Carpenter Technology (CRS) 10-K 13 Aug 24 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Jun. 30, 2024	Aug. 09, 2024	Dec. 31, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2024
Current Fiscal Year End Date	--06-30
Document Transition Report	false
Entity File Number	1-5828
Entity Registrant Name	CARPENTER TECHNOLOGY CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-0458500
Entity Address, Address Line One	1735 Market Street
Entity Address, Address Line Two	15th Floor
Entity Address, City or Town	Philadelphia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19103
City Area Code	610
Local Phone Number	208-2000
Title of 12(b) Security	Common Stock, $5 Par Value
Trading Symbol	CRS
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 3,498,374,545
Entity Common Stock, Shares Outstanding		49,947,498
Documents Incorporated by Reference	Selected portions of the Company's fiscal year 2024 definitive Proxy Statement are incorporated by reference into Part III of this Report.
Entity Central Index Key	0000017843
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Jun. 30, 2024
Auditor Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Philadelphia, Pennsylvania
Auditor Firm ID	238

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 2,759.7	$ 2,550.3	$ 1,836.3
Cost of sales	2,175.4	2,213	1,686.5
Gross profit	584.3	337.3	149.8
Selling, general and administrative expenses	230.2	204.2	174.7
Goodwill impairment charge	14.1	0	0
Restructuring and asset impairment charges	16.9	0	0
Operating income (loss)	323.1	133.1	(24.9)
Interest expense, net	51	54.1	44.9
Debt extinguishment losses, net	0	0	6
Other expense (income), net	60.5	6.5	(12.7)
Income (loss) before income taxes	211.6	72.5	(63.1)
Income tax expense (benefit)	25.1	16.1	(14)
Net income (loss)	$ 186.5	$ 56.4	$ (49.1)
EARNINGS (LOSS) PER COMMON SHARE:
Basic (in dollars per share)	$ 3.75	$ 1.15	$ (1.01)
Diluted (in dollars per share)	$ 3.70	$ 1.14	$ (1.01)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	49.7	48.8	48.5
Diluted (in shares)	50.3	49.2	48.5

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 186.5	$ 56.4	$ (49.1)
Other comprehensive income (loss), net of tax:
Net gain (loss) on derivative instruments, net of tax of $(0.3), $3.9 and $0.5, respectively	1.1	(12.5)	(1.4)
Pension and postretirement benefits, net of tax of $(16.0), $(11.8) and $(8.4), respectively	51.2	37.4	26.2
Foreign currency translation	(3.2)	5.6	(6)
Other comprehensive income, net of tax	49.1	30.5	18.8
Comprehensive income (loss), net of tax	$ 235.6	$ 86.9	$ (30.3)

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) gain on derivative instruments, tax expense (benefit)	$ (0.3)	$ 3.9	$ 0.5
Pension and postretirement benefits, tax (expense) benefit	$ (16)	$ (11.8)	$ (8.4)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
OPERATING ACTIVITIES
Net income (loss)	$ 186.5	$ 56.4	$ (49.1)
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	134.6	131	131.4
Goodwill impairment charge	14.1	0	0
Acquisition-related contingent liability release	0	0	(4.7)
Noncash restructuring and asset impairment charges	15.8	0	0
Debt extinguishment losses, net	0	0	6
Deferred income taxes	(13.3)	(0.4)	(3.1)
Net pension expense (income)	76	19.9	(7.3)
Share-based compensation expense	19.8	16.4	10.8
Net loss on disposal of property, plant, and equipment and assets held for sale	4.6	2.5	2
Changes in working capital and other:
Accounts receivable	(32.6)	(144.5)	(79)
Inventories	(96.7)	(140.3)	(71.9)
Other current assets	(31.3)	13	8.3
Accounts payable	(11)	29.2	95.7
Accrued liabilities	23.6	38.2	(24.5)
Pension plan contributions	(11.3)	0	(0.7)
Other postretirement plan contributions	(2.6)	(3.3)	(1.7)
Other, net	(1.3)	(3.4)	(6.2)
Net cash provided from operating activities	274.9	14.7	6
INVESTING ACTIVITIES
Purchases of property, plant, equipment and software	(96.6)	(82.3)	(91.3)
Proceeds from disposals of property, plant and equipment and assets held for sale	0.7	0	2.2
Net cash used for investing activities	(95.9)	(82.3)	(89.1)
FINANCING ACTIVITIES
Credit agreement borrowings	62.5	183.7	0
Credit agreement repayments	(62.5)	(183.7)	0
Proceeds from issuance of long-term debt, net of offering costs	0	0	296.6
Payments on long-term debt	0	0	(300)
Payments for debt extinguishment costs, net	0	0	(6)
Payments for debt issue costs	0	(1.9)	(0.8)
Dividends paid	(40)	(39.4)	(39.2)
Proceeds from stock options exercised	40.9	5	0
Withholding tax payments on share-based compensation awards	(24.2)	(3.8)	(3.4)
Net cash used for financing activities	(23.3)	(40.1)	(52.8)
Effect of exchange rate changes on cash and cash equivalents	(1.1)	(2)	2.7
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	154.6	(109.7)	(133.2)
Cash and cash equivalents at beginning of year	44.5	154.2	287.4
Cash and cash equivalents at end of year	$ 199.1	$ 44.5	$ 154.2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 199.1	$ 44.5
Accounts receivable, net of allowance for doubtful accounts of $6.9 million and $7.4 million at June 30, 2024 and 2023, respectively	562.6	531.3
Inventories	735.4	639.7
Other current assets	94.1	66.4
Total current assets	1,591.2	1,281.9
Property, plant, equipment and software, net	1,335.2	1,383.8
Goodwill	227.3	241.4
Other intangibles, net	15.2	28.7
Deferred income taxes	7.5	6.6
Other assets	115.3	111.5
Total assets	3,291.7	3,053.9
Current liabilities:
Accounts payable	263.9	278.1
Accrued liabilities	202.4	181.3
Total current liabilities	466.3	459.4
Long-term debt	694.2	693
Accrued pension liabilities	207.6	190.1
Accrued postretirement benefits	21.1	45.8
Deferred income taxes	174.1	170.3
Other liabilities	99.6	99.2
Total liabilities	1,662.9	1,657.8
Contingencies and commitments (see Note $12)
STOCKHOLDERS' EQUITY
Common stock — authorized 100,000,000 shares; issued 56,978,663 shares at June 30, 2024, and 56,143,131 shares at June 30, 2023; outstanding 49,776,955 shares at June 30, 2024, and 48,635,740 shares at June 30, 2023	284.9	280.7
Capital in excess of par value	352.6	328.4
Reinvested earnings	1,374.5	1,228
Common stock in treasury (7,201,708 shares and 7,507,391 shares at June 30, 2024 and 2023, respectively), at cost	(289.3)	(298)
Accumulated other comprehensive loss	(93.9)	(143)
Total stockholders' equity	1,628.8	1,396.1
Total liabilities and stockholders' equity	$ 3,291.7	$ 3,053.9

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 6.9	$ 7.4
Common stock, authorized shares (in shares)	100,000,000	100,000,000
Common stock, issued shares (in shares)	56,978,663	56,143,131
Common stock, outstanding shares (in shares)	49,776,955	48,635,740
Common stock in treasury, shares (in shares)	7,201,708	7,507,391

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Reinvested Earnings	Common Stock in Treasury	Accumulated Other Comprehensive (Loss) Income
Balances, beginning of period at Jun. 30, 2021	$ 1,392.3	$ 280.1	$ 322.6	$ 1,299.3	$ (317.4)	$ (192.3)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(49.1)			(49.1)
Net gain (loss) on derivative instruments, net of tax	(1.4)					(1.4)
Pension and postretirement benefits, net of tax	26.2					26.2
Foreign currency translation	(6)					(6)
Cash dividends:
Common	(39.2)			(39.2)
Share-based compensation plans	7.7		(2.3)		10
Balances, end of period at Jun. 30, 2022	$ 1,330.5	$ 280.1	320.3	1,211	$ (307.4)	(173.5)
Balances, beginning of period (in shares) at Jun. 30, 2021	48,040,676	56,024,619
Balances, beginning of period (in shares) at Jun. 30, 2021					(7,983,943)
Common Shares
Stock options exercised (in shares)	891	891
Share-based compensation plans (in shares)	244,872				244,872
Balances, end of period (in shares) at Jun. 30, 2022	48,286,439	56,025,510
Balances, end of period (in shares) at Jun. 30, 2022					(7,739,071)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	$ 56.4			56.4
Net gain (loss) on derivative instruments, net of tax	(12.5)					(12.5)
Pension and postretirement benefits, net of tax	37.4					37.4
Foreign currency translation	5.6					5.6
Cash dividends:
Common	(39.4)			(39.4)
Share-based compensation plans	13.1		3.7		$ 9.4
Stock options exercised	5	$ 0.6	4.4
Balances, end of period at Jun. 30, 2023	$ 1,396.1	$ 280.7	328.4	1,228	$ (298)	(143)
Common Shares
Stock options exercised (in shares)	117,621	117,621
Share-based compensation plans (in shares)	231,680				231,680
Balances, end of period (in shares) at Jun. 30, 2023	48,635,740	56,143,131
Balances, end of period (in shares) at Jun. 30, 2023	(7,507,391)				(7,507,391)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	$ 186.5			186.5
Net gain (loss) on derivative instruments, net of tax	1.1					1.1
Pension and postretirement benefits, net of tax	51.2					51.2
Foreign currency translation	(3.2)					(3.2)
Cash dividends:
Common	(40)			(40)
Share-based compensation plans	9.6		0.9		$ 8.7
Stock options exercised	27.5	$ 4.2	23.3
Balances, end of period at Jun. 30, 2024	$ 1,628.8	$ 284.9	$ 352.6	$ 1,374.5	$ (289.3)	$ (93.9)
Common Shares
Stock options exercised (in shares)	835,532	835,532
Share-based compensation plans (in shares)	305,683				305,683
Balances, end of period (in shares) at Jun. 30, 2024	49,776,955	56,978,663
Balances, end of period (in shares) at Jun. 30, 2024	(7,201,708)				(7,201,708)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 5	$ 5	$ 5
Cash dividends per common share (in dollars per share)	$ 0.80	$ 0.80	$ 0.80

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Consolidation The consolidated financial statements include the accounts of the Company and all majority-owned subsidiaries. All significant intercompany accounts and transactions are eliminated. Revenue Recognition Revenue, net of related discounts, rebates, returns and allowances is recognized when performance obligations are satisfied under the terms of a customer order or contract. 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, based on the applicable shipping terms, or when the service is performed. 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. Freight and Handling Fees and Costs Freight and handling fees and costs billed separately to customers are included as part of net sales, and freight and handling costs expensed are included as part of cost of sales on the consolidated statements of operations. Research and Development Research and development expenditures, which amounted to $25.6 million, $24.4 million and $20.4 million in fiscal years 2024, 2023 and 2022, respectively, are expensed as incurred and are generally reported in cost of sales in the consolidated statements of operations. The research and development expenditures consist principally of salaries and benefits, building costs, utilities and administrative expenses. Substantially all development costs are related to developing new products or designing significant improvements to existing products or processes. Cash Equivalents Cash equivalents consist of highly liquid instruments with original maturities of three months or less. Cash equivalents are stated at cost, which approximates market. Accounts Receivable Trade receivables are carried at original invoice amount less an estimate made for doubtful receivables based on a review of outstanding amounts. Trade credit is extended based upon periodic evaluation of each customer's ability to perform its obligations. The Company determines accounts receivable allowances based on an aging of accounts and a review of specific accounts identified as collection risks. The Company generally does not require collateral to secure accounts receivable. Inventories Inventories are valued at the lower of cost or market for those inventories determined by the LIFO method. The Company values other inventory at the lower of cost or net realizable value, determined by the FIFO and average cost methods. As of June 30, 2024 and 2023, $152.2 million and $133.2 million of inventory, respectively, was accounted for using a method other than the LIFO method. Property, Plant and Equipment and Depreciation Fixed assets are stated at historical cost, with the exception of assets acquired through acquisitions, which are recorded at fair value, less accumulated depreciation. Depreciation for financial reporting purposes is computed by the straight-line method over the estimated useful lives of the assets. Upon disposal, assets and related depreciation are removed from the accounts and the differences between the net amounts and proceeds from disposal are generally included in cost of goods sold in the consolidated statements of operations. Computer Software and Amortization Computer software is included in property, plant, equipment and software, net on the consolidated balance sheets and is amortized for financial reporting purposes on a straight-line basis over the respective estimated useful lives ranging from 3 to 15 years. Goodwill Goodwill, net of accumulated impairment losses, representing the excess of the cost over the net tangible and identifiable intangible assets of acquired businesses, is stated at cost. Goodwill is not amortized but instead is tested at least annually for impairment as of June 1, or more frequently if events or circumstances indicate that the carrying amount of goodwill may be impaired. Potential impairment is identified by comparing the fair value of a reporting unit to its carrying value, including goodwill. The fair value is estimated using a weighting of discounted cash flows and the use of market multiples valuation techniques for the SAO reporting unit and the Dynamet reporting unit in the PEP segment. The discounted cash flow technique requires the use of cash flow forecasts. The cash flow forecasts include significant judgments and assumptions related to revenue growth rates, which include perpetual growth rates, gross margin and weighted average cost of capital. The market multiples valuation technique includes significant judgment in the determination of the market multiples. If the carrying value of the reporting unit exceeds its fair value, any impairment loss is measured by the difference between the carrying value of the reporting unit and its fair value, not to exceed the carrying amount of goodwill. Intangible assets The costs of intangible assets, consisting principally of trademarks, trade names, non-compete arrangements, technology, patents and customer relationships are amortized on a straight-line basis over the estimated useful lives ranging from 15 to 30 years. The gross carrying amount and related accumulated amortization are removed from the accounts upon full amortization or impairment. Impairment of Long-Lived Assets Long-lived assets subject to amortization, including property, plant, equipment, software and intangible assets, are reviewed for impairment and written down to fair value whenever events or changes in circumstances indicate that the carrying value may not be recoverable through future undiscounted cash flows. The amount of the impairment loss is the excess of the carrying amount of the impaired assets over the fair value of the assets based upon discounted future cash flows. Leases Determination of whether a contract is or contains a lease at contract inception is based on the presence of identified assets and the right to obtain substantially all of the economic benefit from or to direct the use of such assets. When it is determined a lease exists, a right-of-use ("ROU") asset and corresponding lease liability are recorded on the consolidated balance sheets. ROU assets represent the right to use an underlying asset for the lease term. Lease liabilities represent the obligation to make lease payments arising from the lease. On the lease commencement date, the Company measures and records a ROU asset and lease liability equal to the present value of the remaining lease payments, discounted using the rate implicit in the lease (or if that rate cannot be readily determined, an incremental borrowing rate). Lease terms include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Lease contracts with a term of 12 months or less are not recorded in the consolidated balance sheets. Fixed lease expense is recognized for operating leases on a straight-line basis over the lease term. Lease agreements with lease and non-lease components, are accounted for as a single lease component for all underlying asset classes. Accordingly, all costs associated with a lease contract are accounted for as lease costs. Some leasing arrangements require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance and tax payments. The variable lease payments are not presented as part of the ROU asset or lease liability. Environmental Expenditures Environmental expenditures that pertain to current operations or to future revenues are expensed or capitalized consistent with the Company's capitalization policy for property, plant and equipment. Expenditures that result from the remediation of an existing condition caused by past operations and that do not contribute to current or future revenues are expensed. Liabilities are recognized for remedial activities when the remediation is probable and the cost can be reasonably estimated. Most estimated liabilities are not discounted to present value due to the uncertainty as to the timing and duration of expected costs. For one former operating facility site, due to the routine nature of the expected costs, the liability for future costs is discounted to present value over 20 years assuming a discount rate of approximately 6 percent as of June 30, 2024 and approximately 5 percent as of June 30, 2023. The liabilities, net of present value discount, for this former operating site were $10.6 million and $10.1 million, as of June 30, 2024 and 2023, respectively. Derivative Financial Instruments All derivative financial instruments are recorded on the balance sheet at their fair value and changes in fair value are recorded each period in current earnings or other comprehensive income (loss). The Company enters into derivative financial instruments to hedge certain anticipated transactions, firm commitments or assets and liabilities denominated in foreign currencies. In addition, the Company, from time to time, utilizes interest rate swaps to convert fixed rate debt to floating rate debt. Foreign Currency Translation Assets and liabilities of international operations are translated into U.S. dollars at exchange rates in effect at year-end, and their income statements are translated at the average monthly exchange rates prevailing during the year. The resulting translation gains and losses are recorded each period as a component of accumulated other comprehensive income (loss) until the international entity is sold or liquidated. Gains and losses from transactions denominated in foreign currencies are reported in other expense (income), net in the consolidated statements of operations. Income Taxes Deferred income taxes are recognized by applying enacted statutory tax rates, applicable to future years, to temporary differences between the tax basis and financial statement carrying values of the Company's assets and liabilities. Valuation allowances are recorded to reduce deferred tax assets to amounts that are more likely than not to be realized. Significant judgments, estimates and assumptions are required in determining tax return reporting positions and in calculating provisions for income tax, which are based on interpretations of tax regulations and accounting pronouncements. Liabilities are established for uncertain tax positions when it is more likely than not that such positions, if challenged, would not be sustained upon review by taxing authorities. These liabilities are re-evaluated as tax regulations and facts and circumstances change, such as the closing of a tax audit or the expiration of the statute of limitations for a specific exposure. Earnings per Share The Company calculates basic and diluted earnings per share using the two class method. Under the two class method, earnings are allocated to common stock and participating securities (non-vested restricted shares and units that receive non-forfeitable dividends) according to their participation rights in dividends and undistributed earnings. The earnings available to each class of stock are divided by the weighted average number of outstanding shares for the period in each class. Diluted earnings per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding. Concentration of Credit Risk Financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash and cash equivalents, investments in marketable securities and trade receivables. Investment and cash management policies have been implemented that limit deposit concentrations and limit investments to investment grade securities. The risk with respect to trade receivables is mitigated by monitoring payment terms and periodic credit evaluations the Company performs on our customers, the short duration of our payment terms and by the diversification of our customer base. During fiscal years 2024, 2023 and 2022, no single customer accounted for 10 percent or more of total net sales. No single customer accounted for 10 percent or more of the accounts receivable outstanding at June 30, 2024 and 2023. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Restructuring and Asset Impairm

Restructuring and Asset Impairment Charges	12 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Asset Impairment Charges	Restructuring and Asset Impairment Charges During fiscal year 2024, the Company recorded restructuring and asset impairment charges of $16.9 million as a result of actions taken to streamline operations in the Carpenter Additive business in the PEP segment. This included $15.8 million of noncash pre-tax impairment charges related to $8.8 million of property, plant, equipment and software and $7.0 million associated with a certain definite lived intangible asset. The Company also recognized $1.1 million of various personnel costs for severance payments, medical coverage and related items. There were no restructuring and asset impairment charges for fiscal years 2023 and 2022. The reserve balances and activity for restructuring charges at June 30, 2024 and 2023 were as follows: June 30, ($ in millions) 2024 2023 Reserve balance beginning of year $ — $ — Restructuring charges excluding noncash impairments 1.1 — Cash payments — — Reserve balance end of year $ 1.1 $ —

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Jun. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Issued Accounting Pronouncements - Pending Adoption In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The guidance in this ASU enhances the transparency and decision functionality of income tax disclosures to provide investors information to better assess how an entity's operations and related tax risks, tax planning and operational opportunities affect its tax rate and prospects for future cash flow. The amendments in this ASU require public entities to disclose the following specific categories in the rate reconciliation by both percentages and reporting currency amounts: the effect of state and local income tax, net of federal (national) income tax, foreign tax effects, effects of changes in tax laws or rates enacted in the current period, effects of cross-border tax laws, tax credits, changes in valuation allowances, nontaxable or nondeductible items and changes in unrecognized tax benefits. The amendments in ASU 2023-09 also require public entities to provide additional information for reconciling items that meet the qualitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pre-tax income (loss) by the applicable statutory income tax rate). The ASU requires reporting entities to annually disclose the year-to-date amount of income taxes paid (net of refunds received) disaggregated by federal, state and foreign localities. The amendments in this ASU should be applied on a prospective basis and retrospective application is permitted. For public business entities, ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements not yet issued. ASU 2023-09 is a requirement for additional disclosure and is not expected to materially impact the consolidated financial statements. In November 2023, the FASB issued ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The guidance in ASU 2023-07 seeks to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this ASU require a public entity to disclose the following: significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss; an amount for other segment items by reportable segment and a description of its composition; and the title and position of the CODM and how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. This ASU requires public entities to provide all annual disclosures about a reportable segment's profit or loss and assets currently required by Topic 280 in interim periods. ASU 2023-07 clarifies that if the CODM uses more than one measure of a segment's profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is a requirement for additional disclosure and is not expected to materially impact the consolidated financial statements. Recently Issued Accounting Pronouncements - Adopted In November 2021, the FASB issued ASU 2021-10 Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. The amendments in ASU 2021-10 require the following annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy: information about the nature of the transactions and the related accounting policy used to account for the transactions; the line items on the balance sheet and income statement that are affected by the transactions, and the amounts applicable to each financial statement line item; significant terms and conditions of the transactions, including commitments and contingencies. ASU 2021-10 is effective for public business entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2021, with early adoption permitted. The Company adopted the provisions of ASU 2021-10 in the fourth quarter of fiscal year 2022. ASU 2021-10 is a requirement for additional disclosure and it did not materially impact the consolidated financial statements. In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (Topic 848). The guidance in ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform, if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments became effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. In December 2022, the FASB issued ASU 2022-06 for Topic 848 which extended the application of optional expedients and exceptions from ASU 2020-04 to June 30, 2023. The Company's Prior Credit Agreement, in place as of March 31, 2023, referenced LIBOR in certain borrowing situations. The Credit Facility was entered into on April 14, 2023 and replaced LIBOR with the Secured Oversight Financing Rate ("SOFR"). Through March 31, 2023, the Company had not experienced any unintended outcomes or consequences of reference rate reform that would have required the adoption of this guidance. The adoption of ASU 2022-06 did not materially impact the consolidated financial statements.

