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LEASES | 12 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
LEASES | LEASES The Company leases office facilities under non-cancelable operating leases with terms generally ranging between 5 and 25 years. The Company utilizes these leased office facilities for use by its employees in countries in which the Company conducts its business. Leases are negotiated with third parties and, in some instances contain renewal, expansion and termination options. The Company also subleases certain office facilities to third parties when the Company no longer intends to utilize the space. None of the Company’s leases restricts the payment of dividends or the incurrence of debt or additional lease obligations, or contain significant purchase options. Due to the divestiture of the Wella Business, lease assets, liabilities and expenses specific to this business for the fiscal year ended June 30, 2021 are excluded from the subsequent tables. The following table provides additional information about the Company’s operating leases for the fiscal years ended June 30, 2023, 2022 and 2021.
Lease Cost: | Year Ended June 30, 2023 |  | Year Ended June 30, 2022 |  | Year Ended June 30, 2021
Operating lease cost | $ | 76.2 |  |  | $ | 90.4 |  |  | $ | 87.1 |
Short-term lease cost | 0.9 |  |  | 1.2 |  |  | 0.8 |
Variable lease cost | 40.3 |  |  | 39.3 |  |  | 49.5 |
Sublease income | (15.8) |  |  | (20.0) |  |  | (14.9) |
Net lease cost | $ | 101.6 |  |  | $ | 110.9 |  |  | $ | 122.5 |
Other information: |  |  |  |  |
Operating cash outflows from operating leases | (73.8) |  |  | (83.8) |  |  | $ | (132.4) |
Right-of-use assets obtained in exchange for lease obligations | 25.7 |  |  | 104.9 |  |  | $ | 27.8 |
Weighted-average remaining lease term - real estate | 7.2 years |  | 7.6 years |  | 6.4 years
Weighted-average discount rate - real estate leases | 4.13 | % |  | 3.85 | % |  | 3.57 | %
Future minimum lease payments for the Company’s operating leases as of June 30, 2023 are as follows:
Fiscal Year Ending June 30, |
2024 | $ | 78.6 |
2025 | 60.0 |
2026 | 48.8 |
2027 | 41.0 |
2028 | 32.7 |
Thereafter | 107.1 |
Total future lease payments | 368.2 |
Less: imputed interest | (55.1) |
Total present value of lease liabilities | $ | 313.1 |
Current operating lease liabilities | 65.6 |
Long-term operating lease liabilities | 247.5 |
Total operating lease liabilities | $ | 313.1 |
Table excludes obligations for leases with original terms of twelve months or less which have not been recognized as ROU assets or liabilities in the Consolidated Balance Sheets.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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