Restructuring Charges

12 Months Ended

Jun. 30, 2015

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

During the year ended June 30, 2015, the Company initiated restructuring actions to reduce overhead costs and position the Company to drive long-term, profitable growth. Activities undertaken in connection with the restructuring plan are expected to be substantially complete by the end of the first quarter of fiscal year 2016.

The restructuring charges for fiscal year 2015 amounted to $29.1 million before taxes. The components of the restructuring charges for the years ended June 30, 2015, 2014 and 2013 were as follows:    

	Years Ended June 30,
($ in millions)	2015		2014		2013
Personnel-related costs	$	12.7	$	—	$	—
Site closure costs	3.0		—		—
Material development program exit costs	13.4		—		—
	$	29.1	$	—	$	—

The personnel-related costs of severance payments, medical coverage and related items during the year ended June 30, 2015 include $2.5 million cash payments, $2.3 million accrued expenses to be paid in fiscal year 2016, $8.3 million payments from the Company's qualified pension plan and $0.4 million of non-cash forfeiture income related to stock-based compensation.

The material development program exit costs during the year ended June 30, 2015 include an $8.0 million cash payment to exit a licensing agreement and non-cash asset impairment charges totaling $5.4 million.

The site closure costs during the year ended June 30, 2015 consist of $0.4 million cash payments and $2.6 million non-cash write-downs of inventory, property and equipment and related items.

Activity and reserve balances for restructuring charges at June 30, 2015 and 2014 were as follows:

($ in millions)	Reserve Balance
Reserve balance at June 30, 2014	$	—
Restructuring charges	29.1
Cash payments	(10.9		)
Payments from qualified pension plan associated with restructuring charges	(8.3		)
Non-cash asset impairment charges and other	(7.6		)
Reserve balance at June 30, 2015	$	2.3