Segment Information (Tables)

6 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment financial information

Three Months Ended	Service Center Based Distribution		Fluid Power & Flow Control		Total
December 31, 2021
Net sales	$	587,218	$	289,656	$	876,874
Operating income for reportable segments	67,450		36,426		103,876
Depreciation and amortization of property	4,371		1,065		5,436
Capital expenditures	3,039		850		3,889
December 31, 2020
Net sales	$	515,690	$	235,597	$	751,287
Operating income for reportable segments	42,654		26,647		69,301
Depreciation and amortization of property	4,252		957		5,209
Capital expenditures	4,442		410		4,852

Six Months Ended	Service Center Based Distribution		Fluid Power & Flow Control		Total
December 31, 2021
Net sales	$	1,188,089	$	580,466	$	1,768,555
Operating income for reportable segments	132,103		71,231		203,334
Assets used in business	1,265,567		960,142		2,225,709
Depreciation and amortization of property	8,750		2,113		10,863
Capital expenditures	6,136		1,374		7,510
December 31, 2020
Net sales	$	1,028,974	$	470,120	$	1,499,094
Operating income for reportable segments	92,555		52,508		145,063
Assets used in business	1,257,457		983,560		2,241,017
Depreciation and amortization of property	8,647		1,914		10,561
Capital expenditures	7,530		919		8,449

Reconciliation of operating income for reportable segments to the consolidated income before income taxes

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

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2021		2020		2021		2020
Operating income for reportable segments	$	103,876	$	69,301	$	203,334	$	145,063
Adjustment for:
Intangible amortization—Service Center Based Distribution	881		982		1,773		3,563
Intangible amortization—Fluid Power & Flow Control	7,203		7,293		14,432		14,438
Impairment—Service Center Based Distribution	—		49,528		—		49,528
Corporate and other expense, net	17,615		13,920		34,338		27,648
Total operating income (loss)	78,177		(2,422)		152,791		49,886
Interest expense, net	7,007		7,658		14,397		15,311
Other (income) expense, net	(869)		88		(1,181)		(89)
Income (loss) before income taxes	$	72,039	$	(10,168)	$	139,575	$	34,664