruments recorded in consolidated statement if income	Gains (losses) on derivative financial instruments were recorded in the Consolidated Statement of Income as follows: 2023 2022 2021 Deal-contingent forward contracts $ (389,992) $ (1,015,426) $ — Forward exchange contracts (7,259) 55,860 15,879 Costless collar contracts 11,528 (4,364) (2,092) Cross-currency swap contracts (18,739) — —
(Losses) gains on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss)	Gains (losses) on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) in the Consolidated Balance Sheet are as follows: 2023 2022 Cross-currency swap contracts $ 451 $ 69,992 Foreign currency denominated debt (22,534) 72,670
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, 2023 and 2022 are as follows: June 30, 2023 Quoted Prices In Significant Other Significant Assets: Derivatives $ 21,578 $ — $ 21,578 $ — June 30, 2022 Quoted Prices In Significant Other Significant Assets: Equity securities $ 13,038 $ 13,038 $ — $ — Derivatives 42,771 — 42,771 — Liabilities: Derivatives 1,022,655 — 1,022,655 —

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Business segment information	2023 2022 2021 Net Sales: Diversified Industrial: North America $ 8,916,194 $ 7,703,150 $ 6,676,449 International 5,789,499 5,638,896 5,283,710 Aerospace Systems 4,359,501 2,519,562 2,387,481 $ 19,065,194 $ 15,861,608 $ 14,347,640 Segment Operating Income: Diversified Industrial: North America $ 1,853,079 $ 1,515,259 $ 1,247,419 International 1,218,331 1,178,044 988,054 Aerospace Systems 562,444 501,431 402,895 Total segment operating income 3,633,854 3,194,734 2,638,368 Corporate administration 229,677 219,699 178,427 Income before interest expense and other expense 3,404,177 2,975,035 2,459,941 Interest expense 573,894 255,252 250,036 Other expense (income) 150,619 1,105,557 (37,052) Income before income taxes $ 2,679,664 $ 1,614,226 $ 2,246,957 Assets: Diversified Industrial $ 15,572,849 $ 15,838,512 $ 16,518,688 Aerospace Systems (a) 13,661,086 3,020,606 3,077,395 Corporate 730,537 7,084,825 745,117 $ 29,964,472 $ 25,943,943 $ 20,341,200 Property Additions: Diversified Industrial $ 292,456 $ 197,675 $ 186,233 Aerospace Systems 81,456 27,452 20,705 Corporate 6,835 4,917 3,019 $ 380,747 $ 230,044 $ 209,957 2023 2022 2021 Depreciation: Diversified Industrial $ 204,632 $ 219,206 $ 229,891 Aerospace Systems 104,286 29,576 32,151 Corporate 8,498 8,532 7,901 $ 317,416 $ 257,314 $ 269,943 Amortization: Diversified Industrial $ 267,779 $ 263,430 $ 274,368 Aerospace Systems 232,934 51,020 51,079 $ 500,713 $ 314,450 $ 325,447 By Geographic Area (b) Net Sales: North America $ 12,689,719 $ 10,216,292 $ 9,046,162 International 6,375,475 5,645,316 5,301,478 $ 19,065,194 $ 15,861,608 $ 14,347,640 Long-Lived Assets: North America $ 1,828,457 $ 1,398,966 $ 1,448,109 International 1,036,573 723,792 818,367 $ 2,865,030 $ 2,122,758 $ 2,266,476 (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 (2023 - $216 million; 2022 - $211 million; 2021 - $219 million) and assets held for sale (2022 - $66 million). (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.

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021
Concentration Risk [Line Items]
Decrease to cost of sales	$ (12,635,892)	$ (10,550,309)	[1]	$ (9,604,522)	[1]
Increase to selling, general and administrative expenses	3,354,103	2,504,061	[1]	2,383,407	[1]
Decrease to other (income) expense, net	184,167	944,881	[1]	(27,950)	[1]
Trade accounts receivable, allowance for doubtful accounts	32,000	10,000
Investment in joint-venture companies and company's equity in undistributed earnings	297,000	314,000
Share of earnings from investments in joint-venture companies	124,000	76,000		41,000
Other expense (income), net	$ 46,000	(40,000)		(11,000)
Buildings
Concentration Risk [Line Items]
Useful life	40 years
Land Improvements and Building Equipment
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
Revision of Prior Period, Reclassification, Adjustment
Concentration Risk [Line Items]
Decrease to cost of sales		837,000		845,000
Increase to selling, general and administrative expenses		877,000		856,000
Decrease to other (income) expense, net		$ 40,000		$ 11,000
Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenue, individual customer, less than	4%
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Significant Accounting Polici_5

Significant Accounting Policies - Non-trade and notes receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Notes receivable	$ 102,288	$ 103,558
Cash collateral receivable(a)	0	250,000
Accounts receivable, other	206,879	190,199
Total	$ 309,167	$ 543,757

Significant Accounting Polici_6

Significant Accounting Policies - Property, plant and equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Land and land improvements	$ 385,376	$ 322,024
Buildings and building equipment	2,051,546	1,783,805
Machinery and equipment	4,086,334	3,588,106
Construction in progress	342,289	204,020
Total	$ 6,865,545	$ 5,897,955

Revenue Recognition - Revenues

Revenue Recognition - Revenues by segment and by platform (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 19,065,194	$ 15,861,608	[1]	$ 14,347,640	[1]
Diversified Industrial
Disaggregation of Revenue [Line Items]
Revenues from contracts	14,705,693	13,342,046		11,960,159
Diversified Industrial | Motion Systems
Disaggregation of Revenue [Line Items]
Revenues from contracts	3,830,062	3,489,431		3,081,366
Diversified Industrial | Flow and Process Control
Disaggregation of Revenue [Line Items]
Revenues from contracts	4,939,356	4,616,270		4,108,080
Diversified Industrial | Filtration and Engineered Materials
Disaggregation of Revenue [Line Items]
Revenues from contracts	5,936,275	5,236,345		4,770,713
Aerospace Systems
Disaggregation of Revenue [Line Items]
Revenues from contracts	4,359,501	2,519,562		2,387,481
Aerospace Systems | Commercial original equipment manufacturer ("OEM")
Disaggregation of Revenue [Line Items]
Revenues from contracts	1,461,279	889,649		761,679
Aerospace Systems | Commercial aftermarket
Disaggregation of Revenue [Line Items]
Revenues from contracts	1,363,965	514,727		379,438
Aerospace Systems | Military OEM
Disaggregation of Revenue [Line Items]
Revenues from contracts	905,328	705,988		791,245
Aerospace Systems | Military aftermarket
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 628,929	$ 409,198		$ 455,119
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by geographic region (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 19,065,194	$ 15,861,608	[1]	$ 14,347,640	[1]
North America
Disaggregation of Revenue [Line Items]
Revenues from contracts	12,689,719	10,216,292		9,046,162
Europe
Disaggregation of Revenue [Line Items]
Revenues from contracts	3,777,507	3,156,024		2,919,025
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues from contracts	2,379,791	2,290,557		2,215,686
Latin America
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 218,177	$ 198,735		$ 166,767
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Revenue Recognition - Contract

