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Segment Information | 9 Months Ended
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Mar. 31, 2022
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company applies ASC 280, Segment Reporting, in determining reportable segments. The Company has two reportable segments: Connected Fitness Products and Subscription. Segment information is presented in the same manner that the chief operating decision maker ("CODM") reviews the operating results in assessing performance and allocating resources. The CODM reviews revenue and gross profit for both of the reportable segments. Gross profit is defined as revenue less cost of revenue incurred by the segment. No operating segments have been aggregated to form the reportable segments. The Company does not allocate assets at the reportable segment level as these are managed on an entity wide group basis and, accordingly, the Company does not report asset information by segment. The Connected Fitness Products segment derives revenue from sale of the Company's portfolio of Connected Fitness Products and related accessories, delivery and installation services, branded apparel, and extended warranty agreements. The Subscription segment derives revenue from monthly Subscription fees. There are no internal revenue transactions between the Company’s segments. Key financial performance measures of the segments including Revenue, Cost of revenue, and Gross profit are as follows:
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (in millions)
Connected Fitness Products: |  |  |  |  |  |  |
Revenue | $ | 594.4 |  |  | $ | 1,022.9 |  |  | $ | 1,891.9 |  |  | $ | 2,494.4 |
Cost of revenue | 662.3 |  |  | 732.5 |  |  | 1,848.1 |  |  | 1,659.5 |
Gross profit | $ | (67.9) |  |  | $ | 290.4 |  |  | $ | 43.8 |  |  | $ | 834.8 |
Subscription: |  |  |  |  |  |  |
Revenue | $ | 369.9 |  |  | $ | 239.4 |  |  | $ | 1,011.6 |  |  | $ | 590.6 |
Cost of revenue | 117.8 |  |  | 84.8 |  |  | 327.2 |  |  | 227.0 |
Gross profit | $ | 252.1 |  |  | $ | 154.5 |  |  | $ | 684.4 |  |  | $ | 363.6 |
Consolidated: |  |  |  |  |  |  |
Revenue | $ | 964.3 |  |  | $ | 1,262.3 |  |  | $ | 2,903.4 |  |  | $ | 3,085.0 |
Cost of revenue | 780.1 |  |  | 817.4 |  |  | 2,175.3 |  |  | 1,886.6 |
Gross profit | $ | 184.2 |  |  | $ | 444.9 |  |  | $ | 728.2 |  |  | $ | 1,198.4 |
Reconciliation of Gross Profit Operating expenditures, interest income and other expense, and taxes are not allocated to individual segments as these are managed on an entity wide group basis. The reconciliation between reportable Segment Gross Profit to consolidated (loss) income before tax is as follows:
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (in millions)
Segment Gross Profit | $ | 184.2 |  |  | $ | 444.9 |  |  | $ | 728.2 |  |  | $ | 1,198.4 |
Sales and marketing | (227.7) |  |  | (208.2) |  |  | (860.8) |  |  | (500.3) |
General and administrative | (242.3) |  |  | (180.6) |  |  | (731.3) |  |  | (430.3) |
Research and development | (77.1) |  |  | (69.8) |  |  | (274.6) |  |  | (153.9) |
Goodwill impairment | (181.9) |  |  | — |  |  | (181.9) |  |  | — |
Impairment expense and loss on disposals | (32.5) |  |  | — |  |  | (42.5) |  |  | — |
Restructuring expense | (158.5) |  |  | — |  |  | (158.5) |  |  | — |
Total other expense, net | (19.2) |  |  | (4.0) |  |  | (43.8) |  |  | (0.5) |
(Loss) income before provision for income taxes | $ | (755.0) |  |  | $ | (17.7) |  |  | $ | (1,565.0) |  |  | $ | 113.4 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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