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GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS | GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill by reportable segment for the fiscal years ended June 30, 2022 and 2021 were as follows:
| Goodwill
| Health and Wellness |  | Household |  | Lifestyle |  | International |  | Total
Balance as of June 30, 2020 | $ | 857 |  |  | $ | 85 |  |  | $ | 244 |  |  | $ | 391 |  |  | $ | 1,577 |
Acquisition | — |  |  | — |  |  | — |  |  | 208 |  |  | 208 |
Goodwill impairment | (228) |  |  | — |  |  | — |  |  | — |  |  | (228) |
Effect of foreign currency translation | — |  |  | — |  |  | — |  |  | 18 |  |  | 18 |
Balance as of June 30, 2021 | $ | 629 |  |  | $ | 85 |  |  | $ | 244 |  |  | $ | 617 |  |  | $ | 1,575 |
Effect of foreign currency translation | — |  |  | — |  |  | — |  |  | (17) |  |  | (17) |
Balance as of June 30, 2022 | $ | 629 |  |  | $ | 85 |  |  | $ | 244 |  |  | $ | 600 |  |  | $ | 1,558 |
The changes in the carrying amount of trademarks and other intangible assets for the fiscal years ended June 30, 2022 and 2021 were as follows:
| As of June 30, 2022 |  | As of June 30, 2021
| Gross carrying amount |  | Accumulated amortization / Impairments |  | Net carrying amount |  | Gross carrying amount |  | Accumulated amortization / Impairments |  | Net carrying amount
Trademarks with indefinite lives | $ | 668 |  |  | $ | — |  |  | $ | 668 |  |  | $ | 670 |  |  | $ | — |  |  | $ | 670 |
Trademarks with finite lives | 57 |  |  | 38 |  |  | 19 |  |  | 60 |  |  | 37 |  |  | 23 |
Other intangible assets with finite lives | 577 |  |  | 380 |  |  | 197 |  |  | 593 |  |  | 368 |  |  | 225 |
Total | $ | 1,302 |  |  | $ | 418 |  |  | $ | 884 |  |  | $ | 1,323 |  |  | $ | 405 |  |  | $ | 918 |
Amortization expense relating to the Company’s intangible assets was $31, $32 and $14 for the years ended June 30, 2022, 2021 and 2020, respectively. Estimated amortization expense for these intangible assets is $29, $28, $27, $27 and $27 for fiscal years 2023, 2024, 2025, 2026 and 2027, respectively. During fiscal year 2021, as a result of lower than expected actual and projected net sales growth and operating performance for the Vitamins, Minerals and Supplements (VMS) SBU, a strategic review was initiated by management that resulted in updated financial and operational plans. These events were considered a triggering event requiring interim impairment assessments to be performed on the VMS reporting unit, indefinite-lived trademarks and other assets. Based on the outcome of these assessments, the following pre-tax impairment charges were recorded during fiscal year 2021 within Goodwill, trademark and other asset impairments:
| VMS Impairment Charge
Goodwill | $ | 228 |
Trademarks, net | 93 |
Other intangible assets, net | 7 |
Property, plant and equipment, net | 1 |
Total | $ | 329 |
The impairment charges were a result of a higher level of competitive activity than originally assumed, accelerated declines in certain channels where the business was over-developed and higher than anticipated investments to grow the business, which adversely affected the assumptions used to determine the fair value of the respective assets held by the VMS reporting unit for growth and the estimates of expenses necessary to achieve that growth. These impairment charges were based on the Company’s estimates regarding the future financial performance of the VMS SBU and macroeconomic factors. In connection with recognizing these impairment charges, the Company recognized tax benefits related to the impairments of $62 due to the partial tax deductibility of these charges. To determine the fair value of the VMS reporting unit, the Company used the DCF method under the income approach. Under this approach, the Company estimated the future cash flows of the VMS reporting unit and discounted these cash flows at a rate of return that reflected its relative risk. The other key estimates and factors used in the DCF method included, but were not limited to, net sales and expense growth rates, and a terminal growth rate. To determine the estimated fair values of the VMS related indefinite-lived trademarks, which were included within the Health and Wellness reportable segment, the Company used the relief from royalty income approach. This approach required significant judgments in determining the royalty rates and the assets’ estimated cash flows as well as the appropriate discount rates applied to those cash flows to determine fair value. Additionally during fiscal year 2021, an impairment charge of $14 was recorded within Cost of products sold related to other intangible assets with finite lives that were no longer expected to be recoverable due to a pending exit from a Professional Products SBU supplier relationship. The remaining carrying value of these assets was $0 following the impairment charge. No other significant impairments were identified as a result of the Company’s impairment reviews during fiscal year 2021 and no significant impairments were identified during fiscal year 2022 or fiscal year 2020.

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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