BUSINESS COMBINATIONS, ASSET ACQUISITIONS AND DIVESTITURES (Tables)

9 Months Ended

Mar. 31, 2021

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.