SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2024

Depreciation and amortization are computed principally using the straight-line method over the following estimated useful lives:


Description			Estimated Useful Lives
Buildings			20-40 years
Marketing furniture and fixtures			3-5 years
Machinery and equipment			2-15 years
Computer equipment and software			2-5 years
Property and equipment under finance leases and leasehold improvements			Lesser of lease term or economic life

Property and equipment, net as of June 30, 2024 and 2023 are presented below:


	June 30, 2024		June 30, 2023
Land, buildings and leasehold improvements	$	428.6	$	432.1
Machinery and equipment	694.0		676.4
Marketing furniture and fixtures	568.4		531.8
Computer equipment and software	776.0		751.5
Construction in progress	110.0		81.6
Property and equipment, gross	2,577.0		2,473.4
Accumulated depreciation and amortization	(1,858.1)		(1,760.5)
Property and equipment, net	$	718.9	$	712.9

Schedule of finite-lived intangible assets

Intangible assets with finite lives are amortized principally using the straight-line method over the following estimated useful lives:


Description			Estimated Useful Lives
License agreements			2-34 years
Customer relationships			2-28 years
Trademarks			2-30 years
Product formulations and technology			2-28 years

Other intangible assets, net as of June 30, 2024 and 2023 are presented below:


	June 30, 2024		June 30, 2023
Indefinite-lived other intangible assets	$	944.6	$	950.8
Finite-lived other intangible assets, net	2,621.0		2,847.2
Total Other intangible assets, net	$	3,565.6	$	3,798.0

Intangible assets subject to amortization are presented below:


	Cost		Accumulated Amortization		Accumulated Impairment		Net
June 30, 2023
License and collaboration agreements	$	3,756.2	$	(1,282.6)	$	(19.6)	$	2,454.0
Customer relationships	750.6		(505.9)		(5.5)		239.2
Trademarks	313.0		(180.6)		(0.5)		131.9
Product formulations and technology	85.6		(63.5)		—		22.1
Total	$	4,905.4	$	(2,032.6)	$	(25.6)	$	2,847.2
June 30, 2024
License and collaboration agreements	$	3,715.1	$	(1,422.5)	$	(19.6)	$	2,273.0
Customer relationships	741.8		(527.8)		(5.5)		208.5
Trademarks	311.7		(192.4)		(0.5)		118.8
Product formulations and technology	83.7		(63.0)		—		20.7
Total	$	4,852.3	$	(2,205.7)	$	(25.6)	$	2,621.0

Schedule of recently issued and not yet adopted accounting pronouncements

Recently Issued and Not Yet Adopted Accounting Pronouncements

Accounting Standard Update(s)

Topic

Effective Period

Summary

2023-09

Income Taxes (Topic 740) - Improvements to Income Tax Disclosures

Fiscal 2026

The FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands income tax disclosure requirements to include additional information related to the rate reconciliation of our effective tax rates to statutory rates, as well as additional disaggregation of taxes paid. The amendments in the ASU also remove disclosures related to certain unrecognized tax benefits and deferred taxes. ASU 2023-09 is effective for the Company in fiscal 2026. The amendments may be applied prospectively or retrospectively, and early adoption is permitted. The Company will adopt the standard and make the additional required disclosures beginning in the first quarter of fiscal 2026.

2023-07

Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures

Fiscal 2025

The FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in the ASU require that a public entity discloses, on an annual and interim basis, significant segment expenses that are regularly provided to an entity's chief operating decision maker ("CODM"), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. Annual disclosures are required for the Company in fiscal 2025. Interim disclosures are required for periods within fiscal years beginning in the first quarter of fiscal 2026. Retrospective application is required for all prior periods presented, and early adoption is permitted. The Company will adopt the standard and make the additional required disclosures beginning in the fourth quarter of fiscal 2025.