5 An impairment loss on the IT Cosmetics cash-generating unit was recorded for €254.7 million in view of adverse events, the performance not being in line with expectations. The slippage on the business plan results from the discontinuation of some very dilutive distribution channels in the United States. The recoverable amount of the IT Cosmetics cash-generating unit was €750.8 million at the end of June 2021. The discount rate used at 31 December 2021 for this test were as follows: 7.4% for the USA and 7.8% for international. At 31 December 2021, a 1% increase in the discount rate on all the Group’s Cash Generating Units would lead to an impairment loss risk of around €176.5  million. A 1% decrease in the terminal growth rate on all the Group’s Cash Generating Units would lead to an impairment loss risk of around €110.9 mill ion. The terminal growth rate is consistent with market data, i.e. 2.5% for Europe and 3% for the rest of the world. A 1-point decrease in the margin rate over the business plan period on all the Group’s Cash Generating Units would lead to an impairment loss risk of around €44.5 million. The net carrying amount of goodwill and brands with indefinite useful life breaks down as follows for the largest Cash Generating Units: NOTE 8. Investments accounted for under the equity method €   mill ions 31.12.2021 31.12.2020 31.12.2019 Investments accounted for under the equity method LIPP Distribution 9.3 10.5 10.1 Other 0.6 0.6 0.8 TOTAL 9.9 11.1 10.9 2019 2020 2021 Shu Uemura Vichy Dermablend L'Oréal Professionnel Kérastase NYX Professional Makeup Stylenanda YSL Beauté Redken PureOlogy Matrix CeraVe Lancôme L'Oréal Paris IT Cosmetics Garnier 1,000 2,000 Perfumes Mass Market make-up Urban Decay L ’ ORÉAL I UNIVERS AL REGISTRATION DOCUMENT 2021 321 2021 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements