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GOODWILL AND OTHER INTANGIBLE ASSETS | 3 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS As previously discussed in Note 2 – Acquisition of Business, in May 2021 the Company increased its investment in DECIEM, which resulted in the inclusion of additional goodwill of $1,297 million, amortizable intangible assets (customer lists) of $701 million with amortization periods of 7 years to 14 years, and non-amortizable intangible assets (trademarks) of $1,216 million. Goodwill associated with the acquisition is primarily attributable to the future revenue growth opportunities associated with sales growth in the skin care category, as well as the value associated with DECIEM's assembled workforce. As such, the goodwill has been allocated to the Company’s skin care product category. The goodwill recorded in connection with this acquisition will not be deductible for tax purposes. These amounts are provisional pending finalization of the opening balance sheet, the final valuation report, and allocation of the total consideration transferred. Goodwill 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, 2021 |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 1,786 |  |  | $ | 1,214 |  |  | $ | 262 |  |  | $ | 355 |  |  | $ | 3,617 |
Accumulated impairments |  | (141) |  |  | (830) |  |  | (30) |  |  | — |  |  | (1,001) |
|  | 1,645 |  |  | 384 |  |  | 232 |  |  | 355 |  |  | 2,616 |
Goodwill measurement period adjustment |  | 14 |  |  | — |  |  | — |  |  | — |  |  | 14 |
Translation adjustments and write-offs, goodwill |  | (53) |  |  | — |  |  | (3) |  |  | — |  |  | (56) |
Translation adjustments and write-offs, accumulated impairments |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
|  | (38) |  |  | — |  |  | (3) |  |  | — |  |  | (41) |
Balance as of September 30, 2021 |  |  |  |  |  |  |  |  |  |
Goodwill |  | 1,747 |  |  | 1,214 |  |  | 259 |  |  | 355 |  |  | 3,575 |
Accumulated impairments |  | (140) |  |  | (830) |  |  | (30) |  |  | — |  |  | (1,000) |
|  | $ | 1,607 |  |  | $ | 384 |  |  | $ | 229 |  |  | $ | 355 |  |  | $ | 2,575 |
Other Intangible Assets Other intangible assets consist of the following:
|  | September 30, 2021 |  | June 30, 2021
(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 |  | $ | 2,209 |  |  | $ | 583 |  |  | $ | 1,626 |  |  | $ | 2,273 |  |  | $ | 544 |  |  | $ | 1,729 |
License agreements |  | 43 |  |  | 43 |  |  | — |  |  | 43 |  |  | 43 |  |  | — |
|  | $ | 2,252 |  |  | $ | 626 |  |  | 1,626 |  |  | $ | 2,316 |  |  | $ | 587 |  |  | 1,729 |
Non-amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and other |  |  |  |  |  | 2,297 |  |  |  |  |  |  | 2,366 |
Total intangible assets |  |  |  |  |  | $ | 3,923 |  |  |  |  |  |  | $ | 4,095 |
The aggregate amortization expense related to amortizable intangible assets was $45 million and $25 million for the three months ended September 30, 2021 and 2020, respectively. The estimated aggregate amortization expense for the remainder of fiscal 2022 and for each of the next four fiscal years is as follows:
|  | Fiscal
(In millions) |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026
Estimated aggregate amortization expense |  | $ | 116 |  |  | $ | 155 |  |  | $ | 154 |  |  | $ | 154 |  |  | $ | 154 |

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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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