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INCOME TAXES (Tables)
 12 Months Ended
Jun. 30, 2018
Income Tax Disclosure [Abstract]  
Schedule of income before income tax
(Loss) income before income taxes in fiscal 2018, 2017 and 2016 is presented below:
 
Year Ended June 30,

2018
 
2017
 
2016
United States
$
(324.2
)
 
$
(524.8
)
 
$
(153.6
)
Foreign
171.7

 
(133.2
)
 
292.4

Total
$
(152.5
)
 
$
(658.0
)
 
$
138.8
Schedule of components of income tax expense (benefit)
The components of the Company’s total (benefit) provision for income taxes during fiscal 2018, 2017 and 2016 are presented below:
 
Year Ended June 30,

2018
 
2017
 
2016
(Benefit) provision for income taxes:
 
 
 
 
 
Current:
 
 
 
 
 
Federal
$
0.2

 
$
0.4

 
$
(30.0
)
State and local
9.8

 
1.1

 
(2.7
)
Foreign
67.0

 
129.0

 
131.5

Total
77.0

 
130.5

 
98.8

Deferred:
 
 
 
 
 
Federal
25.2

 
(256.9
)
 
(91.7
)
State and local
(0.7
)
 
(24.2
)
 
(9.9
)
Foreign
(126.2
)
 
(108.9
)
 
(37.6
)
Total
(101.7
)
 
(390.0
)
 
(139.2
)
Benefit for income taxes
$
(24.7
)
 
$
(259.5
)
 
$
(40.4
)
Schedule of effective income tax rate reconciliation
The reconciliation of the U.S. Federal statutory tax rate to the Company’s effective income tax rate during fiscal 2018, 2017 and 2016 is presented below:
 
Year Ended June 30,

2018
 
2017
 
2016
Income (loss) before income taxes
$
(152.5
)
 
$
(658.0
)
 
$
138.8

(Benefit) provision for income taxes at statutory rate
$
(42.8
)
 
$
(230.3
)
 
$
48.5

State and local taxes—net of federal benefit
9.9

 
(15.0
)
 
(8.3
)
Foreign tax differentials
(21.9
)
 
53.3

 
(50.8
)
Change in valuation allowances
8.6

 
(108.2
)
 
(7.6
)
Change in unrecognized tax benefit
(24.8
)
 
25.6

 
45.8

U.S. audit settlement, net
—

 
—

 
(83.2
)
Tax Act
41.0

 
—

 
—

Permanent differences—net
(8.5
)
 
1.2

 
4.7

Amortization on intercompany sale
5.4

 
5.7

 
5.7

Other
8.4

 
8.2

 
4.8

(Benefit) provision for income taxes
$
(24.7
)
 
$
(259.5
)
 
$
(40.4
)
Effective income tax rate
16.2
%
 
39.4
%
 
(29.1
)%
Schedule of deferred tax assets and liabilities
Significant components of deferred income tax assets and liabilities as of June 30, 2018 and 2017 are presented below:

June 30,
2018
 
June 30,
2017
Deferred income tax assets:
 
 
 
Inventories
$
9.0

 
$
11.7

Accruals and allowances
84.2

 
108.8

Sales returns
13.1

 
14.8

Share-based compensation
13.4

 
14.2

Employee benefits
115.7

 
141.2

Net operating loss carry forwards and tax credits
285.1

 
436.9

Other
48.3

 
40.7

Less: valuation allowances
(104.6
)
 
(60.3
)
Net deferred income tax assets
464.2

 
708.0

Deferred income tax liabilities:
 
 
 
Intangible assets
1,115.7

 
1,420.9

Property, plant and equipment
18.9

 
44.1

Unrealized gain
5.4

 
44.0

Licensing rights
21.5

 
30.4

Other
37.8

 
20.9

Deferred income tax liabilities
1,199.3

 
1,560.3

Net deferred income tax liabilities
$
(735.1
)
 
$
(852.3
)
Expirations of tax loss carryforwards
The expirations of tax loss carry forwards, amounting to $1,134.1 as of June 30, 2018, in each of the fiscal years ending June 30, are presented below:
Fiscal Year Ending June 30,
United States

Western Europe

Rest of World

Total
2019
$
—

 
$
—

 
$
15.2

 
$
15.2

2020
—

 
—

 
75.3

 
75.3

2021
—

 
0.8

 
12.4

 
13.2

2022
—

 
1.9

 
21.4

 
23.3

2023 and thereafter
1.7

 
828.9

 
176.5

 
1,007.1

Total
$
1.7

 
$
831.6

 
$
300.8

 
$
1,134.1
Reconciliation of unrecognized tax benefits
A reconciliation of the beginning and ending amount of UTBs is presented below:
 
Year Ended June 30,
 
2018
 
2017
 
2016
UTBs—July 1
$
257.9

 
$
228.9

 
$
342.6

Additions based on tax positions related to the current year
44.1

 
43.6

 
60.4

Additions for tax positions of prior years
97.4

 
0.4

 
—

Reductions for tax positions of prior years
(39.9
)
 
—

 
(70.5
)
Settlements
(42.3
)
 
(1.5
)
 
(72.7
)
Lapses in statutes of limitations
(11.0
)
 
(13.2
)
 
(37.9
)
Foreign currency translation
(2.6
)
 
(0.3
)
 
7.0

UTBs—June 30
$
303.6

 
$
257.9

 
$
228.9