ACQUISITION- AND DIVESTITURE-RELATED COSTS

6 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

ACQUISITION- AND DIVESTITURE-RELATED COSTS

ACQUISITION- AND DIVESTITURE-RELATED COSTS

Acquisition-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 no acquisition-related costs for the three and six months ended December 31, 2022 and 2021.

Divestiture-related costs, which are expensed as incurred, represent non-restructuring costs directly related to divesting and selling an entity, including partial sales, 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, the Company includes write-offs of assets that are no longer recoverable and contract related costs due to the divestiture. The Company recognized divestiture-related costs of $0.0 and $6.9 for the three months ended December 31, 2022 and 2021, respectively, and $0.0 and $10.9 for the six months ended December 31, 2022 and 2021, respectively. Divestiture-related costs incurred during the three and six months ended December 31, 2021 were primarily related to the strategic transaction with KKR Bidco, for the sale of a majority stake in the Wella Business.