Parker-Hannifin (PH) 10-Q 3 May 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Mar. 31, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	128,540,990
Entity Central Index Key	0000076334
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 5,074,356	$ 5,061,665	$ 14,742,791	$ 13,969,251
Cost of sales	3,279,650	3,340,764	9,478,961	9,373,032
Selling, general and administrative expenses	816,337	868,393	2,496,830	2,519,163
Interest expense	123,732	151,993	387,229	416,718
Other income, net	(65,406)	(55,866)	(228,872)	(116,131)
Income before income taxes	920,043	756,381	2,608,643	1,776,469
Income taxes	193,309	165,421	548,780	402,011
Net income	726,734	590,960	2,059,863	1,374,458
Less: Noncontrolling interest in subsidiaries' earnings	160	71	611	478
Net income attributable to common shareholders	$ 726,574	$ 590,889	$ 2,059,252	$ 1,373,980
Earnings per share attributable to common shareholders:
Basic (in USD per share)	$ 5.65	$ 4.61	$ 16.03	$ 10.71
Diluted (in USD per share)	$ 5.56	$ 4.54	$ 15.82	$ 10.58

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 726,734	$ 590,960	$ 2,059,863	$ 1,374,458
Less: Noncontrolling interests in subsidiaries' earnings	160	71	611	478
Net income attributable to common shareholders	726,574	590,889	2,059,252	1,373,980
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustment	(168,919)	92,106	(119,216)	145,997
Retirement benefits plan activity	1,369	(1,364)	4,098	8,397
Other comprehensive (loss) income	(167,550)	90,742	(115,118)	154,394
Less: Other comprehensive (loss) income for noncontrolling interests	(392)	(299)	384	(176)
Other comprehensive (loss) income attributable to common shareholders	(167,158)	91,041	(115,502)	154,570
Total comprehensive income attributable to common shareholders	$ 559,416	$ 681,930	$ 1,943,750	$ 1,528,550

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 405,484	$ 475,182
Marketable securities and other investments	9,968	8,390
Trade accounts receivable, net	2,913,357	2,827,297
Non-trade and notes receivable	310,355	309,167
Inventories	2,966,336	2,907,879
Prepaid expenses and other	337,055	306,314
Total current assets	6,942,555	6,834,229
Property, plant and equipment	7,033,187	6,865,545
Less: Accumulated depreciation	4,162,268	4,000,515
Property, plant and equipment, net	2,870,919	2,865,030
Deferred income taxes	72,808	81,429
Investments and other assets	1,150,784	1,104,576
Intangible assets, net	7,961,957	8,450,614
Goodwill	10,579,307	10,628,594
Total assets	29,578,330	29,964,472
Current liabilities:
Notes payable and long-term debt payable within one year	4,080,759	3,763,175
Accounts payable, trade	1,964,211	2,050,934
Accrued payrolls and other compensation	514,021	651,319
Accrued domestic and foreign taxes	358,061	374,571
Other accrued liabilities	1,077,318	895,371
Total current liabilities	7,994,370	7,735,370
Long-term debt	7,290,208	8,796,284
Pensions and other postretirement benefits	455,254	551,510
Deferred income taxes	1,528,529	1,649,674
Other liabilities	709,548	893,355
Total liabilities	17,977,909	19,626,193
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 at March 31 and June 30	90,523	90,523
Additional capital	295,730	305,522
Retained earnings	18,529,559	17,041,502
Accumulated other comprehensive (loss)	(1,408,374)	(1,292,872)
Treasury shares, at cost; 52,505,138 shares at March 31 and 52,613,046 shares at June 30	(5,916,586)	(5,817,787)
Total shareholders’ equity	11,590,852	10,326,888
Noncontrolling interests	9,569	11,391
Total equity	11,600,421	10,338,279
Total liabilities and equity	$ 29,578,330	$ 29,964,472

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Mar. 31, 2024	Jun. 30, 2023
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)	52,505,138	52,613,046

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 2,059,863	$ 1,374,458
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	257,700	234,649
Amortization	438,763	374,417
Stock incentive plan compensation	128,682	117,536
Deferred income taxes	(37,682)	89,805
Foreign currency transaction (gain) loss	(27,034)	54,927
Loss (gain) on property, plant and equipment and intangible assets	5,847	(1,270)
Gain on sale of businesses	(23,667)	(366,345)
Gain on marketable securities	(55)	(1,391)
Gain on investments	(2,555)	(4,341)
Other	18,992	18,890
Changes in assets and liabilities, net of effect of acquisitions and divestitures:
Accounts receivable, net	(96,390)	(110,317)
Inventories	(69,426)	(27,491)
Prepaid expenses and other	(10,698)	(64,350)
Other assets	(67,354)	(194,069)
Accounts payable, trade	(78,452)	118,756
Accrued payrolls and other compensation	(134,459)	(19,357)
Accrued domestic and foreign taxes	(13,123)	36,208
Other accrued liabilities	23,380	141,891
Pensions and other postretirement benefits	(87,911)	46,681
Other liabilities	(137,344)	(24,393)
Net cash provided by operating activities	2,147,077	1,794,894
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions (net of cash of $89,704 in 2023)	0	(7,146,110)
Capital expenditures	(283,328)	(272,603)
Proceeds from sale of property, plant and equipment	8,905	11,821
Proceeds from sale of businesses	75,561	471,720
Purchases of marketable securities and other investments	(10,091)	(31,275)
Maturities and sales of marketable securities and other investments	8,664	35,075
Payments of deal-contingent forward contracts	0	(1,405,418)
Other	5,988	251,875
Net cash used in investing activities	(194,301)	(8,084,915)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of stock options	3,196	2,820
Payments for common shares	(240,885)	(202,731)
Acquisition of noncontrolling interests	(2,883)	0
(Payments for) proceeds from notes payable, net	(941,135)	258,458
Proceeds from long-term borrowings	12,173	2,011,949
Payments for long-term borrowings	(264,411)	(1,363,596)
Financing fees paid	0	(8,911)
Dividends paid	(571,583)	(513,232)
Net cash (used in) provided by financing activities	(2,005,528)	184,757
Effect of exchange rate changes on cash	(16,946)	(7,781)
Net decrease in cash, cash equivalents and restricted cash	(69,698)	(6,113,045)
Cash, cash equivalents and restricted cash at beginning of year	475,182	6,647,876
Cash and cash equivalents at end of period	$ 405,484	$ 534,831

Consolidated Statement of Cas_2

Consolidated Statement of Cash Flows (Parenthetical) $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($)
Statement of Cash Flows [Abstract]
Acquisitions, cash acquired	$ 89,704

Management representation

Management representation	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Management representation	As used in this Quarterly Report on Form 10-Q, unless the context otherwise requires, the terms "Company", "Parker", "we" or "us" refer to Parker-Hannifin Corporation and its subsidiaries. In the opinion of the management of the Company, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company's financial position as of March 31, 2024, the results of operations for the three and nine months ended March 31, 2024 and 2023 and cash flows for the nine months then ended. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s 2023 Annual Report on Form 10-K. Subsequent Events The Company has evaluated subsequent events that occurred through the date these financial statements were issued. No subsequent events have occurred that required adjustment to or disclosure in these financial statements.

New accounting pronouncements

New accounting pronouncements	9 Months Ended
	Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]
New accounting pronouncements	New accounting pronouncements In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures," which enhances the disclosure requirements for income taxes primarily related to the rate reconciliation and income taxes paid information. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendment should be applied on a prospective basis. Retrospective application is permitted. The Company is currently evaluating the impact this guidance will have on the Company's disclosures. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures," which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The amendments in this ASU are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact this guidance will have on the Company's disclosures. In September 2022, the FASB issued ASU 2022-04, "Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations," which requires a buyer in a supplier finance program to disclose information about the program’s nature, activity during the period, changes from period to period, and potential magnitude. To achieve that objective, the buyer should disclose qualitative and quantitative information about its supplier finance programs, including the outstanding amount under the program, the balance sheet presentation of the outstanding amount, and a rollforward of the obligations in the program. This ASU should be adopted retrospectively for each balance sheet period presented; however, the rollforward information should be provided prospectively. The amendments in this ASU are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Company adopted the guidance on July 1, 2023, except for the rollforward requirement, which becomes effective July 1, 2024. The adoption did not have a material impact on the Company's consolidated financial statements.

