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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

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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