Goodwill and Intangible Assets

9 Months Ended

Jun. 30, 2025

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 as of September 30, 2024	$	1,146.0	$	357.4	$	206.2	$	1,709.6
Accumulated goodwill impairment	(369.0)		(2.0)		—		(371.0)
Net balance as of September 30, 2024	$	777.0	$	355.4	$	206.2	$	1,338.6

Changes in the nine months ended June 30, 2025
Cumulative translation adjustment	$	4.1	$	0.4	$	(0.2)	$	4.3

Gross balance as of June 30, 2025	$	1,150.1	$	357.8	$	206.0	$	1,713.9
Accumulated goodwill impairment	(369.0)		(2.0)		—		(371.0)
Net balance as of June 30, 2025	$	781.1	$	355.8	$	206.0	$	1,342.9

The following table sets forth intangible assets by class:


	June 30, 2025						September 30, 2024
	Carrying Amount		Accumulated Amortization		Net		Carrying Amount		Accumulated Amortization		Net
Indefinite lived
Trade names and brands	$	601.7	$	—	$	601.7	$	597.7	$	—	$	597.7

Amortizable
Trade names and brands	$	340.0	$	116.0	$	224.0	$	339.8	$	104.0	$	235.8
Technology and patents	80.2		78.2		2.0		79.7		77.3		2.4
Customer related and other	273.3		171.7		101.6		272.5		159.9		112.6
Amortizable intangible assets	693.5		365.9		327.6		692.0		341.2		350.8
Total intangible assets	$	1,295.2	$	365.9	$	929.3	$	1,289.7	$	341.2	$	948.5

Amortization expense was $7.8 and $23.3 for the three and nine months ended June 30, 2025, respectively. Amortization expense was $7.7 and $23.3 for the three and nine months ended June 30, 2024, respectively. Estimated amortization expense for amortizable intangible assets is as follows:


	Estimated amortization expense
Remainder of fiscal year 2025	$	7.8
2026	30.8
2027	30.6
2028	30.5
2029	30.5
2030	30.5
Thereafter	166.9

Goodwill and intangible assets deemed to have an indefinite life are not amortized but are instead reviewed annually for impairment or when indicators of a potential impairment are present. The Company’s annual impairment testing date is July 1. 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. The Company continuously monitors events which could trigger an interim impairment analysis, such as changing business conditions, our financial performance and our market capitalization.

During the third quarter of 2025, we identified a triggering event for our Feminine Care reporting unit which required us to complete an interim impairment analysis because of the business’s financial performance. The interim impairment review was also performed on the indefinite-lived trade names for Carefree/Stayfree/o.b.. As a result of the interim impairment analysis for goodwill and indefinite-lived intangible assets, no impairment charge was recorded for the three and nine months ended June 30, 2025 as the fair values exceeded carrying value.

The Company performed an interim impairment analysis for the Feminine Care reporting unit using financial information through June 30, 2025 and forecasts for cash flows developed using the Company's three-year strategic plan. The analysis was completed in a manner consistent with the annual impairment test using a weighted income approach and market approach. The income approach used the reporting unit’s projections of estimated operating results and cash flows that are discounted using a market participant discount rate based on a weighted average cost of capital. The market approach used market multiples of comparable companies. The results of the impairment analysis indicated that the fair value of the Feminine Care reporting unit exceeded its carrying value as of June 30, 2025 by less than 10%. Key assumptions used in valuing the reporting unit included a weighted average cost of capital of 12.0% and terminal growth rate of 2.5%. Unfavorable fluctuations in the discount rates or declines in forecasted sales and margins could result in impairment of our reporting units and indefinite-lived trade names. The Company will continue to evaluate the fair value of goodwill and intangible assets through the fourth quarter of fiscal 2025 for potential impairment.