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Business Segments
 6 Months Ended
Dec. 31, 2024
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.

The service cost component of the Company's net pension expense, which represents the estimated cost of future pension liabilities earned associated with active employees, is included in the operating income of the business segments. The residual net pension expense, which is comprised of the expected return on plan assets, interest costs on the projected benefit obligations of the plans and amortization of actuarial gains and losses and prior service costs is included within other expense, net.

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, 2024 or December 31, 2023. No single customer accounted for 10 percent or more of the accounts receivable outstanding as of December 31, 2024 or June 30, 2024.
Net SalesThree Months Ended
December 31,		Six Months Ended
December 31,
($ in millions)2024202320242023
Specialty Alloys Operations$601.5 $549.4 $1,246.6 $1,119.4 
Performance Engineered Products95.0 95.7 195.8 197.4 
Intersegment(19.6)(20.9)(47.9)(40.7)
Consolidated net sales$676.9 $624.2 $1,394.5 $1,276.1 
Operating Income (Loss)Three Months Ended
December 31,		Six Months Ended
December 31,
($ in millions)2024202320242023
Specialty Alloys Operations$135.6 $83.3 $270.2 $164.1 
Performance Engineered Products7.0 7.1 14.3 16.2 
Corporate costs (including special item)(23.6)(20.7)(51.6)(42.0)
Intersegment(0.1)0.1 (0.4)0.5 
Consolidated operating income$118.9 $69.8 $232.5 $138.8 
Depreciation and AmortizationThree Months Ended
December 31,		Six Months Ended
December 31,
($ in millions)2024202320242023
Specialty Alloys Operations$28.8 $28.4 $57.4 $56.2 
Performance Engineered Products4.1 4.0 8.0 8.0 
Corporate1.4 1.2 2.7 2.5 
Consolidated depreciation and amortization$34.3 $33.6 $68.1 $66.7 
Capital ExpendituresThree Months Ended
December 31,		Six Months Ended
December 31,
($ in millions)2024202320242023
Specialty Alloys Operations$25.2 $20.3 $45.7 $39.0 
Performance Engineered Products3.6 2.9 9.7 6.2 
Corporate0.5 2.1 0.8 2.1 
Consolidated capital expenditures$29.3 $25.3 $56.2 $47.3 
Total AssetsDecember 31,
2024		June 30,
2024
($ in millions)
Specialty Alloys Operations$2,597.5 $2,542.2 
Performance Engineered Products439.1 431.5 
Corporate294.4 334.8 
Intersegment(4.3)(16.8)
Consolidated total assets$3,326.7 $3,291.7