GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

9 Months Ended

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