XML 63 R13.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Goodwill and Intangible Assets
3 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The following table sets forth goodwill by segment:
Wet
Shave
Sun and Skin
Care
Feminine
Care
All
Other
Total
Gross balance at October 1, 2019$960.3  $228.3  $207.0  $69.6  $1,465.2  
Accumulated goodwill impairment(369.0) (2.0) —  (61.4) (432.4) 
Net balance at October 1, 2019$591.3  $226.3  $207.0  $8.2  $1,032.8  
Changes in the three-month period ended December 31, 2019
Infant and Pet Care divestiture—  —  —  (8.2) (8.2) 
Cumulative translation adjustment4.2  1.2  0.8  —  6.2  
Gross balance at December 31, 2019$964.5  $229.5  $207.8  $61.4  $1,463.2  
Accumulated goodwill impairment(369.0) (2.0) —  (61.4) (432.4) 
Net balance at December 31, 2019$595.5  $227.5  $207.8  $—  $1,030.8  

December 31, 2019September 30, 2019
Gross
Carrying
Amount
Accumulated
Amortization
NetGross
Carrying
Amount
Accumulated
Amortization
Net
Trade names and brands$206.5  $37.6  $168.9  $206.4  $35.0  $171.4  
Technology and patents76.2  74.5  1.7  78.5  76.4  2.1  
Customer related and other178.4  103.4  75.0  176.0  100.9  75.1  
Total amortizable intangible assets
$461.1  $215.5  $245.6  $460.9  $212.3  $248.6  
Amortization expense was $4.3 and $4.5 for the three months ended December 31, 2019 and 2018, respectively. Estimated amortization expense for amortizable intangible assets for the remainder of fiscal 2020 and for fiscal 2021, 2022, 2023, 2024, and 2025 is $12.7, $16.5, $16.4, $16.4, $16.3, and $16.3, respectively, and $151.0 thereafter.
The Company had indefinite-lived intangible assets of $598.2 ($179.7 in Wet Shave, $388.6 in Sun and Skin Care, $29.9 in Feminine Care, and $0.0 in All Other) at December 31, 2019, a decrease of $66.1 from September 30, 2019, which was the result of the sale of the Diaper Genie indefinite lived intangible asset. The Company had indefinite-lived trade names and brands of $664.3 ($177.7 in Wet Shave, $387.9 in Sun and Skin Care, $29.9 in Feminine Care, and $68.8 in All Other) at September 30, 2019.
Goodwill and intangible assets deemed to have an indefinite life are not amortized but are instead reviewed annually for impairment of value or when indicators of a potential impairment are present. The Company’s annual impairment testing date is July 1. The Company continuously monitors events which could trigger an interim impairment analysis, such as changing business conditions and environmental factors. An interim impairment analysis may indicate that carrying amounts of goodwill and other intangible assets require adjustment or that remaining useful lives should be revised. Refer to the sensitivity analysis in Management's Discussion and Analysis in the Company’s Annual Report on Form 10-K filed with the SEC on November 26, 2019.
During fiscal 2019, the Company recorded impairment charges of $369.0, $2.0 and $37.0 on the goodwill of the Wet Shave, Skin Care, and Infant Care reporting units, respectively. The fair value of these reporting units was close to the carrying value at September 30, 2019 such that a significant decline in operations of the reporting unit could potentially result in additional impairment. Additionally, the Company recorded impairment charges of $87.0 and $75.0 during fiscal 2019 on the Wet Ones and Diaper Genie indefinite lived trade names, respectively.