v3.25.4
SEGMENT INFORMATION
 6 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company's reportable segments are: Service Center 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 segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of production equipment and motion control infrastructure. 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, engineered flow control products and services, and automation technologies. The accounting policies of the Company’s reportable segments are as described in Note 1.
The Company's chief operating decision maker (CODM) is the chief executive officer. The CODM uses Segment Operating Income as the measure of segment profit and loss in measuring segment performance, determining how to
allocate the Company's assets, evaluating performance in periodic reviews, and during the development of the annual budget and the regular forecasting process. The chief operating decision maker considers budget-to-actual variances on a quarterly basis, as well as segment-specific forecasting, when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses the segment's net sales in measuring segment performance.
In addition to the two reportable segments, there is a category of certain business activities and expenses, referred to as corporate & other, that does not constitute an operating segment. Corporate & other expense, net includes the cost of our corporate headquarters and corporate functions, primarily compensation and benefits, and related administrative expenses and other expenses not directly associated with any reportable segment. These corporate and other expenses reconcile segment operating income to total consolidated income before income taxes.
Three Months Ended December 31, 2025Service CenterEngineered SolutionsTotal
Total sales$748,322 $433,138 $1,181,460 
Less: Inter-segment sales¹
999 17,438 18,437 
Net sales$747,323 $415,700 $1,163,023 
Less segment expenses:
Cost of sales529,832 279,857 
Selling, distribution, and administrative expense, including depreciation²
123,221 87,962 
Segment operating income$94,270 $47,881 $142,151 
Corporate & other expense, net18,942 
Interest expense, net942 
Other income, net(505)
Income before income taxes$122,772 
Three Months Ended December 31, 2024Service CenterEngineered SolutionsTotal
Total sales$724,450 $363,005 $1,087,455 
Less: Inter-segment sales¹
623 13,831 14,454 
Net sales$723,827 $349,174 $1,073,001 
Less segment expenses:
Cost of sales511,210 233,741 
Selling, distribution, and administrative expense, including depreciation²
120,645 66,654 
Segment operating income$91,972 $48,779 $140,751 
Corporate & other expense, net19,881 
Interest expense, net(936)
Other income, net(755)
Income before income taxes$122,561 
Six Months Ended December 31, 2025Service CenterEngineered SolutionsTotal
Total sales$1,532,170 $866,711 $2,398,881 
Less: Inter-segment sales¹
2,373 33,962 36,335 
Net sales$1,529,797 $832,749 $2,362,546 
Less segment expenses:
Cost of sales1,086,033 561,750 
Selling, distribution, and administrative expense, including depreciation²
245,441 177,258 
Segment operating income$198,323 $93,741 $292,064 
Corporate & other expense, net39,825 
Interest expense, net1,935 
Other income, net(1,053)
Income before income taxes$251,357 
Six Months Ended December 31, 2024Service CenterEngineered SolutionsTotal
Total sales$1,474,796 $724,902 $2,199,698 
Less: Inter-segment sales¹
1,230 26,523 27,753 
Net sales$1,473,566 $698,379 $2,171,945 
Less segment expenses:
Cost of sales1,047,283 471,530 
Selling, distribution, and administrative expense, including depreciation²
240,485 136,724 
Segment operating income$185,798 $90,125 $275,923 
Corporate & other expense, net41,881 
Interest expense, net(1,563)
Other income, net(3,036)
Income before income taxes$238,641 
¹The Company accounts for inter-segment sales using market rates.
²Amortization of intangibles is recorded within selling, distribution, and administrative expense, and therefore included in segment operating income for all periods presented.
A reconciliation of supplemental segment financial information is as follows:
Three Months EndedService CenterEngineered SolutionsTotal
December 31, 2025
Depreciation and amortization of property$4,306 $2,284 $6,590 
Amortization of intangibles713 9,413 10,126 
Capital expenditures4,391 1,886 6,277 
December 31, 2024
Depreciation and amortization of property$4,383 $1,543 $5,926 
Amortization of intangibles812 6,755 7,567 
Capital expenditures4,644 553 5,197 

Six Months EndedService CenterEngineered SolutionsTotal
December 31, 2025
Assets used in the business$1,781,661 $1,377,661 $3,159,322 
Depreciation and amortization of property8,541 4,535 13,076 
Amortization of intangibles1,443 18,886 20,329 
Capital expenditures10,719 2,859 13,578 
December 31, 2024
Assets used in the business$1,588,471 $1,456,170 $3,044,641 
Depreciation and amortization of property8,802 3,048 11,850 
Amortization of intangibles1,614 13,553 15,167 
Capital expenditures9,079 1,667 10,746