SEGMENT REPORTING

3 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

Operating 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.

During the three months ended September 30, 2014, the Company evaluated the impact of the Organizational Redesign restructuring program (see Note 4) on the determination of its operating segments and reporting units. The Company concluded that its operating and reportable segments continue to be Fragrances, Color Cosmetics and Skin & Body Care (also referred to as “segments”). However, based on the organizational changes that result from the Organizational Redesign and the impact on the information provided to the CODM, the Company reclassified the revenues and costs associated with one brand from the Fragrances to the Skin & Body Care operating segment. Revenue and cost relating to a brand that generates revenues from more than one of the Company’s product categories are allocated in their entirety to one of the operating segments based on the Company’s reporting to the CODM, its organizational structure, and the product category that is deemed to be the strategic priority for the brand.

	Three Months Ended September 30,
SEGMENT DATA	2014			2013
Net revenues:
Fragrances	$	640.9		$	658.9
Color Cosmetics	344.1			311.5
Skin & Body Care	197.3			207.8
Total	$	1,182.3		$	1,178.2
Operating income (loss):
Fragrances	$	120.5		$	145.8
Color Cosmetics	42.5			36.8
Skin & Body Care	3.7			3.5
Corporate	(46.6		)	(20.5		)
Total	$	120.1		$	165.6
Reconciliation:
Operating income	$	120.1		$	165.6
Interest expense, net	19.6			17.4
Loss on early extinguishment of debt	88.8			—
Other income, net	—			(0.2		)
Income before income taxes	$	11.7		$	148.4

Within the Company’s reportable segments, product categories exceeding 5% of consolidated net revenues are presented below:

	Three Months Ended September 30,
PRODUCT CATEGORY	2014		2013
Fragrances:
Designer	41.1	%	41.5	%
Lifestyle	6.8		7.3
Celebrity	6.3		7.1
Total	54.2	%	55.9	%
Color Cosmetics:
Nail Care	13.7	%	13.2	%
Other Color Cosmetics	15.4		13.2
Total	29.1	%	26.4	%
Skin & Body Care:
Body Care	11.5	%	12.6	%
Skin Care	5.2		5.1
Total	16.7	%	17.7	%
Total	100.0	%	100.0	%