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Revenue
 9 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company recognizes revenue in accordance with Topic 606, Revenue from Contracts. The Company applies the five-step model in the FASB's guidance, which requires the Company to: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when, or as, the Company satisfies a performance obligation.

The Company recognizes revenue when performance obligations under the terms of a customer purchase order or contract are satisfied. This occurs when control of the goods and services has transferred to the customer, which is generally determined when title, ownership, and risk of loss pass to the customer, all of which occurs upon shipment or delivery of the product. Consignment transactions are arrangements where the Company transfers product to a customer location but retains ownership and control of such product until it is used by the customer. Revenue for consignment arrangements is recognized upon usage by the customer. Service revenue is recognized as the services are performed.

The Company's standard customer purchase order or contract for goods transferred has a single performance obligation for which revenue is recognized at a point in time. The standard terms and conditions of a customer purchase order include general rights of return and product warranty provisions related to nonconforming product. Depending on the circumstances, the product is either replaced or a quality adjustment is issued. Such warranties do not represent a separate performance obligation.

The Company's standard customer purchase order or contract sets forth the transaction price for the products and services purchased under that arrangement. Some customer arrangements include variable consideration, such as volume rebates, which generally depend upon the Company's customers meeting specified performance criteria, such as a purchasing level over a period of time. The Company exercises judgment to estimate the most likely amount of variable consideration at each reporting date.

Revenue is measured as the amount of consideration the Company expects to receive in exchange for its product. The standard payment terms are 30 days. The Company has elected to use the practical expedient that permits the Company to not adjust for the effects of a significant financing component if it expects that at the contract inception, the period between when the Company transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less.

Amounts billed to customers for shipping and handling activities to fulfill the Company's promise to transfer the goods are included in revenues and costs incurred by the Company for the delivery of goods are classified as cost of sales in the consolidated statements of operations. Shipping terms may vary for products shipped outside the United States depending on the mode of transportation, the country where the material is shipped and any agreements made with the customers.

Contract liabilities are recognized when the Company has received consideration from a customer to transfer goods or services at a future point in time when the Company performs under the purchase order or contract. Contract liabilities were $13.7 million and $14.0 million at March 31, 2024 and June 30, 2023, respectively, and are included in accrued liabilities on the consolidated balance sheets. Revenue recognized for the three and nine months ended March 31, 2024 and 2023 from amounts included in contract liabilities at the beginning of the period was not significant and substantially all of the Company's contract liabilities are recognized within a twelve-month period.

The Company has elected to use the practical expedient that permits the omission of disclosure for remaining performance obligations which are expected to be satisfied in one year or less.
Disaggregation of Revenue

The Company operates in two business segments, Specialty Alloys Operations ("SAO") and Performance Engineered Products ("PEP"). Revenue is disaggregated within these two business segments by diversified end-use markets and by geographical locations. Comparative information of the Company's overall revenues by end-use markets and geographic locations for the three and nine months ended March 31, 2024 and 2023 were as follows:
End-Use MarketThree Months Ended March 31, 2024Three Months Ended March 31, 2023
($ in millions)SAOPEPIntersegmentTotalSAOPEPIntersegmentTotal
Aerospace and Defense$367.3 $30.5 $(6.7)$391.1 $321.6 $31.2 $(8.6)$344.2 
Medical77.7 35.0 (13.1)99.6 63.9 32.8 (10.5)86.2 
Transportation33.0 1.8 (0.4)34.4 51.2 1.8 (0.2)52.8 
Energy37.5 1.2 — 38.7 42.8 3.9 (0.1)46.6 
Industrial and Consumer93.0 10.4 (5.8)97.6 123.9 15.8 (9.0)130.7 
Distribution— 23.5 — 23.5 — 29.6 — 29.6 
Total net sales$608.5 $102.4 $(26.0)$684.9 $603.4 $115.1 $(28.4)$690.1 
Geographic LocationThree Months Ended March 31, 2024Three Months Ended March 31, 2023
($ in millions)SAOPEPIntersegmentTotalSAOPEPIntersegmentTotal
United States$335.4 $56.0 $(8.1)$383.3 $368.4 $61.5 $(10.3)$419.6 
Europe127.0 22.4 (7.8)141.6 112.8 23.5 (6.1)130.2 
Asia Pacific94.3 10.4 (10.0)94.7 78.3 12.5 (12.0)78.8 
Mexico20.9 8.5 (0.1)29.3 15.9 9.2 — 25.1 
Canada18.5 2.8 — 21.3 13.9 4.9 0.1 18.9 
Other12.4 2.3 — 14.7 14.1 3.5 (0.1)17.5 
Total net sales$608.5 $102.4 $(26.0)$684.9 $603.4 $115.1 $(28.4)$690.1 
End-Use MarketNine Months Ended March 31, 2024Nine Months Ended March 31, 2023
($ in millions)SAOPEPIntersegmentTotalSAOPEPIntersegmentTotal
Aerospace and Defense$1,001.5 $81.5 $(18.3)$1,064.7 $832.1 $75.0 $(21.2)$885.9 
Medical198.6 103.1 (34.5)267.2 154.2 90.3 (25.4)219.1 
Transportation108.0 6.0 (0.3)113.7 127.2 4.6 (0.7)131.1 
Energy129.0 6.4 — 135.4 101.4 7.9 0.1 109.4 
Industrial and Consumer290.9 29.7 (13.6)307.0 331.7 45.9 (22.3)355.3 
Distribution— 73.2 (0.1)73.1 — 91.4 (0.1)91.3 
Total net sales$1,728.0 $299.9 $(66.8)$1,961.1 $1,546.6 $315.1 $(69.6)$1,792.1 
Geographic LocationNine Months Ended March 31, 2024Nine Months Ended March 31, 2023
($ in millions)SAOPEPIntersegmentTotalSAOPEPIntersegmentTotal
United States$1,002.4 $168.2 $(19.9)$1,150.7 $942.7 $178.1 $(27.8)$1,093.0 
Europe313.8 57.8 (16.1)355.5 262.8 58.8 (13.4)308.2 
Asia Pacific279.3 32.3 (30.9)280.7 214.9 29.6 (28.3)216.2 
Mexico61.6 26.5 — 88.1 60.0 30.3 — 90.3 
Canada39.4 9.7 — 49.1 34.6 11.3 — 45.9 
Other31.5 5.4 0.1 37.0 31.6 7.0 (0.1)38.5 
Total net sales$1,728.0 $299.9 $(66.8)$1,961.1 $1,546.6 $315.1 $(69.6)$1,792.1