Revenue

Revenue	12 Months Ended
	Jun. 30, 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 or the service is performed. 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 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. Each 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 normal payment terms are 30 days. The Company has elected to use the practical expedient that permits a 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 $12.3 million and $14.0 million at June 30, 2024 and 2023, respectively, and are included in accrued liabilities on the consolidated balance sheets. Revenue recognized for the fiscal years ended June 30, 2024, 2023 and 2022 from amounts included in contract liabilities at the beginning of the period was not significant and substantially all of our contract liabilities are recognized within a twelve-month period. The Company elected the practical expedient that permits the omission of disclosure for remaining performance obligations which are expected to be satisfied in one year or less. Disaggregation of Revenue The Company operates in two business segments, Specialty Alloys Operations and Performance Engineered Products. Revenue is disaggregated within these two business segments by diversified end-use markets and by geographical locations. Comparative information of the Company's overall revenues by end-use markets and geographic locations for fiscal years ended June 30, 2024, 2023 and 2022 were as follows: End-Use Market Year Ended June 30, 2024 ($ in millions) SAO PEP Intersegment Total Aerospace and Defense $ 1,449.9 $ 111.1 $ (22.2) $ 1,538.8 Medical 282.4 144.9 (51.7) 375.6 Transportation 141.3 8.2 (0.4) 149.1 Energy 177.2 8.6 — 185.8 Industrial and Consumer 393.0 40.3 (18.0) 415.3 Distribution — 97.9 (2.8) 95.1 Total net sales $ 2,443.8 $ 411.0 $ (95.1) $ 2,759.7 End-Use Market Year Ended June 30, 2023 ($ in millions) SAO PEP Intersegment Total Aerospace and Defense $ 1,214.6 $ 108.0 $ (31.9) $ 1,290.7 Medical 213.8 123.4 (35.6) 301.6 Transportation 178.5 7.5 (1.0) 185.0 Energy 151.6 11.6 0.1 163.3 Industrial and Consumer 455.1 60.6 (28.5) 487.2 Distribution — 122.6 (0.1) 122.5 Total net sales $ 2,213.6 $ 433.7 $ (97.0) $ 2,550.3 End-Use Market Year Ended June 30, 2022 ($ in millions) SAO PEP Intersegment Total Aerospace and Defense $ 739.3 $ 76.7 $ (25.8) $ 790.2 Medical 155.1 79.9 (22.7) 212.3 Transportation 173.4 5.2 (0.3) 178.3 Energy 104.8 8.1 0.1 113.0 Industrial and Consumer 393.0 49.1 (24.9) 417.2 Distribution — 125.5 (0.2) 125.3 Total net sales $ 1,565.6 $ 344.5 $ (73.8) $ 1,836.3 Geographic Location Year Ended June 30, 2024 ($ in millions) SAO PEP Intersegment Total United States $ 1,418.5 $ 234.4 $ (29.9) $ 1,623.0 Europe 449.2 75.5 (20.9) 503.8 Asia Pacific 389.4 46.2 (44.3) 391.3 Mexico 86.0 34.1 — 120.1 Canada 56.9 13.2 — 70.1 Other 43.8 7.6 — 51.4 Total net sales $ 2,443.8 $ 411.0 $ (95.1) $ 2,759.7 Geographic Location Year Ended June 30, 2023 ($ in millions) SAO PEP Intersegment Total United States $ 1,350.7 $ 242.3 $ (36.8) $ 1,556.2 Europe 373.6 81.4 (17.7) 437.3 Asia Pacific 317.4 44.5 (42.4) 319.5 Mexico 83.7 40.3 — 124.0 Canada 44.1 16.0 — 60.1 Other 44.1 9.2 (0.1) 53.2 Total net sales $ 2,213.6 $ 433.7 $ (97.0) $ 2,550.3 Geographic Location Year Ended June 30, 2022 ($ in millions) SAO PEP Intersegment Total United States $ 1,018.6 $ 191.1 $ (29.8) $ 1,179.9 Europe 208.5 58.0 (13.0) 253.5 Asia Pacific 231.8 33.1 (31.0) 233.9 Mexico 44.2 45.2 — 89.4 Canada 29.6 11.9 — 41.5 Other 32.9 5.2 — 38.1 Total net sales $ 1,565.6 $ 344.5 $ (73.8) $ 1,836.3

Earnings (Loss) per Common Shar

Earnings (Loss) per Common Share	12 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings (Loss) per Common Share	Earnings (Loss) per Common Share The Company calculates basic and diluted earnings (loss) per share using the two class method. Under the two class method, earnings (loss) are allocated to common stock and participating securities (non-vested restricted shares and units that receive non-forfeitable dividends) according to their participation rights in dividends and undistributed earnings. The earnings (loss) available to each class of stock are divided by the weighted average number of outstanding shares for the period in each class. Diluted earnings (loss) per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding. For the year ended June 30, 2022, the Company incurred a net loss and accordingly excluded all potentially dilutive securities from the determination of diluted loss per share as their impact was anti-dilutive. The calculations of basic and diluted earnings (loss) per common share for the years ended June 30, 2024, 2023 and 2022 were as follows: Years Ended June 30, (in millions, except per share data) 2024 2023 2022 Net income (loss) $ 186.5 $ 56.4 $ (49.1) Dividends allocated to participating securities (0.3) (0.4) (0.1) Earnings (loss) available for common stockholders used in calculation of basic earnings (loss) per common share $ 186.2 $ 56.0 $ (49.2) Weighted average number of common shares outstanding, basic 49.7 48.8 48.5 Basic earnings (loss) per common share $ 3.75 $ 1.15 $ (1.01) Net income (loss) $ 186.5 $ 56.4 $ (49.1) Dividends allocated to participating securities (0.3) (0.4) (0.1) Earnings (loss) available for common stockholders used in calculation of diluted earnings (loss) per common share $ 186.2 $ 56.0 $ (49.2) Weighted average number of common shares outstanding, basic 49.7 48.8 48.5 Effect of shares issuable under share-based compensation plans 0.6 0.4 — Weighted average number of common shares outstanding, diluted 50.3 49.2 48.5 Diluted earnings (loss) per common share $ 3.70 $ 1.14 $ (1.01) The following awards issued under share-based compensation plans were excluded from the calculations of diluted earnings per share above because their effects were anti-dilutive: Years Ended June 30, (in millions) 2024 2023 2022 Stock options — 0.7 1.9

Inventories

Inventories	12 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following components at June 30, 2024 and 2023: June 30, ($ in millions) 2024 2023 Raw materials and supplies $ 164.0 $ 157.7 Work in process 430.5 370.1 Finished and purchased products 140.9 111.9 Total inventories $ 735.4 $ 639.7

Property, Plant, Equipment and

Property, Plant, Equipment and Software, net	12 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant, Equipment and Software, net	Property, Plant, Equipment and Software, net Property, plant, equipment and software, net consisted of the following components at June 30, 2024 and 2023: June 30, ($ in millions) 2024 2023 Land $ 40.6 $ 40.0 Buildings and building equipment 562.7 555.5 Machinery and equipment 2,454.4 2,391.1 Capitalized software 225.3 220.5 Construction in progress 68.2 92.7 Total at cost 3,351.2 3,299.8 Less: accumulated depreciation and amortization 2,016.0 1,916.0 Total property, plant, equipment and software, net $ 1,335.2 $ 1,383.8 The estimated useful lives of depreciable assets are as follows: Asset Category Useful Life Buildings and building equipment 10 – 45 Machinery and equipment 3 – 30 Capitalized software 3 – 15

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	12 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net Goodwill Goodwill is not amortized but instead is tested at least annually for impairment as of June 1, or more frequently if events or circumstances indicate that the carrying amount of goodwill may be impaired. Potential impairment is identified by comparing the fair value of a reporting unit to its carrying value. If the carrying value of the reporting unit exceeds its fair value, any impairment loss is measured by the difference between the carrying value of the reporting unit and its fair value, not to exceed the carrying amount of goodwill. The discounted cash flow analysis for each reporting unit tested requires significant estimates and assumptions related to cash flow forecasts, discount rates, terminal values and income tax rates. The cash flow forecasts include significant judgments and assumptions related to revenue growth rates, which include perpetual growth rates, gross margin and weighted average cost of capital. The cash flow forecasts are developed based on assumptions about each reporting unit's markets, product offerings, pricing, capital expenditure and working capital requirements as well as cost performance. As of June 30, 2024, the Company has two reporting units with goodwill recorded. Goodwill associated with the SAO reporting unit as of June 30, 2024, was $195.5 million and represents 86 percent of total goodwill. The remaining goodwill of $31.8 million is associated with the Dynamet reporting unit in the PEP segment. The fair value is estimated using a weighting of discounted cash flows and the use of market multiples valuation techniques for the SAO reporting unit and the Dynamet reporting unit. In preparing the financial statements for the quarter ended March 31, 2024, the Company identified an impairment triggering event in the Latrobe Distribution reporting unit within the PEP segment related to a decline in customer ordering patterns. This combined with market headwinds due to general industrial macroeconomic conditions including rising interest rates has contributed to lower sales and profit margins compared to the established annual operation plan for fiscal year 2024. Despite efforts of the Company to mitigate the market challenges, results did not improve for the Latrobe Distribution reporting unit during the quarter ended March 31, 2024. In light of these market conditions at the time, the pace of growth in the future projections for the Latrobe Distribution reporting unit were lowered. The Company determined the goodwill associated with the Latrobe Distribution reporting unit was impaired and recorded an impairment charge of $14.1 million during the quarter ended March 31, 2024, which represented the entire balance of goodwill. The fair value was estimated using a weighting of discounted cash flows and the use of market multiples valuation techniques. Goodwill associated with the SAO reporting unit is tested at the SAO segment level. As of June 1, 2024, the fair value of the SAO reporting unit exceeded the carrying value by 203 percent. The discounted cash flows analysis for the SAO reporting unit includes assumptions related to our ability to increase volume, improve mix, expand product offerings and continue to implement opportunities to reduce costs over the next several years. For purposes of the discounted cash flow analysis for SAO's fair value, a weighted average cost capital of 9.5 percent and a terminal growth rate assumption of 2.5 percent were used. If the long-term growth rate for this reporting unit had been hypothetically reduced by 0.5 percent at June 1, 2024, the SAO reporting unit would have a fair value that exceeded the carrying value by approximately 196 percent. Goodwill associated with the PEP segment is tested at the Dynamet reporting unit level. As of June 1, 2024, the fair value of the Dynamet reporting unit exceeded the carrying value by 144 percent. For purposes of the discounted cash flow analysis for Dynamet's fair value, a weighted average cost capital of 11.0 percent and a terminal growth rate assumption of 2.5 percent were used. If the long-term growth rate for this reporting unit had been hypothetically reduced by 0.5 percent at June 1, 2024, the Dynamet reporting unit would have a fair value that exceeded the carrying value by approximately 140 percent. The Company continuously monitors for events and circumstances that could negatively impact the key assumptions in determining fair value of the reporting units. Accumulated goodwill impairment losses of $148.7 million are related solely to the PEP segment. The changes in the carrying amount of goodwill by reportable segment for fiscal years 2024 and 2023 were as follows: June 30, ($ in millions) 2022 2023 Impairment 2024 Goodwill $ 376.0 $ 376.0 $ — $ 376.0 Accumulated impairment losses (134.6) (134.6) (14.1) (148.7) Total goodwill $ 241.4 $ 241.4 $ (14.1) $ 227.3 Specialty Alloys Operations $ 195.5 $ 195.5 $ — $ 195.5 Performance Engineered Products 45.9 45.9 (14.1) 31.8 Total goodwill $ 241.4 $ 241.4 $ (14.1) $ 227.3 Other Intangible Assets, Net Other intangible assets, net consisted of the following as of June 30, 2024 and 2023: June 30, 2024 June 30, 2023 ($ in millions) Useful Life Gross Accumulated Net Gross Accumulated Net Trademarks and trade names 30 $ 29.9 $ (27.3) $ 2.6 $ 29.9 $ (26.3) $ 3.6 Customer relationships 15 70.8 (58.2) 12.6 70.8 (53.5) 17.3 Technology 11 — — — 3.6 (3.5) 0.1 Patents 15 — — — 11.4 (3.7) 7.7 Total other intangibles $ 100.7 $ (85.5) $ 15.2 $ 115.7 $ (87.0) $ 28.7 The Company recorded $6.5 million of amortization expense related to intangible assets during fiscal year 2024, $6.8 million during fiscal year 2023 and $6.9 million during fiscal year 2022. The estimated annual amortization expense related to intangible assets for each of the succeeding four fiscal years is $5.7 million in fiscal years 2025 and 2026, $3.8 million in fiscal year 2027 and $0.0 million in fiscal year 2028.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Jun. 30, 2024
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following as of June 30, 2024 and 2023: June 30, ($ in millions) 2024 2023 Accrued compensation and benefits $ 121.6 $ 92.4 Accrued interest expense 18.5 18.5 Accrued postretirement benefits 15.4 16.1 Contract liabilities 12.3 14.0 Current portion of lease liabilities 8.8 9.1 Accrued taxes 4.2 4.9 Derivative financial instruments 3.6 6.4 Accrued pension liabilities 3.3 3.3 Accrued income taxes 1.0 2.5 Other 13.7 14.1 Total accrued liabilities $ 202.4 $ 181.3

Debt

Debt	12 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt On April 14, 2023, the Company entered into a Second Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer and the other lenders, agents and arrangers party thereto (the "Credit Facility"). The Credit Facility amended and restated the Company's then existing Amended and Restated Credit Agreement dated as of March 26, 2021 which had been set to expire on March 31, 2024. The Second Amendment extends the maturity to April 12, 2028. The Credit Facility is a secured revolving credit facility with a commitment of $350.0 million subject to the right, from time to time, to request an increase of the commitment by the greater of (i) $300.0 million or (ii) an amount equal to the consolidated EBITDA; and provides for the issuance of letters of credit subject to a $40.0 million sub-limit. The Company has the right to voluntarily prepay and re-borrow loans, to terminate or reduce the commitments under the Credit Facility, and, subject to certain lender approvals, to join subsidiaries as subsidiary borrowers. As of June 30, 2024, the Company had $1.2 million of issued letters of credit under the Credit Facility and no short-term borrowings, with the balance of $348.8 million available to the Company. Interest on the borrowings under the Credit Facility accrue at variable rates which are determined based upon the Company's consolidated total leverage ratio. The applicable margin to be added to Alternative Currency Daily Rate, Alternative Currency Term Rate and Term SOFR determined loans ranges from 1.75% to 2.50% (1.75% as of June 30, 2024), and for Base Rate-determined loans, from 0.75% to 1.50% (0.75% as of June 30, 2024). The Company also pays a quarterly commitment fee ranging from 0.250% to 0.375% (0.250% as of June 30, 2024), determined based upon the consolidated total leverage ratio, of the unused portion of the commitment under the Credit Facility. In addition, the Company must pay certain letter of credit fees, ranging from 1.75% to 2.50% (1.75% as of June 30, 2024), with respect to letters of credit issued under the Credit Facility. As of June 30, 2024, the borrowing rate for the Credit Facility was 7.09%, however the Company had no short-term borrowings. The Company is subject to certain financial and restrictive covenants under the Credit Facility which requires the maintenance of a minimum interest coverage ratio of 3.00 to 1.00 and a consolidated net leverage ratio of no more than 4.00 to 1.00. The restrictions of these covenants (other than the financial ratio covenants) are subject to certain exceptions or thresholds triggering amounts or events specified in the Credit Facility, and in some cases the restrictions may be waived by the lenders. As of June 30, 2024, the Company was in compliance with all of the covenants of the Credit Facility. Long-term debt outstanding at June 30, 2024 and 2023 consisted of the following: June 30, ($ in millions) 2024 2023 Senior unsecured notes, 6.375% due July 2028 (face value of $400.0 million at June 30, 2024 and 2023) $ 397.2 $ 396.5 Senior unsecured notes, 7.625% due March 2030 (face value of $300.0 million at June 30, 2024 and 2023) 297.0 296.5 Total debt 694.2 693.0 Less: amounts due within one year — — Long-term debt, net of current portion $ 694.2 $ 693.0 Aggregate maturities of long-term debt for the five fiscal years subsequent to June 30, 2024, are $0.0 million for fiscal years 2025 through 2028 and $400.0 million in fiscal year 2029. For the years ended June 30, 2024, 2023 and 2022, interest costs totaled $52.6 million, $55.6 million and $45.7 million, respectively, of which $1.6 million, $1.5 million and $0.8 million

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	12 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits The Company provides several noncontributory defined benefit pension plans to certain employees. The plans provide defined benefits based on years of service and final average salary. The Company also provides other postretirement benefit plans to certain of its employees. The postretirement benefit plans consist of health care and life insurance plans. Plan assets are maintained in a Voluntary Employee Benefit Association ("VEBA") Trust. During fiscal years 2024 and 2023, the Company funded benefit payments using assets in the VEBA Trust. The following provides a reconciliation of benefit obligations, plan assets and funded status of the plans: Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2024 2023 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 848.2 $ 959.4 $ 182.3 $ 206.2 Service cost 8.2 8.1 1.5 1.8 Interest cost 43.7 46.2 10.2 10.0 Benefits paid (68.8) (77.5) (12.3) (13.5) Actuarial gain (2.3) (65.3) (8.9) (22.2) Plan settlements (147.2) (23.3) — — Other 0.9 0.6 — — Projected benefit obligation at end of year 682.7 848.2 172.8 182.3 Change in plan assets: Fair value of plan assets at beginning of year 654.8 759.4 120.4 114.7 Actual return 18.5 (7.4) 25.6 15.9 Benefits paid (68.8) (77.5) (12.3) (13.5) Contributions 14.5 3.6 2.6 3.3 Plan settlements (147.2) (23.3) — — Fair value of plan assets at end of year 471.8 654.8 136.3 120.4 Funded status of the plans $ (210.9) $ (193.4) $ (36.5) $ (61.9) Amounts recognized in the consolidated balance sheets: Accrued liabilities - current (3.3) (3.3) (15.4) (16.1) Accrued pension liabilities - noncurrent (207.6) (190.1) — — Accrued postretirement benefits - noncurrent — — (21.1) (45.8) Funded status of the plans $ (210.9) $ (193.4) $ (36.5) $ (61.9) Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2024 2023 Amounts recognized in accumulated other comprehensive loss: Net actuarial loss (gain) $ 215.4 $ 260.3 $ (64.3) $ (39.7) Prior service cost (benefit) 4.2 5.8 1.5 (2.4) Total $ 219.6 $ 266.1 $ (62.8) $ (42.1) Other changes in plan assets and benefit obligations recognized in other comprehensive income consist of: Net actuarial loss (gain) $ 15.5 $ (12.5) $ (27.2) $ (31.2) Amortization of net (loss) gain (8.0) (9.5) 2.5 1.8 Amortization of prior service (cost) benefit (2.1) (2.1) 3.9 3.9 Settlement charge (51.9) — — — Total, before tax effect $ (46.5) $ (24.1) $ (20.8) $ (25.5) Additional information: Accumulated benefit obligation for all pension plans $ 678.5 $ 843.8 N/A N/A For the year ended June 30, 2024, actuarial gains in pension plans were impacted by a change in discount rate of $5.4 million partially offset by a change in plan experience of $3.1 million. Actuarial gains in other postretirement plans were impacted by a change in discount rate of $2.1 million and a change in plan experience of $4.9 million. For the year ended June 30, 2023, actuarial gains in pension plans were significantly impacted by a change in discount rate of $70.9 million partially offset by a change in plan experience of $9.2 million. Actuarial gains in other postretirement plans were significantly impacted by a change in discount rate of $13.8 million. The following is additional information related to plans with projected benefit obligations in excess of plan assets as of June 30, 2024 and 2023: Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2024 2023 Projected benefit obligation $ 682.7 $ 848.2 $ 172.8 $ 182.3 Fair value of plan assets $ 471.8 $ 654.8 $ 136.3 $ 120.4 The following additional information is for plans with accumulated benefit obligations in excess of plan assets as of June 30, 2024 and 2023: Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2024 2023 Accumulated benefit obligation $ 678.5 $ 843.8 $ 172.8 $ 182.3 Fair value of plan assets $ 471.8 $ 654.8 $ 136.3 $ 120.4 The components of the net periodic pension expense (income) related to the Company's pension and other postretirement benefits for the years ended June 30, 2024, 2023 and 2022 are as follows: Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2022 2024 2023 2022 Service cost $ 8.2 $ 8.1 $ 8.6 $ 1.5 $ 1.8 $ 2.4 Interest cost 43.7 46.2 36.6 10.2 10.0 7.4 Expected return on plan assets (35.9) (45.3) (59.9) (7.3) (6.8) (8.2) Amortization of net loss (gain) 8.0 9.5 8.4 (2.5) (1.8) (0.8) Amortization of prior service cost (benefit) 2.1 2.1 2.1 (3.9) (3.9) (3.9) Settlement charge 51.9 — — — — — Net pension expense (income) $ 78.0 $ 20.6 $ (4.2) $ (2.0) $ (0.7) $ (3.1) The service cost component of the Company's net pension expense (income), which represents the estimated cost of future pension liabilities earned associated with active employees, is included in the operating income (loss) of the business segments. The residual net pension expense (income), 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 and benefits, is presented within other expense (income), net. See Note 18 to our consolidated financial statements included in Item 8. "Financial Statements and Supplementary Data." During the fiscal year ended June 30, 2024, the Company executed a buy-out annuity transaction for the Company's largest defined benefit plan. The Company determined that the annuity settlement and lump-sum payments exceeded the threshold of service cost and interest cost components and therefore settlement accounting was required. As a result, the Company recorded a settlement charge of $51.9 million in the year ended June 30, 2024 within other expense (income), net. Weighted-average assumptions used to determine benefit obligations at fiscal year end Pension Plans Other Postretirement Plans 2024 2023 2024 2023 Discount rate 5.98 % 5.85 % 6.03 % 5.87 % Rate of compensation increase 3.33 % 3.28 % N/A N/A Weighted-average assumptions used to determine net periodic benefit cost for the fiscal year Pension Plans Other Postretirement Plans 2024 2023 2022 2024 2023 2022 Discount rate 5.89 % 5.01 % 3.06 % 5.87 % 5.02 % 3.04 % Expected long-term rate of return on plan assets 6.50 % 6.25 % 6.22 % 6.50 % 6.25 % 6.25 % Long-term rate of compensation increase 3.28 % 3.28 % 3.29 % N/A N/A N/A The following table shows the expected health care rate increase and the future rate and time at which it is expected to remain constant: June 30, 2024 2023 Assumed health care cost trend rate 6.50 % 6.25 % Rate to which the cost trend rate is assumed to decline and remain (the ultimate trend rate) 5.00 % 5.00 % Year that the rate reaches the ultimate trend rate 2031 2028 Amounts in other accumulated comprehensive loss (gain) that are expected to be recognized as components of net periodic benefit cost in the fiscal year ended June 30, 2025, are: ($ in millions) Pension Plans Other Postretirement Plans Total Amortization of prior service cost (benefit) $ 2.1 $ 1.2 $ 3.3 Amortization of net actuarial loss (gain) 7.3 (5.6) 1.7 Amortization of accumulated other comprehensive loss (gain) $ 9.4 $ (4.4) $ 5.0 The Company's U.S. pension plans' weighted-average asset allocations at June 30, 2024 and 2023, by asset category are as follows: 2024 2023 Equity securities 42.4 % 43.8 % Fixed income securities 31.6 36.5 Real assets securities 26.0 19.7 Total 100.0 % 100.0 % The Company's policy for developing a pension plan investment strategy includes the periodic development of an asset and liability study by an independent investment consultant. Management considers this study in establishing an asset allocation that is presented to and approved by the Company's Retirement Committee. Based on the current funding level, the benchmark allocation policy for the Company's largest pension plan assets is to have approximately 75 percent in return seeking assets and 25 percent in liability-hedging assets. Return seeking assets include global equities, diversified credit and real assets. Liability-hedging assets include bond funds and cash. When the funding level of the plan reaches 95 percent and improves to fully or over-funded status in increments of 5 percent, assets will be shifted from return seeking to liability-hedging assets in accordance with the glidepath policy outlined in the pension plan's Investment Policy Statement. The assets related to the Company's other postretirement benefit plans were invested in approximately 95 percent U.S. equities and 5 percent short-term investments as of June 30, 2024. Management establishes the expected long-term rate of return assumption by reviewing historical trends and analyzing the current and projected market conditions in relation to the plan's asset allocation and risk management objectives. In determining the expected long-term rate of return, the Company considered historical returns for individual asset classes and the impact of active portfolio management. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Investments in domestic and international equities are generally valued at the closing price reported on the active market on which they are traded. Commingled funds, limited partnerships and mutual funds are valued based on the net asset value ("NAV") established for the fund at each valuation date. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of units/shares outstanding. Corporate and government agency bonds and other fixed income securities are valued using closing bid prices on an active market when possible, otherwise using evaluated bid prices. The fair values of the Company's pension plan assets as of June 30, 2024 and 2023, by asset category and by the levels of inputs used to determine fair value were as follows: June 30, 2024 Fair Value ($ in millions) Level 1 Level 2 Net Asset Value Total Short-term investments $ 7.2 $ — $ — $ 7.2 Commingled trust funds — — 464.1 464.1 Mortgage/asset backed securities and other — 0.5 — 0.5 Fair value of plan assets at end of year $ 7.2 $ 0.5 $ 464.1 $ 471.8 June 30, 2023 Fair Value ($ in millions) Level 1 Level 2 Net Asset Value Total Short-term investments $ 6.7 $ — $ — $ 6.7 Commingled trust funds — — 646.8 646.8 Mortgage/asset backed securities and other — 1.3 — 1.3 Fair value of plan assets at end of year $ 6.7 $ 1.3 $ 646.8 $ 654.8 The fair values of the Company's other postretirement benefit plans as of June 30, 2024 and 2023, by asset category and by the level of inputs used to determine fair value, were as follows: June 30, 2024 Fair Value ($ in millions) Level 1 Level 2 Net Asset Value Total Commingled trust fund $ — $ — $ 129.7 $ 129.7 Short-term investments 6.6 — — 6.6 Fair value of plan assets at end of year $ 6.6 $ — $ 129.7 $ 136.3 June 30, 2023 Fair Value ($ in millions) Level 1 Level 2 Net Asset Value Total Commingled trust fund $ — $ — $ 110.1 $ 110.1 Short-term investments 10.3 — — 10.3 Fair value of plan assets at end of year $ 10.3 $ — $ 110.1 $ 120.4 Cash Flows — Employer Contributions The Company made contributions to the qualified defined benefit pension plans of $11.3 million, $0.0 million and $0.7 million during fiscal years 2024, 2023 and 2022, respectively. The Company currently expects to make $26.3 million of required cash pension contributions to the domestic qualified defined benefit pension plans during fiscal year 2025. During the fiscal years ended June 30, 2024, 2023 and 2022, the Company made contributions of $3.2 million, $3.6 million and $3.1 million, respectively, to other non-qualified pension plans. Estimated Future Benefit Payments Pension benefits are currently paid from plan assets and other benefits are currently paid from both corporate assets and the VEBA trust. The benefit payments below, which reflect expected future service, as appropriate, are expected to be paid by fiscal year as follows: ($ in millions) Pension Other 2025 $ 63.4 $ 15.4 2026 $ 61.3 $ 15.4 2027 $ 60.3 $ 15.2 2028 $ 58.7 $ 15.0 2029 $ 57.3 $ 14.8 2030-2034 $ 264.9 $ 69.6 Other Benefit Plans The Company also maintains defined contribution retirement and savings plans for substantially all domestic employees. Company contributions to the plans were $26.5 million in fiscal year 2024, $23.3 million in fiscal year 2023 and $21.0 million in fiscal year 2022.

