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Pension and Other Postretirement Benefits
 9 Months Ended
Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits
 
The components of the net periodic benefit cost related to the Company’s pension and other postretirement benefits for the three and nine months ended March 31, 2017 and 2016 were as follows:
 
Three months ended March 31,
 
Pension Plans
 
Other Postretirement Plans
($ in millions)
 
2017
 
2016
 
2017
 
2016
Service cost
 
$
2.2

 
$
7.8

 
$
0.9

 
$
0.8

Interest cost
 
12.4

 
14.4

 
2.3

 
2.5

Expected return on plan assets
 
(16.6
)
 
(16.4
)
 
(1.7
)
 
(1.7
)
Amortization of net loss
 
9.5

 
6.8

 
0.8

 
0.7

Amortization of prior service cost (benefit)
 
0.5

 
0.1

 
(1.6
)
 
(1.6
)
    Net periodic benefit costs
 
$
8.0

 
$
12.7

 
$
0.7

 
$
0.7


Nine months ended March 31,
 
Pension Plans
 
Other Postretirement Plans
($ in millions)
 
2017
 
2016
 
2017
 
2016
Service cost
 
$
18.1

 
$
23.4

 
$
2.8

 
$
2.5

Interest cost
 
37.8

 
43.2

 
6.9

 
7.7

Expected return on plan assets
 
(48.4
)
 
(49.3
)
 
(5.1
)
 
(5.2
)
Amortization of net loss
 
28.3

 
20.5

 
2.4

 
2.0

Amortization of prior service cost (benefit)
 
1.3

 
0.3

 
(4.9
)
 
(4.8
)
Curtailment charge
 
0.5

 
—

 
—

 
—

    Net periodic benefit costs
 
$
37.6

 
$
38.1

 
$
2.1

 
$
2.2


In September 2016, the Company announced changes to retirement plans it offers to certain employees. The Company has frozen benefits accrued to eligible participants of its largest qualified defined benefit pension plan and certain non-qualified benefit plans effective December 31, 2016.  The Company recognized the plan freeze in the three months ended September 30, 2016 as a curtailment, since it eliminated the accrual of defined benefits for future services for a significant number of participants. The impact of the curtailment included a one-time accelerated recognition of outstanding unamortized prior service costs of $0.5 million, which was recognized in the three months ended September 30, 2016. The curtailment event triggered a re-measurement for the affected benefit plans as of August 31, 2016 using a weighted average discount rate of 3.57 percent. The re-measurement resulted in a reduction of accrued pension liabilities of $18.7 million.
In October 2016, the Company made a voluntary pension contribution of $100.0 million to its largest qualified defined benefit pension plan.  The Company currently expects to make no contributions to its qualified defined benefit pension plans during the remainder of fiscal year 2017.