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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Jun. 30, 2018
Retirement Benefits [Abstract]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The aggregate reconciliation of the projected benefit obligations, plan assets, funded status and amounts recognized in the Company’s Consolidated Financial Statements related to the Company’s pension plans and other post-employment benefit plans is presented below:
 
Pension Plans
 
Other Post-Employment Benefits
 
Total
 
U.S.
 
International
 
 
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Change in benefit obligation
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation—July 1
$
18.8

 
$
82.1

 
$
708.8

 
$
203.6

 
$
63.8

 
$
47.7

 
$
791.4

 
$
333.4

Service cost
—

 
—

 
38.8

 
34.8

 
1.4

 
1.9

 
40.2

 
36.7

Interest cost
0.7

 
1.6

 
12.6

 
6.6

 
2.0

 
1.8

 
15.3

 
10.0

Plan participants’ contributions
—

 
—

 
7.1

 
15.0

 
0.2

 
0.2

 
7.3

 
15.2

Benefits paid
(1.3
)
 
(2.5
)
 
(29.6
)
 
(9.6
)
 
(1.6
)
 
(2.0
)
 
(32.5
)
 
(14.1
)
Premiums paid
—

 
—

 
(2.7
)
 
(2.9
)
 
—

 
—

 
(2.7
)
 
(2.9
)
Pension curtailment
—

 
—

 
0.3

 
(2.2
)
 
(10.4
)
 
—

 
(10.1
)
 
(2.2
)
Pension settlements
—

 
(60.2
)
 
(1.0
)
 
(23.0
)
 
—

 
—

 
(1.0
)
 
(83.2
)
Actuarial (gain) loss
(0.7
)
 
(2.2
)
 
(6.3
)
 
(80.9
)
 
(2.5
)
 
(1.4
)
 
(9.5
)
 
(84.5
)
Acquired obligations(a)
—

 
—

 
—

 
557.4

 
—

 
15.4

 
—

 
572.8

Effect of exchange rates
—

 
—

 
4.6

 
10.1

 
0.3

 
0.1

 
4.9

 
10.2

Other
—

 
—

 
—

 
(0.1
)
 
—

 
0.1

 
—

 
—

Benefit obligation—June 30
$
17.5

 
$
18.8

 
$
732.6

 
$
708.8

 
$
53.2

 
$
63.8

 
$
803.3

 
$
791.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change in plan assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets—July 1
$
—

 
$
53.2

 
$
234.2

 
$
42.4

 
$
0.4

 
$
—

 
$
234.6

 
$
95.6

Actual return on plan assets
—

 
(0.8
)
 
18.8

 
10.6

 
—

 
—

 
18.8

 
9.8

Employer contributions
1.3

 
10.1

 
37.1

 
29.8

 
1.4

 
1.8

 
39.8

 
41.7

Plan participants’ contributions
—

 
—

 
7.1

 
15.0

 
0.2

 
0.2

 
7.3

 
15.2

Benefits paid
(1.3
)
 
(2.5
)
 
(29.2
)
 
(9.6
)
 
(1.6
)
 
(2.0
)
 
(32.1
)
 
(14.1
)
Premiums paid
—

 
—

 
(2.7
)
 
(2.9
)
 
—

 
—

 
(2.7
)
 
(2.9
)
Plan settlements
—

 
(60.2
)
 
(1.0
)
 
(23.0
)
 
—

 
—

 
(1.0
)
 
(83.2
)
Acquired plan assets(a)
—

 
—

 
—

 
168.3

 
—

 
0.4

 
—

 
168.7

Effect of exchange rates
—

 
—

 
(2.5
)
 
3.6

 
—

 
—

 
(2.5
)
 
3.6

Other
—

 
0.2

 
—

 
—

 
—

 
—

 
—

 
0.2

Fair value of plan assets—June 30
—

 
—

 
261.8

 
234.2

 
0.4

 
0.4

 
262.2

 
234.6

Funded status—June 30
$
(17.5
)
 
$
(18.8
)
 
