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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 9 Months Ended
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Mar. 31, 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, 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(1) |  | (54) |  |  | (13) |  |  | — |  |  | — |  |  | (67) |
Translation adjustments, goodwill |  | 21 |  |  | — |  |  | 4 |  |  | 3 |  |  | 28 |
Translation adjustments, accumulated impairments |  | (1) |  |  | — |  |  | — |  |  | (2) |  |  | (3) |
|  | (34) |  |  | (7) |  |  | 4 |  |  | 5 |  |  | (32) |
Balance as of March 31, 2021 |  |  |  |  |  |  |  |  |  |
Goodwill |  | 540 |  |  | 1,216 |  |  | 258 |  |  | 396 |  |  | 2,410 |
Accumulated impairments |  | (150) |  |  | (830) |  |  | (26) |  |  | (35) |  |  | (1,041) |
|  | $ | 390 |  |  | $ | 386 |  |  | $ | 232 |  |  | $ | 361 |  |  | $ | 1,369 |
(1)A goodwill impairment charge of $13 million was recorded in connection with the exit of the global distribution of BECCA products and is included in Restructuring and other charges in the accompanying consolidated statements of earnings (loss) for the three and nine months ended March 31, 2021. See Note 4 – Charges Associated with Restructuring and Other Activities for further information relating to the Post-COVID Business Acceleration Program. See “Impairment Testing During the Nine Months Ended March 31, 2021” below for further information relating to fiscal 2021 impairment charges related to GLAMGLOW.
Schedule of other intangible assets, by type | Other intangible assets consist of the following:
|  | March 31, 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 |  | $ | 1,641 |  |  | $ | 564 |  |  | $ | 1,077 |  |  | $ | 1,590 |  |  | $ | 475 |  |  | $ | 1,115 |
License agreements |  | 43 |  |  | 43 |  |  | — |  |  | 43 |  |  | 43 |  |  | — |
|  | $ | 1,684 |  |  | $ | 607 |  |  | 1,077 |  |  | $ | 1,633 |  |  | $ | 518 |  |  | 1,115 |
Non-amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and other |  |  |  |  |  | 1,217 |  |  |  |  |  |  | 1,223 |
Total intangible assets |  |  |  |  |  | $ | 2,294 |  |  |  |  |  |  | $ | 2,338 |
Estimated aggregate amortization expense for the remainder of the current fiscal year and the next four years | 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 |  | $ | 24 |  |  | $ | 101 |  |  | $ | 100 |  |  | $ | 100 |  |  | $ | 100 |
Summary of impairment charges and carrying value of intangible assets | A summary of the impairment charges for the three and nine months ended March 31, 2020 and the remaining trademark and goodwill carrying values as of March 31, 2020, for each reporting unit, are as follows:
|  |  |  |  |  | Impairment Charge |  |  |  |
(In millions) |  |  |  |  |  | Three Months Ended March 31, 2020 |  | Nine Months Ended March 31, 2020 |  | Carrying Value
Reporting Unit: |  | Product Category |  | Region |  | Trademark |  | Goodwill |  | Trademark |  | Goodwill |  | Trademark |  | Goodwill
Too Faced |  | Makeup |  | The Americas |  | $ | 42 |  |  | $ | 162 |  |  | $ | 253 |  |  | $ | 592 |  |  | $ | 272 |  |  | $ | 13 |
BECCA |  | Makeup |  | The Americas |  | 14 |  |  | 35 |  |  | 47 |  |  | 70 |  |  | 51 |  |  | 28 |
Smashbox |  | Makeup |  | The Americas |  | 1 |  |  | 26 |  |  | 23 |  |  | 72 |  |  | 32 |  |  | — |
GLAMGLOW |  | Skin care |  | The Americas |  | 1 |  |  | 52 |  |  | 1 |  |  | 52 |  |  | 62 |  |  | 62 |
Total |  |  |  |  |  | $ | 58 |  |  | $ | 275 |  |  | $ | 324 |  |  | $ | 786 |  |  | $ | 417 |  |  | $ | 103 |

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