Property, Plant and Equipment

12 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment consisted of the following components at June 30, 2018 and 2017:

	June 30,
($ in millions)	2018		2017
Land	$	34.8	$	34.1
Buildings and building equipment	500.0		495.7
Machinery and equipment	2,129.0		2,082.4
Construction in progress	83.6		56.3
Total at cost	2,747.4		2,668.5
Less: accumulated depreciation and amortization	1,434.0		1,351.7
Total property, plant, and equipment	$	1,313.4	$	1,316.8

The estimated useful lives of depreciable assets are as follows:

Asset Category	Useful Life (in Years)
Buildings and building equipment	10 – 45
Machinery and equipment	3 – 30

As a result of the prolonged weakness in oil and gas drilling and exploration activities and the impact this weakness had on certain reporting units in the PEP segment, the Company recorded an impairment charge related to property, plant and equipment of $6.5 million during fiscal year 2016.

Depreciation for the years ended June 30, 2018, 2017 and 2016 was $104.7 million, $105.8 million and $106.5 million, respectively.