PENSION AND POST-RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Jun. 30, 2015

PENSION, DEFERRED COMPENSATION AND POST-RETIREMENT BENEFIT PLANS

Significant components of pension and other retirement benefit plans

	Pension Plans												Other than Pension Plans
	U.S.						International						Post-retirement
(In millions)	2015			2014			2015			2014			2015			2014
Change in benefit obligation:
Benefit obligation at beginning of year	$	755.2		$	676.0		$	598.7		$	508.6		$	186.7		$	169.7
Service cost	31.7			31.6			23.8			24.8			3.3			3.4
Interest cost	30.4			31.2			17.3			19.1			7.6			8.0
Plan participant contributions	—			—			3.2			3.5			0.8			0.8
Actuarial loss (gain)	10.0			51.4			38.6			41.4			(11.9		)	12.3
Foreign currency exchange rate impact	—			—			(65.1		)	34.9			(4.1		)	(0.5		)
Benefits, expenses, taxes and premiums paid	(32.9		)	(36.8		)	(24.9		)	(21.5		)	(7.1		)	(7.0		)
Plan amendments	—			1.8			—			(8.5		)	—			—
Settlements and curtailments	—			—			(5.9		)	(3.6		)	—			—
Special termination benefits	—			—			0.5			—			—			—
Benefit obligation at end of year	$	794.4		$	755.2		$	586.2		$	598.7		$	175.3		$	186.7
Change in plan assets:
Fair value of plan assets at beginning of year	$	723.0		$	659.7		$	513.7		$	438.6		$	31.7		$	27.7
Actual return on plan assets	1.0			92.9			59.5			35.7			0.2			4.0
Foreign currency exchange rate impact	—			—			(51.6		)	33.1			—			—
Employer contributions	29.9			7.2			22.8			27.9			6.3			6.2
Plan participant contributions	—			—			3.2			3.5			0.8			0.8
Settlements	—			—			(3.4		)	(3.6		)	—			—
Benefits, expenses, taxes and premiums paid from plan assets	(32.9		)	(36.8		)	(24.9		)	(21.5		)	(7.1		)	(7.0		)
Fair value of plan assets at end of year	$	721.0		$	723.0		$	519.3		$	513.7		$	31.9		$	31.7
Funded status	$	(73.4	)	$	(32.2	)	$	(66.9	)	$	(85.0	)	$	(143.4	)	$	(155.0	)
Amounts recognized in the Balance Sheet consist of:
Other assets	$	44.3		$	79.5		$	68.8		$	55.7		$	—		$	—
Other accrued liabilities	(14.4		)	(14.1		)	(3.3		)	(6.6		)	(6.1		)	(6.2		)
Other noncurrent liabilities	(103.3		)	(97.6		)	(132.4		)	(134.1		)	(137.3		)	(148.8		)
Funded status	(73.4		)	(32.2		)	(66.9		)	(85.0		)	(143.4		)	(155.0		)
Accumulated other comprehensive loss	198.6			149.8			125.1			153.5			22.5			34.9
Net amount recognized	$	125.2		$	117.6		$	58.2		$	68.5		$	(120.9	)	$	(120.1	)

Net periodic benefit costs and weighted-average assumptions

	Pension Plans																		Other than Pension Plans
	U.S.									International									Post-retirement
($ in millions)	2015			2014			2013			2015			2014			2013			2015			2014			2013
Components of net periodic benefit cost:
Service cost	$	31.7		$	31.6		$	33.8		$	23.8		$	24.8		$	24.0		$	3.3		$	3.4		$	4.3
Interest cost	30.4			31.2			26.6			17.3			19.1			17.9			7.6			8.0			7.8
Expected return on assets	(50.1		)	(46.8		)	(45.2		)	(21.5		)	(20.8		)	(19.2		)	(2.3		)	(2.0		)	(2.0		)
Amortization of:
Actuarial loss (gain)	9.8			7.4			14.5			10.4			9.2			9.3			1.5			0.8			4.4
Prior service cost	0.6			0.7			0.7			2.1			2.9			2.8			0.8			0.8			0.8
Transition (asset) obligation	—			—			—			—			—			(0.1		)	—			—			—
Settlements	—			—			—			(0.5		)	0.6			0.7			—			—			—
Curtailments	—			—			—			(0.9		)	—			(0.2		)	—			—			—
Special termination benefits	—			—			—			0.5			—			2.2			—			—			—
Net periodic benefit cost	$	22.4		$	24.1		$	30.4		$	31.2		$	35.8		$	37.4		$	10.9		$	11.0		$	15.3

Weighted-average assumptions used to determine benefit obligations at June 30:
Discount rate	3.70 — 4.40	%	3.60 — 4.30	%	4.30 — 4.90	%	.75 — 7.00	%	.50 — 6.75	%	1.00 — 7.25	%	4.25 — 9.00	%	4.10 — 9.00	%	4.75 — 8.75	%
Rate of compensation increase	3.00 — 7.00	%	3.00 — 7.00	%	4.00 — 12.00	%	0 — 5.50	%	1.00 — 5.50	%	1.00 — 5.50	%	N/A		N/A		N/A
Weighted-average assumptions used to determine net periodic benefit cost for the year ended June 30:
Discount rate	3.60 — 4.30	%	4.30 — 4.90	%	3.90	%	.50 — 6.75	%	1.00 — 7.25	%	1.00 — 7.00	%	4.10 — 9.00	%	4.75 — 8.75	%	3.70 — 8.65	%
Expected return on assets	7.50	%	7.50	%	7.50	%	2.00 — 6.75	%	2.25 — 7.25	%	2.25 — 7.00	%	7.50	%	7.50	%	7.50	%
Rate of compensation increase	3.00 — 7.00	%	4.00 — 12.00	%	4.00 — 12.00	%	1.00 — 5.50	%	1.00 — 5.50	%	1.00 — 6.00	%	N/A		N/A		N/A

