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RCPC Revlon Consumer Products

Cover Page

Cover Page6 Months Ended
Jun. 30, 2021shares
Document Information [Line Items]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateJun. 30,
2021
Document Transition Reportfalse
Entity File Number1-11178
Entity Registrant NameRevlon, Inc.
Entity Incorporation, State or Country CodeDE
Entity Address, Address Line OneOne New York Plaza
Entity Address, City or TownNew York
Entity Address, State or ProvinceNY
Entity Address, Postal Zip Code10004
City Area Code212-
Local Phone Number527-4000
Entity Tax Identification Number13-3662955
Title of 12(b) SecurityClass A Common Stock
Trading SymbolREV
Security Exchange NameNYSE
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryAccelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding53,652,757
Amendment Flagfalse
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ2
Current Fiscal Year End Date--12-31
Entity Central Index Key0000887921
Revlon Consumer Products Corporation
Document Information [Line Items]
Entity File Number33-59650
Entity Registrant NameRevlon Consumer Products Corporation
Entity Incorporation, State or Country CodeDE
Entity Address, Address Line OneOne New York Plaza
Entity Address, City or TownNew York
Entity Address, State or ProvinceNY
Entity Address, Postal Zip Code10004
City Area Code212-
Local Phone Number527-4000
Entity Tax Identification Number13-3662953
Entity Current Reporting StatusNo
Entity Filer CategoryNon-accelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding5,260
Amendment Flagfalse
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ2
Current Fiscal Year End Date--12-31
Entity Central Index Key0000890547

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Current assets:
Cash and cash equivalents $ 109.8 $ 97.1
Trade receivables, less allowances for doubtful accounts314.3 352.3
Inventories, net441.9 462.6
Prepaid expenses and other assets135.2 134.4
Total current assets1,001.2 1,046.4
Property, plant and equipment, net of accumulated depreciation321.6 352
Deferred income taxes23.8 25.7
Goodwill563.3 563.7
Intangible assets, net of accumulated amortization and impairment411.9 430.8
Other assets97 109.1
Total assets2,418.8 2,527.7
Current liabilities:
Short-term borrowings0.8 2.5
Current portion of long-term debt129.7 217.5
Accounts payable197 203.3
Accrued expenses and other current liabilities403.9 420.9
Total current liabilities731.4 844.2
Long-term debt3,299.4 3,105
Long-term pension and other post-retirement plan liabilities191.5 212.4
Other long-term liabilities216.5 228.1
Stockholders’ deficiency:
Common Stock0.5 0.5
Additional paid-in capital1,088.8 1,082.3
Treasury stock, at cost: 1,991,147 and 1,774,200 shares of Class A Common Stock as of June 30, 2021 and December 31, 2020, respectively(37.6)(35.2)
Accumulated deficit(2,795.4)(2,631.7)
Accumulated other comprehensive loss(276.3)(277.9)
Total stockholders’ deficiency(2,020)(1,862)
Total liabilities and stockholder’s (deficiency) equity2,418.8 2,527.7
Revlon Consumer Products Corporation
Current assets:
Cash and cash equivalents109.8 97.1
Trade receivables, less allowances for doubtful accounts314.3 352.3
Inventories, net441.9 462.6
Prepaid expenses and other assets131.1 130.5
Receivable from Revlon, Inc.175.1 170
Total current assets1,172.2 1,212.5
Property, plant and equipment, net of accumulated depreciation321.6 352
Deferred income taxes32.6 34.1
Goodwill563.3 563.7
Intangible assets, net of accumulated amortization and impairment411.9 430.8
Other assets97 109.1
Total assets2,598.6 2,702.2
Current liabilities:
Short-term borrowings0.8 2.5
Current portion of long-term debt129.7 217.5
Accounts payable197 203.3
Accrued expenses and other current liabilities415.7 423.2
Total current liabilities743.2 846.5
Long-term debt3,299.4 3,105
Long-term pension and other post-retirement plan liabilities191.5 212.4
Other long-term liabilities220.4 241.3
Stockholders’ deficiency:
Products Corporation Preferred stock, par value $1.00 per share; 1,000 shares authorized; 546 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively54.6 54.6
Common Stock0 0
Additional paid-in capital1,013.4 1,006.9
Accumulated deficit(2,647.6)(2,486.6)
Accumulated other comprehensive loss(276.3)(277.9)
Total stockholders’ deficiency(1,855.9)(1,703)
Total liabilities and stockholder’s (deficiency) equity $ 2,598.6 $ 2,702.2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Trade receivables, allowance for doubtful accounts $ 9.4 $ 13
Property, plant and equipment, accumulated depreciation549.1 528.9
Intangible assets, accumulated amortization and impairment $ 312.6 $ 296.8
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in shares)900,000,000 900,000,000
Common stock, issued (in shares)58,508,756 56,742,513
Treasury stock (in shares)1,991,147 1,774,200
Revlon Consumer Products Corporation
Trade receivables, allowance for doubtful accounts $ 9.4 $ 13
Property, plant and equipment, accumulated depreciation549.1 528.9
Intangible assets, accumulated amortization and impairment $ 312.6 $ 296.8
Preferred stock, par value (in dollars per share) $ 1 $ 1
Preferred stock, authorized (in shares)1,000 1,000
Preferred stock, issued (in shares)546 546
Preferred stock, outstanding (in shares)546 546
Common stock, par value (in dollars per share) $ 1 $ 1
Common stock, authorized (in shares)10,000 10,000
Common stock, issued (in shares)5,260 5,260
Common stock, outstanding (in shares)5,260 5,260

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Net sales $ 497.4 $ 347.6 $ 942.4 $ 800.6
Cost of sales196.3 168.6 387.5 366.4
Gross profit301.1 179 554.9 434.2
Selling, general and administrative expenses279.4 196.3 539.9 485.7
Acquisition, integration and divestiture costs0.6 1.2 1.2 3.3
Restructuring charges and other, net8.4 20.7 13.8 45.5
Impairment charges0 19.8 0 144.1
(Gain) loss on divested assets(1.8)(0.2)(1.8)0.6
Operating income (loss)14.5 (58.8)1.8 (245)
Other expenses:
Interest expense, net61.9 60.9 120.8 109.3
Amortization of debt issuance costs13.3 6 22 10
Gain on early extinguishment of debt0 (11.9)0 (11.9)
Foreign currency (gains) losses, net(1.7)2.3 1.6 18.9
Miscellaneous, net1.5 20.6 2.7 16.5
Other expense (income), net75 77.9 147.1 142.8
(Loss) income from operations before income taxes(60.5)(136.7)(145.3)(387.8)
Provision for (benefit from) income taxes7.2 (9.9)18.4 (47.1)
Net (loss) income(67.7)(126.8)(163.7)(340.7)
Other comprehensive income (loss):
Foreign currency translation adjustments(0.5)10.3 (5.4)5.1
Amortization of pension related costs, net of tax[1],[2]3.5 4 7 6.5
Other comprehensive loss, net3 [3]14.3 [3]1.6 11.6
Total comprehensive (loss) income $ (64.7) $ (112.5) $ (162.1) $ (329.1)
Basic (loss) earnings per common share (in dollars per share) $ (1.25) $ (2.37) $ (3.04) $ (6.39)
Diluted (loss) earnings per common share (in dollars per share) $ (1.25) $ (2.37) $ (3.04) $ (6.39)
Weighted average number of common shares outstanding:
Basic (in shares)54,015,794 53,471,004 53,835,622 53,319,228
Diluted (in shares)54,015,794 53,471,004 53,835,622 53,319,228
Revlon Consumer Products Corporation
Net sales $ 497.4 $ 347.6 $ 942.4 $ 800.6
Cost of sales196.3 168.6 387.5 366.4
Gross profit301.1 179 554.9 434.2
Selling, general and administrative expenses277.7 194.4 537.2 481.8
Acquisition, integration and divestiture costs0.6 1.2 1.2 3.3
Restructuring charges and other, net8.4 20.7 13.8 45.5
Impairment charges0 19.8 0 144.1
(Gain) loss on divested assets(1.8)(0.2)(1.8)0.6
Operating income (loss)16.2 (56.9)4.5 (241.1)
Other expenses:
Interest expense, net61.9 60.9 120.8 109.3
Amortization of debt issuance costs13.3 6 22 10
Gain on early extinguishment of debt0 (11.9)0 (11.9)
Foreign currency (gains) losses, net(1.7)2.3 1.6 18.9
Miscellaneous, net1.5 20.6 2.7 16.5
Other expense (income), net75 77.9 147.1 142.8
(Loss) income from operations before income taxes(58.8)(134.8)(142.6)(383.9)
Provision for (benefit from) income taxes7.3 (9.6)18.4 (46.5)
Net (loss) income(66.1)(125.2)(161)(337.4)
Other comprehensive income (loss):
Foreign currency translation adjustments(0.5)10.3 (5.4)5.1
Amortization of pension related costs, net of tax[4],[5]3.5 4 7 6.5
Other comprehensive loss, net3 [6]14.3 [6]1.6 11.6
Total comprehensive (loss) income $ (63.1) $ (110.9) $ (159.4) $ (325.8)
[1]Net of tax benefit of nil and $1.5 million for the three months ended
[2]This amount is included in the computation of net periodic benefit costs (income). See Note 10, "Pension and Post-Retirement Benefits," for additional information regarding net periodic benefit costs (income).
[3]See Note 13, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2021 and 2020, respectively.
[4]Net of tax benefit of nil and $1.5 million for the three months ended June 30, 2021 and 2020, respectively, and net of tax benefit of nil and $1.2 million for the six months ended June 30, 2021 and 2020, respectively.
[5]This amount is included in the computation of net periodic benefit costs (income). See Note 10, "Pension and Post-Retirement Benefits," for additional information regarding net periodic benefit costs (income).
[6]See Note 13, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2021 and 2020, respectively.

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Amortization of pension related costs, tax benefit $ 0 $ 1.5 $ 0 $ 1.2
Revlon Consumer Products Corporation
Amortization of pension related costs, tax benefit $ 0 $ 1.5 $ 0 $ 1.2

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIENCY - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Mar. 31, 2021Jun. 30, 2020Mar. 31, 2020Jun. 30, 2021Jun. 30, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance $ (1,958.7) $ (1,862) $ (1,435.8) $ (1,221.2) $ (1,862) $ (1,221.2)
Treasury stock acquired, at cost[1]0 (2.4)(1.3)(0.4)
Stock-based compensation amortization3.4 3.1 1.1 2.4
Net loss(67.7)(96)(126.8)(213.9)(163.7)(340.7)
Other comprehensive (loss) income3 [2](1.4)[2]14.3 [2](2.7)[2]1.6 11.6
Ending balance(2,020)(1,958.7)(1,548.5)(1,435.8)(2,020)(1,548.5)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance0.5 0.5 0.5 0.5 0.5 0.5
Ending balance0.5 0.5 0.5 0.5 0.5 0.5
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance1,085.4 1,082.3 1,074.3 1,071.9 1,082.3 1,071.9
Stock-based compensation amortization3.4 3.1 1.1 2.4
Ending balance1,088.8 1,085.4 1,075.4 1,074.3 1,088.8 1,075.4
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(37.6)(35.2)(33.9)(33.5)(35.2)(33.5)
Treasury stock acquired, at cost[1]0 (2.4)(1.3)(0.4)
Ending balance(37.6)(37.6)(35.2)(33.9)(37.6)(35.2)
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(2,727.7)(2,631.7)(2,226.6)(2,012.7)(2,631.7)(2,012.7)
Net loss(67.7)(96)(126.8)(213.9)
Ending balance(2,795.4)(2,727.7)(2,353.4)(2,226.6)(2,795.4)(2,353.4)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(279.3)(277.9)(250.1)(247.4)(277.9)(247.4)
Other comprehensive (loss) income[2]3 (1.4)14.3 (2.7)
Ending balance(276.3)(279.3)(235.8)(250.1)(276.3)(235.8)
Revlon Consumer Products Corporation
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(1,796.2)(1,703)(1,301.9)(1,089.4)(1,703)(1,089.4)
Stock-based compensation amortization3.4 3.1 1.1 2.4
Net loss(66.1)(94.9)(125.2)(212.2)(161)(337.4)
Other comprehensive (loss) income3 [3](1.4)[3]14.3 [3](2.7)[3]1.6 11.6
Ending balance(1,855.9)(1,796.2)(1,411.7)(1,301.9)(1,855.9)(1,411.7)
Revlon Consumer Products Corporation | Preferred Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance54.6 54.6 54.6 54.6 54.6 54.6
Ending balance54.6 54.6 54.6 54.6 54.6 54.6
Revlon Consumer Products Corporation | Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance1,010 1,006.9 998.9 996.5 1,006.9 996.5
Stock-based compensation amortization3.4 3.1 1.1 2.4
Ending balance1,013.4 1,010 1,000 998.9 1,013.4 1,000
Revlon Consumer Products Corporation | Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(2,581.5)(2,486.6)(2,105.3)(1,893.1)(2,486.6)(1,893.1)
Net loss(66.1)(94.9)(125.2)(212.2)
Ending balance(2,647.6)(2,581.5)(2,230.5)(2,105.3)(2,647.6)(2,230.5)
Revlon Consumer Products Corporation | Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(279.3)(277.9)(250.1)(247.4)(277.9)(247.4)
Other comprehensive (loss) income[3]3 (1.4)14.3 (2.7)
Ending balance $ (276.3) $ (279.3) $ (235.8) $ (250.1) $ (276.3) $ (235.8)
[1]Pursuant to the share withholding provisions of the Fourth Amended and Restated Revlon, Inc. Stock Plan (as amended, the "Stock Plan"), the Company withheld an aggregate of nil and 79,554 shares of Revlon Class A Common Stock during the three months ended June 30, 2021 and 2020, respectively, and 162,496 and 94,531 shares of Revlon Class A Common Stock during the six months ended June 30, 2021 and 2020, respectively, to satisfy certain minimum statutory tax withholding requirements related to the vesting of restricted shares and restricted stock units ("RSUs") for certain senior executives and employees. These withheld shares were recorded as treasury stock using the cost method, at a weighted-average price per share of nil and $11.76 during the three months ended June 30, 2021 and 2020, respectively, and $14.95 and $13.62 during the six months ended June 30, 2021 and 2020, respectively, based on the closing price of Revlon Class A Common Stock as reported on the New York Stock Exchange (the "NYSE") consolidated tape on each respective vesting date, for a total of approximately nil and $1.2 million during the three months ended June 30, 2021 and 2020, respectively, and $2.4 million and $1.6 million during the six months ended June 30, 2021 and 2020. See Note 11, "Stock Compensation Plan," for details regarding restricted stock awards and RSUs under the Stock Plan.
[2]See Note 13, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2021 and 2020, respectively.
[3]See Note 13, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2021 and 2020, respectively.

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIENCY (Parenthetical) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Tax withholdings related to net share settlements of restricted stock units and awards $ 0 $ 1,200,000 $ 2,400,000 $ 1,600,000
Treasury Stock
Shares withheld for withholding taxes (in shares)0 79,554 162,496 94,531
Treasury Stock | Restricted Stock and Restricted Stock Units | Class A Common Stock
Share repurchase price (in dollars per share) $ 0 $ 11.76 $ 14.95 $ 13.62

UNAUDITED CONSOLIDATED STATEM_5

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)6 Months Ended
Jun. 30, 2021Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (163,700,000) $ (340,700,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization65,600,000 73,200,000
Foreign currency losses from re-measurement1,600,000 18,900,000
Amortization of debt discount600,000 800,000
Stock-based compensation amortization6,500,000 3,500,000
Impairment charges0 144,100,000
Provision for (benefit from) deferred income taxes3,500,000 (56,600,000)
Gain on early extinguishment of debt0 (11,900,000)
Amortization of debt issuance costs22,000,000 10,000,000
(Gain) loss on divested assets(1,800,000)600,000
Pension and other post-retirement cost2,300,000 2,700,000
Paid-in-kind interest expense on the 2020 BrandCo Facilities9,300,000 1,500,000
Change in assets and liabilities:
Decrease in trade receivables36,600,000 126,300,000
Decrease (increase) in inventories14,400,000 (70,600,000)
Increase in prepaid expenses and other current assets(1,200,000)(7,400,000)
Decrease in accounts payable(100,000)(13,300,000)
Decrease in accrued expenses and other current liabilities(21,500,000)(23,500,000)
Decrease in deferred revenue(2,800,000)0
Pension and other post-retirement plan contributions(17,200,000)(5,500,000)
Purchases of permanent displays(8,900,000)(12,700,000)
Other, net15,500,000 (3,600,000)
Net cash used in operating activities(39,300,000)(164,200,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures(2,900,000)(2,700,000)
Proceeds from the sale of certain assets2,100,000 0
Net cash used in investing activities(800,000)(2,700,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in short-term borrowings and overdraft(6,700,000)(7,000,000)
Borrowings on term loans305,000,000 880,000,000
Repayments on term loans[1](176,100,000)(337,900,000)
Net (repayments) borrowings under the revolving credit facilities(36,800,000)(22,900,000)
Payment of financing costs(15,800,000)(101,200,000)
Tax withholdings related to net share settlements of restricted stock and RSUs(2,400,000)(1,600,000)
Other financing activities(200,000)(1,000,000)
Net cash provided by (used in) financing activities67,000,000 408,400,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash(1,000,000)(2,100,000)
Net increase (decrease) in cash, cash equivalents and restricted cash25,900,000 239,400,000
Cash, cash equivalents and restricted cash at beginning of period[2]102,500,000 104,500,000
Cash, cash equivalents and restricted cash at end of period[2]128,400,000 343,900,000
Cash paid during the period for:
Interest117,600,000 105,900,000
Income taxes, net of refunds6,600,000 8,000,000
Supplemental schedule of non-cash investing and financing activities:
Non-cash roll-up of participating lenders from the 2016 Term Loan Facility to the 2020 BrandCo Facilities0 809,800,000
Paid-in-kind debt issuance costs capitalized to the 2020 BrandCo Facilities0 29,100,000
Paid-in-kind interest capitalized to the 2020 BrandCo Facilities9,300,000 0
Revlon Consumer Products Corporation
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss(161,000,000)(337,400,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization65,600,000 73,200,000
Foreign currency losses from re-measurement1,600,000 18,900,000
Amortization of debt discount600,000 800,000
Stock-based compensation amortization6,500,000 3,500,000
Impairment charges0 144,100,000
Provision for (benefit from) deferred income taxes4,000,000 (55,700,000)
Gain on early extinguishment of debt0 (11,900,000)
Amortization of debt issuance costs22,000,000 10,000,000
(Gain) loss on divested assets(1,800,000)600,000
Pension and other post-retirement cost2,300,000 2,700,000
Paid-in-kind interest expense on the 2020 BrandCo Facilities9,300,000 1,500,000
Change in assets and liabilities:
Decrease in trade receivables36,600,000 126,300,000
Decrease (increase) in inventories14,400,000 (70,600,000)
Increase in prepaid expenses and other current assets(6,300,000)(13,000,000)
Decrease in accounts payable(100,000)(13,300,000)
Decrease in accrued expenses and other current liabilities(21,500,000)(22,100,000)
Decrease in deferred revenue(2,800,000)0
Pension and other post-retirement plan contributions(17,200,000)(5,500,000)
Purchases of permanent displays(8,900,000)(12,700,000)
Other, net17,400,000 (3,600,000)
Net cash used in operating activities(39,300,000)(164,200,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures(2,900,000)(2,700,000)
Proceeds from the sale of certain assets2,100,000 0
Net cash used in investing activities(800,000)(2,700,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in short-term borrowings and overdraft(6,700,000)(7,000,000)
Borrowings on term loans305,000,000 880,000,000
Repayments on term loans[3](176,100,000)(337,900,000)
Net (repayments) borrowings under the revolving credit facilities(36,800,000)(22,900,000)
Payment of financing costs(15,800,000)(101,200,000)
Tax withholdings related to net share settlements of restricted stock and RSUs(2,400,000)(1,600,000)
Other financing activities(200,000)(1,000,000)
Net cash provided by (used in) financing activities67,000,000 408,400,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash(1,000,000)(2,100,000)
Net increase (decrease) in cash, cash equivalents and restricted cash25,900,000 239,400,000
Cash, cash equivalents and restricted cash at beginning of period[4]102,500,000 104,500,000
Cash, cash equivalents and restricted cash at end of period[4]128,400,000 343,900,000
Cash paid during the period for:
Interest117,600,000 105,900,000
Income taxes, net of refunds6,600,000 8,000,000
Supplemental schedule of non-cash investing and financing activities:
Non-cash roll-up of participating lenders from the 2016 Term Loan Facility to the 2020 BrandCo Facilities0 809,800,000
Paid-in-kind debt issuance costs capitalized to the 2020 BrandCo Facilities0 29,100,000
Paid-in-kind interest capitalized to the 2020 BrandCo Facilities $ 9,300,000 $ 0
[1]Repayments on term loans for the six months ended June 30, 2020 includes the repayment of the 2019 Term Loan Facility, repayment under the 2018 Foreign Asset-Based Term Loan and repayments under the 2016 Term Loan Facility of $200.0 million, $31.4 million and $6.9 million, respectively, as well as repurchases of the 5.75% Senior Notes of $99.6 million. During 2020, the Company used a portion of the proceeds from the 2020 BrandCo Facility to repurchase and subsequently cancel a portion of its 5.75% Senior Notes. See Note 8, "Debt" in the Company's 2020 Form 10-K for additional information.
[2]These amounts include restricted cash of $18.6 million and $5.4 million as of June 30, 2021 and 2020, respectively. The balance as of June 30, 2021 represents: (i) cash on deposit in lieu of a mandatory prepayment and loan proceeds held in escrow until certain collateral perfection requirements are satisfied under the 2021 Foreign Asset-Based Term Agreement; and (ii) cash on deposit to support outstanding undrawn letters of credit. The balance as of June 30, 2020 represents: (i) cash on deposit in lieu of a mandatory prepayment under the 2018 Foreign Asset-Based Term Facility; and (ii) cash on deposit to support outstanding undrawn letters of credit. These balances were included within prepaid expenses and other current assets and other assets in the Company's Consolidated Balance Sheets as of June 30, 2021 and June 30, 2020, respectively.
[3]Repayments on term loans for the six months ended June 30, 2020 includes the repayment of the 2019 Term Loan Facility, repayment under the 2018 Foreign Asset-Based Term Loan and repayments under the 2016 Term Loan Facility of $200.0 million, $31.4 million and $6.9 million, respectively, as well as repurchases of the 5.75% Senior Notes of $99.6 million. During 2020, the Company used a portion of the proceeds from the 2020 BrandCo Facility to repurchase and subsequently cancel a portion of its 5.75% Senior Notes. See Note 8, "Debt" in the Company's 2020 Form 10-K for additional information.
[4]These amounts include restricted cash of $18.6 million and $5.4 million as of June 30, 2021 and 2020, respectively. The balance as of June 30, 2021 represents: (i) cash on deposit in lieu of a mandatory prepayment and loan proceeds held in escrow until certain collateral perfection requirements are satisfied under the 2021 Foreign Asset-Based Term Agreement; and (ii) cash on deposit to support outstanding undrawn letters of credit. The balance as of June 30, 2020 represents: (i) cash on deposit in lieu of a mandatory prepayment under the 2018 Foreign Asset-Based Term Facility; and (ii) cash on deposit to support outstanding undrawn letters of credit. These balances were included within prepaid expenses and other current assets and other assets in the Company's Consolidated Balance Sheets as of June 30, 2021 and June 30, 2020, respectively

UNAUDITED CONSOLIDATED STATEM_6

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions6 Months Ended
Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Repayments on term loans[1] $ 176.1 $ 337.9
Restricted cash $ 18.6 5.4
2019 Term Loan Facility
Repayments on term loans200
2018 Foreign Asset-Based Term Facility
Repayments on term loans31.4
2016 Term Loan Facility
Repayments on term loans6.9
5.75% Senior Notes
Repayments on term loans99.6
Stated interest rate (as a percent)5.75%
Revlon Consumer Products Corporation
Repayments on term loans[2] $ 176.1 337.9
Restricted cash $ 18.6 5.4
Revlon Consumer Products Corporation | 2019 Term Loan Facility
Repayments on term loans200
Revlon Consumer Products Corporation | 2018 Foreign Asset-Based Term Facility
Repayments on term loans31.4
Revlon Consumer Products Corporation | 2016 Term Loan Facility
Repayments on term loans6.9
Revlon Consumer Products Corporation | 5.75% Senior Notes
Repayments on term loans $ 99.6
Stated interest rate (as a percent)5.75%5.75%
[1]Repayments on term loans for the six months ended June 30, 2020 includes the repayment of the 2019 Term Loan Facility, repayment under the 2018 Foreign Asset-Based Term Loan and repayments under the 2016 Term Loan Facility of $200.0 million, $31.4 million and $6.9 million, respectively, as well as repurchases of the 5.75% Senior Notes of $99.6 million. During 2020, the Company used a portion of the proceeds from the 2020 BrandCo Facility to repurchase and subsequently cancel a portion of its 5.75% Senior Notes. See Note 8, "Debt" in the Company's 2020 Form 10-K for additional information.
[2]Repayments on term loans for the six months ended June 30, 2020 includes the repayment of the 2019 Term Loan Facility, repayment under the 2018 Foreign Asset-Based Term Loan and repayments under the 2016 Term Loan Facility of $200.0 million, $31.4 million and $6.9 million, respectively, as well as repurchases of the 5.75% Senior Notes of $99.6 million. During 2020, the Company used a portion of the proceeds from the 2020 BrandCo Facility to repurchase and subsequently cancel a portion of its 5.75% Senior Notes. See Note 8, "Debt" in the Company's 2020 Form 10-K for additional information.

