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Goodwill and Intangible Assets
9 Months Ended
Jun. 30, 2021
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
Total
Gross balance at October 1, 2020$967.2 $356.8 $206.7 $1,530.7 
Accumulated goodwill impairment(369.0)(2.0)— (371.0)
Net balance at October 1, 2020$598.2 $354.8 $206.7 $1,159.7 
Changes in the nine-month period ended June 30, 2021
Cremo acquisition measurement period adjustment— 0.3 — 0.3 
Cumulative translation adjustment2.9 1.0 3.0 6.9 
Gross balance at June 30, 2021$970.1 $358.1 $209.7 $1,537.9 
Accumulated goodwill impairment(369.0)(2.0)— (371.0)
Net balance at June 30, 2021$601.1 $356.1 $209.7 $1,166.9 
The following table sets forth definite-lived intangible assets by class:
June 30, 2021September 30, 2020
Gross
Carrying
Amount
Accumulated
Amortization
NetGross
Carrying
Amount
Accumulated
Amortization
Net
Trade names and brands$256.3 $54.7 $201.6 $256.2 $45.4 $210.8 
Technology and patents79.3 75.9 3.4 79.1 75.3 3.8 
Customer related and other222.3 115.8 106.5 219.9 107.8 112.1 
Total amortizable intangible assets$557.9 $246.4 $311.5 $555.2 $228.5 $326.7 
Amortization expense was $5.5 and $16.6 for the three and nine months ended June 30, 2021, respectively, and $4.2 and $12.7 for the three and nine months ended June 30, 2020, respectively. Estimated amortization expense for amortizable intangible assets for the remainder of fiscal 2021 and for fiscal 2022, 2023, 2024, 2025 and 2026 is $5.5, $22.1, $22.0, $21.9, $21.9 and $21.7, respectively, and $196.4 thereafter.
The Company had indefinite-lived intangible assets of $602.9 ($183.9 in Wet Shave, $389.1 in Sun and Skin Care, and $29.9 in Feminine Care) at June 30, 2021, an increase of $1.5 from September 30, 2020, which was the result of foreign currency fluctuations. The Company had indefinite-lived trade names and brands of $601.4 ($183.1 in Wet Shave, $388.4 in Sun and Skin Care, and $29.9 in Feminine Care) at September 30, 2020.
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, including the impact of the ongoing novel coronavirus 2019 (“COVID-19”) pandemic. The Company determined there was no triggering event requiring an interim impairment analysis during the nine months ended June 30, 2021. The qualitative analysis performed by the Company concluded that it was more likely than not that the goodwill and intangible assets had fair values greater than the carrying values. However, the unknown duration and continuing severity of COVID-19 may result in future impairment charges as changes in consumer habits could have an additional impact on the results of the Company’s operations. This could result in changes to the assumptions utilized in the annual impairment analysis to determine the estimated fair value of the Company’s goodwill and indefinite-lived intangible assets, including long-term growth rates and discount rates.