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INCOME TAXES (Tables)
 12 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
Schedule of income before income tax
(Loss) income before income taxes in fiscal 2019, 2018 and 2017 is presented below:
 
Year Ended June 30,

2019
 
2018
 
2017
United States
$
(1,994.3
)
 
$
(324.2
)
 
$
(524.8
)
Foreign
(1,783.8
)
 
171.7

 
(133.2
)
Total
$
(3,778.1
)
 
$
(152.5
)
 
$
(658.0
)
Schedule of components of income tax expense (benefit)
The components of the Company’s total (benefit) provision for income taxes during fiscal 2019, 2018 and 2017 are presented below:
 
Year Ended June 30,

2019
 
2018
 
2017
(Benefit) provision for income taxes:
 
 
 
 
 
Current:
 
 
 
 
 
Federal
$
0.8

 
$
0.2

 
$
0.4

State and local
11.1

 
9.8

 
1.1

Foreign
155.3

 
67.0

 
129.0

Total
167.2

 
77.0

 
130.5

Deferred:
 
 
 
 
 
Federal
(116.6
)
 
25.2

 
(256.9
)
State and local
(49.9
)
 
(0.7
)
 
(24.2
)
Foreign
(9.2
)
 
(126.2
)
 
(108.9
)
Total
(175.7
)
 
(101.7
)
 
(390.0
)
Benefit for income taxes
$
(8.5
)
 
$
(24.7
)
 
$
(259.5
)
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 2019, 2018 and 2017 is presented below:
 
Year Ended June 30,

2019
 
2018
 
2017
Income (loss) before income taxes
$
(3,778.1
)
 
$
(152.5
)
 
$
(658.0
)
Benefit for income taxes at statutory rate
$
(793.4
)
 
$
(42.8
)
 
$
(230.3
)
State and local taxes—net of federal benefit
(30.7
)
 
9.9

 
(15.0
)
Foreign tax differentials
58.8

 
(21.9
)
 
53.3

Change in valuation allowances
(6.7
)
 
8.6

 
(108.2
)
Change in unrecognized tax benefit
43.4

 
(24.8
)
 
25.6

Tax Act
—

 
41.0

 
—

Permanent differences—net
1.8

 
(8.5
)
 
1.2

Amortization on intercompany sale
—

 
5.4

 
5.7

Goodwill impairment
693.0

 
—

 
—

Other
25.3

 
8.4

 
8.2

(Benefit) provision for income taxes
$
(8.5
)
 
$
(24.7
)
 
$
(259.5
)
Effective income tax rate
0.2
%
 
16.2
%
 
39.4
%
Schedule of deferred tax assets and liabilities
Significant components of deferred income tax assets and liabilities as of June 30, 2019 and 2018 are presented below:

June 30,
2019
 
June 30,
2018
Deferred income tax assets:
 
 
 
Inventories
$
21.6

 
$
9.0

Accruals and allowances
63.1

 
84.2

Sales returns
18.4

 
13.1

Share-based compensation
14.8

 
13.4

Employee benefits
133.8

 
115.7

Net operating loss carry forwards and tax credits
294.3

 
285.1

Interest expense limitation carry forward
52.3

 
—

Other
37.1

 
48.3

Less: valuation allowances
(67.7
)
 
(104.6
)
Net deferred income tax assets
567.7

 
464.2

Deferred income tax liabilities:
 
 
 
Intangible assets
986.6

 
1,115.7

Property, plant and equipment
13.4

 
18.9

Unrealized gain
0.5

 
5.4

Licensing rights
23.7

 
21.5

Other
49.7

 
37.8

Deferred income tax liabilities
1,073.9

 
1,199.3

Net deferred income tax liabilities
$
(506.2
)
 
$
(735.1
)
Expirations of tax loss carryforwards
The expirations of tax loss carry forwards, amounting to $1,272.7 as of June 30, 2019, 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
2020
$
—

 
$
—

 
$
68.1

 
$
68.1

2021
—

 
—

 
13.3

 
13.3

2022
—

 
1.2

 
18.5

 
19.7

2023
—

 
1.7

 
8.3

 
10.0

2024 and thereafter
149.8

 
835.4

 
176.4

 
1,161.6

Total
$
149.8

 
$
838.3

 
$
284.6

 
$
1,272.7
Reconciliation of unrecognized tax benefits
A reconciliation of the beginning and ending amount of UTBs is presented below:
 
Year Ended June 30,
 
2019
 
2018
 
2017
UTBs—July 1
$
303.6

 
$
257.9

 
$
228.9

Additions based on tax positions related to the current year
49.1

 
44.1

 
43.6

Additions for tax positions of prior years
8.3

 
97.4

 
0.4

Reductions for tax positions of prior years
(9.6
)
 
(39.9
)
 
—

Settlements
(2.7
)
 
(42.3
)
 
(1.5
)
Lapses in statutes of limitations
(9.0
)
 
(11.0
)
 
(13.2
)
Foreign currency translation
(3.6
)
 
(2.6
)
 
(0.3
)
UTBs—June 30
$
336.1

 
$
303.6

 
$
257.9