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Revenue recognition
 9 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue recognition Revenue recognition
Revenue is derived primarily from the sale of products in the aerospace and defense, in-plant and industrial equipment, transportation, off-highway, energy and HVAC and refrigeration markets. A majority of the Company’s revenues are recognized at a point in time. However, a portion of the Company’s revenues are recognized over time.
Diversified Industrial Segment revenues by technology platform:
Three Months EndedNine Months Ended
March 31,March 31,
2025202420252024
Motion Systems$827,987 $942,667 $2,480,998 $2,802,947 
Flow and Process Control1,141,072 1,185,622 3,326,320 3,489,483 
Filtration and Engineered Materials1,419,700 1,537,354 4,290,405 4,506,214 
Total$3,388,759 $3,665,643 $10,097,723 $10,798,644 
Aerospace Systems Segment revenues by market segment:
Three Months EndedNine Months Ended
March 31,March 31,
2025202420252024
Commercial original equipment manufacturer ("OEM")$492,517 $471,870 $1,373,890 $1,315,254 
Commercial aftermarket568,217 482,477 1,619,806 1,311,445 
Defense OEM285,548 260,818 832,673 787,196 
Defense aftermarket225,308 193,548 682,834 530,252 
Total$1,571,590 $1,408,713 $4,509,203 $3,944,147 

Total Company revenues by geographic region based on the Company's selling operation's location:
Three Months EndedNine Months Ended
March 31,March 31,
2025202420252024
North America$3,369,139 $3,438,587 $9,900,550 $9,965,836 
Europe973,709 1,026,035 2,806,121 2,915,334 
Asia Pacific563,097 554,991 1,739,015 1,693,316 
Latin America54,404 54,743 161,240 168,305 
Total$4,960,349 $5,074,356 $14,606,926 $14,742,791 
The majority of revenues from the Aerospace Systems Segment are generated from sales within North America.
Contract balances
Contract assets and contract liabilities are reported on a contract-by-contract basis. Contract assets reflect revenue recognized and performance obligations satisfied in advance of customer billing. Contract liabilities relate to payments received in advance of the satisfaction of performance under the contract. Payments from customers are received based on the terms established in the contract with the customer.
Total contract assets and contract liabilities are as follows:
March 31,
2025		June 30,
2024
Contract assets, current (included within Other current assets)$157,314 $136,814 
Contract assets, noncurrent (included within Investments and other assets)14,359 21,063 
Total contract assets171,673 157,877 
Contract liabilities, current (included within Other accrued liabilities)(185,499)(183,868)
Contract liabilities, noncurrent (included within Other liabilities)(97,941)(77,957)
Total contract liabilities(283,440)(261,825)
Net contract liabilities$(111,767)$(103,948)
Net contract liabilities at March 31, 2025 increased from the June 30, 2024 amount primarily due to timing differences between when revenue was recognized and the receipt of advance payments. During the nine months ended March 31, 2025, approximately $164 million of revenue was recognized that was included in the contract liabilities at June 30, 2024.
Remaining performance obligations
Our backlog represents written firm orders from a customer to deliver products and, in the case of blanket purchase orders, only includes the portion of the order for which a schedule or release has been agreed to with the customer. We believe our backlog represents our unsatisfied or partially unsatisfied performance obligations. Backlog at March 31, 2025 was $11.0 billion, of which approximately 72 percent is expected to be recognized as revenue within the next 12 months and the balance thereafter.