Derivatives and Hedging Activities (Tables)

9 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value and Location of Outstanding Derivative Contracts Recorded in Consolidated Balance Sheets

The fair value and location of outstanding derivative contracts recorded in the accompanying consolidated balance sheets were as follows as of March 31, 2025 and June 30, 2024:

March 31, 2025	Foreign Currency Contracts		Commodity Contracts		Total Derivatives
($ in millions)
Asset Derivatives:
Other current assets	$	0.1	$	1.9	$	2.0
Other assets	—		0.1		0.1
Total asset derivatives	$	0.1	$	2.0	$	2.1
Liability Derivatives:
Accrued liabilities	$	—	$	2.0	$	2.0
Other liabilities	—		0.1		0.1
Total liability derivatives	$	—	$	2.1	$	2.1

June 30, 2024	Foreign Currency Contracts		Commodity Contracts		Total Derivatives
($ in millions)
Asset Derivatives:
Other current assets	$	—	$	—	$	—
Other assets	—		—		—
Total asset derivatives	$	—	$	—	$	—
Liability Derivatives:
Accrued liabilities	$	—	$	3.6	$	3.6
Other liabilities	1.4		0.8		2.2
Total liability derivatives	$	1.4	$	4.4	$	5.8

Summary of the Gains (Losses) Related to Cash Flow Hedges

The following is a summary of the gains (losses) related to cash flow hedges recognized during the three and nine months ended March 31, 2025 and 2024:

	Amount of Gain (Loss) Recognized in AOCI on Derivatives
	Three Months Ended March 31,				Nine Months Ended March 31,
($ in millions)	2025		2024		2025		2024
Derivatives in Cash Flow Hedging Relationship:
Commodity contracts	$	2.4	$	(1.2)	$	0.1	$	(9.3)
Total	$	2.4	$	(1.2)	$	0.1	$	(9.3)

	Location of Loss Reclassified from AOCI into Income	Amount of Loss Reclassified from AOCI into Income
		Three Months Ended March 31,
($ in millions)		2025		2024
Derivatives in Cash Flow Hedging Relationship:
Commodity contracts	Cost of Sales	$	(0.7)	$	(4.2)
Total		$	(0.7)	$	(4.2)

	Location of Loss Reclassified from AOCI into Income	Amount of Loss Reclassified from AOCI into Income
		Nine Months Ended March 31,
($ in millions)		2025		2024
Derivatives in Cash Flow Hedging Relationship:
Commodity contracts	Cost of Sales	$	(3.9)	$	(7.4)
Total		$	(3.9)	$	(7.4)

Summary of Effect of Derivative Instruments on Income

The following is a summary of total amounts presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded during the three and nine months ended March 31, 2025 and 2024:

	Three Months Ended March 31, 2025		Three Months Ended March 31, 2024
($ in millions)	Cost of Sales		Cost of Sales
Total amounts presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded	$	526.2	$	537.9
Loss on Derivatives in Cash Flow Hedging Relationship:
Commodity contracts
Amount of loss reclassified from AOCI to income	$	(0.7)	$	(4.2)
Total loss	$	(0.7)	$	(4.2)

	Nine Months Ended March 31, 2025		Nine Months Ended March 31, 2024
($ in millions)	Cost of Sales		Cost of Sales
Total amounts presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded	$	1,566.9	$	1,567.4
Loss on Derivatives in Cash Flow Hedging Relationship:
Commodity contracts
Amount of loss reclassified from AOCI to income	$	(3.9)	$	(7.4)
Total loss	$	(3.9)	$	(7.4)