DEBT (Tables)

12 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of debt

	June 30, 2018			June 30, 2017
Short-term debt	$	9.2		$	3.7
2018 Coty Credit Agreement
2018 Coty Revolving Credit Facility due April 2023	368.1			—
2018 Coty Term A Facility due April 2023	3,371.5			—
2018 Coty Term B Facility due April 2025	2,390.5			—
Senior Unsecured Notes
2026 Dollar Notes due April 2026	550.0			—
2023 Euro Notes due April 2023	640.9			—
2026 Euro Notes due April 2026	291.4			—
Galleria Credit Agreement
Galleria Revolving Credit Facility due September 2021	—			—
Galleria Term Loan A Facility due September 2021	—			944.3
Galleria Term Loan B Facility due September 2023	—			1,000.0
2015 Coty Credit Agreement
Coty Revolving Credit Facility due October 2020	—			810.0
Coty Term Loan A Facility due October 2020	—			1,792.8
Coty Term Loan A Facility due October 2021	—			950.6
Coty Term Loan B Facility due October 2022	—			1,712.5
Other long-term debt and capital lease obligations	1.6			1.7
Total debt	7,623.2			7,215.6
Less: Short-term debt and current portion of long-term debt	(218.9		)	(209.1		)
Total Long-term debt	7,404.3			7,006.5
Less: Unamortized debt issuance costs (a) (b)	(86.2		)	(67.6		)
Less: Discount on Long-term debt	(12.7		)	(10.6		)
Total Long-term debt, net	$	7,305.4		$	6,928.3

^(a) Balances as of June 30, 2018 consist of unamortized debt issuance costs of $31.4 for the 2018 Coty Revolving Credit Facility, $29.2 for the 2018 Coty Term A Facility, $10.9 for the 2018 Coty Term B Facility, $8.3 for the 2026 Dollar and Euro Notes and $6.4 for the 2023 Euro Notes.

^(b) Balances as of June 30, 2017 consist of unamortized debt issuance costs of  $17.5 for the Coty Revolving Credit Facility, $33.2 for the Coty Term Loan A Facility, $11.3 for the Coty Term Loan B Facility, $2.7 for the Galleria Term Loan A Facility and  $3.0 for the Galleria Term Loan B Facility. Unamortized debt issuance costs of $4.2 for the Galleria Revolving Credit Facility were classified as Other noncurrent assets as of June 30, 2017.

Schedule of long term debt facilities

The Company’s long-term debt facilities consisted of the following as of June 30, 2018:

Facility	Maturity Date	Borrowing Capacity (in millions)	Interest Rate Terms	Applicable Interest Rate Spread as of June 30, 2018	Debt Discount	Repayment Schedule
2018 Coty Revolving Credit Facility	April 2023	$3,250.0	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (d) (e)	1.75%	N/A(b)	Payable in full at maturity date
2018 Coty Term A Facility - USD Portion	April 2023	$1,000.0	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (d)	1.75%	N/A(b)	Quarterly repayments beginning September 30, 2018 at 1.25% of original principal amount
2018 Coty Term A Facility - EUR Portion	April 2023	€2,035.0	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (d)	1.75%	N/A(b)	Quarterly repayments beginning September 30, 2018 at 1.25% of original principal amount
2018 Coty Term B Facility - USD Portion	April 2025	$1,400.0	LIBOR(a) plus a margin of 2.25% per annum or a base rate plus a margin of 1.25% per annum (d)	2.25%	0.25%	Quarterly repayments beginning September 30, 2018 at 0.25% of original principal amount
2018 Coty Term B Facility - EUR Portion	April 2025	€850.0	LIBOR(a) plus a margin of 2.50% per annum (d)	2.50%	0.25%	Quarterly repayments beginning September 30, 2018 at 0.25% of original principal amount
2026 Dollar Notes	April 2026	$550.0	6.5% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2018	N/A(b)	N/A(b)	Payable in full at maturity date
2023 Euro Notes	April 2023	€550.0	4.0% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2018	N/A(b)	N/A(b)	Payable in full at maturity date
2026 Euro Notes	April 2026	€250.0	4.75% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2018	N/A(b)	N/A(b)	Payable in full at maturity date

^(a) As defined below.

^(b) N/A - Not Applicable.

^(c) As defined per the 2018 Coty Credit Agreement.

^(d) The selection of the applicable one, two, three, six or twelve month interest rate for the period is at the discretion of the Company.

^(e) The Company will pay to the Revolving Credit Facility lenders an unused commitment fee calculated at a rate ranging from 0.10% to 0.35% per annum, based on the Company’s total net leverage ratio^(c). As of June 30, 2018, the applicable rate on the unused commitment fee was 0.30%.

