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Pension and Other Postretirement Benefits (Tables) | 12 Months Ended
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Jun. 30, 2014
Pension and Other Postretirement Benefits |
Schedule of reconciliation of benefit obligations, plan assets and funded status of the plans |
|  |  |  | Other |
|  | Pension Plans |  | Postretirement Plans |
($ in millions) |  | 2014 |  | 2013 |  | 2014 |  | 2013 |
Change in projected benefit obligation: |  |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 1,186.7 |  | $ | 1,218.1 |  | $ | 259.8 |  | $ | 282.2 |
Service cost |  | 32.1 |  | 32.5 |  | 4.0 |  | 4.4 |
Interest cost |  | 57.5 |  | 53.0 |  | 12.5 |  | 12.2 |
Benefits paid |  | (81.0 | ) | (70.6 | ) | (13.5 | ) | (13.1 | )
Actuarial loss (gain) |  | 53.2 |  | (45.7 | ) | 22.4 |  | (25.9 | )
Plan settlements |  | (0.2 | ) | (0.6 | ) | — |  | — |
Plan amendments |  | (1.3 | ) | — |  | — |  | — |
Projected benefit obligation at end of year |  | $ | 1,247.0 |  | $ | 1,186.7 |  | $ | 285.2 |  | $ | 259.8 |
Change in plan assets: |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 930.2 |  | $ | 770.9 |  | $ | 93.2 |  | $ | 85.3 |
Actual return |  | 165.7 |  | 82.3 |  | 13.7 |  | 8.2 |
Benefits paid |  | (81.0 | ) | (70.6 | ) | (13.5 | ) | (13.1 | )
Contributions |  | 9.8 |  | 148.2 |  | 13.1 |  | 12.8 |
Plan settlements |  | (0.3 | ) | (0.6 | ) | — |  | — |
Fair value of plan assets at end of year |  | $ | 1,024.4 |  | $ | 930.2 |  | $ | 106.5 |  | $ | 93.2 |
Funded status of the plans |  | $ | (222.6 | ) | $ | (256.5 | ) | $ | (178.7 | ) | $ | (166.6 | )
Schedule of amounts recognized in the consolidated balance sheets |
Amounts recognized in the consolidated balance sheets: |  |  |  |  |  |  |  |  |
Other assets - noncurrent |  | $ | 0.1 |  | $ | 0.1 |  | $ | — |  | $ | — |
Accrued liabilities - current |  | (19.3 | ) | (9.7 | ) | (15.5 | ) | (15.4 | )
Accrued pension liabilities - noncurrent |  | (203.4 | ) | (246.9 | ) | — |  | — |
Accrued postretirement benefits |  | — |  | — |  | (163.2 | ) | (151.2 | )
|  | $ | (222.6 | ) | $ | (256.5 | ) | $ | (178.7 | ) | $ | (166.6 | )
Schedule of amounts recognized in the accumulated other comprehensive loss |
|  |  |  |  |  | Other |
|  | Pension Plans |  | Postretirement Plans |
($ in millions) |  | 2014 |  | 2013 |  | 2014 |  | 2013 |
Amounts recognized in accumulated other comprehensive loss: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | $ | 341.2 |  | $ | 412.4 |  | $ | 50.8 |  | $ | 36.9 |
Prior service cost (credit) |  | 1.0 |  | 2.9 |  | — |  | (0.1 | )
Total |  | $ | 342.2 |  | $ | 415.3 |  | $ | 50.8 |  | $ | 36.8 |
Additional information: |  |  |  |  |  |  |  |  |
Accumulated benefit obligation for all pension plans |  | $ | 1,154.0 |  | $ | 1,072.3 |  | N/A |  | N/A |
Schedule of projected benefit obligations in excess of plan assets |
|  | Pension Plans |  | Other Postretirement Plans |
