Inventories

3 Months Ended

Sep. 30, 2021

Inventory, Net [Abstract]

Inventories

Inventories

Inventories consisted of the following components as of September 30, 2021 and June 30, 2021:

($ in millions)	September 30, 2021		June 30, 2021
Raw materials and supplies	$	124.8	$	115.0
Work in process	251.1		206.2
Finished and purchased products	115.5		104.5
Total inventories	$	491.4	$	425.7

Inventories are valued at the lower of cost or market. Cost for inventories is principally determined using the last-in, first-out ("LIFO") inventory costing method. The Company also uses the first-in, first-out ("FIFO") and average cost methods. As of September 30, 2021 and June 30, 2021, $118.5 million and $107.5 million of inventory, respectively, was accounted for using a method other than the LIFO inventory costing method.