DESCRIPTION OF BUSINESS AND SUM

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES6 Months Ended
Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESDESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revlon, Inc. ("Revlon" and together with its subsidiaries, the "Company") conducts its business exclusively through its direct wholly-owned operating subsidiary, Revlon Consumer Products Corporation ("Products Corporation") and its subsidiaries. Revlon is an indirect majority-owned subsidiary of MacAndrews & Forbes Incorporated (together with certain of its affiliates other than the Company, "MacAndrews & Forbes"), a corporation beneficially owned by Ronald O. Perelman. Mr. Perelman is Chairman of Revlon's and Products Corporation's Board of Directors. The Company is a leading global beauty company with an iconic portfolio of brands that develops, manufactures, markets, distributes and sells an extensive array of color cosmetics; hair color, hair care and hair treatments; fragrances; skin care; beauty tools; men’s grooming products; anti-perspirant deodorants; and other beauty care products across a variety of distribution channels. The accompanying Consolidated Financial Statements are unaudited. In management's opinion, all adjustments necessary for a fair presentation of the Company's financial information have been made. The Unaudited Consolidated Financial Statements include the Company's accounts after the elimination of all material intercompany balances and transactions. Certain prior year amounts have been reclassified to conform to the current year presentation. The preparation of the Company's Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the Consolidated Financial Statements in the period they are determined to be necessary. Significant estimates made in the accompanying Consolidated Financial Statements include, but are not limited to: expected sales returns; certain assumptions related to the valuation of acquired intangible and long-lived assets and the recoverability of goodwill, intangible and long-lived assets; income taxes, including deferred tax valuation allowances and reserves for estimated tax liabilities; and certain estimates and assumptions used in the calculation of the net periodic benefit (income) costs and the projected benefit obligations for the Company’s pension and other post-retirement plans, including the expected long-term return on pension plan assets and the discount rate used to value the Company’s pension benefit obligations. The Unaudited Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and related notes contained in Revlon's Annual Report on Form 10-K for the fiscal year ended December 31, 2020 ("2020 Form 10-K"). The Company's results of operations and financial position for the interim periods are not indicative of those to be expected for the full year. Liquidity and Ability to Continue as a Going Concern The ongoing COVID-19 pandemic has continued to adversely impact the Company’s business in 2021. The COVID-19 pandemic’s adverse impact has resulted in significant and extended quarantines, stay-at-home orders and other social distancing measures; closures and bankruptcies of retailers, beauty salons, spas, offices and manufacturing facilities; increased levels of unemployment; travel and transportation restrictions leading to declines in consumer traffic in key shopping and tourist areas around the globe; and import and export restrictions. These adverse conditions have resulted in the general slowdown of the global economy, in turn contributing to declines in net sales within some of the Company’s reporting segments and regions. However, as COVID-19 restrictions are lifted, the Company is seeing a resumption in consumer spending and consumption. The Company continues to closely monitor the associated impacts and take appropriate actions in an effort to mitigate the COVID-19 pandemic’s negative effects on the Company’s operations and financial results . Each reporting period, the Company assesses its ability to continue as a going concern for one year from the date the financial statements are issued. At June 30, 2021, the Company had a liquidity position of $153.1 million, consisting of: (i) $109.8 million of unrestricted cash and cash equivalents (with approximately $97.3 million held outside the U.S.) ; (ii) $53.5 million in available borrowing capacity under the Amendment No.8 to the Amended 2016 Revolving Credit Facility (which had $282.1 million drawn at such date); and less (iii) approximately $10.2 million of outstanding checks. The Company's evaluation includes its ability to meet its future contractual obligations and other conditions and events that may impact its liquidity. The Company continues to focus on cost reduction and risk mitigation actions to address the ongoing impact from the COVID-19 pandemic as well as other risks in the business environment. It expects to generate additional liquidity through continued cost control initiatives as well as funds provided by selling certain assets or other strategic transactions in connection with the Company's ongoing Strategic Review. If sales continue to decline, the Company’s cost control initiatives may include reductions in discretionary spend and reductions in investments in capital and permanent displays. Management believes that the debt transactions completed in the first half of 2021, along with existing cash and cash equivalents and cost control initiatives provides the Company with sufficient liquidity to meet its obligations and maintain business operations for the next twelve months. However, there can be no assurance that available funds will be sufficient to meet the Company’s cash requirements on a consolidated basis, as, among other things, the Company’s liquidity can be impacted by a number of factors, including its level of sales, costs and expenditures, as well as accounts receivable and inventory, which serve as the principal variables impacting the amount of liquidity available under the Amended 2016 Revolving Credit Facility and the 2021 Foreign Asset-Based Term Facility. For example, subject to certain exceptions, revolving loans under the Amended 2016 Revolving Credit Facility and term loans under the 2021 Foreign Asset-Based Term Facility must be prepaid to the extent that such outstanding loans exceed the applicable borrowing base, consisting of certain accounts receivable, inventory and real estate. Recently Evaluated and/or Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standard Board ("FASB") issued Accounting Standard Update ("ASU") No. 2019-12, "Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes," which removes certain exceptions for recognizing deferred taxes for investments, performing intra-period allocations, calculating income taxes in interim periods and how a company accounts for future events. This ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. The Company adopted this guidance as of January 1, 2021. The adoption of this new guidance did not have any significant impacts on the Company’s results of operations, financial condition and/or financial statement disclosures. Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The new guidance under ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is in the process of assessing the impact, if any, that ASU No. 2020-04 is expected to have on the Company’s results of operations, financial condition and/or financial statement disclosures. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which was subsequently amended in November 2018 through ASU No. 2018-19, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses." ASU No. 2016-13 will require entities to estimate lifetime expected credit losses for trade and other receivables, net investments in leases, financing receivables, debt securities and other instruments, which will result in earlier recognition of credit losses. Further, the new credit loss model will affect how entities in all industries estimate their allowance for losses for receivables that are current with respect to their payment terms. In November 2019, the FASB issued ASU No. 2019-10, which, among other things, deferred the application of the new guidance on credit losses for smaller reporting companies ("SRC") to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This guidance will be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., a modified-retrospective approach). Under the above-mentioned deferral, the Company expects to adopt ASU No. 2016-03, and the related ASU No. 2018-19 amendments, beginning as of January 1, 2023 and is in the process of assessing the impact, if any, that this new guidance is expected to have on the Company’s results of operations, financial condition and/or financial statement disclosures.

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES6 Months Ended
Jun. 30, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGESRESTRUCTURING CHARGES Revlon Global Growth Accelerator Program On May 10, 2021, the Company announced that it was expanding the existing Revlon 2020 Restructuring Program through 2023. The Company renamed the revised program the Revlon Global Growth Accelerator (“RGGA”). RGGA includes a reinvestment strategy to strengthen our brands and drive long-term profitable margin and revenue growth through realized incremental productivity initiatives and enhanced capabilities. The major initiatives underlying RGGA include: • Strategic Growth : Boost organic sales growth behind our strategic pillars – brands, markets, and channels – to deliver an approximate mid-single digit compound average annual growth rate through 2023; • Operating Efficiencies : Drive additional operational efficiencies and cost savings to fuel investments in revenue growth; and • Build Capabilities : Enhance capabilities and up-skill employees in order to evolve our culture to promote agility and deliver transformational change. Since inception and through June 30, 2021 , t he Company recorded pre-tax restructuring and related charges of $86.0 million in connection with RGGA, consisting primarily of ( i) $64.3 million of employee severance, other personnel benefits and other costs; and (ii) $21.7 million of lease and other restructuring-related charges that were recorded within Selling, general & administrative expenses ("SG&A") and Cost of sales. A summary of the RGGA charges incurred since its inception in March 2020 and through June 30, 2021 is presented in the following table: Restructuring Charges and Other, Net Employee Severance and Other Personnel Benefits Other Costs Total Restructuring Charges Leases (a) Other Related Charges (b) Total Restructuring and Related Charges Charges incurred through December 31, 2020 $ 48.6 $ 1.9 $ 50.5 $ 12.6 $ 5.7 $ 68.8 Charges incurred during the six months ended June 30, 2021 3.0 10.8 13.8 2.6 0.8 17.2 Cumulative charges incurred through June 30, 2021 $ 51.6 $ 12.7 $ 64.3 $ 15.2 $ 6.5 $ 86.0 (a) Lease-related charges are recorded within SG&A in the Company’s Consolidated Statement of Operations and Comprehensive Loss. (b) Other related charges are recorded within SG&A and cost of sales in the Company’s Consolidated Statement of Operations and Comprehensive Loss. A summary of the RGGA restructuring charges incurred since its inception in March 2020 and through June 30, 2021 by reportable segment is presented in the following table: Charges incurred in the six months ended June 30, 2021 Cumulative charges incurred through June 30, 2021 Revlon $ 3.9 $ 24.6 Elizabeth Arden 5.1 14.5 Portfolio 2.3 15.9 Fragrances 2.5 9.3 Total $ 13.8 $ 64.3 Restructuring Reserve The liability balance and related activity for each of the Company's restructuring programs are presented in the following table: Utilized, Net Liability Expense, Net Foreign Currency Translation Cash Non-cash Liability Balance at June 30, 2021 RGGA: Employee severance and other personnel benefits $ 12.6 $ 3.0 $ — $ (11.0) $ — $ 4.6 Other — 10.8 — (10.8) — — Total RGGA 12.6 13.8 — (21.8) — 4.6 Other immaterial actions: Employee severance and other personnel benefits 1.2 — — (0.3) — 0.9 Other — — — — — — Total other immaterial actions 1.2 — — (0.3) — 0.9 Total restructuring reserve $ 13.8 $ 13.8 $ — $ (22.1) $ — $ 5.5

INVENTORIES

INVENTORIES6 Months Ended
Jun. 30, 2021
Inventory Disclosure [Abstract]
INVENTORIESINVENTORIES The Company's net inventory balances consisted of the following: June 30, December 31, 2021 2020 Finished goods 315.8 $ 356.7 Raw materials and supplies 103.9 97.1 Work-in-process 22.2 8.8 $ 441.9 $ 462.6

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT6 Months Ended
Jun. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENTPROPERTY, PLANT AND EQUIPMENT The Company's property, plant and equipment, net balances consisted of the following: June 30, December 31, 2021 2020 Land and improvements $ 11.1 $ 11.4 Building and improvements 45.8 48.3 Machinery and equipment 90.7 98.7 Office furniture, fixtures and capitalized software 68.3 76.2 Leasehold improvements 19.6 21.3 Construction-in-progress 5.4 9.1 Right-of-Use assets 80.7 87.0 Property, plant and equipment and Right-of-Use assets, net $ 321.6 $ 352.0 Depreciation and amortization expense on property, plant and equipment and right-of-use assets for the three months ended June 30, 2021 and June 30, 2020 was $17.1 million and $23.9 million, respectively. Depreciation and amortization expense on property, plant and equipment and right-of-use assets for the six months ended June 30, 2021 and June 30, 2020 was $34.2 million and $40.9 million, respectively. Accumulated depreciation and amortization was $549.1 million and $528.9 million as of June 30, 2021 and December 31, 2020, respectively.

GOODWILL AND INTANGIBLE ASSETS,

GOODWILL AND INTANGIBLE ASSETS, NET6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS, NETGOODWILL AND INTANGIBLE ASSETS, NET In accordance with ASC Topic 350, “Intangibles – Goodwill and Other,” the Company performs its annual impairment test during the fourth quarter of each year. The Company also reviews goodwill for impairment whenever events or changes in circumstances indicate that the carrying value of its goodwill may not be recoverable. After the close of each interim quarter, management assesses whether there exists any indicators of impairment requiring the Company to perform an interim goodwill impairment analysis. As of June 30, 2021, the Company assessed that no indicators of impairment existed requiring the performance of a goodwill interim impairment analysis. No goodwill impairment charges were recorded during the three and six months ended June 30, 2021. The following table presents the changes in goodwill by segment for the six months ended June 30, 2021: Revlon Portfolio Elizabeth Arden Fragrances Total Balance at January 1, 2021 $ 265.4 $ 87.9 $ 89.5 $ 120.9 $ 563.7 Foreign currency translation adjustment (0.1) (0.1) (0.1) (0.1) (0.4) Balance at June 30, 2021 $ 265.3 $ 87.8 $ 89.4 $ 120.8 $ 563.3 Cumulative goodwill impairment charges (a) $ (166.2) (a) Amount refers to cumulative goodwill impairment charges related to impairments recognized in 2015, 2017, 2018 and 2020. For the three and six months ended June 30, 2020, the Company recorded goodwill impairment charges of $11.2 million and $111.0 million, respectively. Intangible Assets, Net Finite-Lived Intangibles In accordance with ASC Topic 360, the Company makes judgments about the recoverability of its purchased finite-lived intangible assets whenever events or changes in circumstances indicate that an impairment to its finite-lived intangible assets may exist. The Company also considers several indicators of impairment, including, among other factors, the following: (i) whether there exists any significant adverse change in the extent or manner in which a long-lived asset and/or asset group is being used; (ii) whether there exists any projection or forecast demonstrating losses associated with the use of a long-lived asset and/or asset group; and (iii) whether there exists a current expectation that, more likely than not, a long-lived asset and/or asset group will be sold or otherwise disposed of significantly before the end of its previously-estimated useful life. The carrying amount of a finite-lived intangible asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the finite-lived intangible asset and/or asset group and the impairment loss is measured as the amount by which the carrying amount of the finite-lived intangible asset exceeds its fair value. As of June 30, 2021, the Company assessed that no indicators of impairment existed requiring the performance of a finite-lived intangibles interim impairment analysis. As a result, no impairment charges were recognized related to the carrying value of any of the Company's finite-lived intangible assets for the three and six months ended June 30, 2021 and 2020, respectively. Indefinite-Lived Intangibles As of June 30, 2021, the Company assessed that no indicators of impairment existed requiring the performance of an indefinite-lived intangibles interim impairment analysis. No intangibles impairment charges were recorded during the three and six months ended June 30, 2021. For the three and six months ended June 30, 2020, the Company recorded indefinite-lived intangible assets impairment charges of $8.6 million and $33.1 million, respectively. The following tables present details of the Company's total intangible assets as of June 30, 2021 and December 31, 2020: June 30, 2021 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Useful Life (in Years) Finite-lived intangible assets: Trademarks and licenses $ 272.0 $ (136.2) $ — $ 135.8 12 Customer relationships 249.4 (117.2) — 132.2 10 Patents and internally-developed intellectual property 23.6 (16.5) — 7.1 5 Distribution rights 31.0 (8.3) — 22.7 13 Other 1.3 (1.3) — — 0 Total finite-lived intangible assets $ 577.3 $ (279.5) $ — $ 297.8 Indefinite-lived intangible assets: Trade names $ 147.2 N/A $ (33.1) $ 114.1 Total indefinite-lived intangible assets $ 147.2 N/A $ (33.1) $ 114.1 Total intangible assets $ 724.5 $ (279.5) $ (33.1) $ 411.9 December 31, 2020 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Useful Life (in Years) Finite-lived intangible assets: Trademarks and licenses $ 272.8 $ (128.6) $ — $ 144.2 12 Customer relationships 249.9 (110.7) — 139.2 11 Patents and internally-developed intellectual property 23.6 (15.6) — 8.0 5 Distribution rights 31.0 (7.5) — 23.5 14 Other 1.3 (1.3) — — 0 Total finite-lived intangible assets $ 578.6 $ (263.7) $ — $ 314.9 Indefinite-lived intangible assets: Trade names $ 149.0 N/A $ (33.1) $ 115.9 Total indefinite-lived intangible assets $ 149.0 N/A $ (33.1) $ 115.9 Total intangible assets $ 727.6 $ (263.7) $ (33.1) $ 430.8 Amortization expense for finite-lived intangible assets was $8.6 million and $8.2 million for the three months ended June 30, 2021 and 2020, respectively, and $17.0 million and $16.7 million for the six months ended June 30, 2021 and 2020, respectively. The following table reflects the estimated future amortization expense for each period presented, a portion of which is subject to exchange rate fluctuations, for the Company's finite-lived intangible assets as of June 30, 2021: Estimated Amortization Expense 2021 $ 16.6 2022 32.6 2023 30.9 2024 27.6 2025 26.4 Thereafter 163.7 Total $ 297.8

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES6 Months Ended
Jun. 30, 2021
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIESACCRUED EXPENSES AND OTHER CURRENT LIABILITIES The Company's accrued expenses and other current liabilities consisted of the following: June 30, December 31, 2021 2020 Sales returns and allowances $ 68.6 $ 95.5 Advertising, marketing and promotional costs 102.0 96.3 Taxes (a) 49.2 41.8 Compensation and related benefits 49.1 50.1 Interest 30.9 29.6 Professional services and insurance 18.9 18.6 Short-term lease liability 15.7 16.6 Freight and distribution costs 14.7 9.5 Restructuring reserve 5.5 13.8 Software 3.2 3.1 Other 46.1 46.0 Total $ 403.9 $ 420.9

DEBT

DEBT6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]
DEBTDEBT The table below details the Company's debt balances, net of discounts and debt issuance costs. June 30, December 31, 2021 2020 Amended 2016 Revolving Credit Facility (Tranche A) due 2024 $ 100.4 $ 136.7 SISO Term Loan Facility due 2024 125.4 — 2021 Foreign Asset-Based Term Facility due 2024 70.1 — 2020 ABL FILO Term Loans due 2023 50.0 50.0 2020 Troubled-debt-restructuring: future interest 49.8 57.8 2020 BrandCo Term Loan Facility due 2025 1,736.3 1,719.8 2016 Term Loan Facility: 2016 Term Loan due 2023 and 2025 870.6 874.8 2018 Foreign Asset-Based Term Facility due 2021 — 57.7 6.25% Senior Notes due 2024 426.2 425.4 Spanish Government Loan due 2025 0.3 0.3 Debt $ 3,429.1 $ 3,322.5 Less current portion (129.7) (217.5) Long-term debt $ 3,299.4 $ 3,105.0 Short-term borrowings (*) $ 0.8 $ 2.5 (*) The weighted average interest rate on these short-term borrowings outstanding at June 30, 2021 and December 31, 2020 was 11.4% and 11.7%, respectively. Amendment No. 8 to the Amended 2016 Revolving Credit Agreement: Tranche A - Revolving Credit Facility and Second-In, Second-Out ("SISO") Term Loan Facility On May 7, 2021, Products Corporation entered into Amendment No. 8 to the Amended 2016 Revolving Credit Agreement (“Amendment No. 8”). Amendment No. 8, among other things, made certain amendments pursuant to which: (i) the maturity date applicable to the “Tranche A” revolving loans and SISO facility (as defined further below in this section within "Amendment No. 7 to the Amended 2016 Revolving Credit Agreement: Tranche A - Revolving Credit Facility and SISO Term Loan Facility" ) is extended from June 8, 2023 to May 7, 2024, subject to a springing maturity to the earlier of: (x) 91 days prior to the maturity of the Company’s term loan facility due September 7, 2023, to the extent such term loans are then outstanding, and (y) to the extent the Company’s first-in, last-out term loans (the “2020 ABL FILO Term Loans”) are then outstanding, the earliest stated maturity of the 2020 ABL FILO Term Loans ; (ii) the commitments under the “Tranche A” revolving facility are reduced from $300 million to $270 million and under the SISO Facility are upsized from $100 million to $130 million, (iii) the financial covenant is changed from (A)(x) a minimum excess availability requirement of $20 million when the fixed charge coverage ratio is greater than 1.00x or (y) a minimum excess availability requirement of $30 million when the fixed charge coverage ratio is less than 1.00x to (B) a springing minimum fixed charge coverage ratio of 1.00x when excess availability is less than $27.5 million, (iv) certain advance rates in respect of the borrowing base under the credit agreement are increased, and (v) the perpetual cash dominion requirement is replaced with a springing cash dominion requirement triggered only when excess availability is less than $45 million. In addition, Amendment No. 8 increased the interest rate margin applicable to the “Tranche A” revolving loans to 3.75% from a range of 2.50-3.00% and decreased the LIBOR “floor” applicable thereto from 1.75% to 0.50%. On May 7, 2021, the Company also entered into a successor agent appointment and agency transfer agreement pursuant to which MidCap Funding IV Trust ("MidCap") succeeded Citibank, N.A. as the collateral agent and administrative agent for the Amended 2016 Revolving Credit Agreement. Products Corporation has paid certain customary fees to MidCap and the lenders under the Amended 2016 Revolving Credit Facility in connection with Amendment No. 8. Amendment No. 8 included an extinguishment, as defined by ASC 470, Debt, with the prior lenders under the Company's Tranche A Revolving Credit facility and the substitution of such lenders under the revolving credit facility with a new lender, MidCap, with which the Company had no prior loans outstanding . In connection with this transaction: • Fees of $0.8 million paid to the old lenders that were extinguished under the Tranche A Revolving Credit facility were expensed within SG&A on the Company's Unaudited Consolidated Statement of Operations and Comprehensive Loss for the three and six months ended June 30, 2021; • Deferred financing costs associated with the extinguished, old lenders prior to the effective date of Amendment No. 8, amounting to approximately $4.7 million, were expensed within "Amortization of debt issuance costs” on the Company's Unaudited Consolidated Statement of Operations and Comprehensive Loss for the three and six months ended June 30, 2021; and • Fees of approximately $2.1 million paid to the new lender and third parties were recorded as deferred financing costs and are amortized in accordance with the straight-line method over the revised term of Tranche A through May 7, 2024. The above-mentioned Amendment No. 8 also included an extinguishment and a modification of a term loan in connection with the existing SISO facility. More specifically, in accordance with ASC 470, Debt: • Extinguishment accounting was applied to one existing prior lender, which is no longer involved with the SISO facility after Amendment No. 8. In connection with such extinguishment, deferred financing costs of approximately $1.4 million were expensed within "Amortization of debt issuance costs” on the Company's Unaudited Consolidated Statement of Operations and Comprehensive Loss for the three and six months ended June 30, 2021; and • Modification accounting was applied to those exiting lenders for which the cash flow effect between the amount owed to them before and after the consummation of Amendment No. 8, on a present value basis, was less than 10% and, thus, the debt instruments were not considered to be substantially different. In connection with such modification, fees of approximately $0.9 million paid to the lenders were recorded as deferred financing costs and are amortized to interest expense (together with previously exiting deferred financing costs associated with these lenders of approximately $4.0 million), in accordance with the new effective interest rate computed over the revised term of the SISO facility. Additionally, approximately $0.4 million of fees paid to third parties were expensed within SG&A on the Company's Unaudited Consolidated Statement of Operations and Comprehensive Loss for the three and six months ended June 30, 2021. Amendment No. 7 to the Amended 2016 Revolving Credit Agreement: Tranche A - Revolving Credit Facility and SISO Term Loan Facility On March 8, 2021, Products Corporation entered into Amendment No. 7 to the Amended 2016 Revolving Credit Agreement (“Amendment No. 7”). Amendment No. 7, among other things, made certain amendments pursuant to which: (i) the maturity date applicable to the “Tranche A” revolving loans under the Amended 2016 Revolving Credit Agreement was extended from September 7, 2021 to June 8, 2023; (ii) the commitments under the “Tranche A” revolving facility were reduced from $400 million to $300 million; and (iii) a new $100 million senior secured second-in, second-out term loan facility maturing June 8, 2023 (the “SISO Facility”) was established and Products Corporation borrowed $100 million of term loans thereunder. Except as to pricing, maturity, enforcement priority and certain voting rights, the terms of the SISO Facility are substantially consistent with the first-in, last-out “Tranche B” term loan facility under the Amended 2016 Revolving Credit Agreement, including as to guarantees and collateral. Term loans under the SISO Facility accrue interest at the LIBOR rate, subject to a floor of 1.75%, plus a margin of 5.75%. In addition, Amendment No. 7 increased the interest rate margin applicable to the “Tranche A” revolving loans by 0.50% to a range of 2.50% to 3.0%, depending on average excess revolving availability. Products Corporation paid certain customary fees to Citibank, N.A. and the lenders under the Amended 2016 Revolving Credit Facility in connection with Amendment No. 7. Amendment No. 7 represented an exchange of an existing revolving credit agreement with a new revolving credit agreement with the same lenders as defined by ASC 470, Debt, under the revolving credit facility. All pre-existing unamortized deferred financing costs associated with the old revolving credit agreement of approximately $0.8 million were added to the newly incurred deferred financing costs of approximately $4.2 million and their total of approximately $5.1 million started to be amortized in accordance with the straight-line method over the term of Tranche A through June 8, 2023. Additionally, approximately $4.3 million of new deferred financing costs were incurred in connection with the SISO Facility with the new lenders, which are amortized in accordance with the effective interest method over the term of the facility. 2021 Foreign Asset-Based Term Facility On March 2, 2021 (the “2021 ABTL Closing Date”), Revlon Finance LLC (the “ABTL Borrower”), a wholly owned indirect subsidiary of Products Corporation, certain foreign subsidiaries of Products Corporation party thereto as guarantors, the lenders party thereto and Blue Torch Finance LLC, as administrative agent and collateral agent (the “ABTL Agent”), entered into an Asset-Based Term Loan Credit Agreement (the “2021 Foreign Asset-Based Term Agreement”, and the term loan facility thereunder, the “2021 Foreign Asset-Based Term Facility”). Principal and Maturity : The 2021 Foreign Asset-Based Term Facility provides for a U.S. dollar-denominated senior secured asset-based term loan facility in an aggregate principal amount of $75 million, the full amount of which was funded on the closing of the facility. On the 2021 ABTL Closing Date, approximately $7.5 million of the proceeds of the 2021 Foreign Asset-Based Term Facility were deposited in an escrow account by the ABTL Agent pending completion of certain post-closing perfection actions with respect to certain foreign real property of the guarantors constituting collateral securing the 2021 Foreign Asset-Based Term Facility. The 2021 Foreign Asset-Based Term Facility has an uncommitted incremental facility pursuant to which it may be increased from time to time by up to the amount of the borrowing base in effect at the time such incremental facility is incurred, subject to certain conditions and the agreement of the lenders providing such increase. The proceeds of the loans under the 2021 Foreign Asset-Based Term Facility were used: (i) to repay in full the obligations under the Asset-Based Term Loan Credit Agreement, dated as of July 9, 2018, as amended, among the ABTL Borrower, the other subsidiaries of Products Corporation party thereto, the lenders party thereto and Citibank, N.A., as administrative agent and collateral agent (the “ABTL Refinancing”); (ii) to pay fees and expenses in connection with the 2021 Foreign Asset-Based Term Facility and the ABTL Refinancing; and (iii) for working capital and other general corporate purposes. The 2021 Foreign Asset-Based Term Facility matures on March 2, 2024, subject to a springing maturity date of August 1, 2023 if, on such date, any principal amount of loans under the 2016 Term Loan Agreement due September 7, 2023 remain outstanding. The 2021 Foreign Asset-Based Term Agreement requires the maintenance of a borrowing base supporting the borrowing thereunder, to be evidenced with the delivery of biweekly borrowing base certificates customary for facilities of this type, with more frequent reporting required upon the triggering of certain events. The borrowing base calculation under the 2021 Foreign Asset-Based Term Facility is based on the sum of: (i) 80% of eligible accounts receivable; (ii) 65% of the net orderly liquidation value of eligible finished goods inventory; and (iii) 45% of the mortgage value of eligible real property, in each case with respect to certain of Products Corporation’s subsidiaries organized in Australia, Bermuda, Germany, Italy, Spain and Switzerland (the “ABTL Borrowing Base Guarantors”). The borrowing bases in each jurisdiction are subject to certain customary availability reserves set by the ABTL Agent. Guarantees and Security : The 2021 Foreign Asset-Based Term Facility is guaranteed by the Borrowing Base Guarantors, as well as by the direct parent entities of each ABTL Borrowing Base Guarantor (not including Revlon, Inc. or Products Corporation) on a limited recourse basis (the “ABTL Parent Guarantors”) and by certain subsidiaries of Products Corporation organized in Mexico (the “ABTL Other Guarantors” and, together with the ABTL Borrower and the ABTL Borrowing Base Guarantors, the “ABTL Loan Parties”). The obligations of the ABTL Loan Parties and the ABTL Parent Guarantors under the 2021 Foreign Asset-Based Term Facility are secured by first-ranking pledges of the equity of each ABTL Loan Party (other than the Other Guarantors), the inventory and accounts receivable of the ABTL Borrowing Base Guarantors, the material bank accounts of each Loan Party, the material intercompany indebtedness owing to any Loan Party (including any intercompany loans made with the proceeds of the 2021 Foreign Asset-Based Term Facility) and certain other material assets of the ABTL Borrowing Base Guarantors, subject to customary exceptions and exclusions. The 2021 Foreign Asset-Based Term Facility includes a cash dominion feature customary for transactions of this type. Interest and Fees : Interest is payable on each interest payment date as set forth in the 2021 Foreign Asset-Based Term Agreement, and in any event at least quarterly, and accrues on borrowings under the 2021 Foreign Asset-Based Term Facility at a rate per annum equal to the LIBOR rate, with a floor of 1.50%, plus an applicable margin equal to 8.50%. The ABTL Borrower is obligated to pay certain fees and expenses in connection with the 2021 Foreign Asset-Based Term Facility, including a fee payable to Blue Torch Finance LLC for its services as Agent. Loans under the 2021 Foreign Asset-Based Term Facility may be prepaid without premium or penalty, subject to a prepayment premium equal to 3.0% of the aggregate principal amount of loans prepaid or repaid during the first year after the 2021 ABTL Closing Date, 2.0% of the aggregate principal amount of loans prepaid or repaid during the second year after the 2021 ABTL Closing Date and 1.0% of the aggregate principal amount of loans prepaid or repaid thereafter. Affirmative and Negative Covenants : The 2021 Foreign Asset-Based Term Agreement contains certain affirmative and negative covenants that, among other things, limit the ABTL Loan Parties’ ability to, subject to various exceptions and qualifications: (i) incur additional debt; (ii) incur liens; (iii) sell, transfer or dispose of assets; (iv) make investments; (v) make dividends and distributions on, or repurchases of, equity; (vi) make prepayments of contractually subordinated or junior lien debt; (vii) enter into certain transactions with their affiliates, including amending certain material intercompany agreements or trade terms; (viii) enter into sale-leaseback transactions; (ix) change their lines of business; (x) restrict dividends from their subsidiaries or restrict liens; (xi) change their fiscal year; and (xii) modify the terms of certain debt. The ABTL Parent Guarantors are subject to certain customary holding company covenants. The ability of the Loan Parties to make certain intercompany asset sales, investments, restricted payments and prepayments of intercompany debt is contingent on certain "cash movement conditions" or "payment conditions" being met, which among other things, require a certain level of liquidity for the applicable Loan Party to effect such type of transactions. The 2021 Foreign Asset-Based Term Agreement also contains a financial covenant requiring the ABTL Loan Parties to maintain a minimum average balance of cash and cash equivalents of $3.5 million, tested monthly, based on the last 10 business days of each month, subject to certain cure rights. The 2021 Foreign Asset-Based Term Agreement also contains certain customary representations, warranties and events of default. Prepayments : The ABTL Borrower must prepay loans under the 2021 Foreign Asset-Based Term Facility to the extent that outstanding loans exceed the borrowing base. In lieu of a mandatory prepayment, the Loan Parties may deposit cash into a designated U.S. bank account with the ABTL Agent that is subject to a control agreement (such cash, the “Qualified Cash”). If an event of default occurs and is continuing, the Qualified Cash may be applied, at the ABTL Agent’s option, to prepay the loans under the 2021 Foreign Asset-Based Term Facility. If the borrowing base subsequently exceeds the outstanding loans, the ABTL Borrower can withdraw Qualified Cash from such bank account to the extent of such excess. In addition, the 2021 Foreign Asset-Based Term Facility is subject to mandatory prepayments from the net proceeds from the incurrence by the Loan Parties of debt not permitted thereunder. As a result of the ABTL Refinancing and the closing of the 2021 Foreign Asset-Based Term Facility without the participation of MacAndrews & Forbes as a lender, MacAndrews & Forbes’ commitment in respect of the New European ABL FILO Facility under the 2020 Restated Line of Credit Facility terminated on the ABTL Closing Date in accordance with its terms. The proceeds from the 2021 Foreign Asset-Based Term Facility were used to extinguish the entire amount outstanding under the 2018 Foreign Asset-Based Term Facility as of the closing date, which was due on July 9, 2021. In connection with such extinguishment, approximately nil and $1.0 million of pre-existing unamortized deferred financing costs were expensed within "Amortization of Debt Issuance Costs" on the Company’s Unaudited Consolidated Statement of Operations and Comprehensive Loss for the three and six month periods ended June 30, 2021. In accordance with the terms of the 2021 Foreign Asset-Based Term Agreement, approximately $13.8 million of the proceeds from the transaction are held in escrow and are recorded within "Prepaid expenses and other assets" on the Company's Unaudited Consolidated Balance Sheet as of June 30, 2021. The Company incurred approximately $3.2 million of new debt issuance costs in connection with the closing of the 2021 Foreign Asset-Based Term Facility, which are amortized to interest expense in accordance with the effective interest method over the term of the facility. 2020 Troubled Debt Restructuring As a result of the 5.75% Senior Notes Exchange Offer, and following the applicability of the Troubled Debt Restructuring guidance in ASC 470, Debt, the Company recorded $57.8 million of future interest payments. During the three and six months ended June 30, 2021, the Company recorded $4.3 million and $7.9 million, respectively, of amortization of such future interest as an offset within "Interest expense, net" on the Company's Unaudited Consolidated Statement of Operations and Comprehensive Loss. Covenants Products Corporation was in compliance with all applicable covenants under the 2020 BrandCo Credit Agreement, 2016 Credit Agreements, the 2021 Foreign Asset-Based Term Facility, as well as with all applicable covenants under its 6.25% Senior Notes Indenture, in each case as of June 30, 2021. At June 30, 2021, the aggregate principal amounts outstanding and availability under Products Corporation’s various revolving credit facilities were as follows: Commitment Borrowing Base Aggregate principal amount outstanding at June 30, 2021 Availability at June 30, 2021 (a) Tranche A Revolving Credit Facility $ 270.0 $ 155.6 $ 102.1 $ 53.5 SISO Term Loan Facility 130.0 130.0 130.0 — 2020 ABL FILO Term Loans 50.0 44.3 $ 50.0 $ — (a) Availability as of June 30, 2021 is based upon the Tranche A Revolving borrowing base then in effect under Amendment No.8 to the Amended 2016 Revolving Credit Facility of $155.6 million (which includes a $5.7 million reserve for the shortfall of the borrowing base that supports the 2020 ABL FILO Term Loans compared to the corresponding aggregate principal amount outstanding of $50 million), less $102.1 million then drawn.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTSFAIR VALUE MEASUREMENTS Assets and liabilities are required to be categorized into three levels of fair value based upon the assumptions used to value the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3, if applicable, generally would require significant management judgment. The three levels for categorizing the fair value measurement of assets and liabilities are as follows: • Level 1: Fair valuing the asset or liability using observable inputs, such as quoted prices in active markets for identical assets or liabilities; • Level 2: Fair valuing the asset or liability using inputs other than quoted prices that are observable for the applicable asset or liability, either directly or indirectly, such as quoted prices for similar (as opposed to identical) assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active; and • Level 3: Fair valuing the asset or liability using unobservable inputs that reflect the Company’s own assumptions regarding the applicable asset or liability. As of both June 30, 2021 and December 31, 2020, the Company did not have any financial assets and liabilities that were required to be measured at fair value. As of June 30, 2021, the fair value and carrying value of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below: June 30, 2021 Fair Value Level 1 Level 2 Level 3 Total Carrying Value Liabilities: Long-term debt, including current portion (a) $ — $ 2,649.7 $ — $ 2,649.7 $ 3,429.1 As of December 31, 2020, the fair value and carrying value of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below: December 31, 2020 Fair Value Level 1 Level 2 Level 3 Total Carrying Value Liabilities: Long-term debt, including current portion (a) $ — $ 2,168.9 $ — $ 2,168.9 $ 3,322.5 (a) The fair value of the Company's long-term debt, including the current portion of long-term debt, is based on quoted market prices for similar issuances and maturities. The carrying amounts of the Company's cash and cash equivalents, trade receivables, notes receivable, accounts payable and short-term borrowings approximate their respective fair values.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS6 Months Ended
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTSFINANCIAL INSTRUMENTS Letters of Credit Products Corporation maintains standby and trade letters of credit for various corporate purposes under which Products Corporation is obligated, of which $8.4 million and $7.8 million (including amounts available under credit agreements in effect at that time) were maintained as of June 30, 2021 and December 31, 2020, respectively. Included in these amounts are approximately $5.9 million and $5.3 million in standby letters of credit that primarily support Products Corporation’s workers compensation, general liability and automobile insurance programs, in each case as outstanding as of June 30, 2021 and December 31, 2020, respectively. At June 30, 2021 and December 31, 2020, respectively, all of the outstanding letters of credit were collateralized with a deposit of cash at the issuing financial institution. The estimated liability under such programs is accrued by Products Corporation.

