Revenue Recognition Revenue Recognition

12 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE RECOGNITION

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, 2022, 2021 and 2020. Other countries consist of Mexico, Australia, New Zealand, and Singapore.

	Year Ended June 30, 2022
	Service Center Based Distribution		Fluid Power & Flow Control		Total
Geographic Areas:
United States	$	2,081,566	$	1,218,184	$	3,299,750
Canada	291,530		—		291,530
Other Countries	192,508		26,888		219,396
Total	$	2,565,604	$	1,245,072	$	3,810,676

	Year Ended June 30, 2021
	Service Center Based Distribution		Fluid Power & Flow Control		Total
Geographic Areas:
United States	$	1,768,965	$	1,013,894	$	2,782,859
Canada	255,360		—		255,360
Other Countries	175,208		22,492		197,700
Total	$	2,199,533	$	1,036,386	$	3,235,919

	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

The following tables present the Company’s percentage of revenue by reportable segment and major customer industry for the years ended June 30, 2022, 2021, and 2020:

	Year Ended June 30, 2022
	Service Center Based Distribution		Fluid Power & Flow Control		Total
General Industry	34.9	%	40.1	%	36.7	%
Industrial Machinery	10.3	%	28.3	%	16.2	%
Metals	11.2	%	7.4	%	9.9	%
Food	12.6	%	2.5	%	9.3	%
Forest Products	10.8	%	2.4	%	8.0	%
Chem/Petrochem	3.1	%	13.8	%	6.6	%
Cement & Aggregate	7.6	%	1.0	%	5.5	%
Oil & Gas	5.4	%	1.2	%	4.0	%
Transportation	4.1	%	3.3	%	3.8	%
Total	100.0	%	100.0	%	100.0	%

	Year Ended June 30, 2021
	Service Center Based Distribution		Fluid Power & Flow Control		Total
General Industry	35.8	%	40.0	%	37.2	%
Industrial Machinery	9.8	%	26.8	%	15.2	%
Metals	10.5	%	6.8	%	9.3	%
Food	13.5	%	2.9	%	10.1	%
Forest Products	10.7	%	2.9	%	8.2	%
Chem/Petrochem	3.3	%	13.6	%	6.6	%
Cement & Aggregate	7.9	%	1.1	%	5.7	%
Oil & Gas	3.9	%	1.1	%	3.0	%
Transportation	4.6	%	4.8	%	4.7	%
Total	100.0	%	100.0	%	100.0	%

	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	%
Cement & Aggregate	7.3	%	1.0	%	5.4	%
Oil & Gas	7.5	%	1.6	%	5.7	%
Transportation	4.6	%	4.4	%	4.5	%
Total	100.0	%	100.0	%	100.0	%

The following tables present the Company’s percentage of revenue by reportable segment and product line for the years ended June 30, 2022, 2021, and 2020:

	Year Ended June 30, 2022
	Service Center Based Distribution		Fluid Power & Flow Control		Total
Power Transmission	37.1	%	10.6	%	28.4	%
Fluid Power	12.8	%	37.2	%	20.8	%
General Maintenance; Hose Products	20.9	%	18.9	%	20.3	%
Bearings, Linear & Seals	29.2	%	0.4	%	19.8	%
Specialty Flow Control	—	%	32.9	%	10.7	%
Total	100.0	%	100.0	%	100.0	%

	Year Ended June 30, 2021
	Service Center Based Distribution		Fluid Power & Flow Control		Total
Power Transmission	37.3	%	7.5	%	27.8	%
Fluid Power	13.2	%	38.0	%	21.2	%
General Maintenance; Hose Products	20.5	%	16.9	%	19.3	%
Bearings, Linear & Seals	29.0	%	0.4	%	19.8	%
Specialty Flow Control	—	%	37.2	%	11.9	%
Total	100.0	%	100.0	%	100.0	%

	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	%

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, 2022		June 30, 2021		$ Change		% Change
Contract assets	$	18,050	$	15,178	$	2,872	18.9	%

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.