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BUSINESS COMBINATIONS, ASSET ACQUISITIONS AND DIVESTITURES (Tables)

12 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of estimated allocation of purchase price to net assets

The purchase consideration paid for the equity interest, the KKW Call Option and rights under the KKW Collaboration Agreement was $200.0 and was allocated as follows using a relative fair value approach at the acquisition date:

			Estimated fair value																		Estimated useful life (in years)
KKW Collaboration Agreement			$	180.6																	20
20% equity interest in KKW Holdings			19.4
Total purchase consideration			$	200.0

Schedule of the allocation of the purchase price to net assets acquired

The following table summarizes the estimated allocation of the purchase price to the net assets as of the January 6, 2020 acquisition date:

			Estimated fair value (a)						Measurement period adjustments (b)						Estimated fair value as adjusted						Estimated useful life (in years)
Cash and cash equivalents			$	7.8					$	—					$	7.8
Receivables			1.0						—						1.0
Inventories			2.5						—						2.5
Property, plant and equipment			3.6						—						3.6
Collaboration agreement			369.0						—						369.0						20
License agreement			280.0						—						280.0						20
Customer relationships			27.0						—						27.0						1.5
Goodwill			128.6						—						128.6						Indefinite
Net other liabilities			(6.6)						—						(6.6)
Total value			$	812.9					$	—					$	812.9
Noncontrolling interest			212.9												212.9
Total purchase price			$	600.0											$	600.0

(a)As previously reported in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2020.

(b)The Company recorded no measurement period adjustments in fiscal 2021, other than allocating the goodwill as noted below.

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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