SEGMENT INFORMATION

3 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company's reportable segments are: Service Center and Engineered Solutions. These reportable segments contain the Company's various operating segments which have been aggregated based upon similar economic and operating characteristics. The Service Center segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of production equipment and motion control infrastructure. Products primarily include industrial bearings, motors, belting, drives, couplings, pumps, linear motion products, hydraulic and pneumatic components, filtration supplies, and hoses, as well as other related supplies for general operational needs of customers’ machinery and equipment. The Engineered Solutions segment includes our operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, engineered flow control products and services, and automation technologies. The accounting policies of the Company’s reportable segments are as described in Note 1.

The Company's chief operating decision maker (CODM) is the chief executive officer. The CODM uses Segment Operating Income as the measure of segment profit and loss in measuring segment performance, determining how to allocate the Company's assets, evaluating performance in periodic reviews, and during the development of the annual budget and the regular forecasting process. The chief operating decision maker considers budget-to-actual variances on a quarterly basis, as well as segment-specific forecasting, when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses the segment's net sales in measuring segment performance.

In addition to the two reportable segments, there is a category of certain business activities and expenses, referred to as corporate & other, that does not constitute an operating segment. Corporate & other expense, net includes the cost of our corporate headquarters and corporate functions, primarily compensation and benefits, and related administrative expenses and other expenses not directly associated with any reportable segment. These corporate and other expenses reconcile segment operating income to total consolidated income before income taxes.

Three Months Ended September 30, 2025	Service Center		Engineered Solutions		Total
Total sales	$	783,848	$	433,573	$	1,217,421
Less: Inter-segment sales¹	1,374		16,524		17,898
Net sales	$	782,474	$	417,049	$	1,199,523
Less segment expenses:
Cost of sales	556,201		281,893
Selling, distribution, and administrative expense, including depreciation²	122,220		89,296
Segment operating income	$	104,053	$	45,860	$	149,913
Corporate & other expense, net					20,883
Interest expense, net					993
Other income, net					(548)
Income before income taxes					$	128,585
Three Months Ended September 30, 2024	Service Center		Engineered Solutions		Total
Total sales	$	750,345	$	361,898	$	1,112,243
Less: Inter-segment sales¹	606		12,693		13,299
Net sales	$	749,739	$	349,205	$	1,098,944
Less segment expenses:
Cost of sales	536,073		237,789
Selling, distribution, and administrative expense, including depreciation²	119,840		70,070
Segment operating income	$	93,826	$	41,346	$	135,172
Corporate & other expense, net					22,000
Interest expense, net					(627)
Other income, net					(2,281)
Income before income taxes					$	116,080

¹The Company accounts for inter-segment sales using market rates.

²Amortization of intangibles is recorded within selling, distribution, and administrative expense, and therefore included in segment operating income for all periods presented.

A reconciliation of supplemental segment financial information is as follows:

Three Months Ended	Service Center		Engineered Solutions		Total
September 30, 2025
Assets used in the business	$	1,785,052	$	1,400,422	$	3,185,474
Depreciation and amortization of property	4,235		2,251		6,486
Amortization of intangibles	730		9,473		10,203
Capital expenditures	6,328		973		7,301
September 30, 2024
Assets used in the business	$	1,894,467	$	1,108,744	$	3,003,211
Depreciation and amortization of property	4,419		1,505		5,924
Amortization of intangibles	802		6,798		7,600
Capital expenditures	4,435		1,114		5,549