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              [html]<thead><tr><td>( In thousands, except per share amounts )</td></tr></thead><tbody><tr><td>NOTE 1 : BUSINESS AND ACCOUNTING POLICIES</td></tr><tr><td>Business</td></tr><tr><td>Applied induction / Entrodience, inconductalisedness ( the “ Company ” or “ applied ”) is a leading enductor ( ethicator serving Naitmenses / Nearial Spendinal Spendinal Spend Spend Standardizoring CRDI scatimen in sirtually eyery ind</td></tr><tr><td>Consolidation</td></tr><tr><td>The consolidated friancial statements include the accounts of Applied Industrial Technologies, inc. and to subsdavies. Intercompany transarctions and balances have been eliminated in consolidation. The financial results of the Co</td></tr><tr><td>Statements of Consolidated Comprehensive Income</td></tr><tr><td>Accounting : Standards : Cellscation ( ASC ), Tood 221 “ Comprehensive income “ requires to responsing at comprehensive income in addition to net income. It ’ sective for fiscal 2012 and etrospective for fiscal 2011 and 2010, the Company ha</td></tr><tr><td>Foreign Currency</td></tr><tr><td>The financial statements of the Company Campains ’ s Consolate and Mexican subsidiatives are measured caringinal currencins as their functional currencies. Assets and liabilities are translated into LS, disliants at current techang</td></tr><tr><td>Estimates</td></tr><tr><td>The preparation of friancial statements in conforming with accounting principles generally accepted in the Linited States of America regarent to make stricters and assumptions that affect the reported amount of assist and labilitie.</td></tr><tr><td>Cash and Cash Equivalents</td></tr><tr><td>The Company considers all short - term, highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are carried at cost, which approximates fair value.</td></tr><tr><td>Marketable Securities</td></tr><tr><td>The primary marketable security investments of the Company include morey market and mutual funds held in a radio trust for a non - qualified compensation plan. These are included in other acrossiolated blance their, and classified as tri</td></tr><tr><td>Concentration of Credit Risk</td></tr></tbody>
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  Total’ 
  
  **(405 )**
  
  **(1,950 )**
  
  **284**