v3.26.1
Inventories
 12 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
Inventories Inventories
 
Inventories consisted of the following components at June 30, 2026 and 2025:
    
June 30,
($ in millions)20262025
Raw materials and supplies$177.8 $199.7 
Work in process493.8 454.9 
Finished and purchased products151.3 139.2 
Total inventories$822.9 $793.8 
 
Inventories are valued at the lower of cost or market. Cost for inventories is principally determined using the LIFO costing method. The Company values other inventory at the lower of cost or net realizable value, determined by the FIFO and average cost methods. If the FIFO method of inventory had been used instead of the LIFO method, inventories would have been $432.6 million and $344.5 million higher as of June 30, 2026 and 2025, respectively. Current cost of LIFO-valued inventories was $1.1 billion at June 30, 2026, and $993.1 million at June 30, 2025. There was no impact to cost of sales, net income or earnings per share from changes in LIFO-valued inventories during fiscal years 2026 or 2025. There were $0.0 million and $2.5 million of inventory impairments recorded in fiscal years 2026 and 2025.