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Business Segment Information (Tables)
 12 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Business segment information
(Dollars in thousands)
 
2018

 
2017

 
2016

Net Sales:
 
 
 
 
 
 
Diversified Industrial:
 
 
 
 
 
 
North America
 
$
6,726,900

 
$
5,366,809

 
$
4,955,211

International
 
5,259,793

 
4,377,776

 
4,145,272

Aerospace Systems
 
2,315,699

 
2,284,727

 
2,260,270

 
 
$
14,302,392

 
$
12,029,312

 
$
11,360,753

Segment Operating Income:
 
 
 
 
 
 
Diversified Industrial:
 
 
 
 
 
 
North America
 
$
1,076,021

 
$
873,552

 
$
789,667

International
 
765,188

 
579,207

 
448,457

Aerospace Systems
 
397,970

 
337,496

 
337,531

Total segment operating income
 
2,239,179

 
1,790,255

 
1,575,655

Corporate administration
 
200,901

 
172,632

 
173,203

Income before interest expense and other expense
 
2,038,278

 
1,617,623

 
1,402,452

Interest expense
 
213,873

 
162,436

 
136,517

Other expense
 
122,128

 
126,546

 
151,207

Income before income taxes
 
$
1,702,277

 
$
1,328,641

 
$
1,114,728

 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Diversified Industrial
 
$
13,368,619

 
$
13,366,981

 
$
8,728,671

Aerospace Systems (a)
 
1,446,745

 
1,412,707

 
1,430,577

Corporate
 
504,723

 
710,216

 
1,874,894

 
 
$
15,320,087

 
$
15,489,904

 
$
12,034,142

 
 
 
 
 
 
 
Property Additions:
 
 
 
 
 
 
Diversified Industrial
 
$
196,469

 
$
148,765

 
$
134,618

Aerospace Systems
 
15,225

 
16,929

 
10,857

Corporate
 
35,973

 
38,054

 
3,932

 
 
$
247,667

 
$
203,748

 
$
149,407

 
 
 
 
 
 
 
Depreciation:
 
 
 
 
 
 
Diversified Industrial
 
$
211,648

 
$
176,823

 
$
163,014

Aerospace Systems
 
16,737

 
17,484

 
18,469

Corporate
 
9,421

 
8,561

 
8,825

 
 
$
237,806

 
$
202,868

 
$
190,308






(Dollars in thousands)
 
2018

 
2017

 
2016

By Geographic Area (b)
 
 
 
 
 
 
Net Sales:
 
 
 
 
 
 
North America
 
$
8,978,490

 
$
7,585,689

 
$
7,144,481

International
 
5,323,902

 
4,443,623

 
4,216,272

 
 
$
14,302,392

 
$
12,029,312

 
$
11,360,753

Long-Lived Assets:
 
 
 
 
 
 
North America
 
$
1,103,308

 
$
1,145,127

 
$
817,872

International
 
752,929

 
792,165

 
750,228

 
 
$
1,856,237

 
$
1,937,292

 
$
1,568,100


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)
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 (2018 - $235,665; 2017 - $240,182; 2016 - $241,728).
(b)
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.