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Restructuring and Asset Impairment Charges
 9 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Asset Impairment Charges Restructuring and Asset Impairment Charges
Restructuring and asset impairment charges for the three and nine months ended March 31, 2025, were $0.0 million and $3.6 million, respectively, compared to no restructuring and asset impairment charges for the three and nine months ended March 31, 2024.

During the nine months ended March 31, 2025, the Company recorded additional restructuring and asset impairment charges of $3.6 million as a result of the prior year actions taken to streamline operations in the Carpenter Additive business in the Performance Engineered Products ("PEP") segment. The restructuring and asset impairment charges included $2.5 million of noncash pre-tax inventory impairment charges. The Company also recognized $1.1 million of costs related to the decommissioning of property, plant and equipment previously impaired during the quarter ended June 30, 2024.

The reserve balances and activity for restructuring charges at March 31, 2025 and June 30, 2024 were as follows:

($ in millions)March 31, 2025June 30, 2024
Reserve balance at beginning of fiscal year$1.1 $— 
Restructuring charges excluding noncash impairments1.1 1.1 
Cash payments(2.2)— 
Reserve balance at end of period$— $1.1