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DERIVATIVE INSTRUMENTS
 12 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS DERIVATIVE INSTRUMENTS
The following table presents the fair values of all derivative instruments included in the Consolidated Balance Sheets on a gross basis.
June 30,
20262025
AssetLiabilityAssetLiability
(in millions)
Fair Value Hedge (a)
$— $2.9 $— $— 
Net Investment Hedge (b)
0.1 — — 24.6 
Total designated derivatives$0.1 $2.9 $— $24.6 
(a) The Fair Value Hedge has an aggregate notional value of $500.0 million at June 30, 2026. The Fair Value Hedge liability is included in Other non-current liabilities on the Company’s Consolidated Balance Sheets as of June 30, 2026.
(b) The Net Investment Hedge has an aggregate notional value of €880.0 million at June 30, 2026 and June 30, 2025. The Net Investment Hedge asset is included in Other non-current assets and Other non-current liabilities on the Company’s Consolidated Balance Sheets as of June 30, 2026 and June 30, 2025, respectively.
Refer to Note 2, “Summary of Significant Accounting Policies” for further details on the Derivatives policy.
Fair Value Hedge
The Company is exposed to interest rate risk in connection with our long-term debt portfolio. In May 2026, the Company executed interest rate swap agreements which were accounted for as fair value hedges that swap fixed for variable rate interest to hedge changes in the fair value of the fixed rate 2036 Senior Notes.
Accordingly, variable rate interest expense on the fair value hedge is recorded within Interest expense, net in the Consolidated Statements of Earnings. Cash flows associated with the floating interest from the Company’s fair value hedges are reported in cash flows from operating activities in the Consolidated Statement of Cash Flows.
Net changes in the fair value of the interest rate swaps, along with the offsetting change in the fair value of the hedged notes, were recognized in Interest expense, net within the Consolidated Statements of Earnings. For the period ended June 30, 2026, the Company’s reduction of Interest expense, net associated with the fair value hedge was $0.1 million.

Net Investment Hedge
In January 2022, the Company entered into cross-currency swap derivative contracts which are designated as net investment hedges to hedge a portion of its net investment in its subsidiaries whose functional currency is the Euro.
The cross-currency swap derivative contracts are agreements to pay fixed-rate interest in Euros and receive fixed-rate interest in U.S. Dollars, thereby effectively converting a portion of the Company’s U.S. Dollar denominated fixed-rate debt into Euro denominated fixed-rate debt. The cross-currency swaps mature in May 2031 to coincide with the maturity of the Fiscal 2021 Senior Notes. The Company has elected the spot method of accounting whereby the net interest savings from the cross-currency swaps is recognized as a reduction in interest expense in the Company’s Consolidated Statements of Earnings.
For the periods ended June 30, 2026, 2025, and 2024, the Company’s pre-tax net unrealized gains and (losses) associated with the net investment hedge recognized in Other comprehensive income (loss) were $24.7 million, $(84.5) million, and $(6.8) million, respectively.

Cash Flow Hedge
In May 2021, the Company settled a forward treasury lock agreement that was designated as a cash flow hedge, for a pre-tax loss of $11.0 million, after which the final settlement loss is being amortized into Interest expense, net ratably over the 10-year term of the Fiscal 2021 Senior Notes. The expected amount of the existing loss that will be amortized into earnings before income taxes within the next twelve months is approximately $1.1 million.