INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of income before income tax

ncome (loss) from operations before income taxes in fiscal 2015, 2014 and 2013 is presented below:

	Year Ended June 30,
	2015			2014			2013
United States	$	(173.7	)	$	(119.1	)	$	(53.5	)
Foreign	407.0			75.0			372.2
Total	$	233.3		$	(44.1	)	$	318.7

Schedule of components of income tax expense (benefit)

The components of the Company’s total (benefit) provision for income taxes during fiscal 2015, 2014 and 2013 are presented below:

	Year Ended June 30,
	2015			2014			2013
(Benefit) provision for income taxes:
Current:
Federal	$	3.7		$	5.6		$	(26.5	)
State and local	3.3			2.1			2.8
Foreign	54.1			50.8			110.6
Total	61.1			58.5			86.9
Deferred:
Federal	(71.0		)	(30.6		)	8.3
State and local	(12.0		)	(0.7		)	2.6
Foreign	(4.2		)	(7.1		)	19.0
Total	(87.2		)	(38.4		)	29.9
(Benefit) provision for income taxes	$	(26.1	)	$	20.1		$	116.8

Schedule of effective income tax rate reconciliation

The reconciliation of the U.S. Federal statutory tax rate to the Company’s effective income tax rate during fiscal 2015, 2014 and 2013 is presented below:

	Year Ended June 30,
	2015			2014			2013
Income (loss) before income taxes	$	233.3		$	(44.1	)	$	318.7
Provision (benefit) for income taxes at statutory rate	$	81.7		$	(15.4	)	$	111.6
State and local taxes—net of federal benefit	(5.6		)	0.9			3.5
Foreign tax differentials	(74.4		)	(53.0		)	(44.2		)
Change in valuation allowances	(6.6		)	36.1			18.2
Change in unrecognized tax benefit	(35.2		)	(24.4		)	4.8
Asset impairment charges	—			67.4			—
Share-based compensation	—			1.8			16.0
Permanent differences—net	10.6			1.8			7.2
Other	3.4			4.9			(0.3		)
(Benefit) provision for income taxes	$	(26.1	)	$	20.1		$	116.8
Effective income tax rate	(11.2		)%	(45.6		)%	36.6		%

Schedule of deferred tax assets and liabilities

Significant components of Deferred income tax assets and liabilities as of June 30, 2015 and 2014 are presented below:

	June 30, 2015			June 30, 2014
Deferred income tax assets:
Inventories	$	14.0		$	20.2
Accruals and allowances	77.0			87.4
Sales returns	15.9			20.1
Share-based compensation	26.1			35.4
Employee benefits	38.4			50.9
Net operating loss carry forwards and tax credits	92.4			102.2
Other	27.2			45.3
Less: valuation allowances	(81.9		)	(98.6		)
Net deferred income tax assets	209.1			262.9
Deferred income tax liabilities:
Intangible assets	436.0			421.9
Licensing rights	6.3			6.4
Other	29.7			33.8
Deferred income tax liabilities	472.0			462.1
Net deferred income tax liabilities	$	(262.9	)	$	(199.2	)

Expirations of tax loss carryforwards

The expirations of tax loss carry forwards, amounting to $264.3 as of June 30, 2015, in each of the fiscal years ending June 30, are presented below:

Fiscal Year Ending June 30	United States		Western Europe		Rest of World		Total
2016	$	—	$	—	$	14.9	$	14.9
2017	—		—		18.2		18.2
2018	—		—		37.8		37.8
2019	—		—		51.6		51.6
2020 and thereafter	—		44.6		97.2		141.8
Total	$	—	$	44.6	$	219.7	$	264.3

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of UTBs is presented below:

	Year Ended June 30,
	2015			2014			2013
UTBs—July 1	$	400.5		$	331.4		$	326.5
Additions based on tax positions related to the current year	51.6			29.5			36.8
Additions for tax positions of prior years	6.4			91.9			5.0
Reductions for tax positions of prior years	(60.3		)	(9.9		)	—
Settlements	(29.7		)	(33.8		)	(27.9		)
Lapses in statutes of limitations	(14.2		)	(11.6		)	(13.8		)
Foreign currency translation	(11.7		)	3.0			4.8
UTBs—June 30	$	342.6		$	400.5		$	331.4