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BUSINESS COMBINATIONS, ASSET ACQUISITIONS AND DIVESTITURES (Tables) | 9 Months Ended
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Mar. 31, 2021
Business Combinations [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 |  |  |  |  |  |  |
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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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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