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Income Taxes - Summary of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Jun. 30, 2018
--- | --- | ---
Deferred tax assets: |  |
Pensions | $ 86.9 | $ 66.8
Postretirement provisions | 35.7 | 33.7
Net operating loss carryforwards | 28.8 | 26.5
Derivatives and hedging activities | 4.1 | 0.0
Other | 32.1 | 29.4
Gross deferred tax assets | 187.6 | 156.4
Valuation allowances | (24.6) | (23.9)
Total deferred tax assets | 163.0 | 132.5
Deferred tax liabilities: |  |
Depreciation | (249.5) | (235.2)
Intangible assets | (11.3) | (11.9)
Inventories | (36.1) | (30.5)
Derivatives and hedging activities | (0.3) | (8.7)
Other | (4.3) | (3.5)
Total deferred tax liabilities | (301.5) | (289.8)
Deferred tax liabilities, net | $ (138.5) | $ (157.3)

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