ACQUISITION AND DIVESTITURE-RELATED COSTS

3 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

ACQUISITION AND DIVESTITURE-RELATED COSTS

ACQUISITION AND DIVESTITURE-RELATED COSTSAcquisition-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 $0.0 and $0.0 for the three months ended September 30, 2020 and 2019, respectively.

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 $46.3 and $0.0 for the three months ended September 30, 2020 and 2019, respectively. Divestiture-related costs incurred during the three months ended September 30, 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 Condensed Consolidated Statements of Operations.