PROPERTY AND EQUIPMENT, NET

12 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property and equipment, net as of June 30, 2021 and 2020 are presented below:


	June 30, 2021		June 30, 2020
Land, buildings and leasehold improvements	$	508.6	$	475.0
Machinery and equipment	733.1		706.6
Marketing furniture and fixtures	516.7		548.8
Computer equipment and software	780.9		706.3
Construction in progress	63.0		108.6
Property and equipment, gross	2,602.3		2,545.3
Accumulated depreciation and amortization	(1,684.2)		(1,463.7)
Property and equipment, net	$	918.1	$	1,081.6

Depreciation expense of property and equipment totaled $334.1, $351.7 and $331.8 in fiscal 2021, 2020 and 2019, respectively. Depreciation expense is recorded in Cost of sales and Selling, general and administrative expenses in the Consolidated Statements of Operations.

During fiscal 2021, 2020 and 2019 the Company recorded asset impairment charges of $5.2, $16.8 and $27.8 respectively. The fiscal 2021 and 2020 impairment charges are recorded in Selling, general and administrative expenses in the Consolidated Statements of Operations. The fiscal 2021 impairment charge primarily relates to abandonment of machinery and equipment, while the fiscal 2020 impairment primarily relates to the abandonment of a retail store and software no longer in use. The fiscal 2019 impairment charge is included in Restructuring costs in the Consolidated Statements of Operations and primarily relates to the disposal of certain manufacturing facilities, and the write-off of machinery and equipment in excess of the Company’s needs.