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Revenue Recognition Revenue Recognition | 12 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue from Contract with Customer [Text Block] | REVENUE RECOGNITION Disaggregation of Revenues The following tables present the Company's net sales by reportable segment and by geographic areas based on the location of the facility shipping the product for the years ended June 30, 2024, 2023, and 2022. Other countries consist of Mexico, Australia, New Zealand, Singapore, and Costa Rica.
| Year Ended June 30, 2024
| Service Center Based Distribution | Engineered Solutions | Total
Geographic Areas: |  |  |
United States | $ | 2,540,427 |  | $ | 1,391,762 |  | $ | 3,932,189 |
Canada | 310,210 |  | — |  | 310,210 |
Other Countries | 205,918 |  | 31,089 |  | 237,007 |
Total | $ | 3,056,555 |  | $ | 1,422,851 |  | $ | 4,479,406 |
| Year Ended June 30, 2023
| Service Center Based Distribution | Engineered Solutions | Total
Geographic Areas: |  |  |
United States | $ | 2,441,281 |  | $ | 1,419,140 |  | $ | 3,860,421 |
Canada | 315,499 |  | — |  | 315,499 |
Other Countries | 210,062 |  | 26,812 |  | 236,874 |
Total | $ | 2,966,842 |  | $ | 1,445,952 |  | $ | 4,412,794 |
| Year Ended June 30, 2022
| Service Center Based Distribution | Engineered Solutions | Total
Geographic Areas: |  |  |
United States | $ | 2,081,566 |  | $ | 1,218,184 |  | $ | 3,299,750 |
Canada | 291,530 |  | — |  | 291,530 |
Other Countries | 192,508 |  | 26,888 |  | 219,396 |
Total | $ | 2,565,604 |  | $ | 1,245,072 |  | $ | 3,810,676 |
The following tables present the Company’s percentage of revenue by reportable segment and major customer industry for the years ended June 30, 2024, 2023, and 2022:
| Year Ended June 30, 2024
| Service Center Based Distribution |  | Engineered Solutions |  | Total
General Industry | 35.0 | % |  | 38.7 | % |  | 36.2 | %
Industrial Machinery | 8.2 | % |  | 24.2 | % |  | 13.3 | %
Food | 15.0 | % |  | 2.8 | % |  | 11.1 | %
Metals | 10.9 | % |  | 7.9 | % |  | 10.0 | %
Forest Products | 12.0 | % |  | 3.2 | % |  | 9.2 | %
Chem/Petrochem | 2.7 | % |  | 16.0 | % |  | 6.9 | %
Cement & Aggregate | 7.4 | % |  | 1.3 | % |  | 5.5 | %
Oil & Gas | 5.1 | % |  | 1.7 | % |  | 4.0 | %
Transportation | 3.7 | % |  | 4.2 | % |  | 3.8 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
| Year Ended June 30, 2023
| Service Center Based Distribution |  | Engineered Solutions |  | Total
General Industry | 34.0 | % |  | 41.2 | % |  | 36.2 | %
Industrial Machinery | 9.8 | % |  | 26.1 | % |  | 15.2 | %
Food | 13.2 | % |  | 2.7 | % |  | 9.8 | %
Metals | 10.6 | % |  | 7.5 | % |  | 9.6 | %
Forest Products | 12.1 | % |  | 2.8 | % |  | 9.1 | %
Chem/Petrochem | 2.8 | % |  | 13.9 | % |  | 6.4 | %
Cement & Aggregate | 7.8 | % |  | 1.3 | % |  | 5.7 | %
Oil & Gas | 6.0 | % |  | 1.4 | % |  | 4.5 | %
Transportation | 3.7 | % |  | 3.1 | % |  | 3.5 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
| Year Ended June 30, 2022
| Service Center Based Distribution |  | Engineered Solutions |  | Total
General Industry | 34.9 | % |  | 40.1 | % |  | 36.7 | %
Industrial Machinery | 10.3 | % |  | 28.3 | % |  | 16.2 | %
Food | 12.6 | % |  | 2.5 | % |  | 9.3 | %
Metals | 11.2 | % |  | 7.4 | % |  | 9.9 | %
Forest Products | 10.8 | % |  | 2.4 | % |  | 8.0 | %
Chem/Petrochem | 3.1 | % |  | 13.8 | % |  | 6.6 | %
Cement & Aggregate | 7.6 | % |  | 1.0 | % |  | 5.5 | %
Oil & Gas | 5.4 | % |  | 1.2 | % |  | 4.0 | %
Transportation | 4.1 | % |  | 3.3 | % |  | 3.8 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
The following tables present the Company’s percentage of revenue by reportable segment and product line for the years ended June 30, 2024, 2023, and 2022:
| Year Ended June 30, 2024
| Service Center Based Distribution |  | Engineered Solutions |  | Total
Power Transmission | 37.7 | % |  | 11.3 | % |  | 29.4 | %
Fluid Power | 14.1 | % |  | 36.3 | % |  | 21.1 | %
General Maintenance; Hose Products | 22.1 | % |  | 17.2 | % |  | 20.5 | %
Bearings, Linear & Seals | 26.1 | % |  | 0.4 | % |  | 18.0 | %
Specialty Flow Control | — | % |  | 34.8 | % |  | 11.0 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
| Year Ended June 30, 2023
| Service Center Based Distribution |  | Engineered Solutions |  | Total
Power Transmission | 37.3 | % |  | 10.6 | % |  | 28.5 | %
Fluid Power | 13.3 | % |  | 34.3 | % |  | 20.2 | %
General Maintenance; Hose Products | 21.1 | % |  | 19.3 | % |  | 20.6 | %
Bearings, Linear & Seals | 28.3 | % |  | 0.4 | % |  | 19.1 | %
Specialty Flow Control | — | % |  | 35.4 | % |  | 11.6 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
| Year Ended June 30, 2022
| Service Center Based Distribution |  | Engineered Solutions |  | Total
Power Transmission | 37.1 | % |  | 10.6 | % |  | 28.4 | %
Fluid Power | 12.8 | % |  | 37.2 | % |  | 20.8 | %
General Maintenance; Hose Products | 20.9 | % |  | 18.9 | % |  | 20.3 | %
Bearings, Linear & Seals | 29.2 | % |  | 0.4 | % |  | 19.8 | %
Specialty Flow Control | — | % |  | 32.9 | % |  | 10.7 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | %
Contract Assets The Company’s contract assets consist of un-billed amounts resulting from contracts for which revenue is recognized over time using the cost-to-cost method, and for which revenue recognized exceeds the amount billed to the customer. Activity related to contract assets, which are included in other current assets on the consolidated balance sheet, is as follows:
| June 30, 2024 | June 30, 2023 | $ Change | % Change
Contract assets | $ | 12,648 |  | $ | 17,911 |  | $ | (5,263) |  | (29.4) | %
The difference between the opening and closing balances of the Company's contract assets primarily results from the timing difference between the Company's performance and when the customer is billed.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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