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Goodwill and Other Intangible Assets | 6 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 4. Goodwill and Other Intangible Assets Goodwill The following table summarizes the changes in the carrying amount of goodwill by segment and in total:
(in millions) | Pharmaceutical |  | Medical (1) |  | Total
Balance at June 30, 2023 | $ | 2,649 |  |  | $ | 1,960 |  |  | $ | 4,609 |
Goodwill acquired, net of purchase price adjustments | — |  |  | (3) |  |  | (3) |
Foreign currency translation adjustments and other | — |  |  | (1) |  |  | (1) |
Goodwill impairment | — |  |  | (581) |  |  | (581) |
Balance at December 31, 2023 | $ | 2,649 |  |  | $ | 1,375 |  |  | $ | 4,024 |
(1) At December 31, 2023 and June 30, 2023, the Medical segment accumulated goodwill impairment loss was $5.3 billion and $4.7 billion, respectively. We have not identified any indicators of impairment during the three months ended December 31, 2023 within our reporting units, including the Medical Unit. During the three months ended September 30, 2023, we elected to bypass the qualitative assessment and perform quantitative goodwill impairment testing for the Medical Unit due to an increase in the risk-free interest rate used in the discount rate. Our determination of the estimated fair value of the Medical Unit is based on a combination of the income-based approach (using a discount rate of 11 percent and a terminal growth rate of 2 percent), and market-based approaches. Additionally, we assigned a weighting of 80 percent to the discounted cash flow method, 10 percent to the guideline public company method, and 10 percent to the guideline transaction method. The carrying amount exceeded the fair value, which resulted in a pre-tax impairment charge of $581 million for the Medical Unit, which was recognized during the six months ended December 31, 2023 and is included in impairments and (gain)/loss on disposal of assets, net in our condensed consolidated statements of earnings/(loss). This impairment charge was driven by an increase of 1 percent in the discount rate primarily due to an increase in the risk-free interest rate. The discount rate used for the interim goodwill impairment testing at June 30, 2023 was 10 percent. During the three months ended December 31, 2022 and September 30, 2022, we performed quantitative goodwill impairment testing for the Medical Unit. This quantitative testing resulted in the carrying amount of the Medical Unit exceeding the fair value, resulting in pre-tax goodwill impairment charges of $709 million and $154 million recorded during the three months ended December 31, 2022 and September 30, 2022, respectively. Other Intangible Assets The following tables summarize other intangible assets by class at:
| December 31, 2023
(in millions) | Gross Intangible |  | Accumulated Amortization |  | Net Intangible |  | Weighted- Average Remaining Amortization Period (Years)
Indefinite-life intangibles: |  |  |  |  |  |  |
Trademarks and patents | $ | 12 |  |  | $ | — |  |  | $ | 12 |  |  | N/A
Total indefinite-life intangibles | 12 |  |  | — |  |  | 12 |  |  | N/A
Definite-life intangibles: |  |  |  |  |  |  |
Customer relationships | 3,175 |  |  | 2,357 |  |  | 818 |  |  | 9
Trademarks, trade names and patents | 546 |  |  | 394 |  |  | 152 |  |  | 7
Developed technology and other | 1,022 |  |  | 657 |  |  | 365 |  |  | 8
Total definite-life intangibles | 4,743 |  |  | 3,408 |  |  | 1,335 |  |  | 8
Total other intangible assets | $ | 4,755 |  |  | $ | 3,408 |  |  | $ | 1,347 |  |  | N/A
| June 30, 2023
(in millions) | Gross Intangible |  | Accumulated Amortization |  | Net Intangible
Indefinite-life intangibles: |  |  |  |  |
Trademarks and patents | $ | 11 |  |  | $ | — |  |  | $ | 11 |
Total indefinite-life intangibles | 11 |  |  | — |  |  | 11 |
Definite-life intangibles: |  |  |  |  |
Customer relationships | 3,174 |  |  | 2,274 |  |  | 900 |
Trademarks, trade names and patents | 546 |  |  | 380 |  |  | 166 |
Developed technology and other | 1,021 |  |  | 626 |  |  | 395 |
Total definite-life intangibles | 4,741 |  |  | 3,280 |  |  | 1,461 |
Total other intangible assets | $ | 4,752 |  |  | $ | 3,280 |  |  | $ | 1,472 |
Total amortization of intangible assets was $63 million and $71 million for the three months ended December 31, 2023 and 2022, respectively, and $127 million and $142 million for the six months ended December 31, 2023 and 2022, respectively. Estimated annual amortization of intangible assets for the remainder of fiscal 2024 through 2028 is as follows: $127 million, $226 million, $206 million, $174 million and $148 million.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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