SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Property and Equipment, Useful Lives

Depreciation and amortization are computed principally using the straight-line method over the following estimated useful lives:

Description	Estimated Useful Lives
Buildings	20-40 years
Marketing furniture and fixtures	3-5 years
Machinery and equipment	2-15 years
Computer equipment and software	2-5 years
Property and equipment under capital leases and leasehold improvements	Lesser of lease term or economic life

Property and equipment, net as of June 30, 2015 and 2014 are presented below:

	June 30, 2015			June 30, 2014
Land, buildings and leasehold improvements	$	232.4		$	230.7
Machinery and equipment	471.3			492.8
Marketing furniture and fixtures	267.7			278.1
Computer equipment and software	325.5			339.8
Construction in progress	48.7			45.4
	1,345.6			1,386.8
Accumulated depreciation and amortization	(845.4		)	(846.5		)
Property and equipment, net	$	500.2		$	540.3

Finite-Lived Intangible Assets, Useful Lives

Intangible assets with finite lives are amortized principally using the straight-line method over the following estimated useful lives:

Description	Estimated Useful Lives
License agreements	Lesser of agreement term or economic life
Customer relationships	5-20 years
Trademarks	5-20 years
Product formulations	3-7 years

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
June 30, 2015
License agreements	$	800.7	$	(501.1	)	$	—		$	299.6
Customer relationships (c)	559.1		(232.8		)	—			326.3
Trademarks (c)	119.1		(108.2		)	—			10.9
Product formulations	32.7		(29.9		)	—			2.8
Total	$	1,511.6	$	(872.0	)	$	—		$	639.6

^(c) The cost, accumulated amortization and accumulated impairment related to the TJoy customer relationship and trademark was eliminated as of June 30, 2015 due to disposition of the business.