Revenue recognition

Revenue recognition	9 Months Ended
	Mar. 31, 2024
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. Diversified Industrial Segment revenues by technology platform: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Motion Systems $ 942,667 $ 1,017,974 $ 2,802,947 $ 2,837,403 Flow and Process Control 1,185,622 1,298,204 3,489,483 3,675,928 Filtration and Engineered Materials 1,537,354 1,550,927 4,506,214 4,378,931 Total $ 3,665,643 $ 3,867,105 $ 10,798,644 $ 10,892,262 Aerospace Systems Segment revenues by primary market: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Commercial original equipment manufacturer ("OEM") $ 471,870 $ 398,502 $ 1,315,254 $ 1,045,850 Commercial aftermarket 482,477 381,883 1,311,445 938,129 Military OEM 260,818 244,451 787,196 649,179 Military aftermarket 193,548 169,724 530,252 443,831 Total $ 1,408,713 $ 1,194,560 $ 3,944,147 $ 3,076,989 Total Company revenues by geographic region based on the Company's selling operation's location: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 North America $ 3,438,587 $ 3,364,157 $ 9,965,836 $ 9,278,815 Europe 1,026,035 1,054,157 2,915,334 2,750,159 Asia Pacific 554,991 590,017 1,693,316 1,777,550 Latin America 54,743 53,334 168,305 162,727 Total $ 5,074,356 $ 5,061,665 $ 14,742,791 $ 13,969,251 The majority of revenues from the Aerospace Systems Segment are 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: March 31, June 30, Contract assets, current (included within Prepaid expenses and other) $ 132,237 $ 123,705 Contract assets, noncurrent (included within Investments and other assets) 17,976 23,708 Total contract assets 150,213 147,413 Contract liabilities, current (included within Other accrued liabilities) (211,777) (244,799) Contract liabilities, noncurrent (included within Other liabilities) (72,306) (78,239) Total contract liabilities (284,083) (323,038) Net contract liabilities $ (133,870) $ (175,625) Net contract liabilities at March 31, 2024 decreased from the June 30, 2023 amount primarily due to timing differences between when revenue was recognized and the receipt of advance payments. During the nine months ended March 31, 2024, approximately $169 million of revenue was recognized that was included in the contract liabilities at June 30, 2023. Remaining performance obligations Our backlog represents written firm orders from a customer to deliver products and, in the case of blanket purchase orders, only includes the portion of the order for which a schedule or release has been agreed to with the customer. We believe our backlog represents our unsatisfied or partially unsatisfied performance obligations. Backlog at March 31, 2024 was $10.8 billion, of which approximately 76 percent is expected to be recognized as revenue within the next 12 months and the balance thereafter.

Acquisitions and divestitures

Acquisitions and divestitures	9 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisitions and divestitures	Acquisitions and divestitures Acquisitions On September 12, 2022, we completed the acquisition (the "Acquisition") of all the outstanding ordinary shares of Meggitt plc ("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 Acquisition date. The process of estimating the fair values of certain tangible assets, identifiable intangible assets and assumed liabilities requires the use of judgment in determining the appropriate assumptions and estimates. During the measurement period which ended in September 2023, adjustments did not have a material impact on the Consolidated Statement of Income. The following table presents the final estimated fair values of Meggitt's assets acquired and liabilities assumed on the Acquisition date. June 30, 2023 (previously reported) Measurement Period Adjustments September 12, 2022 (Final) Assets: Cash and cash equivalents $ 89,704 $ — $ 89,704 Accounts receivable 409,642 1,181 410,823 Inventories 739,304 13,580 752,884 Prepaid expenses and other 102,032 20,673 122,705 Property, plant and equipment 658,997 (1,428) 657,569 Deferred income taxes 34,198 (18,730) 15,468 Other assets 180,991 (647) 180,344 Intangible assets 5,679,200 (28,000) 5,651,200 Goodwill 2,789,080 10,891 2,799,971 Total assets acquired $ 10,683,148 $ (2,480) $ 10,680,668 Liabilities: Notes payable and long-term debt payable within one year $ 308,176 $ — $ 308,176 Accounts payable, trade 219,842 (705) 219,137 Accrued payrolls and other compensation 87,074 (1) 87,073 Accrued domestic and foreign taxes 21,068 (818) 20,250 Other accrued liabilities 322,040 158,137 480,177 Long-term debt 711,703 — 711,703 Pensions and other postretirement benefits 99,553 (2,028) 97,525 Deferred income taxes 1,259,417 (19,700) 1,239,717 Other liabilities 418,461 (137,365) 281,096 Total liabilities assumed 3,447,334 (2,480) 3,444,854 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 final acquisition valuation, we acquired $4.2 billion of customer-related intangible assets, $1.1 billion of technology and $303 million of trade names, each with weighted-average estimated useful lives of 21, 22, 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 following table presents unaudited pro forma information for the three and nine months ended March 31, 2023 as if the Acquisition had occurred on July 1, 2021. (Unaudited) Three Months Ended Nine Months Ended March 31, 2023 March 31, 2023 Net sales $ 5,061,665 $ 14,350,581 Net income attributable to common shareholders 612,049 1,244,907 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 of 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 nonrecurring 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 $(1) million and $197 million during the three and nine months ended March 31, 2023, 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 December 2023, we divested our Filter Resources business, which was part of the Diversified Industrial Segment, for proceeds of $37 million. The resulting pre-tax gain of $12 million is included in other income, net in the Consolidated Statement of Income. The operating results and net assets of the Filter Resources business were immaterial to the Company's consolidated results of operations and financial position. During September 2023, we divested the MicroStrain sensing systems business, which was part of the Diversified Industrial Segment, for proceeds of $37 million. The resulting pre-tax gain of $13 million is included in other income, net in the Consolidated Statement of Income. The operating results and net assets of the MicroStrain sensing systems business were immaterial to the Company's consolidated results of operations and financial position. 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 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.

Earnings per share

Earnings per share	9 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings per share	Earnings per share The following table presents a reconciliation of the numerator and denominator of basic and diluted earnings per share for the three and nine months ended March 31, 2024 and 2023. Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Numerator: Net income attributable to common shareholders $ 726,574 $ 590,889 $ 2,059,252 $ 1,373,980 Denominator: Basic - weighted average common shares 128,502,829 128,293,039 128,467,209 128,343,788 Increase in weighted average common shares from dilutive effect of equity-based awards 2,090,197 1,858,448 1,702,122 1,488,201 Diluted - weighted average common shares, assuming exercise of equity-based awards 130,593,026 130,151,487 130,169,331 129,831,989 Basic earnings per share $ 5.65 $ 4.61 $ 16.03 $ 10.71 Diluted earnings per share $ 5.56 $ 4.54 $ 15.82 $ 10.58 For the three months ended March 31, 2024 and 2023, 113,956 and 124,025 common shares subject to equity-based awards, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive. For the nine months ended March 31, 2024 and 2023, 400,506 and 1,011,006 common shares subject to equity-based awards, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.

Share repurchase program

Share repurchase program	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Share repurchase program	Share repurchase programThe 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 for 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 fiscal year. There is no expiration date for this program. Repurchases may be funded primarily from operating cash flows and commercial paper borrowings and the shares are initially held as treasury shares. During the three months ended March 31, 2024, we repurchased 97,900 shares at an average price, including commissions, of $502.22 per share. During the nine months ended March 31, 2024, we repurchased 343,539 shares at an average price, including commissions, of $434.21 per share.

Trade accounts receivable, net

Trade accounts receivable, net	9 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
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 $21 million and $32 million at March 31, 2024 and June 30, 2023, respectively. The non-trade and notes receivable caption in the Consolidated Balance Sheet is comprised of the following components: March 31, June 30, Notes receivable $ 87,475 $ 102,288 Accounts receivable, other 222,880 206,879 Total $ 310,355 $ 309,167

Non-trade and notes receivable

Non-trade and notes receivable	9 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Non-trade and notes receivable	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 $21 million and $32 million at March 31, 2024 and June 30, 2023, respectively. The non-trade and notes receivable caption in the Consolidated Balance Sheet is comprised of the following components: March 31, June 30, Notes receivable $ 87,475 $ 102,288 Accounts receivable, other 222,880 206,879 Total $ 310,355 $ 309,167

Inventories

Inventories	9 Months Ended
	Mar. 31, 2024
Inventory, Net [Abstract]
Inventories	Inventories The inventories caption in the Consolidated Balance Sheet is comprised of the following components: March 31, June 30, Finished products $ 821,422 $ 794,128 Work in process 1,526,113 1,488,665 Raw materials 618,801 625,086 Total $ 2,966,336 $ 2,907,879

Supply chain financing

Supply chain financing	9 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Supply chain financing	Supply chain financing We have supply chain financing ("SCF") programs with financial intermediaries, which provide certain suppliers the option to be paid by the financial intermediaries earlier than the due date on the applicable invoice. We are not a party to the agreements between the participating financial intermediaries and the suppliers in connection with the programs. The range of payment terms we negotiate with our suppliers is consistent, irrespective of whether a supplier participates in the SCF programs. We do not reimburse suppliers for any costs they incur for participation in the SCF programs and their participation is voluntary.

Business realignment and acquis

Business realignment and acquisition integration charges	9 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Business realignment and acquisition integration charges	Business realignment and acquisition integration charges We incurred business realignment and acquisition integration charges in the first nine months of fiscal 2024 and 2023, which 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. In fiscal 2024 and 2023, 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: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Diversified Industrial $ 6,953 $ 8,075 $ 32,877 $ 14,464 Aerospace Systems (12) 166 318 3,016 Other (income) expense, net 1,527 — 2,719 — Reductions to our workforce made in connection with such business realignment charges by business segment are as follows: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Diversified Industrial 143 282 658 499 Aerospace Systems (1) 14 1 30 The business realignment charges are presented in the Consolidated Statement of Income as follows: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Cost of sales $ 3,014 $ 5,033 $ 18,465 $ 10,746 Selling, general and administrative expenses 3,927 3,208 14,730 6,734 Other income, net 1,527 — 2,719 — During the first nine months of fiscal 2024, approximately $33 million in payments were made relating to business realignment charges. Remaining payments related to business realignment actions of approximately $15 million, a majority of which are expected to be paid by June 30, 2024, 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 actions described above, the timing and amount of which are not known at this time. We also incurred the following acquisition integration charges: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Diversified Industrial $ 1,292 $ 5,395 $ 3,302 $ 7,276 Aerospace Systems 11,964 25,849 26,374 69,377

