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Inventories

9 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories were as follows:

			March 31, 2022						June 30, 2021
			(in millions)
Raw materials			$	97.7					$	109.8
Work-in-process			4.2						7.9
Finished products(1)			1,408.0						879.5
Total inventories			1,509.9						997.2
Less: Reserves			(99.9)						(60.1)
Total inventories, net			$	1,410.0					$	937.1

_________________________

(1) Includes $167.9 million and $249.9 million of finished goods inventory in transit, products owned by the Company that have not yet been received at a Company distribution center, as of March 31, 2022 and June 30, 2021, respectively.

The Company’s inventory reserves as of March 31, 2022 relate primarily to returned connected fitness products and obsolete accessory inventory that the Company does not expect to sell.

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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