PENSION AND POST-RETIREMENT BEN

PENSION AND POST-RETIREMENT BENEFITS6 Months Ended
Jun. 30, 2021
Retirement Benefits [Abstract]
PENSION AND POST-RETIREMENT BENEFITSPENSION AND POST-RETIREMENT BENEFITS Net Periodic Benefit Cost The components of net periodic benefit costs for the Company's pension and the other post-retirement benefit plans for the three months ended June 30, 2021 and 2020, respectively, were as follows: Pension Plans Other Three Months Ended June 30, 2021 2020 2021 2020 Net periodic benefit costs: Service cost $ 0.4 $ 0.4 $ — $ — Interest cost 2.3 3.7 0.1 0.1 Expected return on plan assets (5.0) (5.6) $ — — Amortization of actuarial loss 3.2 2.9 0.1 0.1 Total net periodic benefit costs prior to allocation $ 0.9 $ 1.4 $ 0.2 $ 0.2 Portion allocated to Revlon Holdings (0.1) (0.1) — — Total net periodic benefit costs $ 0.8 $ 1.3 $ 0.2 $ 0.2 In the three months ended June 30, 2021, the Company recognized net periodic benefit cost of $1.0 million, compared to net periodic benefit cost of $1.5 million in the three months ended June 30, 2020, primarily due to lower interest costs partially offset by lower expected return on plan assets and higher amortization of actuarial loss. The components of net periodic benefit costs for the Company's pension and the other post-retirement benefit plans for the six months ended June 30, 2021 and 2020, respectively, were as follows: Pension Plans Other Six Months Ended June 30, 2021 2020 2021 2020 Net periodic benefit costs: Service cost $ 0.7 $ 0.8 $ — $ — Interest cost 4.6 7.4 0.1 0.2 Expected return on plan assets (9.9) (11.4) — — Amortization of actuarial loss 6.6 5.6 0.3 0.2 Total net periodic benefit costs prior to allocation $ 2.0 $ 2.4 $ 0.4 $ 0.4 Portion allocated to Revlon Holdings (0.1) (0.1) — — Total net periodic benefit costs $ 1.9 $ 2.3 $ 0.4 $ 0.4 In the six months ended June 30, 2021, the Company recognized net periodic benefit cost of $2.3 million, compared to net periodic benefit cost of $2.7 million in the six months ended June 30, 2020, primarily due to lower interest costs partially offset by lower expected return on plan assets and higher amortization of actuarial loss. Net periodic benefit costs are reflected in the Company's Consolidated Financial Statements as follows for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net periodic benefit costs: Selling, general and administrative expense $ 0.3 $ 0.4 $ 0.7 $ 0.8 Miscellaneous, net 0.7 1.1 1.6 1.9 Total net periodic benefit costs $ 1.0 $ 1.5 $ 2.3 $ 2.7 The Company expects that it will have net periodic benefit cost of approximately $5 million for its pension and other post-retirement benefit plans for all of 2021, compared with net periodic benefit cost of $4.0 million in 2020. Contributions: The Company’s intent is to fund at least the minimum contributions required to meet applicable federal employee benefit laws and local laws, or to directly pay benefit payments where appropriate. During the three months ended June 30, 2021, $3.3 million and $0.2 million were contributed to the Company’s pension plans and other post-retirement benefit plans, respectively. During the six months ended June 30, 2021, $16.8 million and $0.4 million were contributed to the Company's pension plans and other post-retirement benefit plans, respectively. During 2021, the Company expects to contribute approximately $21 million to $24 million in the aggregate to its pension and other post-retirement benefit plans once given effect to the provision of the American Rescue Plan signed into law by President Biden on March 11, 2021. The American Rescue Plan includes pension funding relief for both single employer and multiemployer plans. The single employer provisions provide for higher interest rates and a longer shortfall amortization period to be used for funding valuation and benefit restriction purposes. By default, the interest rate changes will take effect for the 2020 plan year (for both minimum contribution and benefit restriction purposes) and the change in the shortfall amortization period will take effect for the 2022 plan year. However, plan sponsors can elect to defer the interest rate changes to as late as 2022 or accelerate the change in shortfall amortization period to as early as 2019. As a result, each plan sponsor will need to assess the optimal effective date(s) for the relief and make any appropriate elections.

STOCK COMPENSATION PLAN

STOCK COMPENSATION PLAN6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK COMPENSATION PLANSTOCK COMPENSATION PLAN Revlon's amended Stock Plan provides for awards of stock options, stock appreciation rights, restricted or unrestricted stock and restricted stock units ("RSUs") to eligible employees and directors of Revlon and its affiliates, including Products Corporation. On June 3, 2021 Revlon’s stockholders approved an amendment to the Stock Plan to reserve an additional 2,000,000 shares and extend the term until August 2030. As a result, an aggregate of 8,565,000 shares were reserved for issuance as Awards under the Stock Plan, of which there remained approximately 2.6 million shares available for grant as of June 30, 2021. 2019 Transaction Incentive Program As of June 30, 2021, a total of 126,275 time-based RSUs under Tier 1 of the Revlon 2019 Transaction Incentive Program (the "2019 TIP") had been granted and are outstanding under the Stock Plan. The 2019 TIP also provided for the following cash-based awards payable to certain employees, subject to continued employment through the respective vesting dates: (i) Tier 1 - $6.8 million payable in two equal installments as of December 31, 2020 and December 31, 2021; and (ii) Tier 2 - $2.5 million payable in one installment as of December 31, 2020. Such RSUs and cash-based awards are eligible for vesting following a termination without cause or due to death or disability or if not assumed upon a change in control (the “Special Vesting Rules”). Since inception and through June 30, 2021, the Company granted $1.5 million cash-based awards, net of forfeitures, under Tier 1, which are being amortized over the period from the grant dates to December 31, 2021. The total amount amortized for this Tier 1 cash-based awards since the program's inception and through June 30, 2021 is approximately $4.1 million, of which $0.4 million and $1.0 million were recorded during the three and six months ended June 30, 2021, respectively. The amortization of such awards is recorded within "Acquisition, integration and divestiture costs" in the Company's Consolidated Statements of Operations and Comprehensive Loss. Long-Term Incentive Program . During the first quarter of 2021, the Company granted approximately 1.5 million time-based RSU awards under the Stock Plan (the "2021 LTIP RSUs") to certain employees. During the second quarter of 2021, the Company granted approximately 35,000 time-based RSU awards under the 2021 LTIP RSUs. The 2021 LTIP RSUs are 100% time-based and vests as follows: 50% in March 2022; 25% in March 2023; 25% in March 2024. During the first quarter of 2020, the Company granted approximately 1.3 million time-based and performance-based RSU awards under the Stock Plan (the "2020 LTIP RSUs") to certain employees. During the second quarter of 2020, there were no grants of 2020 LTIP RSUs. During the second quarter of 2021, the Company granted approximately 78,000 TIP awards with both a cash component and RSU component, all pursuant to the Stock Plan. These TIP awards are 100% time-based and vests as follows: 50% in June 2022; 50% in June 2023. The awards are subject to continued employment through the respective vesting dates. Time-Based LTIP and TIP RSUs The Company recognized $3.3 million and $5.6 million of net compensation expense related to the time-based LTIP and TIP RSUs for the three and six months ended June 30, 2021, respectively. As of June 30, 2021, the Company had $18.1 million of total deferred compensation expense related to non-vested, time-based LTIP and TIP RSUs. The cost is recognized over the vesting period of the awards, as described above. Performance-based LTIP RSUs The Company recognized $0.1 million and $0.5 million of net compensation expense related to the performance-based LTIP RSUs for the three and six months ended June 30, 2021, respectively. As of June 30, 2021, the Company had $12.1 million of total deferred compensation expense related to non-vested, performance-based LTIP RSUs. The cost is recognized over the service period of the awards, as described above. Acceleration of Vesting Under the aforementioned provisions for acceleration of vesting, as of June 30, 2021 and since the time these provisions became effective in September 2019, 56,876 LTIP RSUs and 47,388 2019 TIP Tier 1 RSUs were vested on an accelerated basis due to involuntary terminations, resulting in accelerated amortization of approximately $2.0 million. In addition, for the six months ended June 30, 2021 and under the same accelerated vesting provisions, the Company also recorded approximately $1.8 million of accelerated amortization in connection with the cash portion of the 2019 TIP Tier 1 and Tier 2 awards that were vested on an accelerated basis due to involuntary terminations. Approximately $0.2 million in accelerated amortization were recorded in connection with the cash portion of the 2019 TIP Tier 1 awards during each of the three and six months ended June 30, 2021. See the roll-forward table in the following sections of this Note 11 for activity related to the six months ended June 30, 2021. During the six months ended June 30, 2021, the activity related to time-based and performance-based RSUs previously granted to eligible employees and the grant date fair value per share related to these RSUs were as follows under the LTIP and 2019 TIP programs, respectively: Time-Based LTIP Performance-Based LTIP RSUs (000's) Weighted-Average Grant Date Fair Value per RSU RSUs (000's) Weighted-Average Grant Date Fair Value per RSU Outstanding as of December 31, 2020 2019 TIP RSUs (a) 58.8 $ 15.95 n/a $ — LTIP RSUs: 2020 496.5 14.96 462.9 14.96 2019 169.3 22.55 255.3 22.55 2018 66.4 19.40 215.9 19.42 Total LTIP RSUs 732.2 934.1 Total LTIP and TIP RSUs Outstanding as of December 31, 2020 791.0 934.1 Granted 2019 TIP RSUs Granted 80.1 13.11 n/a — LTIP RSUs: 2021 1,543.9 10.73 — — 2020 — — — — 2019 — — — — 2018 — — — — Total LTIP RSUs Granted 1,543.9 — Vested 2019 TIP RSUs Vested (b) (7.3) 15.75 — — LTIP RSUs: 2020 (b) (182.7) 14.96 — — 2019 (b) (90.5) 22.55 — — 2018 )(b) (65.9) 19.42 (38.5) 19.44 Total LTIP RSUs Vested (339.1) (38.5) Forfeited/Canceled 2019 TIP RSUs Forfeited/Canceled (a) (5.3) 15.67 n/a — LTIP RSUs: 2021 (17.5) 10.59 — — 2020 (38.4) 14.96 (53.8) 14.96 2019 (5.7) 22.55 (34.4) 22.55 2018 (0.5) 16.80 (177.4) 19.42 Total LTIP RSUs Forfeited/Canceled (62.1) (265.6) Outstanding as of June 30, 2021 2019 TIP RSUs 126.3 14.07 n/a — LTIP RSUs: 2021 1,526.4 10.73 — — 2020 275.4 14.96 409.1 14.96 2019 73.1 22.55 220.9 22.55 2018 — — — — Total LTIP RSUs 1,874.9 630.0 Total LTIP and TIP RSUs Outstanding as of June 30, 2021 2,001.2 630.0 ((a) The 2019 TIP provides for RSU awards that are only time-based. (b) Includes acceleration of vesting upon involuntary terminations for the three and six months ended June 30, 2021 of 6,283 and 7,234 RSUs, respectively, under the 2019 and 2018 LTIPs as well as 5,475 and 6,185 RSUs, respectively, under the 2019 TIP Tier I awards.

INCOME TAXES

INCOME TAXES6 Months Ended
Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXESINCOME TAXES The Company's provision for income taxes represents federal, foreign, state and local income taxes. The Company's effective tax rate differs from the applicable federal statutory rate due to the effect of state and local income taxes, tax rates and income in foreign jurisdictions. The Company’s tax provision changes quarterly based on various factors including, but not limited to, the geographical level and mix of earnings; enacted tax legislation; foreign, state and local income taxes; tax audit settlements; and the interaction of various global tax strategies. The Company recorded a provision for income taxes of $7.2 million (Products Corporation - provision for income taxes of $7.3 million) for the three months ended June 30, 2021 and a benefit from income taxes of $9.9 million (Products Corporation - benefit from income taxes $9.6 million) for the three months ended June 30, 2020, respectively. The $17.1 million increase (Products Corporation $16.9 million in the provision for income taxes in the three months ended June 30, 2021, compared to the three months ended June 30, 2020, was primarily due to an increase in losses for which no tax benefit can be recognized. The Company recorded a provision for income taxes of $18.4 million (Products Corporation - provision for income taxes of $18.4 million) for the six months ended June 30, 2021 and a benefit from income taxes of $47.1 million (Products Corporation - benefit from income taxes of $46.5 million) for the six months ended June 30, 2020, respectively. The $65.5 million increase (Products Corporation - $64.9 million) in the provision for income taxes in the six months ended June 30, 2021, compared to the six months ended June 30, 2020, was primarily due to an increase in losses for which no tax benefit can be recognized. For the three and six month periods ended June 30, 2020, the Company concluded that the use of the cut-off tax rate method was more appropriate than the annual effective tax rate method, because the annual effective tax rate method would have not been reliable due to its sensitivity to minimal changes in forecasted annual pre-tax earnings. The Company's effective tax rate for the three and six month periods ended June 30, 2021 was lower than the federal statutory rate of 21% primarily due to losses for which no tax benefit can be recognized. On March 11, 2021, President Biden signed into law the “American Rescue Plan Act of 2021” (the "ARPA") which expands the Employee Retention Credit and the roster of ‘covered employees’ under §162(m) deduction limits. The ARPA did not have a significant impact on the Company’s financial results. The Company's effective tax rate for the three and six month periods ended June 30, 2020 was lower than the federal statutory rate of 21% primarily due to the impact of non-deductible impairment charges and the valuation allowance related to the limitation on the deductibility of interest, partially offset by the impact of the "Coronavirus Aid, Relief and Economic Security Act" (the "CARES Act"), signed into law on March 27, 2020 by President Trump, which resulted in a partial release of a valuation allowance on the Company's 2019 federal tax attributes associated with the limitation on the deductibility of interest. The CARES Act, among other things, includes provisions providing for refundable payroll tax credits, the deferral of employer social security tax payments, acceleration of alternative minimum tax credit refunds and the increase of the net interest deduction limitation from 30% to 50%. The Company adopted the net interest deduction limitation of 50% for the taxable period ending December 31, 2020 as outlined in the CARES Act. In assessing the recoverability of its deferred tax assets, the Company continually evaluates all available positive and negative evidence to assess the amount of deferred tax assets for which it is more likely than not to realize a benefit. For any deferred tax asset in excess of the amount for which it is more likely than not that the Company will realize a benefit, the Company establishes a valuation allowance. A valuation allowance is a non-cash charge, and it in no way limits the Company's ability to utilize its deferred tax assets, including its ability to utilize tax loss and credit carryforward amounts. For further information, see Note 13, "Income Taxes," to the Consolidated Financial Statements in the Company's 2020 Form 10-K and Item 1A. “Risk Factors - Uncertainties in the interpretation and application of the income tax provisions could have a material impact on the Company's financial condition, results of operations and/or cash flows” in the Company's 2020 Form 10-K.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS6 Months Ended
Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSSACCUMULATED OTHER COMPREHENSIVE LOSS A roll-forward of the Company's accumulated other comprehensive loss as of June 30, 2021 is as follows: Foreign Currency Translation Actuarial (Loss) Gain on Post-retirement Benefits Other Accumulated Other Comprehensive Loss Balance at January 1, 2021 $ (17.1) $ (260.5) $ (0.3) $ (277.9) Foreign currency translation adjustment, net of tax (5.4) — — (5.4) Amortization of pension related costs, net of tax (a) — 7.0 — 7.0 Other comprehensive (loss) gain $ (5.4) $ 7.0 $ — $ 1.6 Balance at June 30, 2021 $ (22.5) $ (253.5) $ (0.3) $ (276.3) (a) Amounts represent the change in accumulated other comprehensive loss as a result of the amortization of actuarial losses (gains) arising during each year related to the Company’s pension and other post-retirement plans. See Note 10, "Pension and Post-retirement Benefits," for further information on the Company’s pension and other post-retirement plans. For the six months ended June 30, 2021 and 2020, the Company did not have any activity related to derivative instruments.

SEGMENT DATA AND RELATED INFORM

SEGMENT DATA AND RELATED INFORMATION6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]
SEGMENT DATA AND RELATED INFORMATIONSEGMENT DATA AND RELATED INFORMATION Operating Segments Operating segments include components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (the Company's "Chief Executive Officer") in deciding how to allocate resources and in assessing the Company's performance. As a result of the similarities in the procurement, manufacturing and distribution processes for the Company’s products, much of the information provided in the Consolidated Financial Statements and provided in the segment table below is similar to, or the same as, that reviewed on a regular basis by the Company's Chief Executive Officer. The Company operates in four brand-centric reporting units that are aligned with its organizational structure based on four global brand teams: Revlon; Elizabeth Arden; Portfolio; and Fragrances, which represent the Company's four reporting segments. The Company's management evaluates segment profit for each of the Company's reportable segments. The Company allocates corporate expenses to each reportable segment to arrive at segment profit, and these expenses are included in the internal measure of segment operating performance. The Company defines segment profit as income from continuing operations before interest, taxes, depreciation, amortization, stock-based compensation expense, gains/losses on foreign currency fluctuations, gains/losses on the early extinguishment of debt and miscellaneous expenses. Segment profit also excludes the impact of certain items that are not directly attributable to the reportable segments' underlying operating performance. Such items are shown below in the table reconciling segment profit to consolidated income from continuing operations before income taxes. The Company does not have any material inter-segment sales. The accounting policies for each of the reportable segments are the same as those described in the Company's 2020 Form 10-K, in Note 1, "Description of Business and Summary of Significant Accounting Policies." The Company's assets and liabilities are managed centrally and are reported internally in the same manner as the Consolidated Financial Statements; thus, no additional information regarding assets and liabilities of the Company’s reportable segments is produced for the Company's Chief Executive Officer or included in these Consolidated Financial Statements. The following table is a comparative summary of the Company’s net sales and segment profit for Revlon and Products Corporation by reportable segment for the periods presented. Revlon, Inc. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Segment Net Sales: Revlon $ 186.8 $ 135.0 $ 348.8 $ 316.8 Elizabeth Arden 124.7 80.9 236.9 176.1 Portfolio 98.7 88.5 194.7 198.5 Fragrances 87.2 43.2 162.0 109.2 Total $ 497.4 $ 347.6 $ 942.4 $ 800.6 Segment Profit: Revlon $ 21.2 $ 12.3 $ 29.2 $ 27.9 Elizabeth Arden 11.6 10.8 20.8 15.0 Portfolio 11.1 14.5 24.2 21.7 Fragrances 20.0 7.8 27.9 9.2 Total $ 63.9 $ 45.4 $ 102.1 $ 73.8 Reconciliation: Total Segment Profit $ 63.9 $ 45.4 $ 102.1 $ 73.8 Less: Depreciation and amortization 32.3 36.4 65.6 73.2 Non-cash stock compensation expense 3.4 1.1 6.5 3.5 Non-Operating items: Restructuring and related charges 9.9 22.3 17.2 56.7 Acquisition, integration and divestiture costs 0.6 1.2 1.2 3.3 (Gain) loss on divested assets (1.8) (0.2) (1.8) 0.6 Financial control remediation and sustainability actions and related charges 0.2 5.7 0.4 7.8 Excessive coupon redemptions — — — 4.2 COVID-19 charges — 17.9 6.2 25.4 Capital structure and related charges 4.8 — 5.0 — Impairment charges — 19.8 — 144.1 Operating income (loss) 14.5 (58.8) 1.8 (245.0) Less: Interest Expense 61.9 60.9 120.8 109.3 Amortization of debt issuance costs 13.3 6.0 22.0 10.0 Gain on early extinguishment of debt — (11.9) — (11.9) Foreign currency (gains) losses, net (1.7) 2.3 1.6 18.9 Miscellaneous, net 1.5 20.6 2.7 16.5 Loss from operations before income taxes $ (60.5) $ (136.7) $ (145.3) $ (387.8) Products Corporation Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Segment Net Sales: Revlon $ 186.8 $ 135.0 $ 348.8 $ 316.8 Elizabeth Arden 124.7 80.9 236.9 176.1 Portfolio 98.7 88.5 194.7 198.5 Fragrances 87.2 43.2 162.0 109.2 Total $ 497.4 $ 347.6 $ 942.4 $ 800.6 Segment Profit: Revlon $ 21.8 $ 13.0 $ 30.2 $ 29.4 Elizabeth Arden 11.9 11.3 21.4 15.9 Portfolio 11.6 15.0 24.8 22.7 Fragrances 20.3 8.0 28.4 9.7 Total $ 65.6 $ 47.3 $ 104.8 $ 77.7 Reconciliation: Total Segment Profit $ 65.6 $ 47.3 $ 104.8 $ 77.7 Less: Depreciation and amortization 32.3 36.4 65.6 73.2 Non-cash stock compensation expense 3.4 1.1 6.5 3.5 Non-Operating items: Restructuring and related charges 9.9 22.3 17.2 56.7 Acquisition, integration and divestiture costs 0.6 1.2 1.2 3.3 (Gain) loss on divested assets (1.8) (0.2) (1.8) 0.6 Financial control remediation and sustainability actions and related charges 0.2 5.7 0.4 7.8 Excessive coupon redemptions — — — 4.2 COVID-19 charges — 17.9 6.2 25.4 Capital structure and related charges 4.8 — 5.0 — Impairment charge — 19.8 — 144.1 Operating income (loss) 16.2 (56.9) 4.5 (241.1) Less: Interest Expense 61.9 60.9 120.8 109.3 Amortization of debt issuance costs 13.3 6.0 22.0 10.0 Gain on early extinguishment of debt — (11.9) — (11.9) Foreign currency (gains) losses, net (1.7) 2.3 1.6 18.9 Miscellaneous, net 1.5 20.6 2.7 16.5 Loss from operations before income taxes $ (58.8) $ (134.8) $ (142.6) $ (383.9) As of June 30, 2021, the Company had operations established in approximately 25 countries outside of the U.S. and its products are sold throughout the world. Generally, net sales by geographic area are presented by attributing revenues from external customers on the basis of where the products are sold. The following tables present the Company's segment net sales by geography and total net sales by classes of similar products for the periods presented: Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Revlon Elizabeth Arden Portfolio Fragrances Total Revlon Elizabeth Arden Portfolio Fragrances Total Geographic Area: Net Sales North America $ 99.5 $ 20.2 $ 63.2 $ 61.0 $ 243.9 $ 182.5 $ 48.6 $ 126.7 $ 112.3 $ 470.1 EMEA* 44.0 29.5 27.0 17.9 118.4 81.6 55.5 51.9 33.5 222.5 Asia 11.6 68.2 1.2 3.9 84.9 22.6 119.8 1.9 6.9 151.2 Latin America* 15.1 2.0 4.3 2.2 23.6 26.5 3.3 7.4 4.5 41.7 Pacific* 16.6 4.8 3.0 2.2 26.6 35.6 9.7 6.8 4.8 56.9 $ 186.8 $ 124.7 $ 98.7 $ 87.2 $ 497.4 $ 348.8 $ 236.9 $ 194.7 $ 162.0 $ 942.4 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Revlon Elizabeth Arden Portfolio Fragrances Total Revlon Elizabeth Arden Portfolio Fragrances Total Geographic Area: Net Sales North America $ 80.1 $ 15.0 $ 52.1 $ 29.7 $ 176.9 179.2 36.4 122.9 71.9 $ 410.4 EMEA* 26.5 13.7 30.2 9.3 79.7 63.8 39.6 60.8 25.6 189.8 Asia 6.8 49.1 0.7 2.0 58.6 21.5 92.2 1.2 5.4 120.3 Latin America* 10.0 0.2 3.4 0.3 13.9 24.0 1.0 8.3 1.1 34.4 Pacific* 11.6 2.9 2.1 1.9 18.5 28.3 6.9 5.3 5.2 45.7 $ 135.0 $ 80.9 $ 88.5 $ 43.2 $ 347.6 $ 316.8 $ 176.1 $ 198.5 $ 109.2 $ 800.6 * The EMEA region includes Europe, the Middle East and Africa; the Latin America region includes Mexico, Central America and South America; and the Pacific region includes Australia and New Zealand. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Classes of similar products: Net sales: Color cosmetics $ 130.3 26% $ 70.6 20% $ 243.7 26% $ 200.6 25% Fragrance 127.9 26% 64.0 18% 235.3 25% 158.9 20% Hair care 117.7 24% 105.4 30% 227.4 24% 222.1 28% Beauty care 41.4 8% 45.4 13% 79.2 8% 91.5 11% Skin care 80.1 16% 62.2 19% 156.8 17% 127.5 16% $ 497.4 $ 347.6 $ 942.4 $ 800.6 The following table presents the Company's long-lived assets by geographic area: June 30, 2021 December 31, 2020 Long-lived assets, net: United States $ 1,152.5 83% $ 1,194.9 82% International 241.3 17% 260.7 18% $ 1,393.8 $ 1,455.6

REVLON, INC. BASIC AND DILUTED

REVLON, INC. BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE6 Months Ended
Jun. 30, 2021
Earnings Per Share, Basic and Diluted [Abstract]
REVLON, INC. BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHAREREVLON, INC. BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE Following are the components of Revlon's basic and diluted loss per common share for the periods presented: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Numerator: Net loss $ (67.7) $ (126.8) $ (163.7) $ (340.7) Denominator: Weighted-average common shares outstanding – Basic 54,015,794 53,471,004 53,835,622 53,319,228 Effect of dilutive restricted stock and RSUs — — — — Weighted-average common shares outstanding – Diluted 54,015,794 53,471,004 53,835,622 53,319,228 Basic and Diluted (loss) earnings per common share: Net loss per common share $ (1.25) $ (2.37) $ (3.04) $ (6.39) Unvested restricted stock and RSUs under the Stock Plan (a) 667,978 — 504,499 56,058 (a) These are outstanding common stock equivalents that were not included in the computation of Revlon's diluted earnings per common share because their inclusion would have had an anti-dilutive effect.

