Segment Information (Tables)

12 Months Ended

Jun. 30, 2022

Segment Financial Information


	Service Center Based Distribution		Fluid Power & Flow Control		Total
Year Ended June 30, 2022
Net sales	$	2,565,604	$	1,245,072	$	3,810,676
Operating income for reportable segments	301,881		156,644		458,525
Assets used in the business	1,455,293		997,295		2,452,588
Depreciation and amortization of property	17,509		4,167		21,676
Capital expenditures	14,486		3,638		18,124
Year Ended June 30, 2021
Net sales	$	2,199,533	$	1,036,386	$	3,235,919
Operating income for reportable segments	225,206		121,782		346,988
Assets used in the business	1,332,720		939,087		2,271,807
Depreciation and amortization of property	17,155		3,625		20,780
Capital expenditures	13,735		2,117		15,852
Year Ended June 30, 2020
Net sales	$	2,241,949	$	1,003,703	$	3,245,652
Operating income for reportable segments	211,667		109,847		321,514
Assets used in the business	1,314,011		969,540		2,283,551
Depreciation and amortization of property	17,133		4,063		21,196
Capital expenditures	17,063		3,052		20,115

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


Year Ended June 30,	2022		2021		2020
Operating income for reportable segments	$	458,525	$	346,988	$	321,514
Adjustments for:
Intangible amortization — Service Center Based Distribution	3,435		5,426		12,385
Intangible amortization — Fluid Power & Flow Control	28,444		28,938		29,168
Impairment — Service Center Based Distribution	—		49,528		—
Impairment — Fluid Power & Flow Control	—		—		131,000
Corporate and other expense, net	68,788		57,642		59,972
Total operating income	357,858		205,454		88,989
Interest expense, net	26,263		30,592		36,535
Other expense (income), net	1,805		(2,200)		(2,782)
Income before income taxes	$	329,790	$	177,062	$	55,236