EQUITY

6 Months Ended

Dec. 31, 2019

Common Stock

As of December 31, 2019, the Company’s common stock consisted of Class A Common Stock with a par value of $0.01 per share. The holders of Class A Common Stock are entitled to one vote per share. As of December 31, 2019, total authorized shares of Class A Common Stock was 1,000.0 million and total outstanding shares of Class A Common Stock was 760.5 million.

As of December 31, 2019, the Company’s largest stockholder was Cottage Holdco B.V., which owned approximately 60% of Coty’s outstanding Class A Common Stock. Cottage Holdco B.V., a wholly-owned subsidiary of JAB Cosmetics B.V. (“JABC”), is indirectly controlled by Lucresca SE, Agnaten SE and JAB Holdings B.V. (“JAB”). During the three and six months ended December 31, 2019, JABC acquired nil shares of Class A Common Stock in open market purchases on the New York Stock Exchange and elected to receive 2.2 million and 5.0 million shares of Class A Common Stock, respectively, under the Company’s dividend reinvestment program.

Preferred Stock

As of December 31, 2019, total authorized shares of preferred stock are 20.0 million. There are two classes of Preferred Stock outstanding as of December 31, 2019, Series A Preferred Stock and Series A-1 Preferred Stock, both with a par value of $0.01 per share.

As of December 31, 2019, total authorized, issued and outstanding shares of Series A Preferred Stock and Series A-1 Preferred Stock are 1.5 million and 7.9 million, respectively. The Series A Preferred Stock and Series A-1 Preferred Stock are not entitled to receive any dividends and have no voting rights except as required by law.

As of December 31, 2019, the Company classified $1.7 of Preferred Stock as equity, and $2.0 as a liability recorded in Other noncurrent liabilities in the Condensed Consolidated Balance Sheet.

Treasury Stock

Share Repurchase Program

Since February 2014, the Board has authorized the Company to repurchase its Class A Common Stock under approved repurchase programs. On February 3, 2016, the Board authorized the Company to repurchase up to $500.0 of its Class A Common Stock (the “Incremental Repurchase Program”). Repurchases may be made from time to time at the Company’s discretion, based on ongoing assessments of the capital needs of the business, the market price of its Class A Common Stock, and general market conditions. For the three and six months ended December 31, 2019, the Company did not repurchase any shares of its Class A Common Stock. As of December 31, 2019, the Company had authority for $396.8 remaining under the Incremental Repurchase Program.

Other Repurchases

The Company repurchased 0.5 million shares of its Class A Common Stock for $4.5 during the six months ended December 31, 2019 in connection with the exit of an executive in September 2019.

Dividends

The following dividends were declared during the six months ended December 31, 2019:


Declaration Date	Dividend Type	Dividend Per Share		Holders of Record Date	Dividend Value		Dividend Payment Date	Dividends Settled in Cash		Dividends Settled in Stock^(a)		Dividends Payable ^(b)
Fiscal 2020
August 28, 2019	Quarterly	$	0.125	September 9, 2019	$	0.125	September 30, 2019	$	63.3	$	30.9	$	1.1
November 6, 2019	Quarterly	$	0.125	November 18, 2019	$	0.125	December 27, 2019	$	65.5	$	29.3	$	1.3

Fiscal 2020		$	0.250		$	0.250		$	128.8	$	60.2	$	2.4

^(a)The September 30, 2019 and December 27, 2019 stock dividend payment of $30.9 and $29.3 resulted in the issuance of 3.2 million and 2.4 million shares of Class A Common Stock, respectively.

^(b)The dividend payable is the value of the remaining dividends payable upon settlement of the RSUs and phantom units outstanding as of the Holders of Record Date. Dividends payable are recorded as Accrued expense and other current liabilities and Other noncurrent liabilities in the Condensed Consolidated Balance Sheet.

Total dividends in cash and other recorded to additional paid-in capital (“APIC”) in the Condensed Consolidated Balance Sheet as of December 31, 2019 were $129.6, consisting of $128.8 dividends settled in cash, $2.4 dividends payable, offset by $1.6 of dividends no longer expected to vest as a result of forfeitures of outstanding RSUs.

In addition to the activity noted above, the Company made a payment of $1.6 for the previously accrued dividends on RSUs that vested during the six months ended December 31, 2019. Thus, total dividends settled in cash during the six months ended December 31, 2019 were $130.4.

Total accrued dividends on unvested RSUs and phantom units of $2.1 and $4.4 are included in Accrued expenses and other current liabilities and Other noncurrent liabilities, respectively, in the Condensed Consolidated Balance Sheet as of December 31, 2019.

Accumulated Other Comprehensive Income (Loss)


			Foreign Currency Translation Adjustments
	(Loss) gain on Cash Flow Hedges		Gain on Net Investment Hedge		Other Foreign Currency Translation Adjustments		Pension and Other Post-Employment Benefit Plans^(a)		Total
Balance—July 1, 2019	$	(13.3)	$	214.8	$	(257.4)	$	(2.9)	$	(58.8)
Other comprehensive income (loss) before reclassifications	4.9		39.3		(60.0)		—		(15.8)
Net amounts reclassified from AOCI/(L)	0.2		—		—		(3.1)		(2.9)
Net current-period other comprehensive income (loss)	5.1		39.3		(60.0)		(3.1)		(18.7)
Balance—December 31, 2019	$	(8.2)	$	254.1	$	(317.4)	$	(6.0)	$	(77.5)

^(a) For the six months ended December 31, 2019, net amounts reclassified from AOCI/(L) related to pensions and other post-employment benefit plans included amortization of prior service credits and actuarial loss of $(3.1), net of tax of $0.0.


			Foreign Currency Translation Adjustments
	Gain on Cash Flow Hedges		Gain on Net Investment Hedge		Other Foreign Currency Translation Adjustments		Pension and Other Post-Employment Benefit Plans		Total
Balance—July 1, 2018	$	31.7	$	115.0	$	(44.3)	$	56.4	$	158.8
Other comprehensive (loss) income before reclassifications	(11.8)		78.6		(187.7)		—		(120.9)
Net amounts reclassified from AOCI/(L)	(5.9)		—		—		1.6		(4.3)
Net current-period other comprehensive (loss) income	(17.7)		78.6		(187.7)		1.6		(125.2)
Balance—December 31, 2018	$	14.0	$	193.6	$	(232.0)	$	58.0	$	33.6