$
(470.8
)
 
$
(474.6
)
 
$
(52.8
)
 
$
(63.4
)
 
$
(541.1
)
 
$
(556.8
)
 
 
(a) As a result of the acquisition of the P&G Beauty Business, the Company acquired certain international pension plans during Fiscal 2017. See Note 3—Business Combinations for additional information.
Schedule of Amounts Recognized in Balance Sheet
With respect to the Company’s pension plans and other post-employment benefit plans, amounts recognized in the Company’s Consolidated Balance Sheets as of June 30, 2018 and 2017, are presented below:
 
Pension Plans
 
Other Post-Employment Benefits
 
Total
 
U.S.
 
International
 
 
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Noncurrent assets
$
—

 
$
—

 
$
1.1

 
$
0.5

 
$
—

 
$
—

 
$
1.1

 
$
0.5

Current liabilities
(1.3
)
 
(1.3
)
 
(5.5
)
 
(4.9
)
 
(2.1
)
 
(1.9
)
 
(8.9
)
 
(8.1
)
Noncurrent liabilities
(16.2
)
 
(17.5
)
 
(466.4
)
 
(470.2
)
 
(50.7
)
 
(61.5
)
 
(533.3
)
 
(549.2
)
Funded status
(17.5
)
 
(18.8
)
 
(470.8
)
 
(474.6
)
 
(52.8
)
 
(63.4
)
 
(541.1
)
 
(556.8
)
AOC(L)/I
1.7

 
2.5

 
44.7

 
25.1

 
20.1

 
23.9

 
66.5

 
51.5

Net amount recognized
$
(15.8
)
 
$
(16.3
)
 
$
(426.1
)
 
$
(449.5
)
 
$
(32.7
)
 
$
(39.5
)
 
$
(474.6
)
 
$
(505.3
)
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Pension plans with accumulated benefit obligations in excess of plan assets and projected benefit obligations in excess of plan assets are presented below:
 
Pension plans with accumulated benefit obligations in excess of plan assets
 
Pension plans with projected benefit obligations in excess of plan assets
 
U.S.
 
International
 
U.S.
 
International
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Projected benefit obligation
$
17.5

 
$
18.8

 
$
713.9

 
$
695.0

 
$
17.5

 
$
18.8

 
$
725.0

 
$
705.6

Accumulated benefit obligation
17.5

 
18.8

 
657.8

 
631.6

 
17.5

 
18.8

 
669.1

 
640.6

Fair value of plan assets
—

 
—

 
247.0

 
223.9

 
—

 
—

 
254.2

 
230.4
Components of net periodic benefit cost for pension plans and other post-employment plans
The components of net periodic benefit cost for pension plans and other post-employment benefit plans recognized in the Consolidated Statements of Operations are presented below:
 
Year Ended June 30,
 
Pension Plans
 
Other Post-
Employment Benefits
 
 
 
 
 
 
 
U.S.
 
International
 
 
Total
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Service cost
$
—

 
$
—

 
$
—

 
$
38.8

 
$
34.8

 
$
6.5

 
$
1.4

 
$
1.9

 
$
1.1

 
$
40.2

 
$
36.7

 
$
7.6

Interest cost
0.7

 
1.6

 
3.4

 
12.6

 
6.6

 
3.6

 
2.0

 
1.8

 
1.9

 
15.3

 
10.0

 
8.9

Expected return on plan assets
—

 
(0.9
)
 
(2.6
)
 
(7.5
)
 
(6.3
)
 
(1.1
)
 
—

 
—

 
—

 
(7.5
)
 
(7.2
)
 
(3.7
)
Amortization of prior service (credit) cost
—

 
—

 
—

 
0.2

 
0.2

 
0.2

 
(5.9
)
 
(5.9
)
 
(5.9
)
 
(5.7
)
 
(5.7
)
 
(5.7
)
Amortization of net loss (gain)
(0.7
)
 
2.3

 
1.2

 
1.2

 
4.2

 
2.6

 
(0.1
)
 
