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Derivatives and Hedging Activities (Tables) | 12 Months Ended
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Jun. 30, 2019
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, 2019 and 2018:
June 30, 2019 ($ in millions) |  | Interest Rate Swaps |  | Foreign Currency Contracts |  | Commodity Contracts |  | Total Derivatives
Asset Derivatives: |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | 0.3 |  |  | $ | 0.6 |  |  | $ | 3.8 |  |  | $ | 4.7 |
Other assets |  | 1.6 |  |  | 0.2 |  |  | 6.0 |  |  | 7.8 |
Total asset derivatives |  | $ | 1.9 |  |  | $ | 0.8 |  |  | $ | 9.8 |  |  | $ | 12.5 |
Liability Derivatives: |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | — |  |  | $ | — |  |  | $ | 16.7 |  |  | $ | 16.7 |
Other liabilities |  | — |  |  | — |  |  | 11.3 |  |  | 11.3 |
Total liability derivatives |  | $ | — |  |  | $ | — |  |  | $ | 28.0 |  |  | $ | 28.0 |
June 30, 2018 ($ in millions) |  | Interest Rate Swaps |  | Foreign Currency Contracts |  | Commodity Contracts |  | Total Derivatives
Asset Derivatives: |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | 0.1 |  |  | $ | 0.4 |  |  | $ | 15.3 |  |  | $ | 15.8 |
Other assets |  | — |  |  | — |  |  | 19.4 |  |  | 19.4 |
Total asset derivatives |  | $ | 0.1 |  |  | $ | 0.4 |  |  | $ | 34.7 |  |  | $ | 35.2 |
Liability Derivatives: |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |
Other liabilities |  | 2.9 |  |  | — |  |  | 0.4 |  |  | 3.3 |
Total liability derivatives |  | $ | 2.9 |  |  | $ | 0.1 |  |  | $ | 0.4 |  |  | $ | 3.4 |
Summary of the gains (losses) related to cash flow hedges | The following is a summary of the gains (losses) related to cash flow hedges recognized during the years ended June 30, 2019, 2018 and 2017:
|  | Amount of Gain (Loss) Recognized in AOCI on Derivatives Years Ended June 30,
($ in millions) |  | 2019 |  | 2018 |  | 2017
Derivatives in Cash Flow Hedging Relationship: |  |  |  |  |  |  |  |  |
Commodity contracts |  | $ | 45.4 |  |  | $ | 41.4 |  |  | $ | 9.4 |
Foreign exchange contracts |  | (0.9 | ) |  | (0.4 | ) |  | (0.1 | )
Total |  | $ | 44.5 |  |  | $ | 41.0 |  |  | $ | 9.3 |
|  |  |  | Amount of Gain (Loss) Reclassified from AOCI into Income Years Ended June 30,
($ in millions) |  | Location of Gain (Loss) Reclassified from AOCI into Income |  | 2019 |  | 2018 |  | 2017
Derivatives in Cash Flow Hedging Relationship: |  |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | Cost of sales |  | $ | 5.1 |  |  | $ | 3.8 |  |  | $ | (22.8 | )
Foreign exchange contracts |  | Net sales |  | 1.0 |  |  | (1.0 | ) |  | 0.5 |
Forward interest rate swaps |  | Interest expense |  | 0.4 |  |  | 0.4 |  |  | 0.4 |
Total |  |  |  | $ | 6.5 |  |  | $ | 3.2 |  |  | $ | (21.9 | )
The following is a summary of total amounts presented in the consolidated statements of income in which the effects of cash flow and fair value hedges are recorded during the years ended June 30, 2019 and 2018:
|  | Year Ended June 30, 2019 |  | Year Ended June 30, 2018
($ in millions) |  | Net Sales |  | Cost of Sales |  | Interest Expense |  | Net Sales |  | Cost of Sales |  | Interest Expense
Total amounts presented in the consolidated statements of income in which the effects of cash flow and fair value hedges are recorded |  | $ | 2,380.2 |  |  | $ | 1,935.4 |  |  | $ | 26.0 |  |  | $ | 2,157.7 |  |  | $ | 1,775.4 |  |  | $ | 28.3 |
Gain (loss) on Derivatives in Cash Flow Hedging Relationship: |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain reclassified from AOCI to income |  | — |  |  | 5.1 |  |  | — |  |  | — |  |  | 3.8 |  |  | — |
Foreign currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain (loss) reclassified from AOCI to income |  | 1.0 |  |  | — |  |  | — |  |  | (1.0 | ) |  | — |  |  | — |
Interest rate swap agreements |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain reclassified from AOCI to income |  | — |  |  | — |  |  | 0.4 |  |  | — |  |  | — |  |  | 0.4 |
Gain (Loss) on Derivatives in Fair Value Hedging Relationship: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements |  |  |  |  |  |  |  |  |  |  |  |
Hedged Item |  | — |  |  | — |  |  | 0.2 |  |  | — |  |  | — |  |  | (0.4 | )
Derivatives designated as hedging instruments |  | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | — |  |  | 0.4 |
Total gain (loss) |  | $ | 1.0 |  |  | $ | 5.1 |  |  | $ | 0.4 |  |  | $ | (1.0 | ) |  | $ | 3.8 |  |  | $ | 0.4 |
Summary of amounts recorded in balance sheet related to cumulative basis adjustment for fair value interest rate risk hedges | As of June 30, 2019, and June 30, 2018, the following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges of interest rate risk:
|  | Carrying amount of the hedged liabilities |  | Cumulative amount of fair value loss (gain) in the carrying amount of the hedged liabilities
($ in millions) |  | June 30, 2019 |  | June 30, 2018 |  | June 30, 2019 |  | June 30, 2018
Line item in the consolidated balance sheets in which the hedged item is included: |  |  |  |  |  |  |  |
Long-Term Debt |  | $ | 151.6 |  |  | $ | 147.1 |  |  | $ | 1.6 |  |  | $ | (2.9 | )
Schedule of changes in AOCI associated with derivative hedging activities | The changes in AOCI associated with derivative hedging activities during the years ended June 30, 2019, 2018 and 2017 were as follows:
($ in millions) |  | 2019 |  | 2018 |  | 2017
Balance, beginning |  | $ | 23.8 |  |  | $ | (2.3 | ) |  | $ | (21.8 | )
Cumulative adjustment upon adoption of ASU 2017-12 reclassified to reinvested earnings |  | (1.0 | ) |  | — |  |  | — |
Current period changes in fair value, net of tax |  | (32.7 | ) |  | 26.9 |  |  | 5.8 |
Reclassification to earnings, net of tax |  | (4.9 | ) |  | (0.8 | ) |  | 13.7 |
Balance, ending |  | $ | (14.8 | ) |  | $ | 23.8 |  |  | $ | (2.3 | )

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