Equity

Equity	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Equity	Equity Changes in equity for the three months ended March 31, 2024 and 2023 are as follows: Common Stock Additional Capital Retained Earnings Accumulated Other Comprehensive (Loss) Treasury Shares Noncontrolling Total Equity Balance at December 31, 2023 $ 90,523 $ 352,817 $ 17,993,453 $ (1,241,216) $ (5,892,999) $ 9,801 $ 11,312,379 Net income 726,574 160 726,734 Other comprehensive (loss) (167,158) (392) (167,550) Dividends paid ($1.48 per share) (190,468) (190,468) Stock incentive plan activity (57,087) 25,579 (31,508) Shares purchased at cost (49,166) (49,166) Balance at March 31, 2024 $ 90,523 $ 295,730 $ 18,529,559 $ (1,408,374) $ (5,916,586) $ 9,569 $ 11,600,421 Common Stock Additional Capital Retained Earnings Accumulated Other Comprehensive (Loss) Treasury Shares Noncontrolling Total Equity Balance at December 31, 2022 $ 90,523 $ 377,871 $ 16,102,883 $ (1,479,669) $ (5,769,228) $ 12,096 $ 9,334,476 Net income 590,889 71 590,960 Other comprehensive income (loss) 91,041 (299) 90,742 Dividends paid ($1.33 per share) (170,872) (170,872) Stock incentive plan activity (22,117) 19,976 (2,141) Shares purchased at cost (50,000) (50,000) Balance at March 31, 2023 $ 90,523 $ 355,754 $ 16,522,900 $ (1,388,628) $ (5,799,252) $ 11,868 $ 9,793,165 Changes in equity for the nine months ended March 31, 2024 and 2023 are as follows: Common Stock Additional Capital Retained Earnings Accumulated Other Comprehensive (Loss) Treasury Shares Noncontrolling Total Equity Balance at June 30, 2023 $ 90,523 $ 305,522 $ 17,041,502 $ (1,292,872) $ (5,817,787) $ 11,391 $ 10,338,279 Net income 2,059,252 611 2,059,863 Other comprehensive (loss) income (115,502) 384 (115,118) Dividends paid ($4.44 per share) (571,195) (388) (571,583) Stock incentive plan activity (10,207) 50,368 40,161 Acquisition activity 415 (2,429) (2,014) Shares purchased at cost (149,167) (149,167) Balance at March 31, 2024 $ 90,523 $ 295,730 $ 18,529,559 $ (1,408,374) $ (5,916,586) $ 9,569 $ 11,600,421 Common Stock Additional Capital Retained Earnings Accumulated Other Comprehensive (Loss) Treasury Shares Noncontrolling Total Equity Balance at June 30, 2022 $ 90,523 $ 327,307 $ 15,661,808 $ (1,543,198) $ (5,688,429) $ 11,909 $ 8,859,920 Net income 1,373,980 478 1,374,458 Other comprehensive income (loss) 154,570 (176) 154,394 Dividends paid ($3.99 per share) (512,888) (343) (513,231) Stock incentive plan activity 28,447 39,177 67,624 Shares purchased at cost (150,000) (150,000) Balance at March 31, 2023 $ 90,523 $ 355,754 $ 16,522,900 $ (1,388,628) $ (5,799,252) $ 11,868 $ 9,793,165 Changes in accumulated other comprehensive (loss) in shareholders' equity by component for the nine months ended March 31, 2024 and 2023 are as follows: Foreign Currency Translation Adjustment Retirement Benefit Plans Total Balance at June 30, 2023 $ (962,044) $ (330,828) $ (1,292,872) Other comprehensive income before reclassifications (119,600) — (119,600) Amounts reclassified from accumulated other comprehensive (loss) — 4,098 4,098 Balance at March 31, 2024 $ (1,081,644) $ (326,730) $ (1,408,374) Foreign Currency Translation Adjustment Retirement Benefit Plans Total Balance at June 30, 2022 $ (1,149,071) $ (394,127) $ (1,543,198) Other comprehensive income before reclassifications 146,173 — 146,173 Amounts reclassified from accumulated other comprehensive (loss) — 8,397 8,397 Balance at March 31, 2023 $ (1,002,898) $ (385,730) $ (1,388,628) Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity for the three and nine months ended March 31, 2024 and 2023 are as follows: Details about Accumulated Other Comprehensive (Loss) Components Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) Consolidated Statement of Income Classification Three Months Ended Nine Months Ended March 31, 2024 March 31, 2024 Retirement benefit plans Amortization of prior service cost and initial net obligation $ (319) $ (955) Other income, net Recognized actuarial loss (1,555) (4,656) Other income, net Total before tax (1,874) (5,611) Tax benefit 505 1,513 Net of tax $ (1,369) $ (4,098) Details about Accumulated Other Comprehensive (Loss) Components Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) Consolidated Statement of Income Classification Three Months Ended Nine Months Ended March 31, 2023 March 31, 2023 Retirement benefit plans Amortization of prior service cost and initial net obligation $ (227) $ (679) Other income, net Recognized actuarial gain (loss) 1,057 (11,422) Other income, net Divestiture activity 587 587 Other income, net Total before tax 1,417 (11,514) Tax benefit (53) 3,117 Net of tax $ 1,364 $ (8,397)

Goodwill and intangible assets

Goodwill and intangible assets	9 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets The changes in the carrying amount of goodwill for the nine months ended March 31, 2024 are as follows: Diversified Industrial Aerospace Total Balance at June 30, 2023 $ 7,682,755 $ 2,945,839 $ 10,628,594 Acquisition 1,113 9,778 10,891 Divestitures (25,387) — (25,387) Foreign currency translation (29,859) (4,932) (34,791) Balance at March 31, 2024 $ 7,628,622 $ 2,950,685 $ 10,579,307 Acquisition represents goodwill resulting from the purchase price allocation for the Acquisition during the measurement period. Divestitures represents goodwill associated with the sale of the businesses. Refer to Note 4 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. At December 31, 2023, the Company performed its fiscal 2024 annual goodwill impairment test, which indicated no impairment existed. Intangible assets are amortized using the straight-line method over their legal or estimated useful lives. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets: March 31, 2024 June 30, 2023 Gross Carrying Accumulated Gross Carrying Accumulated Patents and technology $ 2,117,511 $ 426,869 $ 2,128,847 $ 352,040 Trade names 1,042,091 428,015 1,047,678 390,737 Customer relationships and other 8,054,085 2,396,846 8,109,063 2,092,197 Total $ 11,213,687 $ 3,251,730 $ 11,285,588 $ 2,834,974 Total intangible asset amortization expense for the nine months ended March 31, 2024 and 2023 was $439 million and $374 million, respectively. The estimated amortization expense for the five years ending June 30, 2024 through 2028 is $580 million, $551 million, $546 million, $541 million and $531 million, respectively. Intangible assets are evaluated for impairment whenever events or circumstances indicate that the undiscounted net cash flows to be generated by their use over their expected useful lives and eventual disposition may be less than their net carrying value. No material intangible asset impairments occurred during the nine months ended March 31, 2024 and 2023.

Retirement benefits

Retirement benefits	9 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Retirement benefits	Retirement benefits Net pension (benefit) expense recognized included the following components: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Service cost $ 12,646 $ 14,599 $ 38,593 $ 42,534 Interest cost 67,644 59,021 202,077 166,456 Expected return on plan assets (88,381) (80,137) (264,862) (228,695) Amortization of prior service cost 319 227 955 679 Amortization of net actuarial loss (gain) 1,992 (657) 5,967 12,625 Net pension (benefit) expense $ (5,780) $ (6,947) $ (17,270) $ (6,401) We recognized $0.5 million and $0.5 million in expense related to other postretirement benefits during the three months ended March 31, 2024 and 2023, respectively. During the nine months ended March 31, 2024 and 2023, we recognized $1.6 million and $1.2 million, respectively, in expense related to other postretirement benefits. Components of retirement benefits expense, other than service cost, are included in other income, net in the Consolidated Statement of Income.

Debt

Debt	9 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Our debt portfolio includes a term loan facility (the “Term Loan Facility”). Interest rates reset every one three Commercial paper notes outstanding at March 31, 2024 and June 30, 2023 were $0.8 billion and $1.8 billion, respectively. Based on the Company’s rating level at March 31, 2024, the most restrictive financial covenant provides that the ratio of debt to debt-shareholders' equity cannot exceed 0.65 to 1.0. At March 31, 2024, our debt to debt-shareholders' equity ratio was 0.50 to 1.0. We are in compliance, and expect to remain in compliance, with all covenants set forth in the credit agreement and indentures governing certain debt securities.

Income taxes

Income taxes	9 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes We file income tax returns in the United States and in various foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world. We are open to assessment on our U.S. federal income tax returns by the Internal Revenue Service for fiscal years after 2013, and our state and local returns for fiscal years after 2016. We are also open to assessment for significant foreign jurisdictions for fiscal years after 2011. Unrecognized tax benefits reflect the difference between positions taken or expected to be taken on income tax returns and the amounts reflected in the financial statements. As of March 31, 2024, we had gross unrecognized tax benefits of $99 million, all of which, if recognized, would impact the effective tax rate. The accrued interest and accrued penalties related to the gross unrecognized tax benefits, excluded from the amount above, is $26 million and $2 million, respectively. It is reasonably possible that within the next 12 months the amount of gross unrecognized tax benefits could be reduced by up to approximately $40 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 gross unrecognized tax benefits within the next 12 months is expected to be insignificant.

