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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of goodwill by product category and related change in the carrying amount | The following table presents goodwill by product category and the related change in the carrying amount:
(In millions) |  | Skin Care |  | Makeup |  | Fragrance |  | Hair Care |  | Total
Balance as of June 30, 2019 |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 185 |  | $ | 1,199 |  | $ | 254 |  | $ | 390 |  | $ | 2,028
Accumulated impairments |  | (36) |  | (68) |  | (22) |  | (34) |  | (160)
|  | 149 |  | 1,131 |  | 232 |  | 356 |  | 1,868
Goodwill acquired during the year |  | 346 |  | 11 |  | — |  | — |  | 357
Impairment charges |  | (60) |  | (749) |  | (3) |  | — |  | (812)
Translation adjustments, goodwill |  | (12) |  | — |  | — |  | (1) |  | (13)
Translation adjustments, accumulated impairments |  | 1 |  | — |  | (1) |  | 1 |  | 1
|  | 275 |  | (738) |  | (4) |  | — |  | (467)
Balance as of June 30, 2020 |  |  |  |  |  |  |  |  |  |
Goodwill |  | 519 |  | 1,210 |  | 254 |  | 389 |  | 2,372
Accumulated impairments |  | (95) |  | (817) |  | (26) |  | (33) |  | (971)
|  | 424 |  | 393 |  | 228 |  | 356 |  | 1,401
Goodwill acquired during the year |  | 1,283 |  | 6 |  | — |  | 4 |  | 1,293
Impairment charges(1) |  | (54) |  | (13) |  | (4) |  | — |  | (71)
Translation adjustments and write-offs, goodwill |  | (16) |  | (2) |  | 8 |  | (38) |  | (48)
Translation adjustments and write-offs, accumulated impairments |  | 8 |  | — |  | — |  | 33 |  | 41
|  | 1,221 |  | (9) |  | 4 |  | (1) |  | 1,215
Balance as of June 30, 2021 |  |  |  |  |  |  |  |  |  |
Goodwill |  | 1,786 |  | 1,214 |  | 262 |  | 355 |  | 3,617
Accumulated impairments |  | (141) |  | (830) |  | (30) |  | — |  | (1,001)
|  | $ | 1,645 |  | $ | 384 |  | $ | 232 |  | $ | 355 |  | $ | 2,616
(1)Goodwill impairment charges of $13 million, recorded in connection with the exit of the global distribution of BECCA products, and $4 million, other, are included in Restructuring and other charges in the accompanying consolidated statements of earnings for the year ended June 30, 2021. See Note 8 – Charges Associated with Restructuring and Other Activities for further information relating to the Post-COVID Business Acceleration Program. See “Fiscal 2021 Impairment Testing” below for further information relating to fiscal 2021 impairment charges related to GLAMGLOW and Smashbox.
Schedule of other intangible assets | Other intangible assets consist of the following:
|  | June 30, 2021 |  | June 30, 2020
(In millions) |  | Gross Carrying Value |  | Accumulated Amortization |  | Total Net Book Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Total Net Book Value
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer lists and other |  | $ | 2,273 |  |  | $ | 544 |  |  | $ | 1,729 |  |  | $ | 1,590 |  |  | $ | 475 |  |  | $ | 1,115 |
License agreements |  | 43 |  |  | 43 |  |  | — |  |  | 43 |  |  | 43 |  |  | — |
|  | $ | 2,316 |  |  | $ | 587 |  |  | 1,729 |  |  | $ | 1,633 |  |  | $ | 518 |  |  | 1,115 |
Non-amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and other |  |  |  |  |  | 2,366 |  |  |  |  |  |  | 1,223 |
Total intangible assets |  |  |  |  |  | $ | 4,095 |  |  |  |  |  |  | $ | 2,338 |
Estimated aggregate amortization expense for the next five years | The estimated aggregate amortization expense for each of the next five fiscal years is as follows:
|  | Fiscal
(In millions) |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026
Estimated aggregate amortization expense |  | $ | 160 |  |  | $ | 160 |  |  | $ | 159 |  |  | $ | 159 |  |  | $ | 159 |
Summary of impairment charges and carrying value of intangible assets | A summary of the impairment charges for the three and twelve months ended June 30, 2021 and the remaining trademark, customer lists and goodwill carrying values as of June 30, 2021, for each reporting unit, are as follows:
|  |  |  | Impairment Charge |  |  |  |  |  |
(In millions) |  |  |  | Three Months Ended June 30, 2021 |  | Twelve Months Ended June 30, 2021 |  | Carrying Value as of June 30, 2021
Reporting Unit: |  | Product Category |  | Trademark |  | Customer Lists |  | Goodwill |  | Trademark |  | Customer Lists |  | Goodwill |  | Trademark |  | Customer Lists |  | Goodwill
GLAMGLOW |  | Skin care |  | $ | 25 |  |  | $ | — |  |  | $ | — |  |  | $ | 46 |  |  | $ | 6 |  |  | $ | 54 |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |
Smashbox |  | Makeup |  | 11 |  |  | — |  |  | — |  |  | 11 |  |  | — |  |  | — |  |  | 21 |  |  | — |  |  | — |
Total |  |  |  | $ | 36 |  |  | $ | — |  |  | $ | — |  |  | $ | 57 |  |  | $ | 6 |  |  | $ | 54 |  |  | $ | 32 |  |  | $ | — |  |  | $ | — |
A summary of the impairment charges for the three and twelve months ended June 30, 2020 and the remaining trademark, customer lists and goodwill carrying values as of June 30, 2020, for each reporting unit, are as follows:
|  |  |  | Impairment Charge |  |  |  |  |  |
(In millions) |  |  |  | Three Months Ended June 30, 2020 |  | Twelve Months Ended June 30, 2020 |  | Carrying Value as of June 30, 2020
Reporting Unit: |  | Product Category |  | Trademark |  | Customer Lists |  | Goodwill |  | Trademark |  | Customer Lists |  | Goodwill |  | Trademark |  | Customer Lists |  | Goodwill
Too Faced |  | Makeup |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 253 |  |  | $ | — |  |  | $ | 592 |  |  | $ | 272 |  |  | $ | 217 |  |  | $ | 13 |
BECCA |  | Makeup |  | 24 |  |  | 35 |  |  | 15 |  |  | 71 |  |  | 35 |  |  | 85 |  |  | 27 |  |  | 7 |  |  | 13 |
Smashbox |  | Makeup |  | — |  |  | — |  |  | — |  |  | 23 |  |  | — |  |  | 72 |  |  | 32 |  |  | — |  |  | — |
GLAMGLOW |  | Skin care |  | 5 |  |  | — |  |  | 8 |  |  | 6 |  |  | — |  |  | 60 |  |  | 57 |  |  | 6 |  |  | 54 |
Editions de Parfums Frédéric Malle |  | Fragrance |  | 11 |  |  | — |  |  | 3 |  |  | 11 |  |  | — |  |  | 3 |  |  | 21 |  |  | 2 |  |  | 3 |
Total |  |  |  | $ | 40 |  |  | $ | 35 |  |  | $ | 26 |  |  | $ | 364 |  |  | $ | 35 |  |  | $ | 812 |  |  | $ | 409 |  |  | $ | 232 |  |  | $ | 83 |

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- Definition Tabular disclosure of amortizable finite-lived intangible assets, including the gross carrying amount and accumulated amortization along with disclosure of the carrying value of indefinite-lived intangible assets not subject to amortization, excluding goodwill, in total and by major class. + References No definition available. + Details
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