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Business Segments
 6 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Business Segments Business Segments
 
The Company has two reportable segments, Specialty Alloys Operations ("SAO") and Performance Engineered Products ("PEP").
 
The SAO segment is comprised of the Company's major premium alloy and stainless steel manufacturing operations. This includes operations performed at mills primarily in Reading and Latrobe, Pennsylvania and surrounding areas as well as South Carolina and Alabama. The combined assets of the SAO operations are managed in an integrated manner to optimize efficiency and profitability across the total system.
 
The PEP segment is comprised of the Company's differentiated operations. This segment includes the Dynamet titanium business, the Carpenter Additive business and the Latrobe and Mexico distribution businesses. The businesses in the PEP segment are managed with an entrepreneurial structure to promote flexibility and agility to quickly respond to market dynamics.
 
The Company's executive management evaluates the performance of these operating segments based on sales, operating income and cash flow generation. Segment operating results exclude general corporate costs, which include executive and director compensation and other corporate facilities and administrative expenses not allocated to the segments. Also excluded are items that management considers not representative of ongoing operations, such as restructuring charges and other specifically-identified income or expense items.

On a consolidated basis, no single customer accounted for 10 percent or more of net sales for the three and six months ended December 31, 2023 and December 31, 2022. On a consolidated basis, no single customer accounted for 10 percent or more of accounts receivable outstanding at December 31, 2023 and June 30, 2023.
Net SalesThree Months Ended
December 31,		Six Months Ended
December 31,
($ in millions)2023202220232022
Specialty Alloys Operations$549.4 $495.8 $1,119.4 $943.2 
Performance Engineered Products95.7 106.7 197.4 200.0 
Intersegment(20.9)(23.4)(40.7)(41.2)
Consolidated net sales$624.2 $579.1 $1,276.1 $1,102.0 
Operating Income (Loss)Three Months Ended
December 31,		Six Months Ended
December 31,
($ in millions)2023202220232022
Specialty Alloys Operations$83.3 $30.3 $164.1 $50.2 
Performance Engineered Products7.1 9.3 16.2 15.6 
Corporate(20.7)(16.4)(42.0)(33.5)
Intersegment0.1 (0.6)0.5 (1.4)
Consolidated operating income$69.8 $22.6 $138.8 $30.9 
Depreciation and AmortizationThree Months Ended
December 31,		Six Months Ended
December 31,
($ in millions)2023202220232022
Specialty Alloys Operations$28.4 $27.3 $56.2 $54.4 
Performance Engineered Products4.0 3.8 8.0 7.7 
Corporate1.2 1.4 2.5 2.7 
Consolidated depreciation and amortization$33.6 $32.5 $66.7 $64.8 
Capital ExpendituresThree Months Ended
December 31,		Six Months Ended
December 31,
($ in millions)2023202220232022
Specialty Alloys Operations$20.3 $16.0 $39.0 $27.4 
Performance Engineered Products2.9 1.2 6.2 3.1 
Corporate2.0 0.3 2.2 0.5 
Intersegment0.1 — (0.1)— 
Consolidated capital expenditures$25.3 $17.5 $47.3 $31.0 
Total AssetsDecember 31,
2023		June 30,
2023
($ in millions)
Specialty Alloys Operations$2,551.3 $2,461.2 
Performance Engineered Products470.6 451.6 
Corporate152.8 159.0 
Intersegment(15.5)(17.9)
Consolidated total assets$3,159.2 $3,053.9