Financial instruments

Financial instruments	9 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Financial instruments	Financial instruments Our 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. 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 are as follows: March 31, June 30, Carrying value of long-term debt $ 10,585,086 $ 10,845,359 Estimated fair value of long-term debt 10,086,962 10,221,563 The fair value of long-term debt is classified within level 2 of the fair value hierarchy. We utilize derivative and non-derivative financial instruments, including forward exchange contracts, cross-currency swap contracts and certain foreign currency denominated debt designated as net investment hedges, to manage foreign currency transaction and translation risk. The derivative financial instrument contracts are with major investment grade financial institutions, and we do not anticipate any material non-performance by any of the counterparties. We do not hold or issue derivative financial instruments for trading purposes. The Company’s €700 million aggregate principal amount of Senior Notes due 2025 have been designated as a hedge of the Company’s net investment in certain foreign subsidiaries. The translation of the Senior Notes due 2025 into U.S. dollars is recorded in accumulated other comprehensive (loss) and remains there until the underlying net investment is sold or substantially liquidated. Derivative financial instruments are recognized on the Consolidated Balance Sheet as either assets or liabilities and are measured at fair value. The location and fair value of derivative financial instruments reported in the Consolidated Balance Sheet are as follows: Balance Sheet Caption March 31, June 30, Net investment hedges Cross-currency swap contracts Investments and other assets $ 8,005 $ 21,578 Cross-currency swap contracts Other liabilities 1,584 — Other derivative contracts Forward exchange contracts Non-trade and notes receivable 6,269 — Forward exchange contracts Other accrued liabilities 24 — The cross-currency swap and forward exchange contracts are reflected on a gross basis in the Consolidated Balance Sheet. We have not entered into any master netting arrangements. The €69 million, €290 million and ¥2.1 billion of cross-currency swap contracts have been designated as hedging instruments. The forward exchange contracts have not been designated as hedging instruments and are considered to be economic hedges of forecasted transactions. The forward exchange, costless collar, and deal-contingent forward contracts, as well as cross-currency swap contracts acquired as part of the Acquisition, are adjusted to fair value by recording gains and losses in other income, net 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 of cross-currency swap contracts designated as 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 that were recorded in the Consolidated Statement of Income are as follows: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Deal-contingent forward contracts $ — $ — $ — $ (389,992) Forward exchange contracts 9,192 7,378 7,379 (7,425) Costless collar contracts — 4,308 — 9,632 Cross-currency swap contracts — (2,976) — (18,739) Gains (losses) on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) on the Consolidated Balance Sheet are as follows: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Cross-currency swap contracts $ 2,519 $ 16,085 $ (12,798) $ 17,196 Foreign currency denominated debt 13,237 (7,391) 6,536 (18,880) During the nine months ended March 31, 2024 and 2023, the periodic interest settlements related to the cross-currency swap contracts were not material. A summary of financial assets and liabilities that were measured at fair value on a recurring basis at March 31, 2024 and June 30, 2023 are as follows: Quoted Prices Significant Other Significant Fair In Active Observable Unobservable Value at Markets Inputs Inputs March 31, 2024 (Level 1) (Level 2) (Level 3) Assets: Derivatives $ 14,274 $ — $ 14,274 $ — Liabilities: Derivatives 1,608 — 1,608 — Quoted Prices Significant Other Significant Fair In Active Observable Unobservable Value at Markets Inputs Inputs June 30, 2023 (Level 1) (Level 2) (Level 3) Assets: Derivatives $ 21,578 $ — $ 21,578 $ — Derivatives consist of forward exchange 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 the fair value of the cross-currency swap contracts also utilizes a present value cash flow model. The primary objective for all derivatives is to manage foreign currency transaction and translation risk.

Business segment information

Business segment information	9 Months Ended
	Mar. 31, 2024
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. Diversified Industrial - This segment produces a broad range of motion-control and fluid systems and components used in all kinds of manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural, and military machinery and equipment and has significant international operations. Sales are made directly to major OEMs and through a broad distribution network to smaller OEMs and the aftermarket. Aerospace Systems - This segment designs and manufactures products and provides aftermarket support for commercial and regional transport, business jet, military, and helicopter markets. The Aerospace Systems Segment provides a full range of systems and components for hydraulic, pneumatic, fuel, oil, actuation, sensing, braking, thermal management, and electric power applications. Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Net sales Diversified Industrial: North America $ 2,231,478 $ 2,342,590 $ 6,571,587 $ 6,615,035 International 1,434,165 1,524,515 4,227,057 4,277,227 Aerospace Systems 1,408,713 1,194,560 3,944,147 3,076,989 Total net sales $ 5,074,356 $ 5,061,665 $ 14,742,791 $ 13,969,251 Segment operating income Diversified Industrial: North America $ 490,452 $ 489,349 $ 1,458,355 $ 1,362,256 International 309,759 329,498 900,944 908,958 Aerospace Systems 289,339 133,905 778,711 234,849 Total segment operating income 1,089,550 952,752 3,138,010 2,506,063 Corporate general and administrative expenses 56,782 45,780 162,340 146,341 Income before interest expense and other (income) expense, net 1,032,768 906,972 2,975,670 2,359,722 Interest expense 123,732 151,993 387,229 416,718 Other (income) expense, net (11,007) (1,402) (20,202) 166,535 Income before income taxes $ 920,043 $ 756,381 $ 2,608,643 $ 1,776,469

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
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

New accounting pronouncements (

New accounting pronouncements (Policies)	9 Months Ended
	Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]
New accounting pronouncements	In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures," which enhances the disclosure requirements for income taxes primarily related to the rate reconciliation and income taxes paid information. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendment should be applied on a prospective basis. Retrospective application is permitted. The Company is currently evaluating the impact this guidance will have on the Company's disclosures. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures," which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The amendments in this ASU are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact this guidance will have on the Company's disclosures. In September 2022, the FASB issued ASU 2022-04, "Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations," which requires a buyer in a supplier finance program to disclose information about the program’s nature, activity during the period, changes from period to period, and potential magnitude. To achieve that objective, the buyer should disclose qualitative and quantitative information about its supplier finance programs, including the outstanding amount under the program, the balance sheet presentation of the outstanding amount, and a rollforward of the obligations in the program. This ASU should be adopted retrospectively for each balance sheet period presented; however, the rollforward information should be provided prospectively. The amendments in this ASU are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Company adopted the guidance on July 1, 2023, except for the rollforward requirement, which becomes effective July 1, 2024. The adoption did not have a material impact on the Company's consolidated financial statements.
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. 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. Remaining performance obligations

Revenue recognition (Tables)

Revenue recognition (Tables)	9 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Diversified Industrial Segment revenues by technology platform: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Motion Systems $ 942,667 $ 1,017,974 $ 2,802,947 $ 2,837,403 Flow and Process Control 1,185,622 1,298,204 3,489,483 3,675,928 Filtration and Engineered Materials 1,537,354 1,550,927 4,506,214 4,378,931 Total $ 3,665,643 $ 3,867,105 $ 10,798,644 $ 10,892,262 Aerospace Systems Segment revenues by primary market: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Commercial original equipment manufacturer ("OEM") $ 471,870 $ 398,502 $ 1,315,254 $ 1,045,850 Commercial aftermarket 482,477 381,883 1,311,445 938,129 Military OEM 260,818 244,451 787,196 649,179 Military aftermarket 193,548 169,724 530,252 443,831 Total $ 1,408,713 $ 1,194,560 $ 3,944,147 $ 3,076,989 Total Company revenues by geographic region based on the Company's selling operation's location: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 North America $ 3,438,587 $ 3,364,157 $ 9,965,836 $ 9,278,815 Europe 1,026,035 1,054,157 2,915,334 2,750,159 Asia Pacific 554,991 590,017 1,693,316 1,777,550 Latin America 54,743 53,334 168,305 162,727 Total $ 5,074,356 $ 5,061,665 $ 14,742,791 $ 13,969,251
Contract assets and liabilities	Total contract assets and contract liabilities are as follows: March 31, June 30, Contract assets, current (included within Prepaid expenses and other) $ 132,237 $ 123,705 Contract assets, noncurrent (included within Investments and other assets) 17,976 23,708 Total contract assets 150,213 147,413 Contract liabilities, current (included within Other accrued liabilities) (211,777) (244,799) Contract liabilities, noncurrent (included within Other liabilities) (72,306) (78,239) Total contract liabilities (284,083) (323,038) Net contract liabilities $ (133,870) $ (175,625)

Acquisitions and divestitures (

Acquisitions and divestitures (Tables)	9 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Schedule of preliminary estimated fair values of assets acquired and liabilities assumed on the acquisition date	The following table presents the final estimated fair values of Meggitt's assets acquired and liabilities assumed on the Acquisition date. June 30, 2023 (previously reported) Measurement Period Adjustments September 12, 2022 (Final) Assets: Cash and cash equivalents $ 89,704 $ — $ 89,704 Accounts receivable 409,642 1,181 410,823 Inventories 739,304 13,580 752,884 Prepaid expenses and other 102,032 20,673 122,705 Property, plant and equipment 658,997 (1,428) 657,569 Deferred income taxes 34,198 (18,730) 15,468 Other assets 180,991 (647) 180,344 Intangible assets 5,679,200 (28,000) 5,651,200 Goodwill 2,789,080 10,891 2,799,971 Total assets acquired $ 10,683,148 $ (2,480) $ 10,680,668 Liabilities: Notes payable and long-term debt payable within one year $ 308,176 $ — $ 308,176 Accounts payable, trade 219,842 (705) 219,137 Accrued payrolls and other compensation 87,074 (1) 87,073 Accrued domestic and foreign taxes 21,068 (818) 20,250 Other accrued liabilities 322,040 158,137 480,177 Long-term debt 711,703 — 711,703 Pensions and other postretirement benefits 99,553 (2,028) 97,525 Deferred income taxes 1,259,417 (19,700) 1,239,717 Other liabilities 418,461 (137,365) 281,096 Total liabilities assumed 3,447,334 (2,480) 3,444,854 Net assets acquired $ 7,235,814 $ — $ 7,235,814
Unaudited pro forma information	The following table presents unaudited pro forma information for the three and nine months ended March 31, 2023 as if the Acquisition had occurred on July 1, 2021. (Unaudited) Three Months Ended Nine Months Ended March 31, 2023 March 31, 2023 Net sales $ 5,061,665 $ 14,350,581 Net income attributable to common shareholders 612,049 1,244,907

