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Segment Information | 9 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The accounting policies of the Company’s reportable segments are generally the same as those used to prepare the condensed consolidated financial statements. LIFO expense of $8,205 and $7,397 in the three months ended March 31, 2023 and 2022, respectively, and $26,118 and $15,643 in the nine months ended March 31, 2023 and 2022, respectively, is recorded in cost of sales in the condensed statements of consolidated income, and is included in operating income for the related reportable segment, as the Company allocates LIFO expense between the segments. Intercompany sales, primarily from the Engineered Solutions segment to the Service Center Based Distribution segment, of $13,754 and $9,951, in the three months ended March 31, 2023 and 2022, respectively, and $35,967 and $26,942 in the nine months ended March 31, 2023 and 2022, respectively, have been eliminated in the Segment Financial Information tables below.
Three Months Ended |  | Service Center Based Distribution |  | Engineered Solutions |  | Total
March 31, 2023 |  |  |  |  |  |
Net sales |  | $ | 761,599 |  |  | $ | 370,436 |  |  | $ | 1,132,035 |
Operating income for reportable segments |  | 103,083 |  |  | 51,917 |  |  | 155,000 |
Depreciation and amortization of property |  | 4,486 |  |  | 1,079 |  |  | 5,565 |
Capital expenditures |  | 3,413 |  |  | 4,579 |  |  | 7,992 |
March 31, 2022 |  |  |  |  |  |
Net sales |  | $ | 658,998 |  |  | $ | 321,664 |  |  | $ | 980,662 |
Operating income for reportable segments |  | 81,640 |  |  | 40,586 |  |  | 122,226 |
Depreciation and amortization of property |  | 4,362 |  |  | 990 |  |  | 5,352 |
Capital expenditures |  | 3,435 |  |  | 729 |  |  | 4,164 |
Nine Months Ended |  | Service Center Based Distribution |  | Engineered Solutions |  | Total
March 31, 2023 |  |  |  |  |  |
Net sales |  | $ | 2,184,979 |  |  | $ | 1,069,741 |  |  | $ | 3,254,720 |
Operating income for reportable segments |  | 278,376 |  |  | 149,077 |  |  | 427,453 |
Assets used in business |  | 1,537,793 |  |  | 1,070,845 |  |  | 2,608,638 |
Depreciation and amortization of property |  | 13,409 |  |  | 3,189 |  |  | 16,598 |
Capital expenditures |  | 11,729 |  |  | 9,080 |  |  | 20,809 |
March 31, 2022 |  |  |  |  |  |
Net sales |  | $ | 1,847,087 |  |  | $ | 902,130 |  |  | $ | 2,749,217 |
Operating income for reportable segments |  | 213,743 |  |  | 111,817 |  |  | 325,560 |
Assets used in business |  | 1,401,236 |  |  | 982,335 |  |  | 2,383,571 |
Depreciation and amortization of property |  | 13,112 |  |  | 3,103 |  |  | 16,215 |
Capital expenditures |  | 9,571 |  |  | 2,103 |  |  | 11,674 |
A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | March 31, |  | March 31,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Operating income for reportable segments |  | $ | 155,000 |  |  | $ | 122,226 |  |  | $ | 427,453 |  |  | $ | 325,560 |
Adjustment for: |  |  |  |  |  |  |  |
Intangible amortization—Service Center Based Distribution |  | 707 |  |  | 848 |  |  | 2,195 |  |  | 2,621 |
Intangible amortization—Engineered Solutions |  | 6,963 |  |  | 7,043 |  |  | 20,994 |  |  | 21,475 |
Corporate and other expense, net |  | 20,419 |  |  | 18,492 |  |  | 57,928 |  |  | 52,830 |
Total operating income |  | 126,911 |  |  | 95,843 |  |  | 346,336 |  |  | 248,634 |
Interest expense, net |  | 4,773 |  |  | 5,852 |  |  | 17,438 |  |  | 20,249 |
Other (income) expense, net |  | (142) |  |  | 469 |  |  | 1,624 |  |  | (712) |
Income before income taxes |  | $ | 122,280 |  |  | $ | 89,522 |  |  | $ | 327,274 |  |  | $ | 229,097 |
The change in corporate and other expense, net is 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.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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