($ in millions) |  | 2014 |  | 2013 |  | 2014 |  | 2013 |
Projected benefit obligation |  | $ | 1,246.9 |  | $ | 1,186.6 |  | $ | 285.2 |  | $ | 259.8 |
Fair value of plan assets |  | $ | 1,024.2 |  | $ | 930.0 |  | $ | 106.5 |  | $ | 93.2 |
Schedule of accumulated benefit obligations in excess of plan assets |
|  | Pension Plans |  | Other Postretirement Plans |
($ in millions) |  | 2014 |  | 2013 |  | 2014 |  | 2013 |
Accumulated benefit obligation |  | $ | 1,153.9 |  | $ | 1,072.2 |  | $ | 285.2 |  | $ | 259.8 |
Fair value of plan assets |  | $ | 1,024.2 |  | $ | 930.0 |  | $ | 106.5 |  | $ | 93.2 |
Schedule of components of the net periodic benefit cost |
|  | Pension Plans |  | Other Postretirement Plans |
($ in millions) |  | 2014 |  | 2013 |  | 2012 |  | 2014 |  | 2013 |  | 2012 |
Service cost |  | $ | 32.1 |  | $ | 32.5 |  | $ | 23.0 |  | $ | 4.0 |  | $ | 4.4 |  | $ | 3.7 |
Interest cost |  | 57.5 |  | 53.0 |  | 51.3 |  | 12.5 |  | 12.2 |  | 11.8 |
Expected return on plan assets |  | (62.9 | ) | (54.8 | ) | (54.2 | ) | (6.5 | ) | (6.4 | ) | (6.4 | )
Amortization of net loss |  | 21.8 |  | 28.1 |  | 17.5 |  | 1.2 |  | 3.2 |  | 2.6 |
Amortization of prior service cost (benefit) |  | 0.5 |  | 0.7 |  | 0.7 |  | (0.1 | ) | (4.1 | ) | (7.9 | )
Net periodic benefit costs |  | $ | 49.0 |  | $ | 59.5 |  | $ | 38.3 |  | $ | 11.1 |  | $ | 9.3 |  | $ | 3.8 |
Schedule of weighted-average assumptions used to determine benefit obligations and net periodic benefit cost |
|  | Pension Plans |  | Other Postretirement Plans |
|  | 2014 |  | 2013 |  | 2012 |  | 2014 |  | 2013 |  | 2012 |
Weighted-average assumptions used to determine benefit obligations at fiscal year end |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  | 4.47 | % | 5.00 | % | 4.50 | % | 4.27 | % | 5.00 | % | 4.50 | %
Rate of compensation increase |  | 3.57 | % | 3.66 | % | 3.67 | % | N/A |  | N/A |  | N/A |
|  | Pension Plans |  | Other Postretirement Plans |
|  | 2014 |  | 2013 |  | 2012 |  | 2014 |  | 2013 |  | 2012 |
Weighted-average assumptions used to determine net periodic benefit cost for the fiscal year |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  | 5.00 | % | 4.50 | % | 5.50 | % | 4.95 | % | 4.50 | % | 5.50 | %
Expected long-term rate of return on plan assets |  | 7.00 | % | 7.00 | % | 7.50 | % | 7.00 | % | 7.50 | % | 8.00 | %
Long-term rate of compensation increase |  | 3.57 | % | 3.67 | % | 3.66 | % | N/A |  | N/A |  | N/A |
Schedule of expected health care cost trend rates |
|  | June 30, |
|  | 2014 |  | 2013 |
Assumed health care cost trend rate |  | 7.50 | % | 7.50 | %
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 |  | 2020 |  | 2020 |
Schedule of amounts in other comprehensive loss that are expected to be recognized as components of net periodic benefit cost |
|  |  |  | Other |  |  |
|  | Pension |  | Postretirement |  |  |
($ in millions) |  | Plans |  | Plans |  | Total |
