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BUSINESS ACQUIRED (Tables) | 9 Months Ended
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Mar. 31, 2021
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the final purchase price allocation for the fair value of the joint venture’s assets acquired and liabilities assumed and the related deferred income taxes as of the acquisition date. The fair value of the assets acquired and liabilities assumed reflects the final insignificant measurement period adjustments related to goodwill, deferred income taxes and income taxes payable. The definite-lived intangibles acquired primarily represent the Company reacquiring previously licensed trademarks and customer relationships. The weighted-average estimated useful life of intangible assets subject to amortization is 9 years.
| Joint Venture
Goodwill | $ | 208 |
Reacquired rights (included in Other intangible assets, net) | 138 |
Property, plant and equipment | 46 |
Customer relationships (included in Other intangible assets, net) | 10 |
Working capital, net (includes cash acquired of $26) | 34 |
Noncurrent liabilities, net | (5) |
Deferred income taxes | (19) |
Total fair value of net assets | 412 |
Less: Fair value of noncontrolling interests | (198) |
Less: Fair value of previously held equity interest | (103) |
Total purchase consideration | $ | 111 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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