Shareholders' Equity (Tables)

9 Months Ended

Mar. 31, 2020

Schedule of Changes in Ordinary and Treasury Shares

The changes in ordinary and treasury shares during the nine months ended March 31, 2020 and 2019 were as follows:


	Ordinary Shares				Treasury Shares
(shares and $ in millions)	Number of Shares	Amount		Number of Shares	Amount
Balance as of June 30, 2018	1,158.1	$	—	0.9	$	(10.7)

Options exercised and shares vested				(3.7)	37.5
Settlement of forward contracts to purchase own equity to meet share base incentive plans, net of tax				2.5	(25.1)
Purchase of treasury shares				3.1	(32.2)
Issuance of treasury shares under dividend reinvestment plan				(1.3)	13.0
Balance as of March 31, 2019	1,158.1	$	—	1.5	$	(17.5)

Balance as of June 30, 2019	1,625.9	$	16.3	1.4	$	(16.1)
Share buy-back/cancellations	(51.5)	(0.5)
Options exercised and shares vested				(1.4)	16.0

Purchase of treasury shares				1.1	(11.3)
Balance as of March 31, 2020	1,574.4	$	15.8	1.1	$	(11.4)

Schedule of Accumulated Other Comprehensive Income (Loss)

The changes in the components of accumulated other comprehensive income (loss) during the nine months ended March 31, 2020 and 2019 were as follows:


	Foreign Currency Translation		Net Investment Hedge		Pension		Effective Derivatives		Total Accumulated Other Comprehensive Income (Loss)
($ in millions)	(Net of Tax)		(Net of Tax)		(Net of Tax)		(Net of Tax)
Balance as of June 30, 2018	$	(669.3)	$	—	$	(30.6)	$	(8.6)	$	(708.5)
Other comprehensive income (loss) before reclassifications	29.5		(13.3)		(31.1)		(4.7)		(19.6)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		1.1		1.6		2.7
Net current period other comprehensive income (loss)	29.5		(13.3)		(30.0)		(3.1)		(16.9)
Balance as of March 31, 2019	$	(639.8)	$	(13.3)	$	(60.6)	$	(11.7)	$	(725.4)

Balance as of June 30, 2019	$	(609.4)	$	(11.2)	$	(89.6)	$	(12.2)	$	(722.4)
Other comprehensive income (loss) before reclassifications	(317.1)		(3.2)		(1.4)		(29.4)		(351.1)
Amounts reclassified from accumulated other comprehensive income (loss)	8.8		—		3.0		3.8		15.6
Net current period other comprehensive income (loss)	(308.3)		(3.2)		1.6		(25.6)		(335.5)
Balance as of March 31, 2020	$	(917.7)	$	(14.4)	$	(88.0)	$	(37.8)	$	(1,057.9)

Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

The following tables provide details of amounts reclassified from accumulated other comprehensive income (loss):


	Three Months Ended March 31,						Nine Months Ended March 31,
($ in millions)	2020		2019		2020		2019
Amortization of pension:
Amortization of prior service credit	$	(0.4)	$	(0.5)	$	(1.2)	$	(1.5)
Amortization of actuarial loss	1.5		1.0		4.5		3.0
Effect of pension settlement/curtailment	—		—		—		(0.3)
Total before tax effect	1.1		0.5		3.3		1.2
Tax benefit on amounts reclassified into earnings	—		(0.1)		(0.3)		(0.1)
Total net of tax	$	1.1	$	0.4	$	3.0	$	1.1

(Gains) losses on cash flow hedges:
Commodity contracts	$	0.8	$	0.7	$	3.9	$	0.5
Forward exchange contracts	(0.2)		0.5		0.6		1.1
Total before tax effect	0.6		1.2		4.5		1.6
Tax benefit on amounts reclassified into earnings	—		—		(0.7)		—
Total net of tax	$	0.6	$	1.2	$	3.8	$	1.6

(Gains) losses on foreign currency translation:
Foreign currency translation adjustment (1)	$	—	$	—	$	8.8	$	—
Total before tax effect	—		—		8.8		—
Tax benefit on amounts reclassified into earnings	—		—		—		—
Total net of tax	$	—	$	—	$	8.8	$	—

(1)During the first fiscal quarter of 2020, the Company recorded a loss on the sale of the EC Remedy of $8.8 million, which is the result of the reclassification of accumulated foreign currency translation amounts from accumulated other comprehensive income to earnings. Refer to Note 4, "Discontinued Operations" for more information.