CONTINGENCIES

CONTINGENCIES6 Months Ended
Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIESCONTINGENCIES Citibank Litigation In the matter captioned In re Citibank August 11, 2020 Wire Transfers , No. 20-cv-06539-JMF (S.D.N.Y. Feb. 16, 2021) (the “Citi Decision”), the United States District Court for the Southern District of New York held that certain wire transfers mistakenly paid by Citibank, N.A. (“Citi”) from its own funds on August 11, 2020 to holders of term loans issued to Revlon under a Term Credit Agreement dated as of September 7, 2016 (as amended, the “2016 Facility”) were final and complete transactions not subject to revocation. The wire payments at issue were made to all lenders under the 2016 Facility in amounts equaling the principal and interest outstanding on the loans at that time. Certain lenders that received the payments returned the funds soon after the mistaken transfer, but holders of approximately $504 million did not, and as a result of the Citi Decision those lenders are entitled to keep the funds in discharge of their debt. Citi has appealed the Citi Decision. Citi has also asserted subrogation rights, but, as yet, there has been no determination of those rights (if any) under the 2016 Facility and Revlon has not taken a position on this issue. In these circumstances, it is the current intention of the Company to continue to make the scheduled payments under the 2016 Facility as if the full amount of the 2016 Facility remains outstanding. The Company is involved in various routine legal proceedings incidental to the ordinary course of its business. The Company believes that the outcome of all pending legal proceedings in the aggregate is not reasonably likely to have a material adverse effect on the Company’s business, prospects, results of operations, financial condition and/or cash flows. However, in light of the uncertainties involved in legal proceedings generally, the ultimate outcome of a particular matter could be material to the Company’s operating results for a particular period depending on, among other things, the size of the loss or the nature of the liability imposed and the level of the Company’s income for that particular period.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS6 Months Ended
Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONSRELATED PARTY TRANSACTIONS Transfer and Reimbursement Agreements Revlon, Products Corporation and MacAndrews & Forbes have entered into reimbursement agreements (the "Reimbursement Agreements") pursuant to which: (i) MacAndrews & Forbes is obligated to provide (directly or through its affiliates) certain professional and administrative services, including, without limitation, employees, to the Company, and to purchase services from third-party providers, such as insurance, legal, accounting and air transportation services, on behalf of the Company, to the extent requested by Products Corporation; and (ii) Products Corporation is obligated to provide certain professional and administrative services, including, without limitation, employees, to MacAndrews & Forbes and to purchase services from third-party providers, such as insurance, legal and accounting services, on behalf of MacAndrews & Forbes, to the extent requested by MacAndrews & Forbes, provided that in each case the performance of such services does not cause an unreasonable burden to MacAndrews & Forbes or Products Corporation, as the case may be. The Company reimburses MacAndrews & Forbes for the allocable costs of the services that MacAndrews & Forbes purchases for or provides to the Company and for the reasonable out-of-pocket expenses that MacAndrews & Forbes incurs in connection with the provision of such services. MacAndrews & Forbes reimburses Products Corporation for the allocable costs of the services that Products Corporation purchases for or provides to MacAndrews & Forbes and for the reasonable out-of-pocket expenses incurred by Products Corporation in connection with the purchase or provision of such services. Each of the Company, on the one hand, and MacAndrews & Forbes, on the other, has agreed to indemnify the other party for losses arising out of the services provided by it under the Reimbursement Agreements, other than losses resulting from its willful misconduct or gross negligence. The Reimbursement Agreements may be terminated by either party on 90 days' notice. The Company does not intend to request services under the Reimbursement Agreements unless their costs would be at least as favorable to the Company as could be obtained from unaffiliated third parties. The Company participates in MacAndrews & Forbes' directors and officers liability insurance program (the "D&O Insurance Program"), as well as its other insurance coverages, such as property damage, business interruption, liability and other coverages, which cover the Company, as well as MacAndrews & Forbes and its subsidiaries. The limits of coverage for certain of the policies are available on an aggregate basis for losses to any or all of the participating companies and their respective directors and officers. The Company reimburses MacAndrews & Forbes from time-to-time for their allocable portion of the premiums for such coverage or the Company pays the insurers directly, which premiums the Company believes are more favorable than the premiums that the Company would pay were it to secure stand-alone coverage. Any amounts paid by the Company directly to MacAndrews & Forbes in respect of premiums are included in the amounts paid under the Reimbursement Agreements. To ensure the availability of directors and officers liability insurance coverage through January 2023, the Company and MacAndrews & Forbes agreed to collectively make payments under MacAndrews & Forbes’ D&O Insurance Program. In furtherance of such arrangement, during 2020, the Company made a payment of approximately $5.3 million to MacAndrews & Forbes under the Reimbursement Agreements. The Company expects to make a further payment of approximately $1.4 million in the second half of 2021 in respect of its participation in the D&O Insurance Program. The net activity related to services purchased under the Transfer and Reimbursement Agreements during the six months ended June 30, 2021 and 2020 was approximately $0.1 million and $0.3 million income, respectively. As of both June 30, 2021 and December 31, 2020, a receivable balance of $0.1 million from MacAndrews & Forbes was included in the Company's Unaudited Consolidated Balance Sheet for transactions subject to the Transfer and Reimbursement Agreements. Tax Sharing Agreements As a result of a debt-for-equity exchange transaction completed in March 2004 (the "2004 Revlon Exchange Transactions"), as of March 25, 2004, Revlon, Products Corporation and their U.S. subsidiaries were no longer included in the MacAndrews & Forbes Group for U.S. federal income tax purposes. Registration Rights Agreement Prior to the consummation of Revlon's initial public equity offering in February 1996, Revlon and Revlon Worldwide Corporation (which subsequently merged into REV Holdings LLC, a Delaware limited liability company and a wholly-owned subsidiary of MacAndrews & Forbes ("REV Holdings")), the then direct parent of Revlon entered into a registration rights agreement (the "Registration Rights Agreement"). In February 2003, MacAndrews & Forbes executed a joinder agreement to the Registration Rights Agreement, pursuant to which REV Holdings, MacAndrews & Forbes and certain transferees of Revlon's Common Stock held by REV Holdings (the "Holders") have the right to require Revlon to register under the Securities Act all or part of the Class A Common Stock owned by such Holders, including, without limitation, the shares of Class A Common Stock purchased by MacAndrews & Forbes in connection with Revlon's 2003 $50.0 million equity rights offering and the shares of Class A Common Stock which were issued to REV Holdings upon its conversion of all 3,125,000 shares of its Class B Common Stock in October 2013 (a "Demand Registration"). In connection with closing the 2004 Revlon Exchange Transactions and pursuant to the 2004 Investment Agreement, MacAndrews & Forbes executed a joinder agreement that provided that MacAndrews & Forbes would also be a Holder under the Registration Rights Agreement and that all shares acquired by MacAndrews & Forbes pursuant to the 2004 Investment Agreement are deemed to be registrable securities under the Registration Rights Agreement. This included all of the shares of Class A Common Stock acquired by MacAndrews & Forbes in connection with Revlon’s March 2006 $110 million rights offering of shares of its Class A Common Stock and related private placement to MacAndrews & Forbes, and Revlon’s January 2007 $100 million rights offering of shares of its Class A Common Stock and related private placement to MacAndrews & Forbes. Pursuant to the Registration Rights Agreement, in 2009 Revlon registered under the Securities Act all 9,336,905 shares of Class A Common Stock issued to MacAndrews & Forbes in the 2009 Exchange Offer, in which, among other things, Revlon issued to MacAndrews & Forbes shares of Class A Common Stock at a ratio of one share of Class A Common Stock for each $5.21 of outstanding principal amount of the then-outstanding Senior Subordinated Term Loan that MacAndrews & Forbes contributed to Revlon Revlon may postpone giving effect to a Demand Registration for a period of up to 30 days if Revlon believes such registration might have a material adverse effect on any plan or proposal by Revlon with respect to any financing, acquisition, recapitalization, reorganization or other material transaction, or if Revlon is in possession of material non-public information that, if publicly disclosed, could result in a material disruption of a major corporate development or transaction then pending or in progress or could result in other material adverse consequences to Revlon. In addition, the Holders have the right to participate in registrations by Revlon of its Class A Common Stock (a "Piggyback Registration"). The Holders will pay all out-of-pocket expenses incurred in connection with any Demand Registration. Revlon will pay any expenses incurred in connection with a Piggyback Registration, except for underwriting discounts, commissions and expenses attributable to the shares of Class A Common Stock sold by such Holders. As of June 30, 2021, MacAndrews & Forbes beneficially owned approximately 86.2% of Revlon's Class A Common Stock, which at such date was Revlon's only class of capital stock outstanding. As a result, MacAndrews & Forbes is able to elect Revlon’s entire Board of Directors and control the vote on all matters submitted to a vote of Revlon's stockholders. MacAndrews & Forbes is beneficially owned by Ronald O. Perelman. Mr. Perelman is Chairman of Revlon’s and Products Corporation's Board of Directors. Other Certain of Products Corporation’s debt obligations, including the 2016 Credit Agreements and Products Corporation's Senior Notes, have been, and may in the future be, supported by, among other things, guarantees from all of Products Corporation's domestic subsidiaries (subject to certain limited exceptions) and, for the 2016 Credit Agreements, guarantees from Revlon. The obligations under such guarantees are secured by, among other things, all of the capital stock of Products Corporation and, its domestic subsidiaries (subject to certain limited exceptions) and 66% of the capital stock of Products Corporation's and its domestic subsidiaries' first-tier foreign subsidiaries. During the six months ended June 30, 2021 and 2020, the Company engaged several companies in which MacAndrews & Forbes had a controlling interest to provide the Company with various ordinary course business services. These services included processing approximately $5.6 million and $14.2 million of coupon redemptions for the Company's retail customers for the six months ended June 30, 2021 and 2020, respectively, for which the Company incurred fees of approximately $0.2 million and $0.4 million for the six months ended June 30, 2021 and 2020, respectively, and other similar advertising, coupon redemption and raw material supply services, for which the Company had net payables aggregating to approximately $0.3 million as of both June 30, 2021 and December 31, 2020. As of June 30, 2021 and December 31, 2020, payable balances of $0.2 million and approximately $0.6 million, respectively, were included in the Company's Consolidated Balance Sheet for the aforementioned coupon redemption services. The Company believes that its engagement of each of these affiliates was on arm's length terms, taking into account each firm's expertise in its respective field, and that the fees paid or received were at least as favorable as those available from unaffiliated parties.

PRODUCTS CORPORATION AND SUBSID

PRODUCTS CORPORATION AND SUBSIDIARIES GUARANTOR FINANCIAL INFORMATION6 Months Ended
Jun. 30, 2021
Condensed Financial Information Disclosure [Abstract]
PRODUCTS CORPORATION AND SUBSIDIARIES GUARANTOR FINANCIAL INFORMATIONPRODUCTS CORPORATION AND SUBSIDIARIES GUARANTOR FINANCIAL INFORMATION Products Corporation's 6.25% Senior Notes are fully and unconditionally guaranteed on a senior basis by certain of Products Corporation’s direct and indirect wholly-owned domestic subsidiaries (the "Guarantors Subsidiaries"). The following Condensed Consolidating Financial Statements present the financial information as of June 30, 2021 and December 31, 2020, and for each of the six months June 30, 2021 and 2020 for: (i) Products Corporation on a stand-alone basis; (ii) the Guarantor Subsidiaries on a stand-alone basis; (iii) the subsidiaries of Products Corporation that did not guarantee and do not guarantee Products Corporation's 6.25% Senior Notes (the "Non-Guarantor Subsidiaries") on a stand-alone basis; and; (iv) Products Corporation, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries on a consolidated basis. The Condensed Consolidating Financial Statements are presented on the equity method, under which the investments in subsidiaries are recorded at cost and adjusted to the applicable share of the subsidiary's cumulative results of operations, capital contributions, distributions and other equity changes. The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. Products Corporation and Subsidiaries Condensed Consolidating Balance Sheets As of June 30, 2021 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 12.0 $ 2.4 $ 95.4 $ — $ 109.8 Trade receivables, less allowances for doubtful accounts 77.0 86.6 150.7 — 314.3 Inventories, net 109.5 154.7 177.7 — 441.9 Prepaid expenses and other 212.7 27.2 66.3 — 306.2 Intercompany receivables 3,782.7 3,842.6 691.6 (8,316.9) — Investment in subsidiaries 1,765.0 16.6 — (1,781.6) — Property, plant and equipment, net 165.8 65.7 90.1 — 321.6 Deferred income taxes — 12.3 20.3 — 32.6 Goodwill 48.9 264.0 250.4 — 563.3 Intangible assets, net 9.5 178.9 223.5 — 411.9 Other assets 59.7 8.4 28.9 — 97.0 Total assets $ 6,242.8 $ 4,659.4 $ 1,794.9 $ (10,098.5) $ 2,598.6 LIABILITIES AND STOCKHOLDER’S DEFICIENCY Short-term borrowings $ — $ — $ 0.8 $ — $ 0.8 Current portion of long-term debt 129.6 — 0.1 — 129.7 Accounts payable 76.2 41.6 79.2 — 197.0 Accrued expenses and other 117.9 76.1 221.7 — 415.7 Intercompany payables 4,231.6 3,422.6 662.5 (8,316.7) — Long-term debt 3,226.5 — 72.9 — 3,299.4 Other long-term liabilities 314.4 101.6 (4.1) — 411.9 Total liabilities 8,096.2 3,641.9 1,033.1 (8,316.7) 4,454.5 Stockholder’s (deficiency) equity (1,853.4) 1,017.5 761.8 (1,781.8) (1,855.9) Total liabilities and stockholder’s (deficiency) equity $ 6,242.8 $ 4,659.4 $ 1,794.9 $ (10,098.5) $ 2,598.6 Products Corporation and Subsidiaries Condensed Consolidating Balance Sheets As of December 31, 2020 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 5.5 $ 2.5 $ 89.1 $ — $ 97.1 Trade receivables, less allowances for doubtful accounts 86.0 95.7 170.6 — 352.3 Inventories, net 121.3 147.7 193.6 — 462.6 Prepaid expenses and other 220.6 24.6 55.3 — 300.5 Intercompany receivables 3,592.2 3,549.6 614.1 (7,755.9) — Investment in subsidiaries 1,653.6 2.3 — (1,655.9) — Property, plant and equipment, net 178.5 72.1 101.4 — 352.0 Deferred income taxes — 10.6 23.5 — 34.1 Goodwill 48.9 264.0 250.8 — 563.7 Intangible assets, net 10.0 187.8 233.0 — 430.8 Other assets 67.9 9.3 31.9 — 109.1 Total assets $ 5,984.5 $ 4,366.2 $ 1,763.3 $ (9,411.8) $ 2,702.2 LIABILITIES AND STOCKHOLDER’S DEFICIENCY Short-term borrowings $ — $ — $ 2.5 $ — $ 2.5 Current portion of long-term debt 159.2 — 58.3 — 217.5 Accounts payable 72.5 48.0 82.8 — 203.3 Accrued expenses and other 144.1 61.7 217.4 — 423.2 Intercompany payables 3,897.1 3,162.0 696.6 (7,755.7) — Long-term debt 3,104.7 — 0.3 — 3,105.0 Other long-term liabilities 377.3 33.8 42.6 — 453.7 Total liabilities 7,754.9 3,305.5 1,100.5 (7,755.7) 4,405.2 Stockholder’s (deficiency) equity (1,770.4) 1,060.7 662.8 (1,656.1) (1,703.0) Total liabilities and stockholder’s (deficiency) equity $ 5,984.5 $ 4,366.2 $ 1,763.3 $ (9,411.8) $ 2,702.2 Products Corporation and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income Three Months Ended June 30, 2021 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net Sales $ 112.4 $ 131.2 $ 253.8 $ — $ 497.4 Cost of sales 51.1 54.4 90.8 — 196.3 Gross profit 61.3 76.8 163.0 — 301.1 Selling, general and administrative expenses 90.6 60.6 126.5 — 277.7 Acquisition and integration costs 0.6 — — — 0.6 Restructuring charges and other, net 5.6 0.7 2.1 — 8.4 Impairment charges — — — — — Gain on divested assets (1.8) — — — (1.8) Operating (loss) income (33.7) 15.5 34.4 — 16.2 Other (income) expense: Intercompany interest, net (0.5) 0.6 (0.1) — — Interest expense 61.9 — — — 61.9 Amortization of debt issuance costs 13.3 — — — 13.3 Gain on early extinguishment of debt — — — — — Foreign currency losses (gains), net 0.4 0.8 (2.9) — (1.7) Miscellaneous, net 22.2 (14.5) (6.2) — 1.5 Other expense (income), net 97.3 (13.1) (9.2) — 75.0 (Loss) income from continuing operations before income taxes (131.0) 28.6 43.6 — (58.8) (Benefit from) provision for income taxes (0.7) 1.5 6.5 — 7.3 (Loss) income from continuing operations, net of taxes (130.3) 27.1 37.1 — (66.1) Equity in income (loss) of subsidiaries 66.7 3.7 — (70.4) — Net (loss) income $ (63.6) $ 30.8 $ 37.1 $ (70.4) $ (66.1) Other comprehensive income (loss) 2.8 (2.9) (0.3) 3.4 3.0 Total comprehensive (loss) income $ (60.8) $ 27.9 $ 36.8 $ (67.0) $ (63.1) Products Corporation and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income Three Months Ended June 30, 2020 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net Sales $ 93.8 $ 78.2 $ 175.6 $ — $ 347.6 Cost of sales 54.4 43.5 70.7 — 168.6 Gross profit 39.4 34.7 104.9 — 179.0 Selling, general and administrative expenses 58.8 45.2 90.4 — 194.4 Acquisition and integration costs 2.0 (0.5) (0.3) — 1.2 Restructuring charges and other, net 17.1 3.0 0.6 — 20.7 Impairment charges 19.8 — — — 19.8 Gain on divested assets (0.2) — — — (0.2) Operating (loss) income (58.1) (13.0) 14.2 — (56.9) Other (income) expense: Intercompany interest, net (0.3) 0.6 (0.3) — — Interest expense 59.2 — 1.7 — 60.9 Amortization of debt issuance costs 6.0 — — — 6.0 Gain on early extinguishment of debt, net (11.9) — — — (11.9) Foreign currency losses (gains), net 6.2 0.5 (4.4) — 2.3 Miscellaneous, net 24.9 (6.9) 2.6 — 20.6 Other expense (income), net 84.1 (5.8) (0.4) — 77.9 (Loss) income from continuing operations before income taxes (142.2) (7.2) 14.6 — (134.8) (Benefit from) provision for income taxes (35.8) 21.6 4.6 — (9.6) Loss (income) from continuing operations, net of taxes (106.4) (28.8) 10.0 — (125.2) Equity in income (loss) of subsidiaries 4.7 (6.9) — 2.2 — Net (loss) income $ (101.7) $ (35.7) $ 10.0 $ 2.2 $ (125.2) Other comprehensive income (loss) 14.3 7.9 11.2 (19.1) 14.3 Total comprehensive (loss) income $ (87.4) $ (27.8) $ 21.2 $ (16.9) $ (110.9) Products Corporation and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income Six Months Ended June 30, 2021 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net Sales $ 208.5 $ 249.4 $ 484.5 $ — $ 942.4 Cost of sales 98.7 110.4 178.4 — 387.5 Gross profit 109.8 139.0 306.1 — 554.9 Selling, general and administrative expenses 188.8 113.0 235.4 — 537.2 Acquisition, integration and divestiture costs 1.1 — 0.1 — 1.2 Restructuring charges and other, net 6.8 2.2 4.8 — 13.8 (Gain) loss on divested assets (1.8) — — — (1.8) Operating (loss) income (85.1) 23.8 65.8 — 4.5 Other (income) expense: Intercompany interest, net (0.8) 1.2 (0.4) — — Interest expense 119.7 — 1.1 — 120.8 Amortization of debt issuance costs 22.0 — — — 22.0 Foreign currency losses, net (0.2) (0.9) 2.7 — 1.6 Miscellaneous, net 36.7 (11.8) (22.2) — 2.7 Other expense (income), net 177.4 (11.5) (18.8) — 147.1 (Loss) income from operations before income taxes (262.5) 35.3 84.6 — (142.6) Provision for (benefit from) for income taxes — 1.4 17.0 — 18.4 (Loss) income from operations, net of taxes (262.5) 33.9 67.6 — (161.0) Equity in income (loss) of subsidiaries 110.0 9.7 — (119.7) — Net (loss) income $ (152.5) $ 43.6 $ 67.6 $ (119.7) $ (161.0) Other comprehensive (loss) income 1.6 4.2 2.5 (6.7) 1.6 Total comprehensive (loss) income $ (150.9) $ 47.8 $ 70.1 $ (126.4) $ (159.4) Products Corporation and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income Six Months Ended June 30, 2020 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net Sales $ 210.2 $ 190.7 $ 399.8 $ (0.1) $ 800.6 Cost of sales 112.9 97.9 155.7 (0.1) 366.4 Gross profit 97.3 92.8 244.1 — 434.2 Selling, general and administrative expenses 163.2 116.1 202.5 — 481.8 Acquisition, integration and divestiture costs 3.2 — 0.1 — 3.3 Restructuring charges and other, net 40.7 4.3 0.5 — 45.5 Impairment charges 144.1 — — — 144.1 Loss on divested assets 0.6 — — — 0.6 Operating (loss) income (254.5) (27.6) 41.0 — (241.1) Other (income) expenses: Intercompany interest, net (3.0) 1.1 1.9 — — Interest expense 105.7 — 3.6 — 109.3 Amortization of debt issuance costs 10.0 — — — 10.0 Loss on early extinguishment of debt, net (11.9) — — — (11.9) Foreign currency losses, net 0.6 2.4 15.9 — 18.9 Miscellaneous, net 0.9 (16.1) 31.7 — 16.5 Other expense (income), net 102.3 (12.6) 53.1 — 142.8 Loss from operations before income taxes (356.8) (15.0) (12.1) — (383.9) Benefit from income taxes (52.1) 1.4 4.2 — (46.5) (Loss) income from operations, net of taxes (304.7) (16.4) (16.3) — (337.4) Equity in (loss) income of subsidiaries (29.3) (26.9) — 56.2 — Net (loss) income $ (334.0) $ (43.3) $ (16.3) $ 56.2 $ (337.4) Other comprehensive (loss) income 11.6 14.4 2.4 (16.8) 11.6 Total comprehensive (loss) income $ (322.4) $ (28.9) $ (13.9) $ 39.4 $ (325.8) Products Corporation and Subsidiaries Condensed Consolidating Statements of Cash Flows Six Months Ended June 30, 2021 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ (38.3) $ (41.2) $ 40.2 $ — $ (39.3) CASH FLOWS FROM INVESTING ACTIVITIES: Net cash (used in) provided by investing activities (0.6) 0.2 (0.4) — (0.8) CASH FLOWS FROM FINANCING ACTIVITIES: Net decrease in short-term borrowings and overdraft (0.2) (4.6) (1.9) — (6.7) Borrowings on term loans 305.0 — — — 305.0 Repayments on term loans (176.1) — — — (176.1) Net (repayments) borrowings under the revolving credit facilities (36.8) — — — (36.8) Payment of financing costs (15.8) — — — (15.8) Tax withholdings related to net share settlements of restricted stock and RSUs (2.4) — — — (2.4) Other financing activities (0.2) — — — (0.2) Net cash provided by (used in) financing activities 73.5 (4.6) (1.9) — 67.0 Effect of exchange rate changes on cash, cash equivalents and restricted cash (18.0) 47.7 (30.7) — (1.0) Net increase (decrease) in cash, cash equivalents and restricted cash 16.6 2.1 7.2 — 25.9 Cash, cash equivalents and restricted cash at beginning of period $ 6.5 $ 7.8 $ 88.2 $ — $ 102.5 Cash, cash equivalents and restricted cash at end of period $ 23.1 $ 9.9 $ 95.4 $ — $ 128.4 Products Corporation and Subsidiaries Condensed Consolidating Statements of Cash Flows Six Months Ended June 30, 2020 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash (used in) provided by operating activities $ (148.3) $ 14.6 $ (30.5) $ — $ (164.2) CASH FLOWS FROM INVESTING ACTIVITIES: Net cash (used in) provided by investing activities (2.7) — — — (2.7) CASH FLOWS FROM FINANCING ACTIVITIES: Net (decrease) increase in short-term borrowings and overdraft (1.3) (6.2) 0.5 — (7.0) Net borrowings under the Amended 2016 Revolving Credit Facility (22.9) — — — (22.9) Borrowings under the 2020 BrandCo Facilities 880.0 — — — 880.0 Repurchases of the 5.75% Senior Notes (99.6) — — — (99.6) Repayment of the 2019 Term Loan Facility (200.0) — — — (200.0) Repayments under the 2018 Foreign Asset-Based Term Loan (31.4) — — — (31.4) Repayments under the 2016 Term Loan Facility (6.9) — — (6.9) Payments of financing costs (101.2) — — — (101.2) Tax withholdings related to net share settlements of restricted stock and RSUs (1.6) — — — (1.6) Other financing activities (1.0) — — — (1.0) Net cash provided by (used in) financing activities 414.1 (6.2) 0.5 — 408.4 Effect of exchange rate changes on cash, cash equivalents and restricted cash — (9.0) 6.9 — (2.1) Net increase (decrease) in cash, cash equivalents and restricted cash 263.1 (0.6) (23.1) — 239.4 Cash, cash equivalents and restricted cash at beginning of period $ 1.0 $ 6.4 97.2 $ — 104.5 Cash, cash equivalents and restricted cash at end of period $ 264.1 $ 5.8 $ 74.1 $ — $ 343.9

DESCRIPTION OF BUSINESS AND S_2

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)6 Months Ended
Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of PresentationThe preparation of the Company's Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the Consolidated Financial Statements in the period they are determined to be necessary. Significant estimates made in the accompanying Consolidated Financial Statements include, but are not limited to: expected sales returns; certain assumptions related to the valuation of acquired intangible and long-lived assets and the recoverability of goodwill, intangible and long-lived assets; income taxes, including deferred tax valuation allowances and reserves for estimated tax liabilities; and certain estimates and assumptions used in the calculation of the net periodic benefit (income) costs and the projected benefit obligations for the Company’s pension and other post-retirement plans, including the expected long-term return on pension plan assets and the discount rate used to value the Company’s pension benefit obligations. The Unaudited Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and related notes contained in Revlon's Annual Report on Form 10-K for the fiscal year ended December 31, 2020 ("2020 Form 10-K"). The Company's results of operations and financial position for the interim periods are not indicative of those to be expected for the full year.
Recently Evaluated and/or Adopted and Recently Issued Accounting PronouncementsRecently Evaluated and/or Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standard Board ("FASB") issued Accounting Standard Update ("ASU") No. 2019-12, "Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes," which removes certain exceptions for recognizing deferred taxes for investments, performing intra-period allocations, calculating income taxes in interim periods and how a company accounts for future events. This ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. The Company adopted this guidance as of January 1, 2021. The adoption of this new guidance did not have any significant impacts on the Company’s results of operations, financial condition and/or financial statement disclosures. Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The new guidance under ASU 2020-04 provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is in the process of assessing the impact, if any, that ASU No. 2020-04 is expected to have on the Company’s results of operations, financial condition and/or financial statement disclosures. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which was subsequently amended in November 2018 through ASU No. 2018-19, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses." ASU No. 2016-13 will require entities to estimate lifetime expected credit losses for trade and other receivables, net investments in leases, financing receivables, debt securities and other instruments, which will result in earlier recognition of credit losses. Further, the new credit loss model will affect how entities in all industries estimate their allowance for losses for receivables that are current with respect to their payment terms. In November 2019, the FASB issued ASU No. 2019-10, which, among other things, deferred the application of the new guidance on credit losses for smaller reporting companies ("SRC") to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This guidance will be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., a modified-retrospective approach). Under the above-mentioned deferral, the Company expects to adopt ASU No. 2016-03, and the related ASU No. 2018-19 amendments, beginning as of January 1, 2023 and is in the process of assessing the impact, if any, that this new guidance is expected to have on the Company’s results of operations, financial condition and/or financial statement disclosures.

