Goodwill and intangibles, net

3 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

The following table sets forth goodwill by segment as of October 1, 2013 and December 31, 2013.



	Household Products		Personal Care		Total
Balance at October 1, 2013	$	37.2	$	1,438.6	$	1,475.8
Cumulative translation adjustment	0.1		1.4		1.5
Balance at December 31, 2013	$	37.3	$	1,440.0	$	1,477.3

Total amortizable intangible assets other than goodwill at December 31, 2013 are as follows:



	Gross Carrying Amount		Accumulated Amortization		Net
To be amortized:
Tradenames/Brands	$	19.0	$	13.0	$	6.0
Technology and patents	75.7		58.3		17.4
Customer-related/Other	163.4		59.7		103.7
Total amortizable intangible assets	$	258.1	$	131.0	$	127.1

The Company had indefinite-lived intangible assets of $1,748.9 ($1,668.2 in Personal Care and $80.7 in Household Products) at December 31, 2013, an increase of $45.0 from September 30, 2013 due to the feminine care acquisition and changes in foreign currency translation rates. Estimated amortization expense for amortizable intangible assets for the remainder of fiscal 2014 and the years ending September 30, 2015, 2016, 2017, 2018 and 2019 is approximately $12.9, $15.2, $15.2, $14.8, $7.3 and $6.0, respectively, and $55.7 thereafter.

Goodwill and intangible assets deemed to have an indefinite life are not amortized, but reviewed annually for impairment of value or when indicators of a potential impairment are present. The Company continuously monitors changing business conditions, which may indicate that the remaining useful life of goodwill and other intangible assets may warrant revision or carrying amounts may require adjustment. As part of the fiscal 2013 testing, no impairment was indicated. However, the indicated fair values resulting from the Company's discounted cash flow analysis for two brands, Playtex and Wet Ones, were relatively close to the carrying values of approximately 107% (approximately $650) for the Playtex brand and approximately 109% of the carrying value (approximately $200) for the Wet Ones brand. Key assumptions included in the testing of these brand values were a discount rate of 7.5% and a terminal growth rate of 2.0%. As of December 31, 2013, there were no events or circumstances that were considered to be potential indicators of impairment for goodwill or the indefinite-lived intangible assets. As in the past, the Company plans to complete it's annual testing for fiscal 2014 in the fourth fiscal quarter, in conjunction with the completion of the annual planning cycle.

Preliminary valuation estimates for the acquired goodwill and intangible assets related to the feminine care acquisition have been included in the disclosures above and will be adjusted when the final purchase price allocations are complete. The Company has developed a preliminary estimate of these values, but amounts are subject to change upon completion of the valuation analysis. The purchase price allocation is expected to be finalized by March 31, 2014. For purposes of the preliminary allocation, the fair values of the identifiable intangible assets were estimated using various valuation methods including discounted cash flows using both an income and cost approach. Any changes to the preliminary estimates of the fair value of assets acquired and liabilities assumed will be allocated to residual goodwill and prior period financial information will be restated.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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