Pension and Other Postretirement Benefits

6 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits

Pension and Other Postretirement Benefits

The components of the net periodic benefit cost related to the Company’s pension and other postretirement benefits for the three and six months ended December 31, 2020 and 2019 were as follows:

Three months ended December 31,	Pension Plans				Other Postretirement Plans
($ in millions)	2020		2019		2020		2019
Service cost	$	2.4	$	2.4	$	0.6	$	0.7
Interest cost	9.9		11.7		1.9		2.3
Expected return on plan assets	(13.9)		(15.5)		(1.6)		(1.8)
Amortization of net loss	4.3		3.9		0.9		0.6
Amortization of prior service cost (benefit)	0.5		0.5		(1.0)		(1.0)
Net periodic benefit costs	$	3.2	$	3.0	$	0.8	$	0.8

Six months ended December 31,	Pension Plans				Other Postretirement Plans
($ in millions)	2020		2019		2020		2019
Service cost	$	4.8	$	4.9	$	1.4	$	1.4
Interest cost	19.8		23.4		3.8		4.6
Expected return on plan assets	(27.8)		(31.1)		(3.3)		(3.6)
Amortization of net loss	8.6		7.8		1.8		1.2
Amortization of prior service cost (benefit)	1.0		1.0		(2.0)		(2.0)
Net periodic benefit costs	$	6.4	$	6.0	$	1.7	$	1.6

During the six months ended December 31, 2020 and 2019, the Company made $4.7 million and $3.6 million, respectively, of contributions to its qualified defined benefit pension plans. The Company currently expects to contribute $15.0 million to its qualified defined benefit pension plans during the remainder of fiscal year 2021.