Reclassifications from Accumulated Other Comprehensive Loss

9 Months Ended

Mar. 31, 2022

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

Reclassifications from Accumulated Other Comprehensive Loss

The changes in AOCI by component, net of tax, for the three months ended March 31, 2022 and 2021 were as follows:


Three Months Ended March 31, 2022 ($ in millions) (a)	Cash flow hedging items		Pension and other postretirement benefit plan items		Foreign currency items		Total
Balances at December 31, 2021	$	9.7	$	(157.2)	$	(42.9)	$	(190.4)
Other comprehensive gain before reclassifications	25.3		—		0.1		25.4
Amounts reclassified from AOCI (b)	1.9		1.1		—		3.0
Net other comprehensive income	27.2		1.1		0.1		28.4
Balances at March 31, 2022	$	36.9	$	(156.1)	$	(42.8)	$	(162.0)


Three Months Ended March 31, 2021 ($ in millions) (a)	Cash flow hedging items		Pension and other postretirement benefit plan items		Foreign currency items		Total
Balances at December 31, 2020	$	2.1	$	(327.1)	$	(38.1)	$	(363.1)

Other comprehensive gain (loss) before reclassifications	2.8		86.4		(3.7)		85.5
Amounts reclassified from AOCI (b)	(1.1)		11.7		—		10.6
Net other comprehensive income (loss)	1.7		98.1		(3.7)		96.1
Balances at March 31, 2021	$	3.8	$	(229.0)	$	(41.8)	$	(267.0)

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

(b) See separate table below for further details.

The changes in AOCI by component, net of tax, for the nine months ended March 31, 2022 and 2021 were as follows:


Nine Months Ended March 31, 2022 ($ in millions) (a)	Cash flow hedging items		Pension and other postretirement benefit plan items		Foreign currency items		Total
Balances at June 30, 2021	$	6.9	$	(159.1)	$	(40.1)	$	(192.3)
Other comprehensive gain (loss) before reclassifications	26.1		(0.3)		(2.7)		23.1
Amounts reclassified from AOCI (b)	3.9		3.3		—		7.2
Net other comprehensive income (loss)	30.0		3.0		(2.7)		30.3
Balances at March 31, 2022	$	36.9	$	(156.1)	$	(42.8)	$	(162.0)


Nine Months Ended March 31, 2021 ($ 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	20.1		86.4		10.8		117.3
Amounts reclassified from AOCI (b)	(5.2)		18.9		—		13.7
Net other comprehensive income	14.9		105.3		10.8		131.0
Balances at March 31, 2021	$	3.8	$	(229.0)	$	(41.8)	$	(267.0)

(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 and nine months ended March 31, 2022 and 2021:


Details about AOCI Components	Location of (loss) gain	Amount Reclassified from AOCI Three Months Ended March 31,				Amount Reclassified from AOCI Nine Months Ended March 31,
($ in millions) (a)		2022		2021		2022		2021
Cash flow hedging items:
Commodity contracts	Cost of sales	$	(2.5)	$	1.4	$	(5.4)	$	6.6

Forward interest rate swaps	Interest expense, net	0.1		0.1		0.2		0.3
Total before tax		(2.4)		1.5		(5.2)		6.9
Tax benefit (expense)		0.5		(0.4)		1.3		(1.7)
Net of tax		$	(1.9)	$	1.1	$	(3.9)	$	5.2


Details about AOCI Components	Location of (loss) gain	Amount Reclassified from AOCI Three Months Ended March 31,				Amount Reclassified from AOCI Nine Months Ended March 31,
($ in millions) (a)		2022		2021		2022		2021
Amortization of pension and other postretirement benefit plan items:
Net actuarial loss	(b)	$	(1.9)	$	(4.7)	$	(5.7)	$	(15.1)
Prior service benefit	(b)	0.4		0.5		1.2		1.6
Settlement charge	(b)	—		(8.9)		—		(8.9)
Total before tax		(1.5)		(13.1)		(4.5)		(22.4)
Tax benefit		0.4		1.4		1.2		3.5
Net of tax		$	(1.1)	$	(11.7)	$	(3.3)	$	(18.9)

(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).