RESTRUCTURING COSTS

3 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring costs for the three months ended September 30, 2023 and 2022 are presented below:


	Three Months Ended September 30,
	2023		2022
2024 Restructuring Actions	$	28.6	$	—
Transformation Plan and Other	(0.2)		(1.2)

Total	$	28.4	$	(1.2)

2024 Restructuring Actions

During fiscal 2024, the Company began the implementation of continued process optimization and improved technology support for certain areas (the "2024 Restructuring Actions"). The Company expects to incur approximately $30.0 related to employee termination benefits under this plan. Of the expected costs, the Company has incurred cumulative restructuring charges of $29.9 related to approved initiatives through September 30, 2023, which have been recorded in Corporate.

The Company recognized expenses of $28.6 and $0.0 for the three months ended September 30, 2023 and 2022, respectively, which have been recorded in Corporate. The related liability balances were $29.9 (including certain actions that were accrued during fiscal 2023) and $0.0 at September 30, 2023 and June 30, 2023 respectively. The Company currently estimates that the total remaining accrual of $29.9 will result in cash expenditures of approximately $6.8, $9.3 and $13.8 in fiscal 2024, 2025 and thereafter, respectively.

Transformation Plan and Other

The Company previously announced a four-year plan to drive substantial improvement and optimization in the Company's businesses, under which the Company expected to incur restructuring and related costs (the “Transformation Plan”), which is now substantially complete. Of the expected costs, the Company has incurred cumulative restructuring charges of $215.3 related to approved initiatives through September 30, 2023, which have been recorded in Corporate.

The Company recognized income of $0.2 and $1.2 for the period ended September 30, 2023 and 2022, respectively. The related liability balances were $7.5 and $10.0 at September 30, 2023 and June 30, 2023 respectively. The Company currently estimates that the total remaining accrual of $7.5 will result in cash expenditures of approximately $6.1, $1.3 and $0.1 in fiscal 2024, 2025 and thereafter, respectively.