Revenue recognition (Tables)

6 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Aerospace Systems Segment revenues by product platform:



	Three Months Ended		Six Months Ended
	December 31, 2018		December 31, 2018
Flight Control Actuation	$	189,670	$	352,606
Fuel and Inerting	157,262		301,308
Hydraulics	108,893		211,390
Engines	71,647		136,033
Fluid Conveyance	68,868		139,072
Other	19,967		40,382
Total	$	616,307	$	1,180,791

Total Company revenues by geographic region based on the Company's selling operation's location:



	Three Months Ended		Six Months Ended
	December 31, 2018		December 31, 2018
North America	$	2,248,806	$	4,494,897
Europe	714,550		1,440,860
Asia Pacific	465,974		927,614
Latin America	42,715		87,968
Total	$	3,472,045	$	6,951,339

Diversified Industrial Segment revenues by technology platform:



	Three Months Ended		Six Months Ended
	December 31, 2018		December 31, 2018
Motion Systems	$	856,357	$	1,715,930
Flow and Process Control	1,015,200		2,076,264
Filtration and Engineered Materials	984,181		1,978,354
Total	$	2,855,738	$	5,770,548

Contract assets and liabilities

Total contract assets and contract liabilities are as follows:



	December 31, 2018
Contract assets, current (included within Prepaid expenses and other)	$	19,263
Contract assets, noncurrent (included within Investments and other assets)	2,328
Total contract assets	21,591
Contract liabilities, current (included within Other accrued liabilities)	(65,320		)
Contract liabilities, noncurrent (included within Other liabilities)	(468		)
Total contract liabilities	(65,788		)
Net contract (liabilities)	$	(44,197	)

Cumulative effect of changes

The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as of July 1, 2018 related to the adoption of ASU 2014-09 is as follows:



	Balance as of		Cumulative Effect			Balance as of
	June 30, 2018		of Adjustments			July 1, 2018
Assets:
Trade accounts receivable, net	$	2,145,517	$	(11	)	$	2,145,506
Inventories	1,621,304		23,205			1,644,509
Prepaid expenses and other	134,886		14,575			149,461
Investments and other assets	801,049		2,020			803,069
Liabilities:
Other accrued liabilities	$	502,333	$	28,288		$	530,621
Other liabilities	526,089		5,160			531,249
Deferred income taxes	234,858		1,560			236,418
Equity:
Retained earnings	$	11,625,975	$	4,781		$	11,630,756