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Restructuring and Asset Impairment Charges
 12 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Asset Impairment Charges Restructuring and Asset Impairment Charges
Restructuring and asset impairment charges for the years ended June 30, 2025, 2024 and 2023, were $3.6 million, $16.9 million and $0.0 million, respectively. These charges were a result of actions taken to streamline operations in the Carpenter Additive business in the PEP segment, as announced in the quarter ended June 30, 2024.

During fiscal year 2025, the Company recorded restructuring and asset impairment charges of $3.6 million. This included $2.5 million of noncash pre-tax inventory impairment charges and $1.1 million of costs related to the decommissioning of property, plant and equipment previously impaired during the quarter ended June 30, 2024. During fiscal year 2024, the Company recorded restructuring and asset impairment charges of $16.9 million. This included $15.8 million of noncash pre-tax impairment charges related to $8.8 million of property, plant, equipment and software and $7.0 million associated with a certain definite lived intangible asset. The Company also recognized $1.1 million of various personnel costs for severance payments, medical coverage and related items.

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

 June 30,
($ in millions)20252024
Reserve balance beginning of year$1.1 $— 
Restructuring charges excluding noncash impairments1.1 1.1 
Cash payments(2.2)— 
Reserve balance end of year$— $1.1