0.1

 
—

 
0.4

 
6.6

 
3.8

Settlements loss (gain) recognized
—

 
15.9

 
—

 
—

 
(0.5
)
 
0.1

 
—

 
—

 
—

 
—

 
15.4

 
0.1

Curtailment (gain) loss recognized
—

 
—

 
—

 
0.1

 
(2.2
)
 
—

 
(10.4
)
 
—

 
(1.8
)
 
(10.3
)
 
(2.2
)
 
(1.8
)
Net periodic benefit cost
$
—

 
$
18.9

 
$
2.0

 
$
45.4

 
$
36.8

 
$
11.9

 
$
(13.0
)
 
$
(2.1
)
 
$
(4.7
)
 
$
32.4

 
$
53.6

 
$
9.2
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Pre-tax amounts recognized in AOC(L)/I, which have not yet been recognized as a component of net periodic benefit cost are presented below:
 
Pension Plans
 
Other Post-Employment Benefits
 
 
 
 
 
U.S.
 
International
 
 
Total
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Net actuarial (loss) gain
$
1.7

 
$
2.5

 
$
46.7

 
$
27.4

 
$
3.8

 
$
1.7

 
$
52.2

 
$
31.6

Prior service (cost) credit
—

 
—

 
(2.0
)
 
(2.3
)
 
16.3

 
22.2

 
14.3

 
19.9

Total recognized in AOC(L)/I
$
1.7

 
$
2.5

 
$
44.7

 
$
25.1

 
$
20.1

 
$
23.9

 
$
66.5

 
$
51.5

Changes in plan assets and benefit obligations recognized in OCI/(L) during the fiscal year are presented below:
 
Pension Plans
 
Other Post-Employment Benefits
 
 
 
 
 
U.S.
 
International
 
 
Total
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Net actuarial (loss) gain
$
0.7

 
$
0.4

 
$
17.8

 
$
85.2

 
$
2.3

 
$
1.4

 
$
20.8

 
$
87.0

Amortization of prior service cost (credit)
—

 
—

 
0.2

 
0.2

 
(5.9
)
 
(5.9
)
 
(5.7
)
 
(5.7
)
Recognized net actuarial loss (gain)
(0.6
)
 
17.6

 
1.2

 
3.7

 
(0.1
)
 
0.1

 
0.5

 
21.4

Effect of exchange rates
—

 
—

 
0.3

 
2.7

 
0.1

 
0.3

 
0.4

 
3.0

Total recognized in OCI/(L)
$
0.1

 
$
18.0

 
$
19.5

 
$
91.8

 
$
(3.6
)
 
$
(4.1
)
 
$
16.0

 
$
105.7
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
Amounts in AOCI/(L) expected to be amortized as components of net periodic benefit cost during fiscal 2019 are presented below:
 
Pension Plans
 
Other Post-Employment Benefits
 
Total
 
U.S.
 
International
 
 
Prior service (cost) credit
$
—

 
$
(0.2
)
 
$
5.9

 
$
5.7

Net gain (loss)
0.7

 
(0.4
)
 
0.1

 
0.4

Total
$
0.7

 
$
(0.6
)
 
$
6.0

 
$
6.1
Schedule of Assumptions Used
The weighted-average assumptions used to determine the Company’s projected benefit obligation above are presented below:
 
Pension Plans
 
Other Post-Employment Benefits
 
U.S.
 
International
 
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Discount rates
4.0%
 
3.6%
 
0.6%-8.0%
 
0.4%-7.5%
 
2.3%-4.2%
 
1.9%-7.6%
Future compensation growth rates
N/A
 
N/A
 
1.5%-5.8%
 
0%-6.0%
 
N/A
 
 N/A
The weighted-average assumptions used to determine the Company’s net periodic benefit cost in fiscal 2018, 2017 and 2016 are presented below:
 
Pension Plans
 
Other Post-
Employment Benefits
 
U.S.
 
