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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Jun. 30, 2022
Retirement Benefits [Abstract]  
Changes in projected benefit obligations, fair value of plan assets, and funded status of plan The aggregate reconciliation of the projected benefit obligations, plan assets, funded status and amounts recognized in the Company’s Consolidated Financial Statements related to the Company’s pension plans and other post-employment benefit plans is presented below:
Pension PlansOther Post-Employment BenefitsTotal
U.S.International
20222021202220212022202120222021
Change in benefit obligation
Benefit obligation—July 1$18.9 $18.5 $515.9 $753.2 $50.2 $53.7 $585.0 $825.4 
Service cost— — 9.1 18.4 0.8 1.0 9.9 19.4 
Interest cost0.5 0.5 5.9 8.4 0.8 1.3 7.2 10.2 
Plan participants’ contributions— — 1.5 4.3 0.2 0.2 1.7 4.5 
Benefits paid(2.1)(0.6)(15.1)(16.2)(2.2)(2.3)(19.4)(19.1)
New employees transfers in— — 4.2 29.7 — — 4.2 29.7 
Premiums paid— — (0.5)(1.3)— — (0.5)(1.3)
Pension curtailment— — (1.6)(6.6)— — (1.6)(6.6)
Acquisitions/Divestitures— — — (303.4)— (0.6)— (304.0)
Pension settlement— — (39.3)(47.0)— — (39.3)(47.0)
Actuarial loss (gain)(2.8)0.5 (86.8)35.4 (10.9)(2.8)(100.5)33.1 
Plan combinations— — — — — — — — 
Effect of exchange rates— — (49.6)41.0 (0.1)(0.3)(49.7)40.7 
Benefit obligation—June 30$14.5 $18.9 $343.7 $515.9 $38.8 $50.2 $397.0 $585.0 
Change in plan assets
Fair value of plan assets—July 1$— $— $159.1 $274.1 $— $0.5 $159.1 $274.6 
Actual return on plan assets— — (11.6)24.6 — — (11.6)24.6 
Employer contributions2.1 0.6 15.7 25.9 2.0 2.0 19.8 28.5 
Plan participants’ contributions— — 1.5 4.3 0.2 0.2 1.7 4.5 
Benefits paid(2.1)(0.6)(15.1)(16.2)(2.2)(2.3)(19.4)(19.1)
New employees transfers in— — 4.2 29.7 — — 4.2 29.7 
Premiums paid— — (0.5)(1.3)— — (0.5)(1.3)
Plan settlements— — (39.1)(46.5)— — (39.1)(46.5)
Acquisitions/Divestitures— — — (148.6)— (0.4)— (149.0)
Effect of exchange rates— — (12.7)13.1 — — (12.7)13.1 
Fair value of plan assets—June 30— — 101.5 159.1 — — 101.5 159.1 
Funded status—June 30$(14.5)$(18.9)$(242.2)$(356.8)$(38.8)$(50.2)$(295.5)$(425.9)
Schedule of amounts recognized in balance sheet With respect to the Company’s pension plans and other post-employment benefit plans, amounts recognized in the Company’s Consolidated Balance Sheets as of June 30, 2022 and 2021, are presented below (this table excludes discontinued operations):
Pension PlansOther Post-Employment BenefitsTotal
U.S.International
20222021202220212022202120222021
Noncurrent assets$— $— $1.4 $— $— $— $1.4 $— 
Current liabilities(1.3)(2.0)(0.8)(0.7)(2.6)(2.6)(4.7)(5.3)
Noncurrent liabilities(13.2)(16.9)(242.8)(356.1)(36.2)(47.6)(292.2)(420.6)
Funded status(14.5)(18.9)(242.2)(356.8)(38.8)(50.2)(295.5)(425.9)
AOC(L)/I3.5 0.3 39.8 (31.2)17.6 7.7 60.9 (23.2)
Net amount recognized$(11.0)$(18.6)$(202.4)$(388.0)$(21.2)$(42.5)$(234.6)$(449.1)
Schedule of accumulated benefit obligations in excess of fair value of plan assets Pension plans with accumulated benefit obligations in excess of plan assets and projected benefit obligations in excess of plan assets are presented below:
Pension plans with accumulated benefit obligations in excess of plan assetsPension plans with projected benefit obligations in excess of plan assets
U.S.InternationalU.S.International
20222021202220212022202120222021
Projected benefit obligation$14.5 $18.9 $328.8 $493.4 $14.5 $18.9 $328.8 $501.1 
Accumulated benefit obligation14.5 18.9 319.0 479.3 14.5 18.9 319.0 498.4 
Fair value of plan assets— — 85.3 138.0 — — 85.3 144.7 
Components of net periodic benefit cost for pension plans and other post-employment plans The components of net periodic benefit cost for pension plans and other post-employment benefit plans recognized in the Consolidated Statements of Operations are presented below:
Year Ended June 30,
Pension PlansOther Post-
Employment Benefits
U.S.InternationalTotal
202220212020202220212020202220212020202220212020
Service cost$— $— $— $9.1 $18.4 $33.1 $0.8 $1.0 $1.1 $9.9 $19.4 $34.2 
Interest cost0.5 0.5 0.6 5.9 8.4 9.1 0.8 1.3 1.7 7.2 10.2 11.4 
Expected return on plan assets— — — (4.5)(6.3)(8.4)— — — (4.5)(6.3)(8.4)
Amortization of prior service (credit) cost — — — (0.1)(0.3)(0.8)(0.3)(3.3)(5.9)(0.4)(3.6)(6.7)
Amortization of net (gain) loss0.4 1.5 0.7 (0.2)(0.2)(0.1)(0.2)(0.1)(0.1)— 1.2 0.5 
