XML 28 R20.htm IDEA: XBRL DOCUMENT v3.22.1
Revenue Recognition Revenue Recognition (Tables)
 9 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from External Customers by Geographic Areas [Table Text Block]
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 three and nine months ended March 31, 2022 and 2021. Other countries consist of Mexico, Australia, New Zealand, and Singapore.
Three Months Ended March 31,
20222021
Service Center Based DistributionFluid Power & Flow ControlTotalService Center Based DistributionFluid Power & Flow ControlTotal
Geographic Areas:
United States$541,622 $314,626 $856,248 $461,945 $262,672 $724,617 
Canada70,493 — 70,493 66,146 — 66,146 
Other countries46,883 7,038 53,921 44,801 5,373 50,174 
Total$658,998 $321,664 $980,662 $572,892 $268,045 $840,937 
Nine Months Ended March 31,
20222021
Service Center Based DistributionFluid Power & Flow ControlTotalService Center Based DistributionFluid Power & Flow ControlTotal
Geographic Areas:
United States$1,495,198 $882,025 $2,377,223 $1,294,643 $721,845 $2,016,488 
Canada211,322 — 211,322 180,851 — 180,851 
Other countries140,567 20,105 160,672 126,372 16,320 142,692 
Total$1,847,087 $902,130 $2,749,217 $1,601,866 $738,165 $2,340,031 
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 three and nine months ended March 31, 2022 and 2021:
Three Months Ended March 31,
 20222021
Service Center Based DistributionFluid Power & Flow ControlTotalService Center Based DistributionFluid Power & Flow ControlTotal
General Industry35.2 %40.5 %36.8 %35.1 %41.1 %37.0 %
Industrial Machinery10.6 %27.9 %16.3 %10.1 %26.7 %15.4 %
Metals11.4 %7.7 %10.2 %10.9 %6.9 %9.6 %
Food12.6 %2.7 %9.4 %13.2 %2.6 %9.8 %
Forest Products10.8 %2.1 %7.9 %10.9 %2.7 %8.3 %
Chem/Petrochem2.9 %13.3 %6.3 %3.2 %13.5 %6.5 %
Cement & Aggregate7.1 %1.1 %5.2 %8.1 %1.1 %5.9 %
Oil & Gas5.5 %1.1 %4.1 %3.8 %1.1 %2.9 %
Transportation3.9 %3.6 %3.8 %4.7 %4.3 %4.6 %
Total100.0 %100.0 %100.0 %100.0 %100.0 %100.0 %
Nine Months Ended March 31,
 20222021
Service Center Based DistributionFluid Power & Flow ControlTotalService Center Based DistributionFluid Power & Flow ControlTotal
General Industry34.8 %40.1 %36.5 %35.6 %40.1 %36.9 %
Industrial Machinery10.5 %28.6 %16.4 %9.6 %26.6 %15.0 %
Metals11.2 %7.4 %10.0 %10.5 %6.8 %9.4 %
Food12.6 %2.5 %9.3 %13.8 %2.9 %10.3 %
Forest Products10.6 %2.2 %7.9 %10.9 %2.9 %8.4 %
Chem/Petrochem3.2 %13.6 %6.6 %3.4 %13.7 %6.6 %
Cement & Aggregate7.6 %1.1 %5.4 %7.8 %1.1 %5.7 %
Oil & Gas5.4 %1.2 %4.0 %3.7 %1.1 %2.9 %
Transportation4.1 %3.3 %3.9 %4.7 %4.8 %4.8 %
Total100.0 %100.0 %100.0 %100.0 %100.0 %100.0 %
The following tables present the Company’s percentage of revenue by reportable segment and product line for the three and nine months ended March 31, 2022 and 2021:
Three Months Ended March 31,
 20222021
Service Center Based DistributionFluid Power & Flow ControlTotalService Center Based DistributionFluid Power & Flow ControlTotal
Power Transmission36.3 %11.5 %28.2 %37.2 %7.7 %27.8 %
Fluid Power12.7 %36.5 %20.5 %13.4 %38.3 %21.3 %
General Maintenance: Hose Products & Other21.1 %18.8 %20.4 %20.5 %18.8 %20.0 %
Bearings, Linear & Seals29.9 %0.5 %20.2 %28.9 %0.2 %19.7 %
Specialty Flow Control— %32.7 %10.7 %— %35.0 %11.2 %
Total100 %100 %100 %100 %100 %100 %
Nine Months Ended March 31,
 20222021
Service Center Based DistributionFluid Power & Flow ControlTotalService Center Based DistributionFluid Power & Flow ControlTotal
Power Transmission36.8 %10.7 %28.3 %37.4 %7.8 %28.0 %
Fluid Power12.8 %37.1 %20.8 %13.3 %38.2 %21.1 %
General Maintenance; Hose Products & Other21.1 %19.2 %20.4 %20.4 %16.0 %19.1 %
Bearings, Linear & Seals29.3 %0.5 %19.8 %28.9 %0.4 %19.9 %
Specialty Flow Control— %32.5 %10.7 %— %37.6 %11.9 %
Total100 %100 %100 %100 %100 %100 %
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 condensed consolidated balance sheet, is as follows:
March 31, 2022June 30, 2021$ Change% Change
Contract assets$16,400 $15,178 $1,222 8.1 %
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.