RESTRUCTURING CHARGES

EA Integration Restructuring Program

In December 2016, in connection with integrating the Elizabeth Arden and Revlon organizations, the Company began the process of implementing certain integration activities, including consolidating offices, eliminating certain duplicative activities and streamlining back-office support (the “EA Integration Restructuring Program”). The EA Integration Restructuring Program is designed to reduce the Company’s SG&A expenses. As a result of the EA Integration Restructuring Program, the Company expects to eliminate approximately 350 positions worldwide.

In connection with implementing the EA Integration Restructuring Program, the Company expects to recognize approximately $65 million to $75 million of total pre-tax restructuring charges (the “EA Integration Restructuring Charges”), consisting of: (i) approximately $40 million to $50 million of employee-related costs, including severance, retention and other contractual termination benefits; (ii) approximately$15 million of lease termination costs; and (iii) approximately $10 million of other related charges.

A summary of the restructuring and related charges incurred through June 30, 2017 in connection with the EA Integration Restructuring Program is presented in the following table:



	Restructuring Charges and Other, Net
	Employee Severance and Other Personnel Benefits		Other		Total Restructuring Charges		Inventory Adjustments ^(a)		Other Related Charges^(b)		Total Restructuring and Related Charges
Charges incurred through December 31, 2016	$	31.5	$	0.2	$	31.7	$	0.5	$	2.3	$	34.5
Charges incurred during the six months ended June 30, 2017	4.7		0.1		4.8		0.2		0.7		5.7
Cumulative charges incurred through June 30, 2017	$	36.2	$	0.3	$	36.5	$	0.7	$	3.0	$	40.2

^(a)Inventory adjustments are recorded within cost of sales in the Company’s Consolidated Statement of Operations and Comprehensive (Loss) Income.

^(b) Other restructuring related charges are recorded within SG&A in the Company’s Consolidated Statement of Operations and Comprehensive (Loss) Income.

A summary of the restructuring charges incurred through June 30, 2017 in connection with the EA Integration Restructuring Program by reportable segment is presented in the following table:



	Charges incurred during the six months ended		Cumulative charges incurred through
	June 30, 2017		June 30, 2017
Elizabeth Arden	$	0.6	$	7.1
Consumer	0.3		4.5
Professional	0.3		5.9
Unallocated Corporate Expenses	3.6		19.0
Total	$	4.8	$	36.5

The Company expects that cash payments will total $65 million to $75 million in connection with the EA Integration Restructuring Charges, of which $18.2 million was paid in the six months ended June 30, 2017. The remaining balance is expected to be substantially paid by the end of 2020.

Restructuring Reserve

The related liability balance and activity for each of the Company's restructuring programs are presented in the following table:



							Utilized, Net
	Liability Balance at January 1, 2017		(Income) Expense, Net		Foreign Currency Translation		Cash			Non-cash			Liability Balance at June 30, 2017

EA Integration Restructuring Program:^(a)
Employee severance and other personnel benefits	$	31.5	$	4.8	$	—	$	(16.8	)	$	—		$	19.5
Other	3.0		0.9		—		(1.4		)	(0.5		)	2.0
2015 Efficiency Program:^(c)
Employee severance and other personnel benefits	4.5		—		—		(0.8		)	(0.1		)	3.6
Other	0.2		—		—		—			—			0.2
Other immaterial actions:^(b)
Employee severance and other personnel benefits	2.6		0.3		—		(0.5		)	—			2.4
Other	1.0		0.4		—		(0.1		)	—			1.3
Total restructuring reserve	$	42.8	$	6.4	$	—	$	(19.6	)	$	(0.6	)	$	29.0

^(a)Includes $0.9 million in charges related to inventory adjustments and other restructuring related charges that were reflected within cost of sales and SG&A, respectively, in the Company’s June 30, 2017 Unaudited Consolidated Statement of Operations and Comprehensive (Loss) Income.

^(b)Consists primarily of $0.7 million in charges related to the program that Elizabeth Arden commenced prior to the Elizabeth Arden Acquisition to further align their organizational structure and distribution arrangements for the purpose of improving its go-to-trade capabilities and execution and to streamline their organization (the "Elizabeth Arden 2016 Business Transformation Program").

^(c) In September 2015, the Company initiated certain restructuring actions to drive certain organizational efficiencies across the Company's Consumer and Professional segments (the "2015 Efficiency Program"). These actions are planned to occur through 2017 and are expected to reduce general and administrative expenses within the Consumer and Professional segments. Of the approximately $12.0 million total expected cash payments related to the 2015 Efficiency Program, $6.9 million was paid through June 30, 2017, with the remaining balance expected to be paid by the end of 2017. A summary of the restructuring and related charges incurred through June 30, 2017 in connection with the 2015 Efficiency Program by reportable segment is presented in the following table:



	2015 Efficiency Program cumulative charges incurred through
	June 30, 2017
Consumer	$	6.4
Professional	3.7
Unallocated Corporate Expenses	0.7
Total	$	10.8

At June 30, 2017 and 2016, all of the restructuring reserve balances were included within accrued expenses and other in the Company's Consolidated Balance Sheets.