Contingencies and Commitments

Contingencies and Commitments	12 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Contingencies and Commitments Environmental The Company is subject to various federal, state, local and international environmental laws and regulations relating to pollution, protection of public health and the environment, natural resource damages and occupational safety and health. Although compliance with these laws and regulations may affect the costs of the Company's operations, compliance costs to date have not been material. The Company has environmental remediation liabilities at some of its owned operating facilities and has been designated as a PRP with respect to certain third party Superfund waste-disposal sites and other third party-owned sites. The Company accrues amounts for environmental remediation costs that represent management's best estimate of the probable and reasonably estimable future costs related to environmental remediation. During fiscal year 2024 the Company increased the liability for environmental remediation costs by $0.8 million. During fiscal year 2023, the Company decreased the liability for environmental remediation costs by $1.8 million. The liabilities recorded for environmental remediation costs at Superfund sites, other third party-owned sites and Carpenter-owned current or former operating facilities remaining at June 30, 2024 and 2023 were $17.3 million and $16.5 million, respectively. Additionally, the Company has been notified that it may be a PRP with respect to other Superfund sites as to which no proceedings have been instituted against the Company. Neither the exact amount of remediation costs nor the final method of their allocation among all designated PRPs at these Superfund sites have been determined. Accordingly, at this time the Company cannot reasonably estimate expected costs for such matters. The liability for future environmental remediation costs that can be reasonably estimated is evaluated by management on a quarterly basis. The Company accrues amounts for environmental remediation costs that represent management's best estimate of the probable and reasonably estimable future costs related to environmental remediation. Estimates of the amount and timing of future costs of environmental remediation requirements are inherently imprecise because of the continuing evolution of environmental laws and regulatory requirements, the availability and application of technology, the identification of currently unknown remediation sites and the allocation of costs among the PRPs. Based upon information currently available, such future costs are not expected to have a material effect on the Company's financial position, results of operations or cash flows over the long-term. However, such costs could be material to the Company's financial position, results of operations or cash flows in a particular future quarter or year. Other The Company is defending various routine claims and legal actions that are incidental to its business and common to its operations, including those pertaining to product claims, commercial disputes, patent infringement, employment actions, employee benefits, compliance with domestic and foreign laws and regulations, personal injury claims and tax issues. Like many other manufacturing companies in recent years, the Company, from time to time, has been named as a defendant in lawsuits alleging personal injury as a result of exposure to chemicals and substances in the workplace such as asbestos. The Company provides for costs relating to these matters when a loss is probable and the amount of the loss is reasonably estimable. The effect of the outcome of these matters on the Company's future results of operations and liquidity cannot be predicted because any such effect depends on future results of operations and the amount and timing (both as to recording future charges to operations and cash expenditures) of the resolution of such matters. While it is not feasible to determine the outcome of these matters, management believes that the total liability from these matters will not have a material effect on the Company's financial position, results of operations or cash flows over the long-term. However, there can be no assurance that an increase in the scope of pending matters or that any future lawsuits, claims, proceedings or investigations will not be material to the Company's financial position, results of operations or cash flows in a particular future quarter or year. The Company has entered into purchase agreements primarily for various key raw materials at market related prices, all made in the normal course of business. The commitments include both fixed and variable price provisions. Raw material prices as of June 30, 2024, were used for commitments with variable pricing. The purchase commitments covered by these agreements aggregate to $243.8 million as of June 30, 2024. Of this amount, $176.3 million relates to fiscal year 2025, $44.7 million to fiscal year 2026, $21.9 million to fiscal year 2027, $0.5 million to fiscal year 2028 and $0.4 million to fiscal year 2029.

Leases

Leases	12 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company records ROU assets and operating lease liabilities on the consolidated balance sheets for several types of operating leases, including land and buildings, equipment (e.g. trucks and forklifts), vehicles and computer equipment. On the lease commencement date, the Company measures and records a ROU asset and lease liability equal to the present value of the remaining lease payments, discounted using the rate implicit in the lease (or if that rate cannot be readily determined, the Company's incremental borrowing rate). Operating leases are included in other assets, accrued liabilities (current) and other liabilities (long-term) on the consolidated balance sheets. The Company elected the practical expedient to not separate lease components from nonlease components for all asset classes. The Company recognizes lease expense in the consolidated statements of operations on a straight-line basis over the lease term. The Company elected to not recognize ROU assets and lease liabilities for short-term leases with an initial term of 12 months or less for all asset classes. Leases with the option to extend their term or terminate early are reflected in the lease term when it is reasonably certain that the Company will exercise such options. Some leasing arrangements require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance and tax payments. The variable lease payments are not presented as part of the ROU asset or lease liability. Total lease cost was $14.6 million, $14.0 million and $13.5 million for the fiscal years ended June 30, 2024, 2023 and 2022, respectively. The following table sets forth the components of the Company's lease cost for the fiscal years ended June 30, 2024, 2023 and 2022: Years Ended June 30, ($ in millions) 2024 2023 2022 Operating lease cost $ 11.0 $ 11.3 $ 10.9 Short-term lease cost 4.4 3.8 3.5 Variable lease cost 0.2 0.1 0.1 Sublease income (1.0) (1.2) (1.0) Total lease cost $ 14.6 $ 14.0 $ 13.5 Operating cash flow payments from operating leases $ 11.6 $ 12.3 $ 11.4 Noncash ROU assets obtained in exchange for lease obligations $ 4.3 $ 9.9 $ 16.5 The leases have a remaining term of one Years Ended June 30, 2024 2023 2022 Weighted-average remaining lease term - operating leases 7.4 years 8.0 years 8.5 years Weighted-average discount rate - operating leases 4.4 % 4.1 % 3.7 % The following table sets forth the Company's ROU assets and lease liabilities at June 30, 2024 and June 30, 2023: June 30, ($ in millions) 2024 2023 Operating lease assets: Other assets $ 39.0 $ 43.9 Operating lease liabilities: Accrued liabilities $ 8.8 $ 9.1 Other liabilities 38.4 43.6 Total operating lease liabilities $ 47.2 $ 52.7 Minimum lease payments by fiscal year for operating leases expiring subsequent to June 30, 2024, are as follows: ($ in millions) Lease Payments 2025 $ 10.4 2026 8.1 2027 7.6 2028 6.4 2029 4.9 Thereafter 17.7 Total future minimum lease payments 55.1 Less: imputed interest 7.9 Total $ 47.2

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The fair value hierarchy has three levels based on the inputs used to determine fair value. Level 1 refers to quoted prices in active markets for identical assets or liabilities. Level 2 refers to observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 refers to unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. Currently, the Company does not use Level 1 and 3 inputs. The following tables present the Company's assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy: June 30, 2024 Fair Value Measurements ($ in millions) Level 2 Assets: Derivative financial instruments $ — Liabilities: Derivative financial instruments $ 5.8 June 30, 2023 Fair Value Measurements ($ in millions) Level 2 Assets: Derivative financial instruments $ 3.7 Liabilities: Derivative financial instruments $ 6.8 The Company's derivative financial instruments have historically consisted of commodity forward contracts, foreign currency forward contracts, interest rate swaps and forward interest rate swaps. These instruments are measured at fair value using the market method valuation technique. The inputs to this technique utilize information related to foreign exchange rates, commodity prices and interest rates published by third party leading financial news and data providers. This is observable data; however, the valuation of these instruments is not based on actual transactions for the same instruments and, as such, they are classified as Level 2. The Company's use of derivatives and hedging policies are more fully discussed in Note 16. The Company has currently chosen not to elect the fair value option for any items that are not already required to be measured at fair value in accordance with accounting principles generally accepted in the United States of America. The carrying amounts of other financial instruments not listed in the table below approximate fair value due to the short-term nature of these items. The carrying amounts and estimated fair values of the Company's financial instruments not recorded at fair value in the financial statements were as follows: June 30, 2024 June 30, 2023 ($ in millions) Carrying Fair Carrying Fair Long-term debt $ 694.2 $ 709.1 $ 693.0 $ 698.1 Company-owned life insurance $ 31.8 $ 31.8 $ 26.2 $ 26.2 The fair values of long-term debt as of June 30, 2024, and June 30, 2023, were determined by using current interest rates for debt with terms and maturities similar to the Company's existing debt arrangements and accordingly would be classified as Level 2 inputs in the fair value hierarchy. The carrying amount of company-owned life insurance reflects cash surrender values based upon the market values of underlying securities, using Level 2 inputs, net of any outstanding policy loans. The carrying value associated with the cash surrender value of these policies is recorded in other assets in the accompanying consolidated balance sheets.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company has two share-based compensation plans: the Amended and Restated Stock-Based Incentive Compensation Plan for Officers and Key Employees (the "Omnibus Plan") and the Stock-Based Compensation Plan for Non-Employee Directors ("Director's Plan"). The Company recognizes compensation cost based on the fair value of the awards on the date of grant. The compensation cost is recognized over the requisite service period of the award, which is generally the shorter of the vesting period that the holder is required to provide service, or the period from the grant date to the date on which the employee is eligible to retire or the Director has a separation from service event. Upon the employee's retirement, as defined in the Omnibus Plan, or the Director's separation from service, as defined in the Director's Plan, outstanding awards are subject to certain accelerated vesting terms. Awards granted under the share-based compensation plans are paid from shares held in treasury and newly issued shares. The total compensation cost that has been charged against income related to these share-based compensation plans was $19.8 million, $16.4 million and $10.8 million for the fiscal years ended June 30, 2024, 2023 and 2022, respectively. Omnibus Plan The Omnibus Plan provides that the Board of Directors or a designated committee may grant stock options, restricted stock and restricted stock units, and determine the terms and conditions of each grant. The Omnibus Plan provides the Chief Executive Officer with limited authority to grant awards. As of June 30, 2024, 3,419,252 shares were available for awards which may be granted under this plan. Director's Plan The Director's Plan provides for the granting of stock options and stock units to non-employee directors. As of June 30, 2024, 171,911 shares were available for awards which may be granted under this plan. Stock Options (all plans) Stock options granted under the plans above are granted with an exercise price equal to at least the fair market value of the Company's common stock on the date of grant. The options are typically exercisable after one The fair value of stock options awarded in fiscal years 2024, 2023 and 2022 was estimated on the date of each grant using a Black-Scholes option pricing model with the following weighted-average assumptions: Years Ended June 30, 2024 2023 2022 Expected volatility 55.4 % 54.0 % 51.6 % Dividend yield 1.1 % 2.2 % 2.4 % Risk-free interest rate 4.6 % 4.0 % 1.1 % Expected term (in years) 5.0 5.0 5.0 The assumptions are based on multiple factors, including historical exercise patterns of employees in relatively homogeneous groups with respect to exercise and post-vesting employment termination behaviors, expected future exercising patterns for these same homogeneous groups and the implied volatility of our stock price based on historical performance for the same expected term of the options granted. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of each grant. Number of Weighted Weighted Aggregate Outstanding at June 30, 2021 2,075,753 $ 43.47 Granted 36,444 $ 34.43 Exercised (891) $ 39.70 Forfeited (69,656) $ 40.52 Expired (79,061) $ 54.49 Outstanding at June 30, 2022 1,962,589 $ 42.96 Granted 27,956 $ 36.24 Exercised (117,621) $ 42.39 Withheld (1,136) $ 44.90 Forfeited (2,097) $ 42.16 Expired (61,517) $ 49.67 Outstanding at June 30, 2023 1,808,174 $ 42.67 Granted 11,014 $ 70.64 Exercised (835,532) $ 45.06 Withheld (369,042) $ 39.81 Forfeited (1,028) $ 70.64 Outstanding at June 30, 2024 613,586 $ 41.61 3.6 years $ 41.7 Exercisable at June 30, 2024 603,600 $ 41.13 3.5 years $ 41.3 Outstanding and Exercisable Options Exercise Price Number Outstanding at June 30, 2024 Weighted Weighted Number Exercisable at June 30, 2024 Weighted $18.26 - $20.00 50,142 6.3 $ 18.26 50,142 $ 18.26 $20.01 - $30.00 — 0.0 $ — — $ — $30.01 - $40.00 160,379 3.6 $ 37.13 160,379 $ 37.13 $40.01 - $50.00 311,969 3.0 $ 42.58 311,969 $ 42.58 $50.01 - $60.00 81,110 3.1 $ 57.59 81,110 $ 57.59 $60.01 - $70.64 9,986 9.3 $ 70.64 — $ — 613,586 $ 41.61 603,600 $ 41.13 The weighted average grant date fair value of options awarded during fiscal years 2024, 2023 and 2022 was $34.06, $15.55 and $12.39, respectively. Share-based compensation charged against income related to stock options for the fiscal years ended June 30, 2024, 2023 and 2022 was $0.4 million, $0.5 million and $0.6 million, respectively. As of June 30, 2024, $0.1 million of compensation cost related to nonvested stock options will be recognized over a weighted average remaining life of 0.3 years. Of the options outstanding at June 30, 2024, 384,642 relate to the Omnibus Plan and 228,944 relate to the Directors' Plan. Restricted Stock Unit Awards (Omnibus Plan) Restricted stock unit awards are granted to employees with performance and/or service conditions. Dividend equivalents are accrued for earned restricted stock unit awards and will only be paid upon satisfaction of the terms and conditions applicable to the underlying restricted stock units. The fair value of the restricted stock unit awards is determined based on the close price of the Company's stock on the grant date. Performance-based restricted stock unit awards are earned dependent upon how certain performance goals are achieved during a specified performance period according to the terms determined at the date of the grant. These shares typically vest upon expiration of the performance period. Compensation cost is determined and charged to expense beginning in the performance period through the vesting period. Time-based restricted stock unit awards typically vest one Amounts charged to compensation expense for restricted stock unit awards were $9.8 million, $8.6 million and $8.0 million for the fiscal years ended June 30, 2024, 2023 and 2022, respectively. As of June 30, 2024, $7.6 million of compensation cost related to restricted stock unit awards remains to be recognized over a weighted average remaining life of 1.5 years. Number of Awards Weighted Average Grant Date Fair Value Restricted Award Balance at June 30, 2021 496,325 $ 29.44 Time-based granted 281,533 $ 35.76 Vested (216,656) $ 32.71 Forfeited (45,538) $ 32.35 Restricted Award Balance at June 30, 2022 515,664 $ 31.27 Time-based granted 285,268 $ 39.01 Vested (246,306) $ 31.37 Forfeited (31,880) $ 35.23 Restricted Award Balance at June 30, 2023 522,746 $ 35.18 Time-based granted 191,909 $ 61.42 Vested (273,296) $ 32.67 Forfeited (40,262) $ 45.19 Restricted Award Balance at June 30, 2024 401,097 $ 48.44 The Company granted performance-based awards in fiscal years 2024, 2023 and 2022 within the Omnibus Plan. The awards are granted at a target number of shares. These awards are earned dependent upon how certain performance goals are achieved during a specified performance period according to the terms determined at the date of the grant. The actual number of shares awarded may range from a minimum of 0 percent of the target shares to a maximum of 200 percent of the target shares. Participants do not have any rights to dividends (or equivalents) during the performance period. These shares typically vest upon expiration of the performance period. Compensation cost is determined and charged to expense beginning in the performance period through the vesting period. In fiscal years 2024, 2023 and 2022 expense of $8.3 million, $6.1 million and $1.1 million was recognized for these awards, respectively. Compensation cost in fiscal year 2024 reflects higher performance attainment compared to fiscal years 2023 and 2022. Director Stock Units According to the provisions of the Director's Plan, on the date of each annual stockholders' meeting or on such other regularly scheduled date as the Board of Directors may determine from time to time in light of the Company's prevailing practices for the grant of equity awards to employees, each Director shall be granted, in place of cash compensation, a number of stock units determined by dividing 50 percent of the Director's annual retainer by the fair market value of the Company's common stock on that date. These stock units vest on the first anniversary of the grant date, provided that one-quarter of the units granted within the one year period preceding separation from service (for reasons other than cause, a change in control, death or disability) will vest for every three months of service following the grant date. At the Director's election, the remaining 50 percent of the annual retainer and 100 percent of committee chair fees may be paid in stock units in lieu of cash. These units are immediately vested. In addition to the grant of retainer stock units described above, each Director may be granted annually an additional award of stock units as the Board may determine by resolution. These stock units vest on the first anniversary of the grant date, provided that one-quarter of the units granted within the one-year period preceding separation from service (for reasons other than cause, a change in control, death or disability) will vest for every three months of service following the grant date. Additional units are credited to each Director on a quarterly basis to reflect dividend equivalents on the Company's common stock. In the case of separation from service due to death or disability, all stock units shall immediately vest. Following a Director's separation from service, or such other elected distribution date or event, the number of stock units credited to the Director's account will be converted to an equivalent number of the Company's common stock. Number of Units Weighted Average Grant Date Fair Value Outstanding at June 30, 2021 353,365 $ 35.54 Granted 37,234 $ 33.62 Distributed (81,136) $ 33.28 Dividend equivalents 7,770 $ — Outstanding at June 30, 2022 317,233 $ 31.89 Granted 38,433 $ 34.93 Distributed (54,057) $ 35.85 Dividend equivalents 5,962 $ — Outstanding at June 30, 2023 307,571 $ 30.75 Granted 21,590 $ 71.01 Distributed (11,653) $ 36.14 Forfeited (1,912) $ 70.64 Dividend equivalents 3,223 $ — Outstanding at June 30, 2024 318,819 $ 33.85 Compensation cost is determined using the grant date fair value and charged to expense over the vesting period of one year. This amounted to $1.3 million, $1.2 million and $1.1 million for the fiscal years ended June 30, 2024, 2023 and 2022, respectively. As of June 30, 2024, $0.3 million of compensation cost related to director stock units remains to be recognized over a weighted average remaining life of 0.3 years.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company, from time to time, uses commodity forwards, interest rate swaps, forward interest rate swaps and foreign currency forwards to manage risks generally associated with commodity price, interest rate and foreign currency rate fluctuations. The following explains the various types of derivatives and includes a summary of the impact the derivative instruments had on the Company's financial position, results of operations and cash flows. Cash Flow Hedging — Commodity forward contracts: The Company enters into commodity forward contracts to fix the price of a portion of anticipated future purchases of certain critical raw materials and energy to manage the risk of cash flow variability associated with volatile commodity prices. The commodity forward contracts have been designated as cash flow hedges. The qualifying hedge contracts are marked-to-market at each reporting date and any unrealized gains or losses are included in accumulated other comprehensive income (loss) to the extent effective, and reclassified to cost of sales in the period during which the hedged transaction affects earnings or it becomes probable that the forecasted transaction will not occur. As of June 30, 2024, the Company had forward contracts to purchase 2.0 million pounds of certain raw materials with settlement dates through December 2025. Cash Flow Hedging — Forward interest rate swaps: Historically, the Company has entered into forward interest rate swap contracts to manage the risk of cash flow variability associated with fixed interest debt expected to be issued. The forward interest rate swaps were designated as cash flow hedges. The qualifying hedge contracts were marked-to-market at each reporting date and any unrealized gains or losses were included in AOCI to the extent effective and reclassified to interest expense in the period during which the hedged transaction affected earnings or it became probable that the forecasted transaction would not occur. For the fiscal years ended June 30, 2024, 2023 and 2022, net gains of $0.0 million, $0.0 million and $0.4 million, respectively, were recorded as a reduction to interest expense Cash Flow Hedging — Foreign currency forward contracts: The Company, from time to time, uses foreign currency forward contracts to hedge a portion of anticipated future sales denominated in foreign currencies, principally the Euro and Pound Sterling, in order to offset the effect of changes in exchange rates. The qualifying hedge contracts are marked-to-market at each reporting date and any unrealized gains or losses are included in AOCI to the extent effective and reclassified to net sales in the period during which the transaction affects earnings or it becomes probable that the forecasted transaction will not occur. The Company had no qualifying foreign currency hedge contracts as of June 30, 2024 and 2023. The Company also uses foreign currency forward contracts to protect certain short-term asset positions denominated in foreign currencies against the effect of changes in exchange rates. These positions do not qualify for hedge accounting and accordingly are marked-to-market at each reporting date through charges to other expense (income), net. As of June 30, 2024, the fair value of the outstanding foreign currency forwards not designated as hedging instruments and the charges to income for changes in fair value for these contracts were not material. The fair value and location of outstanding derivative contracts recorded in the accompanying consolidated balance sheets were as follows as of June 30, 2024 and 2023: June 30, 2024 Foreign Currency Contracts Commodity Contracts Total Derivatives Asset Derivatives: Other current assets $ — $ — $ — Other assets — — — Total asset derivatives $ — $ — $ — Liability Derivatives: Accrued liabilities $ — $ 3.6 $ 3.6 Other liabilities 1.4 0.8 2.2 Total liability derivatives $ 1.4 $ 4.4 $ 5.8 June 30, 2023 Foreign Currency Contracts Commodity Contracts Total Derivatives Asset Derivatives: Other current assets $ 2.1 $ 1.6 $ 3.7 Other assets — — — Total asset derivatives $ 2.1 $ 1.6 $ 3.7 Liability Derivatives: Accrued liabilities $ — $ 6.4 $ 6.4 Other liabilities — 0.4 0.4 Total liability derivatives $ — $ 6.8 $ 6.8 Substantially all of the Company's derivative contracts are subject to master netting arrangements, or similar agreements with each counterparty, which provide for the option to settle contracts on a net basis when they settle on the same day and in the same currency. In addition, these arrangements provide for a net settlement of all contracts with a given counterparty in the event that the arrangement is terminated due to the occurrence of default or a termination event. The Company presents the outstanding derivative contracts on a net basis by counterparty in the consolidated balance sheets. If the Company had chosen to present the derivative contracts on a gross basis, the total asset derivatives would have been $0.2 million and total liability derivatives would have been $6.0 million as of June 30, 2024. According to the provisions of the Company's derivative arrangements, in the event that the fair value of outstanding derivative positions with certain counterparties exceeds certain thresholds, the Company may be required to issue cash collateral to the counterparties. As of June 30, 2024, the Company had no cash collateral held by counterparties. The Company is exposed to credit loss in the event of nonperformance by counterparties on its derivative instruments as well as credit or performance risk with respect to its customer commitments to perform. Although nonperformance is possible, the Company does not anticipate nonperformance by any of the parties. In addition, various master netting arrangements are in place with counterparties to facilitate settlements of gains and losses on these contracts. Cash Flow Hedges For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative is reported as a component of AOCI and reclassified into earnings in the same period or periods during which the hedged transactions affect earnings or it becomes probable the forecasted transactions will not occur. The following is a summary of the (losses) gains related to cash flow hedges recognized during the fiscal years ended June 30, 2024, 2023 and 2022: Amount of (Loss) Gain Recognized in AOCI on Derivatives ($ in millions) 2024 2023 2022 Derivatives in Cash Flow Hedging Relationship: Commodity contracts $ (9.6) $ (8.8) $ 26.8 Total $ (9.6) $ (8.8) $ 26.8 Amount of (Loss) Gain Reclassified from AOCI into Income ($ in millions) Location of (Loss) Gain 2024 2023 2022 Derivatives in Cash Flow Hedging Relationship: Commodity contracts Cost of sales $ (11.0) $ 7.7 $ 28.3 Forward interest rate swaps Interest expense — — 0.4 Total $ (11.0) $ 7.7 $ 28.7 The following is a summary of total amounts presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded during the fiscal years ended June 30, 2024 and 2023: Year Ended Year Ended ($ in millions) Cost of Sales Cost of Sales Total amounts presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded $ 2,175.4 $ 2,213.0 (Loss) Gain on Derivatives in Cash Flow Hedging Relationship: Commodity contracts Amount of (loss) gain reclassified from AOCI to income (11.0) 7.7 Total (loss) gain $ (11.0) $ 7.7 The Company estimates that $1.5 million of net derivative losses included in AOCI as of June 30, 2024, will be reclassified into earnings within the next twelve months. No significant cash flow hedges were discontinued during the year ended June 30, 2024. The changes in AOCI associated with derivative hedging activities during the fiscal years ended June 30, 2024, 2023 and 2022 were as follows: Years Ended June 30, ($ in millions) 2024 2023 2022 Balance, beginning $ (7.0) $ 5.5 $ 6.9 Current period changes in fair value, net of tax (7.3) (6.7) 20.4 Reclassification to earnings, net of tax 8.4 (5.8) (21.8) Balance, ending $ (5.9) $ (7.0) $ 5.5

