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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 12 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS, NET GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Assessment for Impairments
The Company tests goodwill and indefinite-lived other intangible assets for impairment at least annually as of May 1, or more frequently, if certain events or circumstances warrant. During fiscal 2021, there were no impairments of goodwill at the Company’s reporting units and there were no impairments of indefinite-lived other intangible assets. During fiscal years 2020 and 2019, the Company recorded total goodwill impairments of $105.0 and $3,307.5, respectively, and total impairments on indefinite-lived other intangible assets of $329.0 and $389.8, respectively. Additionally, the Company recorded impairments of $19.7 on finite-lived other intangible assets during fiscal 2019.
Goodwill
Goodwill as of June 30, 2021, 2020 and 2019 is presented below:
AmericasEMEAAPACTotal
Gross balance at June 30, 2019$3,069.4 $3,737.9 $1,294.6 $8,101.9 
Accumulated impairments(1,768.7)(1,752.3)(414.1)(3,935.1)
Net balance at June 30, 2019$1,300.7 $1,985.6 $880.5 $4,166.8 
Changes during the year ended June 30, 2020
Acquisitions (a)
128.6 — — 128.6 
Dispositions(10.8)(10.1)(2.0)(22.9)
Impairment charges (b)
— (105.0)— (105.0)
Foreign currency translation(75.0)(88.9)(29.7)(193.6)
Gross balance at June 30, 2020$3,112.2 $3,638.9 $1,262.9 $8,014.0 
Accumulated impairments(1,768.7)(1,857.3)(414.1)(4,040.1)
Net balance at June 30, 2020$1,343.5 $1,781.6 $848.8 $3,973.9 
Changes during the year ended June 30, 2021
Measurement period adjustments (c)
(62.0)35.9 26.1 — 
Foreign currency translation46.6 68.2 29.4 144.2 
Gross balance at June 30, 2021$3,096.8 $3,743.0 $1,318.4 $8,158.2 
Accumulated impairments(1,768.7)(1,857.3)(414.1)(4,040.1)
Net balance at June 30, 2021$1,328.1 $1,885.7 $904.3 $4,118.1 

(a)Includes goodwill resulting from the King Kylie Transaction on January 6, 2020 (Refer to Note 4—Business Combinations, Asset Acquisitions and Divestitures).
(b)As a result of the June 1, 2020 impairment test, the EMEA reporting unit was impaired due to the COVID-19 pandemic, a loss of synergies from the sale of the Wella Business and an increase in the discount rate.
(c)Includes measurement period adjustments in connection with the King Kylie acquisition (Refer to Note 4—Business Combinations, Asset Acquisitions and Divestitures).
Other Intangible Assets, net
    Other intangible assets, net as of June 30, 2021 and 2020 are presented below:
June 30,
2021		June 30,
2020
Indefinite-lived other intangible assets $1,018.7 $995.5 
Finite-lived other intangible assets, net 3,444.3 3,376.6 
Total Other intangible assets, net$4,463.0 $4,372.1 
The changes in the carrying amount of indefinite-lived other intangible assets are presented below:
TrademarksTotal
Gross balance at June 30, 2019$1,914.0 $1,914.0 
Accumulated impairments(584.5)(584.5)
Net balance at June 30, 2019$1,329.5 $1,329.5 
Changes during the year ended June 30, 2020
Impairment charges (a)
(329.0)(329.0)
Foreign currency translation(5.0)(5.0)
Gross balance at June 30, 2020$1,909.0 $1,909.0 
Accumulated impairments(913.5)(913.5)
Net balance at June 30, 2020$995.5 $995.5 
Changes during the year ended June 30, 2021
Foreign currency translation23.2 23.2 
Gross balance at June 30, 2021$1,932.2 $1,932.2 
Accumulated impairments$(913.5)$(913.5)
Net balance at June 30, 20211,018.7 1,018.7 

(a) During fiscal 2020, the Company recognized asset impairment charges of $329.0 relating to indefinite-lived other intangible assets, mainly the CoverGirl, Max Factor, Philosophy and Bourjois trademarks.
Intangible assets subject to amortization are presented below:
CostAccumulated AmortizationAccumulated ImpairmentNet
June 30, 2020
License and collaboration agreements(a)
$3,861.2 $(1,021.1)$(19.6)$2,820.5 
Customer relationships(a)
786.1 (427.3)(5.5)353.3 
Trademarks325.7 (154.0)(0.5)171.2 
Product formulations and technology86.2 (54.6)— 31.6 
Total$5,059.2 $(1,657.0)$(25.6)$3,376.6 
June 30, 2021
License and collaboration agreements(b)
$4,192.9 $(1,229.1)$(19.6)$2,944.2 
Customer relationships803.1 (486.3)(5.5)311.3 
Trademarks
330.2 (168.7)(0.5)161.0 
Product formulations and technology90.2 (62.4)— 27.8 
Total$5,416.4 $(1,946.5)$(25.6)$3,444.3 

(a)Includes License agreements and Customer relationships of $649.0 and $27.0, respectively resulting from the King Kylie acquisition on January 6, 2020 (Refer to Note 4—Business Combinations, Asset Acquisitions and Divestitures).
(b)Includes the KKW Collaboration Agreement of $180.6 resulting from the KKW Holdings transaction on January 4, 2021 (Refer to Note 4—Business Combinations, Asset Acquisitions and Divestitures).
Amortization expense totaled $251.2, $233.1 and $246.7 for the fiscal years ended June 30, 2021, 2020 and 2019, respectively.
Intangible assets subject to amortization are amortized principally using the straight-line method and have the following weighted-average remaining lives:
Description 
License and collaboration agreements21.8 years
Customer relationships15.9 years
Trademarks16.1 years
Product formulations and technology22.1 years
As of June 30, 2021, the remaining weighted-average life of all intangible assets subject to amortization is 21.0 years.
The estimated aggregate amortization expense for each of the following fiscal years ending June 30 is presented below:
2022$212.7 
2023205.6 
2024203.7 
2025199.0 
2026167.7 
License Agreements
The Company records assets for license agreements (“licenses”) acquired in transactions accounted for as business combinations. These licenses provide the Company with the exclusive right to manufacture and market on a worldwide and/or regional basis, certain of the Company’s products which comprise a significant portion of the Company’s revenues. These licenses have initial terms covering various periods. Certain brand licenses provide for automatic extensions ranging from 2 to 10 year terms, at the Company’s discretion.