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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair value of derivative instruments
The following table presents the fair value of derivative instruments outstanding at June 30, 2016 and 2015:
 
Asset
 
Liability
 
Balance Sheet Classification
 
Fair Value
 
Balance Sheet Classification
 
Fair Value
 
 
 
June 30, 2016
 
June 30, 2015
 
 
 
June 30, 2016
 
June 30, 2015
Derivatives designated as hedges:
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expenses and
other current assets
 
$
2.8

 
$
6.8

 
Accrued expenses and
other current liabilities
 
$
3.1

 
$
4.8

Interest rate swap contracts
Prepaid expenses and
other current assets
 
—

 
—

 
Accrued expenses and
other current liabilities
 
13.6

 
—

Interest rate swap contracts
Other noncurrent
assets
 
—

 
—

 
Other noncurrent
liabilities
 
16.4

 
—

Total derivatives designated as hedges
 
 
$
2.8

 
$
6.8

 
 
 
$
33.1

 
$
4.8

Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expenses and
other current assets
 
$
6.4

 
$
5.6

 
Accrued expenses and
other current liabilities
 
$
4.2

 
$
1.5

Total derivatives not designated as hedges
 
 
$
6.4

 
$
5.6

 
 
 
$
4.2

 
$
1.5

Total derivatives
 
 
$
9.2

 
$
12.4

 
 
 
$
37.3

 
$
6.3
Gross amount of foreign exchange hedges recorded in Condensed Consolidated Balance Sheet
The table below presents the gross amount of foreign exchange contract hedges and interest rate swap contract hedges recorded as assets and liabilities in Prepaid expenses and other current assets and Accrued expenses and other current liabilities in the Consolidated Balance Sheet, respectively, as of June 30, 2016:
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets
 
 
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amount Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Net Amount
Foreign exchange forward contracts:
 
 
 
 
 
 
 
 
 
 
 
Prepaid expenses and other current assets
$
10.1

 
(0.9
)
 
9.2

 
—

 
—

 
$
9.2

Accrued expenses and other current liabilities
$
(8.9
)
 
1.6

 
(7.3
)
 
—

 
—

 
$
(7.3
)
Interest rate swap contracts:
 
 
 
 
 
 
 
 
 
 
 
Accrued expenses and other current liabilities
$
(13.6
)
 
—

 
(13.6
)
 
—

 
—

 
$
(13.6
)
Other noncurrent liabilities
$
(16.4
)
 
—

 
(16.4
)
 
—

 
—

 
$
(16.4
)
The table below presents the gross amount of foreign exchange contract hedges recorded as assets and liabilities in Prepaid expenses and other current assets and Accrued expenses and other current liabilities in the Consolidated Balance Sheet, respectively, as of June 30, 2015:
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets
 
 
Foreign exchange forward contracts:
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amount Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Net Amount
Prepaid expenses and other current assets
 
$
16.1

 
(3.7
)
 
12.4

 
—

 
—

 
$
12.4

Accrued expenses and other current liabilities
 
$
(6.5
)
 
0.2

 
(6.3
)
 
—

 
—

 
$
(6.3
)
Gross amount of foreign exchange hedges recorded as liabilities in Condensed Consolidated Balance Sheet
The table below presents the gross amount of foreign exchange contract hedges and interest rate swap contract hedges recorded as assets and liabilities in Prepaid expenses and other current assets and Accrued expenses and other current liabilities in the Consolidated Balance Sheet, respectively, as of June 30, 2016:
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets
 
 
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amount Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Net Amount
Foreign exchange forward contracts:
 
 
 
 
 
 
 
 
 
 
 
Prepaid expenses and other current assets
$
10.1

 
(0.9
)
 
9.2

 
—

 
—

 
$
9.2

Accrued expenses and other current liabilities
$
(8.9
)
 
1.6

 
(7.3
)
 
—

 
—

 
$
(7.3
)
Interest rate swap contracts:
 
 
 
 
 
 
 
 
 
 
 
Accrued expenses and other current liabilities
$
(13.6
)
 
—

 
(13.6
)
 
—

 
—

 
$
(13.6
)
Other noncurrent liabilities
$
(16.4
)
 
—

 
(16.4
)
 
—

 
—

 
$
(16.4
)
The table below presents the gross amount of foreign exchange contract hedges recorded as assets and liabilities in Prepaid expenses and other current assets and Accrued expenses and other current liabilities in the Consolidated Balance Sheet, respectively, as of June 30, 2015:
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets
 
 
Foreign exchange forward contracts:
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amount Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Net Amount
Prepaid expenses and other current assets
 
$
16.1

 
(3.7
)
 
12.4

 
—

 
—

 
$
12.4

Accrued expenses and other current liabilities
 
$
(6.5
)
 
0.2

 
(6.3
)
 
—

 
—

 
$
(6.3
)
Schedule of gains and losses recognized in OCI related to derivative and non-derivative financial instruments
The amount of gains and losses recognized in OCI in the Consolidated Balance Sheets related to the Company’s derivative and non-derivative financial instruments which are designated as hedging instruments for the fiscal years ended June 30, 2016, 2015 and 2014 is presented below:
Gain (Loss) Recognized in OCI
Fiscal Year Ended June 30,
 
2016
 
2015
 
2014
Foreign exchange forward contracts
$
6.0

 
$
21.6

 
$
(10.5
)
Interest rate swap contracts
(36.6
)
 
—

 
—

Net investment hedge
(2.5
)
 
—

 
—
Reclassification out of accumulated other comprehensive income
The amount of gains and losses reclassified from AOCI/(L) to the Consolidated Statements of Operations related to the Company’s derivative financial instruments which are designated as hedging instruments during the fiscal years ended June 30, 2016, 2015 and 2014 is presented below:
Consolidated Statements of Operations
Classification of Gain (Loss) Reclassified from AOCI/(L)

Fiscal Year Ended June 30,

 
2016
 
2015
 
2014
Foreign exchange forward contract:
 
 
 
 
 
Net revenues
$
5.5

 
$
8.1

 
$
—

Cost of sales
0.7

 
0.3

 
—

Interest rate swap contracts:
 
 
 
 
 
Interest expense
(7.7
)
 
—

 
—
Amount of gains and losses related to derivative financial instruments not designated as hedging instruments
The amount of gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments during the fiscal years ended June 30, 2016, 2015 and 2014 is presented below:
Consolidated Statements of Operations
Classification of Gain (Loss) Recognized in Operations
Fiscal Year Ended June 30,
 
2016
 
2015
 
2014
Net revenues
$
—

 
$
(0.1
)
 
$
—

Cost of sales
—

 
(0.3
)
 
0.1

Selling, general and administrative
1.8

 
(0.2
)
 
(0.1
)
Interest expense, net (a)
(11.3
)
 
(37.2
)
 
0.4

Other (expense) income, net (b)
(29.3
)
 
—

 
—

 
 
(a) 
The impact on interest expense, net for fiscal 2015 related to derivative contracts entered into to offset fluctuations in the underlying non-functional currency cash balances and intercompany loans at June 30, 2015 is due to increased foreign exchange exposure and higher volatility in currencies during the year, which is more than offset by the revaluation of underlying non-functional currency cash balances. 
(b) 
During fiscal 2016, the Company recognized $29.6 of realized losses on foreign currency forward contracts related to the Brazil Acquisition as described in Note 4.