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Segment Information | 12 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATIONThe Company's reportable segments are: Service Center Based Distribution and Engineered Solutions (formerly known as Fluid Power & Flow Control). The Company changed the reportable segment name to Engineered Solutions in the first quarter of fiscal 2023. There was no change in the composition of either reportable segment. 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 Engineered Solutions 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. This segment also includes our operations that focus on advanced automation solutions including machine vision, robotics, motion control, and smart technologies. The accounting policies of the Company’s reportable segments are generally the same as those described in note 1. Intercompany sales, primarily from the Engineered Solutions segment to the Service Center Based Distribution segment of $48,450, $37,163, and $31,615, in 2023, 2022, and 2021, respectively, have been eliminated in the following table. Segment Financial Information
| Service Center Based Distribution |  | Engineered Solutions |  | Total
Year Ended June 30, 2023 |  |  |  |  |
Net sales | $ | 2,966,842 |  |  | $ | 1,445,952 |  |  | $ | 4,412,794 |
Operating income for reportable segments | 373,439 |  |  | 203,404 |  |  | 576,843 |
Assets used in the business | 1,736,393 |  |  | 1,006,939 |  |  | 2,743,332 |
Depreciation and amortization of property | 17,932 |  |  | 4,334 |  |  | 22,266 |
Capital expenditures | 15,390 |  |  | 11,086 |  |  | 26,476 |
Year Ended June 30, 2022 |  |  |  |  |
Net sales | $ | 2,565,604 |  |  | $ | 1,245,072 |  |  | $ | 3,810,676 |
Operating income for reportable segments | 301,881 |  |  | 156,644 |  |  | 458,525 |
Assets used in the business | 1,455,293 |  |  | 997,295 |  |  | 2,452,588 |
Depreciation and amortization of property | 17,509 |  |  | 4,167 |  |  | 21,676 |
Capital expenditures | 14,486 |  |  | 3,638 |  |  | 18,124 |
Year Ended June 30, 2021 |  |  |  |  |
Net sales | $ | 2,199,533 |  |  | $ | 1,036,386 |  |  | $ | 3,235,919 |
Operating income for reportable segments | 225,206 |  |  | 121,782 |  |  | 346,988 |
Assets used in the business | 1,332,720 |  |  | 939,087 |  |  | 2,271,807 |
Depreciation and amortization of property | 17,155 |  |  | 3,625 |  |  | 20,780 |
Capital expenditures | 13,735 |  |  | 2,117 |  |  | 15,852 |
A reconciliation of operating income for reportable segments to the consolidated income before income taxes is as follows:
Year Ended June 30, | 2023 |  | 2022 |  | 2021
Operating income for reportable segments | $ | 576,843 |  |  | $ | 458,525 |  |  | $ | 346,988 |
Adjustments for: |  |  |  |  |
Intangible amortization — Service Center Based Distribution | 2,857 |  |  | 3,435 |  |  | 5,426 |
Intangible amortization — Engineered Solutions | 27,948 |  |  | 28,444 |  |  | 28,938 |
Impairment — Service Center Based Distribution | — |  |  | — |  |  | 49,528 |
Corporate and other expense, net | 72,887 |  |  | 68,788 |  |  | 57,642 |
Total operating income | 473,151 |  |  | 357,858 |  |  | 205,454 |
Interest expense, net | 21,639 |  |  | 26,263 |  |  | 30,592 |
Other expense (income), net | 1,701 |  |  | 1,805 |  |  | (2,200) |
Income before income taxes | $ | 449,811 |  |  | $ | 329,790 |  |  | $ | 177,062 |
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 right of use assets. Information by geographic area is as follows:
June 30, | 2023 |  | 2022 |  | 2021
Long-Lived Assets: |  |  |  |  |
United States | $ | 176,025 |  |  | $ | 178,522 |  |  | $ | 173,335 |
Canada | 29,817 |  |  | 31,728 |  |  | 21,458 |
Other Countries | 9,876 |  |  | 9,698 |  |  | 7,907 |
Total | $ | 215,718 |  |  | $ | 219,948 |  |  | $ | 202,700 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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