The Company’s long-term debt facilities consisted of the following as of June 30, 2017:

Facility	Maturity Date	Borrowing Capacity (in millions)	Interest Rate Terms	Applicable Interest Rate Spread as of June 30, 2017	Debt Discount	Repayment Schedule
Galleria Revolving Credit Facility(a)	September 2021	$1,500.0	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (d) (f)	1.75%	N/A(b)	Payable in full at maturity date
Galleria Term Loan A Facility(a)	September 2021	$2,000.0 (g)	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (f)	1.75%	N/A(b)	Quarterly repayments beginning December 31, 2017 at 1.25% of original principal amount
Galleria Term Loan B Facility(a)	September 2023	$1,000.0	LIBOR(a) plus a margin of 3.00% or a base rate, plus a margin of 2.00%(f)	3.00%	0.50%	Quarterly repayments beginning December 31, 2017 at 0.25% of original principal amount
Coty Revolving Credit Facility(a)	October 2020	$1,500.0	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (d) (f)	1.75%	N/A(b)	Payable in full at maturity date
Coty Term Loan A Facility(a) - USD Portion	October 2020	$1,750.0	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (f)	1.75%	N/A(b)	Quarterly repayments beginning June 30, 2016 at 1.25% of original principal amount
Coty Term Loan A Facility(a)  - Euro Portion	October 2020	€140.0	EURIBOR(a) plus a margin of 1.00% to 2.00% per annum, based on the Company’s total net leverage ratio (c) (f)	1.75%	N/A(b)	Quarterly repayments beginning September 30, 2016 at 1.25% of original principal amount
Incremental Term A Facility(a)	October 2021	$975.0	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (f)	1.75%	N/A(b)	Quarterly repayments beginning March 31, 2017 at 1.25% of original principal amount
Coty Term Loan B Facility(a)(h)  - USD Portion and Incremental Term B Facility(a)	October 2022	$600.0	LIBOR(a) plus a margin of 2.50% or a base rate, plus a margin of 2.00%(f)	2.50%	0.50%	Quarterly repayments beginning June 30, 2016 at 0.25% of original principal amount
Coty Term Loan B Facility(a)  - Euro Portion	October 2022	€990.0(e)	EURIBOR(a) plus a margin of 2.75%	2.75%	0.50%	See below.(e)

^(a) As defined below.

^(b) N/A - Not Applicable.

^(c) As defined per the respective loan agreement.

^(d) Additionally the Company paid to the Revolving Credit Facility lenders an unused commitment fee calculated at a rate ranging from 0.25% to 0.50% per annum, based on the Company’s total net leverage ratio^(c). As of June 30, 2017, the applicable rate on the unused commitment fee was 0.50%.

^(e) Included €665.0 million of the Euro portion of Coty Term Loan B Facility originated on October 27, 2015, and the €325.0 million from the Incremental Term Loans, as defined below, originated on April 8, 2016. Repayments on the €665.0 million portion were payable quarterly beginning on June 30, 2016 at 0.25% of the original principal amount. Repayments on the €325.0 million Incremental Term Loan B were payable quarterly beginning on September 30, 2016 at 0.25% of the original principal amount.

^(f) The selection of the applicable interest rate for the period is at the discretion of the Company.

^(g) At the closing of the P&G Beauty Business acquisition, $944.3 were assumed under the Galleria Credit Agreement. The remaining unused loan commitments for the Galleria Term Loan A Facility expired.

^(h) Refinanced as part of the Incremental Assumption Agreement^(a) on October 28, 2016 and part of the Refinancing Facilities^(a).

The Company’s long term debt facilities consisted of the following as of June 30, 2016:

Facility	Maturity Date	Borrowing Capacity (in millions)	Interest Rate Terms	Applicable Interest Rate Spread as of June 30, 2016	Debt Discount	Repayment Schedule
Coty Revolving Credit Facility(a)	October 2020	$1,500.0	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (d) (f)	1.75%	N/A(b)	Payable in full at maturity date
Coty Term Loan A Facility(a) - USD Portion	October 2020	$1,750.0	LIBOR(a) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (c) (f)	1.75%	N/A(b)	Quarterly repayments beginning June 30, 2016 at 1.25% of original principal amount
Coty Term Loan A Facility(a)  - Euro Portion	October 2020	€140.0	EURIBOR(a) plus a margin of 1.00% to 2.00% per annum, based on the Company’s total net leverage ratio (c) (f)	1.75%	N/A(b)	Quarterly repayments beginning September 30, 2016 at 1.25% of original principal amount
Coty Term Loan B Facility(a)  - USD portion	October 2022	$500.0	LIBOR(a) (subject to a 0.75% floor) plus a margin of 3.00% or a base rate (subject to a 1.75% floor), plus a margin of 2.00%(f)	3.00%	0.50%	Quarterly repayments beginning June 30, 2016 at 0.25% of original principal amount
Coty Term Loan B Facility(a)  - Euro portion	October 2022	€990.0 (e)	EURIBOR(a) (subject to a 0.75% floor) plus a margin of 2.75%	2.75%	0.50%	Quarterly repayments beginning June 30, 2016 at 0.25% of original principal amount (e)

^(a) As defined below.