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income (loss) before income taxes for the Company's domestic and foreign operations was as follows: Years Ended June 30, ($ in millions) 2024 2023 2022 Domestic $ 224.1 $ 51.2 $ (74.0) Foreign (12.5) 21.3 10.9 Income (loss) before income taxes $ 211.6 $ 72.5 $ (63.1) The expense (benefit) for income taxes from continuing operations consisted of the following: Years Ended June 30, ($ in millions) 2024 2023 2022 Current: Federal $ 30.4 $ 8.6 $ (14.7) State 4.2 2.6 0.1 Foreign 3.8 5.3 3.7 Total current 38.4 16.5 (10.9) Deferred: Federal (10.1) (0.9) (1.0) State (2.7) (0.5) (2.7) Foreign (0.5) 1.0 0.6 Total deferred (13.3) (0.4) (3.1) Total income tax expense (benefit) $ 25.1 $ 16.1 $ (14.0) 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 income (loss)) 2024 2023 2022 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal tax benefit 2.7 2.8 3.1 Foreign tax rate differential (0.3) 0.9 (1.0) Research and development tax credit (1.6) (3.5) 4.4 Foreign derived intangible income deduction (1.8) — — Adjustments of prior years' income taxes — 8.7 (7.4) Non-deductible goodwill impairment 1.4 — — Tax benefit related to closure of Additive operations (8.7) — — Non-taxable income (0.5) (0.8) (1.0) Non-deductible expenses 6.4 (0.1) (0.7) Non-deductible compensation 1.6 1.4 (1.1) Share-based compensation (3.2) — (0.7) Changes in valuation allowances (4.7) (7.4) 6.0 Law changes — 0.4 — Interest on prior tax positions (0.4) (1.3) 0.2 Other, net — 0.1 (0.6) Effective income tax rate 11.9 % 22.2 % 22.2 % Deferred taxes are recorded for temporary differences between the carrying amounts of assets and liabilities and their tax bases. A valuation allowance is required when it is more likely than not that all or a portion of a deferred tax asset will not be realized. The Company had state net operating loss carryforwards of $178.2 million expiring between fiscal years 2024 and 2044. A significant portion of the state net operating loss carryforwards are subject to an annual limitation that, under current law, is likely to limit future tax benefits to approximately $7.0 million. Realization is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards. Although realization is not assured, management believes it is more likely than not that all of the deferred tax asset will be realized. The amount of the deferred tax asset considered realizable, however, could be revised in the near term if estimates of future taxable income during the carryforward period change. Valuation allowances decreased by $11.2 million during fiscal year 2024. Liquidation of the Carpenter Additive business in the United Kingdom for tax purposes resulted in the write-off of net deferred tax assets of $7.2 million for which no benefit was recognized. The write-off of the net deferred tax assets reduced the valuation allowance. The expiration of $3.3 million net operating losses, for which no tax benefit was recognized, caused a reduction in the valuation allowance. As a result of increases in estimates of projected future taxable income during the carryforward period, the valuation allowance was reduced by $0.9 million for the expected realization of previously limited net operating loss carryforwards. This was partially offset by a $0.2 million increase in net operating losses incurred in certain jurisdictions for which no tax benefit was recognized. The significant components of deferred tax assets and liabilities that are recorded in the consolidated balance sheets are summarized in the table below: June 30, ($ in millions) 2024 2023 Deferred tax assets: Pensions $ 33.1 $ 39.8 Postretirement provisions 14.4 20.0 Non-equity compensation 9.6 16.0 Net operating loss carryforwards 8.5 22.5 Tax credit carryforwards 2.0 1.2 Operating lease liabilities 8.9 10.0 Other 20.1 22.3 Gross deferred tax assets 96.6 131.8 Valuation allowances (2.4) (13.6) Total deferred tax assets 94.2 118.2 Deferred tax liabilities: Depreciation 219.6 237.6 Intangible assets 3.2 5.8 Inventories 28.2 27.4 Operating lease right-of-use assets 7.0 8.0 Other 2.8 3.1 Total deferred tax liabilities 260.8 281.9 Deferred tax liabilities, net $ 166.6 $ 163.7 The Company does not have unrecognized tax benefits as of June 30, 2024, 2023 and 2022. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. All years prior to fiscal year 2018 have been settled with the Internal Revenue Service and with most significant state, local and foreign tax jurisdictions.

Other Expense (Income), Net

Other Expense (Income), Net	12 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other Expense (Income), Net	Other Expense (Income), Net Other expense (income) , net consists of the following: Years Ended June 30, ($ in millions) 2024 2023 2022 Unrealized (gains) losses on company-owned life insurance contracts and investments held in rabbi trusts $ (5.8) $ (3.3) $ 4.8 Interest income (1.8) (0.6) (0.1) Foreign exchange losses 1.8 0.4 1.3 Pension earnings, interest and deferrals 14.4 10.0 (18.3) Pension settlement charge 51.9 — — Other — — (0.4) Total other expense (income), net $ 60.5 $ 6.5 $ (12.7)

Segment Information, Geographic

Segment Information, Geographic and Product Data	12 Months Ended
	Jun. 30, 2024
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 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 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 results exclude 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 restructuring charges 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, amortization of actuarial gains and losses and prior service costs and pension settlement charges 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, 2024, 2023 and 2022. No single customer accounted for 10 percent or more of the accounts receivable outstanding at June 30, 2024 and 2023. Net Sales Years Ended June 30, ($ in millions) 2024 2023 2022 Specialty Alloys Operations $ 2,443.8 $ 2,213.6 $ 1,565.6 Performance Engineered Products 411.0 433.7 344.5 Intersegment (95.1) (97.0) (73.8) Consolidated net sales $ 2,759.7 $ 2,550.3 $ 1,836.3 Operating Income (Loss) Years Ended June 30, ($ in millions) 2024 2023 2022 Specialty Alloys Operations $ 408.5 $ 179.1 $ 9.6 Performance Engineered Products 36.0 31.8 18.1 Corporate costs (including special items) (123.0) (75.5) (52.8) Intersegment 1.6 (2.3) 0.2 Consolidated operating income (loss) $ 323.1 $ 133.1 $ (24.9) Depreciation and Amortization Years Ended June 30, ($ in millions) 2024 2023 2022 Specialty Alloys Operations $ 113.3 $ 110.0 $ 110.1 Performance Engineered Products 16.3 15.6 15.8 Corporate 5.0 5.4 5.5 Consolidated depreciation and amortization $ 134.6 $ 131.0 $ 131.4 Capital Expenditures Years Ended June 30, ($ in millions) 2024 2023 2022 Specialty Alloys Operations $ 80.0 $ 70.2 $ 77.5 Performance Engineered Products 13.2 10.1 10.8 Corporate 3.4 2.0 3.0 Consolidated capital expenditures $ 96.6 $ 82.3 $ 91.3 Total Assets June 30, ($ in millions) 2024 2023 Specialty Alloys Operations $ 2,542.2 $ 2,461.2 Performance Engineered Products 431.5 451.6 Corporate 334.8 159.0 Intersegment (16.8) (17.9) Consolidated total assets $ 3,291.7 $ 3,053.9 Geographic Location Net Sales (a) Years Ended June 30, ($ in millions) 2024 2023 2022 United States $ 1,623.0 $ 1,556.2 $ 1,179.9 Europe 503.8 437.3 253.5 Asia Pacific 391.3 319.5 233.9 Mexico 120.1 124.0 89.4 Canada 70.1 60.1 41.5 Other 51.4 53.2 38.1 Consolidated net sales $ 2,759.7 $ 2,550.3 $ 1,836.3 (a) Net sales are attributed to geographic region based on the location of the customer. Long-lived Assets June 30, ($ in millions) 2024 2023 United States $ 1,330.0 $ 1,368.1 Europe 3.0 13.1 Mexico 1.3 1.6 Asia Pacific 0.5 0.5 Canada 0.4 0.5 Consolidated long-lived assets $ 1,335.2 $ 1,383.8

Reclassifications from Accumula

Reclassifications from Accumulated Other Comprehensive Loss	12 Months Ended
	Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Reclassifications from Accumulated Other Comprehensive Loss	Reclassifications from Accumulated Other Comprehensive Loss The changes in AOCI by component, net of tax, for the years ended June 30, 2024 and 2023 were as follows: ($ in millions) (a) Cash flow hedging items Pension and other postretirement benefit plan items Foreign currency items Total Balances at June 30, 2023 $ (7.0) $ (95.5) $ (40.5) $ (143.0) Other comprehensive (loss) income before reclassifications (7.3) 8.8 (3.2) (1.7) Amounts reclassified from AOCI (b) 8.4 42.4 — 50.8 Net other comprehensive income (loss) 1.1 51.2 (3.2) 49.1 Balances at June 30, 2024 $ (5.9) $ (44.3) $ (43.7) $ (93.9) ($ in millions) (a) Cash flow hedging items Pension and other postretirement benefit plan items Foreign currency items Total Balances at June 30, 2022 $ 5.5 $ (132.9) $ (46.1) $ (173.5) Other comprehensive (loss) income before reclassifications (6.7) 32.9 5.6 31.8 Amounts reclassified from AOCI (b) (5.8) 4.5 — (1.3) Net other comprehensive (loss) income (12.5) 37.4 5.6 30.5 Balances at June 30, 2023 $ (7.0) $ (95.5) $ (40.5) $ (143.0) (a) All amounts are net of tax. Amounts in parentheses indicate debits. (b) See separate table below for further details. The following is a summary of amounts reclassified from AOCI for the years ended June 30, 2024 and 2023: Amount Reclassified from AOCI Details about AOCI Components Years Ended June 30, ($ in millions) (a) Location of (loss) gain 2024 2023 Cash flow hedging items: Commodity contracts Cost of sales $ (11.0) $ 7.7 Total before tax (11.0) 7.7 Tax benefit (expense) 2.6 (1.9) Net of tax $ (8.4) $ 5.8 Amount Reclassified from AOCI Details about AOCI Components Years Ended June 30, ($ in millions) (a) Location of (loss) gain 2024 2023 Amortization of pension and other postretirement benefit plan items: Net actuarial loss $ (5.5) $ (7.7) Prior service benefit 1.8 1.8 Settlement charge (51.9) — Total before tax (b) (55.6) (5.9) Tax benefit (b) 13.2 1.4 Net of tax (b) $ (42.4) $ (4.5) (a) Amounts in parentheses indicate debits to income/loss. (b) These AOCI components are included in the computation of net periodic benefit cost (see Note 11 for additional details).

Supplemental Data

Supplemental Data	12 Months Ended
	Jun. 30, 2024
Supplemental Data
Supplemental Data	Supplemental Data The following are additional required disclosures and other material items: Years Ended June 30, ($ in millions) 2024 2023 2022 Cost Data: Repairs and maintenance costs $ 126.7 $ 101.4 $ 74.6 Cash Flow Data: Noncash investing and financing activities: Noncash purchases of property, plant, equipment and software $ 10.6 $ 13.6 $ 7.6 Cash paid (received) during the year for: Interest payments, net $ 49.2 $ 50.9 $ 40.5 Income tax payments (refunds), net $ 62.8 $ 9.9 $ (46.1)

SCHEDULE II. VALUATION AND QUAL

SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Jun. 30, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS ($ in millions) Column A Column B Column C Column D Column E Description Balance at Charged to Charged to Deductions Balance at Year Ended June 30, 2024 Allowance for doubtful accounts receivable $ 3.1 $ 1.0 $ (0.1) $ — $ 4.0 Deferred tax valuation allowance $ 13.6 $ (11.2) $ — $ — $ 2.4 Year Ended June 30, 2023 Allowance for doubtful accounts receivable $ 3.3 $ (0.4) $ 0.2 $ — $ 3.1 Deferred tax valuation allowance $ 21.3 $ (7.7) $ — $ — $ 13.6 Year Ended June 30, 2022 Allowance for doubtful accounts receivable $ 3.6 $ (0.4) $ 0.1 $ — $ 3.3 Deferred tax valuation allowance $ 25.2 $ (3.9) $ — $ — $ 21.3

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 186.5	$ 56.4	$ (49.1)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Jun. 30, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation
Revenue Recognition	Revenue Recognition Revenue, net of related discounts, rebates, returns and allowances is recognized when performance obligations are satisfied under the terms of a customer order or contract. 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, based on the applicable shipping terms, or when the service is performed. 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. Freight and Handling Fees and Costs Freight and handling fees and costs billed separately to customers are included as part of net sales, and freight and handling costs expensed are included as part of cost of sales on the consolidated statements of operations.
Research and Development	Research and Development
Cash Equivalents	Cash Equivalents Cash equivalents consist of highly liquid instruments with original maturities of three months or less. Cash equivalents are stated at cost, which approximates market.
Accounts Receivable	Accounts Receivable
Inventories	Inventories
Property, Plant and Equipment and Depreciation	Property, Plant and Equipment and Depreciation
Computer Software and Amortization	Computer Software and Amortization
Goodwill	Goodwill Goodwill, net of accumulated impairment losses, representing the excess of the cost over the net tangible and identifiable intangible assets of acquired businesses, is stated at cost. Goodwill is not amortized but instead is tested at least annually for impairment as of June 1, or more frequently if events or circumstances indicate that the carrying amount of goodwill may be impaired. Potential impairment is identified by comparing the fair value of a reporting unit to its carrying value, including goodwill. The fair value is estimated using a weighting of discounted cash flows and the use of market multiples valuation techniques for the SAO reporting unit and the Dynamet reporting unit in the PEP segment. The discounted cash flow technique requires the use of cash flow forecasts. The cash flow forecasts include significant judgments and assumptions related to revenue growth rates, which include perpetual growth rates, gross margin and weighted average cost of capital. The market multiples valuation technique includes significant judgment in the determination of the market multiples. If the carrying value of the reporting unit exceeds its fair value, any impairment loss is measured by the difference between the carrying value of the reporting unit and its fair value, not to exceed the carrying amount of goodwill.
Intangible assets	Intangible assets
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Leases	Leases
Environmental Expenditures	Environmental Expenditures
Derivative Financial Instruments	Derivative Financial Instruments
Foreign Currency Translation	Foreign Currency Translation
Income Taxes	Income Taxes Deferred income taxes are recognized by applying enacted statutory tax rates, applicable to future years, to temporary differences between the tax basis and financial statement carrying values of the Company's assets and liabilities. Valuation allowances are recorded to reduce deferred tax assets to amounts that are more likely than not to be realized. Significant judgments, estimates and assumptions are required in determining tax return reporting positions and in calculating provisions for income tax, which are based on interpretations of tax regulations and accounting pronouncements. Liabilities are established for uncertain tax positions when it is more likely than not that such positions, if challenged, would not be sustained upon review by taxing authorities. These liabilities are re-evaluated as tax regulations and facts and circumstances change, such as the closing of a tax audit or the expiration of the statute of limitations for a specific exposure.
Earnings per Share	Earnings per Share The Company calculates basic and diluted earnings per share using the two class method. Under the two class method, earnings are allocated to common stock and participating securities (non-vested restricted shares and units that receive non-forfeitable dividends) according to their participation rights in dividends and undistributed earnings. The earnings available to each class of stock are divided by the weighted average number of outstanding shares for the period in each class. Diluted earnings per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding.
Concentration of Credit Risk	Concentration of Credit Risk
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Issued Accounting Pronouncements - Pending Adoption In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The guidance in this ASU enhances the transparency and decision functionality of income tax disclosures to provide investors information to better assess how an entity's operations and related tax risks, tax planning and operational opportunities affect its tax rate and prospects for future cash flow. The amendments in this ASU require public entities to disclose the following specific categories in the rate reconciliation by both percentages and reporting currency amounts: the effect of state and local income tax, net of federal (national) income tax, foreign tax effects, effects of changes in tax laws or rates enacted in the current period, effects of cross-border tax laws, tax credits, changes in valuation allowances, nontaxable or nondeductible items and changes in unrecognized tax benefits. The amendments in ASU 2023-09 also require public entities to provide additional information for reconciling items that meet the qualitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pre-tax income (loss) by the applicable statutory income tax rate). The ASU requires reporting entities to annually disclose the year-to-date amount of income taxes paid (net of refunds received) disaggregated by federal, state and foreign localities. The amendments in this ASU should be applied on a prospective basis and retrospective application is permitted. For public business entities, ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements not yet issued. ASU 2023-09 is a requirement for additional disclosure and is not expected to materially impact the consolidated financial statements. In November 2023, the FASB issued ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The guidance in ASU 2023-07 seeks to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this ASU require a public entity to disclose the following: significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss; an amount for other segment items by reportable segment and a description of its composition; and the title and position of the CODM and how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. This ASU requires public entities to provide all annual disclosures about a reportable segment's profit or loss and assets currently required by Topic 280 in interim periods. ASU 2023-07 clarifies that if the CODM uses more than one measure of a segment's profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is a requirement for additional disclosure and is not expected to materially impact the consolidated financial statements. Recently Issued Accounting Pronouncements - Adopted In November 2021, the FASB issued ASU 2021-10 Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. The amendments in ASU 2021-10 require the following annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy: information about the nature of the transactions and the related accounting policy used to account for the transactions; the line items on the balance sheet and income statement that are affected by the transactions, and the amounts applicable to each financial statement line item; significant terms and conditions of the transactions, including commitments and contingencies. ASU 2021-10 is effective for public business entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2021, with early adoption permitted. The Company adopted the provisions of ASU 2021-10 in the fourth quarter of fiscal year 2022. ASU 2021-10 is a requirement for additional disclosure and it did not materially impact the consolidated financial statements. In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (Topic 848). The guidance in ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform, if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments became effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. In December 2022, the FASB issued ASU 2022-06 for Topic 848 which extended the application of optional expedients and exceptions from ASU 2020-04 to June 30, 2023. The Company's Prior Credit Agreement, in place as of March 31, 2023, referenced LIBOR in certain borrowing situations. The Credit Facility was entered into on April 14, 2023 and replaced LIBOR with the Secured Oversight Financing Rate ("SOFR"). Through March 31, 2023, the Company had not experienced any unintended outcomes or consequences of reference rate reform that would have required the adoption of this guidance. The adoption of ASU 2022-06 did not materially impact the consolidated financial statements.
Fair Value Measurements	Fair Value Measurements
Fair Value of Financial Instruments	The Company's derivative financial instruments have historically consisted of commodity forward contracts, foreign currency forward contracts, interest rate swaps and forward interest rate swaps. These instruments are measured at fair value using the market method valuation technique. The inputs to this technique utilize information related to foreign exchange rates, commodity prices and interest rates published by third party leading financial news and data providers. This is observable data; however, the valuation of these instruments is not based on actual transactions for the same instruments and, as such, they are classified as Level 2. The Company's use of derivatives and hedging policies are more fully discussed in Note 16. The Company has currently chosen not to elect the fair value option for any items that are not already required to be measured at fair value in accordance with accounting principles generally accepted in the United States of America.

