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Segment Information | 12 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
SEGMENT AND GEOGRAPHIC INFORMATION | SEGMENT INFORMATION In the first quarter of fiscal 2019, the Company performed a review of its management reporting structure and implemented changes to align with how the Company measures performance. As a result, the Company has revised its reportable segments to reflect how management currently reviews financial information and makes operating decisions. Certain supplier support benefits are now included within the Service Center Based Distribution segment operating income. Previously, these benefits were included in Corporate and other expense, net. All prior-period amounts have been adjusted to reflect the reportable segment change. The Company's reportable segments are: Service Center Based Distribution and Fluid Power & Flow Control. These reportable segments contain the Company's various operating segments which have been aggregated based upon similar economic and operating characteristics. The Service Center Based Distribution segment provides customers with solutions to their maintenance, repair and original equipment manufacturing needs through the distribution of industrial products including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion products, tools, safety products, and other industrial and maintenance supplies. The Fluid Power & Flow Control segment distributes engineered fluid power components and specialty flow control solutions and operates shops that assemble fluid power systems and components, performs equipment repair, and offers technical advice to customers. The accounting policies of the Company’s reportable segments are generally the same as those described in note 1. Intercompany sales, primarily from the Fluid Power & Flow Control segment to the Service Center Based Distribution segment of $28,677, $25,556, and $22,719, in 2019, 2018, and 2017, respectively, have been eliminated in the following table. Segment Financial Information
| Service Center Based Distribution |  |  | Fluid Power & Flow Control |  |  | Total |
Year Ended June 30, 2019 |  |  |  |  |
Net sales | $ | 2,452,905 |  |  | $ | 1,019,834 |  |  | $ | 3,472,739 |
Operating income for reportable segments | 254,954 |  |  | 112,117 |  |  | 367,071 |
Assets used in the business | 1,265,093 |  |  | 1,066,604 |  |  | 2,331,697 |
Depreciation and amortization of property | 15,982 |  |  | 4,254 |  |  | 20,236 |
Capital expenditures | 16,475 |  |  | 2,495 |  |  | 18,970 |
Year Ended June 30, 2018 |  |  |  |  |
Net sales | $ | 2,346,418 |  |  | $ | 726,856 |  |  | $ | 3,073,274 |
Operating income for reportable segments | 238,322 |  |  | 83,175 |  |  | 321,497 |
Assets used in the business | 1,198,296 |  |  | 1,087,445 |  |  | 2,285,741 |
Depreciation and amortization of property | 15,336 |  |  | 2,462 |  |  | 17,798 |
Capital expenditures | 18,492 |  |  | 4,738 |  |  | 23,230 |
Year Ended June 30, 2017 |  |  |  |  |
Net sales | $ | 2,180,358 |  |  | $ | 413,388 |  |  | $ | 2,593,746 |
Operating income for reportable segments | 203,267 |  |  | 46,312 |  |  | 249,579 |
Assets used in the business | 1,187,054 |  |  | 200,541 |  |  | 1,387,595 |
Depreciation and amortization of property | 14,375 |  |  | 931 |  |  | 15,306 |
Capital expenditures | 14,566 |  |  | 2,479 |  |  | 17,045 |
A reconciliation of operating income for reportable segments to the consolidated income before income taxes is as follows:
Year Ended June 30, | 2019 |  |  | 2018 |  |  | 2017 |
Operating income for reportable segments | $ | 367,071 |  |  | $ | 321,497 |  |  | $ | 249,579 |
Adjustments for: |  |  |  |  |
Intangible amortization — Service Center Based Distribution | 13,639 |  |  | 17,375 |  |  | 18,954 |
Intangible amortization — Fluid Power & Flow Control | 28,244 |  |  | 14,690 |  |  | 5,417 |
Intangible Impairment — Service Center Based Distribution | 31,594 |  |  | — |  |  | — |
Corporate and other expense, net | 59,806 |  |  | 63,605 |  |  | 49,822 |
Total operating income | 233,788 |  |  | 225,827 |  |  | 175,386 |
Interest expense, net | 40,188 |  |  | 23,485 |  |  | 8,541 |
Other income, net | (881 | ) |  | (2,376 | ) |  | (121 | )
Income before income taxes | $ | 194,481 |  |  | $ | 204,718 |  |  | $ | 166,966 |
Fluctuations in corporate and other expense, net, are due to changes in corporate expenses, as well as in the amounts and levels of certain expenses being allocated to the segments. The expenses being allocated include corporate charges for working capital, logistics support and other items. Geographic Information Long-lived assets are based on physical locations and are comprised of the net book value of property and intangible assets. Information by geographic area is as follows:
June 30, | 2019 |  |  | 2018 |  |  | 2017 |
Long-Lived Assets: |  |  |  |  |
United States | $ | 474,910 |  |  | $ | 501,373 |  |  | $ | 207,126 |
Canada | 13,291 |  |  | 50,261 |  |  | 57,947 |
Other Countries | 4,968 |  |  | 5,656 |  |  | 6,558 |
Total | $ | 493,169 |  |  | $ | 557,290 |  |  | $ | 271,631 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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