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Business Segments | 9 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Business Segments | Business Segments The Company has two reportable segments, Specialty Alloys Operations ("SAO") and Performance Engineered Products ("PEP"). The SAO segment is comprised of the Company's major premium alloy and stainless steel manufacturing operations. This includes operations performed at mills primarily in Reading and Latrobe, Pennsylvania and surrounding areas as well as South Carolina and Alabama. The combined assets of the SAO operations are managed in an integrated manner to optimize efficiency and profitability across the total system. The PEP segment is comprised of the Company's differentiated operations. This segment includes the Dynamet titanium business, the Carpenter Additive business and the Latrobe and Mexico distribution businesses. The businesses in the PEP segment are managed with an entrepreneurial structure to promote flexibility and agility to quickly respond to market dynamics. The Company's executive management evaluates the performance of these operating segments based on sales, operating income and cash flow generation. Segment operating results exclude general corporate costs, which include executive and director compensation and other corporate facilities and administrative expenses not allocated to the segments. Also excluded are items that management considers not representative of ongoing operations, such as restructuring charges and other specifically-identified income or expense items. On a consolidated basis, no single customer accounted for 10 percent or more of net sales for the three and nine months ended March 31, 2024 or March 31, 2023. On a consolidated basis, no single customer accounted for 10 percent or more of accounts receivable outstanding at March 31, 2024 or June 30, 2023.
Net Sales |  | Three Months Ended March 31, |  | Nine Months Ended March 31,
($ in millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Specialty Alloys Operations |  | $ | 608.5 |  |  | $ | 603.4 |  |  | $ | 1,728.0 |  |  | $ | 1,546.6 |
Performance Engineered Products |  | 102.4 |  |  | 115.1 |  |  | 299.9 |  |  | 315.1 |
Intersegment |  | (26.0) |  |  | (28.4) |  |  | (66.8) |  |  | (69.6) |
Consolidated net sales |  | $ | 684.9 |  |  | $ | 690.1 |  |  | $ | 1,961.1 |  |  | $ | 1,792.1 |
Operating Income |  | Three Months Ended March 31, |  | Nine Months Ended March 31,
($ in millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Specialty Alloys Operations |  | $ | 103.5 |  |  | $ | 49.0 |  |  | $ | 267.6 |  |  | $ | 99.1 |
Performance Engineered Products |  | 9.2 |  |  | 10.2 |  |  | 25.4 |  |  | 25.9 |
Corporate |  | (37.1) |  |  | (19.6) |  |  | (79.1) |  |  | (53.1) |
Intersegment |  | 0.3 |  |  | (0.3) |  |  | 0.9 |  |  | (1.7) |
Consolidated operating income |  | $ | 75.9 |  |  | $ | 39.3 |  |  | $ | 214.8 |  |  | $ | 70.2 |
Depreciation and Amortization |  | Three Months Ended March 31, |  | Nine Months Ended March 31,
($ in millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Specialty Alloys Operations |  | $ | 28.8 |  |  | $ | 27.5 |  |  | $ | 85.0 |  |  | $ | 81.9 |
Performance Engineered Products |  | 4.1 |  |  | 4.0 |  |  | 12.1 |  |  | 11.7 |
Corporate |  | 1.2 |  |  | 1.3 |  |  | 3.7 |  |  | 3.9 |
Consolidated depreciation and amortization |  | $ | 34.1 |  |  | $ | 32.8 |  |  | $ | 100.8 |  |  | $ | 97.5 |
Capital Expenditures |  | Three Months Ended March 31, |  | Nine Months Ended March 31,
($ in millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Specialty Alloys Operations |  | $ | 17.6 |  |  | $ | 18.0 |  |  | $ | 56.6 |  |  | $ | 45.4 |
Performance Engineered Products |  | 3.2 |  |  | 2.0 |  |  | 9.4 |  |  | 5.1 |
Corporate |  | 0.8 |  |  | 0.5 |  |  | 2.9 |  |  | 1.0 |
Consolidated capital expenditures |  | $ | 21.6 |  |  | $ | 20.5 |  |  | $ | 68.9 |  |  | $ | 51.5 |
Total Assets |  | March 31, 2024 |  | June 30, 2023
($ in millions) |  |
Specialty Alloys Operations |  | $ | 2,558.3 |  |  | $ | 2,461.2 |
Performance Engineered Products |  | 446.6 |  |  | 451.6 |
Corporate |  | 191.0 |  |  | 159.0 |
Intersegment |  | (19.7) |  |  | (17.9) |
Consolidated total assets |  | $ | 3,176.2 |  |  | $ | 3,053.9 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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