Restructuring and Asset Impai_2

Restructuring and Asset Impairment Charges (Tables)	12 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Summary of Restructuring Charges	The reserve balances and activity for restructuring charges at June 30, 2024 and 2023 were as follows: June 30, ($ in millions) 2024 2023 Reserve balance beginning of year $ — $ — Restructuring charges excluding noncash impairments 1.1 — Cash payments — — Reserve balance end of year $ 1.1 $ —

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Revenues by End-Use Markets and Geography	Comparative information of the Company's overall revenues by end-use markets and geographic locations for fiscal years ended June 30, 2024, 2023 and 2022 were as follows: End-Use Market Year Ended June 30, 2024 ($ in millions) SAO PEP Intersegment Total Aerospace and Defense $ 1,449.9 $ 111.1 $ (22.2) $ 1,538.8 Medical 282.4 144.9 (51.7) 375.6 Transportation 141.3 8.2 (0.4) 149.1 Energy 177.2 8.6 — 185.8 Industrial and Consumer 393.0 40.3 (18.0) 415.3 Distribution — 97.9 (2.8) 95.1 Total net sales $ 2,443.8 $ 411.0 $ (95.1) $ 2,759.7 End-Use Market Year Ended June 30, 2023 ($ in millions) SAO PEP Intersegment Total Aerospace and Defense $ 1,214.6 $ 108.0 $ (31.9) $ 1,290.7 Medical 213.8 123.4 (35.6) 301.6 Transportation 178.5 7.5 (1.0) 185.0 Energy 151.6 11.6 0.1 163.3 Industrial and Consumer 455.1 60.6 (28.5) 487.2 Distribution — 122.6 (0.1) 122.5 Total net sales $ 2,213.6 $ 433.7 $ (97.0) $ 2,550.3 End-Use Market Year Ended June 30, 2022 ($ in millions) SAO PEP Intersegment Total Aerospace and Defense $ 739.3 $ 76.7 $ (25.8) $ 790.2 Medical 155.1 79.9 (22.7) 212.3 Transportation 173.4 5.2 (0.3) 178.3 Energy 104.8 8.1 0.1 113.0 Industrial and Consumer 393.0 49.1 (24.9) 417.2 Distribution — 125.5 (0.2) 125.3 Total net sales $ 1,565.6 $ 344.5 $ (73.8) $ 1,836.3 Geographic Location Year Ended June 30, 2024 ($ in millions) SAO PEP Intersegment Total United States $ 1,418.5 $ 234.4 $ (29.9) $ 1,623.0 Europe 449.2 75.5 (20.9) 503.8 Asia Pacific 389.4 46.2 (44.3) 391.3 Mexico 86.0 34.1 — 120.1 Canada 56.9 13.2 — 70.1 Other 43.8 7.6 — 51.4 Total net sales $ 2,443.8 $ 411.0 $ (95.1) $ 2,759.7 Geographic Location Year Ended June 30, 2023 ($ in millions) SAO PEP Intersegment Total United States $ 1,350.7 $ 242.3 $ (36.8) $ 1,556.2 Europe 373.6 81.4 (17.7) 437.3 Asia Pacific 317.4 44.5 (42.4) 319.5 Mexico 83.7 40.3 — 124.0 Canada 44.1 16.0 — 60.1 Other 44.1 9.2 (0.1) 53.2 Total net sales $ 2,213.6 $ 433.7 $ (97.0) $ 2,550.3 Geographic Location Year Ended June 30, 2022 ($ in millions) SAO PEP Intersegment Total United States $ 1,018.6 $ 191.1 $ (29.8) $ 1,179.9 Europe 208.5 58.0 (13.0) 253.5 Asia Pacific 231.8 33.1 (31.0) 233.9 Mexico 44.2 45.2 — 89.4 Canada 29.6 11.9 — 41.5 Other 32.9 5.2 — 38.1 Total net sales $ 1,565.6 $ 344.5 $ (73.8) $ 1,836.3

Earnings (Loss) per Common Sh_2

Earnings (Loss) per Common Share (Tables)	12 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Calculations Basic and Diluted Earnings (Loss) per Common Share	The calculations of basic and diluted earnings (loss) per common share for the years ended June 30, 2024, 2023 and 2022 were as follows: Years Ended June 30, (in millions, except per share data) 2024 2023 2022 Net income (loss) $ 186.5 $ 56.4 $ (49.1) Dividends allocated to participating securities (0.3) (0.4) (0.1) Earnings (loss) available for common stockholders used in calculation of basic earnings (loss) per common share $ 186.2 $ 56.0 $ (49.2) Weighted average number of common shares outstanding, basic 49.7 48.8 48.5 Basic earnings (loss) per common share $ 3.75 $ 1.15 $ (1.01) Net income (loss) $ 186.5 $ 56.4 $ (49.1) Dividends allocated to participating securities (0.3) (0.4) (0.1) Earnings (loss) available for common stockholders used in calculation of diluted earnings (loss) per common share $ 186.2 $ 56.0 $ (49.2) Weighted average number of common shares outstanding, basic 49.7 48.8 48.5 Effect of shares issuable under share-based compensation plans 0.6 0.4 — Weighted average number of common shares outstanding, diluted 50.3 49.2 48.5 Diluted earnings (loss) per common share $ 3.70 $ 1.14 $ (1.01)
Schedule of Awards Issued Under Share-Based Compensation Plans Excluded from the Calculations of Diluted Earnings per Share	The following awards issued under share-based compensation plans were excluded from the calculations of diluted earnings per share above because their effects were anti-dilutive: Years Ended June 30, (in millions) 2024 2023 2022 Stock options — 0.7 1.9

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following components at June 30, 2024 and 2023: June 30, ($ in millions) 2024 2023 Raw materials and supplies $ 164.0 $ 157.7 Work in process 430.5 370.1 Finished and purchased products 140.9 111.9 Total inventories $ 735.4 $ 639.7

Property, Plant, Equipment an_2

Property, Plant, Equipment and Software, net (Tables)	12 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment, Net	Property, plant, equipment and software, net consisted of the following components at June 30, 2024 and 2023: June 30, ($ in millions) 2024 2023 Land $ 40.6 $ 40.0 Buildings and building equipment 562.7 555.5 Machinery and equipment 2,454.4 2,391.1 Capitalized software 225.3 220.5 Construction in progress 68.2 92.7 Total at cost 3,351.2 3,299.8 Less: accumulated depreciation and amortization 2,016.0 1,916.0 Total property, plant, equipment and software, net $ 1,335.2 $ 1,383.8 The estimated useful lives of depreciable assets are as follows: Asset Category Useful Life Buildings and building equipment 10 – 45 Machinery and equipment 3 – 30 Capitalized software 3 – 15

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	12 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill by Reportable Segment	The changes in the carrying amount of goodwill by reportable segment for fiscal years 2024 and 2023 were as follows: June 30, ($ in millions) 2022 2023 Impairment 2024 Goodwill $ 376.0 $ 376.0 $ — $ 376.0 Accumulated impairment losses (134.6) (134.6) (14.1) (148.7) Total goodwill $ 241.4 $ 241.4 $ (14.1) $ 227.3 Specialty Alloys Operations $ 195.5 $ 195.5 $ — $ 195.5 Performance Engineered Products 45.9 45.9 (14.1) 31.8 Total goodwill $ 241.4 $ 241.4 $ (14.1) $ 227.3
Schedule of Other Intangible Assets, Net	Other intangible assets, net consisted of the following as of June 30, 2024 and 2023: June 30, 2024 June 30, 2023 ($ in millions) Useful Life Gross Accumulated Net Gross Accumulated Net Trademarks and trade names 30 $ 29.9 $ (27.3) $ 2.6 $ 29.9 $ (26.3) $ 3.6 Customer relationships 15 70.8 (58.2) 12.6 70.8 (53.5) 17.3 Technology 11 — — — 3.6 (3.5) 0.1 Patents 15 — — — 11.4 (3.7) 7.7 Total other intangibles $ 100.7 $ (85.5) $ 15.2 $ 115.7 $ (87.0) $ 28.7

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Jun. 30, 2024
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following as of June 30, 2024 and 2023: June 30, ($ in millions) 2024 2023 Accrued compensation and benefits $ 121.6 $ 92.4 Accrued interest expense 18.5 18.5 Accrued postretirement benefits 15.4 16.1 Contract liabilities 12.3 14.0 Current portion of lease liabilities 8.8 9.1 Accrued taxes 4.2 4.9 Derivative financial instruments 3.6 6.4 Accrued pension liabilities 3.3 3.3 Accrued income taxes 1.0 2.5 Other 13.7 14.1 Total accrued liabilities $ 202.4 $ 181.3

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Outstanding	Long-term debt outstanding at June 30, 2024 and 2023 consisted of the following: June 30, ($ in millions) 2024 2023 Senior unsecured notes, 6.375% due July 2028 (face value of $400.0 million at June 30, 2024 and 2023) $ 397.2 $ 396.5 Senior unsecured notes, 7.625% due March 2030 (face value of $300.0 million at June 30, 2024 and 2023) 297.0 296.5 Total debt 694.2 693.0 Less: amounts due within one year — — Long-term debt, net of current portion $ 694.2 $ 693.0

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	12 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Reconciliation of Benefit Obligations, Plan Assets and Funded Status of the Plans	The following provides a reconciliation of benefit obligations, plan assets and funded status of the plans: Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2024 2023 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 848.2 $ 959.4 $ 182.3 $ 206.2 Service cost 8.2 8.1 1.5 1.8 Interest cost 43.7 46.2 10.2 10.0 Benefits paid (68.8) (77.5) (12.3) (13.5) Actuarial gain (2.3) (65.3) (8.9) (22.2) Plan settlements (147.2) (23.3) — — Other 0.9 0.6 — — Projected benefit obligation at end of year 682.7 848.2 172.8 182.3 Change in plan assets: Fair value of plan assets at beginning of year 654.8 759.4 120.4 114.7 Actual return 18.5 (7.4) 25.6 15.9 Benefits paid (68.8) (77.5) (12.3) (13.5) Contributions 14.5 3.6 2.6 3.3 Plan settlements (147.2) (23.3) — — Fair value of plan assets at end of year 471.8 654.8 136.3 120.4 Funded status of the plans $ (210.9) $ (193.4) $ (36.5) $ (61.9) Amounts recognized in the consolidated balance sheets: Accrued liabilities - current (3.3) (3.3) (15.4) (16.1) Accrued pension liabilities - noncurrent (207.6) (190.1) — — Accrued postretirement benefits - noncurrent — — (21.1) (45.8) Funded status of the plans $ (210.9) $ (193.4) $ (36.5) $ (61.9)
Schedule of Amounts Recognized in the Consolidated Balance Sheets	Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2024 2023 Amounts recognized in accumulated other comprehensive loss: Net actuarial loss (gain) $ 215.4 $ 260.3 $ (64.3) $ (39.7) Prior service cost (benefit) 4.2 5.8 1.5 (2.4) Total $ 219.6 $ 266.1 $ (62.8) $ (42.1) Other changes in plan assets and benefit obligations recognized in other comprehensive income consist of: Net actuarial loss (gain) $ 15.5 $ (12.5) $ (27.2) $ (31.2) Amortization of net (loss) gain (8.0) (9.5) 2.5 1.8 Amortization of prior service (cost) benefit (2.1) (2.1) 3.9 3.9 Settlement charge (51.9) — — — Total, before tax effect $ (46.5) $ (24.1) $ (20.8) $ (25.5) Additional information: Accumulated benefit obligation for all pension plans $ 678.5 $ 843.8 N/A N/A
Schedule of Amounts Recognized in the Accumulated Other Comprehensive Loss	The following is additional information related to plans with projected benefit obligations in excess of plan assets as of June 30, 2024 and 2023: Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2024 2023 Projected benefit obligation $ 682.7 $ 848.2 $ 172.8 $ 182.3 Fair value of plan assets $ 471.8 $ 654.8 $ 136.3 $ 120.4
Schedule of Projected Benefit Obligations in Excess of Plan Assets	The following additional information is for plans with accumulated benefit obligations in excess of plan assets as of June 30, 2024 and 2023: Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2024 2023 Accumulated benefit obligation $ 678.5 $ 843.8 $ 172.8 $ 182.3 Fair value of plan assets $ 471.8 $ 654.8 $ 136.3 $ 120.4
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets	The components of the net periodic pension expense (income) related to the Company's pension and other postretirement benefits for the years ended June 30, 2024, 2023 and 2022 are as follows: Pension Plans Other Postretirement Plans ($ in millions) 2024 2023 2022 2024 2023 2022 Service cost $ 8.2 $ 8.1 $ 8.6 $ 1.5 $ 1.8 $ 2.4 Interest cost 43.7 46.2 36.6 10.2 10.0 7.4 Expected return on plan assets (35.9) (45.3) (59.9) (7.3) (6.8) (8.2) Amortization of net loss (gain) 8.0 9.5 8.4 (2.5) (1.8) (0.8) Amortization of prior service cost (benefit) 2.1 2.1 2.1 (3.9) (3.9) (3.9) Settlement charge 51.9 — — — — — Net pension expense (income) $ 78.0 $ 20.6 $ (4.2) $ (2.0) $ (0.7) $ (3.1)
Schedule of Components of the Net Periodic Benefit Cost	Weighted-average assumptions used to determine benefit obligations at fiscal year end Pension Plans Other Postretirement Plans 2024 2023 2024 2023 Discount rate 5.98 % 5.85 % 6.03 % 5.87 % Rate of compensation increase 3.33 % 3.28 % N/A N/A
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost	Weighted-average assumptions used to determine net periodic benefit cost for the fiscal year Pension Plans Other Postretirement Plans 2024 2023 2022 2024 2023 2022 Discount rate 5.89 % 5.01 % 3.06 % 5.87 % 5.02 % 3.04 % Expected long-term rate of return on plan assets 6.50 % 6.25 % 6.22 % 6.50 % 6.25 % 6.25 % Long-term rate of compensation increase 3.28 % 3.28 % 3.29 % N/A N/A N/A
Schedule of Expected Health Care Cost Trend Rates	The following table shows the expected health care rate increase and the future rate and time at which it is expected to remain constant: June 30, 2024 2023 Assumed health care cost trend rate 6.50 % 6.25 % Rate to which the cost trend rate is assumed to decline and remain (the ultimate trend rate) 5.00 % 5.00 % Year that the rate reaches the ultimate trend rate 2031 2028
Schedule of Amounts in Other Comprehensive Loss that are Expected to be Recognized as Components of Net Periodic Benefit Cost	Amounts in other accumulated comprehensive loss (gain) that are expected to be recognized as components of net periodic benefit cost in the fiscal year ended June 30, 2025, are: ($ in millions) Pension Plans Other Postretirement Plans Total Amortization of prior service cost (benefit) $ 2.1 $ 1.2 $ 3.3 Amortization of net actuarial loss (gain) 7.3 (5.6) 1.7 Amortization of accumulated other comprehensive loss (gain) $ 9.4 $ (4.4) $ 5.0
Schedule of Weighted-Average Asset Allocations by Asset Category	The Company's U.S. pension plans' weighted-average asset allocations at June 30, 2024 and 2023, by asset category are as follows: 2024 2023 Equity securities 42.4 % 43.8 % Fixed income securities 31.6 36.5 Real assets securities 26.0 19.7 Total 100.0 % 100.0 %
Schedule of Fair Values of Pension Plan by Assets Category	The fair values of the Company's pension plan assets as of June 30, 2024 and 2023, by asset category and by the levels of inputs used to determine fair value were as follows: June 30, 2024 Fair Value ($ in millions) Level 1 Level 2 Net Asset Value Total Short-term investments $ 7.2 $ — $ — $ 7.2 Commingled trust funds — — 464.1 464.1 Mortgage/asset backed securities and other — 0.5 — 0.5 Fair value of plan assets at end of year $ 7.2 $ 0.5 $ 464.1 $ 471.8 June 30, 2023 Fair Value ($ in millions) Level 1 Level 2 Net Asset Value Total Short-term investments $ 6.7 $ — $ — $ 6.7 Commingled trust funds — — 646.8 646.8 Mortgage/asset backed securities and other — 1.3 — 1.3 Fair value of plan assets at end of year $ 6.7 $ 1.3 $ 646.8 $ 654.8
Schedule of Fair Values of Other Postretirement Benefit Plans by Asset Category	The fair values of the Company's other postretirement benefit plans as of June 30, 2024 and 2023, by asset category and by the level of inputs used to determine fair value, were as follows: June 30, 2024 Fair Value ($ in millions) Level 1 Level 2 Net Asset Value Total Commingled trust fund $ — $ — $ 129.7 $ 129.7 Short-term investments 6.6 — — 6.6 Fair value of plan assets at end of year $ 6.6 $ — $ 129.7 $ 136.3 June 30, 2023 Fair Value ($ in millions) Level 1 Level 2 Net Asset Value Total Commingled trust fund $ — $ — $ 110.1 $ 110.1 Short-term investments 10.3 — — 10.3 Fair value of plan assets at end of year $ 10.3 $ — $ 110.1 $ 120.4
Schedule of Estimated Future Benefit Payments	The benefit payments below, which reflect expected future service, as appropriate, are expected to be paid by fiscal year as follows: ($ in millions) Pension Other 2025 $ 63.4 $ 15.4 2026 $ 61.3 $ 15.4 2027 $ 60.3 $ 15.2 2028 $ 58.7 $ 15.0 2029 $ 57.3 $ 14.8 2030-2034 $ 264.9 $ 69.6

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Lease, Cost	The following table sets forth the components of the Company's lease cost for the fiscal years ended June 30, 2024, 2023 and 2022: Years Ended June 30, ($ in millions) 2024 2023 2022 Operating lease cost $ 11.0 $ 11.3 $ 10.9 Short-term lease cost 4.4 3.8 3.5 Variable lease cost 0.2 0.1 0.1 Sublease income (1.0) (1.2) (1.0) Total lease cost $ 14.6 $ 14.0 $ 13.5 Operating cash flow payments from operating leases $ 11.6 $ 12.3 $ 11.4 Noncash ROU assets obtained in exchange for lease obligations $ 4.3 $ 9.9 $ 16.5 The leases have a remaining term of one Years Ended June 30, 2024 2023 2022 Weighted-average remaining lease term - operating leases 7.4 years 8.0 years 8.5 years Weighted-average discount rate - operating leases 4.4 % 4.1 % 3.7 %
Assets and Liabilities Lessee	The following table sets forth the Company's ROU assets and lease liabilities at June 30, 2024 and June 30, 2023: June 30, ($ in millions) 2024 2023 Operating lease assets: Other assets $ 39.0 $ 43.9 Operating lease liabilities: Accrued liabilities $ 8.8 $ 9.1 Other liabilities 38.4 43.6 Total operating lease liabilities $ 47.2 $ 52.7
Schedule of Minimum Lease Payments for Operating Leases	Minimum lease payments by fiscal year for operating leases expiring subsequent to June 30, 2024, are as follows: ($ in millions) Lease Payments 2025 $ 10.4 2026 8.1 2027 7.6 2028 6.4 2029 4.9 Thereafter 17.7 Total future minimum lease payments 55.1 Less: imputed interest 7.9 Total $ 47.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis	The following tables present the Company's assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy: June 30, 2024 Fair Value Measurements ($ in millions) Level 2 Assets: Derivative financial instruments $ — Liabilities: Derivative financial instruments $ 5.8 June 30, 2023 Fair Value Measurements ($ in millions) Level 2 Assets: Derivative financial instruments $ 3.7 Liabilities: Derivative financial instruments $ 6.8
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments Not Recorded at Fair Value in the Financial Statements	The carrying amounts and estimated fair values of the Company's financial instruments not recorded at fair value in the financial statements were as follows: June 30, 2024 June 30, 2023 ($ in millions) Carrying Fair Carrying Fair Long-term debt $ 694.2 $ 709.1 $ 693.0 $ 698.1 Company-owned life insurance $ 31.8 $ 31.8 $ 26.2 $ 26.2

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Weighted-Average Assumptions of Fair Value of Stock Options	The fair value of stock options awarded in fiscal years 2024, 2023 and 2022 was estimated on the date of each grant using a Black-Scholes option pricing model with the following weighted-average assumptions: Years Ended June 30, 2024 2023 2022 Expected volatility 55.4 % 54.0 % 51.6 % Dividend yield 1.1 % 2.2 % 2.4 % Risk-free interest rate 4.6 % 4.0 % 1.1 % Expected term (in years) 5.0 5.0 5.0
Summary of Stock Option Activity	Number of Weighted Weighted Aggregate Outstanding at June 30, 2021 2,075,753 $ 43.47 Granted 36,444 $ 34.43 Exercised (891) $ 39.70 Forfeited (69,656) $ 40.52 Expired (79,061) $ 54.49 Outstanding at June 30, 2022 1,962,589 $ 42.96 Granted 27,956 $ 36.24 Exercised (117,621) $ 42.39 Withheld (1,136) $ 44.90 Forfeited (2,097) $ 42.16 Expired (61,517) $ 49.67 Outstanding at June 30, 2023 1,808,174 $ 42.67 Granted 11,014 $ 70.64 Exercised (835,532) $ 45.06 Withheld (369,042) $ 39.81 Forfeited (1,028) $ 70.64 Outstanding at June 30, 2024 613,586 $ 41.61 3.6 years $ 41.7 Exercisable at June 30, 2024 603,600 $ 41.13 3.5 years $ 41.3
Summary of Outstanding and Exercisable Options by Exercise Price Range	Exercise Price Number Outstanding at June 30, 2024 Weighted Weighted Number Exercisable at June 30, 2024 Weighted $18.26 - $20.00 50,142 6.3 $ 18.26 50,142 $ 18.26 $20.01 - $30.00 — 0.0 $ — — $ — $30.01 - $40.00 160,379 3.6 $ 37.13 160,379 $ 37.13 $40.01 - $50.00 311,969 3.0 $ 42.58 311,969 $ 42.58 $50.01 - $60.00 81,110 3.1 $ 57.59 81,110 $ 57.59 $60.01 - $70.64 9,986 9.3 $ 70.64 — $ — 613,586 $ 41.61 603,600 $ 41.13
Summary of Nonvested Stock Awards Activity	Number of Awards Weighted Average Grant Date Fair Value Restricted Award Balance at June 30, 2021 496,325 $ 29.44 Time-based granted 281,533 $ 35.76 Vested (216,656) $ 32.71 Forfeited (45,538) $ 32.35 Restricted Award Balance at June 30, 2022 515,664 $ 31.27 Time-based granted 285,268 $ 39.01 Vested (246,306) $ 31.37 Forfeited (31,880) $ 35.23 Restricted Award Balance at June 30, 2023 522,746 $ 35.18 Time-based granted 191,909 $ 61.42 Vested (273,296) $ 32.67 Forfeited (40,262) $ 45.19 Restricted Award Balance at June 30, 2024 401,097 $ 48.44
Summary of Director Stock Units Activity	Number of Units Weighted Average Grant Date Fair Value Outstanding at June 30, 2021 353,365 $ 35.54 Granted 37,234 $ 33.62 Distributed (81,136) $ 33.28 Dividend equivalents 7,770 $ — Outstanding at June 30, 2022 317,233 $ 31.89 Granted 38,433 $ 34.93 Distributed (54,057) $ 35.85 Dividend equivalents 5,962 $ — Outstanding at June 30, 2023 307,571 $ 30.75 Granted 21,590 $ 71.01 Distributed (11,653) $ 36.14 Forfeited (1,912) $ 70.64 Dividend equivalents 3,223 $ — Outstanding at June 30, 2024 318,819 $ 33.85

