XML 42 R27.htm IDEA: XBRL DOCUMENT v3.20.2
Revenue Recognition Revenue Recognition (Tables)
12 Months Ended
Jun. 30, 2020
Disaggregation of Revenue [Line Items]  
Revenue from External Customers by Geographic Areas [Table Text Block]
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, 2020, 2019 and 2018. Other countries consist of Mexico, Australia, New Zealand, and Singapore.
 
Year Ended June 30, 2020
 
Service Center Based Distribution

Fluid Power & Flow Control

Total

Geographic Areas:
 
 
 
United States
$
1,833,275

$
986,125

$
2,819,400

Canada
248,610


248,610

Other countries
160,064

17,578

177,642

Total
$
2,241,949

$
1,003,703

$
3,245,652


 
Year Ended June 30, 2019
 
Service Center Based Distribution

Fluid Power & Flow Control

Total

Geographic Areas:
 
 
 
United States
$
2,009,479

$
1,007,280

$
3,016,759

Canada
271,305


271,305

Other countries
172,121

12,554

184,675

Total
$
2,452,905

$
1,019,834

$
3,472,739

 
Year Ended June 30, 2018
 
Service Center Based Distribution

Fluid Power & Flow Control

Total

Geographic Areas:
 
 
 
United States
$
1,903,388

$
711,653

$
2,615,041

Canada
273,622


273,622

Other countries
169,408

15,203

184,611

Total
$
2,346,418

$
726,856

$
3,073,274


Disaggregation of Revenue [Table Text Block]
The following tables present the Company’s percentage of revenue by reportable segment and product line for the years ended June 30, 2020 and 2019:
 
Year Ended June 30, 2020
 
Service Center Based Distribution

 
Fluid Power & Flow Control

 
Total

Power Transmission
35.4
%
 
9.5
%
 
27.4
%
Fluid Power
13.4
%
 
39.0
%
 
21.3
%
General Maintenance; Hose Products
24.6
%
 
11.7
%
 
20.6
%
Bearings, Linear & Seals
26.6
%
 
0.3
%
 
18.5
%
Specialty Flow Control
%
 
39.5
%
 
12.2
%
Total
100.0
%
 
100.0
%
 
100.0
%
 
Year Ended June 30, 2019
 
Service Center Based Distribution

 
Fluid Power & Flow Control

 
Total

Power Transmission
33.9
%
 
1.6
%
 
24.4
%
Fluid Power
13.5
%
 
39.4
%
 
21.1
%
General Maintenance; Hose Products
25.1
%
 
5.3
%
 
19.3
%
Bearings, Linear & Seals
27.5
%
 
0.3
%
 
19.5
%
Specialty Flow Control
%
 
53.4
%
 
15.7
%
Total
100.0
%
 
100.0
%
 
100.0
%

Contract with Customer, Asset and Liability [Table Text Block]
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, 2020

June 30, 2019

$ Change

% Change

Contract assets
$
8,435

$
8,920

$
(485
)
(5.4
)%
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.
Commercial and Industrial Sector [Member]  
Disaggregation of Revenue [Line Items]  
Disaggregation of Revenue [Table Text Block]
The following tables present the Company’s percentage of revenue by reportable segment and major customer industry for the years ended June 30, 2020 and 2019:
 
Year Ended June 30, 2020
 
Service Center Based Distribution

 
Fluid Power & Flow Control

 
Total

General Industry
35.0
%
 
41.2
%
 
36.8
%
Industrial Machinery
9.7
%
 
24.4
%
 
14.3
%
Metals
11.1
%
 
7.2
%
 
9.9
%
Food
12.2
%
 
3.1
%
 
9.4
%
Forest Products
9.3
%
 
3.7
%
 
7.6
%
Chem/Petrochem
3.3
%
 
13.4
%
 
6.4
%
Oil & Gas
7.5
%
 
1.6
%
 
5.7
%
Cement & Aggregate
7.3
%
 
1.0
%
 
5.4
%
Transportation
4.6
%
 
4.4
%
 
4.5
%
Total
100.0
%
 
100.0
%
 
100.0
%
 
Year Ended June 30, 2019
 
Service Center Based Distribution

 
Fluid Power & Flow Control

 
Total

General Industry
33.7
%
 
43.0
%
 
36.3
%
Industrial Machinery
10.4
%
 
21.8
%
 
13.8
%
Metals
12.6
%
 
9.4
%
 
11.6
%
Food
10.6
%
 
2.7
%
 
8.3
%
Forest Products
8.0
%
 
3.1
%
 
6.6
%
Chem/Petrochem
3.1
%
 
13.8
%
 
6.3
%
Oil & Gas
10.1
%
 
2.1
%
 
7.8
%
Cement & Aggregate
6.7
%
 
1.0
%
 
5.0
%
Transportation
4.8
%
 
3.1
%
 
4.3
%
Total
100.0
%
 
100.0
%
 
100.0
%