Segment and Geographic Information

9 Months Ended

Mar. 31, 2017

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 $6,757 and $5,574, in the three months ended March 31, 2017 and 2016, respectively, and $17,285 and $16,032 in the nine months ended March 31, 2017 and 2016, respectively, have been eliminated in the Segment Financial Information tables below.

Three Months Ended	Service Center Based Distribution		Fluid Power Businesses		Total
March 31, 2017
Net sales	$	554,933	$	124,371	$	679,304
Operating income for reportable segments	34,258		14,052		48,310
Depreciation and amortization of property	3,556		321		3,877
Capital expenditures	3,218		1,859		5,077
March 31, 2016
Net sales	$	524,074	$	109,098	$	633,172
Operating income for reportable segments	22,465		9,701		32,166
Depreciation and amortization of property	3,710		321		4,031
Capital expenditures	3,472		232		3,704

Nine Months Ended	Service Center Based Distribution		Fluid Power Businesses		Total
March 31, 2017
Net sales	$	1,569,204	$	343,071	$	1,912,275
Operating income for reportable segments	80,540		37,031		117,571
Assets used in business	1,120,403		226,288		1,346,691
Depreciation and amortization of property	10,398		966		11,364
Capital expenditures	9,460		2,327		11,787
March 31, 2016
Net sales	$	1,565,587	$	319,835	$	1,885,422
Operating income for reportable segments	79,767		28,708		108,475
Assets used in business	1,124,228		210,111		1,334,339
Depreciation and amortization of property	11,023		1,018		12,041
Capital expenditures	8,783		658		9,441

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,
	2017			2016			2017			2016
Operating income for reportable segments	$	48,310		$	32,166		$	117,571		$	108,475
Adjustment for:
Intangible amortization—Service Center Based Distribution	4,672			5,284			14,104			14,568
Intangible amortization—Fluid Power Businesses	1,384			1,457			4,283			4,497
Goodwill Impairment—Service Center Based Distribution	—			64,794			—			64,794
Corporate and other (income) expense, net	(3,213		)	(6,337		)	(27,157		)	(21,740		)
Total operating income (loss)	45,467			(33,032		)	126,341			46,356
Interest expense, net	2,165			2,359			6,411			6,704
Other (income) expense, net	(47		)	65			(656		)	1,124
Income (loss) before income taxes	$	43,349		$	(35,456	)	$	120,586		$	38,528

The change in corporate and other (income) expense, net is due to changes in the amounts and levels of certain supplier support benefits and 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,
	2017		2016		2017		2016
Geographic Areas:
United States	$	576,211	$	537,931	$	1,612,772	$	1,585,699
Canada	65,527		60,553		190,312		194,434
Other countries	37,566		34,688		109,191		105,289
Total	$	679,304	$	633,172	$	1,912,275	$	1,885,422

Other countries consist of Mexico, Australia and New Zealand.