RESTRUCTURING COSTS

9 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

RESTRUCTURING COSTS

RESTRUCTURING COSTS

Restructuring costs for the three and nine months ended March 31, 2021 and 2020 are presented below:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2021		2020		2021		2020
Transformation Plan	$	4.7	$	3.5	$	98.4	$	142.9
Other Restructuring	(4.7)		(11.5)		(8.7)		(17.4)
Total	$	—	$	(8.0)	$	89.7	$	125.5

Transformation Plan

In connection with the four-year plan announced on July 1, 2019 to drive substantial improvement 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 to further reduce fixed costs, (the “Transformation Plan”). Of the expected costs, the Company has incurred cumulative restructuring charges of $255.0 related to approved initiatives through March 31, 2021, which have been recorded in Corporate.

Over the next three fiscal years, the Company expects to incur approximately $80.0 of additional restructuring charges pertaining to the approved actions, primarily related to employee termination benefits, contract terminations and other exit-related costs.

The following table presents aggregate restructuring charges for the program:

	Severance and Employee Benefits		Fixed Asset Write-offs		Other Exit Costs		Total
Fiscal 2020	$	151.2	$	(1.1)	$	6.5	$	156.6
Fiscal 2021	98.4		(0.4)		0.4		98.4
Cumulative through March 31, 2021	$	249.6	$	(1.5)	$	6.9	$	255.0

The related liability balance and activity for the Transformation Plan restructuring costs are presented below:

	Severance and Employee Benefits		Fixed Asset Write-offs		Other Exit Costs		Total
Balance—July 1, 2020	$	131.9	$	—	$	0.7	$	132.6
Restructuring charges	118.7		(0.4)		0.4		118.7
Payments	(62.6)		—		(0.2)		(62.8)
Changes in estimates	(20.3)		—		—		(20.3)
Non-cash utilization	—		0.4		—		0.4
Adjustment for sale of the Wella Business	(0.6)		—		—		(0.6)
Effect of exchange rates	5.3		—		—		5.3
Balance—March 31, 2021	$	172.4	$	—	$	0.9	$	173.3

The Company currently estimates that the total remaining accrual of $173.3 will result in cash expenditures of approximately $34.5, $119.6 and $19.2 in fiscal 2021, 2022 and thereafter, 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 $(4.7) and $(11.5) during the three months ended March 31, 2021 and 2020, respectively and $(8.7) and $(17.4) for the nine months ended March 31, 2021 and 2020, respectively. The related liability balances were $0.7 and $14.5 at March 31, 2021 and June 30, 2020, respectively. The Company currently estimates that the total remaining accrual of $0.7 will result in cash expenditures of $0.7 during the fourth quarter of fiscal 2021.