XML 31 R21.htm IDEA: XBRL DOCUMENT v3.21.2

Goodwill and Intangibles (Tables)

3 Months Ended

Sep. 30, 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, 2021 and the three month period ended September 30, 2021 are as follows:

			Service Center Based Distribution						Fluid Power & Flow Control						Total
Balance at June 30, 2020			$	208,570					$	332,024					$	540,594
Goodwill acquired during the year			—						15,757						15,757
Other, primarily currency translation			3,726						—						3,726
Balance at June 30, 2021			212,296						347,781						560,077
Goodwill acquired during the period			—						3,267						3,267
Other, primarily currency translation			(1,018)						465						(553)
Balance at September 30, 2021			$	211,278					$	351,513					$	562,791

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:

September 30, 2021						Amount						Accumulated Amortization						Net Book Value
Finite-Lived Identifiable Intangibles:
Customer relationships						$	354,332					$	149,454					$	204,878
Trade names						105,621						39,349						66,272
Vendor relationships						11,414						10,018						1,396
Other						2,321						457						1,864
Total Identifiable Intangibles						$	473,688					$	199,278					$	274,410

June 30, 2021						Amount						Accumulated Amortization						Net Book Value
Finite-Lived Identifiable Intangibles:
Customer relationships						$	353,028					$	143,862					$	209,166
Trade names						104,780						37,626						67,154
Vendor relationships						11,469						9,859						1,610
Other						2,070						372						1,698
Total Identifiable Intangibles						$	471,347					$	191,719					$	279,628

Fully amortized amounts are written off.

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

During the three month period ended September 30, 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						$	1,884					20.0
Trade names						879						15.0
Other						251						6.5
Total Identifiable Intangibles						$	3,014					17.4

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

+ Details

Name:	us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

+ Details

Name:	us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

+ Details

Name:	us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration