Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes for the Company's Domestic and Foreign Operations

Income (loss) before income taxes for the Company's domestic and foreign operations was as follows:

	Years Ended June 30,
($ in millions)	2023		2022		2021
Domestic	$	51.2	$	(74.0)	$	(252.5)
Foreign	21.3		10.9		(45.4)
Income (loss) before income taxes	$	72.5	$	(63.1)	$	(297.9)

Schedule of Provision (Benefit) for Income Taxes from Continuing Operations

The expense (benefit) for income taxes from continuing operations consisted of the following:

	Years Ended June 30,
($ in millions)	2023		2022		2021
Current:
Federal	$	8.6	$	(14.7)	$	(37.3)
State	2.6		0.1		(0.6)
Foreign	5.3		3.7		3.2
Total current	16.5		(10.9)		(34.7)
Deferred:
Federal	(0.9)		(1.0)		(22.6)
State	(0.5)		(2.7)		(10.5)
Foreign	1.0		0.6		(0.5)
Total deferred	(0.4)		(3.1)		(33.6)
Total income tax expense (benefit)	$	16.1	$	(14.0)	$	(68.3)

Schedule of Reconciliation of Income Taxes Computed at the U.S. Federal Income Tax Rate to the Company's Effective Income Tax Rate

The following is a reconciliation of income taxes computed at the U.S. Federal income tax rate to the Company's effective income tax rates: 

	Years Ended June 30,
(% of pre-tax income (loss))	2023		2022		2021
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.8		3.1		2.9
Foreign tax rate differential	0.9		(1.0)		(0.4)
Research and development tax credit	(3.5)		4.4		1.1
Adjustments of prior years' income taxes	8.7		(7.4)		(0.2)
Non-taxable income	(0.8)		(1.0)		0.4
Non-deductible expenses	(0.1)		(0.7)		(0.9)
Non-deductible compensation	1.4		(1.1)		(0.1)
Share-based compensation	—		(0.7)		(0.5)
Changes in valuation allowances	(7.4)		6.0		(0.3)
Law changes	0.4		—		—
Interest on prior tax positions	(1.3)		0.2		—
Other, net	0.1		(0.6)		(0.1)
Effective income tax rate	22.2	%	22.2	%	22.9	%

Summary of Components of Deferred Tax Assets and Liabilities

	June 30,
($ in millions)	2023		2022
Deferred tax assets:
Pensions	$	39.8	$	43.2
Postretirement provisions	20.0		26.9
Non-equity compensation	16.0		7.5
Net operating loss carryforwards	22.5		44.5
Tax credit carryforwards	1.2		17.0
Operating lease liability	10.0		10.5
Other	22.3		29.3
Gross deferred tax assets	131.8		178.9
Valuation allowances	(13.6)		(21.3)
Total deferred tax assets	118.2		157.6
Deferred tax liabilities:
Depreciation	(237.6)		(262.9)
Intangible assets	(5.8)		(5.2)
Inventories	(27.4)		(28.9)
Operating lease right-of-use asset	(8.0)		(8.3)
Other	(3.1)		(9.0)
Total deferred tax liabilities	(281.9)		(314.3)
Deferred tax liabilities, net	$	(163.7)	$	(156.7)