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Reclassifications from Accumulated Other Comprehensive (Loss) Income (AOCI) (Tables)
 9 Months Ended
Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of changes in AOCI by component, net of tax
The changes in AOCI by component, net of tax, for the three months ended March 31, 2020 and 2019 were as follows:
 

Three Months Ended March 31, 2020
($ in millions) (a)
 
Cash flow
hedging items
 
Pension and
other
postretirement
benefit plan
items
 
Unrealized
losses on
available-for-
sale securities
 
Foreign
currency
items
 
Total
Balances at December 31, 2019
 
$
(7.2
)
 
$
(287.3
)
 
$
—

 
$
(41.8
)
 
$
(336.3
)
Other comprehensive loss before reclassifications
 
(7.1
)
 
—

 
—

 
(13.2
)
 
(20.3
)
Amounts reclassified from AOCI (b)
 
(1.8
)
 
3.1

 
—

 
—

 
1.3

Net other comprehensive (loss) income
 
(8.9
)
 
3.1

 
—

 
(13.2
)
 
(19.0
)
Balances at March 31, 2020
 
$
(16.1
)
 
$
(284.2
)
 
$
—

 
$
(55.0
)
 
$
(355.3
)
 

Three Months Ended March 31, 2019
($ in millions) (a)
 
Cash flow
hedging items
 
Pension and
other
postretirement
benefit plan
items
 
Unrealized
losses on
available-for-
sale securities
 
Foreign
currency
items
 
Total
Balances at December 31, 2018
 
$
(15.6
)
 
$
(217.0
)
 
$
—

 
$
(44.9
)
 
$
(277.5
)
Other comprehensive income before reclassifications
 
5.0

 
—

 
—

 
1.1

 
6.1

Amounts reclassified from AOCI (b)
 
(1.8
)
 
1.7

 
—

 
—

 
(0.1
)
Net other comprehensive income
 
3.2

 
1.7

 
—

 
1.1

 
6.0

Balances at March 31, 2019
 
$
(12.4
)
 
$
(215.3
)
 
$
—

 
$
(43.8
)
 
$
(271.5
)

(a)
All amounts are net of tax. Amounts in parentheses indicate debits.
(b)
See separate table below for further details.

The changes in AOCI by component, net of tax, for the nine months ended March 31, 2020 and 2019 were as follows:
Nine Months Ended March 31, 2020
($ in millions) (a)
 
Cash flow
hedging items
 
Pension and
other
postretirement
benefit plan
items
 
Unrealized
losses on
available-for-
sale securities
 
Foreign
currency
items
 
Total
Balances at June 30, 2019
 
$
(14.8
)
 
$
(293.3
)
 
$
—

 
$
(43.7
)
 
$
(351.8
)
Other comprehensive income (loss) before reclassifications
 
6.8

 
—

 
—

 
(11.3
)
 
(4.5
)
Amounts reclassified from AOCI (b)
 
(8.1
)
 
9.1

 
—

 
—

 
1.0

Net other comprehensive (loss) income
 
(1.3
)
 
9.1

 
—

 
(11.3
)
 
(3.5
)
Balances at March 31, 2020
 
$
(16.1
)
 
$
(284.2
)
 
$
—

 
$
(55.0
)
 
$
(355.3
)

Nine Months Ended March 31, 2019
($ in millions) (a)
 
Cash flow
hedging items
 
Pension and
other
postretirement
benefit plan
items
 
Unrealized
(losses) gains on
available-for-
sale securities
 
Foreign
currency
items
 
Total
Balances at June 30, 2018
 
$
23.8

 
$
(220.4
)
 
$
(0.3
)
 
$
(42.9
)
 
$
(239.8
)
Cumulative adjustment upon adoption of ASU 2017-12
 
(1.0
)
 
—

 
—

 
—

 
(1.0
)
Other comprehensive (loss) income before reclassifications
 
(34.2
)
 
—

 
0.3

 
(0.9
)
 
(34.8
)
Amounts reclassified from AOCI (b)
 
(1.0
)
 
5.1

 
—

 
—

 
4.1

Net other comprehensive (loss) income
 
(36.2
)
 
5.1

 
0.3

 
(0.9
)
 
(31.7
)
Balance at March 31, 2019
 
$
(12.4
)
 
$
(215.3
)
 
$
—

 
$
(43.8
)
 
$
(271.5
)

(a)
All amounts are net of tax. Amounts in parentheses indicate debits.
(b)
See separate table below for further details.
Schedule of amounts reclassified from AOCI
The following is a summary of amounts reclassified from AOCI for the three and nine months ended March 31, 2020 and 2019:

Details about AOCI Components
 
Location of
gain (loss)
 
Amount Reclassified from AOCI
Three Months Ended March 31,
 
Amount Reclassified from AOCI
Nine Months Ended March 31,
($ in millions) (a)
 
 
2020
 
2019
 
2020
 
2019
Cash flow hedging items:
 
 
 
 

 
 

 
 
 
 
Commodity contracts
 
Cost of sales
 
$
2.2

 
$
2.1

 
$
9.7

 
$
0.3

Foreign exchange contracts
 
Net sales
 
0.1

 
0.2

 
0.7

 
0.8

Forward interest rate swaps
 
Interest expense
 
0.1

 
0.1

 
0.3

 
0.3

Total before tax
 
 
 
2.4

 
2.4


10.7


1.4

Tax expense
 
 
 
(0.6
)
 
(0.6
)
 
(2.6
)
 
(0.4
)
Net of tax
 
 
 
$
1.8

 
$
1.8


$
8.1


$
1.0


Details about AOCI Components
 
Location of
gain (loss)
 
Amount Reclassified from AOCI
Three Months Ended March 31,
 
Amount Reclassified from AOCI
Nine Months Ended March 31,
($ in millions) (a)
 
 
2020
 
2019
 
2020
 
2019
Amortization of pension and other postretirement benefit plan items:
 
 
 
 

 
 

 
 
 
 
Net actuarial loss
 
(b)
 
$
(4.5
)
 
$
(3.0
)
 
$
(13.5
)
 
$
(9.0
)
Prior service benefit
 
(b)
 
0.5

 
0.8

 
1.3

 
2.4

Total before tax
 
 
 
(4.0
)
 
(2.2
)

(12.2
)

(6.6
)
Tax benefit
 
 
 
0.9

 
0.5

 
3.1

 
1.5

Net of tax
 
 
 
$
(3.1
)
 
$
(1.7
)

$
(9.1
)

$
(5.1
)

(a)
Amounts in parentheses indicate debits to income/loss.
(b)
These AOCI components are included in the computation of net periodic benefit cost (see Note 9. Pension and Other Postretirement Benefits for additional details).