Segment and Geographic Information

9 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

SEGMENT AND GEOGRAPHIC INFORMATION

The accounting policies of the Company’s reportable segments are generally the same as those used to prepare the condensed consolidated financial statements. Intercompany sales primarily from the Fluid Power Businesses segment to the Service Center Based Distribution segment of $5,369 and $5,889, in the three months ended March 31, 2014 and 2013, respectively, and $16,564 and $14,618 in the nine months ended March 31, 2014 and 2013, respectively, have been eliminated in the Segment Financial Information tables below.

Three Months Ended	Service Center Based Distribution		Fluid Power Businesses		Total
March 31, 2014
Net sales	$	492,678	$	125,328	$	618,006
Operating income for reportable segments	28,754		13,442		42,196
Depreciation and amortization of property	2,964		363		3,327
Capital expenditures	2,021		345		2,366
March 31, 2013
Net sales	$	506,727	$	114,927	$	621,654
Operating income for reportable segments	35,357		9,607		44,964
Depreciation and amortization of property	2,735		463		3,198
Capital expenditures	2,894		99		2,993

Nine Months Ended	Service Center Based Distribution		Fluid Power Businesses		Total
March 31, 2014
Net sales	$	1,450,705	$	354,555	$	1,805,260
Operating income for reportable segments	82,695		33,263		115,958
Assets used in business	879,349		217,302		1,096,651
Depreciation and amortization of property	8,951		1,168		10,119
Capital expenditures	5,755		737		6,492
March 31, 2013
Net sales	$	1,485,029	$	336,661	$	1,821,690
Operating income for reportable segments	97,445		28,758		126,203
Assets used in business	833,211		202,726		1,035,937
Depreciation and amortization of property	7,864		1,370		9,234
Capital expenditures	9,488		348		9,836

Enterprise Resource Planning system (ERP) related assets are included in assets used in business and capital expenditures within the Service Center Based Distribution segment. Expenses associated with the ERP are included in Corporate and other expense (income) net, line in the reconciliation of operating income for reportable segments to the consolidated income before income taxes table below.

A reconciliation of operating income for reportable segments to the condensed consolidated income before income taxes is as follows:

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2014			2013			2014			2013
Operating income for reportable segments	$	42,196		$	44,964		$	115,958		$	126,203
Adjustment for:
Intangible amortization—Service Center Based Distribution	1,102			1,637			4,484			4,164
Intangible amortization—Fluid Power Businesses	2,086			1,873			5,034			5,553
Corporate and other expense (income), net	(1,165		)	(2,023		)	(13,109		)	(11,878		)
Total operating income	40,173			43,477			119,549			128,364
Interest (income) expense, net	(11		)	107			(102		)	147
Other (income) expense, net	(388		)	(1,027		)	(1,749		)	(1,913		)
Income before income taxes	$	40,572		$	44,397		$	121,400		$	130,130

The change in corporate and other expense (income), net is due to changes in the amounts and levels of expenses being allocated to the segments. The expenses being allocated include corporate charges for working capital, logistics support and other items.

Net sales are presented in geographic areas based on the location of the facility shipping the product and are as follows:

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2014		2013		2014		2013
Geographic Areas:
United States	$	519,713	$	514,941	$	1,500,252	$	1,492,795
Canada	64,922		70,497		202,439		218,848
Other countries	33,371		36,216		102,569		110,047
Total	$	618,006	$	621,654	$	1,805,260	$	1,821,690

Other countries consisted of Mexico, Australia and New Zealand.