Impact of one-percentage-point change in assumed health care cost trend rates

(In millions)	One-Percentage-Point Increase		One-Percentage-Point Decrease
Effect on total service and interest costs	$	1.3	$	(1.0	)
Effect on post-retirement benefit obligations	$	15.1	$	(10.1	)

Amounts recognized in AOCI (before tax)

	Pension Plans						Other than Pension Plans
(In millions)	U.S.			International			Post-retirement			Total
Net actuarial losses, beginning of year	$	145.7		$	148.2		$	31.6		$	325.5
Actuarial (gains) losses recognized	59.2			(1.2		)	(9.7		)	48.3
Amortization and settlements included in net periodic benefit cost	(9.8		)	(9.9		)	(1.5		)	(21.2		)
Translation adjustments	—			(14.9		)	(0.4		)	(15.3		)
Net actuarial losses, end of year	195.1			122.2			20.0			337.3
Net prior service cost (credit), beginning of year	4.1			5.3			3.3			12.7
Amortization and curtailments included in net periodic benefit cost	(0.6		)	(1.9		)	(0.8		)	(3.3		)
Translation adjustments	—			(0.5		)	—			(0.5		)
Net prior service cost, end of year	3.5			2.9			2.5			8.9
Total amounts recognized in AOCI	$	198.6		$	125.1		$	22.5		$	346.2

Amounts in AOCI expected to be amortized as components of net periodic benefit cost during next fiscal year

	Pension Plans				Other than Pension Plans
(In millions)	U.S.		International		Post-retirement
Prior service cost	$	0.6	$	2.0	$	0.8
Net actuarial loss	$	11.2	$	10.9	$	0.4

Projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company's pension plans

	Pension Plans
	Retirement Growth Account				Restoration				International
(In millions)	2015		2014		2015		2014		2015		2014
Projected benefit obligation	$	676.7	$	643.5	$	117.7	$	111.7	$	586.2	$	598.7
Accumulated benefit obligation	$	632.9	$	598.4	$	103.9	$	97.0	$	524.1	$	531.4
Fair value of plan assets	$	721.0	$	723.0	$	—	$	—	$	519.3	$	513.7

Expected Cash Flows

	Pension Plans				Other than Pension Plans
(In millions)	U.S.		International		Post-retirement
Expected employer contributions for year ending June 30, 2016	$	—	$	23.3	$	—
Expected benefit payments for year ending June 30,
2016	64.5		18.9		6.2
2017	62.4		20.3		7.0
2018	61.0		20.4		7.6
2019	56.9		19.9		8.3
2020	59.2		20.0		9.2
Years 2021 — 2025	306.1		133.3		57.2

Target Asset Allocation

	Pension Plans				Other than Pension Plans
	U.S.		International		Post-retirement
Equity	30	%	20	%	30	%
Debt securities	39	%	48	%	39	%
Other	31	%	32	%	31	%
	100	%	100	%	100	%

Fair values of the Company's pension and post-retirement plan assets by asset category

The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2015:

(In millions)	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	2.8	$	—	$	—	$	2.8
Short-term investment funds	—		53.1		—		53.1
Government and agency securities	—		30.5		—		30.5
Equity securities	22.8		—		—		22.8
Debt instruments	—		168.9		—		168.9
Commingled funds	247.5		550.4		35.0		832.9
Insurance contracts	—		—		40.4		40.4
Limited partnerships and hedge fund investments	—		106.8		14.0		120.8
Total	$	273.1	$	909.7	$	89.4	$	1,272.2

The following table presents the fair values of the Company’s pension and post-retirement plan assets by asset category as of June 30, 2014:

(In millions)	Level 1		Level 2		Level 3		Total
Short-term investment funds	$	22.4	$	28.0	$	—	$	50.4
Government and agency securities	—		39.7		—		39.7
Equity securities	44.1		—		—		44.1
Debt instruments	—		173.8		—		173.8
Commingled funds	251.2		504.4		34.5		790.1
Insurance contracts	—		—		51.2		51.2
Limited partnerships and hedge fund investments	—		52.2		67.0		119.2
Total	$	317.7	$	798.1	$	152.7	$	1,268.5

Changes in Level 3 plan assets

(In millions)	Commingled Funds			Insurance Contracts			Limited Partnerships and Hedge Fund Investments			Total
Balance as of June 30, 2014	$	34.5		$	51.2		$	67.0		$	152.7
Actual return on plan assets:
Relating to assets still held at the reporting date	3.1			2.4			1.8			7.3
Relating to assets sold during the year	1.1			—			0.1			1.2
Transfers in (out)	—			—			(54.6		)	(54.6		)
Purchases, sales, issuances and settlements, net	(1.0		)	(3.7		)	(0.3		)	(5.0		)
Foreign exchange impact	(2.7		)	(9.5		)	—			(12.2		)
Balance as of June 30, 2015	$	35.0		$	40.4		$	14.0		$	89.4