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Basic and diluted earnings per share	The following table presents a reconciliation of the numerator and denominator of basic and diluted earnings per share for the three and nine months ended March 31, 2024 and 2023. Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Numerator: Net income attributable to common shareholders $ 726,574 $ 590,889 $ 2,059,252 $ 1,373,980 Denominator: Basic - weighted average common shares 128,502,829 128,293,039 128,467,209 128,343,788 Increase in weighted average common shares from dilutive effect of equity-based awards 2,090,197 1,858,448 1,702,122 1,488,201 Diluted - weighted average common shares, assuming exercise of equity-based awards 130,593,026 130,151,487 130,169,331 129,831,989 Basic earnings per share $ 5.65 $ 4.61 $ 16.03 $ 10.71 Diluted earnings per share $ 5.56 $ 4.54 $ 15.82 $ 10.58

Non-trade and notes receivable

Non-trade and notes receivable (Tables)	9 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Non-trade and notes receivable	The non-trade and notes receivable caption in the Consolidated Balance Sheet is comprised of the following components: March 31, June 30, Notes receivable $ 87,475 $ 102,288 Accounts receivable, other 222,880 206,879 Total $ 310,355 $ 309,167

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 31, 2024
Inventory, Net [Abstract]
Inventories	The inventories caption in the Consolidated Balance Sheet is comprised of the following components: March 31, June 30, Finished products $ 821,422 $ 794,128 Work in process 1,526,113 1,488,665 Raw materials 618,801 625,086 Total $ 2,966,336 $ 2,907,879

Business realignment and acqu_2

Business realignment and acquisition integration charges (Tables)	9 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Business realignment charges and acquisition integration charges	Business realignment charges by business segment are as follows: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Diversified Industrial $ 6,953 $ 8,075 $ 32,877 $ 14,464 Aerospace Systems (12) 166 318 3,016 Other (income) expense, net 1,527 — 2,719 — Reductions to our workforce made in connection with such business realignment charges by business segment are as follows: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Diversified Industrial 143 282 658 499 Aerospace Systems (1) 14 1 30 The business realignment charges are presented in the Consolidated Statement of Income as follows: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Cost of sales $ 3,014 $ 5,033 $ 18,465 $ 10,746 Selling, general and administrative expenses 3,927 3,208 14,730 6,734 Other income, net 1,527 — 2,719 — We also incurred the following acquisition integration charges: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Diversified Industrial $ 1,292 $ 5,395 $ 3,302 $ 7,276 Aerospace Systems 11,964 25,849 26,374 69,377

Equity (Tables)

Equity (Tables)	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Changes in equity	Changes in equity for the three months ended March 31, 2024 and 2023 are as follows: Common Stock Additional Capital Retained Earnings Accumulated Other Comprehensive (Loss) Treasury Shares Noncontrolling Total Equity Balance at December 31, 2023 $ 90,523 $ 352,817 $ 17,993,453 $ (1,241,216) $ (5,892,999) $ 9,801 $ 11,312,379 Net income 726,574 160 726,734 Other comprehensive (loss) (167,158) (392) (167,550) Dividends paid ($1.48 per share) (190,468) (190,468) Stock incentive plan activity (57,087) 25,579 (31,508) Shares purchased at cost (49,166) (49,166) Balance at March 31, 2024 $ 90,523 $ 295,730 $ 18,529,559 $ (1,408,374) $ (5,916,586) $ 9,569 $ 11,600,421 Common Stock Additional Capital Retained Earnings Accumulated Other Comprehensive (Loss) Treasury Shares Noncontrolling Total Equity Balance at December 31, 2022 $ 90,523 $ 377,871 $ 16,102,883 $ (1,479,669) $ (5,769,228) $ 12,096 $ 9,334,476 Net income 590,889 71 590,960 Other comprehensive income (loss) 91,041 (299) 90,742 Dividends paid ($1.33 per share) (170,872) (170,872) Stock incentive plan activity (22,117) 19,976 (2,141) Shares purchased at cost (50,000) (50,000) Balance at March 31, 2023 $ 90,523 $ 355,754 $ 16,522,900 $ (1,388,628) $ (5,799,252) $ 11,868 $ 9,793,165 Changes in equity for the nine months ended March 31, 2024 and 2023 are as follows: Common Stock Additional Capital Retained Earnings Accumulated Other Comprehensive (Loss) Treasury Shares Noncontrolling Total Equity Balance at June 30, 2023 $ 90,523 $ 305,522 $ 17,041,502 $ (1,292,872) $ (5,817,787) $ 11,391 $ 10,338,279 Net income 2,059,252 611 2,059,863 Other comprehensive (loss) income (115,502) 384 (115,118) Dividends paid ($4.44 per share) (571,195) (388) (571,583) Stock incentive plan activity (10,207) 50,368 40,161 Acquisition activity 415 (2,429) (2,014) Shares purchased at cost (149,167) (149,167) Balance at March 31, 2024 $ 90,523 $ 295,730 $ 18,529,559 $ (1,408,374) $ (5,916,586) $ 9,569 $ 11,600,421 Common Stock Additional Capital Retained Earnings Accumulated Other Comprehensive (Loss) Treasury Shares Noncontrolling Total Equity Balance at June 30, 2022 $ 90,523 $ 327,307 $ 15,661,808 $ (1,543,198) $ (5,688,429) $ 11,909 $ 8,859,920 Net income 1,373,980 478 1,374,458 Other comprehensive income (loss) 154,570 (176) 154,394 Dividends paid ($3.99 per share) (512,888) (343) (513,231) Stock incentive plan activity 28,447 39,177 67,624 Shares purchased at cost (150,000) (150,000) Balance at March 31, 2023 $ 90,523 $ 355,754 $ 16,522,900 $ (1,388,628) $ (5,799,252) $ 11,868 $ 9,793,165
Changes in accumulated other comprehensive income (loss) in shareholders' equity by component	Changes in accumulated other comprehensive (loss) in shareholders' equity by component for the nine months ended March 31, 2024 and 2023 are as follows: Foreign Currency Translation Adjustment Retirement Benefit Plans Total Balance at June 30, 2023 $ (962,044) $ (330,828) $ (1,292,872) Other comprehensive income before reclassifications (119,600) — (119,600) Amounts reclassified from accumulated other comprehensive (loss) — 4,098 4,098 Balance at March 31, 2024 $ (1,081,644) $ (326,730) $ (1,408,374) Foreign Currency Translation Adjustment Retirement Benefit Plans Total Balance at June 30, 2022 $ (1,149,071) $ (394,127) $ (1,543,198) Other comprehensive income before reclassifications 146,173 — 146,173 Amounts reclassified from accumulated other comprehensive (loss) — 8,397 8,397 Balance at March 31, 2023 $ (1,002,898) $ (385,730) $ (1,388,628)
Reclassifications out of accumulated other comprehensive income (loss) in shareholders' equity	Significant reclassifications out of accumulated other comprehensive (loss) in shareholders' equity for the three and nine months ended March 31, 2024 and 2023 are as follows: Details about Accumulated Other Comprehensive (Loss) Components Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) Consolidated Statement of Income Classification Three Months Ended Nine Months Ended March 31, 2024 March 31, 2024 Retirement benefit plans Amortization of prior service cost and initial net obligation $ (319) $ (955) Other income, net Recognized actuarial loss (1,555) (4,656) Other income, net Total before tax (1,874) (5,611) Tax benefit 505 1,513 Net of tax $ (1,369) $ (4,098) Details about Accumulated Other Comprehensive (Loss) Components Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) Consolidated Statement of Income Classification Three Months Ended Nine Months Ended March 31, 2023 March 31, 2023 Retirement benefit plans Amortization of prior service cost and initial net obligation $ (227) $ (679) Other income, net Recognized actuarial gain (loss) 1,057 (11,422) Other income, net Divestiture activity 587 587 Other income, net Total before tax 1,417 (11,514) Tax benefit (53) 3,117 Net of tax $ 1,364 $ (8,397)

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	9 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in carrying amount of goodwill	The changes in the carrying amount of goodwill for the nine months ended March 31, 2024 are as follows: Diversified Industrial Aerospace Total Balance at June 30, 2023 $ 7,682,755 $ 2,945,839 $ 10,628,594 Acquisition 1,113 9,778 10,891 Divestitures (25,387) — (25,387) Foreign currency translation (29,859) (4,932) (34,791) Balance at March 31, 2024 $ 7,628,622 $ 2,950,685 $ 10,579,307
Intangible assets by major category	The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets: March 31, 2024 June 30, 2023 Gross Carrying Accumulated Gross Carrying Accumulated Patents and technology $ 2,117,511 $ 426,869 $ 2,128,847 $ 352,040 Trade names 1,042,091 428,015 1,047,678 390,737 Customer relationships and other 8,054,085 2,396,846 8,109,063 2,092,197 Total $ 11,213,687 $ 3,251,730 $ 11,285,588 $ 2,834,974

Retirement benefits (Tables)

