Acquisitions (Tables)

6 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Purchase Price Consideration

The following table summarizes the fair value of total consideration transferred and the recognized amounts of identifiable assets acquired and liabilities assumed by acquisition during the six months ended December 31, 2019:

(In millions)	National Media Acquisitions
Consideration
Cash	$	24.2
Payment in escrow	0.9
Contingent consideration arrangement	4.1
Fair value of total consideration transferred	$	29.2
Recognized amounts of identifiable assets acquired and liabilities assumed
Total identifiable assets acquired	$	23.3
Total liabilities assumed	1.2
Total identified net assets	22.1
Goodwill	7.1
Fair value of total consideration transferred	$	29.2

Summary of Assets Acquired and Liabilities Assumed

The following table provides details of the identifiable acquired intangible assets in the acquisitions:

(In millions)	magazines.com		Stop, Breathe & Think
Intangible assets subject to amortization
Publisher relationships	$	7.8	$	—
Customer lists	—		2.9
Other	—		4.3
Total	7.8		7.2
Intangible assets not subject to amortization
Trademark	7.6		—
Internet domain name	0.5		—
Total	8.1		—
Total intangible assets	$	15.9	$	7.2

Schedule of Error Corrections and Prior Period Adjustments

In accordance with Accounting Standards Codification 250, Accounting Changes and Error Corrections, the effect of the correction on each financial statement line item for each period affected is as follows:

Condensed Consolidated Statements of Earnings	As Reported		Adjustment		As Adjusted
(In millions)
For the three months ended September 30, 2018
Consumer related revenue	$	315.3	$	12.5	$	327.8
Selling, general, and administrative expense	337.8		12.5		350.3
For the three months ended December 31, 2018
Consumer related revenue	$	352.5	$	15.7	$	368.2
Selling, general, and administrative expense	330.3		15.7		346.0