Reclassifications from Accumulated Other Comprehensive (Loss) Income (AOCI)

3 Months Ended

Sep. 30, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Reclassifications from Accumulated Other Comprehensive (Loss) Income (AOCI)

Reclassifications from Accumulated Other Comprehensive (Loss) Income (AOCI)

The changes in AOCI by component, net of tax, for the three months ended September 30, 2020 and 2019 were as follows:

Three Months Ended September 30, 2020 ($ in millions) (a)	Cash flow hedging items		Pension and other postretirement benefit plan items		Foreign currency items		Total
Balances at June 30, 2020	$	(11.1)	$	(334.3)	$	(52.6)	$	(398.0)
Other comprehensive gain before reclassifications	10.5		—		5.7		16.2
Amounts reclassified from AOCI (b)	(2.2)		3.6		—		1.4
Net other comprehensive income	8.3		3.6		5.7		17.6
Balances at September 30, 2020	$	(2.8)	$	(330.7)	$	(46.9)	$	(380.4)

Three Months Ended September 30, 2019 ($ in millions) (a)	Cash flow hedging items		Pension and other postretirement benefit plan items		Foreign currency items		Total
Balances at June 30, 2019	$	(14.8)	$	(293.3)	$	(43.7)	$	(351.8)
Other comprehensive income before reclassifications	30.7		—		(5.5)		25.2
Amounts reclassified from AOCI (b)	(4.0)		3.0		—		(1.0)
Net other comprehensive income	26.7		3.0		(5.5)		24.2
Balances at September 30, 2019	$	11.9	$	(290.3)	$	(49.2)	$	(327.6)

(a)    All amounts are net of tax. Amounts in parentheses indicate debits.

(b)    See separate table below for further details.

The following is a summary of amounts reclassified from AOCI for the three months ended September 30, 2020 and 2019:

Details about AOCI Components	Location of gain (loss)	Amount Reclassified from AOCI Three Months Ended September 30,
($ in millions) (a)		2020		2019
Cash flow hedging items:
Commodity contracts	Cost of sales	$	2.8	$	4.8
Foreign exchange contracts	Net sales	—		0.4
Forward interest rate swaps	Interest expense	0.1		0.1
Total before tax		2.9		5.3
Tax expense		(0.7)		(1.3)
Net of tax		$	2.2	$	4.0

Details about AOCI Components	Location of (loss) gain	Amount Reclassified from AOCI Three Months Ended September 30,
($ in millions) (a)		2020		2019
Amortization of pension and other postretirement benefit plan items:
Net actuarial loss	(b)	$	(5.2)	$	(4.5)
Prior service benefit	(b)	0.5		0.5
Total before tax		(4.7)		(4.0)
Tax benefit		1.1		1.0
Net of tax		$	(3.6)	$	(3.0)

(a)    Amounts in parentheses indicate debits to income/loss.

(b)    These AOCI components are included in the computation of net periodic benefit cost (see Note 9. Pension and Other Postretirement Benefits for additional details).