RESTRUCTURING COSTS

6 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING COSTS

RESTRUCTURING COSTS

Restructuring costs for the three and six months ended December 31, 2023 and 2022 are presented below:

	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Other Restructuring Actions	$	6.1	$	—	$	34.7	$	—
Transformation Plan	(0.4)		(2.9)		(0.6)		(4.1)
Total	$	5.7	$	(2.9)	$	34.1	$	(4.1)

Other Restructuring Actions

The Company continues to analyze our cost structure and evaluate opportunities to streamline operations through a range of smaller initiatives and other cost reduction activities to optimize operations in select businesses. The Company has incurred cumulative restructuring charges of $36.0 related to approved initiatives through December 31, 2023, which have been recorded in Corporate. The liability balances were $35.7 (including certain actions that were accrued during fiscal 2023) and $0.0 at December 31, 2023 and June 30, 2023 respectively. The Company currently estimates that the total remaining accrual of $35.7 will result in cash expenditures of approximately $5.8, $15.4 and $14.5 in fiscal 2024, 2025 and thereafter, respectively.

Transformation Plan

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 $214.9 related to approved initiatives through December 31, 2023, which have been recorded in Corporate. The related liability balances were $6.5 and $10.0 at December 31, 2023 and June 30, 2023, respectively. The Company currently estimates that the total remaining accrual of $6.5 will result in cash expenditures of approximately $3.8 and $2.7 in fiscal 2024 and 2025, respectively.