Business Segment Information

12 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

By Industry

(Dollars in thousands)	2013		2012		2011
Net Sales:
Industrial:
North America	$	5,050,604	$	5,041,106	$	4,516,510
International	4,867,758		5,034,249		4,917,007
Aerospace	2,267,715		2,102,747		1,921,984
Climate & Industrial Controls	829,627		967,840		990,369
	$	13,015,704	$	13,145,942	$	12,345,870
Segment Operating Income:
Industrial:
North America	$	845,225	$	895,010	$	745,544
International	583,747		733,123		754,222
Aerospace	280,286		290,135		247,126
Climate & Industrial Controls	82,227		84,274		76,134
Total segment operating income	1,791,485		2,002,542		1,823,026
Corporate administration	185,767		193,367		163,868
Income before interest expense and other	1,605,718		1,809,175		1,659,158
Interest expense	91,552		92,790		99,704
Other expense	203,165		139,687		145,733
Income before income taxes	$	1,311,001	$	1,576,698	$	1,413,721
Assets:
Industrial	$	8,779,858	$	7,991,498	$	8,413,552
Aerospace	1,139,967		1,033,449		995,026
Climate & Industrial Controls	608,169		704,596		724,966
Corporate (a)	2,012,904		1,440,739		753,261
	$	12,540,898	$	11,170,282	$	10,886,805
Property Additions (b):
Industrial	$	306,060	$	211,778	$	147,929
Aerospace	20,838		19,651		18,012
Climate & Industrial Controls	6,332		8,094		8,234
Corporate	7,105		8,223		38,495
	$	340,335	$	247,746	$	212,670
Depreciation:
Industrial	$	177,296	$	171,131	$	186,057
Aerospace	19,498		19,395		20,035
Climate & Industrial Controls	9,718		11,722		12,895
Corporate	7,210		8,260		10,251
	$	213,722	$	210,508	$	229,238

(Dollars in thousands)	2013		2012		2011
By Geographic Area (c)
Net Sales:
North America	$	7,844,552	$	7,830,517	$	7,151,390
International	5,171,152		5,315,425		5,194,480
	$	13,015,704	$	13,145,942	$	12,345,870
Long-Lived Assets:
North America	$	871,958	$	867,159	$	864,287
International	936,282		852,809		932,892
	$	1,808,240	$	1,719,968	$	1,797,179

The accounting policies of the business segments are the same as those described in the Significant Accounting Policies footnote except that the business segment results are prepared on a basis that is consistent with the manner in which the Company’s management disaggregates financial information for internal review and decision-making.

(a) Corporate assets are principally cash and cash equivalents, domestic deferred income taxes, investments, benefit plan assets, headquarters facilities and the major portion of the Company’s domestic data processing equipment.

(b) Includes the value of net plant and equipment at the date of acquisition of acquired companies (2013 - $74,439; 2012 - $28,929; 2011 - $5,376).

(c) Net sales are attributed to countries based on the location of the selling unit. North America includes the United States, Canada and Mexico. No country other than the United States represents greater than 10 percent of consolidated sales. Long-lived assets are comprised of plant and equipment based on physical location.