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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Property and equipment, net Depreciation and amortization are computed principally using the straight-line method over the following estimated useful lives:
Description
Estimated Useful Lives
Buildings
20-40 years
Marketing furniture and fixtures
3-5 years
Machinery and equipment
2-15 years
Computer equipment and software
2-5 years
Property and equipment under capital leases and leasehold improvements
Lesser of lease term or economic life

Property and equipment, net as of June 30, 2019 and 2018 are presented below:
 
June 30,
2019
 
June 30,
2018
Land, buildings and leasehold improvements
$
679.0

 
$
671.2

Machinery and equipment
904.4

 
866.3

Marketing furniture and fixtures
578.0

 
514.2

Computer equipment and software
819.5

 
699.1

Construction in progress
134.2

 
230.8

Property and equipment, gross
3,115.1

 
2,981.6

Accumulated depreciation and amortization
(1,514.5
)
 
(1,300.8
)
Property and equipment, net
$
1,600.6

 
$
1,680.8
Schedule of finite-lived other intangible assets
Intangible assets with finite lives are amortized principally using the straight-line method over the following estimated useful lives:
Description
Estimated Useful Lives
License agreements
5-34 years
Customer relationships
2-28 years
Trademarks
2-30 years
Product formulations and technology
3-29 years

Other intangible assets, net as of June 30, 2019 and 2018 are presented below:
 
June 30,
2019
 
June 30,
2018
Indefinite-lived other intangible assets
$
2,729.8

 
$
3,186.2

Finite-lived other intangible assets, net
4,692.5

 
5,098.2

Total Other intangible assets, net
$
7,422.3

 
$
8,284.4


Intangible assets subject to amortization are presented below:
 
Cost
 
Accumulated Amortization
 
Accumulated Impairment
 
Net
June 30, 2018
 
 
 
 
 
 
 
License agreements
$
3,362.7

 
$
(792.9
)
 
$
—

 
$
2,569.8

Customer relationships
1,960.5

 
(508.7
)
 
(5.5
)
 
1,446.3

Trademarks
1,002.1

 
(185.5
)
 
(0.4
)
 
816.2

Product formulations and technology
361.2

 
(95.3
)
 
—

 
265.9

Total
$
6,686.5

 
$
(1,582.4
)
 
$
(5.9
)
 
$
5,098.2

June 30, 2019
 
 
 
 
 
 
 
License agreements (a)
$
3,245.3

 
$
(874.5
)
 
$
(19.6
)
 
$
2,351.2

Customer relationships (a)
1,951.6

 
(642.0
)
 
(5.5
)
 
1,304.1

Trademarks (b)
1,039.5

 
(229.4
)
 
(0.5
)
 
809.6

Product formulations and technology
354.1

 
(126.5
)
 
—

 
227.6

Total
$
6,590.5

 
$
(1,872.4
)
 
$
(25.6
)
 
$
4,692.5

 
 

(a) Includes measurement period adjustments during the twelve month period ended June 30, 2019 in connection with the Burberry Beauty Business acquisition (Refer to Note 3—Business Combinations).
(b) Includes acquired trademark of $40.8.
Recently adopted, recently issued and not Yyet adopted 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:
 
Year Ended June 30,
 
2018
 
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
$
3,608.4

 
$
(0.6
)
 
$
3,607.8

 
$
3,028.5

 
$
(0.2
)
 
$
3,028.3

Selling, general and administrative expenses
5,009.6

 
8.5

 
5,018.1

 
4,060.0

 
(19.3
)
 
4,040.7

Restructuring costs
173.2

 
—

 
173.2

 
372.2

 
2.6

 
374.8

Operating income
161.2

 
(7.9
)
 
153.3

 
(437.8
)
 
16.9

 
(420.9
)
Other expense, net
38.0

 
(7.9
)
 
30.1

 
1.6

 
16.9

 
18.5

Net income
(127.8
)
 
—

 
(127.8
)
 
(398.5
)
 
—

 
(398.5
)

Recently Issued and Not Yet Adopted Accounting Pronouncements
Accounting Standard Update(s)
 
Topic
 
Effective Period
 
Summary
2018-13
 
Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement
 
Fiscal 2021 with early adoption permitted.
 
The FASB issued authoritative guidance that modifies the disclosure requirements by removing, modifying and adding disclosures related to fair value measurements. The Company is evaluating the impact this guidance will have on the Company’s Consolidated Financial Statements and related disclosures.
2018-14
 
Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans
 
Fiscal 2021 with early adoption permitted.
 
The FASB issued authoritative guidance that modifies the disclosure requirements by removing, modifying and clarifying disclosures related to defined benefit plans. The Company is evaluating the impact this guidance will have on the Company’s Consolidated Financial Statements and related disclosures.
2016-13
2018-19
 
Measurement of Credit Losses on Financial Instruments

 
Fiscal 2021 with early adoption permitted.
 
The FASB issued authoritative guidance, which requires that a financial asset (or a group of financial assets) measured at an amortized cost basis be presented at the net amount expected to be collected. This approach to estimating credit losses applies to most financial assets measured at amortized cost and certain other instruments, including but not limited to, trade and other receivables. The Company is evaluating the impact this guidance will have on the Company’s Consolidated Financial Statements and related disclosures.
2016-02
2018-10
2018-11
2018-20
 
Leases
 
Fiscal 2020.
 
In February 2016, the FASB issued ASU No. 2016-02, Leases, which requires lessees to recognize assets and liabilities for most leases. Under the new standard, a lessee should recognize in the Consolidated Balance Sheets a liability to make future lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed from current U.S. GAAP standards. Additional ASUs have since been issued which provide amended and additional guidance for the implementation of ASU No. 2016-02. All related guidance has been codified into, and is now known as, ASC 842, Leases. The new leasing guidance will be effective for the Company in fiscal 2020 with early adoption permitted. The Company has provisionally determined the following:

The Company will adopt the standard using the modified retrospective approach whereby it will recognize a transition adjustment at the effective date of ASC 842, July 1, 2019, rather than at the beginning of the earliest comparative period presented. Prior period information will not be restated.

In addition, the Company will apply the package of practical expedients permitted under the transition guidance within the new standard, which allows a lessee to carryforward their population of existing leases, the classification of each lease, as well as the treatment of initial direct costs as of the period of adoption.

The Company has identified the population of leases to which the guidance applies and has implemented changes in its systems, procedures and controls relating to how lease information is obtained, processed and analyzed. Based on its preliminary assessment, the Company expects that the adoption of this standard will result in a material increase in the lease-related assets and liabilities on its balance sheet, but expects minimal impact to its statement of operations and cash flows.

The cumulative effects of the revenue accounting changes on the Company's 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 Consolidated Statements of Operations for fiscal 2019:
 
As reported (New Revenue Standard)
 
Current period adjustments
 
As adjusted (previous revenue standard)
Net revenues
$
8,648.5

 
$
1.8

 
$
8,650.3

Selling, general and administrative expenses
4,563.9

 
3.4

 
4,567.3

Net (loss) income
(3,769.6
)
 
(1.3
)
 
(3,770.9
)
Net (loss) income attributable to Coty Inc.
(3,784.2
)
 
(0.9
)
 
(3,785.1
)
 
 
 
 
 
 
Net (loss) income attributable to Coty Inc. per common share:
 
 
 
 
 
Basic
$
(5.04
)
 
$
—

 
$
(5.04
)
Diluted
(5.04
)
 
—

 
(5.04
)