Amortization of prior service cost |  | $ | 0.3 |  | $ | — |  | $ | 0.3 |
Amortization of net actuarial loss |  | 16.7 |  | 2.0 |  | 18.7 |
Amortization of accumulated other comprehensive loss |  | $ | 17.0 |  | $ | 2.0 |  | $ | 19.0 |
Schedule of weighted-average asset allocations by asset category |
|  | 2014 |  | 2013 |
Equity securities |  | 55.1 | % | 63.5 | %
Fixed income securities |  | 44.2 |  | 34.3 |
Cash and cash equivalents |  | 0.7 |  | 2.2 |
Total |  | 100.0 | % | 100.0 | %
Schedule of fair values of pension plan by assets category |
|  | June 30, 2014 |  | June 30, 2013 |
|  | Fair Value Measurements Using Input Type |  |  |  | Fair Value Measurements Using Input Type |  |  |
($ in millions) |  | Level 1 |  | Level 2 |  | Total |  | Level 1 |  | Level 2 |  | Total |
Short-term investments |  | $ | — |  | $ | 15.3 |  | $ | 15.3 |  | $ | — |  | $ | 13.7 |  | $ | 13.7 |
Domestic and international equities |  | 142.1 |  | — |  | 142.1 |  | 281.8 |  | — |  | 281.8 |
Commingled funds |  | 64.7 |  | 341.4 |  | 406.1 |  | 52.1 |  | 164.4 |  | 216.5 |
Limited partnerships |  | — |  | 52.0 |  | 52.0 |  | — |  | 137.9 |  | 137.9 |
Government agency bonds |  | 4.8 |  | 129.8 |  | 134.6 |  | 7.9 |  | 101.9 |  | 109.8 |
Corporate bonds |  | — |  | 248.1 |  | 248.1 |  | — |  | 149.8 |  | 149.8 |
Mutual funds |  | 2.9 |  | — |  | 2.9 |  | 2.5 |  | — |  | 2.5 |
Mortgage/asset backed securities and other |  | — |  | 23.3 |  | 23.3 |  | — |  | 18.2 |  | 18.2 |
|  | $ | 214.5 |  | $ | 809.9 |  | $ | 1,024.4 |  | $ | 344.3 |  | $ | 585.9 |  | $ | 930.2 |
Schedule of fair values of other postretirement benefit plans by asset category |
|  | June 30, 2014 |  | June 30, 2013 |
|  | Fair Value Measurements Using Input Type |  |  |  | Fair Value Measurements Using Input Type |  |  |
($ in millions) |  | Level 1 |  | Level 2 |  | Total |  | Level 1 |  | Level 2 |  | Total |
Commingled fund |  | $ | — |  | $ | 61.2 |  | $ | 61.2 |  | $ | — |  | $ | 51.4 |  | $ | 51.4 |
Short-term investments |  | — |  | 17.2 |  | 17.2 |  | — |  | 14.2 |  | 14.2 |
Government agency bonds |  | — |  | 18.6 |  | 18.6 |  | — |  | 15.9 |  | 15.9 |
Corporate bonds and other |  | — |  | 6.8 |  | 6.8 |  | — |  | 7.5 |  | 7.5 |
Mortgage backed securities |  | — |  | 2.7 |  | 2.7 |  | — |  | 4.2 |  | 4.2 |
|  | $ | — |  | $ | 106.5 |  | $ | 106.5 |  | $ | — |  | $ | 93.2 |  | $ | 93.2 |
Schedule of estimated future benefit payments |
|  | Pension |  | Other |
($ in millions) |  | Benefits |  | Benefits |
2015 |  | $ | 77.0 |  | $ | 15.4 |
2016 |  | $ | 77.6 |  | $ | 16.4 |
2017 |  | $ | 78.6 |  | $ | 17.2 |
2018 |  | $ | 80.7 |  | $ | 17.9 |
2019 |  | $ | 82.3 |  | $ | 18.4 |
2020-2024 |  | $ | 439.5 |  | $ | 95.9 |

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- Definition Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2417-114920 + Details
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