Revenue Recognition - Contract assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract assets, current (included within Prepaid expenses and other)	$ 123,705	$ 28,546
Contract assets, noncurrent (included within Investments and other assets)	23,708	794
Total contract assets	147,413	29,340
Contract liabilities, current (included within Other accrued liabilities)	(244,799)	(60,472)
Contract liabilities, noncurrent (included within Other liabilities)	(78,239)	(2,225)
Total contract liabilities	(323,038)	(62,697)
Net contract liabilities	$ (175,625)	$ (33,357)

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 47
Remaining performance obligation, amount	$ 11,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	79%
Remaining performance obligation, period	12 months

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) $ in Thousands

1 Months Ended

12 Months Ended

Sep. 12, 2022 USD ($)

Jun. 30, 2023 USD ($)

Mar. 31, 2023 USD ($)

Oct. 31, 2022 USD ($) tranche

Sep. 30, 2022 USD ($)

Jun. 30, 2023 USD ($)

Jun. 30, 2022 USD ($)

Jun. 30, 2021 USD ($)

[1]

Sep. 12, 2022 £ / shares

Sep. 12, 2022 USD ($)

Business Acquisition [Line Items]

Interest expense

$ 573,894

$ 255,252

[1]

$ 250,036

Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]

Other expense (income), net

Aircraft Wheel and Brake Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Business Acquisition [Line Items]

Proceeds from sale of businesses

$ 443,000

Pre-tax gain (loss) related to divestiture

$ 374,000

Aircraft Wheel and Brake Business | Disposal Group, Held-for-sale, Not Discontinued Operations

Business Acquisition [Line Items]

Aggregate carrying amount, net assets

66,000

French Aerospace Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Business Acquisition [Line Items]

Proceeds from sale of businesses

$ 27,000

Pre-tax gain (loss) related to divestiture

$ (12,000)

Meggitt plc

Business Acquisition [Line Items]

Price per share of stock acquired (in pound sterling per share) | £ / shares

£ 8

Purchase price to acquire business (in pound sterling)

$ 7,200,000

Aggregate annual sales for businesses acquired, for their most recent fiscal year prior to acquisition

$ 2,100,000

Operating lease right of use assets

$ 116,000

Finance lease right-of-use assets

91,000

Operating lease liability

118,000

Finance lease liability

90,000

Operating lease liability, current

19,000

Finance lease liability, current

1,000

Liabilities assumed, environmental matters

134,000

Net sales, from date of acquisition

2,100,000

Operating income from date of acquisition

23,000

Acquisition-related transaction costs

115,000

Acquisition-relate nonrecurring adjustments

199,000

654,000

Restricted cash

$ 0

$ 0

$ 6,100,000

Meggitt plc | Private Placement Notes

Business Acquisition [Line Items]

Debt assumed, private placement notes

$ 900,000

Repayments of debt

600,000

$ 300,000

Debt instrument, repayment of debt, number of tranches | tranche

2

Interest expense

$ 10,000

Meggitt plc | Aerospace Systems

Business Acquisition [Line Items]

Percentage of revenue allocated to segment

82%

Meggitt plc | Diversified Industrial

Business Acquisition [Line Items]

Percentage of revenue allocated to segment

18%

Meggitt plc | Minimum | Private Placement Notes

Business Acquisition [Line Items]

Interest rate

2.78%

Meggitt plc | Maximum | Private Placement Notes

Business Acquisition [Line Items]

Interest rate

3.60%

Meggitt plc | Customer Relationships

Business Acquisition [Line Items]

Intangible assets acquired

$ 4,300,000

Weighted average useful life of intangible assets

22 years

Meggitt plc | Technology

Business Acquisition [Line Items]

Intangible assets acquired

1,100,000

Weighted average useful life of intangible assets

21 years

Meggitt plc | Trade names

Business Acquisition [Line Items]

Intangible assets acquired

$ 304,000

Weighted average useful life of intangible assets

18 years

[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Schedule of assets and liabilities assumed on acquisition date (Details) - USD ($) $ in Thousands	Sep. 12, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Assets:
Goodwill		$ 10,628,594	$ 7,740,082	$ 8,059,687
Meggitt plc
Assets:
Cash and cash equivalents	$ 89,704
Measurement period adjustments, cash and cash equivalents	0
Accounts receivable	409,642
Measurement period adjustments, accounts receivable	(17,613)
Inventories	739,304
Measurement period adjustments, inventory	(94,298)
Prepaid expenses and other	102,032
Measurement period adjustments, prepaid expenses and other	(23,731)
Property, plant and equipment, net	658,997
Measurement period adjustments, property, plant, and equipment, net	(16,235)
Deferred income taxes	34,198
Measurement period adjustments, deferred income taxes	28,478
Other assets	180,991
Measurement period adjustments, other assets	(38,481)
Intangible assets	5,679,200
Measurement period adjustments, intangible assets	260,405
Goodwill	2,789,080
Measurement period adjustments, goodwill	(41,765)
Total assets acquired	10,683,148
Measurement period adjustments, total assets acquired	56,760
Liabilities:
Notes payable and long-term debt payable within one year	308,176
Measurement period adjustments, notes payable and long-term debt payable within one year	1,910
Accounts payable, trade	219,842
Measurement period adjustments, accounts payable, trade	62
Accrued payrolls and other compensation	87,074
Measurement period adjustments, accrued payrolls and other compensation	(2,152)
Accrued domestic and foreign taxes	21,068
Measurement period adjustments, accrued domestic and foreign taxes	21,068
Other accrued liabilities	322,040
Measurement period adjustments, other accrued liabilities	(45,565)
Long-term debt	711,703
Measurement period adjustments, long-term debt	42,382
Pensions and other postretirement benefits	99,553
Measurement period adjustments, pensions and other postretirement benefits	13,654
Deferred income taxes	1,259,417
Measurement period adjustments, deferred income taxes	(15,309)
Other liabilities	418,461
Measurement period adjustments, other liabilities	40,710
Total liabilities assumed	3,447,334
Measurement period adjustments, total liabilities assumed	56,760
Net assets acquired	7,235,814
Measurement period adjustments, net assets acquired	0
Meggitt plc | Previously Reported
Assets:
Cash and cash equivalents	89,704
Accounts receivable	427,255
Inventories	833,602
Prepaid expenses and other	125,763
Property, plant and equipment, net	675,232
Deferred income taxes	5,720
Other assets	219,472
Intangible assets	5,418,795
Goodwill	2,830,845
Total assets acquired	10,626,388
Liabilities:
Notes payable and long-term debt payable within one year	306,266
Accounts payable, trade	219,780
Accrued payrolls and other compensation	89,226
Accrued domestic and foreign taxes	0
Other accrued liabilities	367,605
Long-term debt	669,321
Pensions and other postretirement benefits	85,899
Deferred income taxes	1,274,726
Other liabilities	377,751
Total liabilities assumed	3,390,574
Net assets acquired	$ 7,235,814

