| Income Tax Disclosure [Abstract] | Period [Axis] |
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2015-07-01 - 2016-06-30 |
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Income Tax Disclosure [Abstract] | |
Earnings/(loss) from continuing operations before income taxes and discontinued operations | Earnings/(loss) from continuing operations before income taxes and discontinued operations are as follows for the fiscal years ended 2016, 2015, and 2014: | | | | | | | | | | | | | | Fiscal Year Ended
June 30, | (Dollars in millions) | 2016 | | 2015 | | 2014 | U.S. Operations | $ | 60.0 |
| | $ | 25.8 |
| | $ | (75.6 | ) | Non-U.S. Operation | $ | 84.9 |
| | $ | 86.7 |
| | $ | 143.0 |
| | $ | 144.9 |
| | $ | 112.5 |
| | $ | 67.4 |
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Provision/ (benefit) for income taxes |
The provision /(benefit) for income taxes consists of the following for the fiscal years ended 2016, 2015, and 2014: | | | | | | | | | | | | | | Fiscal Year Ended
June 30, | (Dollars in millions) | 2016 | | 2015 | | 2014 | Current: | | | | | | Federal | $ | (0.6 | ) | | $ | — |
| | $ | — |
| State and local | (0.2 | ) | | (0.8 | ) | | (1.2 | ) | Non-U.S. | 26.3 |
| | 31.9 |
| | 55.7 |
| Total | $ | 25.5 |
| | $ | 31.1 |
| | $ | 54.5 |
| Deferred: | | | | | | Federal | $ | 19.6 |
| | $ | (125.3 | ) | | $ | 5.3 |
| State and local | (4.8 | ) | | (1.1 | ) | | 0.4 |
| Non-U.S. | (6.6 | ) | | (2.4 | ) | | (10.7 | ) | Total | 8.2 |
| | (128.8 | ) | | (5.0 | ) | | | | | | | Total provision/(benefit) | $ | 33.7 |
| | $ | (97.7 | ) | | $ | 49.5 |
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Reconciliation of the provision/(benefit) based on the federal statutory income tax rate | A reconciliation of the provision/(benefit) based on the federal statutory income tax rate to the Company’s effective income tax rate is as follows for the fiscal years ended 2016, 2015, and 2014: | | | | | | | | | | | | | | Fiscal Year Ended
June 30, | (Dollars in millions) | 2016 | | 2015 | | 2014 | Provision at U.S. federal statutory tax rate | $ | 50.7 |
| | $ | 39.4 |
| | $ | 23.6 |
| State and local income taxes | (3.0 | ) | | (2.4 | ) | | 0.6 |
| Foreign tax rate differential | (21.7 | ) | | (23.9 | ) | | (25.5 | ) | Permanent items | (2.3 | ) | | 1.7 |
| | 24.6 |
| Unrecognized tax positions | 5.6 |
| | 14.7 |
| | 34.2 |
| Tax valuation allowance | 7.2 |
| | (133.2 | ) | | (9.5 | ) | Withholding tax and other foreign taxes | 0.6 |
| | 1.4 |
| | 6.2 |
| Change in tax rate | (3.2 | ) | | 1.3 |
| | (5.0 | ) | Foreign currency impact on permanently reinvested loans | — |
| | 2.7 |
| | — |
| R&D Tax Credit | (1.4 | ) | | (1.3 | ) | | (0.8 | ) | Other | 1.2 |
| | 1.9 |
| | 1.1 |
| | $ | 33.7 |
| | $ | (97.7 | ) | | $ | 49.5 |
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Components of the deferred income tax assets and liabilities | Deferred income taxes arise from temporary differences between financial reporting and tax reporting bases of assets and liabilities, and operating loss and tax credit carryforwards for tax purposes. The components of the deferred income tax assets and liabilities are as follows at June 30, 2016 and 2015: | | | | | | | | | | Fiscal Year Ended
June 30, | (Dollars in millions) | 2016 | | 2015 | Deferred income tax assets: | | | |
| Accrued liabilities | $ | 21.6 |
| | $ | 24.0 |
| Equity compensation | 10.7 |
| | 8.4 |
| Loss and tax credit carryforwards | 155.0 |
| | 204.0 |
| Foreign currency | 18.8 |
| | 16.2 |
| Pension | 45.9 |
| | 42.9 |
| Property-related | 9.3 |
| | 9.7 |
| Intangibles | 8.0 |
| | 10.5 |
| Other | 22.9 |
| | 17.1 |
| Total deferred income tax assets | 292.2 |
| | 332.8 |
| Valuation allowance | (69.9 | ) | | (82.4 | ) | Net deferred income tax assets | $ | 222.3 |
| | $ | 250.4 |
| | | | | | | | | | Fiscal Year Ended
June 30, | (Dollars in millions) | 2016 | | 2015 | Deferred income tax liabilities: | | | | Accrued liabilities | (0.6 | ) | | (0.6 | ) | Equity compensation | — |
| | — |
| Foreign currency | (0.9 | ) | | (0.4 | ) | Property-related | (53.9 | ) | | (44.5 | ) | Goodwill and other intangibles | (142.2 | ) | | (156.1 | ) | Other | (1.0 | ) | | (1.8 | ) | Euro Denominated Debt | (27.6 | ) | | (21.0 | ) | Total deferred income tax liabilities | $ | (226.2 | ) | | (224.4 | ) | | | | | Net deferred tax asset/(liability) | $ | (3.9 | ) | | $ | 26.0 |
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Deferred tax assets and liabilities | Deferred tax assets and liabilities in the preceding table are in the following captions in the balance sheet at June 30, 2016 and 2015: | | | | | | | | | | Fiscal Year Ended
June 30, | (Dollars in millions) | 2016 | | 2015 | Current deferred tax asset | $ | — |
| | $ | 19.7 |
| Non-current deferred tax asset | 37.5 |
| | 64.1 |
| Current deferred tax liability | — |
| | 1.5 |
| Non-current deferred tax liability | 41.4 |
| | 56.3 |
| Net deferred tax asset/(liability) | $ | (3.9 | ) | | $ | 26.0 |
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Reconciliation of Unrecognized tax benefit, excluding accrued interest | A reconciliation of our unrecognized tax benefits, excluding accrued interest, for June 30, 2016, June 30, 2015 and June 30, 2014 are as follows: | | | | | (Dollars in millions) | Balance at June 30, 2014 | $ | 60.6 |
| Additions based on tax positions related to the current year | 7.3 |
| Additions for tax positions of prior years | 5.5 |
| Reductions for tax positions of prior years | (5.4 | ) | Settlements | (0.5 | ) | Lapse of the applicable statute of limitations | (0.6 | ) | Balance at June 30, 2015 | $ | 66.9 |
| Additions based on tax positions related to the current year | 6.2 |
| Additions for tax positions of prior years | — |
| Reductions for tax positions of prior years | (11.0 | ) | Settlements | — |
| Lapse of the applicable statute of limitations | (0.6 | ) | Balance at June 30, 2016 | $ | 61.5 |
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