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Restructuring and Asset Impairment Charges
 6 Months Ended
Dec. 31, 2020
Restructuring and Related Activities [Abstract]  
Restructuring and Asset Impairment Charges Restructuring and Asset Impairment Charges
Restructuring and asset impairment charges for the three and six months ended December 31, 2020 were $0.0 million and $10.0 million, respectively. There were $2.3 million of restructuring and asset impairment charges for the three and six months ended December 31, 2019.

During the first quarter ended September 30, 2020, the Company initiated a restructuring plan to consolidate certain operations within the Additive business in the Performance Engineered Products "PEP" segment. This included $8.7 million of non-cash impairment charges related primarily to certain long-lived assets and certain definite-lived intangible assets. The Company also recognized $1.3 million of charges primarily related to various personnel-related costs for severance payments, medical coverage and related items.

In the fourth quarter of fiscal year 2020, the Company approved actions to reduce overhead costs and position the Company to drive long-term, profitable growth. These actions included implementing a restructuring plan aimed at reducing fixed costs by eliminating 20 percent of global salaried positions across all business segments. The restructuring charge consisted primarily of various personnel-related costs for severance payments, medical coverage and related items. In addition, the Company also recorded non-cash asset impairment charges related to the closure of two domestic powder facilities in the PEP segment, non-cash asset impairment charges related to the decision to exit the Amega West business, and a non-cash write-down of software that will no longer be implemented at a particular business unit. At this time, the Company does not expect any additional charges related to these restructuring actions in the future.

The reserve balances and activity for restructuring charges at December 31, 2020 were as follows:

($ in millions)Reserve Balance
Reserve balance at June 30, 2020$9.5 
Restructuring charges1.3 
Cash payments(8.2)
Reserve balance at December 31, 2020$2.6