Goodwill and Intangible Assets

12 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The following table sets forth goodwill by segment:


	Wet Shave		Sun and Skin Care		Feminine Care		Total
Gross balance at October 1, 2021	$	967.5	$	357.6	$	208.7	$	1,533.8
Accumulated goodwill impairment	(369.0)		(2.0)		—		(371.0)
Net balance at October 1, 2021	$	598.5	$	355.6	$	208.7	$	1,162.8

Changes in the twelve months ended September 30, 2022
Billie acquisition	181.2		—		—		181.2
Cumulative translation adjustment	(15.2)		(3.1)		(3.5)		(21.8)

Gross balance at October 1, 2022	$	1,133.5	$	354.5	$	205.2	$	1,693.2
Accumulated goodwill impairment	(369.0)		(2.0)		—		(371.0)
Net balance at October 1, 2022	$	764.5	$	352.5	$	205.2	$	1,322.2

Changes in the twelve months ended September 30, 2023

Cumulative translation adjustment	7.0		1.4		0.8		$	9.2

Gross balance at September 30, 2023	$	1,140.5	$	355.9	$	206.0	$	1,702.4
Accumulated goodwill impairment	(369.0)		(2.0)		—		(371.0)
Net balance at September 30, 2023	$	771.5	$	353.9	$	206.0	$	1,331.4

Total amortizable intangible assets were as follows:


	September 30, 2023						September 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Indefinite lived
Trade names and brands	$	592.9	$	—	$	592.9	$	587.1	$	—	$	587.1

Definite lived
Trade names and brands	$	339.6	$	88.1	$	251.5	$	339.4	$	72.2	$	267.2
Technology and patents	79.4		76.2		3.2		77.8		75.0		2.8
Customer related and other	269.8		143.6		126.2		267.1		127.5		139.6
Amortizable intangible assets	$	688.8	$	307.9	$	380.9	$	684.3	$	274.7	$	409.5
Total intangible assets	$	1,281.7	$	307.9	$	973.8	$	1,271.4	$	274.7	$	996.6

Amortization expense for intangible assets was $30.8, $29.4 and $22.0 for fiscal 2023, 2022 and 2021, respectively.

Estimated amortization expense for amortizable intangible assets is as follows:


	Estimated amortization expense
Fiscal 2024	$	31.0
Fiscal 2025	$	31.0
Fiscal 2026	$	30.6
Fiscal 2027	$	30.4
Fiscal 2028	$	30.3
Thereafter	$	227.6

Goodwill and intangible assets deemed to have an indefinite life are not amortized but are instead reviewed annually in the fourth quarter of each fiscal year 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.

Indefinite-lived intangible assets

The Company’s annual indefinite-lived intangible assets impairment testing was conducted on July 1, 2023 using the Company’s strategic plan. The Company elected to perform a qualitative test of impairment for all indefinite lived intangible assets with the exception of the Schick, Bulldog and the Carefree, o.b., Stayfree trade names. For the qualitative test of indefinite lived intangible assets, there were no significant events or adverse trends that could negatively impact the fair value of the intangible assets. For the Schick, Bulldog, and the Carefree, o.b., Stayfree trade names, the Company elected to perform a quantitative impairment test in fiscal 2023 using the Company’s strategic plan to calculate a five-year cash flow. The annual impairment assessment of the indefinite-lived intangible assets concluded there was no indication of impairment of the Company’s indefinite-lived intangible assets. The Company performed an assessment in the fourth quarter of fiscal 2023 to determine if any significant events or changes in circumstances had occurred that would be considered a potential triggering event. The Company did not identify a triggering event that would indicate the existence of any impairment of the indefinite-lived intangible assets.

Goodwill

The Company performed its annual goodwill impairment analysis as of July 1, 2023. The Company elected to perform a qualitative test of goodwill impairment for the Sun Care and Fem Care reporting units and determined there were no significant events or adverse trends that could negatively impact the fair value of the business. For the Wet Shave and Skin Care reporting units, the Company elected to perform a quantitative impairment test in fiscal 2023 using the Company’s strategic plan to calculate a five-year cash flow. The annual impairment assessment of the reporting units concluded there was no indication of impairment of the Company’s reporting units.