text: cost method for foreign inventories. The Company adopted the link chain dollar value LIFO method of accounting for U.S. 
  inventories in fiscal 1974. At June 30, 2012, approximately 37% of the Company’s domestic inventory dollars relate to LIFO layers 
  added in the 1970s. The Company maintains five LIFO pools based on the following product groupings: bearings, power 
  transmission products, rubber products, fluid power products and other products. LIFO layers and/or liquidations are determined 
  consistently year-to-year. 
  
  The Company evaluates the recoverability of its slow moving or obsolete inventories at least quarterly. The Company estimates the 
  recoverable cost of such inventory by product type while considering factors such as its age, historic and current demand trends, the 
  physical condition of the inventory as well as assumptions regarding future demand. The Company’s ability to recover its cost for 
  slow moving or obsolete inventory can be affected by such factors as general market conditions, future customer demand and 
  relationships with suppliers. Historically, the Company’s inventories have demonstrated long shelf lives, are not highly susceptible to 
  obsolescence and are eligible for return under various supplier return programs. 
  
  Supplier Purchasing Programs 
  
  The Company enters into agreements with certain suppliers providing for inventory purchase incentives. The Company’s inventory 