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Segment Information | 12 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
SEGMENT AND GEOGRAPHIC INFORMATION | SEGMENT INFORMATION 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 operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of motion control infrastructure and production equipment. Products primarily include industrial bearings, motors, belting, drives, couplings, pumps, linear motion products, hydraulic and pneumatic components, filtration supplies, and hoses, as well as other related supplies for general operational needs of customers’ machinery and equipment. The Fluid Power & Flow Control segment includes our operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, and engineered flow control products and services. 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 $29,582, $28,677, and $25,556, in 2020, 2019, and 2018, respectively, have been eliminated in the following table. Segment Financial Information
| Service Center Based Distribution |  |  | Fluid Power & Flow Control |  |  | Total |
Year Ended June 30, 2020 |  |  |  |  |
Net sales | $ | 2,241,949 |  |  | $ | 1,003,703 |  |  | $ | 3,245,652 |
Operating income for reportable segments | 211,667 |  |  | 109,847 |  |  | 321,514 |
Assets used in the business | 1,314,011 |  |  | 969,540 |  |  | 2,283,551 |
Depreciation and amortization of property | 17,133 |  |  | 4,063 |  |  | 21,196 |
Capital expenditures | 17,063 |  |  | 3,052 |  |  | 20,115 |
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 |
A reconciliation of operating income for reportable segments to the consolidated income before income taxes is as follows:
Year Ended June 30, | 2020 |  |  | 2019 |  |  | 2018 |
Operating income for reportable segments | $ | 321,514 |  |  | $ | 367,071 |  |  | $ | 321,497 |
Adjustments for: |  |  |  |  |
Intangible amortization — Service Center Based Distribution | 12,385 |  |  | 13,639 |  |  | 17,375 |
Intangible amortization — Fluid Power & Flow Control | 29,168 |  |  | 28,244 |  |  | 14,690 |
Intangible Impairment — Service Center Based Distribution | — |  |  | 31,594 |  |  | — |
Goodwill Impairment — Fluid Power & Flow Control | 131,000 |  |  | — |  |  | — |
Corporate and other expense, net | 59,972 |  |  | 59,806 |  |  | 63,605 |
Total operating income | 88,989 |  |  | 233,788 |  |  | 225,827 |
Interest expense, net | 36,535 |  |  | 40,188 |  |  | 23,485 |
Other income, net | (2,782 | ) |  | (881 | ) |  | (2,376 | )
Income before income taxes | $ | 55,236 |  |  | $ | 194,481 |  |  | $ | 204,718 |
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, intangible assets and right of use assets. Information by geographic area is as follows:
June 30, | 2020 |  |  | 2019 |  |  | 2018 |
Long-Lived Assets: |  |  |  |  |
United States | $ | 523,739 |  |  | $ | 474,910 |  |  | $ | 501,373 |
Canada | 23,865 |  |  | 13,291 |  |  | 50,261 |
Other Countries | 8,148 |  |  | 4,968 |  |  | 5,656 |
Total | $ | 555,752 |  |  | $ | 493,169 |  |  | $ | 557,290 |

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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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