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Reclassifications from Accumulated Other Comprehensive (Loss) Income
 12 Months Ended
Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Reclassifications from Accumulated Other Comprehensive (Loss) Income Reclassifications from Accumulated Other Comprehensive (Loss) Income
 
The changes in AOCI by component, net of tax, for the years ended June 30, 2020 and 2019 were as follows:

($ 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
Balance at June 30, 2019
 
$
(14.8
)
 
$
(293.3
)
 
$
—

 
$
(43.7
)
 
$
(351.8
)
Other comprehensive income (loss) before reclassifications
 
13.3

 
(53.3
)
 


 
(8.9
)
 
(48.9
)
Amounts reclassified from AOCI (b)
 
(9.6
)
 
12.3

 
—

 
—

 
2.7

 
 
 
 
 
 
 
 
 
 
 
Net current-period other comprehensive income (loss)
 
3.7

 
(41.0
)
 
—

 
(8.9
)
 
(46.2
)
 
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2020
 
$
(11.1
)
 
$
(334.3
)
 
$
—

 
$
(52.6
)
 
$
(398.0
)
($ 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
Balance at June 30, 2018
 
$
23.8

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

 
—

 
—

 
$
(1.0
)
Other comprehensive (loss) income before reclassifications
 
(32.7
)
 
(79.7
)
 
0.3

 
(0.8
)
 
(112.9
)
Amounts reclassified from AOCI (b)
 
(4.9
)
 
6.8

 
—

 
—

 
1.9

 
 
 
 
 
 
 
 
 
 
 
Net current-period other comprehensive (loss)
 income
 
(38.6
)
 
(72.9
)
 
0.3

 
(0.8
)
 
(112.0
)
 
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2019
 
$
(14.8
)
 
$
(293.3
)
 
$
—

 
$
(43.7
)
 
$
(351.8
)

(a)                       All amounts are net of tax. Amounts in parentheses indicate debits.
(b)                       See separate table below for further details.
 
The following is a summary of amounts reclassified from AOCI for the years ended June 30, 2020 and 2019:
 
 
 
 
 
Amount Reclassified from AOCI
 
 
 
 
Years Ended June 30,
($ in millions) (a)
 
Location of gain
(loss)
 
2020
 
2019
Details about AOCI Components
 
 
 
 

 
 
Cash flow hedging items
 
 
 
 

 
 
Commodity contracts
 
Cost of sales
 
$
11.5

 
$
5.1

Foreign exchange contracts
 
Net sales
 
0.8

 
1.0

Forward interest rate swaps
 
Interest expense
 
0.4

 
0.4

 
 
Total before tax
 
12.7

 
6.5

 
 
Tax expense
 
(3.1
)
 
(1.6
)
 
 
Net of tax
 
$
9.6

 
$
4.9

Amortization of pension and other postretirement benefit plan items
 
 
 
 

 
 

Net actuarial loss
 
(b)
 
$
(18.0
)
 
$
(12.0
)
Prior service cost
 
(b)
 
1.8

 
3.1

 
 
Total before tax
 
(16.2
)
 
(8.9
)
 
 
Tax benefit
 
3.9

 
2.1

 
 
Net of tax
 
$
(12.3
)
 
$
(6.8
)

(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 12 for additional details).