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Pension and Postretirement Benefit Plans (Tables)
 12 Months Ended
Jun. 30, 2021
Retirement Benefits [Abstract]  
Schedule of Net Funded Status
The following tables present changes in, and components of, the Company’s net assets/liabilities for pension and other postretirement benefits:

PensionPostretirement
DomesticInternationalDomestic
June 30,202120202021202020212020
(In millions)
Change in benefit obligation
Benefit obligation, beginning of year$169.8 $187.5 $815.1 $725.3 $8.5 $8.3 
Service cost9.3 9.7 — — — — 
Interest cost3.3 5.1 10.0 14.4 0.2 0.3 
Participant contributions— — — — 0.8 0.8 
Plan amendments0.1 — 1.5 — — — 
Net actuarial loss (gain)— 13.5 (22.2)124.3 (0.6)0.1 
Benefits paid (including lump sums)(1.1)(0.2)(19.8)(22.0)(0.9)(1.0)
Settlements(14.6)(45.8)— (4.0)— — 
Foreign currency exchange rate impact— — 101.9 (22.9)— — 
Benefit obligation, end of year$166.8 $169.8 $886.5 $815.1 $8.0 $8.5 
Change in plan assets
Fair value of plan assets, beginning of year$125.8 $135.4 $948.9 $872.1 $— $— 
Actual return on plan assets34.5 6.9 (40.4)112.7 — — 
Employer contributions5.8 29.5 14.9 18.2 0.1 0.2 
Participant contributions— — — — 0.8 0.8 
Benefits paid (including lump sums)(1.1)(0.2)(19.8)(22.0)(0.9)(1.0)
Settlements(14.6)(45.8)— (4.0)— — 
Foreign currency exchange rate impact— — 119.3 (28.1)— — 
Fair value of plan assets, end of year$150.4 $125.8 $1,022.9 $948.9 $— $— 
Over (under) funded status, end of year$(16.4)$(44.0)$136.4 $133.8 $(8.0)$(8.5)
Schedule of Amounts Recognized In Balance Sheet
The following amounts are recognized in the Consolidated Balance Sheets:

PensionPostretirement
DomesticInternationalDomestic
June 30,202120202021202020212020
(In millions)
Other assets
Prepaid benefit cost$26.5 $2.3 $144.2 $140.9 $— $— 
Accrued expenses-compensation and benefits— 
Accrued benefit liability(3.9)(6.3)(0.2)(0.1)(0.5)(0.6)
Other noncurrent liabilities
Accrued benefit liability(39.0)(40.0)(7.6)(7.0)(7.5)(7.9)
Net amount recognized, end of year$(16.4)$(44.0)$136.4 $133.8 $(8.0)$(8.5)
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
The following table provides information about pension plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets:

DomesticInternational
June 30,2021202020212020
(In millions)
Projected benefit obligation$43.0 $45.9 $7.8 $7.1 
Accumulated benefit obligation34.1 37.9 7.8 7.1 
Schedule of Net Benefit Costs
The components of net periodic benefit costs recognized in the Consolidated Statements of Earnings (Loss) were as follows:

PensionPostretirement
DomesticInternationalDomestic
Years ended June 30,
202120202019202120202019202120202019
(In millions)
Components of net periodic benefit costs
Service cost$9.3 $9.7 $11.5 $— $— $0.1 $— $— $— 
Interest cost3.3 5.1 6.5 10.0 14.4 16.9 0.2 0.3 0.3 
Expected return on plan assets(7.8)(9.2)(9.7)(16.9)(18.4)(31.5)— — — 
Prior service cost amortization0.4 0.5 0.5 0.2 0.2 — — — — 
Actuarial loss (gain) amortization2.6 2.8 1.9 — — — (0.3)(0.5)(0.6)
Settlement charges (credit)1.1 13.0 2.7 — 1.2 (4.1)— — — 
Contractual termination benefits— — 1.3 — — — — — — 
Net periodic benefit costs (credit)$8.9 $21.9 $14.7 $(6.7)$(2.6)$(18.6)$(0.1)$(0.2)$(0.3)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Amounts recognized in the accumulated other comprehensive loss component of shareholders’ equity for Company-sponsored plans were as follows:

PensionPostretirement
DomesticInternationalDomestic
June 30,202120202021202020212020
(In millions)
Unrecognized net actuarial losses (gains), net of taxes$2.7 $25.4 $66.2 $27.5 $(1.6)$(1.3)
Unrecognized prior service cost, net of taxes0.5 0.7 8.7 6.7 — — 
Total$3.2 $26.1 $74.9 $34.2 $(1.6)$(1.3)
Schedule of Assumptions Used
Benefit obligations were determined using the following weighted average assumptions:

PensionPostretirement
DomesticInternationalDomestic
June 30,202120202021202020212020
Weighted average assumptions
Discount rate2.55 %2.43 %1.57 %1.17 %2.75 %2.65 %
Rate of compensation increase3.01 %3.07 %n/an/a3.50 %3.50 %
Cash balance interest credit rate2.14 %2.08 %n/an/an/an/a
n/a - Not applicable

Net periodic benefit costs were determined using the following weighted average assumptions:

PensionPostretirement
DomesticInternationalDomestic
Years ended June 30,202120202019202120202019202120202019
Weighted average assumptions
Discount rate2.43 %3.39 %4.03 %1.17 %2.24 %2.57 %2.65 %3.45 %4.10 %
Expected return on plan assets7.00 %8.00 %8.00 %1.70 %2.20 %3.89 %n/an/an/a
Rate of compensation increase3.07 %3.09 %3.50 %n/an/an/a3.50 %3.50 %3.50 %
n/a - Not applicable
The assumed health care cost trend rates used to measure the expected cost of benefits were as follows:

Postretirement
Assumed healthcare cost trend rates as of June 30, 202120202019
Rate of increase in health care cost levels
Initial level6.50 %5.50 %6.00 %
Ultimate level5.00 %5.00 %5.00 %
Years to ultimate level6 years2 years3 years
Schedule of Targeted and Weighted Average Asset Allocations by Assets Category for Investments Pension Plans
The targeted and weighted average asset allocations by asset category for investments held by the Company’s pension plans are as follows:

DomesticInternational
2021 Allocation2020 Allocation2021 Allocation2020 Allocation
June 30,TargetActualTargetActualTargetActualTargetActual
Equity securities63 %66 %70 %69 %2 %2 %7 %6 %
Fixed-income securities37 %32 %30 %30 %61 %62 %55 %56 %
Other securities 1
— %2 %— %1 %37 %36 %38 %38 %
Total100 %100 %100 %100 %100 %100 %100 %100 %
1 Other primarily includes pooled investment funds and an insurance buy-in contract.
Schedule of Changes in Fair Value of Plan Assets
Fair value measurements for domestic pension plan assets were as follows:

(In millions)Total
Fair Value		Quoted Prices
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs (Level 3)
June 30, 2021
Investments in registered investment companies
Equity$99.5 $75.8 $23.7 $— 
Fixed Income48.5 8.3 40.2 — 
Pooled separate accounts2.4 — 2.4 — 
Total assets at fair value$150.4 $84.1 $66.3 $— 
June 30, 2020
Investments in registered investment companies
Equity$86.2 $63.9 $22.3 $— 
Fixed Income38.0 — 38.0 — 
Pooled separate accounts1.6 — 1.6 — 
Total assets at fair value$125.8 $63.9 $61.9 $— 

Fair value measurements for international pension plan assets were as follows:

(In millions)Total
Fair Value		Quoted Prices
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs (Level 3)
June 30, 2021
Cash and cash equivalents$4.8 $4.8 $— $— 
Pooled investments
Equity12.9 1.1 11.8 — 
Fixed Income55.3 6.8 48.5 — 
Other584.9 — 584.9 — 
Insurance buy-in contract365.0 — — 365.0 
Total assets at fair value$1,022.9 $12.7 $645.2 $365.0 
June 30, 2020
Cash and cash equivalents$10.3 $8.9 $1.4 $— 
Pooled investments
Equity58.8 1.5 57.3 — 
Fixed Income277.2 9.3 267.9 — 
Other253.6 — 253.6 — 
Insurance buy-in contract349.0 — — 349.0 
Total assets at fair value$948.9 $19.7 $580.2 $349.0 
The following table provides a reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

Year ended June 30,20212020
(In millions)
Balance at beginning of year$349.0 $— 
Purchases— 353.6 
Settlements(11.7)— 
Change in fair value(16.1)(3.2)
Foreign currency translation43.8 (1.4)
Balance at end of year$365.0 $349.0 
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid:

Years ending June 30,Pension
Benefits		Postretirement
Benefits
(In millions)DomesticInternationalDomestic
2022$17.3 $18.8 $0.6 
202316.9 19.4 0.6 
202416.2 20.4 0.5 
202519.3 22.7 0.5 
202618.1 23.0 0.5 
2027-203174.5 131.4 2.3