^(b) N/A - Not Applicable.

^(c) As defined per the respective loan agreement.

^(d) Additionally the Company paid to the Coty Revolving Credit Facility and Galleria Revolving Facility lenders an unused commitment fee calculated at a rate ranging from 0.25% to 0.50% per annum, based on the Company’s total net leverage ratio^(c). As of June 30, 2016, the applicable rate on the unused commitment fee was 0.50%.

^(e) Included €665.0 million of the Euro portion of Term Loan B originated on October 27, 2015, and the €325.0 million from the Incremental Term Loans, as defined below, originated on April 8, 2016. Repayments on the €325.0 million Incremental Term Loan B were payable quarterly beginning on September 30, 2016 at 0.25% of the original principal amount.

^(f) The selection of the applicable interest rate for the period is at the discretion of the Company.

Debt Instrument Redemption

At any time on or after April 15, 2021, April 15, 2020 and April 15, 2021, the Company may redeem some or all of the 2026 Dollar Notes, 2023 Euro Notes and 2026 Euro Notes, respectively, at the redemption prices (expressed in percentage of principal amount) set forth below, plus accrued and unpaid interest, if any, to, but excluding, the redemption dates, if redeemed during the twelve-month period beginning on April 15 of each of the years indicated below:

	Price
Year	2026 Dollar Notes	2023 Euro Notes	2026 Euro Notes
2020	N/A	102.0000%	N/A
2021	104.8750%	101.0000%	103.5625%
2022	103.2500%	100.0000%	102.3750%
2023	101.6250%	100.0000%	101.1875%
2024 and thereafter	100.0000%	N/A	100.0000%

Schedule of Leverage-based Pricing

With certain exceptions as described below, the 2018 Coty Credit Agreement includes a financial covenant that requires us to maintain a Total Net Leverage Ratio (as defined below), equal to or less than the ratios shown below for each respective test period.

Quarterly Test Period Ending	Total Net Leverage Ratio(a)
June 30, 2018	5.50 to 1.00
September 30, 2018 through December 31, 2018	5.50 to 1.00
March 31, 2019 through June 30, 2019	5.25 to 1.00
September 30, 2019 through December 31, 2019	5.00 to 1.00
March 31, 2020 through June 30, 2020	4.75 to 1.00
September 30, 2020 through December 31, 2020	4.50 to 1.00
March 31, 2021 through June 30, 2021	4.25 to 1.00
September 30, 2021 through June 30, 2023	4.00 to 1.00

^(a) Total Net Leverage Ratio means, as of any date of determination, the ratio of: (a) (i) Total Indebtedness minus (ii) unrestricted cash and Cash Equivalents of the Parent Borrower and its Restricted Subsidiaries as determined in accordance with GAAP to (b) Adjusted EBITDA for the most recently ended Test Period (each of the defined terms used within the definition of Total Net Leverage Ratio have the meanings ascribed to them within the 2018 Coty Credit Agreement).

In the case of the 2018 Coty Revolving Credit Facility and the 2018 Coty Term A Facility, the applicable margin means the lesser of a percentage per annum to be determined in accordance with the leverage-based pricing grid and the debt rating-based grid below:

Pricing Tier	Total Net Leverage Ratio:	LIBOR plus:	Alternative Base Rate Margin:
1.0	Greater than or equal to 4.75:1	2.000%	1.000%
2.0	Less than 4.75:1 but greater than or equal to 4.00:1	1.750%	0.750%
3.0	Less than 4.00:1 but greater than or equal to 2.75:1	1.500%	0.500%
4.0	Less than 2.75:1 but greater than or equal to 2.00:1	1.250%	0.250%
5.0	Less than 2.00:1 but greater than or equal to 1.50:1	1.125%	0.125%
6.0	Less than 1.50:1	1.000%	—%

Pricing Tier	Debt Ratings S&P/Moody’s:	LIBOR plus:	Alternative Base Rate Margin:
5.0	Less than BB+/Ba1	2.000%	1.000%
4.0	BB+/Ba1	1.750%	0.750%
3.0	BBB-/Baa3	1.500%	0.500%
2.0	BBB/Baa2	1.250%	0.250%
1.0	BBB+/Baa1 or higher	1.125%	0.125%

Fair value of debt

	June 30, 2018				June 30, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
2018 Coty Credit Agreement	$	6,130.1	$	6,070.8	$	—	$	—
Senior Unsecured Notes	1,482.3		1,449.9		—		—
Galleria Credit Agreement	—		—		1,944.3		1,944.0
2015 Coty Credit Agreement	—		—		5,265.9		5,275.4

Aggregate maturities of long-term debt

Aggregate maturities of all long-term debt, including current portion of long-term debt and excluding capital lease obligations as of June 30, 2018, are presented below:

Fiscal Year Ending June 30,
2019	$	192.5
2020	192.5
2021	192.5
2022	192.5
2023	3,730.1
Thereafter	3,112.3
Total	$	7,612.4