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GOODWILL
 12 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL GOODWILL
The table below contains details related to the Company's goodwill:
 June 30,
 20202019
 Gross
Carrying
Value (1)		Accumulated
Impairment (3)		NetGross
Carrying
Value (1)		Accumulated
Impairment (2)		Net
 (Dollars in thousands)
Goodwill$341,721 $(114,264)$227,457 $419,818 $(74,100)$345,718 
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(1)The change in the gross carrying value of goodwill relates to goodwill derecognized for salons sold to franchisees and foreign currency translation adjustments.
(2)In fiscal year 2011, the Company realized a $74.1 million goodwill impairment loss associated with the Company-owned reporting unit (the previous North American Value reporting unit).
(3)In fiscal year 2020, the Company realized a $40.2 million goodwill impairment associated with the Company-owned reporting unit. Prior to the COVID-19 pandemic, the Company had been derecognizing Company-owned goodwill as part of the calculation of gain or loss on the sale of salons to franchisees. Following the goodwill impairment in fiscal year 2020, the Company-owned reporting unit has no remaining goodwill, so there will be no further derecognition of Company-owned goodwill.
The table below contains details related to the Company's goodwill:
FranchiseCompany-ownedConsolidated
(Dollars in thousands)
Goodwill, net at June 30, 2019$227,928 $117,790 $345,718 
Translation rate adjustments(471)(660)(1,131)
Derecognition related to sale of salon assets to franchisees (1)— (76,966)(76,966)
Goodwill impairment— (40,164)(40,164)
Goodwill, net at June 30, 2020$227,457 $— $227,457 
_______________________________________________________________________________
(1)Prior to the impairment charge, goodwill was derecognized for salons sold to franchisees with positive cash flows. The amount of goodwill derecognized was determined by a fraction (the numerator of which is the trailing-twelve months EBITDA of the salon being sold and the denominator of which is the estimated annualized EBITDA of the Company-owned reporting unit) that is applied to the goodwill balance of the Company-owned reporting unit at the time of sale. This methodology utilizing the trailing-twelve months of EBITDA as the unit of account is most representative of fair value for the derecognition calculation due to vendition strategies that may cause proceeds to not be representative of a market participant value.