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)6 Months Ended
Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related ChargesA summary of the RGGA charges incurred since its inception in March 2020 and through June 30, 2021 is presented in the following table: Restructuring Charges and Other, Net Employee Severance and Other Personnel Benefits Other Costs Total Restructuring Charges Leases (a) Other Related Charges (b) Total Restructuring and Related Charges Charges incurred through December 31, 2020 $ 48.6 $ 1.9 $ 50.5 $ 12.6 $ 5.7 $ 68.8 Charges incurred during the six months ended June 30, 2021 3.0 10.8 13.8 2.6 0.8 17.2 Cumulative charges incurred through June 30, 2021 $ 51.6 $ 12.7 $ 64.3 $ 15.2 $ 6.5 $ 86.0 (a) Lease-related charges are recorded within SG&A in the Company’s Consolidated Statement of Operations and Comprehensive Loss. (b) Other related charges are recorded within SG&A and cost of sales in the Company’s Consolidated Statement of Operations and Comprehensive Loss. A summary of the RGGA restructuring charges incurred since its inception in March 2020 and through June 30, 2021 by reportable segment is presented in the following table: Charges incurred in the six months ended June 30, 2021 Cumulative charges incurred through June 30, 2021 Revlon $ 3.9 $ 24.6 Elizabeth Arden 5.1 14.5 Portfolio 2.3 15.9 Fragrances 2.5 9.3 Total $ 13.8 $ 64.3
Schedule of Liability Balance and Activity of Restructuring ProgramsThe liability balance and related activity for each of the Company's restructuring programs are presented in the following table: Utilized, Net Liability Expense, Net Foreign Currency Translation Cash Non-cash Liability Balance at June 30, 2021 RGGA: Employee severance and other personnel benefits $ 12.6 $ 3.0 $ — $ (11.0) $ — $ 4.6 Other — 10.8 — (10.8) — — Total RGGA 12.6 13.8 — (21.8) — 4.6 Other immaterial actions: Employee severance and other personnel benefits 1.2 — — (0.3) — 0.9 Other — — — — — — Total other immaterial actions 1.2 — — (0.3) — 0.9 Total restructuring reserve $ 13.8 $ 13.8 $ — $ (22.1) $ — $ 5.5

INVENTORIES (Tables)

INVENTORIES (Tables)6 Months Ended
Jun. 30, 2021
Inventory Disclosure [Abstract]
Components of InventoriesThe Company's net inventory balances consisted of the following: June 30, December 31, 2021 2020 Finished goods 315.8 $ 356.7 Raw materials and supplies 103.9 97.1 Work-in-process 22.2 8.8 $ 441.9 $ 462.6

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)6 Months Ended
Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Components of Property, Plant and Equipment BalancesThe Company's property, plant and equipment, net balances consisted of the following: June 30, December 31, 2021 2020 Land and improvements $ 11.1 $ 11.4 Building and improvements 45.8 48.3 Machinery and equipment 90.7 98.7 Office furniture, fixtures and capitalized software 68.3 76.2 Leasehold improvements 19.6 21.3 Construction-in-progress 5.4 9.1 Right-of-Use assets 80.7 87.0 Property, plant and equipment and Right-of-Use assets, net $ 321.6 $ 352.0

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill by SegmentThe following table presents the changes in goodwill by segment for the six months ended June 30, 2021: Revlon Portfolio Elizabeth Arden Fragrances Total Balance at January 1, 2021 $ 265.4 $ 87.9 $ 89.5 $ 120.9 $ 563.7 Foreign currency translation adjustment (0.1) (0.1) (0.1) (0.1) (0.4) Balance at June 30, 2021 $ 265.3 $ 87.8 $ 89.4 $ 120.8 $ 563.3 Cumulative goodwill impairment charges (a) $ (166.2) (a) Amount refers to cumulative goodwill impairment charges related to impairments recognized in 2015, 2017, 2018 and 2020.
Summary of Finite-Lived Intangible AssetsThe following tables present details of the Company's total intangible assets as of June 30, 2021 and December 31, 2020: June 30, 2021 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Useful Life (in Years) Finite-lived intangible assets: Trademarks and licenses $ 272.0 $ (136.2) $ — $ 135.8 12 Customer relationships 249.4 (117.2) — 132.2 10 Patents and internally-developed intellectual property 23.6 (16.5) — 7.1 5 Distribution rights 31.0 (8.3) — 22.7 13 Other 1.3 (1.3) — — 0 Total finite-lived intangible assets $ 577.3 $ (279.5) $ — $ 297.8 Indefinite-lived intangible assets: Trade names $ 147.2 N/A $ (33.1) $ 114.1 Total indefinite-lived intangible assets $ 147.2 N/A $ (33.1) $ 114.1 Total intangible assets $ 724.5 $ (279.5) $ (33.1) $ 411.9 December 31, 2020 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Useful Life (in Years) Finite-lived intangible assets: Trademarks and licenses $ 272.8 $ (128.6) $ — $ 144.2 12 Customer relationships 249.9 (110.7) — 139.2 11 Patents and internally-developed intellectual property 23.6 (15.6) — 8.0 5 Distribution rights 31.0 (7.5) — 23.5 14 Other 1.3 (1.3) — — 0 Total finite-lived intangible assets $ 578.6 $ (263.7) $ — $ 314.9 Indefinite-lived intangible assets: Trade names $ 149.0 N/A $ (33.1) $ 115.9 Total indefinite-lived intangible assets $ 149.0 N/A $ (33.1) $ 115.9 Total intangible assets $ 727.6 $ (263.7) $ (33.1) $ 430.8
Summary of Indefinite-Lived Intangible AssetsThe following tables present details of the Company's total intangible assets as of June 30, 2021 and December 31, 2020: June 30, 2021 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Useful Life (in Years) Finite-lived intangible assets: Trademarks and licenses $ 272.0 $ (136.2) $ — $ 135.8 12 Customer relationships 249.4 (117.2) — 132.2 10 Patents and internally-developed intellectual property 23.6 (16.5) — 7.1 5 Distribution rights 31.0 (8.3) — 22.7 13 Other 1.3 (1.3) — — 0 Total finite-lived intangible assets $ 577.3 $ (279.5) $ — $ 297.8 Indefinite-lived intangible assets: Trade names $ 147.2 N/A $ (33.1) $ 114.1 Total indefinite-lived intangible assets $ 147.2 N/A $ (33.1) $ 114.1 Total intangible assets $ 724.5 $ (279.5) $ (33.1) $ 411.9 December 31, 2020 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Weighted-Average Useful Life (in Years) Finite-lived intangible assets: Trademarks and licenses $ 272.8 $ (128.6) $ — $ 144.2 12 Customer relationships 249.9 (110.7) — 139.2 11 Patents and internally-developed intellectual property 23.6 (15.6) — 8.0 5 Distribution rights 31.0 (7.5) — 23.5 14 Other 1.3 (1.3) — — 0 Total finite-lived intangible assets $ 578.6 $ (263.7) $ — $ 314.9 Indefinite-lived intangible assets: Trade names $ 149.0 N/A $ (33.1) $ 115.9 Total indefinite-lived intangible assets $ 149.0 N/A $ (33.1) $ 115.9 Total intangible assets $ 727.6 $ (263.7) $ (33.1) $ 430.8
Estimated Future Amortization ExpenseThe following table reflects the estimated future amortization expense for each period presented, a portion of which is subject to exchange rate fluctuations, for the Company's finite-lived intangible assets as of June 30, 2021: Estimated Amortization Expense 2021 $ 16.6 2022 32.6 2023 30.9 2024 27.6 2025 26.4 Thereafter 163.7 Total $ 297.8

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)6 Months Ended
Jun. 30, 2021
Payables and Accruals [Abstract]
Components of Accrued Expenses and Other Current LiabilitiesThe Company's accrued expenses and other current liabilities consisted of the following: June 30, December 31, 2021 2020 Sales returns and allowances $ 68.6 $ 95.5 Advertising, marketing and promotional costs 102.0 96.3 Taxes (a) 49.2 41.8 Compensation and related benefits 49.1 50.1 Interest 30.9 29.6 Professional services and insurance 18.9 18.6 Short-term lease liability 15.7 16.6 Freight and distribution costs 14.7 9.5 Restructuring reserve 5.5 13.8 Software 3.2 3.1 Other 46.1 46.0 Total $ 403.9 $ 420.9

DEBT (Tables)

DEBT (Tables)6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Components of Long-Term DebtThe table below details the Company's debt balances, net of discounts and debt issuance costs. June 30, December 31, 2021 2020 Amended 2016 Revolving Credit Facility (Tranche A) due 2024 $ 100.4 $ 136.7 SISO Term Loan Facility due 2024 125.4 — 2021 Foreign Asset-Based Term Facility due 2024 70.1 — 2020 ABL FILO Term Loans due 2023 50.0 50.0 2020 Troubled-debt-restructuring: future interest 49.8 57.8 2020 BrandCo Term Loan Facility due 2025 1,736.3 1,719.8 2016 Term Loan Facility: 2016 Term Loan due 2023 and 2025 870.6 874.8 2018 Foreign Asset-Based Term Facility due 2021 — 57.7 6.25% Senior Notes due 2024 426.2 425.4 Spanish Government Loan due 2025 0.3 0.3 Debt $ 3,429.1 $ 3,322.5 Less current portion (129.7) (217.5) Long-term debt $ 3,299.4 $ 3,105.0 Short-term borrowings (*) $ 0.8 $ 2.5 (*) The weighted average interest rate on these short-term borrowings outstanding at June 30, 2021 and December 31, 2020 was 11.4% and 11.7%, respectively.
Schedule of Line of Credit FacilitiesAt June 30, 2021, the aggregate principal amounts outstanding and availability under Products Corporation’s various revolving credit facilities were as follows: Commitment Borrowing Base Aggregate principal amount outstanding at June 30, 2021 Availability at June 30, 2021 (a) Tranche A Revolving Credit Facility $ 270.0 $ 155.6 $ 102.1 $ 53.5 SISO Term Loan Facility 130.0 130.0 130.0 — 2020 ABL FILO Term Loans 50.0 44.3 $ 50.0 $ —

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Disclosure of Asset and Liability Not Measured at Fair ValueAs of June 30, 2021, the fair value and carrying value of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below: June 30, 2021 Fair Value Level 1 Level 2 Level 3 Total Carrying Value Liabilities: Long-term debt, including current portion (a) $ — $ 2,649.7 $ — $ 2,649.7 $ 3,429.1 As of December 31, 2020, the fair value and carrying value of the Company’s long-term debt, including the current portion of long-term debt, are categorized in the table below: December 31, 2020 Fair Value Level 1 Level 2 Level 3 Total Carrying Value Liabilities: Long-term debt, including current portion (a) $ — $ 2,168.9 $ — $ 2,168.9 $ 3,322.5 (a) The fair value of the Company's long-term debt, including the current portion of long-term debt, is based on quoted market prices for similar issuances and maturities.

PENSION AND POST-RETIREMENT B_2

PENSION AND POST-RETIREMENT BENEFITS (Tables)6 Months Ended
Jun. 30, 2021
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit CostsThe components of net periodic benefit costs for the Company's pension and the other post-retirement benefit plans for the three months ended June 30, 2021 and 2020, respectively, were as follows: Pension Plans Other Three Months Ended June 30, 2021 2020 2021 2020 Net periodic benefit costs: Service cost $ 0.4 $ 0.4 $ — $ — Interest cost 2.3 3.7 0.1 0.1 Expected return on plan assets (5.0) (5.6) $ — — Amortization of actuarial loss 3.2 2.9 0.1 0.1 Total net periodic benefit costs prior to allocation $ 0.9 $ 1.4 $ 0.2 $ 0.2 Portion allocated to Revlon Holdings (0.1) (0.1) — — Total net periodic benefit costs $ 0.8 $ 1.3 $ 0.2 $ 0.2 The components of net periodic benefit costs for the Company's pension and the other post-retirement benefit plans for the six months ended June 30, 2021 and 2020, respectively, were as follows: Pension Plans Other Six Months Ended June 30, 2021 2020 2021 2020 Net periodic benefit costs: Service cost $ 0.7 $ 0.8 $ — $ — Interest cost 4.6 7.4 0.1 0.2 Expected return on plan assets (9.9) (11.4) — — Amortization of actuarial loss 6.6 5.6 0.3 0.2 Total net periodic benefit costs prior to allocation $ 2.0 $ 2.4 $ 0.4 $ 0.4 Portion allocated to Revlon Holdings (0.1) (0.1) — — Total net periodic benefit costs $ 1.9 $ 2.3 $ 0.4 $ 0.4
Schedule of Classification of Net Periodic Benefit CostsNet periodic benefit costs are reflected in the Company's Consolidated Financial Statements as follows for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net periodic benefit costs: Selling, general and administrative expense $ 0.3 $ 0.4 $ 0.7 $ 0.8 Miscellaneous, net 0.7 1.1 1.6 1.9 Total net periodic benefit costs $ 1.0 $ 1.5 $ 2.3 $ 2.7

STOCK COMPENSATION PLAN (Tables

STOCK COMPENSATION PLAN (Tables)6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Restricted stock units award activityDuring the six months ended June 30, 2021, the activity related to time-based and performance-based RSUs previously granted to eligible employees and the grant date fair value per share related to these RSUs were as follows under the LTIP and 2019 TIP programs, respectively: Time-Based LTIP Performance-Based LTIP RSUs (000's) Weighted-Average Grant Date Fair Value per RSU RSUs (000's) Weighted-Average Grant Date Fair Value per RSU Outstanding as of December 31, 2020 2019 TIP RSUs (a) 58.8 $ 15.95 n/a $ — LTIP RSUs: 2020 496.5 14.96 462.9 14.96 2019 169.3 22.55 255.3 22.55 2018 66.4 19.40 215.9 19.42 Total LTIP RSUs 732.2 934.1 Total LTIP and TIP RSUs Outstanding as of December 31, 2020 791.0 934.1 Granted 2019 TIP RSUs Granted 80.1 13.11 n/a — LTIP RSUs: 2021 1,543.9 10.73 — — 2020 — — — — 2019 — — — — 2018 — — — — Total LTIP RSUs Granted 1,543.9 — Vested 2019 TIP RSUs Vested (b) (7.3) 15.75 — — LTIP RSUs: 2020 (b) (182.7) 14.96 — — 2019 (b) (90.5) 22.55 — — 2018 )(b) (65.9) 19.42 (38.5) 19.44 Total LTIP RSUs Vested (339.1) (38.5) Forfeited/Canceled 2019 TIP RSUs Forfeited/Canceled (a) (5.3) 15.67 n/a — LTIP RSUs: 2021 (17.5) 10.59 — — 2020 (38.4) 14.96 (53.8) 14.96 2019 (5.7) 22.55 (34.4) 22.55 2018 (0.5) 16.80 (177.4) 19.42 Total LTIP RSUs Forfeited/Canceled (62.1) (265.6) Outstanding as of June 30, 2021 2019 TIP RSUs 126.3 14.07 n/a — LTIP RSUs: 2021 1,526.4 10.73 — — 2020 275.4 14.96 409.1 14.96 2019 73.1 22.55 220.9 22.55 2018 — — — — Total LTIP RSUs 1,874.9 630.0 Total LTIP and TIP RSUs Outstanding as of June 30, 2021 2,001.2 630.0 ((a) The 2019 TIP provides for RSU awards that are only time-based. (b) Includes acceleration of vesting upon involuntary terminations for the three and six months ended June 30, 2021 of 6,283 and 7,234 RSUs, respectively, under the 2019 and 2018 LTIPs as well as 5,475 and 6,185 RSUs, respectively, under the 2019 TIP Tier I awards.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)6 Months Ended
Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive LossA roll-forward of the Company's accumulated other comprehensive loss as of June 30, 2021 is as follows: Foreign Currency Translation Actuarial (Loss) Gain on Post-retirement Benefits Other Accumulated Other Comprehensive Loss Balance at January 1, 2021 $ (17.1) $ (260.5) $ (0.3) $ (277.9) Foreign currency translation adjustment, net of tax (5.4) — — (5.4) Amortization of pension related costs, net of tax (a) — 7.0 — 7.0 Other comprehensive (loss) gain $ (5.4) $ 7.0 $ — $ 1.6 Balance at June 30, 2021 $ (22.5) $ (253.5) $ (0.3) $ (276.3) (a) Amounts represent the change in accumulated other comprehensive loss as a result of the amortization of actuarial losses (gains) arising during each year related to the Company’s pension and other post-retirement plans. See Note 10, "Pension and Post-retirement Benefits," for further information on the Company’s pension and other post-retirement plans.

SEGMENT DATA AND RELATED INFO_2

SEGMENT DATA AND RELATED INFORMATION (Tables)6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by SegmentThe following table is a comparative summary of the Company’s net sales and segment profit for Revlon and Products Corporation by reportable segment for the periods presented. Revlon, Inc. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Segment Net Sales: Revlon $ 186.8 $ 135.0 $ 348.8 $ 316.8 Elizabeth Arden 124.7 80.9 236.9 176.1 Portfolio 98.7 88.5 194.7 198.5 Fragrances 87.2 43.2 162.0 109.2 Total $ 497.4 $ 347.6 $ 942.4 $ 800.6 Segment Profit: Revlon $ 21.2 $ 12.3 $ 29.2 $ 27.9 Elizabeth Arden 11.6 10.8 20.8 15.0 Portfolio 11.1 14.5 24.2 21.7 Fragrances 20.0 7.8 27.9 9.2 Total $ 63.9 $ 45.4 $ 102.1 $ 73.8 Reconciliation: Total Segment Profit $ 63.9 $ 45.4 $ 102.1 $ 73.8 Less: Depreciation and amortization 32.3 36.4 65.6 73.2 Non-cash stock compensation expense 3.4 1.1 6.5 3.5 Non-Operating items: Restructuring and related charges 9.9 22.3 17.2 56.7 Acquisition, integration and divestiture costs 0.6 1.2 1.2 3.3 (Gain) loss on divested assets (1.8) (0.2) (1.8) 0.6 Financial control remediation and sustainability actions and related charges 0.2 5.7 0.4 7.8 Excessive coupon redemptions — — — 4.2 COVID-19 charges — 17.9 6.2 25.4 Capital structure and related charges 4.8 — 5.0 — Impairment charges — 19.8 — 144.1 Operating income (loss) 14.5 (58.8) 1.8 (245.0) Less: Interest Expense 61.9 60.9 120.8 109.3 Amortization of debt issuance costs 13.3 6.0 22.0 10.0 Gain on early extinguishment of debt — (11.9) — (11.9) Foreign currency (gains) losses, net (1.7) 2.3 1.6 18.9 Miscellaneous, net 1.5 20.6 2.7 16.5 Loss from operations before income taxes $ (60.5) $ (136.7) $ (145.3) $ (387.8) Products Corporation Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Segment Net Sales: Revlon $ 186.8 $ 135.0 $ 348.8 $ 316.8 Elizabeth Arden 124.7 80.9 236.9 176.1 Portfolio 98.7 88.5 194.7 198.5 Fragrances 87.2 43.2 162.0 109.2 Total $ 497.4 $ 347.6 $ 942.4 $ 800.6 Segment Profit: Revlon $ 21.8 $ 13.0 $ 30.2 $ 29.4 Elizabeth Arden 11.9 11.3 21.4 15.9 Portfolio 11.6 15.0 24.8 22.7 Fragrances 20.3 8.0 28.4 9.7 Total $ 65.6 $ 47.3 $ 104.8 $ 77.7 Reconciliation: Total Segment Profit $ 65.6 $ 47.3 $ 104.8 $ 77.7 Less: Depreciation and amortization 32.3 36.4 65.6 73.2 Non-cash stock compensation expense 3.4 1.1 6.5 3.5 Non-Operating items: Restructuring and related charges 9.9 22.3 17.2 56.7 Acquisition, integration and divestiture costs 0.6 1.2 1.2 3.3 (Gain) loss on divested assets (1.8) (0.2) (1.8) 0.6 Financial control remediation and sustainability actions and related charges 0.2 5.7 0.4 7.8 Excessive coupon redemptions — — — 4.2 COVID-19 charges — 17.9 6.2 25.4 Capital structure and related charges 4.8 — 5.0 — Impairment charge — 19.8 — 144.1 Operating income (loss) 16.2 (56.9) 4.5 (241.1) Less: Interest Expense 61.9 60.9 120.8 109.3 Amortization of debt issuance costs 13.3 6.0 22.0 10.0 Gain on early extinguishment of debt — (11.9) — (11.9) Foreign currency (gains) losses, net (1.7) 2.3 1.6 18.9 Miscellaneous, net 1.5 20.6 2.7 16.5 Loss from operations before income taxes $ (58.8) $ (134.8) $ (142.6) $ (383.9)
Schedule of Net Sales and Long-Lived Assets by Geographic AreaThe following tables present the Company's segment net sales by geography and total net sales by classes of similar products for the periods presented: Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Revlon Elizabeth Arden Portfolio Fragrances Total Revlon Elizabeth Arden Portfolio Fragrances Total Geographic Area: Net Sales North America $ 99.5 $ 20.2 $ 63.2 $ 61.0 $ 243.9 $ 182.5 $ 48.6 $ 126.7 $ 112.3 $ 470.1 EMEA* 44.0 29.5 27.0 17.9 118.4 81.6 55.5 51.9 33.5 222.5 Asia 11.6 68.2 1.2 3.9 84.9 22.6 119.8 1.9 6.9 151.2 Latin America* 15.1 2.0 4.3 2.2 23.6 26.5 3.3 7.4 4.5 41.7 Pacific* 16.6 4.8 3.0 2.2 26.6 35.6 9.7 6.8 4.8 56.9 $ 186.8 $ 124.7 $ 98.7 $ 87.2 $ 497.4 $ 348.8 $ 236.9 $ 194.7 $ 162.0 $ 942.4 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Revlon Elizabeth Arden Portfolio Fragrances Total Revlon Elizabeth Arden Portfolio Fragrances Total Geographic Area: Net Sales North America $ 80.1 $ 15.0 $ 52.1 $ 29.7 $ 176.9 179.2 36.4 122.9 71.9 $ 410.4 EMEA* 26.5 13.7 30.2 9.3 79.7 63.8 39.6 60.8 25.6 189.8 Asia 6.8 49.1 0.7 2.0 58.6 21.5 92.2 1.2 5.4 120.3 Latin America* 10.0 0.2 3.4 0.3 13.9 24.0 1.0 8.3 1.1 34.4 Pacific* 11.6 2.9 2.1 1.9 18.5 28.3 6.9 5.3 5.2 45.7 $ 135.0 $ 80.9 $ 88.5 $ 43.2 $ 347.6 $ 316.8 $ 176.1 $ 198.5 $ 109.2 $ 800.6 * The EMEA region includes Europe, the Middle East and Africa; the Latin America region includes Mexico, Central America and South America; and the Pacific region includes Australia and New Zealand. The following table presents the Company's long-lived assets by geographic area: June 30, 2021 December 31, 2020 Long-lived assets, net: United States $ 1,152.5 83% $ 1,194.9 82% International 241.3 17% 260.7 18% $ 1,393.8 $ 1,455.6
Schedule of Net Sales by Classes of Similar ProductsThree Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Classes of similar products: Net sales: Color cosmetics $ 130.3 26% $ 70.6 20% $ 243.7 26% $ 200.6 25% Fragrance 127.9 26% 64.0 18% 235.3 25% 158.9 20% Hair care 117.7 24% 105.4 30% 227.4 24% 222.1 28% Beauty care 41.4 8% 45.4 13% 79.2 8% 91.5 11% Skin care 80.1 16% 62.2 19% 156.8 17% 127.5 16% $ 497.4 $ 347.6 $ 942.4 $ 800.6

REVLON, INC. BASIC AND DILUTE_2

REVLON, INC. BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE (Tables)6 Months Ended
Jun. 30, 2021
Earnings Per Share, Basic and Diluted [Abstract]
Components of Basic and Diluted Loss Per ShareFollowing are the components of Revlon's basic and diluted loss per common share for the periods presented: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Numerator: Net loss $ (67.7) $ (126.8) $ (163.7) $ (340.7) Denominator: Weighted-average common shares outstanding – Basic 54,015,794 53,471,004 53,835,622 53,319,228 Effect of dilutive restricted stock and RSUs — — — — Weighted-average common shares outstanding – Diluted 54,015,794 53,471,004 53,835,622 53,319,228 Basic and Diluted (loss) earnings per common share: Net loss per common share $ (1.25) $ (2.37) $ (3.04) $ (6.39) Unvested restricted stock and RSUs under the Stock Plan (a) 667,978 — 504,499 56,058 (a) These are outstanding common stock equivalents that were not included in the computation of Revlon's diluted earnings per common share because their inclusion would have had an anti-dilutive effect.

