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Goodwill and Intangibles | 12 Months Ended
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Jun. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLES | GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill for both the Service Center Based Distribution Segment and the Fluid Power Businesses segment for the years ended June 30, 2013 and 2012 are as follows:
| Service Center Based Distribution |  | Fluid Power Businesses |  | Total |
Balance at July 1, 2011 | $ | 76,981 |  |  |  | $ | 76,981 |
Goodwill acquired during the year | 8,403 |  |  |  | 8,403 |
Other, primarily currency translation | (2,304 | ) |  |  | (2,304 | )
Balance at June 30, 2012 | 83,080 |  |  |  | 83,080 |
Goodwill acquired during the year | 23,395 |  | $ | 929 |  | 24,324 |
Other, primarily currency translation | (555 | ) | — |  | (555 | )
Balance at June 30, 2013 | $ | 105,920 |  | $ | 929 |  | $ | 106,849 |
At June 30, 2013, accumulated goodwill impairment losses subsequent to fiscal year 2002 totaled $36,605 and relate entirely to the Fluid Power Businesses segment. The Company's intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following:
June 30, 2013 |  | Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
Finite-Lived Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 100,854 |  |  | $ | 38,844 |  |  | $ | 62,010 |
Trade names |  | 26,690 |  |  | 8,643 |  |  | 18,047 |
Vendor relationships |  | 15,433 |  |  | 5,443 |  |  | 9,990 |
Non-competition agreements |  | 4,743 |  |  | 3,523 |  |  | 1,220 |
Total Intangibles |  | $ | 147,720 |  |  | $ | 56,453 |  |  | $ | 91,267 |
June 30, 2012 |  | Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
Finite-Lived Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 84,249 |  |  | $ | 29,905 |  |  | $ | 54,344 |
Trade names |  | 25,677 |  |  | 7,428 |  |  | 18,249 |
Vendor relationships |  | 13,605 |  |  | 4,500 |  |  | 9,105 |
Non-competition agreements |  | 4,740 |  |  | 2,888 |  |  | 1,852 |
Total Finite-Lived Intangibles |  | 128,271 |  |  | 44,721 |  |  | 83,550 |
Indefinite-Lived Trade Name |  | 1,290 |  |  |  |  | 1,290 |
Total Intangibles |  | $ | 129,561 |  |  | $ | 44,721 |  |  | $ | 84,840 |
Amounts include the impact of foreign currency translation. Fully amortized amounts are written off. During fiscal year 2013 the Company re-categorized its previously indefinite-lived trade name to finite-lived trade names and as a result began amortizing it. During 2013, the Company acquired intangible assets with a preliminary acquisition cost allocation and weighted-average life as follows:
|  | Acquisition Cost Allocation |  |  | Weighted-Average Life
Customer relationships |  | $ | 16,755 |  |  | 18 years
Trade names |  | 651 |  |  | 5 years
Vendor relationships |  | 2,138 |  |  | 10 years
Non-competition agreements |  | 270 |  |  | 4.5 years
Total Intangibles Acquired |  | $ | 19,814 |  |  | 16 years
Amortization of intangibles totaled $13,233, $11,465 and $11,382 in fiscal 2013, 2012 and 2011, respectively, and is included in selling, distribution and administrative expenses in the statements of consolidated income. Amortization expense based on the Company’s intangible assets as of June 30, 2013 is estimated to be $12,200 for 2014, $11,200 for 2015, $10,100 for 2016, $9,500 for 2017 and $8,400 for 2018.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13854-109267 + Details
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