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Goodwill and Intangibles | 3 Months Ended
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Sep. 30, 2024
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, 2024 and the three month period ended September 30, 2024 are as follows:
| Service Center Based Distribution |  | Engineered Solutions |  | Total
Balance at June 30, 2023 | $ | 211,231 |  |  | $ | 367,187 |  |  | $ | 578,418 |
Goodwill acquired during the year | 9,712 |  |  | 32,634 |  |  | 42,346 |
Other, primarily currency translation | (1,369) |  |  | — |  |  | (1,369) |
Balance at June 30, 2024 | 219,574 |  |  | 399,821 |  |  | 619,395 |
Goodwill acquired during the period | 2,827 |  |  | 2,066 |  |  | 4,893 |
Other, primarily currency translation | (71) |  |  | — |  |  | (71) |
Balance at September 30, 2024 | $ | 222,330 |  |  | $ | 401,887 |  |  | $ | 624,217 |
The Company has eight (8) reporting units for which an annual goodwill impairment assessment was performed as of January 1, 2024. Based on the assessment performed, the Company concluded that the fair value of all of the reporting units exceeded their carrying amount as of January 1, 2024, therefore no impairment exists. At September 30, 2024 and June 30, 2024, accumulated goodwill impairment losses 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, 2024 |  | Amount |  | Accumulated Amortization |  | Net Book Value
Finite-Lived Identifiable Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 397,076 |  |  | $ | 211,513 |  |  | $ | 185,563 |
Trade names |  | 88,836 |  |  | 36,399 |  |  | 52,437 |
Other |  | 6,582 |  |  | 1,838 |  |  | 4,744 |
Total Identifiable Intangibles |  | $ | 492,494 |  |  | $ | 249,750 |  |  | $ | 242,744 |
June 30, 2024 |  | Amount |  | Accumulated Amortization |  | Net Book Value
Finite-Lived Identifiable Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 394,114 |  |  | $ | 205,422 |  |  | $ | 188,692 |
Trade names |  | 88,848 |  |  | 34,891 |  |  | 53,957 |
Other |  | 4,946 |  |  | 1,725 |  |  | 3,221 |
Total Identifiable Intangibles |  | $ | 487,908 |  |  | $ | 242,038 |  |  | $ | 245,870 |
Finite-lived identifiable intangible assets are written off when they become fully amortized. During the three month period ended September 30, 2024, 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 |  | $ | 2,738 |  |  | 20.0
Other |  | 1,725 |  |  | 15.0
Total Identifiable Intangibles |  | $ | 4,463 |  |  | 18.1
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, 2024) for the next five years is as follows: $22,000 for the remainder of 2025, $27,700 for 2026, $25,600 for 2027, $23,800 for 2028, $22,100 for 2029 and $20,700 for 2030.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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