PRODUCTS CORPORATION AND SUBS_2

PRODUCTS CORPORATION AND SUBSIDIARIES GUARANTOR FINANCIAL INFORMATION (Tables)6 Months Ended
Jun. 30, 2021
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Balance SheetsProducts Corporation and Subsidiaries Condensed Consolidating Balance Sheets As of June 30, 2021 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 12.0 $ 2.4 $ 95.4 $ — $ 109.8 Trade receivables, less allowances for doubtful accounts 77.0 86.6 150.7 — 314.3 Inventories, net 109.5 154.7 177.7 — 441.9 Prepaid expenses and other 212.7 27.2 66.3 — 306.2 Intercompany receivables 3,782.7 3,842.6 691.6 (8,316.9) — Investment in subsidiaries 1,765.0 16.6 — (1,781.6) — Property, plant and equipment, net 165.8 65.7 90.1 — 321.6 Deferred income taxes — 12.3 20.3 — 32.6 Goodwill 48.9 264.0 250.4 — 563.3 Intangible assets, net 9.5 178.9 223.5 — 411.9 Other assets 59.7 8.4 28.9 — 97.0 Total assets $ 6,242.8 $ 4,659.4 $ 1,794.9 $ (10,098.5) $ 2,598.6 LIABILITIES AND STOCKHOLDER’S DEFICIENCY Short-term borrowings $ — $ — $ 0.8 $ — $ 0.8 Current portion of long-term debt 129.6 — 0.1 — 129.7 Accounts payable 76.2 41.6 79.2 — 197.0 Accrued expenses and other 117.9 76.1 221.7 — 415.7 Intercompany payables 4,231.6 3,422.6 662.5 (8,316.7) — Long-term debt 3,226.5 — 72.9 — 3,299.4 Other long-term liabilities 314.4 101.6 (4.1) — 411.9 Total liabilities 8,096.2 3,641.9 1,033.1 (8,316.7) 4,454.5 Stockholder’s (deficiency) equity (1,853.4) 1,017.5 761.8 (1,781.8) (1,855.9) Total liabilities and stockholder’s (deficiency) equity $ 6,242.8 $ 4,659.4 $ 1,794.9 $ (10,098.5) $ 2,598.6 Products Corporation and Subsidiaries Condensed Consolidating Balance Sheets As of December 31, 2020 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 5.5 $ 2.5 $ 89.1 $ — $ 97.1 Trade receivables, less allowances for doubtful accounts 86.0 95.7 170.6 — 352.3 Inventories, net 121.3 147.7 193.6 — 462.6 Prepaid expenses and other 220.6 24.6 55.3 — 300.5 Intercompany receivables 3,592.2 3,549.6 614.1 (7,755.9) — Investment in subsidiaries 1,653.6 2.3 — (1,655.9) — Property, plant and equipment, net 178.5 72.1 101.4 — 352.0 Deferred income taxes — 10.6 23.5 — 34.1 Goodwill 48.9 264.0 250.8 — 563.7 Intangible assets, net 10.0 187.8 233.0 — 430.8 Other assets 67.9 9.3 31.9 — 109.1 Total assets $ 5,984.5 $ 4,366.2 $ 1,763.3 $ (9,411.8) $ 2,702.2 LIABILITIES AND STOCKHOLDER’S DEFICIENCY Short-term borrowings $ — $ — $ 2.5 $ — $ 2.5 Current portion of long-term debt 159.2 — 58.3 — 217.5 Accounts payable 72.5 48.0 82.8 — 203.3 Accrued expenses and other 144.1 61.7 217.4 — 423.2 Intercompany payables 3,897.1 3,162.0 696.6 (7,755.7) — Long-term debt 3,104.7 — 0.3 — 3,105.0 Other long-term liabilities 377.3 33.8 42.6 — 453.7 Total liabilities 7,754.9 3,305.5 1,100.5 (7,755.7) 4,405.2 Stockholder’s (deficiency) equity (1,770.4) 1,060.7 662.8 (1,656.1) (1,703.0) Total liabilities and stockholder’s (deficiency) equity $ 5,984.5 $ 4,366.2 $ 1,763.3 $ (9,411.8) $ 2,702.2
Condensed Consolidating Statement of Operations and and Comprehensive (Loss) IncomeProducts Corporation and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income Three Months Ended June 30, 2021 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net Sales $ 112.4 $ 131.2 $ 253.8 $ — $ 497.4 Cost of sales 51.1 54.4 90.8 — 196.3 Gross profit 61.3 76.8 163.0 — 301.1 Selling, general and administrative expenses 90.6 60.6 126.5 — 277.7 Acquisition and integration costs 0.6 — — — 0.6 Restructuring charges and other, net 5.6 0.7 2.1 — 8.4 Impairment charges — — — — — Gain on divested assets (1.8) — — — (1.8) Operating (loss) income (33.7) 15.5 34.4 — 16.2 Other (income) expense: Intercompany interest, net (0.5) 0.6 (0.1) — — Interest expense 61.9 — — — 61.9 Amortization of debt issuance costs 13.3 — — — 13.3 Gain on early extinguishment of debt — — — — — Foreign currency losses (gains), net 0.4 0.8 (2.9) — (1.7) Miscellaneous, net 22.2 (14.5) (6.2) — 1.5 Other expense (income), net 97.3 (13.1) (9.2) — 75.0 (Loss) income from continuing operations before income taxes (131.0) 28.6 43.6 — (58.8) (Benefit from) provision for income taxes (0.7) 1.5 6.5 — 7.3 (Loss) income from continuing operations, net of taxes (130.3) 27.1 37.1 — (66.1) Equity in income (loss) of subsidiaries 66.7 3.7 — (70.4) — Net (loss) income $ (63.6) $ 30.8 $ 37.1 $ (70.4) $ (66.1) Other comprehensive income (loss) 2.8 (2.9) (0.3) 3.4 3.0 Total comprehensive (loss) income $ (60.8) $ 27.9 $ 36.8 $ (67.0) $ (63.1) Products Corporation and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income Three Months Ended June 30, 2020 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net Sales $ 93.8 $ 78.2 $ 175.6 $ — $ 347.6 Cost of sales 54.4 43.5 70.7 — 168.6 Gross profit 39.4 34.7 104.9 — 179.0 Selling, general and administrative expenses 58.8 45.2 90.4 — 194.4 Acquisition and integration costs 2.0 (0.5) (0.3) — 1.2 Restructuring charges and other, net 17.1 3.0 0.6 — 20.7 Impairment charges 19.8 — — — 19.8 Gain on divested assets (0.2) — — — (0.2) Operating (loss) income (58.1) (13.0) 14.2 — (56.9) Other (income) expense: Intercompany interest, net (0.3) 0.6 (0.3) — — Interest expense 59.2 — 1.7 — 60.9 Amortization of debt issuance costs 6.0 — — — 6.0 Gain on early extinguishment of debt, net (11.9) — — — (11.9) Foreign currency losses (gains), net 6.2 0.5 (4.4) — 2.3 Miscellaneous, net 24.9 (6.9) 2.6 — 20.6 Other expense (income), net 84.1 (5.8) (0.4) — 77.9 (Loss) income from continuing operations before income taxes (142.2) (7.2) 14.6 — (134.8) (Benefit from) provision for income taxes (35.8) 21.6 4.6 — (9.6) Loss (income) from continuing operations, net of taxes (106.4) (28.8) 10.0 — (125.2) Equity in income (loss) of subsidiaries 4.7 (6.9) — 2.2 — Net (loss) income $ (101.7) $ (35.7) $ 10.0 $ 2.2 $ (125.2) Other comprehensive income (loss) 14.3 7.9 11.2 (19.1) 14.3 Total comprehensive (loss) income $ (87.4) $ (27.8) $ 21.2 $ (16.9) $ (110.9) Products Corporation and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income Six Months Ended June 30, 2021 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net Sales $ 208.5 $ 249.4 $ 484.5 $ — $ 942.4 Cost of sales 98.7 110.4 178.4 — 387.5 Gross profit 109.8 139.0 306.1 — 554.9 Selling, general and administrative expenses 188.8 113.0 235.4 — 537.2 Acquisition, integration and divestiture costs 1.1 — 0.1 — 1.2 Restructuring charges and other, net 6.8 2.2 4.8 — 13.8 (Gain) loss on divested assets (1.8) — — — (1.8) Operating (loss) income (85.1) 23.8 65.8 — 4.5 Other (income) expense: Intercompany interest, net (0.8) 1.2 (0.4) — — Interest expense 119.7 — 1.1 — 120.8 Amortization of debt issuance costs 22.0 — — — 22.0 Foreign currency losses, net (0.2) (0.9) 2.7 — 1.6 Miscellaneous, net 36.7 (11.8) (22.2) — 2.7 Other expense (income), net 177.4 (11.5) (18.8) — 147.1 (Loss) income from operations before income taxes (262.5) 35.3 84.6 — (142.6) Provision for (benefit from) for income taxes — 1.4 17.0 — 18.4 (Loss) income from operations, net of taxes (262.5) 33.9 67.6 — (161.0) Equity in income (loss) of subsidiaries 110.0 9.7 — (119.7) — Net (loss) income $ (152.5) $ 43.6 $ 67.6 $ (119.7) $ (161.0) Other comprehensive (loss) income 1.6 4.2 2.5 (6.7) 1.6 Total comprehensive (loss) income $ (150.9) $ 47.8 $ 70.1 $ (126.4) $ (159.4) Products Corporation and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income Six Months Ended June 30, 2020 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net Sales $ 210.2 $ 190.7 $ 399.8 $ (0.1) $ 800.6 Cost of sales 112.9 97.9 155.7 (0.1) 366.4 Gross profit 97.3 92.8 244.1 — 434.2 Selling, general and administrative expenses 163.2 116.1 202.5 — 481.8 Acquisition, integration and divestiture costs 3.2 — 0.1 — 3.3 Restructuring charges and other, net 40.7 4.3 0.5 — 45.5 Impairment charges 144.1 — — — 144.1 Loss on divested assets 0.6 — — — 0.6 Operating (loss) income (254.5) (27.6) 41.0 — (241.1) Other (income) expenses: Intercompany interest, net (3.0) 1.1 1.9 — — Interest expense 105.7 — 3.6 — 109.3 Amortization of debt issuance costs 10.0 — — — 10.0 Loss on early extinguishment of debt, net (11.9) — — — (11.9) Foreign currency losses, net 0.6 2.4 15.9 — 18.9 Miscellaneous, net 0.9 (16.1) 31.7 — 16.5 Other expense (income), net 102.3 (12.6) 53.1 — 142.8 Loss from operations before income taxes (356.8) (15.0) (12.1) — (383.9) Benefit from income taxes (52.1) 1.4 4.2 — (46.5) (Loss) income from operations, net of taxes (304.7) (16.4) (16.3) — (337.4) Equity in (loss) income of subsidiaries (29.3) (26.9) — 56.2 — Net (loss) income $ (334.0) $ (43.3) $ (16.3) $ 56.2 $ (337.4) Other comprehensive (loss) income 11.6 14.4 2.4 (16.8) 11.6 Total comprehensive (loss) income $ (322.4) $ (28.9) $ (13.9) $ 39.4 $ (325.8)
Condensed Consolidating Statements of Cash FlowsProducts Corporation and Subsidiaries Condensed Consolidating Statements of Cash Flows Six Months Ended June 30, 2021 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ (38.3) $ (41.2) $ 40.2 $ — $ (39.3) CASH FLOWS FROM INVESTING ACTIVITIES: Net cash (used in) provided by investing activities (0.6) 0.2 (0.4) — (0.8) CASH FLOWS FROM FINANCING ACTIVITIES: Net decrease in short-term borrowings and overdraft (0.2) (4.6) (1.9) — (6.7) Borrowings on term loans 305.0 — — — 305.0 Repayments on term loans (176.1) — — — (176.1) Net (repayments) borrowings under the revolving credit facilities (36.8) — — — (36.8) Payment of financing costs (15.8) — — — (15.8) Tax withholdings related to net share settlements of restricted stock and RSUs (2.4) — — — (2.4) Other financing activities (0.2) — — — (0.2) Net cash provided by (used in) financing activities 73.5 (4.6) (1.9) — 67.0 Effect of exchange rate changes on cash, cash equivalents and restricted cash (18.0) 47.7 (30.7) — (1.0) Net increase (decrease) in cash, cash equivalents and restricted cash 16.6 2.1 7.2 — 25.9 Cash, cash equivalents and restricted cash at beginning of period $ 6.5 $ 7.8 $ 88.2 $ — $ 102.5 Cash, cash equivalents and restricted cash at end of period $ 23.1 $ 9.9 $ 95.4 $ — $ 128.4 Products Corporation and Subsidiaries Condensed Consolidating Statements of Cash Flows Six Months Ended June 30, 2020 Products Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash (used in) provided by operating activities $ (148.3) $ 14.6 $ (30.5) $ — $ (164.2) CASH FLOWS FROM INVESTING ACTIVITIES: Net cash (used in) provided by investing activities (2.7) — — — (2.7) CASH FLOWS FROM FINANCING ACTIVITIES: Net (decrease) increase in short-term borrowings and overdraft (1.3) (6.2) 0.5 — (7.0) Net borrowings under the Amended 2016 Revolving Credit Facility (22.9) — — — (22.9) Borrowings under the 2020 BrandCo Facilities 880.0 — — — 880.0 Repurchases of the 5.75% Senior Notes (99.6) — — — (99.6) Repayment of the 2019 Term Loan Facility (200.0) — — — (200.0) Repayments under the 2018 Foreign Asset-Based Term Loan (31.4) — — — (31.4) Repayments under the 2016 Term Loan Facility (6.9) — — (6.9) Payments of financing costs (101.2) — — — (101.2) Tax withholdings related to net share settlements of restricted stock and RSUs (1.6) — — — (1.6) Other financing activities (1.0) — — — (1.0) Net cash provided by (used in) financing activities 414.1 (6.2) 0.5 — 408.4 Effect of exchange rate changes on cash, cash equivalents and restricted cash — (9.0) 6.9 — (2.1) Net increase (decrease) in cash, cash equivalents and restricted cash 263.1 (0.6) (23.1) — 239.4 Cash, cash equivalents and restricted cash at beginning of period $ 1.0 $ 6.4 97.2 $ — 104.5 Cash, cash equivalents and restricted cash at end of period $ 264.1 $ 5.8 $ 74.1 $ — $ 343.9

DESCRIPTION OF BUSINESS AND S_3

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Liquidity position $ 153.1
Cash and cash equivalents109.8 $ 97.1
Outstanding checks10.2
2016 Revolving Credit Agreement
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Remaining borrowing capacity53.5
Amount outstanding282.1
Foreign Subsidiaries
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents $ 97.3

RESTRUCTURING CHARGES - Narrati

RESTRUCTURING CHARGES - Narrative (Details) - RGGA Program - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring costs recognized to date $ 86 $ 68.8
Employee severance, other personnel benefits and other costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs recognized to date64.3 $ 50.5
Lease and other restructuring-related charges
Restructuring Cost and Reserve [Line Items]
Restructuring costs recognized to date $ 21.7

RESTRUCTURING CHARGES - Restruc

RESTRUCTURING CHARGES - Restructuring and Related Charges Activity (Details) $ in Millions6 Months Ended
Jun. 30, 2021USD ($)
Total Restructuring Charges
Restructuring Reserve [Roll Forward]
Charges incurred during period $ 13.8
RGGA Program
Restructuring Reserve [Roll Forward]
Charges incurred through beginning of period68.8
Charges incurred during period17.2
Charges incurred through end of period86
RGGA Program | Total Restructuring Charges
Restructuring Reserve [Roll Forward]
Charges incurred through beginning of period50.5
Charges incurred during period13.8
Charges incurred through end of period64.3
RGGA Program | Employee Severance and Other Personnel Benefits
Restructuring Reserve [Roll Forward]
Charges incurred through beginning of period48.6
Charges incurred during period3
Charges incurred through end of period51.6
RGGA Program | Other Costs
Restructuring Reserve [Roll Forward]
Charges incurred through beginning of period1.9
Charges incurred during period10.8
Charges incurred through end of period12.7
RGGA Program | Leases
Restructuring Reserve [Roll Forward]
Charges incurred through beginning of period12.6
Charges incurred during period2.6
Charges incurred through end of period15.2
RGGA Program | Other Related Charges
Restructuring Reserve [Roll Forward]
Charges incurred through beginning of period5.7
Charges incurred during period0.8
Charges incurred through end of period $ 6.5

RESTRUCTURING CHARGES - Restr_2

RESTRUCTURING CHARGES - Restructuring and Related Charges by Segment (Details) - USD ($) $ in Millions6 Months Ended
Jun. 30, 2021Dec. 31, 2020
Total Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Charges incurred during period $ 13.8
RGGA Program
Restructuring Cost and Reserve [Line Items]
Charges incurred during period17.2
Cumulative charges incurred86 $ 68.8
RGGA Program | Total Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Charges incurred during period13.8
Cumulative charges incurred64.3 $ 50.5
Operating segments | RGGA Program | Total Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Charges incurred during period13.8
Cumulative charges incurred64.3
Operating segments | Revlon | RGGA Program | Total Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Charges incurred during period3.9
Cumulative charges incurred24.6
Operating segments | Elizabeth Arden | RGGA Program | Total Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Charges incurred during period5.1
Cumulative charges incurred14.5
Operating segments | Portfolio | RGGA Program | Total Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Charges incurred during period2.3
Cumulative charges incurred15.9
Operating segments | Fragrance | RGGA Program | Total Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Charges incurred during period2.5
Cumulative charges incurred $ 9.3

RESTRUCTURING CHARGES - Restr_3

RESTRUCTURING CHARGES - Restructuring Reserve (Details) $ in Millions6 Months Ended
Jun. 30, 2021USD ($)
Total Restructuring Charges
Restructuring Reserve [Roll Forward]
Liability Balance at period start $ 13.8
Expense, Net13.8
Foreign Currency Translation0
Cash Utilized, Net(22.1)
Non-cash Utilized, Net0
Liability Balance at period end5.5
RGGA:
Restructuring Reserve [Roll Forward]
Expense, Net17.2
RGGA: | Total Restructuring Charges
Restructuring Reserve [Roll Forward]
Liability Balance at period start12.6
Expense, Net13.8
Foreign Currency Translation0
Cash Utilized, Net(21.8)
Non-cash Utilized, Net0
Liability Balance at period end4.6
RGGA: | Employee severance and other personnel benefits
Restructuring Reserve [Roll Forward]
Liability Balance at period start12.6
Expense, Net3
Foreign Currency Translation0
Cash Utilized, Net(11)
Non-cash Utilized, Net0
Liability Balance at period end4.6
RGGA: | Other Costs
Restructuring Reserve [Roll Forward]
Liability Balance at period start0
Expense, Net10.8
Foreign Currency Translation0
Cash Utilized, Net(10.8)
Non-cash Utilized, Net0
Liability Balance at period end0
Other immaterial actions: | Total Restructuring Charges
Restructuring Reserve [Roll Forward]
Liability Balance at period start1.2
Expense, Net0
Foreign Currency Translation0
Cash Utilized, Net(0.3)
Non-cash Utilized, Net0
Liability Balance at period end0.9
Other immaterial actions: | Employee severance and other personnel benefits
Restructuring Reserve [Roll Forward]
Liability Balance at period start1.2
Expense, Net0
Foreign Currency Translation0
Cash Utilized, Net(0.3)
Non-cash Utilized, Net0
Liability Balance at period end0.9
Other immaterial actions: | Other Costs
Restructuring Reserve [Roll Forward]
Liability Balance at period start0
Expense, Net0
Foreign Currency Translation0
Cash Utilized, Net0
Non-cash Utilized, Net0
Liability Balance at period end $ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods $ 315.8 $ 356.7
Raw materials and supplies103.9 97.1
Work-in-process22.2 8.8
Inventories $ 441.9 $ 462.6

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Property, Plant and Equipment (Details) - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Right-of-Use assets $ 80.7 $ 87
Property, plant and equipment and Right-of-Use assets, net321.6 352
Land and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net11.1 11.4
Building and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net45.8 48.3
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net90.7 98.7
Office furniture, fixtures and capitalized software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net68.3 76.2
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net19.6 21.3
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net $ 5.4 $ 9.1

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense $ 17.1 $ 23.9 $ 34.2 $ 40.9
Accumulated depreciation and amortization $ 549.1 $ 549.1 $ 528.9

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charge $ 0 $ 11,200,000 $ 0 $ 111,000,000
Finite-lived intangible assets impairment0 0 0 0
Indefinite-lived intangible assets impairment0 8,600,000 0 33,100,000
Amortization expense $ 8,600,000 $ 8,200,000 $ 17,000,000 $ 16,700,000

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS, NET - Changes in Goodwill by Segment (Details) $ in Millions6 Months Ended
Jun. 30, 2021USD ($)
Goodwill [Roll Forward]
Beginning Balance $ 563.7
Ending Balance563.3
Operating segments
Goodwill [Roll Forward]
Beginning Balance563.7
Foreign currency translation adjustment(0.4)
Ending Balance563.3
Cumulative goodwill impairment charges(166.2)
Operating segments | Revlon
Goodwill [Roll Forward]
Beginning Balance265.4
Foreign currency translation adjustment(0.1)
Ending Balance265.3
Operating segments | Portfolio
Goodwill [Roll Forward]
Beginning Balance87.9
Foreign currency translation adjustment(0.1)
Ending Balance87.8
Operating segments | Elizabeth Arden
Goodwill [Roll Forward]
Beginning Balance89.5
Foreign currency translation adjustment(0.1)
Ending Balance89.4
Operating segments | Fragrance
Goodwill [Roll Forward]
Beginning Balance120.9
Foreign currency translation adjustment(0.1)
Ending Balance $ 120.8

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS, NET - Summary of Intangible Assets (Details) - USD ($) $ in Millions6 Months Ended12 Months Ended
Jun. 30, 2021Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 577.3 $ 578.6
Accumulated Amortization(279.5)(263.7)
Impairment0 0
Net Carrying Amount297.8 314.9
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount147.2 149
Impairment(33.1)(33.1)
Net Carrying Amount114.1 115.9
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, gross carrying amount724.5 727.6
Accumulated Amortization(279.5)(263.7)
Total Intangibles Impairment(33.1)(33.1)
Intangible assets, net carrying amount411.9 430.8
Trade names
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount147.2 149
Impairment(33.1)(33.1)
Net Carrying Amount114.1 115.9
Trademarks and licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount272 272.8
Accumulated Amortization(136.2)(128.6)
Impairment0 0
Net Carrying Amount $ 135.8 $ 144.2
Weighted-Average Useful Life (in Years)12 years12 years
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization $ (136.2) $ (128.6)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount249.4 249.9
Accumulated Amortization(117.2)(110.7)
Impairment0 0
Net Carrying Amount $ 132.2 $ 139.2
Weighted-Average Useful Life (in Years)10 years11 years
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization $ (117.2) $ (110.7)
Patents and internally-developed intellectual property
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount23.6 23.6
Accumulated Amortization(16.5)(15.6)
Impairment0 0
Net Carrying Amount $ 7.1 $ 8
Weighted-Average Useful Life (in Years)5 years5 years
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization $ (16.5) $ (15.6)
Distribution rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount31 31
Accumulated Amortization(8.3)(7.5)
Impairment0 0
Net Carrying Amount $ 22.7 $ 23.5
Weighted-Average Useful Life (in Years)13 years14 years
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization $ (8.3) $ (7.5)
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount1.3 1.3
Accumulated Amortization(1.3)(1.3)
Impairment0 0
Net Carrying Amount $ 0 $ 0
Weighted-Average Useful Life (in Years)0 years0 years
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization $ (1.3) $ (1.3)

GOODWILL AND INTANGIBLE ASSET_6

GOODWILL AND INTANGIBLE ASSETS, NET - Estimated Future Amortization Expense (Details) - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2021 $ 16.6
202232.6
202330.9
202427.6
202526.4
Thereafter163.7
Net Carrying Amount $ 297.8 $ 314.9

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Components of Accrued Expenses and Other (Details) - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Schedule of Accrued Liabilities [Line Items]
Sales returns and allowances $ 68.6 $ 95.5
Advertising, marketing and promotional costs102 96.3
Taxes49.2 41.8
Compensation and related benefits49.1 50.1
Interest30.9 29.6
Professional services and insurance18.9 18.6
Short-term lease liability15.7 16.6
Freight and distribution costs14.7 9.5
Restructuring reserve5.5 13.8
Software3.2 3.1
Other46.1 46
Total403.9 420.9
Revlon Consumer Products Corporation
Schedule of Accrued Liabilities [Line Items]
Taxes61 44.8
Total $ 415.7 $ 423.2

DEBT - Components of Long-term

DEBT - Components of Long-term Debt (Details) - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt $ 3,429.1 $ 3,322.5
Less current portion(129.7)(217.5)
Long-term debt3,299.4 3,105
Short-term borrowings $ 0.8 $ 2.5
Weighted-average interest rate (as a percent)11.40%11.70%
Amended 2016 Revolving Credit Facility (Tranche A) due 2024
Debt Instrument [Line Items]
Long-term debt $ 100.4 $ 136.7
SISO Term Loan Facility due 2024
Debt Instrument [Line Items]
Long-term debt125.4 0
2021 Foreign Asset-Based Term Facility due 2024
Debt Instrument [Line Items]
Long-term debt70.1 0
2020 ABL FILO Term Loans due 2023
Debt Instrument [Line Items]
Long-term debt50 50
2020 Troubled-debt-restructuring: future interest
Debt Instrument [Line Items]
Long-term debt49.8 57.8
2020 BrandCo Term Loan Facility due 2025
Debt Instrument [Line Items]
Long-term debt1,736.3 1,719.8
2016 Term Loan Facility: 2016 Term Loan due 2023 and 2025
Debt Instrument [Line Items]
Long-term debt870.6 874.8
2018 Foreign Asset-Based Term Facility due 2021
Debt Instrument [Line Items]
Long-term debt $ 0 57.7
6.25% Senior Notes due 2024
Debt Instrument [Line Items]
Stated interest rate (as a percent)6.25%
Long-term debt $ 426.2 425.4
Spanish Government Loan due 2025
Debt Instrument [Line Items]
Long-term debt $ 0.3 $ 0.3

DEBT - Narrative (Details)

DEBT - Narrative (Details)May 07, 2021USD ($)May 06, 2021USD ($)Mar. 08, 2021USD ($)Mar. 02, 2021USD ($)Jun. 30, 2021USD ($)Jun. 30, 2020USD ($)Jun. 30, 2021USD ($)Jun. 30, 2020USD ($)Mar. 07, 2021USD ($)Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Selling, general and administrative expenses $ 279,400,000 $ 196,300,000 $ 539,900,000 $ 485,700,000
Amortization of debt issuance costs13,300,000 6,000,000 22,000,000 10,000,000
Held in escrow18,600,000 5,400,000 18,600,000 5,400,000
Revlon Consumer Products Corporation
Debt Instrument [Line Items]
Selling, general and administrative expenses277,700,000 194,400,000 537,200,000 481,800,000
Amortization of debt issuance costs13,300,000 6,000,000 22,000,000 10,000,000
Held in escrow18,600,000 $ 5,400,000 18,600,000 $ 5,400,000
2016 Revolving Credit Agreement | Revolving credit facility | Revlon Consumer Products Corporation
Debt Instrument [Line Items]
Covenant springing maturity, number of days prior to the maturity date91 days
Minimum excess available reserve requirement, fixed charge coverage ratio greater than 1.0 $ 20,000,000
Minimum excess available reserve requirement, fixed charge coverage ratio less than 1.00x30,000,000
Springing minimum fixed charge coverage ratio based on excess availability triggering event1
Springing minimum fixed charge cover ratio triggering event, excess availability threshold $ 27,500,000
Springing cash dominion requirement triggering event, excess availability threshold45,000,000
Tranche A Revolving Credit Facility | Revolving credit facility | Revlon Consumer Products Corporation
Debt Instrument [Line Items]
Maximum borrowing capacity270,000,000 $ 300,000,000 $ 300,000,000 270,000,000 270,000,000
Selling, general and administrative expenses800,000 800,000
Amortization of debt issuance costs4,700,000 4,700,000
Deferred financing cots incurred $ 2,100,000 4,200,000
Unamortized deferred financing costs $ 5,100,000
Increase in interest margin0.50%
Tranche A Revolving Credit Facility | Revolving credit facility | Revlon Consumer Products Corporation | Minimum
Debt Instrument [Line Items]
Basis spread on variable interest rate2.50%
Tranche A Revolving Credit Facility | Revolving credit facility | Revlon Consumer Products Corporation | Maximum
Debt Instrument [Line Items]
Basis spread on variable interest rate3.00%
Tranche A Revolving Credit Facility | Revolving credit facility | Revlon Consumer Products Corporation | LIBOR
Debt Instrument [Line Items]
Basis spread on variable interest rate3.75%
Variable rate floor0.50%1.75%
Tranche A Revolving Credit Facility | Revolving credit facility | Revlon Consumer Products Corporation | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable interest rate2.50%
Tranche A Revolving Credit Facility | Revolving credit facility | Revlon Consumer Products Corporation | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable interest rate3.00%
SISO Term Loan Facility | Revolving credit facility | Revlon Consumer Products Corporation
Debt Instrument [Line Items]
Deferred financing cots incurred $ 4,300,000
SISO Term Loan Facility | Secured debt | Revlon Consumer Products Corporation
Debt Instrument [Line Items]
Maximum borrowing capacity $ 130,000,000 $ 100,000,000 100,000,000 130,000,000 130,000,000
Selling, general and administrative expenses400,000 400,000
Amortization of debt issuance costs1,400,000 1,400,000
Deferred financing cots incurred $ 900,000
Unamortized deferred financing costs $ 4,000,000
Proceeds from long-term lines of credit $ 100,000,000
SISO Term Loan Facility | Secured debt | Revlon Consumer Products Corporation | LIBOR
Debt Instrument [Line Items]
Basis spread on variable interest rate5.75%
Variable rate floor1.75%
Amended 2016 Revolving Credit Facility due 2021, Tranche A | Revolving credit facility | Revlon Consumer Products Corporation
Debt Instrument [Line Items]
Maximum borrowing capacity $ 400,000,000
Unamortized deferred financing costs $ 800,000
2021 Foreign Asset-Based Term Facility | Secured debt | Revlon Consumer Products Corporation
Debt Instrument [Line Items]
Maximum borrowing capacity $ 75,000,000
Amortization of debt issuance costs0 1,000,000
Deferred financing cots incurred3,200,000
Held in escrow $ 7,500,000 $ 13,800,000 $ 13,800,000
Borrowing base calculation, percentage of eligible accounts receivable80.00%
Borrowing base calculation, percentage of eligible inventory65.00%
Borrowing base calculation, percentage of eligible real property45.00%
Prepayment premium, first year after the closing date3.00%
Prepayment premium, second year after the closing date2.00%
Prepayment premium, third year after the closing date and thereafter1.00%
Covenant, minimum cash and cash equivalents $ 3,500,000
Covenant, minimum cash and cash equivalents, business days prior to month end10 days
2021 Foreign Asset-Based Term Facility | Secured debt | Revlon Consumer Products Corporation | LIBOR
Debt Instrument [Line Items]
Basis spread on variable interest rate8.50%
Variable rate floor1.50%
5.75% Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)5.75%5.75%
5.75% Senior Notes | Revlon Consumer Products Corporation
Debt Instrument [Line Items]
Stated interest rate (as a percent)5.75%5.75%5.75%
2020 Troubled-debt-restructuring: future interest
Debt Instrument [Line Items]
Future interest payments included in restructured debt $ 57,800,000
Future interest amortization $ 4,300,000 $ 7,900,000

