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REVENUE RECOGNITION (Tables)
 6 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of new accounting pronouncements
The following table presents our results under our historical method of accounting and as adjusted to reflect our adoption of ASU No. 2017-07:
 
Three Months Ended
December 31, 2017
 
Six Months Ended
December 31, 2017
 
As Previously Reported
 
Effect of Adoption of ASU No. 2017-07
 
As Adjusted
 
As Previously Reported
 
Effect of Adoption of ASU No. 2017-07
 
As Adjusted
Cost of sales
$
1,025.0

 
$
(0.1
)
 
$
1,024.9

 
$
1,899.3

 
$
(0.2
)
 
$
1,899.1

Selling, general and administrative expenses
1,319.9

 
(0.7
)
 
1,319.2

 
2,511.7

 
(1.4
)
 
2,510.3

Operating income
174.4

 
0.8

 
175.2

 
203.1

 
1.6

 
204.7

Other expense, net
3.4

 
0.8

 
4.2

 
7.1

 
1.6

 
8.7

Net income
118.6

 
—

 
118.6

 
102.5

 
—

 
102.5

The following table summarizes the impacts of adopting the New Revenue Standard on the Condensed Consolidated Statements of Operations for the Six Months Ended December 31, 2018:
 
As reported (New Revenue Standard)
 
Current period adjustments
 
As adjusted (previous revenue standard)
Net revenues
$
4,542.5

 
$
(16.7
)
 
$
4,525.8

Selling, general and administrative expenses
2,406.3

 
1.3

 
2,407.6

Net loss
(966.1
)
 
(13.4
)
 
(979.5
)
Net loss attributable to Coty Inc.
(972.7
)
 
(13.6
)
 
(986.3
)
 
 
 
 
 
 
Net loss attributable to Coty Inc. per common share:
 
 
 
 
 
Basic
$
(1.30
)
 
$
(0.02
)
 
$
(1.32
)
Diluted
(1.30
)
 
(0.02
)
 
(1.32
)
The cumulative effects of the revenue accounting changes on the Company's Condensed Consolidated Balance Sheet as of July 1, 2018 were as follows:
 
June 30, 2018
 
Adjustments
 
July 1, 2018
ASSETS
 
 
 
 
 
Property and equipment, net
$
1,680.8

 
$
(6.2
)
 
$
1,674.6

Deferred income taxes
107.4

 
0.6

 
108.0

Other noncurrent assets
299.5

 
6.9

 
306.4

 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Accrued expenses and other current liabilities
$
1,844.4

 
$
20.7

 
$
1,865.1

Deferred income taxes
842.5

 
(1.2
)
 
841.3

Accumulated deficit
(626.2
)
 
(18.2
)
 
(644.4
)
The following table summarizes the impacts of adopting the New Revenue Standard on the Condensed Consolidated Statements of Operations for the Three Months Ended December 31, 2018:
 
As reported (New Revenue Standard)
 
Current period adjustments
 
As adjusted (previous revenue standard)
Net revenues
$
2,511.2

 
$
(23.9
)
 
$
2,487.3

Selling, general and administrative expenses
1,284.0

 
0.2

 
1,284.2

Net loss
(956.0
)
 
(18.3
)
 
(974.3
)
Net loss attributable to Coty Inc.
(960.6
)
 
(18.1
)
 
(978.7
)
 
 
 
 
 
 
Net loss attributable to Coty Inc. per common share:
 
 
 
 
 
Basic
$
(1.28
)
 
$
(0.02
)
 
$
(1.30
)
Diluted
(1.28
)
 
(0.02
)
 
(1.30
)