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Inventories (Tables)
6 Months Ended
Dec. 31, 2015
Inventory Disclosure [Abstract]  
Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or market (estimated net realizable value) and consisted of the following (in millions):

 

 

 

December 31,

 

 

June 30,

 

 

 

2015

 

 

2015

 

Raw materials

 

$

68.4

 

 

$

75.5

 

Finished goods

 

 

68.2

 

 

 

64.7

 

 

 

$

136.6

 

 

$

140.2

 

 

We record a liability for estimated probable losses on inventory purchase commitments.