DEBT - Covenants (Details)

DEBT - Covenants (Details) - USD ($)Jun. 30, 2021May 07, 2021May 06, 2021Mar. 08, 2021
6.25% Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)6.25%
2016 Revolving Credit Agreement
Debt Instrument [Line Items]
Aggregate principal amount outstanding $ 282,100,000
Availability $ 53,500,000
Revlon Consumer Products Corporation | 6.25% Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)6.25%
Revlon Consumer Products Corporation | 2020 ABL FILO Term Loans
Debt Instrument [Line Items]
Commitment $ 50,000,000
Borrowing Base44,300,000
Aggregate principal amount outstanding50,000,000
Availability0
Reserve for shortfall of the borrowing base5,700,000
Revolving credit facility | Revlon Consumer Products Corporation | Tranche A Revolving Credit Facility
Debt Instrument [Line Items]
Commitment270,000,000 $ 270,000,000 $ 300,000,000 $ 300,000,000
Borrowing Base155,600,000
Aggregate principal amount outstanding102,100,000
Availability53,500,000
Secured debt | Revlon Consumer Products Corporation | SISO Term Loan Facility
Debt Instrument [Line Items]
Commitment130,000,000 $ 130,000,000 $ 100,000,000 $ 100,000,000
Borrowing Base130,000,000
Aggregate principal amount outstanding130,000,000
Availability $ 0

DEBT - Foreign Subsidiaries (De

DEBT - Foreign Subsidiaries (Details) - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Cash and cash equivalents $ 109.8 $ 97.1
Foreign Subsidiaries
Debt Instrument [Line Items]
Cash and cash equivalents $ 97.3

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Values of Financial Liabilities (Details) - USD ($)Jun. 30, 2021Dec. 31, 2020
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Financial assets required to be measured at fair value $ 0 $ 0
Financial liabilities required to be measured at fair value0 0
Liabilities:
Long-term debt, including current portion, Fair Value2,649,700,000 2,168,900,000
Long-term debt, including current portion, Carrying Value3,429,100,000 3,322,500,000
Level 1
Liabilities:
Long-term debt, including current portion, Fair Value0 0
Level 2
Liabilities:
Long-term debt, including current portion, Fair Value2,649,700,000 2,168,900,000
Level 3
Liabilities:
Long-term debt, including current portion, Fair Value $ 0 $ 0

FINANCIAL INSTRUMENTS - Narrati

FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in MillionsJun. 30, 2021Dec. 31, 2020
Standby letters of credit which support products corporations workers compensation, general liability and automobile insurance programs
Fair Value Measurements Of Financial Instruments [Line Items]
Standby and trade letters of credit for various corporate purposes $ 5.9 $ 5.3
Sublimit, letters of credit
Fair Value Measurements Of Financial Instruments [Line Items]
Standby and trade letters of credit for various corporate purposes $ 8.4 $ 7.8

PENSION AND POST-RETIREMENT B_3

PENSION AND POST-RETIREMENT BENEFITS - Components of Net Periodic Benefit Costs (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Net periodic benefit costs:
Total net periodic benefit costs $ 1 $ 1.5 $ 2.3 $ 2.7 $ 4
Pension Plans
Net periodic benefit costs:
Service cost0.4 0.4 0.7 0.8
Interest cost2.3 3.7 4.6 7.4
Expected return on plan assets(5)(5.6)(9.9)(11.4)
Amortization of actuarial loss3.2 2.9 6.6 5.6
Total net periodic benefit costs prior to allocation0.9 1.4 2 2.4
Portion allocated to Revlon Holdings(0.1)(0.1)(0.1)(0.1)
Total net periodic benefit costs0.8 1.3 1.9 2.3
Other Post-Retirement Benefit Plans
Net periodic benefit costs:
Service cost0 0 0 0
Interest cost0.1 0.1 0.1 0.2
Expected return on plan assets0 0 0 0
Amortization of actuarial loss0.1 0.1 0.3 0.2
Total net periodic benefit costs prior to allocation0.2 0.2 0.4 0.4
Portion allocated to Revlon Holdings0 0 0 0
Total net periodic benefit costs $ 0.2 $ 0.2 $ 0.4 $ 0.4

PENSION AND POST-RETIREMENT B_4

PENSION AND POST-RETIREMENT BENEFITS - Narrative (Details) $ in Millions3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2021USD ($)Jun. 30, 2020USD ($)Jun. 30, 2021USD ($)Jun. 30, 2020USD ($)Dec. 31, 2021USD ($)Dec. 31, 2020USD ($)plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net periodic benefit cost $ 1 $ 1.5 $ 2.3 $ 2.7 $ 4
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Aggregate employer contributions during 202121 21
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Aggregate employer contributions during 202124 24
Forecast
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net periodic benefit cost $ 5
Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net periodic benefit cost0.8 1.3 1.9 2.3
Employer contributions3.3 16.8
Pension Plans | Qualified Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions, expected deferral in 2020, CARES Act $ 11.8
Number of qualified defined benefit plans | plan2
Other Post-Retirement Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net periodic benefit cost0.2 $ 0.2 0.4 $ 0.4
Employer contributions $ 0.2 $ 0.4

PENSION AND POST-RETIREMENT B_5

PENSION AND POST-RETIREMENT BENEFITS - Classification of Net Periodic Pension (Income) Costs (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total net periodic benefit costs $ 1 $ 1.5 $ 2.3 $ 2.7 $ 4
Selling, general and administrative expense
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total net periodic benefit costs0.3 0.4 0.7 0.8
Miscellaneous, net
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total net periodic benefit costs $ 0.7 $ 1.1 $ 1.6 $ 1.9

STOCK COMPENSATION PLAN - Narra

STOCK COMPENSATION PLAN - Narrative (Details) $ in MillionsJun. 03, 2021sharesJun. 30, 2021USD ($)sharesMar. 31, 2021sharesJun. 30, 2020sharesMar. 31, 2020sharesJun. 30, 2021USD ($)sharesJun. 30, 2020USD ($)Dec. 31, 2019USD ($)installmentJun. 30, 2021USD ($)sharesJun. 30, 2021USD ($)sharesDec. 31, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation amortization | $ $ 6.5 $ 3.5
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated cost | $ $ 2
Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares reserved (in shares) | shares2,000,000
Shares reserved for issuance (in shares) | shares8,565,000 8,565,000 8,565,000 8,565,000
Shares remaining available for grants (in shares) | shares2,600,000 2,600,000 2,600,000 2,600,000
Revlon 2019 Transaction Incentive Program | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated cost | $ $ 1.8
Revlon 2019 Transaction Incentive Program | Time-Based Restricted Stock Units (RSU) Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares) | shares78,000
Revlon 2019 Transaction Incentive Program | Time-Based Restricted Stock Units (RSU) Awards | First Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage50.00%
Revlon 2019 Transaction Incentive Program | Time-Based Restricted Stock Units (RSU) Awards | Second Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage50.00%
Revlon 2019 Transaction Incentive Program, Tier 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash-based awards | $ $ 6.8
Number of installments | installment2
Cash-based awards granted, net of forfeitures | $ $ 1.5
Revlon 2019 Transaction Incentive Program, Tier 1 | Acquisition, Integration and Divestiture Costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash-based awards granted, amortization expense | $ $ 0.4 $ 1 $ 4.1
Revlon 2019 Transaction Incentive Program, Tier 1 | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, number of awards (in shares) | shares5,475 6,185 47,388
Accelerated cost | $ $ 0.2 $ 0.2
Revlon 2019 Transaction Incentive Program, Tier 1 | Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted and outstanding (in shares) | shares126,275 126,275 126,275 126,275
Revlon 2019 Transaction Incentive Program, Tier 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash-based awards | $ $ 2.5
Number of installments | installment1
LTIP Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares) | shares0 1,300,000
Accelerated vesting, number of awards (in shares) | shares6,283 7,234 56,876
LTIP Plan | Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares) | shares35,000 1,500,000
LTIP Plan | Time-Based RSUs | First Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage50.00%
LTIP Plan | Time-Based RSUs | Second Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage25.00%
LTIP Plan | Time-Based RSUs | Third Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage25.00%
LTIP Plan | Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation amortization | $ $ 0.1 $ 0.5
Deferred stock-based compensation | $ $ 12.1 $ 12.1 $ 12.1 $ 12.1
LTIP Plan | Time-Based Restricted Stock Units (RSU) Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted and outstanding (in shares) | shares1,874,900 1,874,900 1,874,900 1,874,900 732,200
Awards granted (in shares) | shares1,543,900
Total LTIP and TIP RSU's | Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation amortization | $ $ 3.3 $ 5.6
Deferred stock-based compensation | $ $ 18.1 $ 18.1 $ 18.1 $ 18.1
Total LTIP and TIP RSU's | Time-Based Restricted Stock Units (RSU) Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted and outstanding (in shares) | shares2,001,200 2,001,200 2,001,200 2,001,200 791,000

STOCK COMPENSATION PLAN - Activ

STOCK COMPENSATION PLAN - Activity Related to Time-based and Performance-based RSUs and the Grant Date Fair Value (Details) - $ / shares3 Months Ended6 Months Ended22 Months Ended
Jun. 30, 2021Jun. 30, 2020Mar. 31, 2020Jun. 30, 2021Jun. 30, 2021
Revlon 2019 Transaction Incentive Program | Time-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Awards granted (in shares)78,000
Revlon 2019 Transaction Incentive Program | 2019 | Time-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)58,800
Awards granted (in shares)80,100
Awards vested (in shares)(7,300)
Awards forfeited/canceled (in shares)(5,300)
Outstanding, end of period (in shares)126,300 126,300 126,300
Weighted Average Grant Date Fair Value Per RSU
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 15.95
Awards granted, weighted average grant date fair value (in dollars per share)13.11
Awards vested, weighted average grant date fair value (in dollars per share)15.75
Awards forfeited/canceled, weighted average grant date fair value (in dollars per share)15.67
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 14.07 $ 14.07 $ 14.07
Revlon 2019 Transaction Incentive Program, Tier 1 | Restricted Stock Units
Weighted Average Grant Date Fair Value Per RSU
Accelerated vesting, number of awards (in shares)5,475 6,185 47,388
LTIP Plan | Time-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)732,200
Awards granted (in shares)1,543,900
Awards vested (in shares)(339,100)
Awards forfeited/canceled (in shares)(62,100)
Outstanding, end of period (in shares)1,874,900 1,874,900 1,874,900
LTIP Plan | Performance-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)934,100
Awards granted (in shares)0
Awards vested (in shares)(38,500)
Awards forfeited/canceled (in shares)(265,600)
Outstanding, end of period (in shares)630,000 630,000 630,000
LTIP Plan | Restricted Stock Units
Restricted Stock Units
Awards granted (in shares)0 1,300,000
Weighted Average Grant Date Fair Value Per RSU
Accelerated vesting, number of awards (in shares)6,283 7,234 56,876
LTIP Plan | 2021 | Time-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Awards granted (in shares)1,543,900
Awards forfeited/canceled (in shares)(17,500)
Outstanding, end of period (in shares)1,526,400 1,526,400 1,526,400
Weighted Average Grant Date Fair Value Per RSU
Awards granted, weighted average grant date fair value (in dollars per share) $ 10.73
Awards forfeited/canceled, weighted average grant date fair value (in dollars per share)10.59
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 10.73 $ 10.73 $ 10.73
LTIP Plan | 2021 | Performance-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Awards granted (in shares)0
Awards forfeited/canceled (in shares)0
Outstanding, end of period (in shares)0 0 0
Weighted Average Grant Date Fair Value Per RSU
Awards granted, weighted average grant date fair value (in dollars per share) $ 0
Awards forfeited/canceled, weighted average grant date fair value (in dollars per share)0
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 0 $ 0 $ 0
LTIP Plan | 2020 | Time-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)496,500
Awards granted (in shares)0
Awards vested (in shares)(182,700)
Awards forfeited/canceled (in shares)(38,400)
Outstanding, end of period (in shares)275,400 275,400 275,400
Weighted Average Grant Date Fair Value Per RSU
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 14.96
Awards granted, weighted average grant date fair value (in dollars per share)0
Awards vested, weighted average grant date fair value (in dollars per share)14.96
Awards forfeited/canceled, weighted average grant date fair value (in dollars per share)14.96
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 14.96 $ 14.96 $ 14.96
LTIP Plan | 2020 | Performance-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)462,900
Awards granted (in shares)0
Awards vested (in shares)0
Awards forfeited/canceled (in shares)(53,800)
Outstanding, end of period (in shares)409,100 409,100 409,100
Weighted Average Grant Date Fair Value Per RSU
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 14.96
Awards granted, weighted average grant date fair value (in dollars per share)0
Awards vested, weighted average grant date fair value (in dollars per share)0
Awards forfeited/canceled, weighted average grant date fair value (in dollars per share)14.96
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 14.96 $ 14.96 $ 14.96
LTIP Plan | 2019 | Time-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)169,300
Awards granted (in shares)0
Awards vested (in shares)(90,500)
Awards forfeited/canceled (in shares)(5,700)
Outstanding, end of period (in shares)73,100 73,100 73,100
Weighted Average Grant Date Fair Value Per RSU
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 22.55
Awards granted, weighted average grant date fair value (in dollars per share)0
Awards vested, weighted average grant date fair value (in dollars per share)22.55
Awards forfeited/canceled, weighted average grant date fair value (in dollars per share)22.55
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 22.55 $ 22.55 $ 22.55
LTIP Plan | 2019 | Performance-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)255,300
Awards granted (in shares)0
Awards vested (in shares)0
Awards forfeited/canceled (in shares)(34,400)
Outstanding, end of period (in shares)220,900 220,900 220,900
Weighted Average Grant Date Fair Value Per RSU
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 22.55
Awards granted, weighted average grant date fair value (in dollars per share)0
Awards vested, weighted average grant date fair value (in dollars per share)0
Awards forfeited/canceled, weighted average grant date fair value (in dollars per share)22.55
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 22.55 $ 22.55 $ 22.55
LTIP Plan | 2018 | Time-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)66,400
Awards granted (in shares)0
Awards vested (in shares)(65,900)
Awards forfeited/canceled (in shares)(500)
Outstanding, end of period (in shares)0 0 0
Weighted Average Grant Date Fair Value Per RSU
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 19.40
Awards granted, weighted average grant date fair value (in dollars per share)0
Awards vested, weighted average grant date fair value (in dollars per share)19.42
Awards forfeited/canceled, weighted average grant date fair value (in dollars per share)16.80
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 0 $ 0 $ 0
LTIP Plan | 2018 | Performance-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)215,900
Awards granted (in shares)0
Awards vested (in shares)(38,500)
Awards forfeited/canceled (in shares)(177,400)
Outstanding, end of period (in shares)0 0 0
Weighted Average Grant Date Fair Value Per RSU
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 19.42
Awards granted, weighted average grant date fair value (in dollars per share)0
Awards vested, weighted average grant date fair value (in dollars per share)19.44
Awards forfeited/canceled, weighted average grant date fair value (in dollars per share)19.42
Awards outstanding, weighted average grant date fair value (in dollars per share) $ 0 $ 0 $ 0
Total LTIP and TIP RSU's | Time-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)791,000
Outstanding, end of period (in shares)2,001,200 2,001,200 2,001,200
Total LTIP and TIP RSU's | Performance-Based Restricted Stock Units (RSU) Awards
Restricted Stock Units
Outstanding, beginning of period (in shares)934,100
Outstanding, end of period (in shares)630,000 630,000 630,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Income Tax Disclosure [Line Items]
Provision for (benefit from) income taxes $ 7.2 $ (9.9) $ 18.4 $ (47.1)
Increase in provision from income taxes17.1 65.5
Revlon Consumer Products Corporation
Income Tax Disclosure [Line Items]
Provision for (benefit from) income taxes7.3 $ (9.6)18.4 $ (46.5)
Increase in provision from income taxes $ 16.9 $ 64.9

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Roll-forward of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Mar. 31, 2021Jun. 30, 2020Mar. 31, 2020Jun. 30, 2021Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance $ (1,958.7) $ (1,862) $ (1,435.8) $ (1,221.2) $ (1,862) $ (1,221.2)
Foreign currency translation adjustment, net of tax(0.5)10.3 (5.4)5.1
Amortization of pension related costs, net of tax[1],[2]3.5 4 7 6.5
Other comprehensive loss, net3 [3](1.4)[3]14.3 [3](2.7)[3]1.6 11.6
Ending balance(2,020)(1,958.7)(1,548.5)(1,435.8)(2,020)(1,548.5)
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance(279.3)(277.9)(250.1)(247.4)(277.9)(247.4)
Other comprehensive loss, net[3]3 (1.4)14.3 (2.7)
Ending balance(276.3)(279.3) $ (235.8) $ (250.1)(276.3) $ (235.8)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance(17.1)(17.1)
Foreign currency translation adjustment, net of tax(5.4)
Other comprehensive loss, net(5.4)
Ending balance(22.5)(22.5)
Actuarial (Loss) Gain on Post-retirement Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance(260.5)(260.5)
Amortization of pension related costs, net of tax7
Other comprehensive loss, net7
Ending balance(253.5)(253.5)
Other
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance $ (0.3)(0.3)
Other comprehensive loss, net0
Ending balance $ (0.3) $ (0.3)
[1]Net of tax benefit of nil and $1.5 million for the three months ended
[2]This amount is included in the computation of net periodic benefit costs (income). See Note 10, "Pension and Post-Retirement Benefits," for additional information regarding net periodic benefit costs (income).
[3]See Note 13, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2021 and 2020, respectively.

SEGMENT DATA AND RELATED INFO_3

SEGMENT DATA AND RELATED INFORMATION - Narrative (Details)6 Months Ended
Jun. 30, 2021reporting_unitcountrybrand_team
Segment Reporting Information [Line Items]
Number of reporting units | reporting_unit4
Number of global brand teams | brand_team4
International
Segment Reporting Information [Line Items]
Number of countries in which entity operates | country25

SEGMENT DATA AND RELATED INFO_4

SEGMENT DATA AND RELATED INFORMATION - Net Sales and Segment Profit (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Segment Reporting Information [Line Items]
Net sales $ 497.4 $ 347.6 $ 942.4 $ 800.6
Segment profit14.5 (58.8)1.8 (245)
Depreciation and amortization65.6 73.2
Non-Operating items:
Acquisition, integration and divestiture costs0.6 1.2 1.2 3.3
(Gain) loss on divested assets(1.8)(0.2)(1.8)0.6
Impairment charges0 19.8 0 144.1
Operating income (loss)14.5 (58.8)1.8 (245)
Interest Expense61.9 60.9 120.8 109.3
Amortization of debt issuance costs13.3 6 22 10
Gain on early extinguishment of debt0 (11.9)0 (11.9)
Foreign currency (gains) losses, net(1.7)2.3 1.6 18.9
Miscellaneous, net1.5 20.6 2.7 16.5
(Loss) income from operations before income taxes(60.5)(136.7)(145.3)(387.8)
Operating segments
Segment Reporting Information [Line Items]
Net sales497.4 347.6 942.4 800.6
Segment profit63.9 45.4 102.1 73.8
Non-Operating items:
Operating income (loss)63.9 45.4 102.1 73.8
Segment reconciling items
Segment Reporting Information [Line Items]
Depreciation and amortization32.3 36.4 65.6 73.2
Non-cash stock compensation expense3.4 1.1 6.5 3.5
Non-Operating items:
Restructuring and related charges9.9 22.3 17.2 56.7
Acquisition, integration and divestiture costs0.6 1.2 1.2 3.3
(Gain) loss on divested assets(1.8)(0.2)(1.8)0.6
Financial control remediation and sustainability actions and related charges0.2 5.7 0.4 7.8
Excessive coupon redemptions0 0 0 4.2
COVID-19 charges0 17.9 6.2 25.4
Capital structure and related charges4.8 0 5 0
Impairment charges0 19.8 0 144.1
Revlon
Segment Reporting Information [Line Items]
Net sales186.8 135 348.8 316.8
Revlon | Operating segments
Segment Reporting Information [Line Items]
Net sales186.8 135 348.8 316.8
Segment profit21.2 12.3 29.2 27.9
Non-Operating items:
Operating income (loss)21.2 12.3 29.2 27.9
Elizabeth Arden
Segment Reporting Information [Line Items]
Net sales124.7 80.9 236.9 176.1
Elizabeth Arden | Operating segments
Segment Reporting Information [Line Items]
Net sales124.7 80.9 236.9 176.1
Segment profit11.6 10.8 20.8 15
Non-Operating items:
Operating income (loss)11.6 10.8 20.8 15
Portfolio
Segment Reporting Information [Line Items]
Net sales98.7 88.5 194.7 198.5
Portfolio | Operating segments
Segment Reporting Information [Line Items]
Net sales98.7 88.5 194.7 198.5
Segment profit11.1 14.5 24.2 21.7
Non-Operating items:
Operating income (loss)11.1 14.5 24.2 21.7
Fragrance
Segment Reporting Information [Line Items]
Net sales87.2 43.2 162 109.2
Fragrance | Operating segments
Segment Reporting Information [Line Items]
Net sales87.2 43.2 162 109.2
Segment profit20 7.8 27.9 9.2
Non-Operating items:
Operating income (loss)20 7.8 27.9 9.2
Revlon Consumer Products Corporation
Segment Reporting Information [Line Items]
Net sales497.4 347.6 942.4 800.6
Segment profit16.2 (56.9)4.5 (241.1)
Depreciation and amortization32.3 36.4 65.6 73.2
Non-cash stock compensation expense3.4 1.1 6.5 3.5
Non-Operating items:
Acquisition, integration and divestiture costs0.6 1.2 1.2 3.3
(Gain) loss on divested assets(1.8)(0.2)(1.8)0.6
Impairment charges0 19.8 0 144.1
Operating income (loss)16.2 (56.9)4.5 (241.1)
Interest Expense61.9 60.9 120.8 109.3
Amortization of debt issuance costs13.3 6 22 10
Gain on early extinguishment of debt0 (11.9)0 (11.9)
Foreign currency (gains) losses, net(1.7)2.3 1.6 18.9
Miscellaneous, net1.5 20.6 2.7 16.5
(Loss) income from operations before income taxes(58.8)(134.8)(142.6)(383.9)
Revlon Consumer Products Corporation | Operating segments
Segment Reporting Information [Line Items]
Net sales497.4 347.6 942.4 800.6
Segment profit65.6 47.3 104.8 77.7
Non-Operating items:
Operating income (loss)65.6 47.3 104.8 77.7
Revlon Consumer Products Corporation | Segment reconciling items
Non-Operating items:
Restructuring and related charges9.9 22.3 17.2 56.7
Acquisition, integration and divestiture costs0.6 1.2 1.2 3.3
(Gain) loss on divested assets(1.8)(0.2)(1.8)0.6
Financial control remediation and sustainability actions and related charges0.2 5.7 0.4 7.8
Excessive coupon redemptions0 0 0 4.2
COVID-19 charges0 17.9 6.2 25.4
Capital structure and related charges4.8 0 5 0
Impairment charges0 19.8 0 144.1
Revlon Consumer Products Corporation | Revlon | Operating segments
Segment Reporting Information [Line Items]
Net sales186.8 135 348.8 316.8
Segment profit21.8 13 30.2 29.4
Non-Operating items:
Operating income (loss)21.8 13 30.2 29.4
Revlon Consumer Products Corporation | Elizabeth Arden | Operating segments
Segment Reporting Information [Line Items]
Net sales124.7 80.9 236.9 176.1
Segment profit11.9 11.3 21.4 15.9
Non-Operating items:
Operating income (loss)11.9 11.3 21.4 15.9
Revlon Consumer Products Corporation | Portfolio | Operating segments
Segment Reporting Information [Line Items]
Net sales98.7 88.5 194.7 198.5
Segment profit11.6 15 24.8 22.7
Non-Operating items:
Operating income (loss)11.6 15 24.8 22.7
Revlon Consumer Products Corporation | Fragrance | Operating segments
Segment Reporting Information [Line Items]
Net sales87.2 43.2 162 109.2
Segment profit20.3 8 28.4 9.7
Non-Operating items:
Operating income (loss) $ 20.3 $ 8 $ 28.4 $ 9.7

SEGMENT DATA AND RELATED INFO_5

SEGMENT DATA AND RELATED INFORMATION - Schedule of Net Sales and Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales $ 497.4 $ 347.6 $ 942.4 $ 800.6
Long-lived assets1,393.8 1,393.8 $ 1,455.6
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales243.9 176.9 470.1 410.4
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales118.4 79.7 222.5 189.8
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales84.9 58.6 151.2 120.3
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales23.6 13.9 41.7 34.4
Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales26.6 18.5 56.9 45.7
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets $ 1,152.5 $ 1,152.5 $ 1,194.9
Percentage of long lived assets by geographic location83.00%83.00%82.00%
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets $ 241.3 $ 241.3 $ 260.7
Percentage of long lived assets by geographic location17.00%17.00%18.00%
Revlon
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales $ 186.8 135 $ 348.8 316.8
Revlon | North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales99.5 80.1 182.5 179.2
Revlon | EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales44 26.5 81.6 63.8
Revlon | Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales11.6 6.8 22.6 21.5
Revlon | Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales15.1 10 26.5 24
Revlon | Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales16.6 11.6 35.6 28.3
Elizabeth Arden
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales124.7 80.9 236.9 176.1
Elizabeth Arden | North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales20.2 15 48.6 36.4
Elizabeth Arden | EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales29.5 13.7 55.5 39.6
Elizabeth Arden | Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales68.2 49.1 119.8 92.2
Elizabeth Arden | Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales2 0.2 3.3 1
Elizabeth Arden | Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales4.8 2.9 9.7 6.9
Portfolio
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales98.7 88.5 194.7 198.5
Portfolio | North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales63.2 52.1 126.7 122.9
Portfolio | EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales27 30.2 51.9 60.8
Portfolio | Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales1.2 0.7 1.9 1.2
Portfolio | Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales4.3 3.4 7.4 8.3
Portfolio | Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales3 2.1 6.8 5.3
Fragrance
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales87.2 43.2 162 109.2
Fragrance | North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales61 29.7 112.3 71.9
Fragrance | EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales17.9 9.3 33.5 25.6
Fragrance | Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales3.9 2 6.9 5.4
Fragrance | Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales2.2 0.3 4.5 1.1
Fragrance | Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales $ 2.2 $ 1.9 $ 4.8 $ 5.2

SEGMENT DATA AND RELATED INFO_6

SEGMENT DATA AND RELATED INFORMATION - Schedule of Net Sales by Classes of Similar Products (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Revenue from External Customer [Line Items]
Net sales $ 497.4 $ 347.6 $ 942.4 $ 800.6
Color cosmetics
Revenue from External Customer [Line Items]
Net sales $ 130.3 $ 70.6 $ 243.7 $ 200.6
Percentage of net sales by classes of similar products26.00%20.00%26.00%25.00%
Fragrance
Revenue from External Customer [Line Items]
Net sales $ 127.9 $ 64 $ 235.3 $ 158.9
Percentage of net sales by classes of similar products26.00%18.00%25.00%20.00%
Hair care
Revenue from External Customer [Line Items]
Net sales $ 117.7 $ 105.4 $ 227.4 $ 222.1
Percentage of net sales by classes of similar products24.00%30.00%24.00%28.00%
Beauty care
Revenue from External Customer [Line Items]
Net sales $ 41.4 $ 45.4 $ 79.2 $ 91.5
Percentage of net sales by classes of similar products8.00%13.00%8.00%11.00%
Skin care
Revenue from External Customer [Line Items]
Net sales $ 80.1 $ 62.2 $ 156.8 $ 127.5
Percentage of net sales by classes of similar products16.00%19.00%17.00%16.00%

