XML 61 R44.htm IDEA: XBRL DOCUMENT v3.6.0.2
INTEREST EXPENSE, NET (Tables)
 6 Months Ended
Dec. 31, 2016
Interest Income (Expense), Net [Abstract]  
Interest expense, net
Interest expense, net for the three and six months ended December 31, 2016 and 2015 is presented below:
 
Three Months Ended
December 31,
 
Six Months Ended
December 31,
 
2016
 
2015
 
2016
 
2015
Interest expense
$
59.2

 
$
25.3

 
$
98.9

 
$
40.3

Foreign exchange (gains) losses, net of derivative contracts(a)
(0.1
)
 
(10.2
)
 
1.2

 
(8.7
)
Interest income
(1.2
)
 
(0.5
)
 
(1.8
)
 
(1.0
)
Total interest expense, net
$
57.9

 
$
14.6

 
$
98.3

 
$
30.6


 
 
(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 the Coty Term Loan B Facility 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 Company’s fiscal 2016 debt refinancing. 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 Foreign exchange losses, net of derivative contracts for the three and six months ended December 31, 2015 in the Company’s Condensed Consolidated Statements of Operations.