Supplemental Balance Sheet Information (Tables)

12 Months Ended

Jun. 30, 2017

Balance Sheet Related Disclosures [Abstract]

Work-in-Process and Finished Goods Inventories Include Raw Materials, Labor and Overhead

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



(Dollars in millions)	June 30, 2017			June 30, 2016
Raw materials and supplies	$	107.5		$	88.7
Work-in-process	42.8			30.7
Finished goods	56.7			55.2
Total inventory, gross	207.0			174.6
Inventory cost adjustment	(22.1		)	(19.8		)
Inventories	$	184.9		$	154.8

Prepaid and Other Assets

Prepaid expenses and other current assets consist of the following:



(Dollars in millions)	June 30, 2017		June 30, 2016
Prepaid expenses	$	23.8	$	29.3
Spare parts supplies	11.8		10.8
Short term investments	—		7.0
Long term tax asset (current portion) ⁽¹⁾	—		6.8
Available for sale investment	18.6		—
Other current assets	43.6		35.1
Prepaid expenses and other	$	97.8	$	89.0

(1) The Company transferred certain intellectual property assets between jurisdictions in the year ended June 30, 2016 resulting in a current deferred tax charge asset. This asset was subsequently adjusted as a result of the adoption of a new accounting standard on income tax accounting for intra-entity asset transfer other than inventory. Refer to Note 1 for further details on the adoption of ASU 2016-16.

Property and Equipment

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



(Dollars in millions)	June 30, 2017			June 30, 2016
Land, buildings and improvements	$	735.2		$	649.6
Machinery, equipment and capitalized software	825.0			757.1
Furniture and fixtures	10.1			9.9
Construction in progress	137.4			134.1
Property and equipment, at cost	1,707.7			1,550.7
Accumulated depreciation	(711.8		)	(644.9		)
Property, plant, and equipment, net	$	995.9		$	905.8

Other Assets Non Current

Other assets consist of the following:



(Dollars in millions)	June 30, 2017		June 30, 2016
Long term tax asset ⁽¹⁾	$	—	$	45.4
Deferred compensation investments	15.4		11.1
Deferred long-term debt financing costs	1.2		1.8
Other	10.9		8.8
Total other assets	$	27.5	$	67.1

(1) The Company transferred certain intellectual property assets between jurisdictions in the year ended June 30, 2016 resulting in a non-current deferred tax charge asset. This asset was subsequently adjusted as a result of the adoption of a new accounting standard on income tax accounting for intra-entity asset transfer other than inventory. Refer to Note 1 for further details on the adoption of ASU 2016-16.

Other Accrued Liabilities

Other accrued liabilities consist of the following:



(Dollars in millions)	June 30, 2017		June 30, 2016
Accrued employee-related expenses	$	96.4	$	82.8
Restructuring accrual	5.9		6.1
Accrued interest	0.9		—
Deferred revenue and fees	84.9		46.2
Accrued income tax	24.7		38.8
Other accrued liabilities and expenses	68.4		45.9
Other accrued liabilities	$	281.2	$	219.8

Trade receivables allowance for doubtful accounts

Trade receivables allowance for doubtful accounts activity is as follows:



(Dollars in millions)	June 30, 2017			June 30, 2016			June 30, 2015
Trade receivables allowance for doubtful accounts
Beginning balance	$	3.9		$	6.6		$	5.4
Charged to cost and expenses (recoveries)	1.0			(0.5		)	2.7
Deductions	(0.9		)	(1.8		)	(1.1		)
Impact of foreign exchange	—			(0.4		)	(0.4		)
Closing balance	$	4.0		$	3.9		$	6.6

Inventory Reserve