XML 33 R18.htm IDEA: XBRL DOCUMENT v3.22.2.2
Property, Plant and Equipment, net
 12 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, net Property, Plant and Equipment, net
 
Property, plant and equipment, net consisted of the following components at June 30, 2022 and 2021:

 June 30,
($ in millions)20222021
Land$38.3 $36.5 
Buildings and building equipment546.5 537.6 
Machinery and equipment2,348.4 2,234.6 
Capitalized software219.8 221.2 
Construction in progress66.5 120.0 
Total at cost3,219.5 3,149.9 
Less: accumulated depreciation and amortization1,798.7 1,692.4 
Total property, plant and equipment, net$1,420.8 $1,457.5 
 
The estimated useful lives of depreciable assets are as follows:
 
Asset Category Useful Life
(in Years)
Buildings and building equipment 
10 – 45
Machinery and equipment 
3 – 30
Capitalized software
3 – 12

As a result of targeted cost reduction activities, as further described in Note 2, the Company executed restructuring activities within the Additive reporting unit in both fiscal years 2021 and 2020. As a result, the Company recorded impairment charges related to property, plant and equipment of $8.2 million during fiscal year 2021. During fiscal year 2020 the Company approved a plan to exit the oil and gas business and closed two powder facilities in the PEP segment. As a result, the Company recorded impairment charges related to property, plant and equipment of $31.4 million in fiscal year 2020.
Depreciation for the years ended June 30, 2022, 2021 and 2020 was $107.6 million, $104.7 million and $111.0 million, respectively. Amortization related to capitalized software amounted to $16.9 million, $12.0 million and $5.3 million for the years ended June 30, 2022, 2021 and 2020, respectively.