Derivatives and Hedging Activities (Tables)

9 Months Ended

Mar. 31, 2013

Derivatives and Hedging Activities

Schedule of fair value of outstanding derivative contracts recorded in balance sheets

March 31, 2013 ($ in millions)	Interest Rate Swaps		Foreign Currency Contracts		Commodity Contracts		Total Derivatives
Asset Derivatives:
Derivatives designated as hedging instruments:
Other current assets	$	0.8	$	1.0	$	0.1	$	1.9
Other assets	0.2		-		-		0.2
Total asset derivatives	$	1.0	$	1.0	$	0.1	$	2.1
Liability Derivatives:
Derivatives designated as hedging instruments:
Accrued liabilities	$	-	$	0.9	$	16.7	$	17.6
Other liabilities	-		-		27.8		27.8
Total liability derivatives	$	-	$	0.9	$	44.5	$	45.4

June 30, 2012 ($ in millions)	Interest Rate Swaps		Foreign Currency Contracts		Commodity Contracts		Total Derivatives
Asset Derivatives:
Derivatives designated as hedging instruments:
Other current assets	$	0.2	$	1.2	$	-	$	1.4
Other assets	1.2		-		-		1.2
Total asset derivatives	$	1.4	$	1.2	$	-	$	2.6
Liability Derivatives:
Derivatives designated as hedging instruments:
Accrued liabilities	$	-	$	1.5	$	25.0	$	26.5
Other liabilities	-		0.4		29.6		30.0
Total liability derivatives	$	-	$	1.9	$	54.6	$	56.5

Summary of the gains (losses) related to cash flow hedges

	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)
	Three Months Ended				Nine Months Ended
($ in millions)	March 31,				March 31,
Derivatives in Cash Flow Hedging Relationship:	2013		2012		2013		2012
Commodity contracts	$	(4.0)	$	(14.5)	$	(10.6)	$	(63.0)
Foreign exchange contracts	0.6		(0.1)		1.2		0.5
Forward interest rate swaps	3.6		-		2.7		-
Total	$	0.2	$	(14.6)	$	(6.7)	$	(62.5	)

($ in millions)	Location of (Loss)	Amount of (Loss) Gain Reclassified from AOCI into Income (Effective Portion)
	Gain Reclassified from	Three Months Ended				Nine Months Ended
Derivatives in Cash Flow	AOCI into Income	March 31,				March 31,
Hedging Relationship:	(Effective Portion)	2013		2012		2013		2012
Commodity contracts	Cost of sales	$	(3.0)	$	(7.0)	$	(19.1)	$	(15.2	)
Foreign exchange contracts	Net sales	0.1		0.4		(0.1)		0.8
Forward interest rate swaps	Interest expense	-		-		0.1		-
Total		$	(2.9)	$	(6.6)	$	(19.1)	$	(14.4	)

Schedule of changes in other accumulated comprehensive income associated with derivative hedging activities

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
($ in millions)	2013		2012		2013		2012
Balance, beginning	$	(26.9)	$	(22.4)	$	(32.8)	$	2.6
Current period changes in fair value, net of tax	0.1		(9.0)		(4.2)		(38.8		)
Reclassification to earnings, net of tax	1.8		4.1		12.0		8.9
Balance, ending	$	(25.0)	$	(27.3)	$	(25.0)	$	(27.3	)