Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes for the Company's Domestic and Foreign Operations

(Loss) income before income taxes for the Company's domestic and foreign operations was as follows:

	Years Ended June 30,
($ in millions)	2021		2020		2019
Domestic	$	(252.5)	$	20.9	$	204.2
Foreign	(45.4)		(14.8)		11.8
(Loss) income before income taxes	$	(297.9)	$	6.1	$	216.0

Schedule of Provision (Benefit) for Income Taxes from Continuing Operations

The (benefit) expense for income taxes from continuing operations consisted of the following:

	Years Ended June 30,
($ in millions)	2021		2020		2019
Current:
Federal	$	(37.3)	$	1.3	$	23.2
State	(0.6)		1.8		4.4
Foreign	3.2		1.9		4.9
Total current	(34.7)		5.0		32.5
Deferred:
Federal	(22.6)		(1.8)		13.1
State	(10.5)		0.3		3.6
Foreign	(0.5)		1.1		(0.2)
Total deferred	(33.6)		(0.4)		16.5
Total income tax (benefit) expense	$	(68.3)	$	4.6	$	49.0

Schedule of Reconciliation of Income Taxes Computed at the U.S. Federal Income Tax Rate to the Company's Effective Income Tax Rate

The following is a reconciliation of income taxes computed at the U.S. Federal income tax rate to the Company's effective income tax rates: 

	Years Ended June 30,
(% of pre-tax (loss) income)	2021		2020		2019
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.9		2.1		3.0
Foreign tax rate differential	(0.4)		24.4		0.7
Federal tax rate differential loss carryback	2.3		—		—
Research and development tax credit	1.1		(63.2)		(1.1)
Adjustments of prior years' income taxes	(0.2)		45.5		(0.2)
Remeasurement of U.S. deferred taxes	—		—		0.1
Transition tax on foreign earnings	—		—		(0.1)
Non-deductible goodwill impairment	(3.3)		32.5		—
Non-taxable income	0.4		(1.2)		(0.1)
Non-deductible expenses	—		24.9		1.0
Share-based compensation	(0.5)		(2.3)		(0.5)
Changes in valuation allowances	(0.3)		(6.4)		0.2
Law changes	—		(1.3)		(0.7)
Other, net	(0.1)		(0.6)		(0.6)
Effective income tax rate	22.9	%	75.4	%	22.7	%

Summary of Components of Deferred Tax Assets and Liabilities

	June 30,
($ in millions)	2021		2020
Deferred tax assets:
Pensions	$	51.5	$	96.7
Postretirement provisions	30.5		39.1
Net operating loss carryforwards	38.7		28.1
Tax credit carryforwards	26.0		0.6
Operating lease liability	8.9		14.7
Other	38.7		34.2
Gross deferred tax assets	194.3		213.4
Valuation allowances	(25.2)		(24.2)
Total deferred tax assets	169.1		189.2
Deferred tax liabilities:
Depreciation	(271.3)		(257.7)
Intangible assets	(6.1)		(5.2)
Inventories	(30.6)		(33.9)
Operating lease right-of-use asset	(6.6)		(12.6)
Other	(6.0)		(5.1)
Total deferred tax liabilities	(320.6)		(314.5)
Deferred tax liabilities, net	$	(151.5)	$	(125.3)