Goodwill and Other Intangible Assets

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

4. Goodwill and Other Intangible Assets

Goodwill

The following table summarizes the changes in the carrying amount of goodwill by segment and in total:

(in millions)	Pharmaceutical (1)		Medical (2)		Total
Balance at June 30, 2019	$	2,663	$	5,715	$	8,378
Goodwill acquired, net of purchase price adjustments	(5)		—		(5)
Foreign currency translation adjustments and other	(1)		(15)		(16)
Balance at June 30, 2020	2,657		5,700		8,357
Goodwill acquired, net of purchase price adjustments	2		—		2
Foreign currency translation adjustments and other	—		18		18
Cordis goodwill reclassified to assets held for sale	—		(388)		(388)
Balance at June 30, 2021	$	2,659	$	5,330	$	7,989

(1)    At June 30, 2021 and 2020, the Pharmaceutical segment accumulated goodwill impairment loss was $829 million.

(2)    At June 30, 2021 and 2020, the Medical segment accumulated goodwill impairment loss was $1.4 billion.

In connection with the divestiture of our Cordis business, during fiscal 2021 we allocated and reclassified $388 million of goodwill from the Medical Unit (within our Medical Segment) to the Cordis disposal group based on the estimated relative fair values of the business to be disposed of and the portion of the reporting unit that will be retained, discussed further in Note 2.

Other Intangible Assets

The following tables summarize other intangible assets by class at June 30:

	2021
(in millions)	Gross Intangible		Accumulated Amortization		Net Intangible		Weighted- Average Remaining Amortization Period (Years)
Indefinite-life intangibles:
Trademarks and patents	$	12	$	—	$	12	N/A
Total indefinite-life intangibles	12		—		12		N/A
Definite-life intangibles:
Customer relationships	3,330		1,989		1,341		11
Trademarks, trade names and patents	551		328		223		9
Developed technology and other	1,035		506		529		10
Total definite-life intangibles	4,916		2,823		2,093		10
Total other intangible assets	$	4,928	$	2,823	$	2,105	N/A

	2020
(in millions)	Gross Intangible		Accumulated Amortization		Net Intangible
Indefinite-life intangibles:
IPR&D, trademarks and other	$	23	$	—	$	23
Total indefinite-life intangibles	23		—		23
Definite-life intangibles:
Customer relationships	3,554		1,828		1,726
Trademarks, trade names and patents	673		341		332
Developed technology and other	1,604		767		837
Total definite-life intangibles	5,831		2,936		2,895
Total other intangible assets	$	5,854	$	2,936	$	2,918

Total amortization of intangible assets was $428 million, $512 million and $531 million for fiscal 2021, 2020 and 2019, respectively. The estimated annual amortization for intangible assets for fiscal 2022 through 2026 is as follows: $315 million, $287 million, $264 million, $238 million and $212 million.