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EMPLOYEE BENEFITS (Tables)
9 Months Ended
Mar. 31, 2019
EMPLOYEE BENEFITS  
Schedule of Changes in Benefit Obligations, Fair Value of Plan Assets and the Unfunded Status for the Company's Defined Benefit Pension and Postretirement Benefit Plans

The service cost component of the defined benefit pension and post-retirement benefit (OPEB) plans is included within selling, general and administrative expenses and all other components are recognized in other income, net in the accompanying condensed consolidated statements of operations.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension Plans

 

    

Three Months Ended March 31,

 

 

Nine Months Ended March 31,

 

    

2019

 

2018

 

 

2019

 

2018

 

 

( in millions)

 

 

( in millions)

Service cost

 

$

0.8

 

$

0.7

 

 

$

2.2

 

$

2.1

Interest cost

 

 

1.0

 

 

0.9

 

 

 

2.8

 

 

1.6

Expected return on plan assets

 

 

(1.5)

 

 

(1.4)

 

 

 

(4.1)

 

 

(2.5)

Amortization of service cost from earlier periods

 

 

0.2

 

 

0.2

 

 

 

0.6

 

 

0.2

Gain on curtailment(1)

 

 

 —

 

 

 —

 

 

 

(0.4)

 

 

 —

Net periodic pension cost

 

$

0.5

 

$

0.4

 

 

$

1.1

 

$

1.4

(1)

During the three months ended September 30, 2018, the Company approved an amendment to the defined benefit pension plan freezing benefit accruals for certain members of the pension plan as of September 30, 2018. The plan freeze had an immaterial impact to the financial statements for the nine months ended March 31, 2019.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPEB Plans

 

    

Three Months Ended March 31,

 

 

Nine Months Ended March 31,

 

    

2019

 

2018

 

 

2019

 

2018

 

 

( in millions)

 

 

( in millions)

Service cost

 

$

 —

 

$

 —

 

 

$

0.1

 

$

0.1

Interest cost

 

 

 —

 

 

0.1

 

 

 

0.2

 

 

0.3

Net periodic post-retirement benefit cost

 

$

 —

 

$

0.1

 

 

$

0.3

 

$

0.4