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Unaudited pro forma information (Details) - Meggitt plc - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Net sales	$ 19,446,524	$ 17,911,409
Net income attributable to common shareholders	$ 1,956,813	$ 1,529,970

Business Realignment and Acqu_3

Business Realignment and Acquisition Integration Charges - Business realignment charges and workforce reductions (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2023 USD ($) employee	Jun. 30, 2022 USD ($) employee	Jun. 30, 2021 USD ($) employee
Cost of sales
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 15,993	$ 5,007	$ 27,276
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	10,713	9,747	19,360
Loss on disposal of assets
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	0	3	1,226
Operating segments | Diversified Industrial
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 23,641	$ 13,787	$ 38,557
Work force reduction (in employees) | employee	728	300	820
Operating segments | Aerospace Systems
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 3,065	$ 967	$ 6,680
Work force reduction (in employees) | employee	30	10	327
Corporate administration
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 0	$ 0	$ 1,399
Work force reduction (in employees) | employee	0	0	20
Other expense
Restructuring Cost and Reserve [Line Items]
Charges related to business realignment	$ 0	$ 3	$ 1,226

Business Realignment and Acqu_4

Business Realignment and Acquisition Integration Charges - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Payments for restructuring	$ 22
Remaining severance payments related to current-year and prior-year actions	$ 14
Expense from exit of business operations in Russia		$ 20
Foreign currency translation expense		8
Nonoperating Income (Expense)
Restructuring Cost and Reserve [Line Items]
Expense from exit of business operations in Russia		$ 7

Business Realignment and Acqu_5

Business Realignment and Acquisition Integration Charges - Acquisition integration charges related to the Lord, Exotic and proposed Meggitt acquisitions (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Diversified Industrial
Restructuring Cost and Reserve [Line Items]
Acquisition integration charges	$ 8,511	$ 3,589	$ 11,222
Aerospace Systems
Restructuring Cost and Reserve [Line Items]
Acquisition integration charges	$ 86,928	$ 1,177	$ 719

Income Taxes - Income before in

Income Taxes - Income before income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
United States	$ 1,408,206	$ 646,364	$ 1,273,037
Foreign	1,271,458	967,862	973,920
Income before income taxes	$ 2,679,664	$ 1,614,226	$ 2,246,957

Income Taxes - Schedule of inco

Income Taxes - Schedule of income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021
Federal
Current	$ 161,465	$ 297,672		$ 247,094
Deferred	81,426	(253,123)		(52,960)
Foreign
Current	297,199	303,089		269,607
Deferred	(13,509)	(45,977)		8,851
State and local
Current	45,599	48,479		34,895
Deferred	23,948	(52,100)		(7,391)
Income taxes	$ 596,128	$ 298,040	[1]	$ 500,096	[1]
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 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, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21%	21%	21%
State and local income taxes	2.10%	(0.20%)	1%
Tax related to international activities	1.20%	2.70%	3.60%
Cash surrender value of life insurance	(0.10%)	0.50%	(0.60%)
Foreign derived intangible income deduction	(1.10%)	(3.70%)	(1.00%)
Research tax credit	(0.70%)	(0.80%)	(0.40%)
Share-based compensation	(1.00%)	(1.30%)	(1.60%)
Other	0.80%	0.30%	0.30%
Effective income tax rate	22.20%	18.50%	22.30%

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, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Retirement benefits	$ 158,560	$ 207,147
Other liabilities and reserves	333,012	180,624
Long-term contracts	37,747	8,739
Stock-based compensation	33,374	31,490
Loss carryforwards	1,083,732	888,552
Unrealized currency exchange gains and losses	(1,680)	254,334
Inventory	96,501	14,649
Tax credit carryforwards	18,773	17,326
Undistributed foreign earnings	(21,304)	(21,822)
Depreciation and amortization	(2,228,606)	(875,623)
Valuation allowance	(1,078,354)	(901,875)
Net deferred tax (liability)	(1,568,245)	(196,459)
Change in net deferred tax (liability):
Provision for deferred tax	(91,865)	351,201	$ 51,500
Items of other comprehensive (loss) income	(64,342)	(98,810)
Acquisitions and other	(1,215,579)	880
Total change in net deferred tax	$ (1,371,786)	$ 253,271

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Deferred tax assets resulting from loss carryforwards	$ 1,083,732	$ 888,552
Loss carryforwards	4,350,000
Valuation allowance related to the loss carryforwards	1,059,000
Amount of valuation allowance relating to non-operating entity whose loss carryforward utilization is considered to be remote	$ 1,030,000
Operating loss carryforward minimum period before expiration	3 years
Operating loss carryforward maximum period before expiration	20 years
Valuation allowance	$ 20,000
Undistributed foreign earnings not permanently reinvested	754,000
Deferred tax liability on undistributed foreign earnings not permanently reinvested	13,000
Undistributed distributed foreign earnings	1,130,000
Deferred tax liability on undistributed foreign earnings not permanently reinvested in their subsidiaries	8,000
Unrecognized tax benefits that would impact effective tax rate if recognized	114,000	91,000	$ 101,000
Accrued interest related to the gross unrecognized tax benefits excluded from the unrecognized tax benefits	21,000	18,000	18,000
Accrued penalties related to gross unrecognized tax benefits	2,000	$ 0	$ 0
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, 2023	Jun. 30, 2022	Jun. 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance July 1	$ 90,669	$ 100,759	$ 86,277
Additions for tax positions related to current year	9,389	7,039	10,145
Additions for tax positions of prior years	6,171	1,415	10,320
Additions for acquisitions	25,957		2,376
Reductions for tax positions of prior years	(3,063)	(140)	(1,996)
Reductions for settlements	(6,923)	(3,127)	(7,165)
Reductions for expiration of statute of limitations	(11,199)	(6,647)	(2,252)
Effect of foreign currency translation - increase	2,502		3,054
Effect of foreign currency translation - decrease		(8,630)
Balance June 30	$ 113,503	$ 90,669	$ 100,759

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	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021
Numerator:
Net income attributable to common shareholders, basic	$ 2,082,936	$ 1,315,605		$ 1,746,100
Net income attributable to common shareholders, diluted	$ 2,082,936	$ 1,315,605		$ 1,746,100
Denominator:
Basic - weighted-average common shares (in shares)	128,367,842	128,539,387		128,999,879
Increase in weighted-average common shares from dilutive effect of equity-based awards (in shares)	1,454,243	1,816,556		1,834,599
Diluted - weighted-average common shares, assuming exercise of stock-based awards (in shares)	129,822,085	130,355,943		130,834,478
Basic earnings per share (in USD per share)	$ 16.23	$ 10.24	[1]	$ 13.54	[1]
Diluted earnings per share (in USD per share)	$ 16.04	$ 10.09	[1]	$ 13.35	[1]
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Number of common shares subject to stock-based awards that were excluded from the computation of diluted earnings per share	1	0.4	0.4

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Inventory Disclosure [Abstract]
Finished products	$ 794,128	$ 811,702
Work in process	1,488,665	1,128,501
Raw materials	625,086	274,350
Total	$ 2,907,879	$ 2,214,553

