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Goodwill and Intangibles (Tables)

9 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill by reportable segment

The changes in the carrying amount of goodwill for both the Service Center Based Distribution segment and the Fluid Power & Flow Control segment for the fiscal year ended June 30, 2020 and the nine month period ended March 31, 2021 are as follows:

			Service Center Based Distribution						Fluid Power & Flow Control						Total
Balance at June 30, 2019			$	213,634					$	448,357					$	661,991
Goodwill adjusted/acquired during the period			(3,393)						14,667						11,274
Impairment			—						(131,000)						(131,000)
Other, primarily currency translation			(1,671)						—						(1,671)
Balance at June 30, 2020			$	208,570					$	332,024					$	540,594
Goodwill acquired during the period			—						15,688						15,688
Other, primarily currency translation			2,914						—						2,914
Balance at March 31, 2021			$	211,484					$	347,712					$	559,196

Schedule of Intangible Assets

The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following:

March 31, 2021						Amount						Accumulated Amortization						Net Book Value
Finite-Lived Identifiable Intangibles:
Customer relationships						$	352,720					$	137,519					$	215,201
Trade names						105,065						36,172						68,893
Vendor relationships						11,481						9,666						1,815
Other						2,070						293						1,777
Total Identifiable Intangibles						$	471,336					$	183,650					$	287,686

June 30, 2020						Amount						Accumulated Amortization						Net Book Value
Finite-Lived Identifiable Intangibles:
Customer relationships						$	426,017					$	162,965					$	263,052
Trade names						111,453						34,815						76,638
Vendor relationships						11,329						8,934						2,395
Other						2,078						948						1,130
Total Identifiable Intangibles						$	550,877					$	207,662					$	343,215

Amounts include the impact of foreign currency translation. Fully amortized or impaired amounts are written off.

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

During the nine month period ended March 31, 2021, 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						$	10,390					20.0
Trade names						3,840						15.0
Other						1,090						5.9
Total Identifiable Intangibles						$	15,320					17.7

X

- Definition

Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination.

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Paragraph 1
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Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
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-Name Accounting Standards Codification
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