Reclassifications from Accumulated Other Comprehensive (Loss) Income

12 Months Ended

Jun. 30, 2021

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, 2021 and 2020 were as follows:

($ in millions) (a)	Cash flow hedging items		Pension and other postretirement benefit plan items		Foreign currency items		Total
Balance at June 30, 2020	$	(11.1)	$	(334.3)	$	(52.6)	$	(398.0)
Other comprehensive income before reclassifications	23.3		153.6		12.5		189.4
Amounts reclassified from AOCI (b)	(5.3)		21.6		—		16.3
Net current-period other comprehensive income	18.0		175.2		12.5		205.7
Balance at June 30, 2021	$	6.9	$	(159.1)	$	(40.1)	$	(192.3)

($ in millions) (a)	Cash flow hedging items		Pension and other postretirement benefit plan items		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)

(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, 2021 and 2020:

		Amount Reclassified from AOCI
		Years Ended June 30,
($ in millions) (a)	Location of gain (loss)	2021		2020
Details about AOCI Components
Cash flow hedging items
Commodity contracts	Cost of sales	$	6.6	$	11.5
Foreign exchange contracts	Net sales	—		0.8
Forward interest rate swaps	Interest expense	0.4		0.4
	Total before tax	7.0		12.7
	Tax expense	(1.7)		(3.1)
	Net of tax	$	5.3	$	9.6
Amortization of pension and other postretirement benefit plan items
Net actuarial loss	(b)	$	(18.9)	$	(18.0)
Prior service cost	(b)	1.8		1.8
Settlement charge	(b)	(11.4)		—
	Total before tax	(28.5)		(16.2)
	Tax benefit	6.9		3.9
	Net of tax	$	(21.6)	$	(12.3)

(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).