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Property, Plant, Equipment and Software, net
 12 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant, Equipment and Software, net Property, Plant, Equipment and Software, net
 
Property, plant, equipment and software, net consisted of the following components at June 30, 2025 and 2024:

 June 30,
($ in millions)20252024
Land$41.6 $40.6 
Buildings and building equipment576.5 562.7 
Machinery and equipment2,547.5 2,454.4 
Capitalized software228.6 225.3 
Construction in progress103.1 68.2 
Total at cost3,497.3 3,351.2 
Less: accumulated depreciation and amortization2,137.9 2,016.0 
Total property, plant, equipment and software, net$1,359.4 $1,335.2 
 
The estimated useful lives of depreciable assets are as follows:
 
Asset Category Useful Life
(in Years)
Buildings and building equipment 
10 – 45
Machinery and equipment 
3 – 30
Capitalized software
3 – 15
Depreciation for the years ended June 30, 2025, 2024 and 2023 was $116.7 million, $111.8 million and $107.9 million, respectively. Amortization related to capitalized software amounted to $16.8 million, $16.3 million and $16.3 million for the years ended June 30, 2025, 2024 and 2023, respectively. As a result of the actions taken to streamline operations in the Carpenter Additive business, during the quarter ended June 30, 2024, the Company announced the planned closure of the Carpenter Additive operations in the United Kingdom. As a result, the Company recorded impairment charges of $8.8 million related to property, plant, equipment and software during fiscal year 2024.