Supplemental Balance Sheet Information (Tables)

9 Months Ended

Mar. 31, 2017

Balance Sheet Related Disclosures [Abstract]

Work-in-process and finished goods inventories include raw materials, labor, and overhead. Total inventories consist of the following:



(Dollars in millions)	March 31, 2017			June 30, 2016
Raw materials and supplies	$	113.5		$	88.7
Work-in-process	41.8			30.7
Finished goods	55.1			55.2
Total inventories, gross	210.4			174.6
Inventory reserve	(16.5		)	(19.8		)
Inventories	$	193.9		$	154.8

Prepaid and Other Assets

Prepaid expenses and other current assets consist of the following:



(Dollars in millions)	March 31, 2017		June 30, 2016
Prepaid expenses	$	22.4	$	29.3
Spare parts supplies	11.7		10.8
Short term investments	—		7.0
Long term tax asset (current portion) ⁽¹⁾	—		6.8
Available for sale investment	27.6		—
Other current assets	29.0		35.1
Prepaid expenses and other	$	90.7	$	89.0

(1) The Company transferred certain intellectual property assets between jurisdictions in the year ended June 30, 2016, resulting in a deferred tax charge which will be amortized over the remaining 10-year useful life of the assets. The Company adopted ASU 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory effective July 1, 2016 and subsequently adjusted the long-term tax asset. Refer to Note 1 for further information.

Property and Equipment

Property, plant, and equipment, net consist of the following:



(Dollars in millions)	March 31, 2017			June 30, 2016
Land, buildings, and improvements	$	720.8		$	649.6
Machinery, equipment, and capitalized software	804.8			757.1
Furniture and fixtures	10.1			9.9
Construction in progress	125.3			134.1
Property, plant, and equipment, at cost	1,661.0			1,550.7
Accumulated depreciation	(692.1		)	(644.9		)
Property, plant, and equipment, net	$	968.9		$	905.8

Other Accrued Liabilities

Other accrued liabilities consist of the following:



(Dollars in millions)	March 31, 2017		June 30, 2016
Accrued employee-related expenses	$	82.9	$	82.8
Restructuring accrual	3.9		6.1
Accrued interest	6.2		0.1
Deferred revenue and fees	59.4		46.2
Accrued income tax	27.6		38.8
Other accrued liabilities and expenses	48.8		45.8
Other accrued liabilities	$	228.8	$	219.8