REVLON, INC. BASIC AND DILUTE_3

REVLON, INC. BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE - Components of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Mar. 31, 2021Jun. 30, 2020Mar. 31, 2020Jun. 30, 2021Jun. 30, 2020
Numerator:
Net loss $ (67.7) $ (96) $ (126.8) $ (213.9) $ (163.7) $ (340.7)
Denominator:
Weighted-average common shares outstanding - Basic (in shares)54,015,794 53,471,004 53,835,622 53,319,228
Effect of dilutive restricted stock and RSUs (in shares)0 0 0 0
Weighted-average common shares outstanding - Diluted (in shares)54,015,794 53,471,004 53,835,622 53,319,228
Basic and Diluted (loss) earnings per common share:
Basic net loss per common share (in dollars per share) $ (1.25) $ (2.37) $ (3.04) $ (6.39)
Diluted net loss per common share (in dollars per share) $ (1.25) $ (2.37) $ (3.04) $ (6.39)
Restricted Stock and Restricted Stock Units
Basic and Diluted (loss) earnings per common share:
Unvested restricted stock and RSUs under the Stock Plan (in shares)667,978 0 504,499 56,058

CONTINGENCIES (Details)

CONTINGENCIES (Details) $ in MillionsFeb. 16, 2021USD ($)
Pending litigation
Gain Contingencies [Line Items]
Damages sought $ 504

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)1 Months Ended6 Months Ended12 Months Ended
Oct. 31, 2013Dec. 31, 2021Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020Dec. 31, 2009Jan. 31, 2007Mar. 31, 2006
Related Party Transaction [Line Items]
Reimbursement Agreements termination notice period90 days
Conversion ratio, outstanding principal amount per share of common stock issued (in dollars per share) $ 5.21
Number of days demand registration may be postponed30 days
Products Corporation
Related Party Transaction [Line Items]
Percentage of voting capital stock66.00%
Registration Rights Agreement | 2003 Equity Rights Offering
Related Party Transaction [Line Items]
Equity right offering value $ 50,000,000
Registration Rights Agreement | 2006 Equity Rights Offering
Related Party Transaction [Line Items]
Equity right offering value $ 110,000,000
Registration Rights Agreement | 2007 Equity Rights Offering
Related Party Transaction [Line Items]
Equity right offering value $ 100,000,000
Class A Common Stock
Related Party Transaction [Line Items]
Shares converted in Offering3,125,000 9,336,905
Percentage ownership of outstanding common stock86.20%
MacAndrews & Forbes | Reimbursements
Related Party Transaction [Line Items]
Payments to related party $ 5,300,000
Related party income $ 300,000 100,000
Receivable from related party $ 100,000 100,000
MacAndrews & Forbes | Reimbursements | Forecast
Related Party Transaction [Line Items]
Payments to related party $ 1,400,000
Majority Shareholder | Related party expense, other advertising coupon redemption and raw material supply
Related Party Transaction [Line Items]
Payments to related party200,000 400,000
Related party expenses5,600,000 $ 14,200,000
Payable to related party300,000 300,000
Majority Shareholder | Related party expense, coupon redemption services
Related Party Transaction [Line Items]
Payable to related party $ 200,000 $ 600,000

PRODUCTS CORPORATION AND SUBS_3

PRODUCTS CORPORATION AND SUBSIDIARIES GUARANTOR FINANCIAL INFORMATION - Narrative (Details) - 6.25% Senior NotesJun. 30, 2021
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (as a percent)6.25%
Revlon Consumer Products Corporation
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (as a percent)6.25%

PRODUCTS CORPORATION AND SUBS_4

PRODUCTS CORPORATION AND SUBSIDIARIES GUARANTOR FINANCIAL INFORMATION - Balance Sheet (Details) - USD ($) $ in MillionsJun. 30, 2021Mar. 31, 2021Dec. 31, 2020Jun. 30, 2020Mar. 31, 2020Dec. 31, 2019
ASSETS
Cash and cash equivalents $ 109.8 $ 97.1
Trade receivables, less allowances for doubtful accounts314.3 352.3
Inventories, net441.9 462.6
Property, plant and equipment, net321.6 352
Deferred income taxes23.8 25.7
Goodwill563.3 563.7
Intangible assets, net411.9 430.8
Other assets97 109.1
Total assets2,418.8 2,527.7
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Short-term borrowings0.8 2.5
Current portion of long-term debt129.7 217.5
Accounts payable197 203.3
Accrued expenses and other current liabilities403.9 420.9
Long-term debt3,299.4 3,105
Stockholder’s (deficiency) equity(2,020) $ (1,958.7)(1,862) $ (1,548.5) $ (1,435.8) $ (1,221.2)
Total liabilities and stockholder’s (deficiency) equity2,418.8 2,527.7
Revlon Consumer Products Corporation
ASSETS
Cash and cash equivalents109.8 97.1
Trade receivables, less allowances for doubtful accounts314.3 352.3
Inventories, net441.9 462.6
Prepaid expenses and other306.2 300.5
Intercompany receivables0 0
Investment in subsidiaries0 0
Property, plant and equipment, net321.6 352
Deferred income taxes32.6 34.1
Goodwill563.3 563.7
Intangible assets, net411.9 430.8
Other assets97 109.1
Total assets2,598.6 2,702.2
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Short-term borrowings0.8 2.5
Current portion of long-term debt129.7 217.5
Accounts payable197 203.3
Accrued expenses and other current liabilities415.7 423.2
Intercompany payables0 0
Long-term debt3,299.4 3,105
Other long-term liabilities411.9 453.7
Total liabilities4,454.5 4,405.2
Stockholder’s (deficiency) equity(1,855.9) $ (1,796.2)(1,703) $ (1,411.7) $ (1,301.9) $ (1,089.4)
Total liabilities and stockholder’s (deficiency) equity2,598.6 2,702.2
Revlon Consumer Products Corporation | Eliminations
ASSETS
Cash and cash equivalents0 0
Trade receivables, less allowances for doubtful accounts0 0
Inventories, net0 0
Prepaid expenses and other0 0
Intercompany receivables(8,316.9)(7,755.9)
Investment in subsidiaries(1,781.6)(1,655.9)
Property, plant and equipment, net0 0
Deferred income taxes0 0
Goodwill0 0
Intangible assets, net0 0
Other assets0 0
Total assets(10,098.5)(9,411.8)
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Short-term borrowings0 0
Current portion of long-term debt0 0
Accounts payable0 0
Accrued expenses and other current liabilities0 0
Intercompany payables(8,316.7)(7,755.7)
Long-term debt0 0
Other long-term liabilities0 0
Total liabilities(8,316.7)(7,755.7)
Stockholder’s (deficiency) equity(1,781.8)(1,656.1)
Total liabilities and stockholder’s (deficiency) equity(10,098.5)(9,411.8)
Revlon Consumer Products Corporation | Products Corporation | Reportable Legal Entities
ASSETS
Cash and cash equivalents12 5.5
Trade receivables, less allowances for doubtful accounts77 86
Inventories, net109.5 121.3
Prepaid expenses and other212.7 220.6
Intercompany receivables3,782.7 3,592.2
Investment in subsidiaries1,765 1,653.6
Property, plant and equipment, net165.8 178.5
Deferred income taxes0 0
Goodwill48.9 48.9
Intangible assets, net9.5 10
Other assets59.7 67.9
Total assets6,242.8 5,984.5
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Short-term borrowings0 0
Current portion of long-term debt129.6 159.2
Accounts payable76.2 72.5
Accrued expenses and other current liabilities117.9 144.1
Intercompany payables4,231.6 3,897.1
Long-term debt3,226.5 3,104.7
Other long-term liabilities314.4 377.3
Total liabilities8,096.2 7,754.9
Stockholder’s (deficiency) equity(1,853.4)(1,770.4)
Total liabilities and stockholder’s (deficiency) equity6,242.8 5,984.5
Revlon Consumer Products Corporation | Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Cash and cash equivalents2.4 2.5
Trade receivables, less allowances for doubtful accounts86.6 95.7
Inventories, net154.7 147.7
Prepaid expenses and other27.2 24.6
Intercompany receivables3,842.6 3,549.6
Investment in subsidiaries16.6 2.3
Property, plant and equipment, net65.7 72.1
Deferred income taxes12.3 10.6
Goodwill264 264
Intangible assets, net178.9 187.8
Other assets8.4 9.3
Total assets4,659.4 4,366.2
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Short-term borrowings0 0
Current portion of long-term debt0 0
Accounts payable41.6 48
Accrued expenses and other current liabilities76.1 61.7
Intercompany payables3,422.6 3,162
Long-term debt0 0
Other long-term liabilities101.6 33.8
Total liabilities3,641.9 3,305.5
Stockholder’s (deficiency) equity1,017.5 1,060.7
Total liabilities and stockholder’s (deficiency) equity4,659.4 4,366.2
Revlon Consumer Products Corporation | Non-Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Cash and cash equivalents95.4 89.1
Trade receivables, less allowances for doubtful accounts150.7 170.6
Inventories, net177.7 193.6
Prepaid expenses and other66.3 55.3
Intercompany receivables691.6 614.1
Investment in subsidiaries0 0
Property, plant and equipment, net90.1 101.4
Deferred income taxes20.3 23.5
Goodwill250.4 250.8
Intangible assets, net223.5 233
Other assets28.9 31.9
Total assets1,794.9 1,763.3
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Short-term borrowings0.8 2.5
Current portion of long-term debt0.1 58.3
Accounts payable79.2 82.8
Accrued expenses and other current liabilities221.7 217.4
Intercompany payables662.5 696.6
Long-term debt72.9 0.3
Other long-term liabilities(4.1)42.6
Total liabilities1,033.1 1,100.5
Stockholder’s (deficiency) equity761.8 662.8
Total liabilities and stockholder’s (deficiency) equity $ 1,794.9 $ 1,763.3

PRODUCTS CORPORATION AND SUBS_5

PRODUCTS CORPORATION AND SUBSIDIARIES GUARANTOR FINANCIAL INFORMATION - Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Mar. 31, 2021Jun. 30, 2020Mar. 31, 2020Jun. 30, 2021Jun. 30, 2020
Condensed Income Statements, Captions [Line Items]
Net sales $ 497.4 $ 347.6 $ 942.4 $ 800.6
Cost of sales196.3 168.6 387.5 366.4
Gross profit301.1 179 554.9 434.2
Selling, general and administrative expenses279.4 196.3 539.9 485.7
Acquisition, integration and divestiture costs0.6 1.2 1.2 3.3
Restructuring charges and other, net8.4 20.7 13.8 45.5
Impairment charges0 19.8 0 144.1
(Gain) loss on divested assets(1.8)(0.2)(1.8)0.6
Operating income (loss)14.5 (58.8)1.8 (245)
Other (income) expense:
Interest Expense61.9 60.9 120.8 109.3
Amortization of debt issuance costs13.3 6 22 10
Gain on early extinguishment of debt0 (11.9)0 (11.9)
Foreign currency (gains) losses, net(1.7)2.3 1.6 18.9
Miscellaneous, net1.5 20.6 2.7 16.5
Other expense (income), net75 77.9 147.1 142.8
(Loss) income from operations before income taxes(60.5)(136.7)(145.3)(387.8)
Provision for (benefit from) for income taxes7.2 (9.9)18.4 (47.1)
Net (loss) income(67.7) $ (96)(126.8) $ (213.9)(163.7)(340.7)
Other comprehensive (loss) income3 [1](1.4)[1]14.3 [1](2.7)[1]1.6 11.6
Total comprehensive (loss) income(64.7)(112.5)(162.1)(329.1)
Revlon Consumer Products Corporation
Condensed Income Statements, Captions [Line Items]
Net sales497.4 347.6 942.4 800.6
Cost of sales196.3 168.6 387.5 366.4
Gross profit301.1 179 554.9 434.2
Selling, general and administrative expenses277.7 194.4 537.2 481.8
Acquisition, integration and divestiture costs0.6 1.2 1.2 3.3
Restructuring charges and other, net8.4 20.7 13.8 45.5
Impairment charges0 19.8 0 144.1
(Gain) loss on divested assets(1.8)(0.2)(1.8)0.6
Operating income (loss)16.2 (56.9)4.5 (241.1)
Other (income) expense:
Intercompany interest, net0 0 0 0
Interest Expense61.9 60.9 120.8 109.3
Amortization of debt issuance costs13.3 6 22 10
Gain on early extinguishment of debt0 (11.9)0 (11.9)
Foreign currency (gains) losses, net(1.7)2.3 1.6 18.9
Miscellaneous, net1.5 20.6 2.7 16.5
Other expense (income), net75 77.9 147.1 142.8
(Loss) income from operations before income taxes(58.8)(134.8)(142.6)(383.9)
Provision for (benefit from) for income taxes7.3 (9.6)18.4 (46.5)
(Loss) income from continuing operations, net of taxes(66.1)(125.2)(161)(337.4)
Equity in income (loss) of subsidiaries0 0 0 0
Net (loss) income(66.1)(94.9)(125.2)(212.2)(161)(337.4)
Other comprehensive (loss) income3 [2] $ (1.4)[2]14.3 [2] $ (2.7)[2]1.6 11.6
Total comprehensive (loss) income(63.1)(110.9)(159.4)(325.8)
Revlon Consumer Products Corporation | Eliminations
Condensed Income Statements, Captions [Line Items]
Net sales0 0 0 (0.1)
Cost of sales0 0 0 (0.1)
Gross profit0 0 0 0
Selling, general and administrative expenses0 0 0 0
Acquisition, integration and divestiture costs0 0 0 0
Restructuring charges and other, net0 0 0 0
Impairment charges0 0 0
(Gain) loss on divested assets0 0 0 0
Operating income (loss)0 0 0 0
Other (income) expense:
Intercompany interest, net0 0 0 0
Interest Expense0 0 0 0
Amortization of debt issuance costs0 0 0 0
Gain on early extinguishment of debt0 0 0
Foreign currency (gains) losses, net0 0 0 0
Miscellaneous, net0 0 0 0
Other expense (income), net0 0 0 0
(Loss) income from operations before income taxes0 0 0 0
Provision for (benefit from) for income taxes0 0 0 0
(Loss) income from continuing operations, net of taxes0 0 0 0
Equity in income (loss) of subsidiaries(70.4)2.2 (119.7)56.2
Net (loss) income(70.4)2.2 (119.7)56.2
Other comprehensive (loss) income3.4 (19.1)(6.7)(16.8)
Total comprehensive (loss) income(67)(16.9)(126.4)39.4
Revlon Consumer Products Corporation | Products Corporation | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales112.4 93.8 208.5 210.2
Cost of sales51.1 54.4 98.7 112.9
Gross profit61.3 39.4 109.8 97.3
Selling, general and administrative expenses90.6 58.8 188.8 163.2
Acquisition, integration and divestiture costs0.6 2 1.1 3.2
Restructuring charges and other, net5.6 17.1 6.8 40.7
Impairment charges0 19.8 144.1
(Gain) loss on divested assets(1.8)(0.2)(1.8)0.6
Operating income (loss)(33.7)(58.1)(85.1)(254.5)
Other (income) expense:
Intercompany interest, net(0.5)(0.3)(0.8)(3)
Interest Expense61.9 59.2 119.7 105.7
Amortization of debt issuance costs13.3 6 22 10
Gain on early extinguishment of debt0 (11.9)(11.9)
Foreign currency (gains) losses, net0.4 6.2 (0.2)0.6
Miscellaneous, net22.2 24.9 36.7 0.9
Other expense (income), net97.3 84.1 177.4 102.3
(Loss) income from operations before income taxes(131)(142.2)(262.5)(356.8)
Provision for (benefit from) for income taxes(0.7)(35.8)0 (52.1)
(Loss) income from continuing operations, net of taxes(130.3)(106.4)(262.5)(304.7)
Equity in income (loss) of subsidiaries66.7 4.7 110 (29.3)
Net (loss) income(63.6)(101.7)(152.5)(334)
Other comprehensive (loss) income2.8 14.3 1.6 11.6
Total comprehensive (loss) income(60.8)(87.4)(150.9)(322.4)
Revlon Consumer Products Corporation | Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales131.2 78.2 249.4 190.7
Cost of sales54.4 43.5 110.4 97.9
Gross profit76.8 34.7 139 92.8
Selling, general and administrative expenses60.6 45.2 113 116.1
Acquisition, integration and divestiture costs0 (0.5)0 0
Restructuring charges and other, net0.7 3 2.2 4.3
Impairment charges0 0 0
(Gain) loss on divested assets0 0 0 0
Operating income (loss)15.5 (13)23.8 (27.6)
Other (income) expense:
Intercompany interest, net0.6 0.6 1.2 1.1
Interest Expense0 0 0 0
Amortization of debt issuance costs0 0 0 0
Gain on early extinguishment of debt0 0 0
Foreign currency (gains) losses, net0.8 0.5 (0.9)2.4
Miscellaneous, net(14.5)(6.9)(11.8)(16.1)
Other expense (income), net(13.1)(5.8)(11.5)(12.6)
(Loss) income from operations before income taxes28.6 (7.2)35.3 (15)
Provision for (benefit from) for income taxes1.5 21.6 1.4 1.4
(Loss) income from continuing operations, net of taxes27.1 (28.8)33.9 (16.4)
Equity in income (loss) of subsidiaries3.7 (6.9)9.7 (26.9)
Net (loss) income30.8 (35.7)43.6 (43.3)
Other comprehensive (loss) income(2.9)7.9 4.2 14.4
Total comprehensive (loss) income27.9 (27.8)47.8 (28.9)
Revlon Consumer Products Corporation | Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales253.8 175.6 484.5 399.8
Cost of sales90.8 70.7 178.4 155.7
Gross profit163 104.9 306.1 244.1
Selling, general and administrative expenses126.5 90.4 235.4 202.5
Acquisition, integration and divestiture costs0 (0.3)0.1 0.1
Restructuring charges and other, net2.1 0.6 4.8 0.5
Impairment charges0 0 0
(Gain) loss on divested assets0 0 0 0
Operating income (loss)34.4 14.2 65.8 41
Other (income) expense:
Intercompany interest, net(0.1)(0.3)(0.4)1.9
Interest Expense0 1.7 1.1 3.6
Amortization of debt issuance costs0 0 0 0
Gain on early extinguishment of debt0 0 0
Foreign currency (gains) losses, net(2.9)(4.4)2.7 15.9
Miscellaneous, net(6.2)2.6 (22.2)31.7
Other expense (income), net(9.2)(0.4)(18.8)53.1
(Loss) income from operations before income taxes43.6 14.6 84.6 (12.1)
Provision for (benefit from) for income taxes6.5 4.6 17 4.2
(Loss) income from continuing operations, net of taxes37.1 10 67.6 (16.3)
Equity in income (loss) of subsidiaries0 0 0 0
Net (loss) income37.1 10 67.6 (16.3)
Other comprehensive (loss) income(0.3)11.2 2.5 2.4
Total comprehensive (loss) income $ 36.8 $ 21.2 $ 70.1 $ (13.9)
[1]See Note 13, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2021 and 2020, respectively.
[2]See Note 13, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2021 and 2020, respectively.

PRODUCTS CORPORATION AND SUBS_6

PRODUCTS CORPORATION AND SUBSIDIARIES GUARANTOR FINANCIAL INFORMATION - Statement of Cash Flow (Details) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities $ (39,300,000) $ (164,200,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash (used in) provided by investing activities(800,000)(2,700,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in short-term borrowings and overdraft(6,700,000)(7,000,000)
Borrowings on term loans305,000,000 880,000,000
Repayments on term loans[1](176,100,000)(337,900,000)
Net (repayments) borrowings under the revolving credit facilities(36,800,000)(22,900,000)
Payment of financing costs(15,800,000)(101,200,000)
Tax withholdings related to net share settlements of restricted stock and RSUs $ 0 $ (1,200,000)(2,400,000)(1,600,000)
Other financing activities(200,000)(1,000,000)
Net cash provided by (used in) financing activities67,000,000 408,400,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash(1,000,000)(2,100,000)
Net increase (decrease) in cash, cash equivalents and restricted cash25,900,000 239,400,000
Cash, cash equivalents and restricted cash at beginning of period[2]102,500,000 104,500,000
Cash, cash equivalents and restricted cash at end of period[2]128,400,000 343,900,000 128,400,000 343,900,000
5.75% Senior Notes
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(99,600,000)
2019 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(200,000,000)
2018 Foreign Asset-Based Term Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(31,400,000)
2016 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(6,900,000)
Revlon Consumer Products Corporation
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities(39,300,000)(164,200,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash (used in) provided by investing activities(800,000)(2,700,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in short-term borrowings and overdraft(6,700,000)(7,000,000)
Borrowings on term loans305,000,000 880,000,000
Repayments on term loans[3](176,100,000)(337,900,000)
Net (repayments) borrowings under the revolving credit facilities(36,800,000)(22,900,000)
Payment of financing costs(15,800,000)(101,200,000)
Tax withholdings related to net share settlements of restricted stock and RSUs(2,400,000)(1,600,000)
Other financing activities(200,000)(1,000,000)
Net cash provided by (used in) financing activities67,000,000 408,400,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash(1,000,000)(2,100,000)
Net increase (decrease) in cash, cash equivalents and restricted cash25,900,000 239,400,000
Cash, cash equivalents and restricted cash at beginning of period[4]102,500,000 104,500,000
Cash, cash equivalents and restricted cash at end of period[4]128,400,000 343,900,000 128,400,000 343,900,000
Revlon Consumer Products Corporation | 5.75% Senior Notes
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(99,600,000)
Revlon Consumer Products Corporation | 2019 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(200,000,000)
Revlon Consumer Products Corporation | 2018 Foreign Asset-Based Term Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(31,400,000)
Revlon Consumer Products Corporation | 2016 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(6,900,000)
Revlon Consumer Products Corporation | Reportable Legal Entities | Products Corporation
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities(38,300,000)(148,300,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash (used in) provided by investing activities(600,000)(2,700,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in short-term borrowings and overdraft(200,000)(1,300,000)
Borrowings on term loans305,000,000 880,000,000
Repayments on term loans(176,100,000)
Net (repayments) borrowings under the revolving credit facilities(36,800,000)(22,900,000)
Payment of financing costs(15,800,000)(101,200,000)
Tax withholdings related to net share settlements of restricted stock and RSUs(2,400,000)(1,600,000)
Other financing activities(200,000)(1,000,000)
Net cash provided by (used in) financing activities73,500,000 414,100,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash(18,000,000)0
Net increase (decrease) in cash, cash equivalents and restricted cash16,600,000 263,100,000
Cash, cash equivalents and restricted cash at beginning of period6,500,000 1,000,000
Cash, cash equivalents and restricted cash at end of period23,100,000 264,100,000 23,100,000 264,100,000
Revlon Consumer Products Corporation | Reportable Legal Entities | Products Corporation | 5.75% Senior Notes
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(99,600,000)
Revlon Consumer Products Corporation | Reportable Legal Entities | Products Corporation | 2019 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(200,000,000)
Revlon Consumer Products Corporation | Reportable Legal Entities | Products Corporation | 2018 Foreign Asset-Based Term Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(31,400,000)
Revlon Consumer Products Corporation | Reportable Legal Entities | Products Corporation | 2016 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans(6,900,000)
Revlon Consumer Products Corporation | Reportable Legal Entities | Guarantor Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities(41,200,000)14,600,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash (used in) provided by investing activities200,000 0
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in short-term borrowings and overdraft(4,600,000)(6,200,000)
Borrowings on term loans0 0
Repayments on term loans0
Net (repayments) borrowings under the revolving credit facilities0 0
Payment of financing costs0 0
Tax withholdings related to net share settlements of restricted stock and RSUs0 0
Other financing activities0 0
Net cash provided by (used in) financing activities(4,600,000)(6,200,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash47,700,000 (9,000,000)
Net increase (decrease) in cash, cash equivalents and restricted cash2,100,000 (600,000)
Cash, cash equivalents and restricted cash at beginning of period7,800,000 6,400,000
Cash, cash equivalents and restricted cash at end of period9,900,000 5,800,000 9,900,000 5,800,000
Revlon Consumer Products Corporation | Reportable Legal Entities | Guarantor Subsidiaries | 5.75% Senior Notes
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Reportable Legal Entities | Guarantor Subsidiaries | 2019 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Reportable Legal Entities | Guarantor Subsidiaries | 2018 Foreign Asset-Based Term Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Reportable Legal Entities | Guarantor Subsidiaries | 2016 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Reportable Legal Entities | Non-Guarantor Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities40,200,000 (30,500,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash (used in) provided by investing activities(400,000)0
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in short-term borrowings and overdraft(1,900,000)500,000
Borrowings on term loans0 0
Repayments on term loans0
Net (repayments) borrowings under the revolving credit facilities0 0
Payment of financing costs0 0
Tax withholdings related to net share settlements of restricted stock and RSUs0 0
Other financing activities0 0
Net cash provided by (used in) financing activities(1,900,000)500,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash(30,700,000)6,900,000
Net increase (decrease) in cash, cash equivalents and restricted cash7,200,000 (23,100,000)
Cash, cash equivalents and restricted cash at beginning of period88,200,000 97,200,000
Cash, cash equivalents and restricted cash at end of period95,400,000 74,100,000 95,400,000 74,100,000
Revlon Consumer Products Corporation | Reportable Legal Entities | Non-Guarantor Subsidiaries | 5.75% Senior Notes
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Reportable Legal Entities | Non-Guarantor Subsidiaries | 2019 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Reportable Legal Entities | Non-Guarantor Subsidiaries | 2018 Foreign Asset-Based Term Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Reportable Legal Entities | Non-Guarantor Subsidiaries | 2016 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Eliminations
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities0 0
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash (used in) provided by investing activities0 0
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in short-term borrowings and overdraft0 0
Borrowings on term loans0 0
Repayments on term loans0
Net (repayments) borrowings under the revolving credit facilities0 0
Payment of financing costs0 0
Tax withholdings related to net share settlements of restricted stock and RSUs0 0
Other financing activities0 0
Net cash provided by (used in) financing activities0 0
Effect of exchange rate changes on cash, cash equivalents and restricted cash0 0
Net increase (decrease) in cash, cash equivalents and restricted cash0 0
Cash, cash equivalents and restricted cash at beginning of period0 0
Cash, cash equivalents and restricted cash at end of period $ 0 $ 0 $ 0 0
Revlon Consumer Products Corporation | Eliminations | 5.75% Senior Notes
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Eliminations | 2019 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Eliminations | 2018 Foreign Asset-Based Term Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans0
Revlon Consumer Products Corporation | Eliminations | 2016 Term Loan Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loans
[1]Repayments on term loans for the six months ended June 30, 2020 includes the repayment of the 2019 Term Loan Facility, repayment under the 2018 Foreign Asset-Based Term Loan and repayments under the 2016 Term Loan Facility of $200.0 million, $31.4 million and $6.9 million, respectively, as well as repurchases of the 5.75% Senior Notes of $99.6 million. During 2020, the Company used a portion of the proceeds from the 2020 BrandCo Facility to repurchase and subsequently cancel a portion of its 5.75% Senior Notes. See Note 8, "Debt" in the Company's 2020 Form 10-K for additional information.
[2]These amounts include restricted cash of $18.6 million and $5.4 million as of June 30, 2021 and 2020, respectively. The balance as of June 30, 2021 represents: (i) cash on deposit in lieu of a mandatory prepayment and loan proceeds held in escrow until certain collateral perfection requirements are satisfied under the 2021 Foreign Asset-Based Term Agreement; and (ii) cash on deposit to support outstanding undrawn letters of credit. The balance as of June 30, 2020 represents: (i) cash on deposit in lieu of a mandatory prepayment under the 2018 Foreign Asset-Based Term Facility; and (ii) cash on deposit to support outstanding undrawn letters of credit. These balances were included within prepaid expenses and other current assets and other assets in the Company's Consolidated Balance Sheets as of June 30, 2021 and June 30, 2020, respectively.
[3]Repayments on term loans for the six months ended June 30, 2020 includes the repayment of the 2019 Term Loan Facility, repayment under the 2018 Foreign Asset-Based Term Loan and repayments under the 2016 Term Loan Facility of $200.0 million, $31.4 million and $6.9 million, respectively, as well as repurchases of the 5.75% Senior Notes of $99.6 million. During 2020, the Company used a portion of the proceeds from the 2020 BrandCo Facility to repurchase and subsequently cancel a portion of its 5.75% Senior Notes. See Note 8, "Debt" in the Company's 2020 Form 10-K for additional information.
[4]These amounts include restricted cash of $18.6 million and $5.4 million as of June 30, 2021 and 2020, respectively. The balance as of June 30, 2021 represents: (i) cash on deposit in lieu of a mandatory prepayment and loan proceeds held in escrow until certain collateral perfection requirements are satisfied under the 2021 Foreign Asset-Based Term Agreement; and (ii) cash on deposit to support outstanding undrawn letters of credit. The balance as of June 30, 2020 represents: (i) cash on deposit in lieu of a mandatory prepayment under the 2018 Foreign Asset-Based Term Facility; and (ii) cash on deposit to support outstanding undrawn letters of credit. These balances were included within prepaid expenses and other current assets and other assets in the Company's Consolidated Balance Sheets as of June 30, 2021 and June 30, 2020, respectively