Leases (Tables)

6 Months Ended

Dec. 31, 2020

Leases [Abstract]

Summary of lease cost

The following table sets forth the components of the Company’s lease cost for the three and six months ended December 31, 2020:

	Three Months Ended December 31,				Six Months Ended December 31,
($ in millions)	2020		2019		2020		2019
Operating lease cost	$	3.2	$	3.5	$	6.8	$	7.0
Short-term lease cost	0.7		0.8		1.6		1.6
Variable lease cost	0.1		0.1		0.2		0.2
Sublease income	(0.2)		—		(0.3)		—
Total lease cost	$	3.8	$	4.4	$	8.3	$	8.8
Operating cash flow payments from operating leases	$	3.3	$	3.4	$	6.9	$	6.7
Non-cash ROU assets obtained in exchange for lease obligations	$	—	$	11.4	$	1.4	$	12.3

The following table sets forth the Company’s weighted-average remaining lease term and weighted-average discount rate at December 31, 2020 and June 30, 2020:

	December 31, 2020		June 30, 2020
Weighted-average remaining lease term - operating leases	8.0 years		8.1 years
Weighted-average discount rate - operating leases	3.9	%	3.9	%

Summary of right-of-use assets and lease liabilities

The following table sets forth the Company’s ROU assets and lease liabilities at December 31, 2020 and June 30, 2020:

($ in millions)	December 31, 2020		June 30, 2020
Operating lease assets:
Other assets	$	44.0	$	52.0
Operating lease liabilities:
Other accrued liabilities	$	10.7	$	11.5
Other liabilities	42.9		50.3
Total operating lease liabilities	$	53.6	$	61.8

Schedule of minimum lease payments for operating leases expiring

Minimum lease payments for operating leases expiring subsequent to December 31, 2020 are as follows:

($ in millions)	December 31, 2020
2021 (remaining period of fiscal year)	$	6.4
2022	11.4
2023	9.7
2024	7.6
2025	4.7
Thereafter	23.7
Total future minimum lease payments	63.5
Less imputed interest	(9.9)
Total	$	53.6