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value and Location of Outstanding Derivative Contracts Recorded in Consolidated Balance Sheets	The fair value and location of outstanding derivative contracts recorded in the accompanying consolidated balance sheets were as follows as of June 30, 2024 and 2023: June 30, 2024 Foreign Currency Contracts Commodity Contracts Total Derivatives Asset Derivatives: Other current assets $ — $ — $ — Other assets — — — Total asset derivatives $ — $ — $ — Liability Derivatives: Accrued liabilities $ — $ 3.6 $ 3.6 Other liabilities 1.4 0.8 2.2 Total liability derivatives $ 1.4 $ 4.4 $ 5.8 June 30, 2023 Foreign Currency Contracts Commodity Contracts Total Derivatives Asset Derivatives: Other current assets $ 2.1 $ 1.6 $ 3.7 Other assets — — — Total asset derivatives $ 2.1 $ 1.6 $ 3.7 Liability Derivatives: Accrued liabilities $ — $ 6.4 $ 6.4 Other liabilities — 0.4 0.4 Total liability derivatives $ — $ 6.8 $ 6.8
Summary of the Gains (Losses) Related to Cash Flow Hedges	The following is a summary of the (losses) gains related to cash flow hedges recognized during the fiscal years ended June 30, 2024, 2023 and 2022: Amount of (Loss) Gain Recognized in AOCI on Derivatives ($ in millions) 2024 2023 2022 Derivatives in Cash Flow Hedging Relationship: Commodity contracts $ (9.6) $ (8.8) $ 26.8 Total $ (9.6) $ (8.8) $ 26.8 Amount of (Loss) Gain Reclassified from AOCI into Income ($ in millions) Location of (Loss) Gain 2024 2023 2022 Derivatives in Cash Flow Hedging Relationship: Commodity contracts Cost of sales $ (11.0) $ 7.7 $ 28.3 Forward interest rate swaps Interest expense — — 0.4 Total $ (11.0) $ 7.7 $ 28.7 The following is a summary of total amounts presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded during the fiscal years ended June 30, 2024 and 2023: Year Ended Year Ended ($ in millions) Cost of Sales Cost of Sales Total amounts presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded $ 2,175.4 $ 2,213.0 (Loss) Gain on Derivatives in Cash Flow Hedging Relationship: Commodity contracts Amount of (loss) gain reclassified from AOCI to income (11.0) 7.7 Total (loss) gain $ (11.0) $ 7.7
Schedule of Changes in AOCI Associated with Derivative Hedging Activities	The changes in AOCI associated with derivative hedging activities during the fiscal years ended June 30, 2024, 2023 and 2022 were as follows: Years Ended June 30, ($ in millions) 2024 2023 2022 Balance, beginning $ (7.0) $ 5.5 $ 6.9 Current period changes in fair value, net of tax (7.3) (6.7) 20.4 Reclassification to earnings, net of tax 8.4 (5.8) (21.8) Balance, ending $ (5.9) $ (7.0) $ 5.5

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Before Income Taxes for the Company's Domestic and Foreign Operations	Income (loss) before income taxes for the Company's domestic and foreign operations was as follows: Years Ended June 30, ($ in millions) 2024 2023 2022 Domestic $ 224.1 $ 51.2 $ (74.0) Foreign (12.5) 21.3 10.9 Income (loss) before income taxes $ 211.6 $ 72.5 $ (63.1)
Schedule of Provision (Benefit) for Income Taxes from Continuing Operations	The expense (benefit) for income taxes from continuing operations consisted of the following: Years Ended June 30, ($ in millions) 2024 2023 2022 Current: Federal $ 30.4 $ 8.6 $ (14.7) State 4.2 2.6 0.1 Foreign 3.8 5.3 3.7 Total current 38.4 16.5 (10.9) Deferred: Federal (10.1) (0.9) (1.0) State (2.7) (0.5) (2.7) Foreign (0.5) 1.0 0.6 Total deferred (13.3) (0.4) (3.1) Total income tax expense (benefit) $ 25.1 $ 16.1 $ (14.0)
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 income (loss)) 2024 2023 2022 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal tax benefit 2.7 2.8 3.1 Foreign tax rate differential (0.3) 0.9 (1.0) Research and development tax credit (1.6) (3.5) 4.4 Foreign derived intangible income deduction (1.8) — — Adjustments of prior years' income taxes — 8.7 (7.4) Non-deductible goodwill impairment 1.4 — — Tax benefit related to closure of Additive operations (8.7) — — Non-taxable income (0.5) (0.8) (1.0) Non-deductible expenses 6.4 (0.1) (0.7) Non-deductible compensation 1.6 1.4 (1.1) Share-based compensation (3.2) — (0.7) Changes in valuation allowances (4.7) (7.4) 6.0 Law changes — 0.4 — Interest on prior tax positions (0.4) (1.3) 0.2 Other, net — 0.1 (0.6) Effective income tax rate 11.9 % 22.2 % 22.2 %
Summary of Components of Deferred Tax Assets and Liabilities	The significant components of deferred tax assets and liabilities that are recorded in the consolidated balance sheets are summarized in the table below: June 30, ($ in millions) 2024 2023 Deferred tax assets: Pensions $ 33.1 $ 39.8 Postretirement provisions 14.4 20.0 Non-equity compensation 9.6 16.0 Net operating loss carryforwards 8.5 22.5 Tax credit carryforwards 2.0 1.2 Operating lease liabilities 8.9 10.0 Other 20.1 22.3 Gross deferred tax assets 96.6 131.8 Valuation allowances (2.4) (13.6) Total deferred tax assets 94.2 118.2 Deferred tax liabilities: Depreciation 219.6 237.6 Intangible assets 3.2 5.8 Inventories 28.2 27.4 Operating lease right-of-use assets 7.0 8.0 Other 2.8 3.1 Total deferred tax liabilities 260.8 281.9 Deferred tax liabilities, net $ 166.6 $ 163.7

Other Expense (Income), Net (Ta

Other Expense (Income), Net (Tables)	12 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other Expense (Income), Net	Other expense (income) , net consists of the following: Years Ended June 30, ($ in millions) 2024 2023 2022 Unrealized (gains) losses on company-owned life insurance contracts and investments held in rabbi trusts $ (5.8) $ (3.3) $ 4.8 Interest income (1.8) (0.6) (0.1) Foreign exchange losses 1.8 0.4 1.3 Pension earnings, interest and deferrals 14.4 10.0 (18.3) Pension settlement charge 51.9 — — Other — — (0.4) Total other expense (income), net $ 60.5 $ 6.5 $ (12.7)

Segment Information, Geograph_2

Segment Information, Geographic and Product Data (Tables)	12 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Results of Operation, Depreciation and Amortization, Capital Expenditures and Total Assets by Reportable Segments	Net Sales Years Ended June 30, ($ in millions) 2024 2023 2022 Specialty Alloys Operations $ 2,443.8 $ 2,213.6 $ 1,565.6 Performance Engineered Products 411.0 433.7 344.5 Intersegment (95.1) (97.0) (73.8) Consolidated net sales $ 2,759.7 $ 2,550.3 $ 1,836.3 Operating Income (Loss) Years Ended June 30, ($ in millions) 2024 2023 2022 Specialty Alloys Operations $ 408.5 $ 179.1 $ 9.6 Performance Engineered Products 36.0 31.8 18.1 Corporate costs (including special items) (123.0) (75.5) (52.8) Intersegment 1.6 (2.3) 0.2 Consolidated operating income (loss) $ 323.1 $ 133.1 $ (24.9) Depreciation and Amortization Years Ended June 30, ($ in millions) 2024 2023 2022 Specialty Alloys Operations $ 113.3 $ 110.0 $ 110.1 Performance Engineered Products 16.3 15.6 15.8 Corporate 5.0 5.4 5.5 Consolidated depreciation and amortization $ 134.6 $ 131.0 $ 131.4 Capital Expenditures Years Ended June 30, ($ in millions) 2024 2023 2022 Specialty Alloys Operations $ 80.0 $ 70.2 $ 77.5 Performance Engineered Products 13.2 10.1 10.8 Corporate 3.4 2.0 3.0 Consolidated capital expenditures $ 96.6 $ 82.3 $ 91.3 Total Assets June 30, ($ in millions) 2024 2023 Specialty Alloys Operations $ 2,542.2 $ 2,461.2 Performance Engineered Products 431.5 451.6 Corporate 334.8 159.0 Intersegment (16.8) (17.9) Consolidated total assets $ 3,291.7 $ 3,053.9
Schedule of Net Sales by Geographic Segment	Geographic Location Net Sales (a) Years Ended June 30, ($ in millions) 2024 2023 2022 United States $ 1,623.0 $ 1,556.2 $ 1,179.9 Europe 503.8 437.3 253.5 Asia Pacific 391.3 319.5 233.9 Mexico 120.1 124.0 89.4 Canada 70.1 60.1 41.5 Other 51.4 53.2 38.1 Consolidated net sales $ 2,759.7 $ 2,550.3 $ 1,836.3 (a) Net sales are attributed to geographic region based on the location of the customer.
Schedule of Long-Lived Assets by Geographic Segment	Long-lived Assets June 30, ($ in millions) 2024 2023 United States $ 1,330.0 $ 1,368.1 Europe 3.0 13.1 Mexico 1.3 1.6 Asia Pacific 0.5 0.5 Canada 0.4 0.5 Consolidated long-lived assets $ 1,335.2 $ 1,383.8

Reclassifications from Accumu_2

Reclassifications from Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in AOCI by Component, Net of Tax	The changes in AOCI by component, net of tax, for the years ended June 30, 2024 and 2023 were as follows: ($ in millions) (a) Cash flow hedging items Pension and other postretirement benefit plan items Foreign currency items Total Balances at June 30, 2023 $ (7.0) $ (95.5) $ (40.5) $ (143.0) Other comprehensive (loss) income before reclassifications (7.3) 8.8 (3.2) (1.7) Amounts reclassified from AOCI (b) 8.4 42.4 — 50.8 Net other comprehensive income (loss) 1.1 51.2 (3.2) 49.1 Balances at June 30, 2024 $ (5.9) $ (44.3) $ (43.7) $ (93.9) ($ in millions) (a) Cash flow hedging items Pension and other postretirement benefit plan items Foreign currency items Total Balances at June 30, 2022 $ 5.5 $ (132.9) $ (46.1) $ (173.5) Other comprehensive (loss) income before reclassifications (6.7) 32.9 5.6 31.8 Amounts reclassified from AOCI (b) (5.8) 4.5 — (1.3) Net other comprehensive (loss) income (12.5) 37.4 5.6 30.5 Balances at June 30, 2023 $ (7.0) $ (95.5) $ (40.5) $ (143.0) (a) All amounts are net of tax. Amounts in parentheses indicate debits. (b) See separate table below for further details.
Schedule of Amounts Reclassified from AOCI	The following is a summary of amounts reclassified from AOCI for the years ended June 30, 2024 and 2023: Amount Reclassified from AOCI Details about AOCI Components Years Ended June 30, ($ in millions) (a) Location of (loss) gain 2024 2023 Cash flow hedging items: Commodity contracts Cost of sales $ (11.0) $ 7.7 Total before tax (11.0) 7.7 Tax benefit (expense) 2.6 (1.9) Net of tax $ (8.4) $ 5.8 Amount Reclassified from AOCI Details about AOCI Components Years Ended June 30, ($ in millions) (a) Location of (loss) gain 2024 2023 Amortization of pension and other postretirement benefit plan items: Net actuarial loss $ (5.5) $ (7.7) Prior service benefit 1.8 1.8 Settlement charge (51.9) — Total before tax (b) (55.6) (5.9) Tax benefit (b) 13.2 1.4 Net of tax (b) $ (42.4) $ (4.5) (a) Amounts in parentheses indicate debits to income/loss. (b) These AOCI components are included in the computation of net periodic benefit cost (see Note 11 for additional details).

Supplemental Data (Tables)

Supplemental Data (Tables)	12 Months Ended
	Jun. 30, 2024
Supplemental Data
Additional Supplemental Disclosures	The following are additional required disclosures and other material items: Years Ended June 30, ($ in millions) 2024 2023 2022 Cost Data: Repairs and maintenance costs $ 126.7 $ 101.4 $ 74.6 Cash Flow Data: Noncash investing and financing activities: Noncash purchases of property, plant, equipment and software $ 10.6 $ 13.6 $ 7.6 Cash paid (received) during the year for: Interest payments, net $ 49.2 $ 50.9 $ 40.5 Income tax payments (refunds), net $ 62.8 $ 9.9 $ (46.1)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) facility	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Summary of significant accounting policies
Research and development expenditures	$ 25.6	$ 24.4	$ 20.4
Inventory accounted under method other than LIFO	$ 152.2	$ 133.2
Number of former operating facility site that the liability for future costs is discounted to present value (facility) | facility	1
Liability for future costs discount amortization period	20 years
Environmental expenditures, discount rate	6%	5%
Environmental Loss Contingency, Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	true	true
Environmental expenditures, liability	$ 10.6	$ 10.1
Minimum | Capitalized software
Summary of significant accounting policies
Estimated useful life	3 years
Minimum | Intangible assets
Summary of significant accounting policies
Estimated useful life	15 years
Maximum | Capitalized software
Summary of significant accounting policies
Estimated useful life	15 years
Maximum | Intangible assets
Summary of significant accounting policies
Estimated useful life	30 years

Restructuring and Asset Impai_3

Restructuring and Asset Impairment Charges - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring and asset impairment charges	$ 16.9	$ 0	$ 0
Impairment of intangible assets	$ 7
Impairment Of Intangible Asset Finite Lived, Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag	true
Restructuring charges excluding noncash impairments	$ 1.1	$ 0
Performance Engineered Products | Business Exit, Oil And Gas
Restructuring Cost and Reserve [Line Items]
Tangible asset impairment charges	15.8
Impairment of intangible assets	7
Performance Engineered Products | Business Exit, Oil And Gas | Property, Plant and Equipment
Restructuring Cost and Reserve [Line Items]
Tangible asset impairment charges	$ 8.8

Restructuring and Asset Impai_4

Restructuring and Asset Impairment Charges - Activity and Reserve Balance for Restructuring Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Reserve balance beginning of year	$ 0	$ 0
Restructuring charges excluding noncash impairments	1.1	0
Cash payments	0	0
Reserve balance end of year	$ 1.1	$ 0

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Payment terms	30 days
Contract liabilities | $	$ 12.3	$ 14
Number of reportable segments | segment	2

Revenue - Summary of Revenue by

Revenue - Summary of Revenue by End-use Markets (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 2,759.7	$ 2,550.3	$ 1,836.3
Operating | Specialty Alloys Operations
Disaggregation of Revenue [Line Items]
Net sales	2,443.8	2,213.6	1,565.6
Operating | Performance Engineered Products
Disaggregation of Revenue [Line Items]
Net sales	411	433.7	344.5
Intersegment
Disaggregation of Revenue [Line Items]
Net sales	(95.1)	(97)	(73.8)
Aerospace and Defense
Disaggregation of Revenue [Line Items]
Net sales	1,538.8	1,290.7	790.2
Aerospace and Defense | Operating | Specialty Alloys Operations
Disaggregation of Revenue [Line Items]
Net sales	1,449.9	1,214.6	739.3
Aerospace and Defense | Operating | Performance Engineered Products
Disaggregation of Revenue [Line Items]
Net sales	111.1	108	76.7
Aerospace and Defense | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	(22.2)	(31.9)	(25.8)
Medical
Disaggregation of Revenue [Line Items]
Net sales	375.6	301.6	212.3
Medical | Operating | Specialty Alloys Operations
Disaggregation of Revenue [Line Items]
Net sales	282.4	213.8	155.1
Medical | Operating | Performance Engineered Products
Disaggregation of Revenue [Line Items]
Net sales	144.9	123.4	79.9
Medical | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	(51.7)	(35.6)	(22.7)
Transportation
Disaggregation of Revenue [Line Items]
Net sales	149.1	185	178.3
Transportation | Operating | Specialty Alloys Operations
Disaggregation of Revenue [Line Items]
Net sales	141.3	178.5	173.4
Transportation | Operating | Performance Engineered Products
Disaggregation of Revenue [Line Items]
Net sales	8.2	7.5	5.2
Transportation | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	(0.4)	(1)	(0.3)
Energy
Disaggregation of Revenue [Line Items]
Net sales	185.8	163.3	113
Energy | Operating | Specialty Alloys Operations
Disaggregation of Revenue [Line Items]
Net sales	177.2	151.6	104.8
Energy | Operating | Performance Engineered Products
Disaggregation of Revenue [Line Items]
Net sales	8.6	11.6	8.1
Energy | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	0	0.1	0.1
Industrial and Consumer
Disaggregation of Revenue [Line Items]
Net sales	415.3	487.2	417.2
Industrial and Consumer | Operating | Specialty Alloys Operations
Disaggregation of Revenue [Line Items]
Net sales	393	455.1	393
Industrial and Consumer | Operating | Performance Engineered Products
Disaggregation of Revenue [Line Items]
Net sales	40.3	60.6	49.1
Industrial and Consumer | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	(18)	(28.5)	(24.9)
Distribution
Disaggregation of Revenue [Line Items]
Net sales	95.1	122.5	125.3
Distribution | Operating | Specialty Alloys Operations
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Distribution | Operating | Performance Engineered Products
Disaggregation of Revenue [Line Items]
Net sales	97.9	122.6	125.5
Distribution | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	$ (2.8)	$ (0.1)	$ (0.2)

Revenue - Summary of Revenue _2

Revenue - Summary of Revenue by Geography (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 2,759.7	$ 2,550.3	$ 1,836.3
Intersegment
Disaggregation of Revenue [Line Items]
Net sales	(95.1)	(97)	(73.8)
Specialty Alloys Operations | Operating
Disaggregation of Revenue [Line Items]
Net sales	2,443.8	2,213.6	1,565.6
Performance Engineered Products | Operating
Disaggregation of Revenue [Line Items]
Net sales	411	433.7	344.5
United States
Disaggregation of Revenue [Line Items]
Net sales	1,623	1,556.2	1,179.9
United States | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	(29.9)	(36.8)	(29.8)
United States | Specialty Alloys Operations | Operating
Disaggregation of Revenue [Line Items]
Net sales	1,418.5	1,350.7	1,018.6
United States | Performance Engineered Products | Operating
Disaggregation of Revenue [Line Items]
Net sales	234.4	242.3	191.1
Europe
Disaggregation of Revenue [Line Items]
Net sales	503.8	437.3	253.5
Europe | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	(20.9)	(17.7)	(13)
Europe | Specialty Alloys Operations | Operating
Disaggregation of Revenue [Line Items]
Net sales	449.2	373.6	208.5
Europe | Performance Engineered Products | Operating
Disaggregation of Revenue [Line Items]
Net sales	75.5	81.4	58
Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales	391.3	319.5	233.9
Asia Pacific | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	(44.3)	(42.4)	(31)
Asia Pacific | Specialty Alloys Operations | Operating
Disaggregation of Revenue [Line Items]
Net sales	389.4	317.4	231.8
Asia Pacific | Performance Engineered Products | Operating
Disaggregation of Revenue [Line Items]
Net sales	46.2	44.5	33.1
Mexico
Disaggregation of Revenue [Line Items]
Net sales	120.1	124	89.4
Mexico | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Mexico | Specialty Alloys Operations | Operating
Disaggregation of Revenue [Line Items]
Net sales	86	83.7	44.2
Mexico | Performance Engineered Products | Operating
Disaggregation of Revenue [Line Items]
Net sales	34.1	40.3	45.2
Canada
Disaggregation of Revenue [Line Items]
Net sales	70.1	60.1	41.5
Canada | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Canada | Specialty Alloys Operations | Operating
Disaggregation of Revenue [Line Items]
Net sales	56.9	44.1	29.6
Canada | Performance Engineered Products | Operating
Disaggregation of Revenue [Line Items]
Net sales	13.2	16	11.9
Other
Disaggregation of Revenue [Line Items]
Net sales	51.4	53.2	38.1
Other | Intersegment
Disaggregation of Revenue [Line Items]
Net sales	0	(0.1)	0
Other | Specialty Alloys Operations | Operating
Disaggregation of Revenue [Line Items]
Net sales	43.8	44.1	32.9
Other | Performance Engineered Products | Operating
Disaggregation of Revenue [Line Items]
Net sales	$ 7.6	$ 9.2	$ 5.2

Earnings (Loss) per Common Sh_3

Earnings (Loss) per Common Share - Schedule of Calculations of Basic and Diluted Loss from Continuing Operations per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 186.5	$ 56.4	$ (49.1)
Dividends allocated to participating securities	(0.3)	(0.4)	(0.1)
Earnings (loss) available for common stockholders used in calculation of basic earnings (loss) per common share	$ 186.2	$ 56	$ (49.2)
Weighted average number of common shares outstanding, basic (in shares)	49.7	48.8	48.5
Basic earnings (loss) per common share (in dollars per share)	$ 3.75	$ 1.15	$ (1.01)
Earnings (loss) available for common stockholders used in calculation of diluted earnings (loss) per common share	$ 186.2	$ 56	$ (49.2)
Effect of shares issuable under share-based compensation plans (in shares)	0.6	0.4	0
Weighted average number of common shares outstanding, diluted (in shares)	50.3	49.2	48.5
Diluted earnings (loss) per common share (in dollars per share)	$ 3.70	$ 1.14	$ (1.01)

Earnings (Loss) per Common Sh_4

Earnings (Loss) per Common Share - Schedule of Awards Issued Under Share-based Compensation Plans Excluded from the Calculations of Diluted Earnings per Share (Details) - shares shares in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Stock options
Awards issued under share-based compensation plans that were excluded from calculations of diluted earnings per share because their effects were anti-dilutive
Stock options (in shares)	0	0.7	1.9

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 164	$ 157.7
Work in process	430.5	370.1
Finished and purchased products	140.9	111.9
Total inventories	$ 735.4	$ 639.7