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in carrying amount of goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Goodwill [Roll Forward]
Beginning balance	$ 7,740,082	$ 8,059,687
Acquisitions	2,789,080
Divestitures	(3,296)	(164)
Goodwill reclassified to held for sale		(48,242)
Foreign currency translation	102,728	(271,199)
Ending balance	10,628,594	7,740,082
Diversified Industrial Segment
Goodwill [Roll Forward]
Beginning balance	7,185,981	7,457,309
Acquisitions	452,008
Divestitures	(1,064)	(164)
Goodwill reclassified to held for sale		0
Foreign currency translation	45,830	(271,164)
Ending balance	7,682,755	7,185,981
Aerospace Systems Segment
Goodwill [Roll Forward]
Beginning balance	554,101	602,378
Acquisitions	2,337,072
Divestitures	(2,232)	0
Goodwill reclassified to held for sale		(48,242)
Foreign currency translation	56,898	(35)
Ending balance	$ 2,945,839	$ 554,101

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment loss recognized	$ 0	$ 0	$ 0
Intangible amortization expense	501,000,000	$ 314,000,000	$ 325,000,000
Estimated amortization expense, year ending June 30, 2024	550,000,000
Estimated amortization expense, year ending June 30, 2025	528,000,000
Estimated amortization expense, year ending June 30, 2026	523,000,000
Estimated amortization expense, year ending June 30, 2027	518,000,000
Estimated amortization expense, year ending June 30, 2028	$ 508,000,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Gross carrying value and accumulated amortization of intangible assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 11,285,588	$ 5,453,637
Accumulated Amortization	2,834,974	2,317,820
Patents and technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,128,847	990,775
Accumulated Amortization	352,040	259,587
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,047,678	727,820
Accumulated Amortization	390,737	339,244
Customer relationships and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	8,109,063	3,735,042
Accumulated Amortization	$ 2,092,197	$ 1,718,989

Financing Arrangements (Details

Financing Arrangements (Details)	12 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Line of Credit Facility [Line Items]
Commercial paper notes outstanding	$ 1,800,000,000	$ 1,400,000,000
Debt to debt-shareholders' equity ratio	0.55
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	3,000,000,000
Line of Credit | Amended And Extended Multi-Currency Credit Agreement
Line of Credit Facility [Line Items]
Line of credit	3,000,000,000
Line of credit available	$ 1,200,000,000
Extension option, term	1 year
Line of Credit
Line of Credit Facility [Line Items]
Weighted-average interest rate of notes payable	5.60%	0.70%

Debt - Schedule of long-term de

Debt - Schedule of long-term debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Long-term debt	$ 10,770,655	$ 10,058,105
Other long-term debt	106,598	11,127
Deferred debt issuance costs	(74,713)	(86,972)
Less: Long-term debt payable within one year	1,974,371	302,280
Long-term debt, net	8,796,284	9,755,825
Medium-term Notes | Fixed rate medium-term notes, 3.30% to 6.25%, due 2025 - 2045
Debt Instrument [Line Items]
Long-term debt	$ 1,825,000	2,125,000
Medium-term Notes | Fixed rate medium-term notes, 3.30% to 6.25%, due 2025 - 2045 | Minimum
Debt Instrument [Line Items]
Interest rate	3.30%
Medium-term Notes | Fixed rate medium-term notes, 3.30% to 6.25%, due 2025 - 2045 | Maximum
Debt Instrument [Line Items]
Interest rate	6.25%
Senior Notes | Senior Notes, 2.70% to 4.50%, due 2024 - 2049
Debt Instrument [Line Items]
Long-term debt	$ 7,275,000	7,275,000
Senior Notes | Senior Notes, 2.70% to 4.50%, due 2024 - 2049 | Minimum
Debt Instrument [Line Items]
Interest rate	2.70%
Senior Notes | Senior Notes, 2.70% to 4.50%, due 2024 - 2049 | Maximum
Debt Instrument [Line Items]
Interest rate	4.50%
Senior Notes | Euro Senior Notes, 1.125%, due 2025
Debt Instrument [Line Items]
Interest rate	1.125%
Long-term debt	$ 763,770	733,950
Loans Payable | Term Loan Facility, due 2026
Debt Instrument [Line Items]
Long-term debt	$ 875,000	$ 0

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Thousands, £ in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jul. 31, 2022 GBP (£)	Aug. 02, 2021 GBP (£)
Debt Instrument [Line Items]
Proceeds from long-term borrowings		$ 2,023,400	$ 3,598,056	$ 1,213
Payments for long-term borrowings		2,340,566	$ 18,737	$ 1,211,748
Long-term debt payable in 2024		1,980,000
Long-term debt payable in 2025		1,268,000
Long-term debt payable in 2026		879,000
Long-term debt payable in 2027		704,000
Long-term debt payable in 2028		1,204,000
Bridge Credit Agreement | Line of Credit | Bridge Loan
Debt Instrument [Line Items]
Line of credit | £					£ 0	£ 6,500
Loans Payable | Term Loan Facility | Line of Credit
Debt Instrument [Line Items]
Proceeds from long-term borrowings	$ 2,000,000
Payments for long-term borrowings		$ 1,100,000
Loans Payable | Term Loan Facility | Line of Credit | Debt Instrument, Periodic Payment, Interest, Period One
Debt Instrument [Line Items]
Periodic payment, interest, period	1 month
Loans Payable | Term Loan Facility | Line of Credit | Debt Instrument, Periodic Payment, Interest, Period Two
Debt Instrument [Line Items]
Periodic payment, interest, period	3 months
Loans Payable | Term Loan Facility | Line of Credit | Debt Instrument, Periodic Payment, Interest, Period Three
Debt Instrument [Line Items]
Periodic payment, interest, period	6 months
Loans Payable | Term Loan Facility | Line of Credit | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.225%

Leases - Lease expense and supp

Leases - Lease expense and supplemental cash flow information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease expense	$ 60,411	$ 46,026	$ 48,171
Finance lease cost:
Amortization of lease assets	5,604	1,861	1,576
Interest on lease liabilities	4,383	390	455
Short-term lease cost	7,577	7,041	7,674
Variable lease cost	5,747	5,849	5,835
Total lease cost	83,722	61,167	63,711
Operating cash outflows - payments on operating leases	57,717	45,371	47,080
Operating cash outflows - interest payments on finance leases	4,383	390	455
Financing cash outflows - payments on finance lease obligations	5,141	1,992	1,713
Right-of-use assets obtained in exchange for operating lease obligations	45,365	50,925	41,637
Right-of-use assets obtained in exchange for finance lease obligations	$ 1,340	$ 0	$ 3,834

