Goodwill and Other Intangible Assets

12 Months Ended

Jun. 30, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

(6) Goodwill and Other Intangible Assets

As of June 30, 2014 and June 30, 2013, there was goodwill of $66,516 and $33,526, respectively.

Changes in the Company’s goodwill during 2014 and 2013 are as follows:

Balance as of July 1, 2012	$	33,495
Changes in foreign currency exchange rates		31
Balance as of July 1, 2013		33,526
Acquisitions		32,944
Changes in foreign currency exchange rates		46
Balance as of June 30, 2014	$	66,516

The 2014 balance includes $32,722 related to the PACK acquisition which occurred on April 30, 2014 and is part of the Human Health reportable segment.

Intangible assets subject to amortization as of June 30, 2014 and 2013 were as follows:

	Gross Carrying Value		Accumulated Amortization		Net Book Value
June 30, 2014

Customer relationships	$	22,292	$	4,782	$	17,510
Trademarks		1,886		1,711		175
Product rights and related intangibles		72,626		10,146		62,480
License agreements		5,938		3,642		2,296
EPA registrations and related data		11,969		7,469		4,500
Technology-based intangibles		155		96		59
	$	114,866	$	27,846	$	87,020

	Gross Carrying Value		Accumulated Amortization		Net Book Value
June 30, 2013

Customer relationships	$	7,320	$	3,946	$	3,374
Trademarks		1,700		1,215		485
Product rights and related intangibles		34,346		6,767		27,579
License agreements		5,938		2,715		3,223
EPA registrations and related data		11,523		6,325		5,198
Technology-based intangibles		155		74		81
	$	60,982	$	21,042	$	39,940

Intangible assets with definitive useful lives are amortized using the straight-line method over their estimated useful lives. The straight-line method is utilized as it best reflects the use of the asset. The estimated useful lives of customer relationships, trademarks, product rights and related intangibles, license agreements, EPA registrations and related data and technology-based intangibles are 7-11 years, 3-4 years, 3-14 years, 6-11 years, 10 years, and 7 years, respectively.

As of June 30, 2014 and June 30, 2013, the Company also had $935 and $891, respectively, of intangible assets pertaining to trademarks which have indefinite lives and are not subject to amortization. The change in trademarks with indefinite lives is attributable to foreign currency exchange rates used to translate the financial statements of foreign subsidiaries.

Amortization expense for intangible assets subject to amortization amounted to $6,662, $5,629 and $5,625 for the years ended June 30, 2014, 2013 and 2012, respectively. The estimated aggregate amortization expense for intangible assets subject to amortization for each of the succeeding years ended June 30, 2015 through June 30, 2020 are as follows: 2015: $10,200; 2016: $10,143; 2017: $9,393; 2018: $8,597; 2019: $8,164 and 2020 and thereafter: $40,523.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details