INVESTMENT IN NEW AVON (Notes)

6 Months Ended

Jun. 30, 2017

Schedule of Equity Method Investments [Line Items]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

INVESTMENT IN NEW AVON

In connection with the separation of the Company's North America business (as discussed in Note 3, Discontinued Operations), which closed on March 1, 2016, the Company retained a 19.9% ownership interest in New Avon. The Company accounts for its ownership interests in New Avon using the equity method of accounting, which results in the Company recognizing its proportionate share of New Avon's income or loss and other comprehensive income or loss. The Company's proportionate share of the losses of New Avon was $5.8 and $.6 during the three months ended June 30, 2017 and June 30, 2016, respectively, and $9.8 and $4.5 during the six months ended June 30, 2017 and four months ended June 30, 2016, respectively. The Company recorded these amounts within other expense, net. In addition, the Company's proportionate share of the post-separation other comprehensive income of New Avon was a benefit of $.1 and $.1 during the three and six months ended June 30, 2017, respectively, and was recorded within other comprehensive income (loss).

The Company also recorded an additional loss of $.5 within other expense, net and a benefit of $1.1 within other comprehensive income (loss), during the six months ended June 30, 2017, primarily associated with purchase accounting adjustments reported by New Avon. At June 30, 2017, our investment in New Avon was $23.7 and was classified within other assets in our Consolidated Balance Sheets.

Summarized financial information related to New Avon is shown below:

	Six Months Ended June 30, 2017			Four Months Ended June 30, 2016
Total revenue	$	361.8		$	318.2
Gross profit	$	225.6		$	189.9
Net loss	$	(49.4	)	$	(22.8	)