RESTRUCTURING COSTS

12 Months Ended

Jun. 30, 2026

Restructuring and Related Activities [Abstract]

Restructuring costs for the fiscal years ended June 30, 2026, 2025 and 2024 are presented below:


	Year Ended June 30,
	2026		2025		2024
Fixed Cost Reduction Plan	$	(0.3)	$	75.0	$	—


Current Restructuring Actions and Other	(4.5)		1.7		36.7
Consumer Beauty Restructuring	5.6		—		—
Total	$	0.8	$	76.7	$	36.7

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, 2025	$	104.2	$	—	$	0.3	$	104.5
Restructuring charges	34.5		—		0.1		34.6
Payments	(34.0)		(0.1)		(0.5)		(34.6)
Changes in estimates	(33.8)		—		—		(33.8)
Non-cash utilization	—		—		—		—

Effect of exchange rates	(1.0)		—		0.2		(0.8)
Balance—June 30, 2026	$	69.9	$	(0.1)	$	0.1	$	69.9

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”). During 2026, management reassessed certain initiatives within the Fixed Cost Reduction Plan and determined that several programs were being redesigned. As a result, approximately $22.5 of accrued restructuring was reversed due to the abandonment of certain actions planned as part of the prior year Fixed Cost Reduction Plan. During the current year, the Company recorded an accrual for approximately $22.0 for additional cost reduction actions primarily related to the Company’s European operations. Total restructuring charges, which consisted of employee severance, have been recorded in Corporate. The related liability balances were $50.1 and $74.1 at June 30, 2026 and 2025, respectively. The Company currently estimates that the total remaining accrual will result in cash expenditures of approximately $32.2 and $17.9 in fiscal 2027 and 2028 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 businesses. The liability balances, which consisted primarily of employee severance, were $14.2 and $30.4 at June 30, 2026 and 2025, respectively. The Company currently estimates that the total remaining accrual will result in cash expenditures of approximately $13.3 and $0.9 in fiscal 2027 and 2028 and thereafter, respectively.

Consumer Beauty Restructuring

During June 2026, the Company implemented a plan to sharpen its focus, simplify Consumer Beauty’s innovation, processes and improve service quality to its brands and consumers (“Consumer Beauty Restructuring”). This newly announced plan is on-going in the US and will have a global impact in fiscal year 2027. The cumulative restructuring charges, which have been recorded in Corporate, and the related liability balance, were $5.6 at June 30, 2026. The Company currently estimates that the total accrual will result in cash expenditures of approximately $5.1 and $0.5 in fiscal 2027 and 2028 and thereafter, respectively.