SEGMENT REPORTING

9 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

Operating segments include components of the enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company has designated its Chief Executive Officer as the CODM.

During the third quarter of fiscal 2016, the Company acquired 100% of the net assets of a beauty business (the “Brazilian Beauty Business”) from Hypermarcas S.A., a consumer goods company based in Brazil (See Note 4). The Company has concluded that the Brazilian Beauty Business represents a separate operating and reportable segment (the “Brazil Acquisition” segment). The Company anticipates that its operating and reporting segments could change upon completion of the anticipated transaction with The Procter & Gamble Company’s (“P&G”) fine fragrance, color cosmetics, and hair color businesses (the “P&G Beauty Brands”).

The Company’s operating and reportable segments are Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition (also referred to as “segments”). The reportable segments represent the Company’s product groupings other than the Brazil Acquisition segment. The Brazil Acquisition reportable segment represents revenues and expenses generated from multiple product groupings such as skin care, nail care, deodorants, and hair care products which are principally sold within Brazil. The items within Corporate relate to corporate-based responsibilities and decisions and are not used by the CODM to measure the underlying performance of the segments. Corporate primarily includes a component of share-based compensation expense, restructuring costs, costs related to acquisition activities and certain other expense items not attributable to ongoing operating activities of the segments.

	Three Months Ended March 31,						Nine Months Ended March 31,
SEGMENT DATA	2016			2015			2016			2015
Net revenues:
Fragrances	$	415.4		$	431.3		$	1,590.5		$	1,763.9
Color Cosmetics	374.3			336.6			1,140.0			1,021.2
Skin & Body Care	146.7			165.9			528.7			590.6
Brazil Acquisition	14.3			—			14.3			—
Total	$	950.7		$	933.8		$	3,273.5		$	3,375.7
Operating income (loss)
Fragrances	$	31.4		$	59.0		$	269.0		$	325.0
Color Cosmetics	47.8			39.3			163.9			121.8
Skin & Body Care	9.1			21.8			43.4			40.6
Brazil Acquisition	(6.6		)	—			(6.6		)	—
Corporate	(58.7		)	(5.4		)	(212.6		)	(68.9		)
Total	$	23.0		$	114.7		$	257.1		$	418.5
Reconciliation:
Operating income	$	23.0		$	114.7		$	257.1		$	418.5
Interest expense, net	25.1			17.6			55.7			56.3
Loss on early extinguishment of debt	—			—			3.1			88.8
Other expense (income), net	6.6			(0.5		)	30.4			(0.2		)
(Loss) income before income taxes	$	(8.7	)	$	97.6		$	167.9		$	273.6

Within the Company’s reportable segments, product categories exceeding 5% of consolidated net revenues are presented below:

	Three Months Ended March 31,				Nine Months Ended March 31,
PRODUCT CATEGORY	2016		2015		2016		2015
Fragrances:
Designer	34.1	%	34.9	%	37.4	%	38.6	%
Lifestyle	6.3		6.4		6.6		7.6
Celebrity	3.3		4.9		4.6		6.0
Total	43.7	%	46.2	%	48.6	%	52.2	%
Color Cosmetics:
Nail Care	15.9	%	16.8	%	14.3	%	13.8	%
Other Color Cosmetics	23.5		19.2		20.5		16.5
Total	39.4	%	36.0	%	34.8	%	30.3	%
Skin & Body Care:
Body Care	8.0	%	8.9	%	10.2	%	11.2	%
Skin Care	7.4		8.9		6.0		6.3
Total	15.4	%	17.8	%	16.2	%	17.5	%
Brazil Acquisition:
Total	1.5	%	—	%	0.4	%	—	%
Total	100.0	%	100.0	%	100.0	%	100.0	%