BUSINESS COMBINATIONS (Tables)

3 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Schedule of the allocation of the purchase price to net assets acquired

The following table summarizes the allocation of the purchase price to the net assets of the Burberry Beauty Business as of the October 2, 2017 acquisition date:

	Estimated fair value as previously reported (a)			Measurement period adjustments (b)			Final fair value as adjusted			Estimated useful life (in years)
Inventories	$	47.9		$	—		$	47.9
Property, plant and equipment	5.8			—			5.8			1 - 3
License and distribution rights	177.8			6.7			184.5			3 - 15
Goodwill	34.9			(9.4		)	25.5			Indefinite
Net other liabilities	(10.1		)	2.7			(7.4		)
Total purchase price	$	256.3		$	—		$	256.3

^(a)  As previously reported in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018.

^(b)  The Company recorded measurement period adjustments in the first quarter of fiscal 2019. The measurement period adjustments related to an increase in the value of the License and distribution rights due to changes in assumptions that were used at the date of acquisition for valuation purposes. The measurement period adjustment related to the decrease in net other liabilities acquired was a result of obtaining new facts and circumstances about acquired accrued expenses that existed as of the acquisition date. All measurement period adjustments were offset against Goodwill.