Retirement benefits (Tables)	9 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Net pension (benefit) expense	Net pension (benefit) expense recognized included the following components: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Service cost $ 12,646 $ 14,599 $ 38,593 $ 42,534 Interest cost 67,644 59,021 202,077 166,456 Expected return on plan assets (88,381) (80,137) (264,862) (228,695) Amortization of prior service cost 319 227 955 679 Amortization of net actuarial loss (gain) 1,992 (657) 5,967 12,625 Net pension (benefit) expense $ (5,780) $ (6,947) $ (17,270) $ (6,401)

Financial instruments (Tables)

Financial instruments (Tables)	9 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Carrying values and estimated fair values 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 are as follows: March 31, June 30, Carrying value of long-term debt $ 10,585,086 $ 10,845,359 Estimated fair value of long-term debt 10,086,962 10,221,563
Fair value derivative instruments reported in consolidated balance sheet	The location and fair value of derivative financial instruments reported in the Consolidated Balance Sheet are as follows: Balance Sheet Caption March 31, June 30, Net investment hedges Cross-currency swap contracts Investments and other assets $ 8,005 $ 21,578 Cross-currency swap contracts Other liabilities 1,584 — Other derivative contracts Forward exchange contracts Non-trade and notes receivable 6,269 — Forward exchange contracts Other accrued liabilities 24 —
Gain (losses) on derivative financial instruments recorded in consolidated statement if income	Gains (losses) on derivative financial instruments that were recorded in the Consolidated Statement of Income are as follows: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Deal-contingent forward contracts $ — $ — $ — $ (389,992) Forward exchange contracts 9,192 7,378 7,379 (7,425) Costless collar contracts — 4,308 — 9,632 Cross-currency swap contracts — (2,976) — (18,739)
Derivative and non-derivative financial instruments, gain (losses) recorded in accumulated other comprehensive (loss)	Gains (losses) on derivative and non-derivative financial instruments that were recorded in accumulated other comprehensive (loss) on the Consolidated Balance Sheet are as follows: Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Cross-currency swap contracts $ 2,519 $ 16,085 $ (12,798) $ 17,196 Foreign currency denominated debt 13,237 (7,391) 6,536 (18,880)
Financial assets and liabilities 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 March 31, 2024 and June 30, 2023 are as follows: Quoted Prices Significant Other Significant Fair In Active Observable Unobservable Value at Markets Inputs Inputs March 31, 2024 (Level 1) (Level 2) (Level 3) Assets: Derivatives $ 14,274 $ — $ 14,274 $ — Liabilities: Derivatives 1,608 — 1,608 — Quoted Prices Significant Other Significant Fair In Active Observable Unobservable Value at Markets Inputs Inputs June 30, 2023 (Level 1) (Level 2) (Level 3) Assets: Derivatives $ 21,578 $ — $ 21,578 $ —

Business segment information (T

Business segment information (Tables)	9 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment reporting information	Three Months Ended Nine Months Ended March 31, March 31, 2024 2023 2024 2023 Net sales Diversified Industrial: North America $ 2,231,478 $ 2,342,590 $ 6,571,587 $ 6,615,035 International 1,434,165 1,524,515 4,227,057 4,277,227 Aerospace Systems 1,408,713 1,194,560 3,944,147 3,076,989 Total net sales $ 5,074,356 $ 5,061,665 $ 14,742,791 $ 13,969,251 Segment operating income Diversified Industrial: North America $ 490,452 $ 489,349 $ 1,458,355 $ 1,362,256 International 309,759 329,498 900,944 908,958 Aerospace Systems 289,339 133,905 778,711 234,849 Total segment operating income 1,089,550 952,752 3,138,010 2,506,063 Corporate general and administrative expenses 56,782 45,780 162,340 146,341 Income before interest expense and other (income) expense, net 1,032,768 906,972 2,975,670 2,359,722 Interest expense 123,732 151,993 387,229 416,718 Other (income) expense, net (11,007) (1,402) (20,202) 166,535 Income before income taxes $ 920,043 $ 756,381 $ 2,608,643 $ 1,776,469

Revenue recognition - Revenues

Revenue recognition - Revenues by segment and by platform (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 5,074,356	$ 5,061,665	$ 14,742,791	$ 13,969,251
Diversified Industrial Segment
Disaggregation of Revenue [Line Items]
Revenues from contracts	3,665,643	3,867,105	10,798,644	10,892,262
Diversified Industrial Segment | Motion Systems
Disaggregation of Revenue [Line Items]
Revenues from contracts	942,667	1,017,974	2,802,947	2,837,403
Diversified Industrial Segment | Flow and Process Control
Disaggregation of Revenue [Line Items]
Revenues from contracts	1,185,622	1,298,204	3,489,483	3,675,928
Diversified Industrial Segment | Filtration and Engineered Materials
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 1,537,354	$ 1,550,927	$ 4,506,214	$ 4,378,931

Revenue recognition - Revenue_2

Revenue recognition - Revenues by segment and primary market (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 5,074,356	$ 5,061,665	$ 14,742,791	$ 13,969,251
Aerospace Systems
Disaggregation of Revenue [Line Items]
Revenues from contracts	1,408,713	1,194,560	3,944,147	3,076,989
Aerospace Systems | Commercial original equipment manufacturer ("OEM")
Disaggregation of Revenue [Line Items]
Revenues from contracts	471,870	398,502	1,315,254	1,045,850
Aerospace Systems | Commercial aftermarket
Disaggregation of Revenue [Line Items]
Revenues from contracts	482,477	381,883	1,311,445	938,129
Aerospace Systems | Military OEM
Disaggregation of Revenue [Line Items]
Revenues from contracts	260,818	244,451	787,196	649,179
Aerospace Systems | Military aftermarket
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 193,548	$ 169,724	$ 530,252	$ 443,831

Revenue recognition - Revenue b

Revenue recognition - Revenue by geographic region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 5,074,356	$ 5,061,665	$ 14,742,791	$ 13,969,251
North America
Disaggregation of Revenue [Line Items]
Revenues from contracts	3,438,587	3,364,157	9,965,836	9,278,815
Europe
Disaggregation of Revenue [Line Items]
Revenues from contracts	1,026,035	1,054,157	2,915,334	2,750,159
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues from contracts	554,991	590,017	1,693,316	1,777,550
Latin America
Disaggregation of Revenue [Line Items]
Revenues from contracts	$ 54,743	$ 53,334	$ 168,305	$ 162,727

Revenue recognition - Contract

Revenue recognition - Contract assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Contract assets, current (included within Prepaid expenses and other)	$ 132,237	$ 123,705
Contract assets, noncurrent (included within Investments and other assets)	17,976	23,708
Total contract assets	150,213	147,413
Contract liabilities, current (included within Other accrued liabilities)	(211,777)	(244,799)
Contract liabilities, noncurrent (included within Other liabilities)	(72,306)	(78,239)
Total contract liabilities	(284,083)	(323,038)
Net contract liabilities	$ (133,870)	$ (175,625)

Revenue recognition - Narrative

Revenue recognition - Narrative (Details) $ in Millions	9 Months Ended
	Mar. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 169
Remaining performance obligation, amount	$ 10,800
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	76%
Remaining performance obligation, period	12 months

Acquisitions and divestitures -

Acquisitions and divestitures - Narrative (Details) $ in Thousands		1 Months Ended				3 Months Ended	9 Months Ended
	Sep. 12, 2022 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 12, 2022 £ / shares	Sep. 12, 2022 USD ($)
Business Acquisition [Line Items]
Proceeds from sale of businesses							$ 75,561	$ 471,720
Filter Resources Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Proceeds from sale of businesses		$ 37,000
Pre-tax gain (loss) related to divestiture		$ 12,000
MicroStrain Sensing Systems Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Proceeds from sale of businesses			$ 37,000
Pre-tax gain (loss) related to divestiture			$ 13,000
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)
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
Meggitt plc
Business Acquisition [Line Items]
Price per share of stock acquired (in pounds per share) | £ / shares									£ 8
Purchase price to acquire business	$ 7,200,000
Aggregate annual sales for business, to be acquired, for their most recent fiscal year prior to acquisition	$ 2,100,000
Acquisition-relate nonrecurring adjustments						$ (1,000)		$ 197,000
Meggitt plc | Aerospace Systems
Business Acquisition [Line Items]
Percentage of revenue per segment										82%
Meggitt plc | Diversified Industrial
Business Acquisition [Line Items]
Percentage of revenue per segment										18%
Meggitt plc | Customer- Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets acquired										$ 4,200,000
Weighted average useful life of intangible assets	21 years
Meggitt plc | Technology
Business Acquisition [Line Items]
Intangible assets acquired										1,100,000
Weighted average useful life of intangible assets	22 years
Meggitt plc | Trade names
Business Acquisition [Line Items]
Intangible assets acquired										$ 303,000
Weighted average useful life of intangible assets	18 years