Leases - Supplemental balance s

Leases - Supplemental balance sheet information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Operating Leases
Operating lease right-of-use assets (included within Investments and other assets)	$ 232,733	$ 133,412
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)	$ 50,523	$ 36,023
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current
Long-term operating lease liabilities (included within Other liabilities)	$ 187,445	$ 100,337
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total operating lease liabilities	$ 237,968	$ 136,360
Finance Lease, Assets And Liabilities, Lessee [Abstract]
Accumulated depreciation	$ (8,196)	$ (3,836)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Net property, plant and equipment	$ 104,827	$ 10,453
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current
Current portion of long-term debt (included within Other accrued liabilities)	$ 4,198	$ 1,691
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Long-term debt (included within Other liabilities)	$ 100,889	$ 8,575
Total finance lease liabilities	$ 105,087	$ 10,266
Weighted-average remaining lease term
Operating leases	6 years 10 months 24 days	5 years 7 months 6 days
Finance leases	20 years 9 months 18 days	15 years 8 months 12 days
Weighted-average discount rate
Operating leases	3.90%	1.60%
Finance leases	5.20%	3.30%
Land and buildings
Finance Lease, Assets And Liabilities, Lessee [Abstract]
Finance leases	$ 107,910	$ 9,223
Machinery and equipment
Finance Lease, Assets And Liabilities, Lessee [Abstract]
Finance leases	$ 5,113	$ 5,066

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Operating Leases
2024	$ 58,351
2025	49,196
2026	38,352
2027	28,590
2028	21,481
Thereafter	82,407
Total lease payments	278,377
Less imputed interest	40,409
Total lease liabilities	237,968	$ 136,360
Finance Leases
2024	9,483
2025	8,871
2026	8,792
2027	8,896
2028	8,936
Thereafter	128,519
Total lease payments	173,497
Less imputed interest	68,410
Total finance lease liabilities	$ 105,087	$ 10,266

Retirement Benefits - Net perio

Retirement Benefits - Net periodic pension cost recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
One-time charges related to divestitures	$ (2,480)	$ 0	$ 0
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	57,418	76,638	84,188
Interest cost	225,468	110,250	102,475
Expected return on plan assets	(311,145)	(267,888)	(267,579)
Amortization of prior service cost	931	4,103	5,325
Amortization of unrecognized actuarial loss	17,178	157,288	207,897
Amortization of transition obligation	0	8	18
Net periodic benefit cost	$ (12,630)	$ 80,399	$ 132,324

Retirement Benefits - Summary o

Retirement Benefits - Summary of defined benefit pension plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Change in plan assets
Fair value of plan assets at beginning of year	$ 4,362,153
Fair value of plan assets at end of year	5,455,294	$ 4,362,153
Amounts recognized on the Consolidated Balance Sheet
Pensions and other postretirement benefits	(551,510)	(639,939)
Pension Plan
Change in benefit obligation
Benefit obligation at beginning of year	4,959,319	6,323,003
Service cost	57,418	76,638	$ 84,188
Interest cost	225,468	110,250	102,475
Acquisition	1,181,139	0
Plan amendments	2,521	(5,691)
Divestiture	(1,779)	0
Actuarial gain	(349,476)	(1,097,053)
Benefits paid	(312,758)	(256,868)
Foreign currency translation and other	73,839	(190,960)
Benefit obligation at end of year	5,835,691	4,959,319	6,323,003
Change in plan assets
Fair value of plan assets at beginning of year	4,362,153	5,305,577
Actual gain (loss) on plan assets	31,399	(605,642)
Acquisition	1,140,707	0
Employer contributions	153,038	96,717
Benefits paid	(312,758)	(256,868)
Foreign currency translation and other	80,756	(177,631)
Fair value of plan assets at end of year	5,455,295	4,362,153	$ 5,305,577
Funded status	(380,396)	(597,166)
Amounts recognized on the Consolidated Balance Sheet
Investments and other assets	145,809	103,632
Other accrued liabilities	(57,783)	(19,307)
Pensions and other postretirement benefits	(468,422)	(681,491)
Net amount recognized	(380,396)	(597,166)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial loss	593,937	672,775
Prior service cost	6,489	4,901
Net amount recognized	$ 600,426	$ 677,676

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Thousands				12 Months Ended
	Jan. 01, 2022	Dec. 31, 2021	Jan. 01, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Required cash balance				$ 49,000
Number of shares invested by employees in company stock				1,115,612
Defined contribution plan, annual contributions per employee not grandfathered			3%
Defined contribution plan expense recognized				$ 63,000	$ 57,000	$ 42,000
Company matching contributions				104,237	87,554	66,249
Meggitt plc
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan expense recognized				11,000
Company matching contributions				$ 9,000
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				65%
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Maximum percentage of employer 401K matching contribution	5%	4%
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
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				20%
Investments valued using a net asset value per share, redemption restriction, frequency period				6 months
Equity securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted-average target asset allocation				39%
Debt securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted-average target asset allocation				45%
Other investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted-average target asset allocation				16%
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				$ 519,000	327,000
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated benefit obligation for all defined benefit plans				5,700,000	4,800,000
Expected cash contributions to defined benefit pension plans in next fiscal year				171,000
Estimated future benefit payments in the year ending June 30, 2024				413,000
Estimated future benefit payments in the year ending June 30, 2025				413,000
Estimated future benefit payments in the year ending June 30, 2026				380,000
Estimated future benefit payments in the year ending June 30, 2027				387,000
Estimated future benefit payments in the year ending June 30, 2028				388,000
Estimated future benefit payments in the aggregate for the five years ending June 30, 2029 through June 30, 2033				2,000,000
Expense related to other postretirement benefits				$ (12,630)	$ 80,399	132,324
Pension Plan | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate				4.88%	4.36%
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, 2024				$ 8,000
Estimated future benefit payments in the year ending June 30, 2025				7,000
Estimated future benefit payments in the year ending June 30, 2026				7,000
Estimated future benefit payments in the year ending June 30, 2027				7,000
Estimated future benefit payments in the year ending June 30, 2028				7,000
Estimated future benefit payments in the aggregate for the five years ending June 30, 2029 through June 30, 2033				29,000
Expense related to other postretirement benefits				$ 2,000	$ 1,000	1,000
Discount rate				4.86%	4.26%
Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation (income) expense				$ 20,000	$ (21,000)	$ 45,000

Retirement Benefits - Plan with

Retirement Benefits - Plan with accumulated benefit obligation in excess of plan assets (Details) - Pension Plan - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 4,352,952	$ 4,284,601
Fair value of plan assets	$ 3,955,284	$ 3,742,513

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, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 4,545,650	$ 4,483,486
Fair value of plan assets	$ 4,019,445	$ 3,782,688

Retirement Benefits - Assumptio

Retirement Benefits - Assumptions used to measure periodic benefit cost (Details) - Pension Plan	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
United States
Assumptions used to measure net periodic benefit cost
Discount rate	4.36%	2.55%	2.36%
Average increase in compensation	3.35%	3.05%	2.98%
Expected return on plan assets	6.50%	6.50%	6.75%
Minimum | Foreign Plan
Assumptions used to measure net periodic benefit cost
Discount rate	0.60%	0.25%	0.20%
Average increase in compensation	1.75%	1.75%	1.75%
Expected return on plan assets	1%	1%	1%
Maximum | Foreign Plan
Assumptions used to measure net periodic benefit cost
Discount rate	5.06%	2.95%	3.03%
Average increase in compensation	4%	4.50%	4.50%
Expected return on plan assets	5.10%	4.50%	5.40%

