SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2025

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, 2025 and 2024 are presented below:


	June 30, 2025		June 30, 2024
Land, buildings and leasehold improvements	$	450.9	$	428.6
Machinery and equipment	750.7		694.0
Marketing furniture and fixtures	605.0		568.4
Computer equipment and software	817.3		776.0
Construction in progress	76.0		110.0
Property and equipment, gross	2,699.9		2,577.0
Accumulated depreciation	(1,990.7)		(1,858.1)
Property and equipment, net	$	709.2	$	718.9

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, 2025 and 2024 are presented below:


	June 30, 2025		June 30, 2024
Indefinite-lived other intangible assets	$	761.0	$	944.6
Finite-lived other intangible assets, net	2,453.8		2,621.0
Total Other intangible assets, net	$	3,214.8	$	3,565.6

Intangible assets subject to amortization are presented below:


	Cost		Accumulated Amortization		Accumulated Impairment		Net
June 30, 2024
License and collaboration agreements	$	3,715.1	$	(1,422.5)	$	(19.6)	$	2,273.0
Customer relationships	741.8		(527.8)		(5.5)		208.5
Trademarks	311.7		(192.4)		(0.5)		118.8
Product formulations and technology	83.7		(63.0)		—		20.7
Total	$	4,852.3	$	(2,205.7)	$	(25.6)	$	2,621.0
June 30, 2025
License and collaboration agreements*	$	3,765.8	$	(1,614.9)	$	(19.6)	$	2,131.3
Customer relationships	766.0		(568.9)		(5.5)		191.6
Trademarks	318.2		(208.4)		(0.5)		109.3
Product formulations and technology	87.8		(66.2)		—		21.6
Total	$	4,937.8	$	(2,458.4)	$	(25.6)	$	2,453.8

* On March 21, 2025, the KKW Collaboration Agreement was terminated pursuant to the KKW Sale Agreement. As such, the Company derecognized the remaining KKW Collaboration Agreement carrying amount of $142.5 as of the termination date.

Schedule of recently issued and not yet adopted accounting pronouncements

Recently Issued and Not Yet Adopted Accounting Pronouncements

Accounting Standards Update(s)

Topic

Effective Period

Summary

2023-09

Income Taxes (Topic 740) - Improvements to Income Tax Disclosures

Fiscal 2026

The FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands income tax disclosure requirements to include additional information related to the rate reconciliation of our effective tax rates to statutory rates, as well as additional disaggregation of taxes paid. The amendments in the ASU also remove disclosures related to certain unrecognized tax benefits and deferred taxes. ASU 2023-09 is effective for the Company in fiscal 2026. The amendments may be applied prospectively or retrospectively, and early adoption is permitted. The Company will adopt the standard and make the additional required disclosures beginning in the first quarter of fiscal 2026.

2024-03

Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses

Fiscal 2028

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. Additionally, in January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. The standard requires, in the notes to the financial statements, disclosure of specified information about certain costs and expenses, including purchases of inventory, employee compensation, depreciation, and intangible asset amortization from each relevant expense caption. The amendments in ASU 2024-03 are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption and retrospective application are permitted, but not required. The Company plans to adopt the standard and make the additional required annual disclosures beginning in the fourth quarter of fiscal 2028 and the required interim disclosures beginning in the first quarter of fiscal 2029.