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DERIVATIVE INSTRUMENTS (Tables)
 3 Months Ended
Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair value of derivative instruments
Derivatives are recognized on the balance sheet at their fair values. The following table presents the fair value of derivative instruments outstanding at September 30, 2016 and June 30, 2016:
 
Asset
 
Liability
 
Balance Sheet Classification
 
Fair Value
 
Balance Sheet Classification
 
Fair Value
 
 
 
September 30, 2016
 
June 30, 2016
 
 
 
September 30, 2016
 
June 30, 2016
Derivatives designated as hedges:
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expenses and
other current assets
 
$
1.4

 
$
2.8

 
Accrued expenses and
other current liabilities
 
$
2.4

 
$
3.1

Interest rate swap contracts
Prepaid expenses and other current assets
 
—

 
—

 
Accrued expenses and other current liabilities
 
10.5

 
13.6

Interest rate swap contracts
Other noncurrent assets
 
0.1

 
—

 
Other noncurrent liabilities
 
10.8

 
16.4

Total derivatives designated as hedges
 
 
$
1.5

 
$
2.8

 
 
 
$
23.7

 
$
33.1

Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expenses and
other current assets
 
$
0.4

 
$
6.4

 
Accrued expenses and
other current liabilities
 
$
1.9

 
$
4.2

Total derivatives not designated as hedges
 
 
$
0.4

 
$
6.4

 
 
 
$
1.9

 
$
4.2

Total derivatives
 
 
$
1.9

 
$
9.2

 
 
 
$
25.6

 
$
37.3
Gross amount of hedges recorded as assets
The table below presents the gross amount of foreign exchange contract hedges and interest rate swap contract hedges recorded as assets and liabilities in Prepaid expenses and other current assets and Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheet, respectively, as of September 30, 2016:
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
 
 
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheets
 
Net Amount Presented in the Condensed Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Net Amount
Foreign exchange forward contracts:
 
 
 
 
 
 
 
 
 
 
 
Prepaid expenses
and other current assets
$
1.9

 
(0.1
)
 
1.8

 
—

 
—

 
$
1.8

Accrued expenses and
other current liabilities

$
(4.5
)
 
0.2

 
(4.3
)
 
—

 
—

 
$
(4.3
)
Interest rate swap contracts:
 
 
 
 
 
 
 
 
 
 
 
Other noncurrent assets
$
0.1

 
—

 
0.1

 
—

 
—

 
$
0.1

Accrued expenses and
other current liabilities

$
(10.5
)
 
—

 
(10.5
)
 
—

 
—

 
$
(10.5
)
Other noncurrent liabilities
$
(10.8
)
 
—

 
(10.8
)
 
—

 
—

 
$
(10.8
)
The table below presents the gross amount of foreign exchange contract hedges and interest rate swap contracts recorded as assets and liabilities in Prepaid expenses and other current assets and Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheet, respectively, as of June 30, 2016:
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
 
 
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheets
 
Net Amount Presented in the Condensed Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Net Amount
Foreign exchange forward contracts:
 
 
 
 
 
 
 
 
 
 
 
Prepaid expenses
and other current assets

$
10.1

 
(0.9
)
 
9.2

 
—

 
—

 
$
9.2

Accrued expenses and
other current liabilities

$
(8.9
)
 
1.6

 
(7.3
)
 
—

 
—

 
$
(7.3
)
Interest rate swap contracts:
 
 
 
 
 
 
 
 
 
 
 
Accrued expenses and other current liabilities
$
(13.6
)
 
—

 
(13.6
)
 
—

 
—

 
$
(13.6
)
Other noncurrent liabilities
$
(16.4
)
 
—

 
(16.4
)
 
—

 
—

 
$
(16.4
)
Gross amount of hedges recorded as liabilities
The table below presents the gross amount of foreign exchange contract hedges and interest rate swap contract hedges recorded as assets and liabilities in Prepaid expenses and other current assets and Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheet, respectively, as of September 30, 2016:
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
 
 
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheets
 
Net Amount Presented in the Condensed Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Net Amount
Foreign exchange forward contracts:
 
 
 
 
 
 
 
 
 
 
 
Prepaid expenses
and other current assets
$
1.9

 
(0.1
)
 
1.8

 
—

 
—

 
$
1.8

Accrued expenses and
other current liabilities

$
(4.5
)
 
0.2

 
(4.3
)
 
—

 
—

 
$
(4.3
)
Interest rate swap contracts:
 
 
 
 
 
 
 
 
 
 
 
Other noncurrent assets
$
0.1

 
—

 
0.1

 
—

 
—

 
$
0.1

Accrued expenses and
other current liabilities

$
(10.5
)
 
—

 
(10.5
)
 
—

 
—

 
$
(10.5
)
Other noncurrent liabilities
$
(10.8
)
 
—

 
(10.8
)
 
—

 
—

 
$
(10.8
)
The table below presents the gross amount of foreign exchange contract hedges and interest rate swap contracts recorded as assets and liabilities in Prepaid expenses and other current assets and Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheet, respectively, as of June 30, 2016:
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
 
 
 
Gross Amounts Recognized
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheets
 
Net Amount Presented in the Condensed Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Net Amount
Foreign exchange forward contracts:
 
 
 
 
 
 
 
 
 
 
 
Prepaid expenses
and other current assets

$
10.1

 
(0.9
)
 
9.2

 
—

 
—

 
$
9.2

Accrued expenses and
other current liabilities

$
(8.9
)
 
1.6

 
(7.3
)
 
—

 
—

 
$
(7.3
)
Interest rate swap contracts:
 
 
 
 
 
 
 
 
 
 
 
Accrued expenses and other current liabilities
$
(13.6
)
 
—

 
(13.6
)
 
—

 
—

 
$
(13.6
)
Other noncurrent liabilities
$
(16.4
)
 
—

 
(16.4
)
 
—

 
—

 
$
(16.4
)
Amount of gains and losses recognized in OCI
The amount of gains and losses recognized in OCI in the Condensed Consolidated Balance Sheets related to the Company’s derivative and non-derivative financial instruments which are designated as hedging instruments for the three months ended September 30, 2016 and 2015 is presented below:
Gain (Loss) Recognized in OCI
Three Months Ended
September 30,
 
2016
 
2015
Foreign exchange forward contracts
$
0.5

 
$
6.7

Interest rate swap contracts
5.1

 
—

Net investment hedge
(7.8
)
 
—
Amount of gains and losses reclassified from AOCI
The amount of gains and losses reclassified from AOCI/(L) to the Condensed Consolidated Statements of Operations related to the Company’s derivative financial instruments which are designated as hedging instruments during the three months ended September 30, 2016 and 2015 is presented below:
Condensed Consolidated Statements of Operations Classification of Gain (Loss) Reclassified from AOCI/(L)
Three Months Ended
September 30,
 
2016
 
2015
Foreign exchange forward contracts:
 
 
 
Net revenue
$
0.7

 
$
1.4

Interest rate swap contracts:
 
 
 
Interest expense
$
(3.5
)
 
$
—
Amount of gains and losses related to derivative financial instruments not designated as hedging instruments
The amount of gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments during the three months ended September 30, 2016 and 2015 is presented below:
Condensed Consolidated Statements of Operations
Classification of Gain (Loss) Recognized in Operations
Three Months Ended
September 30,
 
2016
 
2015
Selling, general and administrative expenses
$
0.2

 
$
1.3

Interest expense, net
(2.1
)
 
(2.8
)