$AIT

APPLIED INDUSTRIAL TECHNOLOGIES INC

CIK:0000109563|SEC Filings

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Statement of Comprehensive Income [Abstract]
Net income per the statements of consolidated income	$ 414,525	$ 392,988	$ 385,762
Other comprehensive loss, before tax:
Foreign currency translation adjustments	2,740	(1,655)	(12,544)
Post-employment benefits:
Actuarial gain (loss) on re-measurement	117	(42)	(134)
Reclassification of net actuarial losses (gains) and prior service cost into other income, net and included in net periodic pension costs	7	(25)	(117)
Unrealized gain (loss) on cash flow hedge	262	(357)	5,958
Reclassification of interest from cash flow hedge into interest expense	(8,141)	(16,124)	(18,683)
Total other comprehensive loss, before tax	(5,015)	(18,203)	(25,520)
Income tax benefit related to items of other comprehensive income	(1,905)	(4,083)	(3,250)
Other comprehensive loss, net of tax	(3,110)	(14,120)	(22,270)
Comprehensive income	$ 411,415	$ 378,868	$ 363,492

STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Cash Flows from Operating Activities
Net income	$ 414,525	$ 392,988	$ 385,762
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	25,875	24,899	23,431
Amortization of intangibles	40,072	35,581	28,923
Deferred income taxes	26,264	(6,362)	(1,074)
Provision for losses on (recoveries of) accounts receivable	4,613	5,978	(205)
Amortization of stock appreciation rights	5,519	4,713	3,448
Other share-based compensation expense	7,385	7,289	9,496
Other	(1,267)	373	(1,309)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(66,422)	(4,918)	(1,925)
Inventories	(899)	29,181	18,387
Other operating assets	(48,454)	(11,448)	(25,897)
Accounts payable	56,886	2,169	(39,272)
Other operating liabilities	19,985	11,942	(28,372)
Cash provided by Operating Activities	484,082	492,385	371,393
Cash Flows from Investing Activities
Cash paid for acquisition of businesses, net of cash acquired	(11,424)	(293,406)	(72,090)
Capital expenditures	(23,565)	(27,187)	(24,864)
Proceeds from property sales	1,090	1,841	576
Life insurance proceeds	0	0	971
Cash used in Investing Activities	(33,899)	(318,752)	(95,407)
Cash Flows from Financing Activities
Repayments under revolving credit facility	(310,000)	0	0
Borrowings under revolving credit facility	0	0	408
Long-term debt repayments	0	(25,106)	(25,251)
Interest rate swap settlement receipts	5,765	12,095	14,470
Payment of debt issuance costs	(1,611)	0	0
Purchases of treasury shares	(317,218)	(152,837)	(73,388)
Dividends paid	(72,598)	(63,702)	(55,879)
Acquisition holdback payments	(1,390)	(1,210)	(681)
Exercise of stock appreciation rights and options	0	0	127
Taxes paid for shares withheld	(14,487)	(14,847)	(16,274)
Cash used in Financing Activities	(711,539)	(245,607)	(156,468)
Effect of exchange rate changes on cash	69	(226)	(2,937)
(Decrease) increase in cash and cash equivalents	(261,287)	(72,200)	116,581
Cash and cash equivalents at beginning of year	388,417	460,617	344,036
Cash and Cash Equivalents at End of Year	127,130	388,417	460,617
Cash paid during the year for:
Interest (includes interest rate swap settlements)	$ 18,954	$ 21,826	$ 23,978

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets
Cash and cash equivalents	$ 127,130	$ 388,417
Accounts receivable — net	831,244	769,699
Inventories	508,979	505,337
Other current assets	111,376	84,020
Total current assets	1,578,729	1,747,473
Property — at cost
Land	13,900	14,083
Buildings	116,881	116,733
Equipment	266,280	253,354
Total property — at cost	397,061	384,170
Less accumulated depreciation	265,410	256,016
Property — net	131,651	128,154
Operating lease assets — net	213,199	188,654
Identifiable intangibles — net	312,814	348,600
Goodwill	704,700	699,374
Other assets	68,880	63,289
Total Assets	3,009,973	3,175,544
Current liabilities
Accounts payable	341,094	280,124
Compensation and related benefits	109,060	99,630
Other current liabilities	162,257	146,397
Total current liabilities	612,411	526,151
Long-term debt	262,300	572,300
Other liabilities	273,513	232,573
Total Liabilities	1,148,224	1,331,024
Shareholders’ Equity
Preferred stock — no par value; 2,500 shares authorized; none issued or outstanding	0	0
Common stock — no par value; 80,000 shares authorized; 54,213 shares issued; 36,803 and 37,868 shares outstanding, respectively	10,000	10,000
Additional paid-in capital	204,606	198,970
Retained earnings	2,788,709	2,447,931
Treasury shares — at cost (17,411 and 16,345 shares, respectively)	(1,046,770)	(720,695)
Accumulated other comprehensive loss	(94,796)	(91,686)
Total Shareholders’ Equity	1,861,749	1,844,520
Total Liabilities and Shareholders’ Equity	$ 3,009,973	$ 3,175,544