Settlements (gain) loss recognized— — — 1.8 3.8 (0.2)— — — 1.8 3.8 (0.2)
Curtailment (gain) loss recognized— — — (1.3)(6.9)(14.1)— — (0.8)(1.3)(6.9)(14.9)
Net periodic benefit cost$0.9 $2.0 $1.3 $10.7 $16.9 $18.6 $1.1 $(1.1)$(4.0)$12.7 $17.8 $15.9 
Schedule of amounts recognized in other comprehensive income (loss)
Pre-tax amounts recognized in AOC(L)/I, which have not yet been recognized as a component of net periodic benefit cost are presented below:
Pension PlansOther Post-Employment Benefits
U.S.InternationalTotal
20222021202220212022202120222021
Net actuarial (loss) gain $3.5 $0.3 $39.0 $(32.1)$17.1 $6.9 $59.6 $(24.9)
Prior service credit (cost)— — 0.8 0.9 0.5 0.8 1.3 1.7 
Total recognized in AOC(L)/I$3.5 $0.3 $39.8 $(31.2)$17.6 $7.7 $60.9 $(23.2)
Changes in plan assets and benefit obligations recognized in OCI/(L) during the fiscal year are presented below:
Pension PlansOther Post-Employment Benefits
U.S.InternationalTotal
20222021202220212022202120222021
Net actuarial (loss) gain$2.8 $(0.5)$71.1 $(17.1)$10.9 $2.8 $84.8 $(14.8)
Amortization or curtailment recognition of prior service (credit) cost— — (0.1)(0.7)(0.3)(3.3)(0.4)(4.0)
Recognized net actuarial (gain) loss0.4 1.5 1.7 3.6 (0.2)(0.1)1.9 5.0 
Prior service credit (cost)— — — — — — — — 
Effect of exchange rates— — (1.7)0.1 (0.5)0.3 (2.2)0.4 
Total recognized in OCI/(L)$3.2 $1.0 $71.0 $(14.1)$9.9 $(0.3)$84.1 $(13.4)
Schedule of assumptions used The weighted-average assumptions used to determine the Company’s projected benefit obligation above are presented below:
Pension PlansOther Post-Employment Benefits
U.S.International
202220212022202120222021
Discount rates
4.0%-4.7%
2.4%-2.6%
2.3%-3.4%
0.3%-1.6%
2.9%-4.7%
1.5%-2.8%
Future compensation growth ratesN/AN/A
1.1%-3.2%
1.0%-2.5%
N/AN/A
The weighted-average assumptions used to determine the Company’s net periodic benefit cost in fiscal 2022, 2021 and 2020 are presented below:
Pension PlansOther Post-
Employment Benefits
U.S.International
202220212020202220212020202220212020
Discount rates
2.4%-2.6%
2.5%-2.8%
3.2%-3.6%
0.3%-1.6%
0.4%-6.7%
0.4%-8.4%
1.5%-2.8%
1.7%-2.8%
1.7%-3.5%
Future compensation growth rates N/AN/AN/A
1.0%-2.5%
1.5%-6.7%
1.0%-5.8%
 N/AN/AN/A
Expected long-term rates of return on plan assets N/AN/AN/A
1.3%-3.8%
1.0%-5.8%
1.4%-8.9%
 N/AN/AN/A
Schedule of health care cost trend rates The health care cost trend rate assumptions have a significant effect on the amounts reported.
Year Ended June 30,
202220212020
Health care cost trend rate assumed for next year
6.7%
7.5%-7.6%
6.8%-7.6%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.5%4.5%5.0%
Year that the rate reaches the ultimate trend rate202920272026
Schedule of allocation of plan assets The target asset allocations for the Company’s pension plans as of June 30, 2022 and 2021, by asset category are presented below:
% of Plan Assets at Year Ended
Target20222021
Equity securities40%38%42%
Fixed income securities45%42%36%
Cash and other investments15%20%22%
The international pension plan assets that the Company measures at fair value on a recurring basis, based on the fair value hierarchy as described in Note 2—Summary of Significant Accounting Policies, as of June 30, 2022 and 2021 are presented below:
Level 1Level 2Level 3Total
20222021202220212022202120222021
Equity securities$32.5 $50.7 $— $— $— $— $32.5 $50.7 
Fixed income securities:
  Corporate securities33.8 33.0 — — — — 33.8 33.0 
Other:
  Cash and cash equivalents1.6 0.2 — — — — 1.6 0.2 
  Insurance contracts and other— — — — 33.6 75.2 33.6 75.2 
Total pension plan assets$67.9 $83.9 $— $— $33.6 $75.2 $101.5 $159.1 
Schedule of effect of significant unobservable inputs, changes in plan assets The reconciliations of Level 3 plan assets measured at fair value in fiscal 2022 and 2021 are presented below:
June 30,
2022		June 30,
2021
Insurance contracts:
Fair value—July 1$75.2 $148.0 
Return on plan assets(7.5)3.6 
Purchases, sales and settlements, net(31.6)(82.4)
Effect of exchange rates(2.5)6.0 
Fair value—June 30$33.6 $75.2 
Schedule of expected benefit payments
Pension PlansOther Post-Employment BenefitsTotal
Fiscal Year Ending June 30,U.S.International
2023$1.3 $20.2 $2.5 $24.0 
20241.3 17.0 2.7 21.0 
20251.2 17.1 2.9 21.2 
20261.2 17.8 2.9 21.9 
20271.2 18.1 3.0 22.3 
2028 - 20325.4 95.1 15.7 116.2