Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of income before income taxes for the Company's domestic and foreign operations

Income before income taxes for the Company’s domestic and foreign operations was as follows:

	Years Ended June 30,
($ in millions)	2017		2016		2015
Domestic	$	56.0	$	17.3	$	64.3
Foreign	14.2		4.2		24.8
Income before income taxes	$	70.2	$	21.5	$	89.1

Schedule of provision (benefit) for income taxes from continuing operations

The provision (benefit) for income taxes from continuing operations consisted of the following:

	Years Ended June 30,
($ in millions)	2017			2016		2015
Current:
Federal	$	(24.5	)	$	4.7	$	(39.3	)
State	(1.1		)	0.4		1.2
Foreign	7.2			4.3		8.1
Total current	(18.4		)	9.4		(30.0		)
Deferred:
Federal	38.7			0.1		60.2
State	3.5			0.5		0.1
Foreign	(0.6		)	0.2		0.1
Total deferred	41.6			0.8		60.4
Total income tax expense	$	23.2		$	10.2	$	30.4

Schedule of reconciliation of income taxes computed at the U.S. Federal income tax rate to the Company's effective income tax rate

The following is a reconciliation of income taxes computed at the U.S. Federal income tax rate to the Company’s effective income tax rates:

	Years Ended June 30,
(% of pre-tax income)	2017		2016		2015
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	2.0		2.2		2.2
Foreign tax rate differential	(1.5	)	5.5		(1.6	)
Domestic manufacturing deduction	(3.0	)	(7.0	)	(2.7	)
Research and development tax credit	(3.9	)	(8.4	)	(0.9	)
Law changes	0.9		(3.8	)	1.8
Increases (decreases) in valuation allowances	1.1		2.1		(0.3	)
Adjustments of prior years' income taxes	3.3		1.3		(0.1	)
Unremitted earnings of foreign subsidiaries	(1.2	)	12.7		—
Non-deductible goodwill impairment	—		5.1		—
Other, net	0.3		2.7		0.7
Effective income tax rate	33.0	%	47.4	%	34.1	%

Summary of components of deferred tax assets and liabilities

	June 30,
($ in millions)	2017			2016
Deferred tax assets:
Pensions	$	139.8		$	193.5
Postretirement provisions	54.4			51.0
Net operating loss carryforwards	23.1			20.5
Derivatives and hedging activities	2.4			14.8
Other	44.8			37.4
Gross deferred tax assets	264.5			317.2
Valuation allowances	(18.5		)	(17.7		)
Total deferred tax assets	246.0			299.5
Deferred tax liabilities:
Depreciation	(347.5		)	(333.0		)
Intangible assets	(19.4		)	(20.4		)
Inventories	(50.1		)	(27.4		)
Other	(6.2		)	(12.9		)
Total deferred tax liabilities	(423.2		)	(393.7		)
Deferred tax liabilities, net	$	(177.2	)	$	(94.2	)