EQUITY

Common Stock

During the nine months ended March 31, 2015, the Company issued 5.2 million shares of its Class A Common Stock and received $44.5 in cash in connection with the exercise of employee stock options, the settlement of restricted stock units (“RSUs”) and the purchase of shares under the Platinum Program, which is an employee stock ownership program under the Omnibus Equity and Long-Term Incentive Plan. Additionally, the Company issued 1.4 million shares of its Class A Common Stock and recorded Additional Paid in Capital (“APIC”) of $12.5 in relation to the exercise of stock options by Mr. Michele Scannavini (“Mr. Scannavini”), its former Chief Executive Officer.

On March 13, 2015, JAB Cosmetics B.V. (“JAB”), a stockholder, sold 1.4 million shares of its Class B Common Stock to an affiliate of Mr. Elio Leoni Sceti, who was subsequently appointed the Company’s Chief Executive Officer (“CEO”) to commence no later than July 1, 2015. At the time of the sale, Mr. Sceti had no affiliation with the Company. As a result of the sale, the Company reclassified 1.4 million shares from Class B to Class A Common Stock on the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Equity and Redeemable Noncontrolling Interests as of March 31, 2015. The Company did not receive any shares or proceeds from the sale of shares by JAB.

As of March 31, 2015, the Company’s capital structure consisted of Class A Common Stock, Class B Common Stock and Preferred Stock, each with a par value of $0.01. Class A and Class B Common Stock are identical in all respects except for voting rights, certain conversion rights, and transfer restrictions in respect to the shares of Class B Common Stock. The holders of Class A Common Stock are entitled to one vote per share and the holders of Class B Common Stock are entitled to ten votes per share. Holders of Class A and Class B Common Stock are entitled to pro rata distribution of dividends if and when declared by the Board. As of March 31, 2015, total authorized shares of Class A Common Stock, Class B Common Stock and Preferred Stock are 800.0 million, 262.3 million and 20.0 million, respectively, and total outstanding shares of Class A and Class B Common Stock are 82.4 million and 262.3 million, respectively. There was no Preferred Stock outstanding as of March 31, 2015.

Accumulated Other Comprehensive Income (Loss)



	(Losses) Gains on Cash Flow Hedges			Pension and Other Post-Employment Benefit Plans			Foreign Currency Translation Adjustments			Total
Balance—July 1, 2014	$	(8.9	)	$	(54.7	)	$	(21.5	)	$	(85.1	)
Other comprehensive income (loss) before reclassifications	22.4			—			(259.8		)	(237.4		)
Less: Net amounts reclassified from AOCI	3.9			0.2			—			4.1
Net current-period other comprehensive income (loss)	18.5			(0.2		)	(259.8		)	(241.5		)
Balance—March 31, 2015	$	9.6		$	(54.9	)	$	(281.3	)	$	(326.6	)

Treasury Stock

In connection with the Company’s Class A Common Stock repurchase program announced on February 14, 2014 and June 3, 2014 (“Repurchase Program”), the Company repurchased 5.8 million shares of its Class A Common Stock during the three months and 13.4 million shares during the nine months ended March 31, 2015. The shares were purchased in multiple transactions at prices ranging from $18.64 to $21.99 during the three months ended, and $18.30 to $21.99 during the nine months ended March 31, 2015. The fair value of all shares repurchased was $113.9 and $263.1 during the three and nine months ended March 31, 2015, respectively, and was recorded as an increase to Treasury stock in the Company’s Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Equity and Redeemable Noncontrolling Interests.

On September 29, 2014, the Company entered into an agreement with Mr. Scannavini in connection with his resignation. The agreement required the Company to purchase on or before January 27, 2015 all Class A Common Stock Mr. Scannavini held directly or indirectly, including shares of Class A Common Stock obtained upon the exercise of certain stock options, for a share price of $17.21, which is the average closing value of the Class A Common Stock on the New York Stock Exchange over five business days immediately preceding September 29, 2014. As a result of the agreement, the Company purchased 2.4 million shares of its Class A Common Stock for $42.0 and was recorded as an increase to Treasury stock in the Company’s Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Equity and Redeemable Noncontrolling Interests during the nine months ended March 30, 2015. The Company made a net payment to Mr. Scannavini of $29.5, which is the purchase amount of $42.0 net of the aggregate exercise price of his vested stock options of $12.5.

Dividends

On September 16, 2014, the Company announced a cash dividend of $0.20 per share, or $71.9 on its Class A and Class B Common Stock. Of the $71.9, $71.0 was paid on October 15, 2014 to holders of record of Class A and Class B Common Stock on October 1, 2014 and was recorded as a decrease to APIC in the Condensed Consolidated Balance Sheet as of March 31, 2015. The remaining $0.9 is payable upon settlement of the RSUs outstanding as of October 1, 2014, and is recorded as Other noncurrent liabilities in the Condensed Consolidated Balance Sheet.

Additionally, the Company reduced the dividend accrual recorded in a prior period by $0.3 to adjust for accrued dividends on RSUs no longer expected to vest, which was recorded as an increase to APIC in the Condensed Consolidated Balance Sheet as of March 31, 2015. Total accrued dividends on unvested RSUs of $1.4 are included in Other noncurrent liabilities in the Condensed Consolidated Balance Sheet as of March 31, 2015.