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Business Segment Information
 12 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Company operates in two reportable business segments: Diversified Industrial and Aerospace Systems. Both segments utilize eight core technologies, including hydraulics, pneumatics, electromechanical, filtration, fluid & gas handling, process control, engineered materials, and climate control, to drive superior customer problem solving and value creation.
The Diversified Industrial Segment is an aggregation of several business units that design, manufacture, and provide aftermarket support for highly engineered solutions that create value for customers primarily in aerospace and defense, in-plant and industrial equipment, transportation, off-highway, energy, and HVAC and refrigeration markets around the world. Diversified Industrial Segment products are marketed direct to OEMs and independent distributors through field sales employees. The Diversified Industrial North America businesses have manufacturing plants and distribution networks throughout the United States, Canada and Mexico and primarily service North America. The Diversified Industrial International businesses provide Parker products and services to 40 countries throughout Europe, Asia Pacific, Latin America, the Middle East and Africa.
The Aerospace Systems Segment designs, manufactures and provides aftermarket support for highly engineered airframe and engine solutions for both OEMs and end users. Our components and systems are utilized across commercial transport, defense fixed wing, business jets, regional transport, helicopter and energy applications. Aerospace Systems Segment products are marketed by field sales employees and are sold directly to manufacturers and end users.
The accounting policies of the business segments are the same as those described in the Significant Accounting Policies footnote. 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.
202420232022
Net Sales:
Diversified Industrial$14,457,146 $14,705,693 $13,342,046 
Aerospace Systems5,472,460 4,359,501 2,519,562 
$19,929,606 $19,065,194 $15,861,608 
Segment Operating Income:
Diversified Industrial$3,176,384 $3,071,410 $2,693,303 
Aerospace Systems1,110,746 562,444 501,431 
Total segment operating income4,287,130 3,633,854 3,194,734 
Corporate general and administrative expense218,312 229,677 219,699 
Income before interest expense and other (income) expense, net4,068,818 3,404,177 2,975,035 
Interest expense506,495 573,894 255,252 
Other (income) expense, net(32,280)150,619 1,105,557 
Income before income taxes$3,594,603 $2,679,664 $1,614,226 
Assets:
Diversified Industrial$16,173,560 $15,572,849 $15,838,512 
Aerospace Systems(a)
12,016,287 13,661,086 3,020,606 
Corporate 1,107,995 730,537 7,084,825 
$29,297,842 $29,964,472 $25,943,943 
202420232022
Property Additions:
Diversified Industrial$303,494 $292,456 $197,675 
Aerospace Systems89,862 81,456 27,452 
Corporate6,756 6,835 4,917 
$400,112 $380,747 $230,044 
Depreciation:
Diversified Industrial$232,299 $204,632 $219,206 
Aerospace Systems107,795 104,286 29,576 
Corporate9,042 8,498 8,532 
$349,136 $317,416 $257,314 
Amortization:
Diversified Industrial$266,219 $267,779 $263,430 
Aerospace Systems311,776 232,934 51,020 
$577,995 $500,713 $314,450 
By Geographic Area(b)
Net Sales:
North America$13,512,303 $12,689,719 $10,216,292 
International6,417,303 6,375,475 5,645,316 
$19,929,606 $19,065,194 $15,861,608 
Long-Lived Assets:
North America$1,864,059 $1,828,457 $1,398,966 
International1,011,609 1,036,573 723,792 
$2,875,668 $2,865,030 $2,122,758 

(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 (2024 - $218 million; 2023 - $216 million; 2022 - $211 million) and assets held for sale (2022 - $66 million).
(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 property, plant and equipment based on physical location.