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Segment Information | 12 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company's reportable segments are: Service Center Based Distribution and Engineered Solutions. 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 $52,574, $48,450, and $37,163, in 2024, 2023, and 2022, respectively, have been eliminated in the following table. Segment Financial Information
| Service Center Based Distribution |  | Engineered Solutions |  | Total
Year Ended June 30, 2024 |  |  |  |  |
Net sales | $ | 3,056,555 |  |  | $ | 1,422,851 |  |  | $ | 4,479,406 |
Operating income for reportable segments | 400,182 |  |  | 206,844 |  |  | 607,026 |
Assets used in the business | 1,865,269 |  |  | 1,086,641 |  |  | 2,951,910 |
Depreciation and amortization of property | 17,700 |  |  | 5,731 |  |  | 23,431 |
Capital expenditures | 18,040 |  |  | 6,824 |  |  | 24,864 |
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 |
A reconciliation of operating income for reportable segments to the consolidated income before income taxes is as follows:
Year Ended June 30, | 2024 |  | 2023 |  | 2022
Operating income for reportable segments | $ | 607,026 |  |  | $ | 576,843 |  |  | $ | 458,525 |
Adjustments for: |  |  |  |  |
Intangible amortization — Service Center Based Distribution | 3,188 |  |  | 2,857 |  |  | 3,435 |
Intangible amortization — Engineered Solutions | 25,735 |  |  | 27,948 |  |  | 28,444 |
Corporate and other expense, net | 82,280 |  |  | 72,887 |  |  | 68,788 |
Total operating income | 495,823 |  |  | 473,151 |  |  | 357,858 |
Interest expense, net | 2,831 |  |  | 21,639 |  |  | 26,263 |
Other (income) expense, net | (5,138) |  |  | 1,701 |  |  | 1,805 |
Income before income taxes | $ | 498,130 |  |  | $ | 449,811 |  |  | $ | 329,790 |
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 composed of the net book value of property and right of use assets. Information by geographic area is as follows:
June 30, | 2024 |  | 2023
Long-Lived Assets: |  |  |
United States | $ | 209,987 |  |  | $ | 176,025 |
Canada | 26,436 |  |  | 29,817 |
Other Countries | 15,393 |  |  | 9,876 |
Total | $ | 251,816 |  |  | $ | 215,718 |

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- Definition The entire disclosure for reporting segments including data and tables. 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