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INTEREST EXPENSE, NET (Tables)
 12 Months Ended
Jun. 30, 2016
Interest Income (Expense), Net [Abstract]  
Interest expense, net
Interest expense, net for the years ended June 30, 2016, 2015 and 2014 is presented below:
 
 
Year Ended June 30,
 
 
2016
 
2015
 
2014
Interest expense
 
$
112.9

 
$
71.4

 
$
69.8

Foreign exchange (gain) losses, net of derivative contracts (a)
 
(26.9
)
 
4.1

 
2.8

Deferred financing fees write-off
 
—

 
0.9

 
—

Interest income
 
(4.1
)
 
(3.4
)
 
(4.1
)
Total interest expense, net
 
$
81.9

 
$
73.0

 
$
68.5

 
 
(a) During the second quarter of fiscal 2016, 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 13. 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 fiscal year end June 30, 2016 in the Company’s Consolidated Statements of Operations.