Acquisitions and divestitures_2

Acquisitions and divestitures - Schedule of assets and liabilities assumed on acquisition date (Details) - USD ($) $ in Thousands	2 Months Ended
	Sep. 12, 2023	Mar. 31, 2024	Jun. 30, 2023	Sep. 12, 2022
Assets:
Goodwill		$ 10,579,307	$ 10,628,594
Meggitt plc
Assets:
Cash and cash equivalents				$ 89,704
Measurement period adjustments, cash and cash equivalents	$ 0
Accounts receivable				410,823
Measurement period adjustments, accounts receivable	1,181
Inventories				752,884
Measurement period adjustments, inventory	13,580
Prepaid expenses and other				122,705
Measurement period adjustments, prepaid expenses and other	20,673
Property, plant and equipment				657,569
Measurement period adjustments, property, plant and equipment	(1,428)
Deferred income taxes				15,468
Measurement period adjustments, deferred income taxes	(18,730)
Other assets				180,344
Measurement period adjustments, other assets	(647)
Intangible assets				5,651,200
Measurement period adjustments, intangible assets	(28,000)
Goodwill				2,799,971
Measurement period adjustments, goodwill	10,891
Total assets acquired				10,680,668
Measurement period adjustments, total assets acquired	(2,480)
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	0
Accounts payable, trade				219,137
Measurement period adjustments, accounts payable, trade	(705)
Accrued payrolls and other compensation				87,073
Measurement period adjustments, accrued payrolls and other compensation	(1)
Accrued domestic and foreign taxes				20,250
Measurement period adjustments, accrued domestic and foreign taxes	(818)
Other accrued liabilities				480,177
Measurement period adjustments, other accrued liabilities	158,137
Long-term debt				711,703
Measurement period adjustments, long-term debt	0
Pensions and other postretirement benefits				97,525
Measurement period adjustments, pensions and other postretirement benefits	(2,028)
Deferred income taxes				1,239,717
Measurement period adjustments, deferred income taxes	(19,700)
Other liabilities				281,096
Measurement period adjustments, other liabilities	(137,365)
Total liabilities assumed				3,444,854
Measurement period adjustments, total liabilities assumed	(2,480)
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			409,642
Inventories			739,304
Prepaid expenses and other			102,032
Property, plant and equipment			658,997
Deferred income taxes			34,198
Other assets			180,991
Intangible assets			5,679,200
Goodwill			2,789,080
Total assets acquired			10,683,148
Liabilities:
Notes payable and long-term debt payable within one year			308,176
Accounts payable, trade			219,842
Accrued payrolls and other compensation			87,074
Accrued domestic and foreign taxes			21,068
Other accrued liabilities			322,040
Long-term debt			711,703
Pensions and other postretirement benefits			99,553
Deferred income taxes			1,259,417
Other liabilities			418,461
Total liabilities assumed			3,447,334
Net assets acquired			$ 7,235,814

Acquisitions and divestitures_3

Acquisitions and divestitures - Unaudited pro forma information (Details) - Meggitt plc - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2023
Business Acquisition [Line Items]
Net sales	$ 5,061,665	$ 14,350,581
Net income attributable to common shareholders	$ 612,049	$ 1,244,907

Earnings per share - Computatio

Earnings per share - Computation of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net income attributable to common shareholders, basic	$ 726,574	$ 590,889	$ 2,059,252	$ 1,373,980
Net income attributable to common shareholders, diluted	$ 726,574	$ 590,889	$ 2,059,252	$ 1,373,980
Denominator:
Basic - weighted average common shares (in shares)	128,502,829	128,293,039	128,467,209	128,343,788
Increase in weighted average common shares from dilutive effect of equity-based awards (in shares)	2,090,197	1,858,448	1,702,122	1,488,201
Diluted - weighted average common shares, assuming exercise of equity-based awards (in shares)	130,593,026	130,151,487	130,169,331	129,831,989
Basic earnings per share (in USD per share)	$ 5.65	$ 4.61	$ 16.03	$ 10.71
Diluted earnings per share (in USD per share)	$ 5.56	$ 4.54	$ 15.82	$ 10.58

Earnings per share - Narrative

Earnings per share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Excluded from the computation of diluted earnings per share since anti-dilutive (in shares)	113,956	124,025	400,506	1,011,006

Share repurchase program (Detai

Share repurchase program (Details) - $ / shares	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Oct. 22, 2014
Equity [Abstract]
Authorized to be repurchased (in shares)			35,000,000
Repurchased (in shares)	97,900	343,539
Repurchased, average price (in USD per share)	$ 502.22	$ 434.21

Trade accounts receivable, net

Trade accounts receivable, net (Details) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Receivables [Abstract]
Allowance for credit losses	$ 21	$ 32

Non-trade and notes receivabl_2

Non-trade and notes receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Receivables [Abstract]
Notes receivable	$ 87,475	$ 102,288
Accounts receivable, other	222,880	206,879
Total	$ 310,355	$ 309,167

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Inventory, Net [Abstract]
Finished products	$ 821,422	$ 794,128
Work in process	1,526,113	1,488,665
Raw materials	618,801	625,086
Total	$ 2,966,336	$ 2,907,879

Supply chain financing (Details

Supply chain financing (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Payables and Accruals [Abstract]
Payable to suppliers who have elected to participate in the supply chain financing programs	$ 103		$ 85
Amounts settled through supply chain financing programs and paid to participating financial intermediaries	$ 221	$ 184

Business realignment and acqu_3

Business realignment and acquisition integration charges - Business segment information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024 USD ($) employee	Mar. 31, 2023 USD ($) employee	Mar. 31, 2024 USD ($) employee	Mar. 31, 2023 USD ($) employee
Other income, net
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 1,527	$ 0	$ 2,719	$ 0
Diversified Industrial | Operating Segments
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 6,953	$ 8,075	$ 32,877	$ 14,464
Number of positions eliminated (employees) | employee	143	282	658	499
Aerospace Systems | Operating Segments
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ (12)	$ 166	$ 318	$ 3,016
Number of positions eliminated (employees) | employee	(1)	14	1	30

Business realignment and acqu_4

Business realignment and acquisition integration charges - Income statement location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Cost of sales
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 3,014	$ 5,033	$ 18,465	$ 10,746
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Business realignment charges	3,927	3,208	14,730	6,734
Other income, net
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 1,527	$ 0	$ 2,719	$ 0

Business realignment and acqu_5

Business realignment and acquisition integration charges - Narrative (Details) $ in Millions	9 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring and Related Activities [Abstract]
Payments made relating to business realignment charges	$ 33
Remaining payments related to business realignment actions	$ 15

Business realignment and acqu_6

Business realignment and acquisition integration charges - Acquisition integration charges related to the Lord and Exotic acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Diversified Industrial
Restructuring Cost and Reserve [Line Items]
Acquisition integration charges	$ 1,292	$ 5,395	$ 3,302	$ 7,276
Aerospace Systems
Restructuring Cost and Reserve [Line Items]
Acquisition integration charges	$ 11,964	$ 25,849	$ 26,374	$ 69,377

Equity - Changes in equity (Det

Equity - Changes in equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 11,312,379	$ 9,334,476	$ 10,338,279	$ 8,859,920
Net income	726,734	590,960	2,059,863	1,374,458
Other comprehensive (loss) income	(167,550)	90,742	(115,118)	154,394
Dividends paid	(190,468)	(170,872)	(571,583)	(513,231)
Stock incentive plan activity	(31,508)	(2,141)	40,161	67,624
Acquisition activity			(2,014)
Shares purchased at cost	(49,166)	(50,000)	(149,167)	(150,000)
Ending balance	$ 11,600,421	$ 9,793,165	$ 11,600,421	$ 9,793,165
Dividends paid (in USD per share)	$ 1.48	$ 1.33	$ 4.44	$ 3.99
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 90,523	$ 90,523	$ 90,523	$ 90,523
Ending balance	90,523	90,523	90,523	90,523
Additional Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	352,817	377,871	305,522	327,307
Stock incentive plan activity	(57,087)	(22,117)	(10,207)	28,447
Acquisition activity			415
Ending balance	295,730	355,754	295,730	355,754
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	17,993,453	16,102,883	17,041,502	15,661,808
Net income	726,574	590,889	2,059,252	1,373,980
Dividends paid	(190,468)	(170,872)	(571,195)	(512,888)
Ending balance	18,529,559	16,522,900	18,529,559	16,522,900
Accumulated Other Comprehensive (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,241,216)	(1,479,669)	(1,292,872)	(1,543,198)
Other comprehensive (loss) income	(167,158)	91,041	(115,502)	154,570
Ending balance	(1,408,374)	(1,388,628)	(1,408,374)	(1,388,628)
Treasury Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(5,892,999)	(5,769,228)	(5,817,787)	(5,688,429)
Stock incentive plan activity	25,579	19,976	50,368	39,177
Shares purchased at cost	(49,166)	(50,000)	(149,167)	(150,000)
Ending balance	(5,916,586)	(5,799,252)	(5,916,586)	(5,799,252)
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	9,801	12,096	11,391	11,909
Net income	160	71	611	478
Other comprehensive (loss) income	(392)	(299)	384	(176)
Dividends paid			(388)	(343)
Acquisition activity			(2,429)
Ending balance	$ 9,569	$ 11,868	$ 9,569	$ 11,868

Equity - Changes in accumulated

Equity - Changes in accumulated other comprehensive income (loss) in shareholders' equity by component (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 10,338,279	$ 8,859,920
Ending balance	11,600,421	9,793,165
Foreign Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(962,044)	(1,149,071)
Other comprehensive income before reclassifications	(119,600)	146,173
Amounts reclassified from accumulated other comprehensive (loss)	0	0
Ending balance	(1,081,644)	(1,002,898)
Retirement Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(330,828)	(394,127)
Other comprehensive income before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive (loss)	4,098	8,397
Ending balance	(326,730)	(385,730)
Accumulated Other Comprehensive (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,292,872)	(1,543,198)
Other comprehensive income before reclassifications	(119,600)	146,173
Amounts reclassified from accumulated other comprehensive (loss)	4,098	8,397
Ending balance	$ (1,408,374)	$ (1,388,628)