Retirement Benefits - Assumpt_2

Retirement Benefits - Assumptions used to measure benefit obligations (Details) - Pension Plan	Jun. 30, 2023	Jun. 30, 2022
United States
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.88%	4.36%
Average increase in compensation	3.81%	3.81%
Minimum | Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.90%	0.60%
Average increase in compensation	2%	1.75%
Maximum | Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.20%	5.06%
Average increase in compensation	4.40%	4%

Retirement Benefits - Weighted-

Retirement Benefits - Weighted-average allocation of the majority of the assets related to defined benefit plans (Details)	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Weighted-average allocation of assets related to defined benefit plans	100%	100%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Weighted-average allocation of assets related to defined benefit plans	30%	31%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Weighted-average allocation of assets related to defined benefit plans	45%	43%
Other investments
Defined Benefit Plan Disclosure [Line Items]
Weighted-average allocation of assets related to defined benefit plans	25%	26%

Retirement Benefits - Fair valu

Retirement Benefits - Fair values of pension plan assets by asset class (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	$ 5,455,294	$ 4,362,153
Fair Value, Inputs, Level 1, 2 and 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	341,812	201,053
Fair Value, Inputs, Level 1, 2 and 3 | Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	538,118	327,122
Fair Value, Inputs, Level 1, 2 and 3 | Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	152,354	8,700
Fair Value, Inputs, Level 1, 2 and 3 | Fixed income securities, Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	464,056	380,694
Fair Value, Inputs, Level 1, 2 and 3 | Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	610,326	87,650
Fair Value, Inputs, Level 1, 2 and 3 | Mutual funds, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	11,406	9,085
Fair Value, Inputs, Level 1, 2 and 3 | Mutual funds, Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	357	9,679
Fair Value, Inputs, Level 1, 2 and 3 | Miscellaneous
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	308,610	206,850
Quoted Prices In Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	1,634,467	601,712
Quoted Prices In Active Markets (Level 1) | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	333,978	190,616
Quoted Prices In Active Markets (Level 1) | Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	523,649	327,122
Quoted Prices In Active Markets (Level 1) | Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	76,173	8,700
Quoted Prices In Active Markets (Level 1) | Fixed income securities, Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	118,536	1,309
Quoted Prices In Active Markets (Level 1) | Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	570,368	55,201
Quoted Prices In Active Markets (Level 1) | Mutual funds, Equity funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	11,406	9,085
Quoted Prices In Active Markets (Level 1) | Mutual funds, Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	357	9,679
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	792,572	629,121
Significant Other Observable Inputs (Level 2) | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	7,834	10,437
Significant Other Observable Inputs (Level 2) | Equity securities, U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	14,469	0
Significant Other Observable Inputs (Level 2) | Equity securities, Non-U.S. based companies
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	76,181	0
Significant Other Observable Inputs (Level 2) | Fixed income securities, Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	345,520	379,385
Significant Other Observable Inputs (Level 2) | Fixed income securities, Government issued securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	39,958	32,449
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	308,610	206,850
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	264,346	279,849
Measured at Net Asset Value | Common/Collective trusts measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	2,626,832	2,718,445
Measured at Net Asset Value | Limited Partnerships measured at net asset value
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	$ 137,077	$ 133,026

Retirement Benefits - Employee

Retirement Benefits - Employee stock ownership plan (ESOP) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Retirement Benefits [Abstract]
Shares held by ESOP (in shares)	3,779,985	4,125,214	4,497,902
Company matching contributions	$ 104,237	$ 87,554	$ 66,249

Retirement Benefits - Summary_2

Retirement Benefits - Summary of other postretirement benefit plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Amounts recognized on the Consolidated Balance Sheet
Pensions and other postretirement benefits	$ (551,510)	$ (639,939)
Other Postretirement Benefits Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	48,876	63,739
Service cost	330	206
Interest cost	3,004	982
Acquisition	39,112	0
Actuarial gain	(4,403)	(11,220)
Benefits paid	(8,352)	(4,831)
Benefit obligation at end of year	78,567	48,876
Funded status	(78,567)	(48,876)
Amounts recognized on the Consolidated Balance Sheet
Other accrued liabilities	(7,831)	(4,971)
Pensions and other postretirement benefits	(70,736)	(43,905)
Net amount recognized	(78,567)	(48,876)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial gain	$ (17,952)	$ (15,154)

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, 2023	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.26%	2.36%	2.14%
Ultimate medical cost trend rate	4.50%	4.50%	4.50%
Medical cost trend rate decreases to ultimate in year	2031	2029	2028
Defined benefit plan, participant age range, Pre-65
Defined Benefit Plan Disclosure [Line Items]
Current medical cost trend rate	6.73%	6.45%	6.73%
Defined benefit plan, participant age range, Post-65
Defined Benefit Plan Disclosure [Line Items]
Current medical cost trend rate	6.81%	6.72%	7.03%

Equity - Changes in accumulated

Equity - Changes in accumulated other comprehensive (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 8,859,920	$ 8,413,670
Ending balance	10,338,279	8,859,920
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,543,198)	(1,566,727)
Other comprehensive (loss) income before reclassifications	240,199	(105,752)
Amounts reclassified from accumulated other comprehensive (loss)	10,127	129,281
Ending balance	(1,292,872)	(1,543,198)
Foreign Currency Translation Adjustment and Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,149,071)	(865,865)
Other comprehensive (loss) income before reclassifications	187,027	(290,853)
Amounts reclassified from accumulated other comprehensive (loss)	0	7,647
Ending balance	(962,044)	(1,149,071)
Retirement Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(394,127)	(700,862)
Other comprehensive (loss) income before reclassifications	53,172	185,101
Amounts reclassified from accumulated other comprehensive (loss)	10,127	121,634
Ending balance	$ (330,828)	$ (394,127)

Equity - Significant reclassifi

Equity - Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021	[1]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other expense (income), net	$ (184,167)	$ (944,881)	[1]	$ 27,950
Income before income taxes	2,679,664	1,614,226	[1]	2,246,957
Tax benefit	(596,128)	(298,040)	[1]	(500,096)
Net income	2,083,536	1,316,186	[1]	$ 1,746,861
Reclassification out of Accumulated Other Comprehensive Income | Retirement benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes	(14,024)	(161,023)
Tax benefit	3,897	39,389
Net income	(10,127)	(121,634)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service cost and initial net obligation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other expense (income), net	(931)	(4,111)
Reclassification out of Accumulated Other Comprehensive Income | Recognized actuarial loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other expense (income), net	(15,573)	$ (156,912)
Reclassification out of Accumulated Other Comprehensive Income | Divestiture activity
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other expense (income), net	$ 2,480
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Equity - Share repurchases (Det

