ACQUISITION- AND DIVESTITURE-RELATED COSTS

12 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

ACQUISITION- AND DIVESTITURE-RELATED COSTS

ACQUISITION- AND DIVESTITURE-RELATED COSTS

Acquisition-related costs, which are expensed as incurred, represent non-restructuring costs directly related to acquiring and integrating an entity, for both completed and contemplated acquisitions and can include finder’s fees, legal, accounting, valuation, other professional or consulting fees, and other internal costs which can include compensation related expenses for dedicated internal resources. The Company recognized acquisition-related costs of $19.7, nil and $64.2 for the fiscal years ended 2020, 2019 and 2018, respectively, which have been recorded in Acquisition- and divestiture-related costs in the Consolidated Statements of Operations. Acquisition-related costs incurred during the fiscal year ended 2020 were primarily related to the King Kylie Transaction and the pending transaction with Kim Kardashian West. Acquisition- related costs incurred during the fiscal year ended 2018 were primarily related to the P&G Beauty Business acquisition.

Divestiture-related costs, which are expensed as incurred, represent non-restructuring costs directly related to divesting and selling an entity, for both completed and contemplated divestitures. These costs can include legal, accounting, information technology, other professional or consulting fees and other internal costs. Internal costs can include compensation related expenses for dedicated internal resources. Additionally, for divestitures, we include write-offs of assets that are no longer recoverable and contract related costs due to the divestiture. The Company recognized divestiture-related costs of $137.6, nil and nil for the fiscal 2020, 2019 and 2018, respectively. Divestiture-related costs incurred during the fiscal 2020 were primarily related to the definitive agreement with KKR regarding the strategic transaction for the sale of the Wella Business. See Note 1—Description of Business for information on the strategic transaction.

These costs have been recorded in Acquisition and divestiture-related costs in the Consolidated Statements of Operations