Inventories

3 Months Ended

Sep. 30, 2024

Inventory, Net [Abstract]

Inventories

Inventories

Inventories consisted of the following components as of September 30, 2024 and June 30, 2024:

($ in millions)	September 30, 2024		June 30, 2024
Raw materials and supplies	$	175.8	$	164.0
Work in process	447.2		430.5
Finished and purchased products	126.4		140.9
Total inventories	$	749.4	$	735.4

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 values other inventory at the lower of cost or net realizable value, determined by the first-in, first-out and average cost methods. As of September 30, 2024 and June 30, 2024, $143.0 million and $152.2 million of inventory, respectively, was accounted for using a method other than the LIFO inventory costing method.