GOODWILL, OTHER INTANGIBLE ASSETS, NET AND OTHER ASSETS

3 Months Ended

Sep. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Intangible Assets, Net and Other Assets

GOODWILL, OTHER INTANGIBLE ASSETS, NET AND OTHER ASSETS

As discussed in Note 3, the Company evaluated the impact of the Organizational Redesign (see Note 4) on the determination of its operating segments and its reporting units. Based on this evaluation, the Company concluded that its three reporting units are the same as its operating segments. It also moved the revenues and costs associated with one brand, along with its attributable goodwill of $69.1, from the Fragrances to the Skin & Body Care operating segment.

Goodwill

Goodwill as of September 30, 2014 and June 30, 2014 is presented below:



	Fragrances			Color Cosmetics			Skin & Body Care			Total
Gross Balance at June 30, 2014	$	751.9		$	538.2		$	693.5		$	1,983.6
Accumulated Impairments	—			—			(640.8		)	(640.8		)
Net Balance at June 30, 2014	$	751.9		$	538.2		$	52.7		$	1,342.8

Changes during the period ended September 30, 2014:
Foreign currency translation	(11.0		)	(6.9		)	(0.2		)	(18.1		)
Reclassification ^(a)	(69.1		)	—			69.1			—

Gross Balance at September 30, 2014	$	671.8		$	531.3		$	762.4		$	1,965.5
Accumulated Impairments	—			—			(640.8		)	(640.8		)
Net Balance at September 30, 2014	$	671.8		$	531.3		$	121.6		$	1,324.7

^(a) Pursuant to the Company’s Organizational Redesign announced during the three months ended September 30, 2014, a certain brand and its attributable goodwill of $69.1 was reclassified from the Fragrances segment to the Skin & Body Care segment. The Company calculated the fair value of the brand relative to the reporting unit using the same methodology utilized in the annual impairment analysis as discussed in the Fiscal 2014 Form 10-K.

Other Intangible Assets

Other intangible assets, net as of September 30, 2014 and June 30, 2014 are presented below:



	September 30, 2014		June 30, 2014
Indefinite-lived other intangible assets ^(a)	$	1,163.7	$	1,167.8
Finite-lived other intangible assets, net ^(b)	640.8		669.3
Total Other intangible assets, net	$	1,804.5	$	1,837.1

^(a)Net of accumulated impairments of $(188.6) as of September 30, 2014 and June 30, 2014.

^(b)Net of accumulated impairments of $(21.0) and $(33.5) related to the TJoy trademark and customer relationships, respectively, recorded in fiscal 2014.

The effect of foreign currency translation in the carrying amount of indefinite-lived intangible assets is $(4.2) as of September 30, 2014.

Intangible assets subject to amortization are presented below:



	Cost		Accumulated Amortization			Accumulated Impairment			Net
June 30, 2014
License agreements	$	835.0	$	(490.8	)	$	—		$	344.2
Customer relationships	510.8		(169.4		)	(33.5		)	307.9
Trademarks	125.8		(90.1		)	(21.0		)	14.7
Product formulations	31.8		(29.3		)	—			2.5
Total	$	1,503.4	$	(779.6	)	$	(54.5	)	$	669.3
September 30, 2014
License agreements	$	821.7	$	(490.9	)	$	—		$	330.8
Customer relationships	503.2		(175.5		)	(33.5		)	294.2
Trademarks	123.3		(88.8		)	(21.0		)	13.5
Product formulations	31.8		(29.5		)	—			2.3
Total	$	1,480.0	$	(784.7	)	$	(54.5	)	$	640.8

Amortization expense totaled $18.9 and $22.6 for the three months ended September 30, 2014 and 2013.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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