Derivatives and Hedging Activities (Tables)

3 Months Ended

Sep. 30, 2013

Derivatives and Hedging Activities

Schedule of fair value and location of outstanding derivative contracts recorded in balance sheets

September 30, 2013 ($ in millions)	Foreign Currency Contracts		Commodity Contracts		Total Derivatives
Asset Derivatives:
Derivatives designated as hedging instruments:
Other current assets	$	0.3	$	-	$	0.3
Other assets	-		0.1		0.1
Total asset derivatives	$	0.3	$	0.1	$	0.4
Liability Derivatives:
Derivatives designated as hedging instruments:
Accrued liabilities	$	1.0	$	27.6	$	28.6
Other liabilities	-		38.8		38.8
Total liability derivatives	$	1.0	$	66.4	$	67.4
June 30, 2013 ($ in millions)	Foreign Currency Contracts		Commodity Contracts		Total Derivatives
Asset Derivatives:
Derivatives designated as hedging instruments:
Other current assets	$	0.9	$	-	$	0.9
Other assets	-		-		-
Total asset derivatives	$	0.9	$	-	$	0.9
Liability Derivatives:
Derivatives designated as hedging instruments:
Accrued liabilities	$	0.4	$	28.7	$	29.1
Other liabilities	-		44.0		44.0
Total liability derivatives	$	0.4	$	72.7	$	73.1

Summary of the gains (losses) related to cash flow hedges

	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)
	Three Months Ended
($ in millions)	September 30,
Derivatives in Cash Flow Hedging Relationship:	2013		2012
Commodity contracts	$	1.4	$	24.0
Foreign exchange contracts	0.5		(0.1		)
Forward interest rate swaps	-		(1.7		)
Total	$	1.9	$	22.2

($ in millions)		Amount of (Loss) Gain Reclassified from AOCI into Income (Effective Portion)
	Location of (Loss) Gain	Three Months Ended
Derivatives in Cash Flow	Reclassified from AOCI into	September 30,
Hedging Relationship	Income (Effective Portion)	2013			2012
Commodity contracts	Cost of sales	$	(7.7	)	$	(9.2	)
Foreign exchange contracts	Net sales	(0.1		)	0.1
Forward interest rate swaps	Interest expense	0.1			-
Total		$	(7.7	)	$	(9.1	)

Schedule of changes in AOCI associated with derivative hedging activities

	September 30,
($ in millions)	2013			2012
Balance at July 1	$	(41.5	)	$	(32.8	)
Current period changes in fair value, net of tax	(1.2		)	14.0
Reclassification to earnings, net of tax	4.8			5.7
Balance at September 30	$	(37.9	)	$	(13.1	)