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INTEREST EXPENSE, NET
 6 Months Ended
Dec. 31, 2015
Interest Income And Interest Expense Disclosure [Abstract]  
Interest Expense, Net
INTEREST EXPENSE, NET

Interest expense, net for the three and six months ended December 31, 2015 and 2014 is presented below:
 
Three Months Ended
December 31,
 
Six Months Ended
December 31,
 
2015
 
2014
 
2015
 
2014
Interest expense
$
25.3

 
$
17.4

 
$
40.3

 
$
36.8

Foreign exchange (gains) losses, net of derivative contracts (a)
(10.2
)
 
2.4

 
(8.7
)
 
3.7

Interest income
(0.5
)
 
(0.7
)
 
(1.0
)
 
(1.8
)
Total interest expense, net
$
14.6

 
$
19.1

 
$
30.6

 
$
38.7


 
 
(a) During the three months ended December 31, 2015 the Company recorded a gain of $11.1 related to short-term forward contracts to exchange Euros for U.S. Dollars related to the Euro tranche of debt issued during the quarter. These short-term forward contracts were entered into to facilitate the repayment of the Company’s then existing U.S. Dollar denominated term loans as part of the debt refinancing discussed in Note 10. Fluctuations in exchange rates between the dates the short-term forward contracts were entered into and the settlement date resulted in a gain upon settlement of $11.1 included within Total interest expense, net for the three and six months ended December 31, 2015 in the Company’s Condensed Consolidated Statements of Operations.