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Business Segment Information (Tables)
 12 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Business segment information
(Dollars in thousands)
 
2020

 
2019

 
2018

Net Sales:
 
 
 
 
 
 
Diversified Industrial:
 
 
 
 
 
 
North America
 
$
6,456,298

 
$
6,808,948

 
$
6,726,900

International
 
4,504,587

 
5,000,599

 
5,259,793

Aerospace Systems
 
2,734,635

 
2,510,777

 
2,315,699

 
 
$
13,695,520

 
$
14,320,324

 
$
14,302,392

Segment Operating Income:
 
 
 
 
 
 
Diversified Industrial:
 
 
 
 
 
 
North America
 
$
985,944

 
$
1,138,586

 
$
1,076,021

International
 
674,763

 
804,890

 
765,188

Aerospace Systems
 
476,900

 
487,757

 
397,970

Total segment operating income
 
2,137,607

 
2,431,233

 
2,239,179

Corporate administration
 
170,903

 
194,994

 
200,901

Income before interest expense and other expense
 
1,966,704

 
2,236,239

 
2,038,278

Interest expense
 
308,161

 
190,138

 
213,873

Other expense
 
145,916

 
112,676

 
122,128

Income before income taxes
 
$
1,512,627

 
$
1,933,425

 
$
1,702,277

 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
Diversified Industrial
 
$
15,973,576

 
$
13,189,204

 
$
13,368,619

Aerospace Systems(a)
 
3,251,522

 
1,546,053

 
1,446,745

Corporate
 
513,091

 
2,841,433

 
504,723

 
 
$
19,738,189

 
$
17,576,690

 
$
15,320,087

 
 
 
 
 
 
 
Property Additions:
 
 
 
 
 
 
Diversified Industrial
 
$
183,981

 
$
172,348

 
$
196,469

Aerospace Systems
 
44,546

 
20,748

 
15,225

Corporate
 
4,064

 
1,993

 
35,973

 
 
$
232,591

 
$
195,089

 
$
247,667

 
 
 
 
 
 
 
Depreciation:
 
 
 
 
 
 
Diversified Industrial
 
$
218,092

 
$
203,144

 
$
211,648

Aerospace Systems
 
27,749

 
16,268

 
16,737

Corporate
 
7,058

 
6,263

 
9,421

 
 
$
252,899

 
$
225,675

 
$
237,806

 
 
 
 
 
 
 
Amortization:
 
 
 
 
 
 
Diversified Industrial
 
$
243,714

 
$
196,680

 
$
212,742

Aerospace Systems
 
40,918

 
3,072

 
2,939

 
 
$
284,632

 
$
199,752

 
$
215,681






(Dollars in thousands)
 
2020

 
2019

 
2018

By Geographic Area(b)
 
 
 
 
 
 
Net Sales:
 
 
 
 
 
 
North America
 
$
9,166,773

 
$
9,318,195

 
$
8,978,490

International
 
4,528,747

 
5,002,129

 
5,323,902

 
 
$
13,695,520

 
$
14,320,324

 
$
14,302,392

Long-Lived Assets:
 
 
 
 
 
 
North America
 
$
1,494,858

 
$
1,052,263

 
$
1,103,308

International
 
797,877

 
716,024

 
752,929

 
 
$
2,292,735

 
$
1,768,287

 
$
1,856,237


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 (2020 - $237,911; 2019 - $234,703; 2018 - $235,665).
(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.