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OTHER NON-CURRENT LIABILITIES
 12 Months Ended
Jun. 30, 2025
Other Liabilities Disclosure [Abstract]  
OTHER NON-CURRENT LIABILITIES OTHER NON-CURRENT LIABILITIES
Other non-current liabilities consisted of the following:
June 30,
20252024
(in millions)
Operating lease liabilities$169.5 $183.8 
Post-employment retirement obligations238.0 214.8 
Non-current income taxes74.6 59.0 
Acquisition related contingencies14.0 15.0 
Other (a)89.3 78.3 
       Total$585.5 $550.9 
(a) Includes $24.6 million derivative liability as of June 30, 2025 related to the Company’s cross-currency swap derivative contracts. The derivative was in an asset position as of June 30, 2024 and was included within Other non-current assets. Please refer to Note 12, “Other Non-Current Assets” for details. Please refer to Note 19, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” for a further discussion.
The Company sponsors a Supplemental Officer Retirement Plan (the “SORP”). The SORP is a non-qualified ERISA defined benefit plan pursuant to which the Company will pay supplemental pension benefits to certain key officers upon retirement based upon the officers’ years of service and compensation. The SORP was closed to new participants beginning in fiscal year 2015. The Company also sponsors a Supplemental Executive Retirement Plan (the “SERP”). The SERP is also a non-qualified ERISA defined benefit plan pursuant to which the Company will pay supplemental pension benefits to certain key executives upon retirement based upon the executives’ years of service and compensation. The SERP was closed to new participants beginning in fiscal year 2015.
The SORP and SERP are effectively funded with assets held in a Rabbi Trust. The assets invested in the Rabbi Trust are to be used in part to fund benefit payments to participants under the terms of the plans. The Rabbi Trust is irrevocable and no portion of the trust funds may be used for any purpose other than the delivery of those assets to the participants, except that assets held in the Rabbi Trust would be subject to the claims of the Company’s general creditors in the event of bankruptcy or insolvency of the Company. The SORP and SERP are non-qualified plans for federal tax purposes and for purposes of Title I of ERISA. The Rabbi Trust assets had a value of $66.4 million at June 30, 2025 and $61.8 million at June 30, 2024 and are included in Other non-current assets in the accompanying Consolidated Balance Sheets. The SORP and the SERP had a total benefit obligation of $62.6 million at June 30, 2025 and $61.6 million at June 30, 2024 and are included in Other non-current liabilities in the accompanying Consolidated Balance Sheets.