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GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Jun. 30, 2021
GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS [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, 2021 and 2020 were as follows:
Goodwill
Health and WellnessHouseholdLifestyleInternationalTotal
Balance as of June 30, 2019$857 $85 $244 $405 $1,591 
Acquisition— — — — — 
Effect of foreign currency translation— — — (14)(14)
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 

The changes in the carrying amount of trademarks and other intangible assets for the fiscal years ended June 30 were as follows:
As of June 30, 2021As of June 30, 2020
Gross
carrying
amount		Accumulated
amortization / Impairments		Net carrying
amount		Gross
carrying
amount		Accumulated
amortization / Impairments		Net carrying
amount
Trademarks with indefinite lives (1)
$670 $— $670 $766 $— $766 
Trademarks with finite lives (1)
60 37 23 47 28 19 
Other intangible assets with finite lives593 368 225 424 315 109 
Total$1,323 $405 $918 $1,237 $343 $894 
(1) As of June 30, 2021 reflects changes of the useful lives of certain VMS indefinite-lived intangible assets to finite-lived effective April 1, 2021.
Amortization expense relating to the Company’s intangible assets was $32, $14 and $15 for the years ended June 30, 2021, 2020 and 2019, respectively. Estimated amortization expense for these intangible assets is $31, $29, $28, $27 and $27 for fiscal years 2022, 2023, 2024, 2025 and 2026, respectively.
During fiscal year 2021, as a result of lower than expected actual and projected net sales growth and operating performance for the 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, net86 
Other intangible assets, net14 
Property, plant and equipment, net1 
Total$329 

The impairment charges are a result of a higher level of competitive activity than originally assumed, accelerated declines in the channel where the business is over-developed, and higher than anticipated investments to grow the business, which have 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 are based on the Company’s current 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 reflects its relative risk. The other key estimates and factors used in the DCF method include, but are 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 income approach. This approach requires 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. In addition, the useful lives of the impaired trademarks, with a remaining net carrying value of $13 as of March 31, 2021, were changed from indefinite to finite beginning on April 1, 2021, which reflects the remaining expected useful lives of the trademarks based on the most recent financial and operational plans. The weighted-average estimated useful life of these trademarks is 16 years.

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 significant impairments were identified as a result of the Company’s impairment reviews during fiscal year 2020.