International
 
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Discount rates
3.6%
 
3.3%-3.8%
 
4.1%-4.5%
 
0.4%-7.5%
 
0.2%-7.8%
 
1.0%-2.7%
 
1.9%-7.6%
 
1.4%-8.0%
 
4.1%-4.6%
Future compensation growth rates
 N/A
 
 N/A
 
 N/A
 
1.5%-6.0%
 
1.5%-5.8%
 
1.5%-2.5%
 
 N/A
 
 N/A
 
 N/A
Expected long-term rates of return on plan assets
 N/A
 
 N/A
 
5.1%
 
1.8%-8.2%
 
1.6%-6.0%
 
2.3%-4.3%
 
 N/A
 
 N/A
 
 N/A
Schedule of Health Care Cost Trend Rates
The health care cost trend rate assumptions have a significant effect on the amounts reported.
 
Year Ended June 30,
 
2018
 
2017
 
2016
Health care cost trend rate assumed for next year
7.4%-8.5%
 
7.2%-7.4%
 
7.2%-7.4%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
5%
 
5%
 
5%
Year that the rate reaches the ultimate trend rate
2026
 
2025
 
2024 - 2025
Schedule of Effect of 1% Change in Assumed Health Care Cost Trend Rates
A one-percentage point change in assumed health care cost trend rates would have the following effects:
 
One Percentage Point Increase
 
One Percentage Point Decrease
Effect on total service cost and interest cost
$
6.1

 
$
(5.3
)
Effect on post-employment benefit obligation
0.4

 
(0.4
)
Schedule of Allocation of Plan Assets
The international pension plan assets that the Company measures at fair value on a recurring basis, based on the fair value hierarchy as described in Note 2—Summary of Significant Accounting Policies, as of June 30, 2018 and 2017 are presented below:
 
Level 1
 
Level 2
 
Level 3
 
Total
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Equity securities
$
63.0

 
$
53.4

 
$
—

 
$
—

 
$
—

 
$
—

 
$
63.0

 
$
53.4

Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Corporate securities
54.6

 
50.5

 
—

 
—

 
—

 
—

 
54.6

 
50.5

Other:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Cash and cash equivalents
0.9

 
0.5

 
—

 
—

 
—

 
—

 
0.9

 
0.5

  Insurance contracts and other
—

 
—

 
—

 
—

 
143.7

 
130.2

 
143.7

 
130.2

Total pension plan assets
$
118.5

 
$
104.4

 
$
—

 
$
—

 
$
143.7

 
$
130.2

 
$
262.2

 
$
234.6

The target asset allocations for the Company’s pension plans as of June 30, 2018 and 2017, by asset category are presented below:
 
 
 
% of Plan Assets at Year Ended
 
Target
 
2018
 
2017
Equity securities
40
%
 
41
%
 
41
%
Fixed income securities
50
%
 
42
%
 
39
%
Cash and other investments
10
%
 
17
%
 
20
%
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The reconciliations of Level 3 plan assets measured at fair value in fiscal 2018 and 2017 are presented below:
 
June 30,
2018
 
June 30,
2017
Insurance contracts:
 
 
 
Fair value—July 1
$
130.2

 
$
42.4

Plan assets from acquisitions
—

 
75.7

Return on plan assets
14.0

 
4.7

Purchases, sales and settlements, net
3.9

 
5.3

Effect of exchange rates
(4.4
)
 
2.1

Fair value—June 30
$
143.7

 
$
130.2
Schedule of Expected Benefit Payments
Expected benefit payments, which reflect expected future service, as appropriate, are presented below:
 
Pension Plans
 
Other Post-Employment Benefits
 
Total
Fiscal Year Ending June 30,
U.S.
 
International
 
 
2019
$
1.3

 
$
40.5

 
$
2.1

 
$
43.9

2020
1.3

 
26.6

 
2.5

 
30.4

2021
1.3

 
26.5

 
2.9

 
30.7

2022
1.3

 
29.1

 
3.1

 
33.5

2023
1.2

 
28.0

 
3.3

 
32.5

2024 - 2027
5.9

 
167.2

 
17.5

 
190.6