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Goodwill and Intangibles | 3 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure [Text Block] | GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill for both the Service Center Based Distribution segment and the Engineered Solutions segment for the fiscal year ended June 30, 2023 and the three month period ended September 30, 2023 are as follows:
| Service Center Based Distribution |  | Engineered Solutions |  | Total
Balance at June 30, 2022 | $ | 211,010 |  |  | $ | 352,195 |  |  | $ | 563,205 |
Goodwill acquired during the year | — |  |  | 14,517 |  |  | 14,517 |
Other, primarily currency translation | 221 |  |  | 475 |  |  | 696 |
Balance at June 30, 2023 | 211,231 |  |  | 367,187 |  |  | 578,418 |
Goodwill acquired/adjusted during the period | 7,486 |  |  | 1,249 |  |  | 8,735 |
Other, primarily currency translation | (675) |  |  | — |  |  | (675) |
Balance at September 30, 2023 | $ | 218,042 |  |  | $ | 368,436 |  |  | $ | 586,478 |
During the first quarter of fiscal 2024, the Company recorded an adjustment to the preliminary estimated fair value of intangible assets related to the AMS acquisition. The fair value of the trade name was reduced by $1,249, with a corresponding increase to goodwill of $1,249. The Company has eight (8) reporting units for which an annual goodwill impairment assessment was performed as of January 1, 2023. The Company concluded that all of the reporting units' fair values exceeded their carrying amounts by at least 20% as of January 1, 2023. At September 30, 2023 and June 30, 2023, accumulated goodwill impairment losses subsequent to fiscal year 2002 totaled $64,794 related to the Service Center Based Distribution segment and $167,605 related to the Engineered Solutions segment. 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, 2023 |  | Amount |  | Accumulated Amortization |  | Net Book Value
Finite-Lived Identifiable Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 371,613 |  |  | $ | 193,915 |  |  | $ | 177,698 |
Trade names |  | 91,006 |  |  | 33,764 |  |  | 57,242 |
Vendor relationships |  | 1,931 |  |  | 1,926 |  |  | 5 |
Other |  | 3,446 |  |  | 1,289 |  |  | 2,157 |
Total Identifiable Intangibles |  | $ | 467,996 |  |  | $ | 230,894 |  |  | $ | 237,102 |
June 30, 2023 |  | Amount |  | Accumulated Amortization |  | Net Book Value
Finite-Lived Identifiable Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 364,572 |  |  | $ | 188,804 |  |  | $ | 175,768 |
Trade names |  | 108,301 |  |  | 50,823 |  |  | 57,478 |
Vendor relationships |  | 9,861 |  |  | 9,744 |  |  | 117 |
Other |  | 3,347 |  |  | 1,161 |  |  | 2,186 |
Total Identifiable Intangibles |  | $ | 486,081 |  |  | $ | 250,532 |  |  | $ | 235,549 |
Fully amortized amounts are written off. During the three month period ended September 30, 2023, 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 |  | $ | 7,471 |  |  | 20.0
Trade names |  | 2,660 |  |  | 15.0
Other |  | 100 |  |  | 5.0
Total Identifiable Intangibles |  | $ | 10,231 |  |  | 18.5
Identifiable intangible assets with finite lives are reviewed for impairment when changes in conditions indicate carrying value may not be recoverable. Estimated future amortization expense by fiscal year (based on the Company’s identifiable intangible assets as of September 30, 2023) for the next five years is as follows: $20,500 for the remainder of 2024, $25,900 for 2025, $24,100 for 2026, $22,400 for 2027, $20,700 for 2028 and $19,300 for 2029.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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