| Schedule of other nonoperating income |
The Company recognized a loss on sale of $201.9 included in Other expense (income), net in the Consolidated Statements of Operations as a result of this transaction for the year ended June 30, 2026. | | | | | | | Cash proceeds | $ | 750.0 | | | Wella Distribution Rights | 58.0 | | | Total consideration | 808.0 | | | | | Less: | | | Wella investment carrying value | 1,003.0 | | | Transaction and other costs to sell | 6.9 | | | | | Loss on sale of Wella investment | $ | (201.9) | |
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| Schedule of equity investments |
The following table presents a reconciliation of the Wella Distribution Rights measured at fair value on a recurring basis and classified within Level 3 of the fair value hierarchy:
| | | | | | | Balance at initial recognition (December 18, 2025) | $ | 58.0 | | | Total unrealized gains (losses) included in earnings | (19.0) | | Balance at June 30, 2026 | $ | 39.0 | |
The Company's equity investment, which is presented within Equity investments in the Consolidated Balance Sheets, as of June 30, 2026 is summarized as follows: | | | | | | | | | | | | | June 30,
2026 | | June 30,
2025 | | | | | | | | | | Equity investment at fair value: | | | | Wella (a) | — | | | 1,002.0 | | | | | | | Total equity investment | $ | — | | | $ | 1,002 | |
| | | | | | | | (a) As of June 30, 2025, the Company's stake in Wella was 25.8%. |
The following table presents summarized financial information of the Company’s former equity method investees for the years ended June 30, 2026 and 2025. Amounts presented represent combined totals at the investee level and not the Company’s proportionate share: | | | | | | | | | | | | | | | | Summarized Statements of Operations information: | Year Ended
June 30, 2026 | | Year Ended
June 30, 2025 | | Net revenues | $ | 1,526.9 | | | $ | 2,692.9 | | | Gross profit | 1,054.6 | | | 1,842.3 | | | Operating income | 191.8 | | | 230.9 | | | Income (loss) before income taxes | 109.3 | | | 33.4 | | | Net loss | 66.0 | | | (15.0) | |
| | | | | | | | Amounts included for the year ended June 30, 2026 related to the investment in Wella include activity through the sale of the Wella investment on December 18, 2025. |
| | | | | | | | | | | Summarized Balance Sheet information: | | | June 30,
2025 | | Current assets | | | $ | 1,133.8 | | | Noncurrent assets | | | 4,177.9 | | | Total assets | | | 5,311.7 | | | Current liabilities | | | 991.6 | | | Noncurrent liabilities | | | 2,762.9 | | | Total liabilities | | | 3,754.5 | |
| | | | | | | | Summarized balance sheet information relates to Wella as of June 30, 2025. The Company no longer held an equity interest in Wella as of June 30, 2026 following the sale of its investment on December 18, 2025. |
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