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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Jun. 30, 2023
Accounting Policies [Abstract] |
Schedule of property and equipment, net | Depreciation and amortization are computed principally using the straight-line method over the following estimated useful lives:
Description | Estimated Useful Lives
Buildings | 20-40 years
Marketing furniture and fixtures | 3-5 years
Machinery and equipment | 2-15 years
Computer equipment and software | 2-5 years
Property and equipment under finance leases and leasehold improvements | Lesser of lease term or economic life
Property and equipment, net as of June 30, 2023 and 2022 are presented below:
| June 30, 2023 |  | June 30, 2022
Land, buildings and leasehold improvements | $ | 432.1 |  |  | $ | 424.2 |
Machinery and equipment | 676.4 |  |  | 670.7 |
Marketing furniture and fixtures | 531.8 |  |  | 501.8 |
Computer equipment and software | 751.5 |  |  | 737.9 |
Construction in progress | 81.6 |  |  | 65.2 |
Property and equipment, gross | 2,473.4 |  |  | 2,399.8 |
Accumulated depreciation and amortization | (1,760.5) |  |  | (1,684.3) |
Property and equipment, net | $ | 712.9 |  |  | $ | 715.5 |
Schedule of finite-lived intangible assets | Intangible assets with finite lives are amortized principally using the straight-line method over the following estimated useful lives:
Description | Estimated Useful Lives
License agreements | 2-34 years
Customer relationships | 2-28 years
Trademarks | 2-30 years
Product formulations and technology | 2-28 years
Other intangible assets, net as of June 30, 2023 and 2022 are presented below:
| June 30, 2023 |  | June 30, 2022
Indefinite-lived other intangible assets | $ | 950.8 |  |  | $ | 936.6 |
Finite-lived other intangible assets, net | 2,847.2 |  |  | 2,966.2 |
Total Other intangible assets, net | $ | 3,798.0 |  |  | $ | 3,902.8 |
Intangible assets subject to amortization are presented below:
| Cost |  | Accumulated Amortization |  | Accumulated Impairment |  | Net
June 30, 2022 |  |  |  |  |  |  |
License and collaboration agreements | $ | 3,861.9 |  |  | $ | (1,302.2) |  |  | $ | (19.6) |  |  | $ | 2,540.1 |
Customer relationships | 740.0 |  |  | (473.5) |  |  | (5.5) |  |  | 261.0 |
Trademarks | 320.5 |  |  | (177.1) |  |  | (0.5) |  |  | 142.9 |
Product formulations and technology | 83.9 |  |  | (61.7) |  |  | — |  |  | 22.2 |
Total | $ | 5,006.3 |  |  | $ | (2,014.5) |  |  | $ | (25.6) |  |  | $ | 2,966.2 |
June 30, 2023 |  |  |  |  |  |  |
License and collaboration agreements | $ | 3,756.2 |  |  | $ | (1,282.6) |  |  | $ | (19.6) |  |  | $ | 2,454.0 |
Customer relationships | 750.6 |  |  | (505.9) |  |  | (5.5) |  |  | 239.2 |
Trademarks | 313.0 |  |  | (180.6) |  |  | (0.5) |  |  | 131.9 |
Product formulations and technology | 85.6 |  |  | (63.5) |  |  | — |  |  | 22.1 |
Total | $ | 4,905.4 |  |  | $ | (2,032.6) |  |  | $ | (25.6) |  |  | $ | 2,847.2 |
Schedule of recently issued and not yet adopted accounting pronouncements | Recently Issued and Not Yet Adopted Accounting Pronouncements
Accounting Standard Update(s) |  | Topic |  | Effective Period |  | Summary
2023-01 |  | Leases (Topic 842) - Common Control Arrangements |  | Fiscal 2025 |  | The FASB issued ASU No. 2023-01, Leases (Topic 842) - Common Control Arrangements, which clarifies the accounting for leasehold improvements associated with common control leases. The guidance will be effective for the Company in fiscal 2025 with early adoption permitted. The Company does not expect this ASU will have a material effect on its consolidated financial position, results of operations or cash flows.

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