RESTRUCTURING COSTS

Restructuring costs for the three and nine months ended March 31, 2018 and 2017 are presented below:



	Three Months Ended March 31,						Nine Months Ended March 31,
	2018			2017			2018			2017
Global Integration Activities	$	21.3		$	156.5		$	58.2		$	170.1
Acquisition Integration Program	(0.2		)	(0.7		)	(3.5		)	3.9
Other Restructuring	21.6			—			20.9			5.0
Total	$	42.7		$	155.8		$	75.6		$	179.0

Global Integration Activities

In connection with the acquisition of the P&G Beauty Business, the Company anticipates that it will incur restructuring and related costs aimed at integrating and optimizing the combined organization (“Global Integration Activities”).

Of the expected costs, the Company has incurred cumulative restructuring charges of $422.4 related to approved initiatives through March 31, 2018, which have been recorded in Corporate. The following table presents aggregate restructuring charges for the program:



	Severance and Employee Benefits		Third-Party Contract Terminations		Fixed Asset Write-offs		Other Exit Costs		Total
Fiscal 2017	$	333.9	$	22.4	$	4.6	$	3.3	$	364.2
Fiscal 2018	38.2		15.8		0.9		3.3		58.2
Cumulative through March 31, 2018	$	372.1	$	38.2	$	5.5	$	6.6	$	422.4

Over the next two fiscal years, the Company expects to incur approximately $140.0 of additional restructuring charges pertaining to the approved actions. Of the $140.0 of additional restructuring charges, the Company currently anticipates spending equal amounts related to employee termination benefits, fixed asset write-offs, third-party contract terminations and other costs to exit facilities and relocate employees.

The related liability balance and activity for the Global Integration Activities restructuring costs are presented below:



	Severance and Employee Benefits			Third-Party Contract Terminations			Fixed Asset Write-offs			Other Exit Costs			Total Program Costs
Balance—July 1, 2017	$	310.8		$	14.9		$	—		$	2.8		$	328.5
Restructuring charges	48.7			18.8			0.9			3.3			71.7
Payments	(113.5		)	(11.9		)	—			(3.0		)	(128.4		)
Changes in estimates	(10.5		)	(3.0		)	—			—			(13.5		)
Non-cash utilization	—			—			(0.9		)	—			(0.9		)
Effect of exchange rates	24.8			(0.1		)	—			(0.4		)	24.3
Balance—March 31, 2018	$	260.3		$	18.7		$	—		$	2.7		$	281.7

The Company currently estimates that the total remaining accrual of $281.7 will result in cash expenditures of approximately $82.0, $184.4, $14.0 and $1.3 in fiscal 2018, 2019, 2020 and thereafter, respectively.

Acquisition Integration Program

In the first quarter of fiscal 2016, the Company’s Board of Directors (the “Board”) approved an expansion to a restructuring program in connection with the acquisition of Bourjois (the “Acquisition Integration Program”). Actions associated with the program were initiated after the acquisition of Bourjois and were substantially completed during fiscal 2017 with cash payments continuing through fiscal 2020. The Company incurred $56.4 of restructuring costs life-to-date as of March 31, 2018, which have been recorded in Corporate.

The related liability balance and activity for the Acquisition Integration Program costs are presented below:



	Severance and Employee Benefits			Third-Party Contract Terminations		Other Exit Costs			Total Program Costs
Balance—July 1, 2017	$	24.8		$	1.5	$	4.1		$	30.4
Restructuring charges	—			—		1.9			1.9
Payments	(16.6		)	—		(1.6		)	(18.2		)
Changes in estimates^(a)	(5.4		)	—		—			(5.4		)
Effect of exchange rates	0.9			—		0.4			1.3
Balance—March 31, 2018	$	3.7		$	1.5	$	4.8		$	10.0

^(a)The decrease in severance and employee benefits is primarily attributable to favorable settlements with restructured employees.

The Company currently estimates that the total remaining accrual of $10.0 will result in cash expenditures of approximately $3.8, $2.6 and $3.6 in fiscal 2018, 2019 and thereafter, respectively.

Other Restructuring

The Company continues to analyze our cost structure and evaluate opportunities to streamline operations. Management is considering a range of smaller initiatives and other cost reduction activities in order to rationalize headcount and optimize operations in select businesses (the “2018 Restructuring Actions”). Of the expected costs, the Company incurred restructuring charges of $20.5 related to approved initiatives in the nine months ended March 31, 2018, primarily related to role eliminations in Europe and North America, which have been recorded in Corporate. The Company expects to incur approximately $7.0 of additional restructuring charges pertaining to the approved actions, primarily related to employee termination benefits.

The related liability balance and activity of restructuring costs for the 2018 Restructuring Actions are presented below:



	Severance and Employee Benefits			Third-Party Contract Terminations		Total Program Costs
Balance—July 1, 2017	$	—		$	—	$	—
Restructuring charges	20.4			0.1		20.5
Payments	(6.5		)	—		(6.5		)
Changes in estimates	—			—		—
Effect of exchange rates	(0.1		)	—		(0.1		)
Balance—March 31, 2018	$	13.8		$	0.1	$	13.9

The Company currently estimates that the total remaining accrual of $13.9 will result in cash expenditures of approximately $8.9 and $5.0 in fiscal 2018 and 2019, respectively.

The Company executed a number of other restructuring activities during 2013 and 2014, which focused primarily on work-force reductions around a new organizational structure, and other productivity initiatives related to the integration of supply chain and selling activities. These programs are substantially completed. The Company incurred expenses of $(1.1) and $5.0 during the nine months ended March 31, 2018 and 2017, respectively. The related liability balances were $2.7 and $10.1 at March 31, 2018 and June 30, 2017, respectively. The Company currently estimates that the total remaining accrual of $2.7 will result in cash expenditures of $1.6 and $1.1 in fiscal 2018 and 2019, respectively.

In connection with the acquisition of the P&G Beauty Business, the Company assumed restructuring liabilities of approximately $21.7 at October 1, 2016. The Company incurred expenses of $1.5 and $0.0 during the nine months ended March 31, 2018 and 2017, respectively, primarily related to an adjustment for lease termination. The Company estimates that the remaining accrual of $9.3 at March 31, 2018 will result in cash expenditures of $2.8, $5.5 and $1.0 in fiscal 2018, 2019 and thereafter, respectively.