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventory LIFO reserve	$ 371	$ 517.2
Current cost of LIFO inventory	$ 954.2	$ 1,023.7

Property, Plant, Equipment an_3

Property, Plant, Equipment and Software, net - Summary of Property, Plant and Equipment, net (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Total at cost	$ 3,351.2	$ 3,299.8
Less: accumulated depreciation and amortization	2,016	1,916
Total property, plant, and equipment	1,335.2	1,383.8
Land
Property, Plant and Equipment [Line Items]
Total at cost	40.6	40
Buildings and building equipment
Property, Plant and Equipment [Line Items]
Total at cost	562.7	555.5
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total at cost	2,454.4	2,391.1
Capitalized software
Property, Plant and Equipment [Line Items]
Total at cost	225.3	220.5
Construction in progress
Property, Plant and Equipment [Line Items]
Total at cost	$ 68.2	$ 92.7

Property, Plant, Equipment an_4

Property, Plant, Equipment and Software, net - Schedule of Estimated Useful Lives of Depreciable Assets (Details)	Jun. 30, 2024
Buildings and building equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (in Years)	10 years
Buildings and building equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (in Years)	45 years
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (in Years)	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (in Years)	30 years
Capitalized software | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (in Years)	3 years
Capitalized software | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (in Years)	15 years

Property, Plant, Equipment an_5

Property, Plant, Equipment and Software, net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 111.8	$ 107.9	$ 107.6
Capitalized software amortization expense	$ 16.3	$ 16.3	$ 16.9

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) reportingUnit	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 01, 2024
Goodwill [Line Items]
Number of reporting units | reportingUnit	2
Goodwill	$ 227.3	$ 241.4	$ 241.4
Goodwill impairment charge	14.1	0	0
Accumulated impairment losses	148.7	134.6	134.6
Amortization expense	6.5	6.8	6.9
Estimated annual amortization expense for 2025	5.7
Estimated annual amortization expense for 2026	5.7
Estimated annual amortization expense for 2027	3.8
Estimated annual amortization expense for 2028	0
Impairment of intangible assets	$ 7
Special Alloy Operations Reporting Unit
Goodwill [Line Items]
Percentage of goodwill	86%
Reporting unit, percentage of fair value in excess of carrying amount				203%
Reporting unit, percentage of fair value in excess of carrying value if fair value reduced by one half percent				196%
Measurement Input, Terminal Growth Rate | Special Alloy Operations Reporting Unit
Goodwill [Line Items]
Reporting unit, long term growth rate reduction necessary to approximate net Book value				2.50%
Valuation Technique, Discounted Cash Flow | Measurement Input, Weighted Average Cost of Capital | Special Alloy Operations Reporting Unit
Goodwill [Line Items]
Goodwill, measurement input				9.50%
Valuation Technique, Discounted Cash Flow | Measurement Input, Terminal Growth Rate | Special Alloy Operations Reporting Unit
Goodwill [Line Items]
Goodwill, measurement input				0.50%
Performance Engineered Products
Goodwill [Line Items]
Goodwill	$ 31.8	$ 45.9	$ 45.9
Goodwill impairment charge	14.1
Performance Engineered Products | Dynamet
Goodwill [Line Items]
Goodwill	$ 31.8
Reporting unit, percentage of fair value in excess of carrying amount				144%
Reporting unit, percentage of fair value in excess of carrying value if fair value reduced by one half percent				140%
Performance Engineered Products | Measurement Input, Terminal Growth Rate | Dynamet
Goodwill [Line Items]
Reporting unit, long term growth rate reduction necessary to approximate net Book value				2.50%
Performance Engineered Products | Valuation Technique, Discounted Cash Flow | Measurement Input, Weighted Average Cost of Capital | Dynamet
Goodwill [Line Items]
Goodwill, measurement input				11%
Performance Engineered Products | Valuation Technique, Discounted Cash Flow | Measurement Input, Terminal Growth Rate | Dynamet
Goodwill [Line Items]
Goodwill, measurement input				0.50%

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Schedule of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Changes in the carrying amount of goodwill by reportable segment
Goodwill gross, beginning balance	$ 376	$ 376
Accumulated impairment losses, beginning balance	(134.6)	(134.6)
Total goodwill net, beginning balance	241.4	241.4
Impairment	(14.1)	0	$ 0
Goodwill gross, ending balance	376	376	376
Accumulated impairment losses, ending balance	(148.7)	(134.6)	(134.6)
Total goodwill net, ending balance	227.3	241.4	241.4
Specialty Alloys Operations
Changes in the carrying amount of goodwill by reportable segment
Total goodwill net, beginning balance	195.5	195.5
Impairment	0
Total goodwill net, ending balance	195.5	195.5	195.5
Performance Engineered Products
Changes in the carrying amount of goodwill by reportable segment
Total goodwill net, beginning balance	45.9	45.9
Impairment	(14.1)
Total goodwill net, ending balance	$ 31.8	$ 45.9	$ 45.9

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Schedule of Other Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Other intangible assets
Gross Carrying Amount	$ 100.7	$ 115.7
Accumulated Amortization	(85.5)	(87)
Net  Carrying Amount	$ 15.2	28.7
Trademarks and trade names
Other intangible assets
Useful Life (in Years)	30 years
Gross Carrying Amount	$ 29.9	29.9
Accumulated Amortization	(27.3)	(26.3)
Net  Carrying Amount	$ 2.6	3.6
Customer relationships
Other intangible assets
Useful Life (in Years)	15 years
Gross Carrying Amount	$ 70.8	70.8
Accumulated Amortization	(58.2)	(53.5)
Net  Carrying Amount	$ 12.6	17.3
Technology
Other intangible assets
Useful Life (in Years)	11 years
Gross Carrying Amount	$ 0	3.6
Accumulated Amortization	0	(3.5)
Net  Carrying Amount	$ 0	0.1
Patents
Other intangible assets
Useful Life (in Years)	15 years
Gross Carrying Amount	$ 0	11.4
Accumulated Amortization	0	(3.7)
Net  Carrying Amount	$ 0	$ 7.7

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Accrued Liabilities, Current [Abstract]
Accrued compensation and benefits	$ 121.6	$ 92.4
Accrued interest expense	18.5	18.5
Accrued postretirement benefits	15.4	16.1
Contract liabilities	12.3	14
Current portion of lease liabilities	8.8	9.1
Accrued taxes	4.2	4.9
Derivative financial instruments	3.6	6.4
Accrued pension liabilities	3.3	3.3
Accrued income taxes	1	2.5
Other	13.7	14.1
Total accrued liabilities	$ 202.4	$ 181.3

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Apr. 14, 2023 USD ($)
Long-term debt outstanding
Aggregate maturities of long-term debt, 2025	$ 0
Aggregate maturities of long-term debt, 2026	0
Aggregate maturities of long-term debt, 2027	0
Aggregate maturities of long-term debt, 2028	0
Aggregate maturities of long-term debt, 2029	400
Interest costs	52.6	$ 55.6	$ 45.7
Interest costs, capitalized	1.6	1.5	0.8
Debt extinguishment losses, net	$ 0	$ 0	$ 6
Letter of Credit
Long-term debt outstanding
Commitment fee rate	0.25%
Letter of credit fees	1.75%
Minimum | Letter of Credit
Long-term debt outstanding
Commitment fee rate	0.25%
Letter of credit fees	1.75%
Maximum | Letter of Credit
Long-term debt outstanding
Commitment fee rate	0.375%
Letter of credit fees	2.50%
Secured Overnight Financing Rate (SOFR) | Letter of Credit
Long-term debt outstanding
Interest rate margin	1.75%
Secured Overnight Financing Rate (SOFR) | Minimum | Letter of Credit
Long-term debt outstanding
Interest rate margin	1.75%
Secured Overnight Financing Rate (SOFR) | Maximum | Letter of Credit
Long-term debt outstanding
Interest rate margin	2.50%
Base Rate | Letter of Credit
Long-term debt outstanding
Interest rate margin	0.75%
Base Rate | Minimum | Letter of Credit
Long-term debt outstanding
Interest rate margin	0.75%
Base Rate | Maximum | Letter of Credit
Long-term debt outstanding
Interest rate margin	1.50%
Credit Agreement
Long-term debt outstanding
Credit Agreement available for future borrowings	$ 348.8
Short-term credit agreement borrowings	$ 0
Borrowing rate	7.09%
Credit Agreement | Revolving Credit Facility
Long-term debt outstanding
Current borrowing capacity				$ 350
Required interest coverage ratio one				3
Required consolidated net leverage ratio				4
Credit Agreement | Revolving Credit Facility | Minimum
Long-term debt outstanding
Credit Agreement available for future borrowings				$ 40
Credit Agreement | Revolving Credit Facility | Maximum
Long-term debt outstanding
Credit Agreement available for future borrowings				$ 300
Credit Agreement | Letter of Credit
Long-term debt outstanding
Letters of credit issued	$ 1.2

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt Outstanding (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Revolving Credit Agreement
Long-term debt, net of current portion	$ 694.2	$ 693
Senior unsecured notes, 7.625% due March 2030 (face value of $300.0 million at June 30, 2024 and 2023)
Revolving Credit Agreement
Interest rate	7.625%	7.625%
Face amount	$ 300	$ 300
Total debt	297	296.5
Senior Notes
Revolving Credit Agreement
Total debt	694.2	693
Less: amounts due within one year	0	0
Long-term debt, net of current portion	$ 694.2	$ 693
Senior Notes | Senior unsecured notes, 6.375% due July 2028 (face value of $400.0 million at June 30, 2024 and 2023)
Revolving Credit Agreement
Interest rate	6.375%	6.375%
Face amount	$ 400	$ 400
Total debt	$ 397.2	$ 396.5

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Schedule of Reconciliation of Benefit Obligations, Plan Assets and Funded Status of the Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Change in plan assets:
Fair value of plan assets at beginning of year
Fair value of plan assets at end of year
Pension Benefits
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	848.2	959.4
Service cost	8.2	8.1	$ 8.6
Interest cost	43.7	46.2	36.6
Benefits paid	(68.8)	(77.5)
Actuarial gain	(2.3)	(65.3)
Plan settlements	(147.2)	(23.3)
Other	0.9	0.6
Projected benefit obligation at end of year	682.7	848.2	959.4
Change in plan assets:
Fair value of plan assets at beginning of year	654.8	759.4
Actual return	18.5	(7.4)
Benefits paid	(68.8)	(77.5)
Contributions	14.5	3.6
Plan settlements	(147.2)	(23.3)
Fair value of plan assets at end of year	471.8	654.8	759.4
Funded status of the plans	(210.9)	(193.4)
Amounts recognized in the consolidated balance sheets:
Accrued liabilities - current	(3.3)	(3.3)
Accrued pension and postretirement benefits - noncurrent	(207.6)	(190.1)
Amounts recognized in the consolidated balance sheets	(210.9)	(193.4)
Other Benefits
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	182.3	206.2
Service cost	1.5	1.8	2.4
Interest cost	10.2	10	7.4
Benefits paid	(12.3)	(13.5)
Actuarial gain	(8.9)	(22.2)
Plan settlements	0	0
Other	0	0
Projected benefit obligation at end of year	172.8	182.3	206.2
Change in plan assets:
Fair value of plan assets at beginning of year	120.4	114.7
Actual return	25.6	15.9
Benefits paid	(12.3)	(13.5)
Contributions	2.6	3.3
Plan settlements	0	0
Fair value of plan assets at end of year	136.3	120.4	$ 114.7
Funded status of the plans	(36.5)	(61.9)
Amounts recognized in the consolidated balance sheets:
Accrued liabilities - current	(15.4)	(16.1)
Accrued pension and postretirement benefits - noncurrent	(21.1)	(45.8)
Amounts recognized in the consolidated balance sheets	$ (36.5)	$ (61.9)

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Schedule of Amounts Recognized in the Consolidated Balance Sheets (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
Amounts recognized in accumulated other comprehensive loss:
Net actuarial loss (gain)	$ 215.4	$ 260.3
Prior service cost (benefit)	4.2	5.8
Total	219.6	266.1
Other changes in plan assets and benefit obligations recognized in other comprehensive income consist of:
Net actuarial loss (gain)	15.5	(12.5)
Amortization of net (loss) gain	(8)	(9.5)
Amortization of prior service (cost) benefit	(2.1)	(2.1)
Settlement charge	(51.9)	0
Total, before tax effect	(46.5)	(24.1)
Additional information:
Accumulated benefit obligation for all pension plans	678.5	843.8
Other Benefits
Amounts recognized in accumulated other comprehensive loss:
Net actuarial loss (gain)	(64.3)	(39.7)
Prior service cost (benefit)	1.5	(2.4)
Total	(62.8)	(42.1)
Other changes in plan assets and benefit obligations recognized in other comprehensive income consist of:
Net actuarial loss (gain)	(27.2)	(31.2)
Amortization of net (loss) gain	2.5	1.8
Amortization of prior service (cost) benefit	3.9	3.9
Settlement charge	0	0
Total, before tax effect	$ (20.8)	$ (25.5)

Pension and Other Postretirem_5

Pension and Other Postretirement Benefits - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Settlement charge	$ 51.9	$ 0	$ 0
Plan's current allocation policy	95%
Percentage increase in funding level to shift assets from return seeking to liability hedging	5%
Return Seeking Asset
Defined Benefit Plan Disclosure [Line Items]
Plan's current allocation policy	75%
Liability Matching Assets
Defined Benefit Plan Disclosure [Line Items]
Plan's current allocation policy	25%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Change in discount rate	$ 5.4
Change in plan experience	3.1	9.2
Mortality update	4.9	13.8
Settlement charge	51.9	0	0
Employer contributions	14.5	3.6
Pension Benefits | Qualified Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	11.3	0	0.7
Expected contributions for next fiscal year	26.3
Pension Benefits | Nonqualified Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	3.2	3.6	3.1
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Mortality update	2.1	70.9
Settlement charge	0	0	0
Employer contributions	$ 2.6	3.3
Other Benefits | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan's current allocation policy	95%
Other Benefits | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Plan's current allocation policy	5%
Defined Contribution Retirement and Savings Plans
Defined Benefit Plan Disclosure [Line Items]
Contributions to defined contribution retirement and savings plans	$ 26.5	$ 23.3	$ 21

Pension and Other Postretirem_6

Pension and Other Postretirement Benefits - Schedule of Amounts Recognized in the Accumulated other Comprehensive Loss (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 682.7	$ 848.2
Fair value of plan assets	471.8	654.8
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	172.8	182.3
Fair value of plan assets	$ 136.3	$ 120.4

Pension and Other Postretirem_7

Pension and Other Postretirement Benefits - Schedule of Projected Benefit Obligations in Excess of Plan Assets and Accumulated Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 678.5	$ 843.8
Fair value of plan assets	471.8	654.8
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	172.8	182.3
Fair value of plan assets	$ 136.3	$ 120.4

Pension and Other Postretirem_8

Pension and Other Postretirement Benefits - Schedule of Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Settlement charge	$ 51.9	$ 0	$ 0
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	8.2	8.1	8.6
Interest cost	43.7	46.2	36.6
Expected return on plan assets	(35.9)	(45.3)	(59.9)
Amortization of net loss (gain)	8	9.5	8.4
Amortization of prior service cost (benefit)	2.1	2.1	2.1
Settlement charge	51.9	0	0
Net pension expense (income)	78	20.6	(4.2)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	1.5	1.8	2.4
Interest cost	10.2	10	7.4
Expected return on plan assets	(7.3)	(6.8)	(8.2)
Amortization of net loss (gain)	(2.5)	(1.8)	(0.8)
Amortization of prior service cost (benefit)	(3.9)	(3.9)	(3.9)
Settlement charge	0	0	0
Net pension expense (income)	$ (2)	$ (0.7)	$ (3.1)

Pension and Other Postretirem_9

Pension and Other Postretirement Benefits - Schedule of Weighted-average Assumptions Used to Determine Benefit Obligation (Details)	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.98%	5.85%
Rate of compensation increase	3.33%	3.28%
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	6.03%	5.87%

Pension and Other Postretire_10

Pension and Other Postretirement Benefits - Schedule of Weighted-average Assumptions Used to Determine Net Periodic Benefit Cost (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.89%	5.01%	3.06%
Expected long-term rate of return on plan assets	6.50%	6.25%	6.22%
Long-term rate of compensation increase	3.28%	3.28%	3.29%
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.87%	5.02%	3.04%
Expected long-term rate of return on plan assets	6.50%	6.25%	6.25%

Pension and Other Postretire_11

Pension and Other Postretirement Benefits - Schedule of Expected Health Care Cost Trend Rates (Details)	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Assumed health care cost trend rate	6.50%	6.25%
Rate to which the cost trend rate is assumed to decline and remain (the ultimate trend rate)	5%	5%

Pension and Other Postretire_12

Pension and Other Postretirement Benefits - Schedule of Amounts in Other Comprehensive Loss that are Expected to be Recognized as Components of Net Periodic Benefit Cost (Details) $ in Millions	Jun. 30, 2024 USD ($)
Amounts in other comprehensive loss that are expected to recognized as components of net periodic benefit cost in the next fiscal year
Amortization of prior service cost (benefit)	$ 3.3
Amortization of net actuarial loss (gain)	1.7
Amortization of accumulated other comprehensive loss (gain)	5
Pension Benefits
Amounts in other comprehensive loss that are expected to recognized as components of net periodic benefit cost in the next fiscal year
Amortization of prior service cost (benefit)	2.1
Amortization of net actuarial loss (gain)	7.3
Amortization of accumulated other comprehensive loss (gain)	9.4
Other Benefits
Amounts in other comprehensive loss that are expected to recognized as components of net periodic benefit cost in the next fiscal year
Amortization of prior service cost (benefit)	1.2
Amortization of net actuarial loss (gain)	(5.6)
Amortization of accumulated other comprehensive loss (gain)	$ (4.4)

Pension and Other Postretire_13

Pension and Other Postretirement Benefits - Schedule of Weighted-average Asset Allocations by Asset Category (Details) - Pension Benefits	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Total	100%	100%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Total	42.40%	43.80%
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Total	31.60%	36.50%
Real assets securities
Defined Benefit Plan Disclosure [Line Items]
Total	26%	19.70%

Pension and Other Postretire_14

Pension and Other Postretirement Benefits - Schedule of Fair Values of Pension Plan by Assets Category (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	$ 471.8	654.8	$ 759.4
Pension Benefits | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	7.2	6.7
Pension Benefits | Commingled trust funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	464.1	646.8
Pension Benefits | Mortgage/asset backed securities and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0.5	1.3
Pension Benefits | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	7.2	6.7
Pension Benefits | Level 1 | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	7.2	6.7
Pension Benefits | Level 1 | Commingled trust funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Pension Benefits | Level 1 | Mortgage/asset backed securities and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Pension Benefits | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0.5	1.3
Pension Benefits | Level 2 | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Pension Benefits | Level 2 | Commingled trust funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Pension Benefits | Level 2 | Mortgage/asset backed securities and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0.5	1.3
Pension Benefits | Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	464.1	646.8
Pension Benefits | Net Asset Value | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Pension Benefits | Net Asset Value | Commingled trust funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	464.1	646.8
Pension Benefits | Net Asset Value | Mortgage/asset backed securities and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	$ 0	$ 0

Pension and Other Postretire_15

Pension and Other Postretirement Benefits - Schedule of Fair Values of Other Postretirement Benefit Plans by Asset Category (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	$ 136.3	120.4	$ 114.7
Other Benefits | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	6.6	10.3
Other Benefits | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Other Benefits | Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	129.7	110.1
Other Benefits | Commingled trust funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	129.7	110.1
Other Benefits | Commingled trust funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Other Benefits | Commingled trust funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Other Benefits | Commingled trust funds | Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	129.7	110.1
Other Benefits | Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	6.6	10.3
Other Benefits | Short-term investments | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	6.6	10.3
Other Benefits | Short-term investments | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Other Benefits | Short-term investments | Net Asset Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	$ 0	$ 0

Pension and Other Postretire_16

Pension and Other Postretirement Benefits - Schedule of Estimated Future Benefit Payments (Details) $ in Millions	Jun. 30, 2024 USD ($)
Pension Benefits
Estimated future benefit payments
2025	$ 63.4
2026	61.3
2027	60.3
2028	58.7
2029	57.3
2030-2034	264.9
Other Benefits
Estimated future benefit payments
2025	15.4
2026	15.4
2027	15.2
2028	15
2029	14.8
2030-2034	$ 69.6

Contingencies and Commitments (

Contingencies and Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Purchase agreements
Increase (decrease) made by the company in the liabilities of environmental remediation costs	$ 0.8	$ (1.8)
Environmental remediation liability	17.3	$ 16.5
Aggregate purchase commitments, due in 2025	176.3
Aggregate purchase commitments, due in 2026	44.7
Aggregate purchase commitments, due in 2027	21.9
Aggregate purchase commitments, due in 2028	0.5
Aggregate purchase commitments, due in 2029	0.4
Raw materials
Purchase agreements
Aggregate purchase commitments	$ 243.8

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 14.6	$ 14	$ 13.5
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	13 years

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease cost	$ 11	$ 11.3	$ 10.9
Short-term lease cost	4.4	3.8	3.5
Variable lease cost	0.2	0.1	0.1
Sublease income	(1)	(1.2)	(1)
Total lease cost	14.6	14	13.5
Operating cash flow payments from operating leases	11.6	12.3	11.4
Noncash ROU assets obtained in exchange for lease obligations	$ 4.3	$ 9.9	$ 16.5
Weighted-average remaining lease term - operating leases	7 years 4 months 24 days	8 years	8 years 6 months
Weighted-average discount rate - operating leases	4.40%	4.10%	3.70%

Leases - ROU Assets and Liabili

Leases - ROU Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Operating lease assets:
Other assets	$ 39	$ 43.9
Operating lease liabilities:
Accrued liabilities	8.8	9.1
Other liabilities	38.4	43.6
Total operating lease liabilities	$ 47.2	$ 52.7
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Accrued liabilities	Accrued liabilities
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities	Liabilities

Leases - Minimum Lease Payments

Leases - Minimum Lease Payments for Operating Leases (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
2025	$ 10.4
2026	8.1
2027	7.6
2028	6.4
2029	4.9
Thereafter	17.7
Total future minimum lease payments	55.1
Less: imputed interest	7.9
Total	$ 47.2	$ 52.7

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Assets:
Derivative Asset, Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	true
Liabilities:
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	true
Level 2
Assets:
Derivative financial instruments	$ 0	$ 3.7
Liabilities:
Derivative financial instruments	$ 5.8	$ 6.8

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments not Recorded at Fair Value in the Financial Statements (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Carrying Value
Carrying amounts and estimated fair values of financial instruments not recorded at fair value
Long-term debt	$ 694.2	$ 693
Company-owned life insurance	31.8	26.2
Fair Value
Carrying amounts and estimated fair values of financial instruments not recorded at fair value
Long-term debt	709.1	698.1
Company-owned life insurance	$ 31.8	$ 26.2

