Business Segment Information Business Segment Information (Notes)

12 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

(Dollars in thousands)	2016		2015		2014
Net Sales:
Diversified Industrial:
North America	$	4,955,211	$	5,715,742	$	5,693,527
International	4,145,272		4,741,376		5,287,916
Aerospace Systems	2,260,270		2,254,626		2,234,528
	$	11,360,753	$	12,711,744	$	13,215,971
Segment Operating Income:
Diversified Industrial:
North America	$	789,667	$	955,501	$	946,493
International	448,457		583,937		572,476
Aerospace Systems	337,531		298,994		271,238
Total segment operating income	1,575,655		1,838,432		1,790,207
Corporate administration	173,203		215,396		181,926
Income before interest expense and other	1,402,452		1,623,036		1,608,281
Interest expense	136,517		118,406		82,566
Other expense (income)	151,207		72,390		(31,005		)
Income before income taxes	$	1,114,728	$	1,432,240	$	1,556,720
Assets (a):
Diversified Industrial	$	8,728,671	$	8,734,942	$	9,470,822
Aerospace Systems (b)	1,430,577		1,375,845		1,359,063
Corporate (c)	1,897,490		2,168,495		2,429,930
	$	12,056,738	$	12,279,282	$	13,259,815
Property Additions:
Diversified Industrial	$	134,618	$	190,580	$	189,832
Aerospace Systems	10,857		18,427		23,261
Corporate	3,932		6,520		3,247
	$	149,407	$	215,527	$	216,340
Depreciation:
Diversified Industrial	$	163,014	$	174,102	$	187,347
Aerospace Systems	18,469		19,509		19,193
Corporate	8,825		9,165		8,425
	$	190,308	$	202,776	$	214,965

(Dollars in thousands)	2016		2015		2014
By Geographic Area (d)
Net Sales:
North America	$	7,144,481	$	7,891,571	$	7,853,603
International	4,216,272		4,820,173		5,362,368
	$	11,360,753	$	12,711,744	$	13,215,971
Long-Lived Assets:
North America	$	817,872	$	856,947	$	861,300
International	750,228		807,075		962,994
	$	1,568,100	$	1,664,022	$	1,824,294

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) Amounts in 2015 and 2014 have been adjusted to reflect the retrospective adoption of Accounting Standards Update (ASU) 2015-17 in the fourth quarter of 2016.

(b) Includes an investment in a joint venture in which ownership is 50 percent or less and in which the Company does not have operating control (2016 - $241,728; 2015 - $251,365; 2014 - $263,246).

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

(d) 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.