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Leases (Tables)
9 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Schedule of Components of Lease Expense, Supplemental Cash Flow Information, Weighted Average Discount Rate and Remaining Lease Term The components of lease expense were as follows:
(in millions)Three Months Ended March 31, Nine Months Ended March 31,
Statement of Income Location2020
Operating leases
Cost of products sold$22.4  $67.9  
Selling, general and administrative expenses5.6  17.0  
Finance leases
Amortization of right-of-use assets0.6  1.2  
Interest on lease liabilities0.2  0.5  
Total lease cost (1)$28.8  $86.6  
(1)Includes short-term leases and variable lease costs, which are immaterial.
Supplemental cash flow information related to leases was as follows:
 Nine Months Ended March 31,
(in millions)2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$80.5  
Operating cash flows from finance leases$0.4  
Financing cash flows from finance leases$0.7  
Lease assets obtained in exchange for new lease obligations:
Operating leases$52.3  
Finance leases$31.3  
The weighted average remaining lease term and discount rate are as follows:
March 31, 2020
Weighted average remaining lease term (in years):
Operating leases9.8
Finance leases18.2
Weighted average discount rate:
Operating Leases3.9 %
Finance leases4.0 %
Schedule of Supplemental Balance Sheet Information Related to Leases Supplemental balance sheet information related to leases was as follows:
(in millions)Balance Sheet LocationMarch 31, 2020
Assets
Operating lease assetsOperating lease assets$525.8  
Finance lease assets (1)Property, plant and equipment, net32.0  
Total lease assets$557.8  
Liabilities
Operating leases:
Current operating lease liabilitiesOther current liabilities$83.6  
Non-current operating lease liabilitiesOperating lease liabilities465.6  
Finance leases:
Current finance lease liabilitiesCurrent portion of long-term debt1.8  
Non-current finance lease liabilitiesLong-term debt, less current portion32.1  
Total lease liabilities$583.1  
(1)Finance lease assets are recorded net of accumulated amortization of $8.7 million at March 31, 2020.
Schedule of Operating and Finance Lease Liabilities Maturity Under New Guidance Topic 842 Maturities of lease liabilities were as follows:
(in millions)Operating LeasesFinance Leases
Remainder of fiscal 2020$26.9  $0.9  
Fiscal 202195.5  2.9  
Fiscal 202284.9  2.8  
Fiscal 202373.3  2.6  
Fiscal 202463.1  2.6  
Thereafter319.6  34.9  
Total lease payments663.3  46.7  
Less: imputed interest114.1  12.8  
Present value of lease liabilities$549.2  $33.9  
Schedule of Company's Future Minimum Lease Commitments Under Previous Accounting Guidance Topic 840 The Company’s future minimum lease commitments as of June 30, 2019, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows:
(in millions)Operating Leases
Fiscal 2020$97.6  
Fiscal 202190.4  
Fiscal 202277.7  
Fiscal 202367.3  
Fiscal 202455.9  
Thereafter301.8  
Total minimum obligations$690.7