SEGMENT REPORTING

9 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

Operating and reportable segments (referred to as “segments”) reflect the way the Company is managed and for which separate financial information is available and evaluated regularly by the Company’s CODM in deciding how to allocate resources and assess performance. The Company has designated its Chief Executive Officer ("CEO") as the CODM.

During the first quarter of fiscal 2022, the CODM finalized the Company's organizational structure and how performance will be assessed, and the Company realigned its reportable segments to a principally product category-based structure, comprised of a Prestige business segment and a Consumer Beauty business segment beginning in the first quarter of fiscal 2022. The Company recast its results for fiscal 2021 to reflect the changes in its segments.

Certain income and shared costs and the results of corporate initiatives are managed by Corporate. Corporate primarily includes stock compensation expense, restructuring and realignment costs, costs related to acquisition and divestiture activities, and impairments of long-lived assets, goodwill and intangibles that are not attributable to ongoing operating activities of the segments. Corporate costs are not used by the CODM to measure the underlying performance of the segments.

With the exception of goodwill, the Company does not identify or monitor assets by segment. The Company does not present assets by reportable segment since various assets are shared between reportable segments. The allocation of goodwill by segment is presented in Note 10—Goodwill and Other Intangible Assets, net.

	Three Months Ended March 31,				Nine Months Ended March 31,
SEGMENT DATA	2022		2021		2022		2021
Net revenues:
Prestige	$	726.4	$	601.3	$	2,605.1	$	2,149.5
Consumer Beauty	459.8		426.5		1,531.0		1,418.0
Total	$	1,186.2	$	1,027.8	$	4,136.1	$	3,567.5
Operating income (loss):
Prestige	83.8		30.9		357.5		175.7
Consumer Beauty	(20.4)		9.1		34.3		25.8
Corporate	(6.3)		(41.4)		(73.5)		(251.9)
Total	$	57.1	$	(1.4)	$	318.3	$	(50.4)
Reconciliation:
Operating income (loss)	57.1		(1.4)		318.3		(50.4)
Interest expense, net	62.9		50.3		183.6		171.6
Other income, net	(60.6)		(62.5)		(572.9)		(50.7)
Income (loss) from continuing operations before income taxes	$	54.8	$	10.8	$	707.6	$	(171.3)

Presented below are the percentage of revenues associated with the Company’s product categories:

	Three Months Ended March 31,				Nine Months Ended March 31,
PRODUCT CATEGORY	2022		2021		2022		2021
Fragrance	57.6	%	56.2	%	60.3	%	59.1	%
Color Cosmetics	29.6		31.2		27.8		27.9
Body Care & Other	12.8		12.6		11.9		13.0
Total	100.0	%	100.0	%	100.0	%	100.0	%