Supplemental Balance Sheet Information

9 Months Ended

Mar. 31, 2019

Balance Sheet Related Disclosures [Abstract]

Supplemental Balance Sheet Information

SUPPLEMENTAL BALANCE SHEET INFORMATION

Supplemental balance sheet information at March 31, 2019 and June 30, 2018 is detailed in the following tables.

Inventories

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

(Dollars in millions)	March 31, 2019		June 30, 2018
Raw materials and supplies	$	167.1	$	137.1
Work-in-process	59.2		42.3
Finished goods	41.9		48.3
Total inventories, gross	268.2		227.7
Inventory cost adjustment	(21.2)		(18.6)
Inventories	$	247.0	$	209.1

Prepaid expenses and other

Prepaid expenses and other consist of the following:

(Dollars in millions)	March 31, 2019		June 30, 2018
Prepaid expenses	$	30.2	$	19.2
Spare parts supplies	9.7		11.1
Prepaid income tax	10.9		7.2
Non-U.S. value-added tax	14.5		12.5
Other current assets	20.0		15.2
Prepaid expenses and other	$	85.3	$	65.2

Property, plant, and equipment, net

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

(Dollars in millions)	March 31, 2019		June 30, 2018
Land, buildings, and improvements	$	956.7	$	928.1
Machinery, equipment, and capitalized software	1,030.0		988.1
Furniture and fixtures	16.0		14.9
Construction in progress	180.4		166.8
Property, plant, and equipment, at cost	2,183.1		2,097.9
Accumulated depreciation	(881.6)		(827.3)
Property, plant, and equipment, net	$	1,301.5	$	1,270.6

Depreciation expense was $35.0 million and $104.8 million for the three and nine months ended March 31, 2019, respectively, and $34.1 million and $92.4 million for the three and nine months ended March 31, 2018, respectively. Depreciation expense includes amortization of assets related to capital leases. The Company charges repairs and maintenance costs to expense as incurred. The amount of capitalized interest was immaterial for all periods presented. 

Other accrued liabilities

Other accrued liabilities consist of the following:

(Dollars in millions)	March 31, 2019		June 30, 2018
Accrued employee-related expenses	$	88.7	$	104.3
Restructuring accrual	9.9		9.4
Accrued interest	10.8		16.5
Contract liability	89.2		100.9
Accrued income tax	10.2		25.9
Other accrued liabilities and expenses	44.0		55.9
Other accrued liabilities	$	252.8	$	312.9