SEGMENT REPORTING

12 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

Operating segments (referred to as “segments”) include components of the enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company has designated its Chief Executive Officer as the CODM.

The Company has determined that its operating and reportable segments are Fragrances, Color Cosmetics and Skin & Body Care (also referred to as “segments”). The reportable segments also represent the Company’s product groupings. In addition to reflecting the Company’s business model, these segments also reflect how the CODM reviews operating results when making decisions about resources to be allocated to the segments and when assessing their performance. Fragrances products include a variety of men’s and women’s products and include fashion designer, celebrity and lifestyle brands. Color Cosmetics products include nail and other color cosmetics, consisting of lip, eye and other facial color products. Skin & Body Care products include shower gels, deodorants, skin care and sun treatment products.

The Company evaluates segment performance based on several factors, including Operating income (loss). The Company uses Operating income (loss) as a measure of the segment performance as it excludes the impact of corporate-driven decisions related to interest expense and income taxes.

The items within Corporate relate to corporate-based responsibilities and decisions and are not used by the CODM to measure the underlying performance of the segments. Corporate primarily includes a component of share-based compensation expense, restructuring costs and certain other expense items not attributable to ongoing operating activities of the segments.

From June 12, 2013, the effective date of the share-based compensation plan amendments, the component of share-based compensation expense included in Corporate represents the difference between equity plan accounting, using the grant date fair value, which the Company uses to measure the performance of the Company’s segments and equity plan accounting using the June 12, 2013 fair value which the Company uses to measure share-based compensation in the Consolidated Financial Statements. Prior to June 12, 2013, the component of the share-based compensation expense included in Corporate represented the difference between share-based compensation expense accounted for under equity plan accounting based on grant date fair value which the Company used to measure the performance of the Company’s segments, and under liability plan accounting, which the Company used to measure the share-based compensation in the Consolidated Financial Statements.

With the exception of goodwill and acquired intangible assets, the Company does not identify or monitor assets by segment. The Company does not present assets by reportable segment since various assets are shared between reportable segments. The allocation of goodwill and acquired intangible assets by segment is presented in Note 10.

	Year Ended June 30,
SEGMENT DATA	2014			2013			2012
Net revenues:
Fragrances	$	2,498.2		$	2,490.7		$	2,452.8
Color Cosmetics	1,366.2			1,468.5			1,430.6
Skin & Body Care	687.2			689.9			727.9
Total	$	4,551.6		$	4,649.1		$	4,611.3
Depreciation and amortization:
Fragrances	$	86.2		$	82.5		$	82.5
Color Cosmetics	82.3			81.2			79.3
Skin & Body Care	43.2			46.5			43.2
Corporate	39.0			49.4			41.0
Total	$	250.7		$	259.6		$	246.0
Operating income (loss):
Fragrances	$	355.6		$	369.7		$	340.5
Color Cosmetics	154.2			208.8			200.2
Skin & Body Care	(351.7		)	(5.7		)	(577.8		)
Corporate	(132.4		)	(178.4		)	(172.4		)
Total	$	25.7		$	394.4		$	(209.5	)
Reconciliation:
Operating income (loss)	$	25.7		$	394.4		$	(209.5	)
Interest expense, net	68.5			76.5			89.6
Other expense (income), net	1.3			(0.8		)	32.0
(Loss) income before income taxes	$	(44.1	)	$	318.7		$	(331.1	)

	Year Ended June 30,
	2014		2013		2012
GEOGRAPHIC DATA
Net revenues:
Americas(a)	$	1,703.8	$	1,914.8	$	1,874.5
EMEA(b)	2,302.9		2,188.9		2,218.0
Asia Pacific(c)	544.9		545.4		518.8
Total	$	4,551.6	$	4,649.1	$	4,611.3

^(a)  includes North & South America

^(b)  includes Europe, Middle East and Africa

^(c)includes Asia and Australia

	Year Ended June 30,
	2014		2013		2012
Net revenues:
U.S.	$	1,338.6	$	1,537.4	$	1,510.9
Switzerland(a):
Travel Retail and Export	497.8		500.6		491.6
United Kingdom	415.1		388.1		373.3
Netherlands	93.8		98.1		102.1
Domestic	34.8		36.3		38.3
Total Switzerland	1,041.5		1,023.1		1,005.3
Germany	451.8		442.2		442.7
All other	1,719.7		1,646.4		1,652.4
Total	$	4,551.6	$	4,649.1	$	4,611.3
Long-lived assets:
U.S.	$	2,921.2	$	2,924.3	$	2,926.8
All other	799.0		1,076.2		1,063.4
Total	$	3,720.2	$	4,000.5	$	3,990.2

^(a)  The Company’s subsidiaries in Switzerland generate revenues from sales in the United Kingdom (“U.K.”), the Netherlands and domestic sales in Switzerland as well as the Travel Retail and Export business (which sells to a large number of travel outlets, including duty free shops, airlines and other tax-free zones in several countries), as specified separately in the table above.

For Net revenues, a major country is defined as a group of subsidiaries in a country with combined revenues greater than 10% of consolidated net revenues or as otherwise deemed significant.

For Long-lived assets, a major country is defined as a group of subsidiaries within a country with combined long-lived assets greater than 10% of consolidated long-lived assets or as otherwise deemed significant. Long-lived assets include property and equipment, goodwill and other intangible assets.

No customer or group of affiliated customers accounted for more than 10% of the Company’s Net revenues in fiscal 2014, 2013 and 2012 or are deemed significant.

Within the Company’s reportable segments, product categories exceeding 5% of consolidated net revenues are presented below; no individual Skin & Body Care product category exceeded 5% of consolidated net revenues:

	Year Ended June 30,
PRODUCT CATEGORY	2014		2013		2012
Fragrances:
Designer	37.4	%	35.8	%	35.7	%
Lifestyle	11.5		10.8		11.2
Celebrity	6.0		7.0		6.3
Total	54.9	%	53.6	%	53.2	%
Color Cosmetics:
Nail Care	14.0	%	16.1	%	16.3	%
Other Color Cosmetics	16.0		15.5		14.7
Total	30.0	%	31.6	%	31.0	%
Skin & Body Care	15.1	%	14.8	%	15.8	%
Total	100.0	%	100.0	%	100.0	%