XML 327 R16.htm IDEA: XBRL DOCUMENT v3.25.1
GOODWILL AND INTANGIBLE ASSETS
3 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill

Changes in the carrying amount of goodwill, by reportable segment, were as follows (in millions):
December 31, 2024ImpairmentsCurrency translation adjustmentsMarch 29, 2025
CSCA(1)
$2,076.1 $— $3.4 $2,079.5 
CSCI(2)
1,244.1 (1.2)52.8 1,295.7 
Total goodwill$3,320.2 $(1.2)$56.2 $3,375.2 
(1) We had accumulated goodwill impairments of $6.1 million as of March 29, 2025 and December 31, 2024.
(2) We had accumulated goodwill impairments of $969.6 million and $968.4 million as of March 29, 2025 and December 31, 2024, respectively.

Richard Bittner Business Goodwill

On March 10, 2025, the Company signed a definitive agreement to sell the Richard Bittner Business to HBI Health & Beauty Innovations Limited. As a result, we determined an impairment indicator existed and prepared a quantitative goodwill impairment test. We determined the carrying value of this business exceeded the fair value and recorded an impairment charge of $1.2 million within our CSCI segment. On April 11, 2025, we completed the sale of the Richard Bittner Business to HBI Health & Beauty Innovations Limited (refer to Note 3 and Note 9).
Intangible Assets

Intangible assets and related accumulated amortization consisted of the following(1) (in millions):
 March 29, 2025December 31, 2024
 GrossAccumulated
Amortization
GrossAccumulated
Amortization
Indefinite-lived intangibles:
Trademarks, trade names, and brands$3.4 $— $3.3 $— 
In-process research and development1.9 — 1.9 — 
Total indefinite-lived intangibles$5.3 $— $5.2 $— 
Definite-lived intangibles:
Distribution and license agreements and supply agreements$104.7 $62.2 $101.9 $59.5 
Developed product technology, formulations, and product rights345.0 232.6 341.5 227.2 
Customer relationships and distribution networks1,802.9 1,167.4 1,750.6 1,112.3 
Trademarks, trade names, and brands2,396.0 729.7 2,301.5 672.8 
Non-compete agreements2.1 2.1 2.1 2.1 
Total definite-lived intangibles$4,650.7 $2,194.0 $4,497.6 $2,073.9 
Total intangible assets$4,656.0 $2,194.0 $4,502.8 $2,073.9 
(1) Certain intangible assets are denominated in currencies other than U.S. dollar; therefore, their gross and net carrying values are subject to foreign currency movements.

We recorded amortization expense of $54.8 million and $58.4 million for the three months ended March 29, 2025 and March 30, 2024, respectively.