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Segment Information, Geographic and Product Data
 12 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment Information, Geographic and Product Data Segment Information, Geographic and Product Data
 
The Company has two reportable segments, Specialty Alloys Operations and Performance Engineered Products.
 
The SAO segment is comprised of the Company's major premium alloy and stainless steel manufacturing operations. This includes operations performed at mills primarily in Reading and Latrobe, Pennsylvania and surrounding areas as well as South Carolina and Alabama. The combined assets of the SAO operations are being managed in an integrated manner to optimize efficiency and profitability across the total system.
 
The PEP segment is comprised of the Company's differentiated operations. This segment includes the Dynamet titanium business, the Carpenter Additive business and the Latrobe and Mexico distribution businesses. The Amega West business was also part of the PEP segment however it was sold during the quarter ended September 30, 2020. The businesses in the PEP segment are managed with an entrepreneurial structure to promote flexibility and agility to quickly respond to market dynamics. 

 The Company's executive management evaluates the performance of these operating segments based on sales, operating income and cash flow generation. Segment operating profit excludes general corporate costs, which include executive and director compensation, and other corporate facilities and administrative expenses not allocated to the segments. Also excluded are items that management considers not representative of ongoing operations, such as loss on divestiture of business and other specifically identified income or expense items.

The service cost component of the Company's net pension expense, which represents the estimated cost of future pension liabilities earned associated with active employees, is included in the operating income of the business segments. The residual net pension expense, which is comprised of the expected return on plan assets, interest costs on the projected benefit obligations of the plans and amortization of actuarial gains and losses and prior service costs, is included within other expense (income), net.

On a consolidated basis, no single customer accounted for 10 percent or more of net sales for the fiscal years ended June 30, 2023, 2022 and 2021. No single customer accounted for 10 percent or more of the accounts receivable outstanding at June 30, 2023 and 2022.
Segment Data
Net SalesYears Ended June 30,
($ in millions)202320222021
Specialty Alloys Operations$2,213.6 $1,565.6 $1,262.2 
Performance Engineered Products433.7 344.5 259.8 
Intersegment(97.0)(73.8)(46.4)
Consolidated net sales$2,550.3 $1,836.3 $1,475.6 
Operating Income (Loss)Years Ended June 30,
($ in millions)202320222021
Specialty Alloys Operations$179.1 $9.6 $(87.4)
Performance Engineered Products31.8 18.1 (16.5)
Corporate costs (including restructuring and asset impairment charges)(75.5)(52.8)(144.3)
Intersegment(2.3)0.2 (0.4)
Consolidated operating income (loss)$133.1 $(24.9)$(248.6)
Depreciation and AmortizationYears Ended June 30,
($ in millions)202320222021
Specialty Alloys Operations$110.0 $110.1 $99.7 
Performance Engineered Products15.6 15.8 18.3 
Corporate5.3 5.5 5.6 
Intersegment0.1 — — 
Consolidated depreciation and amortization$131.0 $131.4 $123.6 
Capital ExpendituresYears Ended June 30,
($ in millions)202320222021
Specialty Alloys Operations$70.2 $77.5 $69.4 
Performance Engineered Products10.1 10.8 6.0 
Corporate2.0 2.9 25.2 
Intersegment— 0.1 (0.1)
Consolidated capital expenditures$82.3 $91.3 $100.5 
Total AssetsJune 30,
($ in millions)20232022
Specialty Alloys Operations$2,461.2 $2,262.4 
Performance Engineered Products451.6 418.9 
Corporate159.0 248.9 
Intersegment(17.9)2.1 
Consolidated total assets$3,053.9 $2,932.3 
Geographic Data
Net Sales (a)
Years Ended June 30,
($ in millions)202320222021
United States$1,556.2 $1,179.9 $926.6 
Europe437.3 253.5 242.7 
Asia Pacific319.5 233.9 194.4 
Mexico124.0 89.4 48.8 
Canada60.1 41.5 32.9 
Other53.2 38.1 30.2 
Consolidated net sales$2,550.3 $1,836.3 $1,475.6 
(a) Net sales are attributed to geographic region based on the location of the customer.
Long-lived assetsJune 30,
($ in millions)20232022
United States$1,368.1 $1,405.1 
Europe13.1 13.4 
Mexico1.6 1.4 
Asia Pacific0.5 0.6 
Canada0.5 0.3 
Consolidated long-lived assets$1,383.8 $1,420.8