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Goodwill and Intangibles | 3 Months Ended
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Sep. 30, 2014
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 three month period ended September 30, 2014 are as follows:
| Service Centers |  | Fluid Power |  | Total
Balance at July 1, 2014 | $ | 192,565 |  |  | $ | 929 |  |  | $ | 193,494 |
Goodwill acquired during the period | 71,361 |  |  | — |  |  | 71,361 |
Other, primarily currency translation | (5,699 | ) |  | — |  |  | (5,699 | )
Balance at September 30, 2014 | $ | 258,227 |  |  | $ | 929 |  |  | $ | 259,156 |
At September 30, 2014, accumulated goodwill impairment losses, subsequent to fiscal year 2002, totaled $36,605 and related to the Fluid Power Businesses segment. The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following:
September 30, 2014 |  | Amount |  | Accumulated Amortization |  | Net Book Value
Finite-Lived Identifiable Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 217,668 |  |  | $ | 52,751 |  |  | $ | 164,917 |
Trade names |  | 43,316 |  |  | 11,153 |  |  | 32,163 |
Vendor relationships |  | 15,144 |  |  | 6,793 |  |  | 8,351 |
Non-competition agreements |  | 4,528 |  |  | 1,462 |  |  | 3,066 |
Total Identifiable Intangibles |  | $ | 280,656 |  |  | $ | 72,159 |  |  | $ | 208,497 |
June 30, 2014 |  | Amount |  | Accumulated Amortization |  | Net Book Value
Finite-Lived Identifiable Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 170,395 |  |  | $ | 48,285 |  |  | $ | 122,110 |
Trade names |  | 36,912 |  |  | 10,394 |  |  | 26,518 |
Vendor relationships |  | 15,446 |  |  | 6,628 |  |  | 8,818 |
Non-competition agreements |  | 3,322 |  |  | 1,260 |  |  | 2,062 |
Total Identifiable Intangibles |  | $ | 226,075 |  |  | $ | 66,567 |  |  | $ | 159,508 |
Amounts include the impact of foreign currency translation. Fully amortized amounts are written off. During the three month period ended September 30, 2014, the Company acquired identifiable intangible assets with a preliminary acquisition cost allocation and weighted-average life as follows:
|  | Acquisition Cost Allocation |  | Weighted-Average Life
Customer relationships |  | $ | 51,494 |  |  | 20
Trade names |  | 6,928 |  |  | 5
Vendor relationships |  | 9 |  |  | 5
Non-competition agreements |  | 1,300 |  |  | 5
Total Intangibles Acquired |  | $ | 59,731 |  |  | 18
Estimated future amortization expense by fiscal year (based on the Company’s identifiable intangible assets as of September 30, 2014) for the next five years is as follows: $19,800 for the remainder of 2015, $24,500 for 2016, $23,100 for 2017, $21,000 for 2018, $19,200 for 2019 and $16,300 for 2020.

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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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