GOODWILL AND INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

In accordance with ASC Topic 350, “Intangibles – Goodwill and Other,” the Company performs its annual impairment test during the fourth quarter of each year. The Company also reviews goodwill for impairment whenever events or changes in circumstances indicate that the carrying value of its goodwill may not be recoverable. After the close of each interim quarter, management assesses whether there exists any indicators of impairment requiring the Company to perform an interim goodwill impairment analysis.

The following table presents the changes in goodwill by segment for the three months ended March 31, 2022:



	Revlon		Portfolio		Elizabeth Arden		Fragrances		Total




Balance at January 1, 2022	$	265.0	$	87.8	$	89.3	$	120.7	$	562.8
Foreign currency translation adjustment	(0.1)		(0.1)		—		(0.1)		(0.3)


Balance at March 31, 2022	$	264.9	$	87.7	$	89.3	$	120.6	$	562.5

Cumulative goodwill impairment charges(a)									$	(166.2)

(a) Amount refers to cumulative impairment charges recognized in 2020 and prior years. No impairment charges were recorded during the three months ended March 31, 2022.

The following tables present details of the Company's total intangible assets as of March 31, 2022 and December 31, 2021:


	March 31, 2022
	Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Useful Life (in Years)
Finite-lived intangible assets:
Trademarks and licenses	$	270.1	$	(146.2)	$	123.9	11
Customer relationships	246.9		(125.8)		121.1		9
Patents and internally-developed intellectual property	23.8		(17.8)		6.0		5
Distribution rights	31.0		(9.6)		21.4		12
Other	1.3		(1.3)		—		0
Total finite-lived intangible assets	$	573.1	$	(300.7)	$	272.4
Indefinite-lived intangible assets:
Trade names (a)	$	110.0	N/A		$	110.0
Total indefinite-lived intangible assets	$	110.0	N/A		$	110.0
Total intangible assets	$	683.1	$	(300.7)	$	382.4
	December 31, 2021
	Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted-Average Useful Life (in Years)
Finite-lived intangible assets:
Trademarks and licenses	$	270.8	$	(142.9)	$	127.9	12
Customer relationships	247.2		(122.7)		124.5		10
Patents and internally-developed intellectual property	23.8		(17.4)		6.4		5
Distribution rights	31.0		(9.2)		21.8		13
Other	1.3		(1.3)		—		0
Total finite-lived intangible assets	$	574.1	$	(293.5)	$	280.6
Indefinite-lived intangible assets:
Trade names (a)	$	111.6	N/A		$	111.6
Total indefinite-lived intangible assets	$	111.6	N/A		$	111.6
Total intangible assets	$	685.7	$	(293.5)	$	392.2

(a) Indefinite-lived trade names include accumulated impairment of $33.1 million from 2020.

Amortization expense for finite-lived intangible assets was $8.2 million and $8.4 million for the three months ended March 31, 2022 and 2021, respectively.