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) plan $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans (plan) | plan	2
Compensation cost	$ 19.8	$ 16.4	$ 10.8
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 0.4	$ 0.5	$ 0.6
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 34.06	$ 15.55	$ 12.39
Unvested stock option cost	$ 0.1
Stock option weighted average remaining life	3 months 18 days
Options outstanding (in shares) | shares	613,586	1,808,174	1,962,589	2,075,753
Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period	1 year
Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period	3 years
Expiration term	10 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 8.3	$ 6.1	$ 1.1
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares awarded percentage	0%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares awarded percentage	200%
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares) | shares	3,419,252
Omnibus Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares) | shares	384,642
Omnibus Plan | Time-based restricted stock unit awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period	1 year
Omnibus Plan | Time-based restricted stock unit awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period	3 years
Omnibus Plan | Restricted stock unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 9.8	8.6	8
Unvested stock option cost	$ 7.6
Stock option weighted average remaining life	1 year 6 months
Director's Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 1.3	$ 1.2	$ 1.1
Shares available for grant (in shares) | shares	171,911
Shares vesting period	1 year
Unvested stock option cost	$ 0.3
Stock option weighted average remaining life	3 months 18 days
Percentage of Director's annual retainer paid in stock instead of cash	50%
Percentage of Director's committee chair fees paid in stock instead of cash	100%
Director's Plan | Every Three Months
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vesting following grant date	25%
Director's Plan | 1/4 of the units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period with reference to service term	3 months
Director's Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Director's annual retainer paid in stock instead of cash	50%
Director's Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares) | shares	228,944

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Weighted-average Assumptions of Fair Value of Stock Options (Details) - Stock options	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	55.40%	54%	51.60%
Dividend yield	1.10%	2.20%	2.40%
Risk-free interest rate	4.60%	4%	1.10%
Expected term (in years)	5 years	5 years	5 years

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Number of Awards
Exercised (in shares)	(835,532)	(117,621)	(891)
Stock options
Number of Awards
Balance at the beginning of the period (in shares)	1,808,174	1,962,589	2,075,753
Granted (in shares)	11,014	27,956	36,444
Exercised (in shares)	(835,532)	(117,621)	(891)
Withheld (in shares)	(369,042)	(1,136)
Forfeited (in shares)	(1,028)	(2,097)	(69,656)
Expired (in shares)		(61,517)	(79,061)
Balance at the end of the period (in shares)	613,586	1,808,174	1,962,589
Exercisable (in shares)	603,600
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share)	$ 42.67	$ 42.96	$ 43.47
Granted (in dollars per share)	70.64	36.24	34.43
Exercised (in dollars per share)	45.06	42.39	39.70
Withheld (in dollars per share)	39.81	44.90
Forfeited (in dollars per share)	70.64	42.16	40.52
Expired (in dollars per share)		49.67	54.49
Balance at the end of the period (in dollars per share)	41.61	$ 42.67	$ 42.96
Exercisable (in dollars per share)	$ 41.13
Weighted Average Remaining Contractual Term
Outstanding	3 years 7 months 6 days
Exercisable	3 years 6 months
Aggregate Intrinsic Value ($ in millions)
Outstanding	$ 41.7
Exercisable	$ 41.3

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Outstanding and Exercisable Options by Exercise Price Range (Details) - Stock options	12 Months Ended
	Jun. 30, 2024 $ / shares shares
Exercise price range disclosures
Number of Awards, Outstanding (in shares) | shares	613,586
Weighted Average Exercise Price (in dollars per share)	$ 41.61
Number Exercisable (in shares) | shares	603,600
Weighted Average Exercise Price (in dollars per share)	$ 41.13
$18.26 - $20.00
Exercise price range disclosures
Minimum Exercise Price Range (in dollars per share)	18.26
Maximum Exercise Price Range (in dollars per share)	$ 20
Number of Awards, Outstanding (in shares) | shares	50,142
Weighted Average Remaining Contractual Term (in Years)	6 years 3 months 18 days
Weighted Average Exercise Price (in dollars per share)	$ 18.26
Number Exercisable (in shares) | shares	50,142
Weighted Average Exercise Price (in dollars per share)	$ 18.26
$20.01 - $30.00
Exercise price range disclosures
Minimum Exercise Price Range (in dollars per share)	20.01
Maximum Exercise Price Range (in dollars per share)	$ 30
Number of Awards, Outstanding (in shares) | shares	0
Weighted Average Remaining Contractual Term (in Years)	0 years
Weighted Average Exercise Price (in dollars per share)	$ 0
Number Exercisable (in shares) | shares	0
Weighted Average Exercise Price (in dollars per share)	$ 0
$30.01 - $40.00
Exercise price range disclosures
Minimum Exercise Price Range (in dollars per share)	30.01
Maximum Exercise Price Range (in dollars per share)	$ 40
Number of Awards, Outstanding (in shares) | shares	160,379
Weighted Average Remaining Contractual Term (in Years)	3 years 7 months 6 days
Weighted Average Exercise Price (in dollars per share)	$ 37.13
Number Exercisable (in shares) | shares	160,379
Weighted Average Exercise Price (in dollars per share)	$ 37.13
$40.01 - $50.00
Exercise price range disclosures
Minimum Exercise Price Range (in dollars per share)	40.01
Maximum Exercise Price Range (in dollars per share)	$ 50
Number of Awards, Outstanding (in shares) | shares	311,969
Weighted Average Remaining Contractual Term (in Years)	3 years
Weighted Average Exercise Price (in dollars per share)	$ 42.58
Number Exercisable (in shares) | shares	311,969
Weighted Average Exercise Price (in dollars per share)	$ 42.58
$50.01 - $60.00
Exercise price range disclosures
Minimum Exercise Price Range (in dollars per share)	50.01
Maximum Exercise Price Range (in dollars per share)	$ 60
Number of Awards, Outstanding (in shares) | shares	81,110
Weighted Average Remaining Contractual Term (in Years)	3 years 1 month 6 days
Weighted Average Exercise Price (in dollars per share)	$ 57.59
Number Exercisable (in shares) | shares	81,110
Weighted Average Exercise Price (in dollars per share)	$ 57.59
$60.01 - $70.64
Exercise price range disclosures
Minimum Exercise Price Range (in dollars per share)	60.01
Maximum Exercise Price Range (in dollars per share)	$ 70.64
Number of Awards, Outstanding (in shares) | shares	9,986
Weighted Average Remaining Contractual Term (in Years)	9 years 3 months 18 days
Weighted Average Exercise Price (in dollars per share)	$ 70.64
Number Exercisable (in shares) | shares	0
Weighted Average Exercise Price (in dollars per share)	$ 0

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Nonvested Stock Awards Activity (Details) - Restricted stock unit awards - Omnibus Plan - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Number of Awards
Balance at the beginning of the period (in shares)	522,746	515,664	496,325
Time-based granted (in shares)	191,909	285,268	281,533
Vested (in shares)	(273,296)	(246,306)	(216,656)
Forfeited (in shares)	(40,262)	(31,880)	(45,538)
Balance at the end of the period (in shares)	401,097	522,746	515,664
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)	$ 35.18	$ 31.27	$ 29.44
Time-based granted (in dollars per share)	61.42	39.01	35.76
Vested (in dollars per share)	32.67	31.37	32.71
Forfeited (in dollars per share)	45.19	35.23	32.35
Balance at the end of the period (in dollars per share)	$ 48.44	$ 35.18	$ 31.27

Share-Based Compensation - Su_5

Share-Based Compensation - Summary of Director Stock Units Activity (Details) - Non-employee Board of Director's Plan - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Number of Units
Balance at the beginning of the period (in shares)	307,571	317,233	353,365
Granted (in shares)	21,590	38,433	37,234
Distributed (in shares)	(11,653)	(54,057)	(81,136)
Forfeited (in shares)	(1,912)
Dividend equivalents (in shares)	3,223	5,962	7,770
Balance at the end of the period (in shares)	318,819	307,571	317,233
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share)	$ 30.75	$ 31.89	$ 35.54
Granted (in dollars per share)	71.01	34.93	33.62
Distributed (in dollars per share)	36.14	35.85	33.28
Forfeited (in dollars per share)	70.64
Dividend equivalents (in dollars per share)	0	0	0
Balance at the end of the period (in dollars per share)	$ 33.85	$ 30.75	$ 31.89

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details) lb in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) lb	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating
Derivative contracts on a gross basis	$ 200,000
Derivative contracts liability on a gross basis	6,000,000
Cash collateral held by counterparties	0
Derivative losses included in AOCI	$ 1,500,000
Commodity contracts | Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amounts of raw materials to be purchased from forward contracts (in lbs) | lb	2
Forward interest rate swaps | Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (loss) recorded recognized in interest expense	$ 0	$ 0	$ 400,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Schedule of Fair Value and Location of Outstanding Derivative Contracts Recorded in Consolidated Balance Sheets (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Asset Derivatives:
Derivatives designated as hedging instruments, asset	$ 0	$ 3.7
Liability Derivatives:
Derivatives designated as hedging instruments, liability	5.8	6.8
Foreign exchange contracts
Asset Derivatives:
Derivatives designated as hedging instruments, asset	0	2.1
Liability Derivatives:
Derivatives designated as hedging instruments, liability	1.4	0
Commodity contracts
Asset Derivatives:
Derivatives designated as hedging instruments, asset	0	1.6
Liability Derivatives:
Derivatives designated as hedging instruments, liability	4.4	6.8
Other current assets
Asset Derivatives:
Derivatives designated as hedging instruments, asset	0	3.7
Other current assets | Foreign exchange contracts
Asset Derivatives:
Derivatives designated as hedging instruments, asset	0	2.1
Other current assets | Commodity contracts
Asset Derivatives:
Derivatives designated as hedging instruments, asset	0	1.6
Other assets
Asset Derivatives:
Derivatives designated as hedging instruments, asset	0	0
Other assets | Foreign exchange contracts
Asset Derivatives:
Derivatives designated as hedging instruments, asset	0	0
Other assets | Commodity contracts
Asset Derivatives:
Derivatives designated as hedging instruments, asset	0	0
Accrued liabilities
Liability Derivatives:
Derivatives designated as hedging instruments, liability	3.6	6.4
Accrued liabilities | Foreign exchange contracts
Liability Derivatives:
Derivatives designated as hedging instruments, liability	0	0
Accrued liabilities | Commodity contracts
Liability Derivatives:
Derivatives designated as hedging instruments, liability	3.6	6.4
Other liabilities
Liability Derivatives:
Derivatives designated as hedging instruments, liability	2.2	0.4
Other liabilities | Foreign exchange contracts
Liability Derivatives:
Derivatives designated as hedging instruments, liability	1.4	0
Other liabilities | Commodity contracts
Liability Derivatives:
Derivatives designated as hedging instruments, liability	$ 0.8	$ 0.4

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Summary of the Gains (Losses) Related to Cash Flow Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	$ (9.6)	$ (8.8)	$ 26.8
Amount of (Loss) Gain Reclassified from AOCI into Income	(11)	7.7	28.7
Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	(9.6)	(8.8)	26.8
Commodity contracts | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Reclassified from AOCI into Income	(11)	7.7	28.3
Forward interest rate swaps | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Reclassified from AOCI into Income	$ 0	$ 0	$ 0.4

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Summary of Effect of Derivative Instruments on Income (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Cost of sales	$ 2,175.4	$ 2,213	$ 1,686.5
Amount of gain (loss) reclassified from AOCI to income	(11)	7.7	28.7
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain	(11)	7.7
Commodity Contract | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCI to income	$ (11)	$ 7.7	$ 28.3

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Schedule of Changes in AOCI Associated with Derivative Hedging Activities (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances, beginning of period	$ 1,396.1	$ 1,330.5	$ 1,392.3
Balances, end of period	1,628.8	1,396.1	1,330.5
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances, beginning of period	(7)	5.5	6.9
Current period changes in fair value, net of tax	(7.3)	(6.7)	20.4
Reclassification to earnings, net of tax	8.4	(5.8)	(21.8)
Balances, end of period	$ (5.9)	$ (7)	$ 5.5

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before Income Taxes for the Company's Domestic and Foreign Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Domestic	$ 224.1	$ 51.2	$ (74)
Foreign	(12.5)	21.3	10.9
Income (loss) before income taxes	$ 211.6	$ 72.5	$ (63.1)

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision (Benefit) for Income Taxes from Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Current:
Federal	$ 30.4	$ 8.6	$ (14.7)
State	4.2	2.6	0.1
Foreign	3.8	5.3	3.7
Total current	38.4	16.5	(10.9)
Deferred:
Federal	(10.1)	(0.9)	(1)
State	(2.7)	(0.5)	(2.7)
Foreign	(0.5)	1	0.6
Total deferred	(13.3)	(0.4)	(3.1)
Total income tax expense (benefit)	$ 25.1	$ 16.1	$ (14)

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Income Taxes Computed at the U.S. Federal Income Tax Rate to the Company's Effective Income Tax Rate (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Reconciliation of income taxes computed at the U.S. Federal income tax rate to the Company's effective income tax rate
Statutory federal income tax rate	21%	21%	21%
State income taxes, net of federal tax benefit	2.70%	2.80%	3.10%
Foreign tax rate differential	(0.30%)	0.90%	(1.00%)
Research and development tax credit	(1.60%)	(3.50%)	4.40%
Foreign derived intangible income deduction	(1.80%)	0%	0%
Adjustments of prior years' income taxes	0%	8.70%	(7.40%)
Non-deductible goodwill impairment	1.40%	0%	0%
Tax benefit related to closure of Additive operations	(8.70%)	0%	0%
Non-taxable income	(0.50%)	(0.80%)	(1.00%)
Non-deductible expenses	6.40%	(0.10%)	(0.70%)
Non-deductible compensation	1.60%	1.40%	(1.10%)
Share-based compensation	(3.20%)	0%	(0.70%)
Changes in valuation allowances	(4.70%)	(7.40%)	6%
Law changes	0%	0.40%	0%
Interest on prior tax positions	(0.40%)	(1.30%)	0.20%
Other, net	0%	0.10%	(0.60%)
Effective income tax rate	11.90%	22.20%	22.20%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($)
Operating loss carryforwards disclosures
Deferred tax assets, operating loss carryforwards, subject to expiration	$ 178.2
Amount of future tax benefits	7
Increase (decrease) in valuation allowance	(11.2)
Liquidation Of Business | United Kingdom
Operating loss carryforwards disclosures
Increase (decrease) in valuation allowance	(7.2)
Operating Loss Carryforward, Expired
Operating loss carryforwards disclosures
Increase (decrease) in valuation allowance	(3.3)
Projected Future Taxable Income
Operating loss carryforwards disclosures
Increase (decrease) in valuation allowance	(0.9)
Operating Losses, Jurisdictions Without Tax Benefits
Operating loss carryforwards disclosures
Increase (decrease) in valuation allowance	$ 0.2

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Deferred tax assets:
Pensions	$ 33.1	$ 39.8
Postretirement provisions	14.4	20
Non-equity compensation	9.6	16
Net operating loss carryforwards	8.5	22.5
Tax credit carryforwards	2	1.2
Operating lease liabilities	8.9	10
Other	20.1	22.3
Gross deferred tax assets	96.6	131.8
Valuation allowances	(2.4)	(13.6)
Total deferred tax assets	94.2	118.2
Deferred tax liabilities:
Depreciation	219.6	237.6
Intangible assets	3.2	5.8
Inventories	28.2	27.4
Operating lease right-of-use assets	7	8
Other	2.8	3.1
Total deferred tax liabilities	260.8	281.9
Deferred tax liabilities, net	$ 166.6	$ 163.7

Other Expense (Income), Net (De

Other Expense (Income), Net (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
Unrealized (gains) losses on company-owned life insurance contracts and investments held in rabbi trusts	$ (5.8)	$ (3.3)	$ 4.8
Interest income	(1.8)	(0.6)	(0.1)
Foreign exchange losses	1.8	0.4	1.3
Pension earnings, interest and deferrals	14.4	10	(18.3)
Pension settlement charge	51.9	0	0
Other	0	0	(0.4)
Total other expense (income), net	$ 60.5	$ 6.5	$ (12.7)

Segment Information, Geograph_3

Segment Information, Geographic and Product Data - Narrative (Details)	12 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information, Geograph_4

Segment Information, Geographic and Product Data - Schedule of Results of Operation, Depreciation and Amortization, Capital Expenditures and Total Assets by Reportable Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Consolidated net sales	$ 2,759.7	$ 2,550.3	$ 1,836.3
Consolidated operating income (loss)	323.1	133.1	(24.9)
Consolidated depreciation and amortization	134.6	131	131.4
Consolidated capital expenditures	96.6	82.3	91.3
Consolidated total assets	3,291.7	3,053.9
Corporate
Segment Reporting Information [Line Items]
Consolidated operating income (loss)	(123)	(75.5)	(52.8)
Consolidated depreciation and amortization	5	5.4	5.5
Consolidated capital expenditures	3.4	2	3
Consolidated total assets	334.8	159
Intersegment
Segment Reporting Information [Line Items]
Consolidated net sales	(95.1)	(97)	(73.8)
Consolidated operating income (loss)	1.6	(2.3)	0.2
Consolidated total assets	(16.8)	(17.9)
Specialty Alloys Operations | Operating
Segment Reporting Information [Line Items]
Consolidated net sales	2,443.8	2,213.6	1,565.6
Consolidated operating income (loss)	408.5	179.1	9.6
Consolidated depreciation and amortization	113.3	110	110.1
Consolidated capital expenditures	80	70.2	77.5
Consolidated total assets	2,542.2	2,461.2
Performance Engineered Products | Operating
Segment Reporting Information [Line Items]
Consolidated net sales	411	433.7	344.5
Consolidated operating income (loss)	36	31.8	18.1
Consolidated depreciation and amortization	16.3	15.6	15.8
Consolidated capital expenditures	13.2	10.1	$ 10.8
Consolidated total assets	$ 431.5	$ 451.6

Segment Information, Geograph_5

Segment Information, Geographic and Product Data - Schedule of Net Sales by Geographic Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Geographic Data
Net sales	$ 2,759.7	$ 2,550.3	$ 1,836.3
United States
Geographic Data
Net sales	1,623	1,556.2	1,179.9
Europe
Geographic Data
Net sales	503.8	437.3	253.5
Asia Pacific
Geographic Data
Net sales	391.3	319.5	233.9
Mexico
Geographic Data
Net sales	120.1	124	89.4
Canada
Geographic Data
Net sales	70.1	60.1	41.5
Other
Geographic Data
Net sales	$ 51.4	$ 53.2	$ 38.1

Segment Information, Geograph_6

Segment Information, Geographic and Product Data - Schedule of Long-lived Assets by Geographic Segment (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Geographic Data
Long-lived assets	$ 1,335.2	$ 1,383.8
United States
Geographic Data
Long-lived assets	1,330	1,368.1
Europe
Geographic Data
Long-lived assets	3	13.1
Mexico
Geographic Data
Long-lived assets	1.3	1.6
Asia Pacific
Geographic Data
Long-lived assets	0.5	0.5
Canada
Geographic Data
Long-lived assets	$ 0.4	$ 0.5

Reclassifications from Accumu_3

Reclassifications from Accumulated Other Comprehensive Loss - Schedule of Changes in AOCI by Component, Net of Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances, beginning of period	$ 1,396.1	$ 1,330.5
Other comprehensive (loss) income before reclassifications	(1.7)	31.8
Amounts reclassified from AOCI	50.8	(1.3)
Net current-period other comprehensive income (loss)	49.1	30.5
Balances, end of period	1,628.8	1,396.1
Accumulated Other Comprehensive (Loss) Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances, beginning of period	(143)	(173.5)
Balances, end of period	(93.9)	(143)
Cash flow hedging items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances, beginning of period	(7)	5.5
Other comprehensive (loss) income before reclassifications	(7.3)	(6.7)
Amounts reclassified from AOCI	8.4	(5.8)
Net current-period other comprehensive income (loss)	1.1	(12.5)
Balances, end of period	(5.9)	(7)
Pension and other postretirement benefit plan items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances, beginning of period	(95.5)	(132.9)
Other comprehensive (loss) income before reclassifications	8.8	32.9
Amounts reclassified from AOCI	42.4	4.5
Net current-period other comprehensive income (loss)	51.2	37.4
Balances, end of period	(44.3)	(95.5)
Foreign currency items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances, beginning of period	(40.5)	(46.1)
Other comprehensive (loss) income before reclassifications	(3.2)	5.6
Amounts reclassified from AOCI	0	0
Net current-period other comprehensive income (loss)	(3.2)	5.6
Balances, end of period	$ (43.7)	$ (40.5)

Reclassifications from Accumu_4

Reclassifications from Accumulated Other Comprehensive Loss - Schedule of Amounts Reclassified from AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Amount reclassified from AOCI
Other expense (income), net	$ (60.5)	$ (6.5)	$ 12.7
Income (loss) before income taxes	211.6	72.5	(63.1)
Tax benefit (expense)	(25.1)	(16.1)	14
Net income (loss)	186.5	56.4	$ (49.1)
Amount Reclassified from AOCI | Cash flow hedging items
Amount reclassified from AOCI
Income (loss) before income taxes	(11)	7.7
Tax benefit (expense)	2.6	(1.9)
Net income (loss)	(8.4)	5.8
Amount Reclassified from AOCI | Cash flow hedging items | Commodity contracts
Amount reclassified from AOCI
Cost of sales	(11)	7.7
Amount Reclassified from AOCI | Pension and other postretirement benefit plan items
Amount reclassified from AOCI
Income (loss) before income taxes	(55.6)	(5.9)
Tax benefit (expense)	13.2	1.4
Net income (loss)	(42.4)	(4.5)
Amount Reclassified from AOCI | Net actuarial loss
Amount reclassified from AOCI
Other expense (income), net	(5.5)	(7.7)
Amount Reclassified from AOCI | Prior service benefit
Amount reclassified from AOCI
Other expense (income), net	1.8	1.8
Amount Reclassified from AOCI | Settlement charge
Amount reclassified from AOCI
Other expense (income), net	$ (51.9)	$ 0

Supplemental Data (Details)

Supplemental Data (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Cost Data:
Repairs and maintenance costs	$ 126.7	$ 101.4	$ 74.6
Noncash investing and financing activities:
Noncash purchases of property, plant, equipment and software	10.6	13.6	7.6
Cash paid (received) during the year for:
Interest payments, net	49.2	50.9	40.5
Income tax payments (refunds), net	$ 62.8	$ 9.9	$ (46.1)

SCHEDULE II. VALUATION AND QU_2

SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Allowance for doubtful accounts receivable
Valuation accounts activity
Balance at Beginning of Period	$ 3.1	$ 3.3	$ 3.6
Charged to Costs & Expenses	1	(0.4)	(0.4)
Charged to Other Accounts	(0.1)	0.2	0.1
Deductions	0	0	0
Balance at End  of Period	4	3.1	3.3
Deferred tax valuation allowance
Valuation accounts activity
Balance at Beginning of Period	13.6	21.3	25.2
Charged to Costs & Expenses	(11.2)	(7.7)	(3.9)
Charged to Other Accounts	0	0	0
Deductions	0	0	0
Balance at End  of Period	$ 2.4	$ 13.6	$ 21.3