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GOODWILL AND OTHER INTANGIBLE ASSETS | 6 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS 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, 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 period |  | — |  |  | 6 |  |  | — |  |  | 4 |  |  | 10 |
Impairment charges |  | (54) |  |  | — |  |  | — |  |  | — |  |  | (54) |
Translation adjustments, goodwill |  | 36 |  |  | — |  |  | 9 |  |  | 3 |  |  | 48 |
Translation adjustments, accumulated impairments |  | (2) |  |  | — |  |  | — |  |  | (2) |  |  | (4) |
|  | (20) |  |  | 6 |  |  | 9 |  |  | 5 |  |  | — |
Balance as of December 31, 2020 |  |  |  |  |  |  |  |  |  |
Goodwill |  | 555 |  |  | 1,216 |  |  | 263 |  |  | 396 |  |  | 2,430 |
Accumulated impairments |  | (151) |  |  | (817) |  |  | (26) |  |  | (35) |  |  | (1,029) |
|  | $ | 404 |  |  | $ | 399 |  |  | $ | 237 |  |  | $ | 361 |  |  | $ | 1,401 |
Other intangible assets consist of the following:
|  | December 31, 2020 |  | 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 |  | $ | 1,684 |  |  | $ | 537 |  |  | $ | 1,147 |  |  | $ | 1,590 |  |  | $ | 475 |  |  | $ | 1,115 |
License agreements |  | 43 |  |  | 43 |  |  | — |  |  | 43 |  |  | 43 |  |  | — |
|  | $ | 1,727 |  |  | $ | 580 |  |  | 1,147 |  |  | $ | 1,633 |  |  | $ | 518 |  |  | 1,115 |
Non-amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and other |  |  |  |  |  | 1,277 |  |  |  |  |  |  | 1,223 |
Total intangible assets |  |  |  |  |  | $ | 2,424 |  |  |  |  |  |  | $ | 2,338 |
The aggregate amortization expense related to amortizable intangible assets was $27 million and $11 million for the three months ended December 31, 2020 and 2019, respectively, and $52 million and $22 million for the six months ended December 31, 2020 and 2019, respectively. The estimated aggregate amortization expense for the remainder of fiscal 2021 and for each of the next four fiscal years is as follows:
|  | Fiscal
(In millions) |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025
Estimated aggregate amortization expense |  | $ | 52 |  |  | $ | 105 |  |  | $ | 104 |  |  | $ | 104 |  |  | $ | 104 |
Impairment Testing During the Six Months Ended December 31, 2020 During November 2020, given the actual and the estimate of the potential future impacts relating to the uncertainty of the duration and severity of COVID-19 impacting the Company and lower than expected results from geographic expansion, the Company made further revisions to the internal forecasts relating to its GLAMGLOW reporting unit. The Company concluded that the changes in circumstances in this reporting unit triggered the need for an interim impairment review of its trademark and goodwill. These changes in circumstances were also an indicator that the carrying amounts of GLAMGLOW's long-lived assets, including customer lists, may not be recoverable. Accordingly, the Company performed an interim impairment test for the trademark and a recoverability test for the long-lived assets as of November 30, 2020. The Company concluded that the carrying value of the trademark for GLAMGLOW exceeded its estimated fair value, which was determined utilizing the relief-from-royalty method to determine discounted projected future cash flows, and recorded an impairment charge of $21 million. In addition, the Company concluded that the carrying value of the GLAMGLOW customer lists intangible asset was fully impaired and recorded an impairment charge of $6 million. The fair value of all other long-lived assets of GLAMGLOW exceeded their carrying values and were not impaired as of November 30, 2020. After adjusting the carrying values of the trademark and customer lists intangible assets, the Company completed an interim quantitative impairment test for goodwill and recorded a goodwill impairment charge of $54 million, reducing the carrying value of goodwill for the GLAMGLOW reporting unit to zero. The fair value of the GLAMGLOW reporting unit was based upon an equal weighting of the income and market approaches, utilizing estimated cash flows and a terminal value, discounted at a rate of return that reflects the relative risk of the cash flows, as well as valuation multiples derived from comparable publicly traded companies that are applied to operating performance of the reporting unit. The impairment charges for the three and six months ended December 31, 2020 were reflected in the skin care product category and in the Americas region. As of December 31, 2020, the remaining carrying value of the trademark related to the GLAMGLOW reporting unit was $36 million. Impairment Testing During the Six Months Ended December 31, 2019 During December 2019, given the continuing declines in prestige makeup, generally in North America, and the ongoing competitive activity, the Company’s Too Faced, BECCA and Smashbox reporting units made revisions to their internal forecasts concurrent with the Company's brand strategy review process. The Company concluded that the changes in circumstances in these reporting units triggered the need for an interim impairment review of their respective trademarks and goodwill. These changes in circumstances were also an indicator that the carrying amounts of their respective long-lived assets, including customer lists, may not be recoverable. Accordingly, the Company performed interim impairment tests for the trademarks and recoverability tests for the long-lived assets as of December 31, 2019. The Company concluded that the carrying amounts of the long-lived assets were recoverable. The Company also concluded that the carrying values of the trademarks exceeded their estimated fair values, which were determined utilizing the relief-from-royalty method to determine discounted projected future cash flows, and recorded impairment charges. After adjusting the carrying value of the trademarks, the Company completed interim quantitative impairment tests for goodwill and recorded goodwill impairment charges for each of these reporting units. The fair value of each reporting unit was based upon an equal weighting of the income and market approaches, utilizing estimated cash flows and a terminal value, discounted at a rate of return that reflects the relative risk of the cash flows, as well as valuation multiples derived from comparable publicly traded companies that are applied to operating performance of the reporting unit. A summary of the impairment charges for the three and six months ended December 31, 2019 and the remaining trademark and goodwill carrying values as of December 31, 2019, for each reporting unit, are as follows:
(In millions) |  | Impairment Charge |  | Carrying Value
Reporting Unit: |  | Trademark |  | Goodwill |  | Trademark |  | Goodwill
Too Faced |  | $ | 211 |  |  | $ | 430 |  |  | $ | 314 |  |  | $ | 175 |
BECCA |  | 33 |  |  | 35 |  |  | 65 |  |  | 63 |
Smashbox |  | 22 |  |  | 46 |  |  | 33 |  |  | 26 |
Total |  | $ | 266 |  |  | $ | 511 |  |  | $ | 412 |  |  | $ | 264 |
The impairment charges were recorded in the makeup product category and in the Americas region.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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