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RESTRUCTURING COSTS
9 Months Ended
Mar. 31, 2020
Restructuring and Related Activities [Abstract]  
RESTRUCTURING COSTS RESTRUCTURING COSTS
Restructuring costs for the three and nine months ended March 31, 2020 and 2019 are presented below:
Three Months Ended
March 31,
Nine Months Ended
March 31,
2020201920202019
Turnaround Plan$6.0  $—  $152.6  $—  
Global Integration Activities(11.8) 2.6  (16.2) 31.3  
2018 Restructuring Actions(0.9) 4.5  (1.9) 13.3  
Other Restructuring—  (0.4) (0.3) (0.9) 
Total$(6.7) $6.7  $134.2  $43.7  
Turnaround Plan
In connection with the four-year plan announced on July 1, 2019 to drive substantial improvement in and optimization in the Company's businesses (the “Turnaround Plan”), the Company has and expects to continue to incur restructuring and related costs. On May 11, 2020, the Company announced an expansion of the Turnaround Plan. Over the next four fiscal years, the Company expects to incur approximately $170.0 of additional restructuring charges pertaining to the approved actions, primarily related to employee termination benefits, contract terminations and other exit-related costs.
Of the expected costs, the Company has incurred cumulative restructuring charges of $152.6 related to approved initiatives through March 31, 2020, which have been recorded in Corporate. The following table presents aggregate restructuring charges for the program:
Severance and Employee BenefitsThird-Party Contract TerminationsFixed Asset Write-offsOther Exit CostsTotal
Cumulative through March 31, 2020$146.7  $0.1  $(0.3) $6.1  $152.6  
The related liability balance and activity for the Turnaround Plan restructuring costs are presented below:
Severance and Employee BenefitsThird-Party Contract TerminationsFixed Asset Write-offsOther Exit CostsTotal
Balance—July 1, 2019$—  $—  $—  $—  $—  
Restructuring charges159.6  0.1  (0.3) 6.1  165.5  
Payments(13.5) —  —  (3.9) (17.4) 
Changes in estimates(12.9) —  —  —  (12.9) 
Non-cash utilization—  —  0.3  —  0.3  
ASC 842 adoption adjustment—  —  —  (1.5) (1.5) 
Effect of exchange rates(0.1) —  —  —  (0.1) 
Balance—March 31, 2020$133.1  $0.1  $—  $0.7  $133.9  
The Company currently estimates that the total remaining accrual of $133.9 will result in cash expenditures of approximately $33.2, $87.0 and $13.7 in fiscal 2020, 2021 and thereafter, respectively.
Global Integration Activities
In connection with the acquisition of The Procter & Gamble Company’s beauty business, the Company has incurred restructuring and related costs aimed at integrating and optimizing the combined organization (“Global Integration Activities”).
Of the expected costs, the Company has incurred cumulative restructuring charges of $483.8 related to approved initiatives through March 31, 2020, which have been recorded in Corporate. The following table presents aggregate restructuring charges for the program:
Severance and Employee BenefitsThird-Party Contract TerminationsFixed Asset Write-offsOther Exit CostsTotal
Fiscal 2017$333.9  $22.4  $4.6  $4.1  $365.0  
Fiscal 201867.5  19.3  14.3  5.4  106.5  
Fiscal 2019(6.0) 4.5  27.8  2.2  28.5  
Fiscal 2020(10.5) (5.6) —  (0.1) (16.2) 
Cumulative through March 31, 2020$384.9  $40.6  $46.7  $11.6  $483.8  
The related liability balance activity for the Global Integration Activities restructuring costs are presented below:
Severance and
Employee
Benefits
Third-Party
Contract
Terminations
Other
Exit
Costs
Total
Program
Costs
Balance—July 1, 2019  $53.7  $11.7  $1.6  $67.0  
ASC 842 adoption adjustment—  —  (1.5) (1.5) 
Payments  (22.1) (3.3) —  (25.4) 
Changes in estimates(10.5) (5.6) (0.1) (16.2) 
Effect of exchange rates  (1.2) —  —  (1.2) 
Balance—March 31, 2020  $19.9  $2.8  $—  $22.7  
The Company currently estimates that the total remaining accrual of $22.7 will result in cash expenditures of approximately $8.8, $13.6 and $0.3 in fiscal 2020, 2021 and thereafter, respectively.
2018 Restructuring Actions
During fiscal 2018, the Company began evaluating initiatives to reduce fixed costs and enable further investment in the business (the “2018 Restructuring Actions”).
Of the expected costs, the Company incurred cumulative restructuring charges of $83.3 related to approved initiatives through March 31, 2020, primarily related to role eliminations in Europe and North America, which have been recorded in Corporate. The following table presents aggregate restructuring charges for the program:
Severance and Employee BenefitsThird-Party Contract TerminationsFixed Asset Write-offsOther Exit CostsTotal
Fiscal 2018$63.5  $0.2  $1.3  $3.4  $68.4  
Fiscal 201915.4  (0.1) —  1.5  16.8  
Fiscal 2020  (1.9) —  —  —  (1.9) 
Cumulative through March 31, 2020  $77.0  $0.1  $1.3  $4.9  $83.3  
The related liability balance and activity of restructuring costs for the 2018 Restructuring Actions are presented below:
Severance and
Employee
Benefits
Third-Party
Contract
Terminations
Other Exit Costs
Total
Program
Costs
Balance—July 1, 2019  $15.5  $0.1  $1.5  $17.1  
Payments  (8.2) (0.1) —  (8.3) 
Changes in estimates  (1.9) —  —  (1.9) 
ASC 842 adoption adjustment  —  —  (1.2) (1.2) 
Effect of exchange rates  (0.3) —  —  (0.3) 
Balance—March 31, 2020  $5.1  $—  $0.3  $5.4  
The Company currently estimates that the total remaining accrual of $5.4 will result in cash expenditures of approximately $2.1 and $3.3 in fiscal 2020 and 2021, respectively.
Other Restructuring
The Company executed a number of other legacy restructuring activities in prior years, which are substantially completed. The Company recognized (income) expenses, net, of $(0.3) and $(0.9) during the nine months ended March 31, 2020 and 2019, respectively. The related liability balances were $3.3 and $9.0 at March 31, 2020 and June 30, 2019, respectively. The Company currently estimates that the total remaining accrual of $3.3 will result in cash expenditures of $0.9, $1.8 and $0.6 in fiscal 2020, 2021 and thereafter, respectively.