Equity - Reclassifications out

Equity - Reclassifications out of accumulated other comprehensive income (loss) in shareholders' equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income, net	$ 65,406	$ 55,866	$ 228,872	$ 116,131
Total before tax	920,043	756,381	2,608,643	1,776,469
Tax benefit	(193,309)	(165,421)	(548,780)	(402,011)
Net income	726,734	590,960	2,059,863	1,374,458
Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) | Amortization of prior service cost and initial net obligation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income, net	(319)	(227)	(955)	(679)
Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) | Recognized actuarial loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income, net	(1,555)	1,057	(4,656)	(11,422)
Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) | Retirement benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	(1,874)	1,417	(5,611)	(11,514)
Tax benefit	505	(53)	1,513	3,117
Net income	(1,369)	$ 1,364	$ (4,098)	(8,397)
Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) | Divestiture activity
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income, net	$ 587			$ 587

Goodwill and intangible asset_2

Goodwill and intangible assets - Changes in carrying amount of goodwill (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 10,628,594
Acquisition	10,891
Divestitures	(25,387)
Foreign currency translation	(34,791)
Ending balance	10,579,307
Diversified Industrial Segment
Goodwill [Roll Forward]
Beginning balance	7,682,755
Acquisition	1,113
Divestitures	(25,387)
Foreign currency translation	(29,859)
Ending balance	7,628,622
Aerospace Systems Segment
Goodwill [Roll Forward]
Beginning balance	2,945,839
Acquisition	9,778
Divestitures	0
Foreign currency translation	(4,932)
Ending balance	$ 2,950,685

Goodwill and intangible asset_3

Goodwill and intangible assets - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible amortization expense	$ 439	$ 374
Estimated amortization expense, year ending June 30, 2024	580
Estimated amortization expense, year ending June 30, 2025	551
Estimated amortization expense, year ending June 30, 2026	546
Estimated amortization expense, year ending June 30, 2027	541
Estimated amortization expense, year ending June 30, 2028	$ 531

Goodwill and intangible asset_4

Goodwill and intangible assets - Intangible assets by major category (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 11,213,687	$ 11,285,588
Accumulated Amortization	3,251,730	2,834,974
Patents and technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,117,511	2,128,847
Accumulated Amortization	426,869	352,040
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,042,091	1,047,678
Accumulated Amortization	428,015	390,737
Customer relationships and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	8,054,085	8,109,063
Accumulated Amortization	$ 2,396,846	$ 2,092,197

Retirement benefits - Net pensi

Retirement benefits - Net pension (benefit) expense (Details) - Pension Plans - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 12,646	$ 14,599	$ 38,593	$ 42,534
Interest cost	67,644	59,021	202,077	166,456
Expected return on plan assets	(88,381)	(80,137)	(264,862)	(228,695)
Amortization of prior service cost	319	227	955	679
Amortization of net actuarial loss (gain)	1,992	(657)	5,967	12,625
Net pension (benefit) expense	$ (5,780)	$ (6,947)	$ (17,270)	$ (6,401)

Retirement benefits - Narrative

Retirement benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Other Postretirement Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Other postretirement benefits expense	$ 0.5	$ 0.5	$ 1.6	$ 1.2

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Line of Credit Facility [Line Items]
Payments for long-term borrowings	$ 264,411	$ 1,363,596
Commercial paper	$ 800,000		$ 1,800,000
Debt to debt-shareholders' equity ratio	0.50
Maximum
Line of Credit Facility [Line Items]
Debt to debt-shareholders' equity ratio, covenant, maximum	0.65
Line of Credit | Term Loan Facility | Loans Payable
Line of Credit Facility [Line Items]
Payments for long-term borrowings	$ 250,000
Line of Credit | Term Loan Facility | Loans Payable | Debt Instrument, Periodic Payment, Interest, Period One
Line of Credit Facility [Line Items]
Periodic payment, interest, period	1 month
Line of Credit | Term Loan Facility | Loans Payable | Debt Instrument, Periodic Payment, Interest, Period Two
Line of Credit Facility [Line Items]
Periodic payment, interest, period	3 months
Line of Credit | Term Loan Facility | Loans Payable | Debt Instrument, Periodic Payment, Interest, Period Three
Line of Credit Facility [Line Items]
Periodic payment, interest, period	6 months
Line of Credit | Term Loan Facility | Loans Payable | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.225%

Income taxes (Details)

Income taxes (Details) $ in Millions	Mar. 31, 2024 USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 99
Unrecognized tax benefits that would impact effective tax rate if recognized	99
Accrued interest related to the gross unrecognized tax benefits excluded from the unrecognized tax benefits	26
Accrued penalties related to the gross unrecognized tax benefits excluded from the unrecognized tax benefits	2
Decrease in unrecognized tax benefits that is reasonably possible (up to)	$ 40

Financial instruments - Carryin

Financial instruments - Carrying values and estimated fair values of long-term debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Carrying value of long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 10,585,086	$ 10,845,359
Estimated fair value of long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 10,086,962	$ 10,221,563

Financial instruments - Narrati

Financial instruments - Narrative (Details) - Mar. 31, 2024 € in Millions, ¥ in Billions	EUR (€)	JPY (¥)
Currency Swap, Due November 2034
Debt Instrument [Line Items]
Notional amount of derivative	€ 69	¥ 2.1
Currency Swap, Due May 2038
Debt Instrument [Line Items]
Notional amount of derivative	290
Senior Notes | Senior Notes Due 2025
Debt Instrument [Line Items]
Aggregate principal amount (in EUR)	€ 700

Financial instruments - Fair va

Financial instruments - Fair value of derivative instruments reported in consolidated balance sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Cross-currency swap contracts | Investments and other assets
Net investment hedges
Cross-currency swap contracts, assets	$ 8,005	$ 21,578
Cross-currency swap contracts | Other liabilities
Net investment hedges
Cross-currency swap contracts, liability	1,584	0
Forward exchange contracts | Non-trade and notes receivable
Other derivative contracts
Other derivative contracts, assets	6,269	0
Forward exchange contracts | Other accrued liabilities
Other derivative contracts
Other derivative contracts, liabilities	$ 24	$ 0

Financial instruments - Gain (l

Financial instruments - Gain (losses) on derivative financial instruments recorded in consolidated statement if income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Deal-contingent forward contracts
Derivative [Line Items]
Gains (loss) on derivative financial instruments	$ 0	$ 0	$ 0	$ (389,992)
Forward exchange contracts
Derivative [Line Items]
Gains (loss) on derivative financial instruments	9,192	7,378	7,379	(7,425)
Costless collar contracts
Derivative [Line Items]
Gains (loss) on derivative financial instruments	0	4,308	0	9,632
Cross-currency swap contracts
Derivative [Line Items]
Gains (loss) on derivative financial instruments	$ 0	$ (2,976)	$ 0	$ (18,739)

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	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Cross-currency swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative and non-derivative instruments gain (loss) recognized in accumulated other comprehensive income (loss)	$ 2,519	$ 16,085	$ (12,798)	$ 17,196
Foreign currency denominated debt
Derivative Instruments, Gain (Loss) [Line Items]
Derivative and non-derivative instruments gain (loss) recognized in accumulated other comprehensive income (loss)	$ 13,237	$ (7,391)	$ 6,536	$ (18,880)

Financial instruments - Financi

Financial instruments - Financial assets and liabilities measured at fair value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Assets:
Derivatives	$ 14,274	$ 21,578
Liabilities:
Derivatives	1,608
Quoted Prices In Active Markets (Level 1)
Assets:
Derivatives	0	0
Liabilities:
Derivatives	0
Significant Other Observable Inputs (Level 2)
Assets:
Derivatives	14,274	21,578
Liabilities:
Derivatives	1,608
Significant Unobservable Inputs (Level 3)
Assets:
Derivatives	0	$ 0
Liabilities:
Derivatives	$ 0

Business segment information (D

Business segment information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($) segment technology	Mar. 31, 2023 USD ($)
Segment Reporting [Abstract]
Number of reportable business segments | segment			2
Number of core technologies utilized | technology			8
Segment Reporting Information [Line Items]
Net sales	$ 5,074,356	$ 5,061,665	$ 14,742,791	$ 13,969,251
Operating income	1,032,768	906,972	2,975,670	2,359,722
Selling, general and administrative expenses	816,337	868,393	2,496,830	2,519,163
Interest expense	123,732	151,993	387,229	416,718
Other (income) expense, net	(11,007)	(1,402)	(20,202)	166,535
Income before income taxes	920,043	756,381	2,608,643	1,776,469
North America
Segment Reporting Information [Line Items]
Net sales	3,438,587	3,364,157	9,965,836	9,278,815
Diversified Industrial
Segment Reporting Information [Line Items]
Net sales	3,665,643	3,867,105	10,798,644	10,892,262
Aerospace Systems
Segment Reporting Information [Line Items]
Net sales	1,408,713	1,194,560	3,944,147	3,076,989
Operating Segments
Segment Reporting Information [Line Items]
Net sales	5,074,356	5,061,665	14,742,791	13,969,251
Operating income	1,089,550	952,752	3,138,010	2,506,063
Operating Segments | Diversified Industrial | North America
Segment Reporting Information [Line Items]
Net sales	2,231,478	2,342,590	6,571,587	6,615,035
Operating income	490,452	489,349	1,458,355	1,362,256
Operating Segments | Diversified Industrial | International
Segment Reporting Information [Line Items]
Net sales	1,434,165	1,524,515	4,227,057	4,277,227
Operating income	309,759	329,498	900,944	908,958
Operating Segments | Aerospace Systems
Segment Reporting Information [Line Items]
Net sales	1,408,713	1,194,560	3,944,147	3,076,989
Operating income	289,339	133,905	778,711	234,849
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Selling, general and administrative expenses	$ 56,782	$ 45,780	$ 162,340	$ 146,341