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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 12 Months Ended
Jun. 30, 2023
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 years 2023, 2022 and 2021, the Company recorded no impairments of goodwill at the Company’s reporting units. During fiscal years 2023, 2022 and 2021, the Company recorded total impairments on indefinite-lived other intangible assets of nil, $31.4 and nil, respectively. Additionally, the Company recorded no impairments on finite-lived other intangible assets during fiscal years 2023, 2022 or 2021.
Goodwill
Goodwill as of June 30, 2023, 2022 and 2021 is presented below:
PrestigeConsumer BeautyTotal
Gross balance at June 30, 2021$6,384.0 $1,774.2 $8,158.2 
Accumulated impairments(3,110.3)(929.8)(4,040.1)
Net balance at June 30, 2021$3,273.7 $844.4 $4,118.1 
Changes during the year ended June 30, 2022
Foreign currency translation(163.3)(40.1)(203.4)
Gross balance at June 30, 2022$6,220.7 $1,734.1 $7,954.8 
Accumulated impairments(3,110.3)(929.8)(4,040.1)
Net balance at June 30, 2022$3,110.4 $804.3 $3,914.7 
Changes during the year ended June 30, 2023
Foreign currency translation58.5 14.7 73.2 
Gross balance at June 30, 2023$6,279.2 $1,748.8 $8,028.0 
Accumulated impairments(3,110.3)(929.8)(4,040.1)
Net balance at June 30, 2023$3,168.9 $819.0 $3,987.9 
Other Intangible Assets, net
    Other intangible assets, net as of June 30, 2023 and 2022 are presented below:
June 30,
2023		June 30,
2022
Indefinite-lived other intangible assets $950.8 $936.6 
Finite-lived other intangible assets, net 2,847.2 2,966.2 
Total Other intangible assets, net$3,798.0 $3,902.8 
The changes in the carrying amount of indefinite-lived other intangible assets are presented below:
TrademarksTotal
Gross balance at June 30, 2021$1,932.2 $1,932.2 
Accumulated impairments(913.5)(913.5)
Net balance at June 30, 2021$1,018.7 $1,018.7 
Changes during the year ended June 30, 2022
Impairment charges (a)
(31.4)(31.4)
Foreign currency translation(50.7)(50.7)
Gross balance at June 30, 2022$1,881.5 $1,881.5 
Accumulated impairments(944.9)(944.9)
Net balance at June 30, 2022$936.6 $936.6 
Changes during the year ended June 30, 2023
Foreign currency translation14.2 14.2 
Gross balance at June 30, 2023$1,895.7 $1,895.7 
Accumulated impairments
$(944.9)$(944.9)
Net balance at June 30, 2023950.8 950.8 
(a) During fiscal 2022, the Company recognized asset impairment charges of $31.4 relating to the Max Factor and Bourjois trademarks.
Intangible assets subject to amortization are presented below:
CostAccumulated AmortizationAccumulated ImpairmentNet
June 30, 2022
License and collaboration agreements
$3,861.9 $(1,302.2)$(19.6)$2,540.1 
Customer relationships740.0 (473.5)(5.5)261.0 
Trademarks320.5 (177.1)(0.5)142.9 
Product formulations and technology83.9 (61.7)— 22.2 
Total$5,006.3 $(2,014.5)$(25.6)$2,966.2 
June 30, 2023
License and collaboration agreements$3,756.2 $(1,282.6)$(19.6)$2,454.0 
Customer relationships750.6 (505.9)(5.5)239.2 
Trademarks
313.0 (180.6)(0.5)131.9 
Product formulations and technology85.6 (63.5)— 22.1 
Total$4,905.4 $(2,032.6)$(25.6)$2,847.2 

Amortization expense totaled $191.8, $207.4 and $251.2 for the fiscal years ended June 30, 2023, 2022 and 2021, 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 agreements20.2 years
Customer relationships15.4 years
Trademarks14.9 years
Product formulations and technology21.3 years
As of June 30, 2023, the remaining weighted-average life of all intangible assets subject to amortization is 19.6 years.
The estimated aggregate amortization expense for each of the following fiscal years ending June 30 is presented below:
2024$190.0 
2025185.7 
2026154.8 
2027145.5 
2028142.1 
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.