Equity - Share repurchases (Details) - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Oct. 22, 2014
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)	663,599	1,281,818	331,259
Average price per share including commissions (in USD per share)	$ 301.39	$ 296.71	$ 301.88
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, 2023	Jun. 30, 2022	Jun. 30, 2021	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	6,400,000
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 51,000	$ 37,000	$ 35,000
Expense for nonvested awards not yet recognized	$ 19,000
Expense for nonvested awards not yet recognized, weighted-average period for recognition	23 months
Total fair value of shares vested	$ 34,000	29,000	25,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock-based compensation expense	$ 27,000	26,000	26,000
Expense for nonvested awards not yet recognized	$ 18,000
Expense for nonvested awards not yet recognized, weighted-average period for recognition	21 months
Total fair value of shares vested	$ 30,000	26,000	21,000
Share based payment arrangement, tax benefit (cost)	$ 2,000	4,000	1,000
Long Term Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock-based compensation expense	$ 63,000	72,000	59,000
Share based payment arrangement, tax benefit (cost)	$ 4,000	5,000	2,000
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	$ 1,900	1,800	1,500
Expense for nonvested awards not yet recognized	$ 400
Expense for nonvested awards not yet recognized, weighted-average period for recognition	3 months
Share based payment arrangement, tax benefit (cost)	$ (20)	$ 200	$ 2,100

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, 2023	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3%	0.80%	0.40%
Expected life of award	5 years 7 months 6 days	5 years 7 months 6 days	5 years 4 months 24 days
Expected dividend yield of stock	1.80%	1.90%	2%
Expected volatility of stock	37.10%	35.70%	35.20%
Weighted-average fair value (in USD per share)	$ 97.70	$ 81.71	$ 53.92

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, 2023 USD ($) $ / shares shares
Number of Shares
Beginning balance, outstanding (in shares) | shares	4,099,144
Granted (in shares) | shares	605,135
Exercised (in shares) | shares	(800,815)
Canceled (in shares) | shares	(30,035)
Ending balance, outstanding (in shares) | shares	3,873,429
Exercisable (in shares) | shares	2,737,336
Weighted-Average Exercise Price
Beginning balance, outstanding (in USD per share) | $ / shares	$ 172.27
Granted (in USD per share) | $ / shares	298.26
Exercised (in USD per share) | $ / shares	134.38
Canceled (in USD per share) | $ / shares	263.62
Ending balance, outstanding (in USD per share) | $ / shares	199.08
Exercisable (in USD per share) | $ / shares	$ 165.45
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Outstanding, weighted average remaining contractual term	6 years
Exercisable, weighted average remaining contractual term	5 years
Outstanding, aggregate intrinsic value | $	$ 739.7
Exercisable, aggregate intrinsic value | $	$ 614.8

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)	12 Months Ended
	Jun. 30, 2023 $ / shares shares
Number of Shares
Beginning balance, nonvested (in shares) | shares	1,212,497
Granted (in shares) | shares	605,135
Vested (in shares) | shares	(654,784)
Canceled (in shares) | shares	(26,755)
Ending balance, nonvested (in shares) | shares	1,136,093
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share) | $ / shares	$ 60.44
Granted (in USD per share) | $ / shares	97.36
Vested (in USD per share) | $ / shares	52.13
Canceled (in USD per share) | $ / shares	83.35
Ending balance, nonvested (in USD per share) | $ / shares	$ 84.36

Stock Incentive Plans - Informa

Stock Incentive Plans - Information related to stock appreciation rights awards exercised (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Net cash proceeds	$ 3,476	$ 2,831	$ 4,684
Stock Appreciation Rights (SARs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Net cash proceeds	3,476	2,831	4,684
Intrinsic value	158,452	97,002	225,025
Income tax benefit	$ 26,854	$ 15,845	$ 37,437
Number of shares surrendered	152,835	98,673	316,330

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, 2023 $ / shares shares
Number of Shares
Beginning balance, nonvested (in shares) | shares	277,902
Granted (in shares) | shares	93,336
Vested (in shares) | shares	(155,718)
Canceled (in shares) | shares	(9,999)
Ending balance, nonvested (in shares) | shares	205,521
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share) | $ / shares	$ 224.40
Granted (in USD per share) | $ / shares	298.54
Vested (in USD per share) | $ / shares	194.46
Canceled (in USD per share) | $ / shares	262.95
Ending balance, nonvested (in USD per share) | $ / shares	$ 278.88
Director
Number of Shares
Beginning balance, nonvested (in shares) | shares	5,620
Granted (in shares) | shares	6,638
Vested (in shares) | shares	(5,650)
Canceled (in shares) | shares	(383)
Ending balance, nonvested (in shares) | shares	6,225
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share) | $ / shares	$ 297.89
Granted (in USD per share) | $ / shares	278.99
Vested (in USD per share) | $ / shares	297.89
Canceled (in USD per share) | $ / shares	278.90
Ending balance, nonvested (in USD per share) | $ / shares	$ 278.90

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, 2023	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued	204,175	251,783	210,864
Number of shares surrendered	102,120	124,007	105,402
Share value on date of issuance (in USD per share)	$ 311.65	$ 271.38	$ 317.60
Total value of shares issued	$ 63,631	$ 68,329	$ 66,970

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, 2023 $ / shares shares
Number of Shares
Beginning balance, nonvested (in shares) | shares	417,789
Granted (in shares) | shares	186,194
Vested (in shares) | shares	(199,143)
Canceled (in shares) | shares	(12,233)
Ending balance, nonvested (in shares) | shares	392,607
Weighted-Average Grant Date Fair Value
Beginning balance, nonvested (in USD per share) | $ / shares	$ 246.63
Granted (in USD per share) | $ / shares	301.64
Vested (in USD per share) | $ / shares	205.95
Canceled (in USD per share) | $ / shares	279.75
Ending balance, nonvested (in USD per share) | $ / shares	$ 292.32

Research and Development (Detai

Research and Development (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Research and Development [Abstract]
Research and development costs	$ 258	$ 191	$ 205
Costs incurred in connection with research and development contracts	$ 73	$ 74	$ 54

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, 2023	Jun. 30, 2022
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 10,845,359	$ 10,145,077
Estimated fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 10,221,563	$ 9,709,407

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) $ in Thousands, € in Millions, ¥ in Billions, £ in Billions	12 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 JPY (¥)	Sep. 30, 2022 GBP (£)	Jul. 31, 2022 USD ($)
Derivative [Line Items]
Cash collateral for derivative	$ 0	$ 250,000
Senior Notes | Senior Notes Due 2025
Derivative [Line Items]
Aggregate principal amount (in EUR) | €				€ 700
Deal-contingent forward contracts
Derivative [Line Items]
Notional amount of derivative | £						£ 6.4
Cash collateral for derivative		250,000					$ 250,000
Net gains (losses) relating to forward exchange contracts	$ (389,992)	$ (1,015,426)	$ 0
Cross-currency swap contracts, due November 2034
Derivative [Line Items]
Notional amount of derivative				69	¥ 2.1
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, 2023	Jun. 30, 2022
Derivatives, Fair Value [Line Items]
Derivative assets	$ 21,578	$ 42,771
Derivative liabilities		$ 1,022,655
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current
Cross-currency swap contracts
Derivatives, Fair Value [Line Items]
Derivative assets	$ 21,578	$ 21,444
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Investments and other assets	Investments and other assets
Forward exchange contracts
Derivatives, Fair Value [Line Items]
Derivative assets	$ 0	$ 20,976
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Non-trade and notes receivable	Non-trade and notes receivable
Derivative liabilities	$ 0	$ 5,651
Deal-contingent forward contracts
Derivatives, Fair Value [Line Items]
Derivative liabilities	0	1,015,426
Costless collar contracts
Derivatives, Fair Value [Line Items]
Derivative assets	$ 0	$ 351
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Non-trade and notes receivable	Non-trade and notes receivable
Derivative liabilities	$ 0	$ 1,578

