SUPPLEMENTAL BALANCE SHEET INFORMATION

Supplementary balance sheet information at December 31, 2016 and June 30, 2016 is detailed in the following tables.

Inventories

Work-in-process and finished goods inventories include raw materials, labor, and overhead. Total inventories consist of the following:



(Dollars in millions)	December 31, 2016			June 30, 2016
Raw materials and supplies	$	102.9		$	88.7
Work-in-process	30.2			30.7
Finished goods	52.9			55.2
Total inventories, gross	186.0			174.6
Inventory reserve	(16.2		)	(19.8		)
Inventories	$	169.8		$	154.8

Prepaid expenses and other

Prepaid expenses and other current assets consist of the following:



(Dollars in millions)	December 31, 2016		June 30, 2016
Prepaid expenses	$	22.8	$	29.3
Spare parts supplies	11.1		10.8
Short term investments	—		7.0
Long term tax asset (current portion) ⁽¹⁾	—		6.8
Other current assets	56.8		35.1
Prepaid expenses and other	$	90.7	$	89.0

(1) The company transferred certain intellectual property assets between jurisdictions in the year ended June 30, 2016, resulting in a deferred tax charge which will be amortized over the remaining 10-year useful life of the assets. The Company adopted ASU 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory effective July 1, 2016 and subsequently adjusted the long-term tax asset. Refer to Note 1 for further information.

Property, plant, and equipment, net

Property, plant, and equipment, net consist of the following:



(Dollars in millions)	December 31, 2016			June 30, 2016
Land, buildings, and improvements	$	678.0		$	649.6
Machinery, equipment, and capitalized software	764.2			757.1
Furniture and fixtures	9.5			9.9
Construction in progress	123.4			134.1
Property, plant, and equipment, at cost	1,575.1			1,550.7
Accumulated depreciation	(670.1		)	(644.9		)
Property, plant, and equipment, net	$	905.0		$	905.8

Other accrued liabilities

Other accrued liabilities consist of the following:



(Dollars in millions)	December 31, 2016		June 30, 2016
Accrued employee-related expenses	$	60.4	$	82.8
Restructuring accrual	4.7		6.1
Accrued interest	1.2		0.1
Deferred revenue and fees	46.6		46.2
Accrued income tax	24.6		38.8
Other accrued liabilities and expenses	46.6		45.8
Other accrued liabilities	$	184.1	$	219.8