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EQUITY
9 Months Ended
Mar. 31, 2020
Equity [Abstract]  
EQUITY EQUITY
Common Stock
As of March 31, 2020, 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 March 31, 2020, total authorized shares of Class A Common Stock was 1,000.0 million and total outstanding shares of Class A Common Stock was 763.1 million.
As of March 31, 2020, the Company’s largest stockholder was Cottage Holdco B.V., which owned approximately 61% 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 nine months ended March 31, 2020, JABC acquired nil and nil shares of Class A Common Stock in open market purchases on the New York Stock Exchange, acquired 3.3 million and 3.3 million shares of Class A Common Stock from the Company's CEO and elected to receive 2.3 million and 7.3 million shares of Class A Common Stock, respectively, under the Company’s dividend reinvestment program.
Preferred Stock
As of March 31, 2020, total authorized shares of preferred stock are 20.0 million. There are two classes of Preferred Stock outstanding as of March 31, 2020, Series A Preferred Stock and Series A-1 Preferred Stock, both with a par value of $0.01 per share.
On March 27, 2020, the Company reacquired, retired and cancelled 7,905,341 shares of its Series A-1 Preferred Stock, reducing the total authorized number of shares of Series A-1 Preferred Stock from 7,905,341 to zero shares.
As of March 31, 2020, total authorized, issued and outstanding shares of Series A Preferred Stock were 1.5 million, respectively, and Series A-1 Preferred Stock were nil, 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 March 31, 2020, the Company has no Preferred Stock classified as equity, and $0.1 classified 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 nine months ended March 31, 2020, the Company did not repurchase any shares of its Class A Common Stock. As of March 31, 2020, 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 nine months ended March 31, 2020 in connection with the exit of an executive in September 2019.
Dividends
The following dividends were declared during the nine months ended March 31, 2020:
Declaration DateDividend TypeDividend Per ShareHolders of Record DateDividend ValueDividend Payment DateDividends 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, 2019Quarterly$0.125  November 18, 2019$0.125  December 27, 2019$65.5  $29.3  $1.3  
February 5, 2020Quarterly$0.125  February 18, 2020$0.125  March 27, 2020$66.4  $28.7  $1.2  
Fiscal 2020$0.375  $0.375  $195.2  $88.9  $3.6  

(a)The September 30, 2019, December 27, 2019 and March 27, 2020 stock dividend payments of $30.9, $29.3 and $28.7 resulted in the issuances of 3.2 million, 2.4 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 March 31, 2020 were $196.5, consisting of $195.2 dividends settled in cash, $3.6 dividends payable, offset by $2.3 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 $1.7 for the previously accrued dividends on RSUs that vested during the nine months ended March 31, 2020. Thus, total dividends settled in cash during the nine months ended March 31, 2020 were $196.9.
Total accrued dividends on unvested RSUs and phantom units of $2.0 and $4.9 are included in Accrued expenses and other current liabilities and Other noncurrent liabilities, respectively, in the Condensed Consolidated Balance Sheet as of March 31, 2020.
For the period through April 1, 2021, our 2018 Coty Credit Agreement, as amended, limits our ability to declare cash dividends.
Accumulated Other Comprehensive Income (Loss)
Foreign Currency Translation Adjustments
Loss on Cash Flow HedgesGain on Net Investment HedgeOther 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 (loss) income before reclassifications(31.4) 121.7  (506.9) —  (416.6) 
Net amounts reclassified from AOCI/(L)1.5  —  —  (4.6) (3.1) 
Net current-period other comprehensive (loss) income(29.9) 121.7  (506.9) (4.6) (419.7) 
Balance—March 31, 2020  $(43.2) $336.5  $(764.3) $(7.5) $(478.5) 

(a) For the nine months ended March 31, 2020, 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 $4.6, net of tax of $0.0.
Foreign Currency Translation Adjustments
Gain on Cash Flow HedgesGain on Net Investment HedgeOther Foreign Currency Translation AdjustmentsPension and Other Post-Employment Benefit PlansTotal
Balance—July 1, 2018  $31.7  $115.0  $(44.3) $56.4  $158.8  
Other comprehensive (loss) income before reclassifications(20.8) 149.1  (276.7) —  (148.4) 
Net amounts reclassified from AOCI/(L)(7.9) —  —  (4.0) (11.9) 
Net current-period other comprehensive (loss) income(28.7) 149.1  (276.7) (4.0) (160.3) 
Balance—March 31, 2019  $3.0  $264.1  $(321.0) $52.4  $(1.5)