Financial Instruments - Gain (l

Financial Instruments - Gain (losses) on derivative financial instruments recorded in consolidated statement if income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Deal-contingent forward contracts
Derivative [Line Items]
Net gains (losses) relating to forward exchange contracts	$ (389,992)	$ (1,015,426)	$ 0
Forward exchange contracts
Derivative [Line Items]
Net gains (losses) relating to forward exchange contracts	(7,259)	55,860	15,879
Costless collar contracts
Derivative [Line Items]
Net gains (losses) relating to forward exchange contracts	11,528	(4,364)	(2,092)
Cross-currency swap contracts
Derivative [Line Items]
Net gains (losses) relating to forward exchange contracts	$ (18,739)	$ 0	$ 0

Financial Instruments - Gain _2

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, 2023	Jun. 30, 2022
Cross-currency swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative and non-derivative instruments gain (loss) recognized in accumulated other comprehensive income (loss)	$ 451	$ 69,992
Foreign currency denominated debt
Derivative Instruments, Gain (Loss) [Line Items]
Derivative and non-derivative instruments gain (loss) recognized in accumulated other comprehensive income (loss)	$ (22,534)	$ 72,670

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, 2023	Jun. 30, 2022
Assets:
Derivatives	$ 21,578	$ 42,771
Equity securities		13,038
Liabilities:
Derivative Liability		1,022,655
Quoted Prices In Active Markets (Level 1)
Assets:
Derivatives	0	0
Equity securities		13,038
Liabilities:
Derivative Liability		0
Significant Other Observable Inputs (Level 2)
Assets:
Derivatives	21,578	42,771
Equity securities		0
Liabilities:
Derivative Liability		1,022,655
Significant Unobservable Inputs (Level 3)
Assets:
Derivatives	$ 0	0
Equity securities		0
Liabilities:
Derivative Liability		$ 0

Contingencies (Details)

Contingencies (Details) $ in Millions	12 Months Ended
	Jun. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Reserve for environmental matters	$ 149.4
Environmental Loss Contingency Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	environmental matters
Environmental Issue
Loss Contingencies [Line Items]
Largest range for any one site	$ 27.8
Environmental Issue | Minimum
Loss Contingencies [Line Items]
Estimated total liability for environmental sites	149.4
Environmental Issue | Maximum
Loss Contingencies [Line Items]
Estimated total liability for environmental sites	$ 251.5

Business Segment Information -

Business Segment Information - Narrative (Details)	12 Months Ended
	Jun. 30, 2023 country segment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Diversified Industrial | International
Segment Reporting Information [Line Items]
Number of countries operating in | country	41

Business Segment Information _2

Business Segment Information - Business Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2021
Segment Reporting Information [Line Items]
Net Sales	$ 19,065,194	$ 15,861,608	[1]	$ 14,347,640	[1]
Segment Operating Income	3,404,177	2,975,035		2,459,941
Corporate administration	3,354,103	2,504,061	[1]	2,383,407	[1]
Interest expense	573,894	255,252	[1]	250,036	[1]
Other expense (income)	150,619	1,105,557		(37,052)
Income before income taxes	2,679,664	1,614,226	[1]	2,246,957	[1]
Assets	29,964,472	25,943,943		20,341,200
Property Additions	380,747	230,044		209,957
Depreciation	317,416	257,314		269,943
Amortization	500,713	314,450		325,447
Long-Lived Assets	2,865,030	2,122,758		2,266,476
Investment in a joint venture	297,000	314,000
Disposal Group, Held-for-sale, Not Discontinued Operations | Aircraft Wheel and Brake Business
Segment Reporting Information [Line Items]
Aggregate carrying amount, net assets		66,000
Disposal Group, Held-for-sale, Not Discontinued Operations | Aircraft Wheel and Brake Business
Segment Reporting Information [Line Items]
Aggregate carrying amount, net assets		66,000
Operating Segments
Segment Reporting Information [Line Items]
Net Sales	19,065,194	15,861,608		14,347,640
Segment Operating Income	3,633,854	3,194,734		2,638,368
Corporate
Segment Reporting Information [Line Items]
Corporate administration	229,677	219,699		178,427
Assets	730,537	7,084,825		745,117
Property Additions	6,835	4,917		3,019
Depreciation	8,498	8,532		7,901
Diversified Industrial
Segment Reporting Information [Line Items]
Net Sales	14,705,693	13,342,046		11,960,159
Diversified Industrial | Operating Segments
Segment Reporting Information [Line Items]
Assets	15,572,849	15,838,512		16,518,688
Property Additions	292,456	197,675		186,233
Depreciation	204,632	219,206		229,891
Amortization	267,779	263,430		274,368
Aerospace Systems
Segment Reporting Information [Line Items]
Net Sales	4,359,501	2,519,562		2,387,481
Investment in a joint venture	216,000	211,000		219,000
Aerospace Systems | Operating Segments
Segment Reporting Information [Line Items]
Net Sales	4,359,501	2,519,562		2,387,481
Segment Operating Income	562,444	501,431		402,895
Assets	13,661,086	3,020,606		3,077,395
Property Additions	81,456	27,452		20,705
Depreciation	104,286	29,576		32,151
Amortization	232,934	51,020		51,079
North America
Segment Reporting Information [Line Items]
Net Sales	12,689,719	10,216,292		9,046,162
Long-Lived Assets	1,828,457	1,398,966		1,448,109
North America | Diversified Industrial | Operating Segments
Segment Reporting Information [Line Items]
Net Sales	8,916,194	7,703,150		6,676,449
Segment Operating Income	1,853,079	1,515,259		1,247,419
International
Segment Reporting Information [Line Items]
Net Sales	6,375,475	5,645,316		5,301,478
Long-Lived Assets	1,036,573	723,792		818,367
International | Diversified Industrial | Operating Segments
Segment Reporting Information [Line Items]
Net Sales	5,789,499	5,638,896		5,283,710
Segment Operating Income	$ 1,218,331	$ 1,178,044		$ 988,054
[1]Years ended June 30,2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 9,942	$ 12,078	$ 11,644
Additions Charged to Costs and Expenses	7,379	1,719	4,673
Other (Deductions)		(3,855)	(4,239)
Other Additions	15,129
Balance at End of Period	32,450	9,942	12,078
Deferred tax asset valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	901,875	865,764	771,430
Additions Charged to Costs and Expenses	163,178	36,111	94,781
Other (Deductions)			(447)
Other Additions	13,301	0
Balance at End of Period	$ 1,078,354	$ 901,875	$ 865,764