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Property, Plant, Equipment and Software, net | 12 Months Ended
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Jun. 30, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant, Equipment and Software, net | Property, Plant, Equipment and Software, net Property, plant, equipment and software, net consisted of the following components at June 30, 2024 and 2023:
|  | June 30,
($ in millions) |  | 2024 |  | 2023
Land |  | $ | 40.6 |  |  | $ | 40.0 |
Buildings and building equipment |  | 562.7 |  |  | 555.5 |
Machinery and equipment |  | 2,454.4 |  |  | 2,391.1 |
Capitalized software |  | 225.3 |  |  | 220.5 |
Construction in progress |  | 68.2 |  |  | 92.7 |
Total at cost |  | 3,351.2 |  |  | 3,299.8 |
Less: accumulated depreciation and amortization |  | 2,016.0 |  |  | 1,916.0 |
Total property, plant, equipment and software, net |  | $ | 1,335.2 |  |  | $ | 1,383.8 |
The estimated useful lives of depreciable assets are as follows:
Asset Category |  | Useful Life (in Years)
Buildings and building equipment |  | 10 – 45
Machinery and equipment |  | 3 – 30
Capitalized software |  | 3 – 15
Depreciation for the years ended June 30, 2024, 2023 and 2022 was $111.8 million, $107.9 million and $107.6 million, respectively. Amortization related to capitalized software amounted to $16.3 million, $16.3 million and $16.9 million for the years ended June 30, 2024, 2023 and 2022, respectively. As a result of the actions taken to streamline operations in the Carpenter Additive business, the Company announced the planned closure of the Carpenter Additive operations in the United Kingdom. As a result, the Company recorded impairment charges of $8.8 million related to property, plant, equipment and software during fiscal year 2024.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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