Leases (Tables)

9 Months Ended

Mar. 31, 2021

The following table sets forth the components of the Company’s lease cost for the three and nine months ended March 31, 2021:


	Three Months Ended March 31,				Nine Months Ended March 31,
($ in millions)	2021		2020		2021		2020
Operating lease cost	$	3.0	$	3.8	$	9.8	$	10.8
Short-term lease cost	0.7		0.9		2.3		2.7
Variable lease cost	—		0.1		0.2		0.3
Sublease income	(0.3)		—		(0.5)		—
Total lease cost	$	3.4	$	4.8	$	11.8	$	13.8

Operating cash flow payments from operating leases	$	3.1	$	3.9	$	10.2	$	10.5
Non-cash ROU assets obtained in exchange for lease obligations	$	—	$	5.2	$	1.4	$	18.7

The following table sets forth the Company’s weighted-average remaining lease term and weighted-average discount rate at March 31, 2021 and June 30, 2020:


	March 31, 2021		June 30, 2020
Weighted-average remaining lease term - operating leases	8.4 years		8.1 years
Weighted-average discount rate - operating leases	4.0	%	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 March 31, 2021 and June 30, 2020:


($ in millions)	March 31, 2021		June 30, 2020
Operating lease assets:
Other assets	$	35.9	$	52.0
Operating lease liabilities:
Other accrued liabilities	$	9.3	$	11.5
Other liabilities	37.2		50.3
Total operating lease liabilities	$	46.5	$	61.8

Schedule of minimum lease payments for operating leases expiring

Minimum lease payments for operating leases expiring subsequent to March 31, 2021 are as follows:


($ in millions)	March 31, 2021
2021 (remaining period of fiscal year)	$	2.9
2022	10.2
2023	8.5
2024	6.4
2025	4.1
Thereafter	23.9
Total future minimum lease payments	56.0
Less imputed interest	(9.5)
Total	$	46.5