GOODWILL AND INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Effective January 1, 2018, the Company implemented its brand-centric organizational structure which is built around four global brand teams: Revlon; Elizabeth Arden; Portfolio; and Fragrances, which also represent the Company's reporting segments. Concurrent with the change in reporting segments, goodwill was reassigned to the affected reporting units that have been identified within each reporting segment using a relative fair value allocation approach as outlined in ASC 350, Intangibles - Goodwill and Other.

The following table presents the amount of goodwill that has been reassigned to each of the Company's reportable segments, following the relative fair value allocation approach, as well as any changes in goodwill by segment during the three months ended March 31, 2018:



	Revlon		Portfolio		Elizabeth Arden		Fragrances		Total
Balance at December 31, 2017	$	265.3	$	189.5	$	116.9	$	120.8	$	692.5
Foreign currency translation adjustment	0.2		0.1		—		—		0.3
Balance at March 31, 2018	$	265.5	$	189.6	$	116.9	$	120.8	$	692.8

Cumulative goodwill impairment charges^(a)									$	37.2

^(a)Cumulative goodwill impairment charges relate to impairments recognized in 2015 and 2017; no impairment charges were recognized during the first quarter of 2018.

Intangible Assets, Net

The following tables present details of the Company's total intangible assets as of March 31, 2018 and December 31, 2017:



	March 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted-Average Useful Life (in Years)
Finite-lived intangible assets:
Trademarks and licenses	$	272.5	$	(77.0	)	$	195.5	13
Customer relationships	251.2		(52.6		)	198.6		13
Patents and internally-developed IP	20.8		(8.7		)	12.1		6
Distribution rights	31.0		(2.7		)	28.3		16
Other	1.3		(0.7		)	0.6		1
Total finite-lived intangible assets	$	576.8	$	(141.7	)	$	435.1

Indefinite-lived intangible assets:
Trade names	$	149.6	N/A			$	149.6
Total indefinite-lived intangible assets	$	149.6	N/A			$	149.6

Total intangible assets	$	726.4	$	(141.7	)	$	584.7

	December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted-Average Useful Life (in Years)
Finite-lived intangible assets:
Trademarks and licenses	$	271.4	$	(72.8	)	$	198.6	13
Customer relationships	250.6		(46.8		)	203.8		13
Patents and internally-developed IP	20.8		(8.4		)	12.4		7
Distribution rights	31.0		(2.3		)	28.7		17
Other	1.3		(0.6		)	0.7		2
Total finite-lived intangible assets	$	575.1	$	(130.9	)	$	444.2

Indefinite-lived intangible assets:
Trade names	$	147.9	N/A			$	147.9
Total indefinite-lived intangible assets	$	147.9	N/A			$	147.9

Total intangible assets	$	723.0	$	(130.9	)	$	592.1

Amortization expense for finite-lived intangible assets was $10 million and $11.9 million for the three months ended March 31, 2018 and 2017, respectively.

The following table reflects the estimated future amortization expense for each period presented, a portion of which is subject to exchange rate fluctuations, for the Company's finite-lived intangible assets as of March 31, 2018:



	Estimated Amortization Expense
2018	$	30.7
2019	37.9
2020	37.1
2021	36.1
2022	34.7
Thereafter	258.6
Total	$	435.1

- 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.

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