RESTRUCTURING COSTS

12 Months Ended

Jun. 30, 2025

Restructuring and Related Activities [Abstract]

RESTRUCTURING COSTS

RESTRUCTURING COSTS

Restructuring costs for the fiscal years ended June 30, 2025, 2024 and 2023 are presented below:

	Year Ended June 30,
	2025		2024		2023
Fixed Cost Reduction Plan	$	75.0	$	—	$	—
Current Restructuring Actions and Other	1.7		36.7		(6.5)
Total	$	76.7	$	36.7	$	(6.5)

The related liability balance and activity of restructuring costs are presented below:

	Severance and Employee Benefits		Fixed Asset Write-offs		Other Exit Costs		Total Program Costs
Balance—July 1, 2024	$	42.6	$	—	$	—	$	42.6
Restructuring charges	78.4		0.4		0.6		79.4
Payments	(15.5)		—		(0.3)		(15.8)
Changes in estimates	(2.7)		—		—		(2.7)
Non-cash utilization	—		(0.4)		—		(0.4)
Effect of exchange rates	1.4		—		—		1.4
Balance—June 30, 2025	$	104.2	$	—	$	0.3	$	104.5

Fixed Cost Reduction Plan

On April 24, 2025, the Company announced a new plan to strengthen its operating model and simplify its fixed cost structure (the “Fixed Cost Reduction Plan”). Total restructuring charges, which consisted of employee severance, have been recorded in Corporate. The related liability balance at June 30, 2025 was $74.1. The Company currently estimates that the total accrual will result in cash expenditures of approximately $30.7 and $43.4 in fiscal 2026 and 2027 and thereafter, respectively.

Current Restructuring Actions and Other

The Company continues to analyze its cost structure and evaluate opportunities to streamline operations through a range of smaller initiatives and other cost reduction activities to optimize operations in select parts of the business and markets. The liability balances were $30.4 and $37.9 (including certain actions that were accrued during fiscal 2023) at June 30, 2025 and June 30, 2024, respectively. The Company currently estimates that the total remaining accrual of $30.4 will result in cash expenditures of approximately $16.7 and $13.7 in fiscal 2026 and 2027 and thereafter, respectively.