Goodwill And Other Intangible Assets

12 Months Ended

Jun. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill by reportable segment for the fiscal years ended June 30, 2012 and 2011 were as follows:



	US		United Kingdom			Rest of World			Total
Balance as of June 30, 2010	$	460,623	$	—		$	54,543		$	515,166
Acquisition activity	30,806		—			14,035			44,841
Translation and other adjustments, net	—		—			5,872			5,872
Balance as of June 30, 2011	$	491,429	$	—		$	74,450		$	565,879
Acquisition activity	—		123,482			—			123,482
Other adjustments	20,688		—			—			20,688
Translation and other adjustments, net	—		(2,882		)	(4,611		)	(7,493		)
Balance as of June 30, 2012	$	512,117	$	120,600		$	69,839		$	702,556

Cumulative goodwill impairment charges were $42,029 as of June 30, 2012, 2011 and 2010, which relate to the Company's United Kingdom and Continental Europe (which is included in "Rest of World" - see note 17) operating segments. Other adjustments during fiscal 2012 relate to the recording of deferred tax liabilities for acquired indefinite-lived intangible assets for certain acquisitions completed prior to 2009. The recording of such deferred tax liabilities increased the goodwill associated with those acquisitions. There was no impact to the Company's consolidated statement of income as a result of this adjustment.

The Company performs its annual test for goodwill impairment on the first day of the fourth quarter of its fiscal year. In addition, if and when events or circumstances change that would more likely than not reduce the fair value of any of its reporting units below their carrying value, an interim test is performed. The Company completed its annual impairment analysis for fiscal year 2012, which included a qualitative assessment for certain reporting units under the newly adopted guidance in ASU 2011-08 (see Note 2).

Amounts assigned to indefinite-life intangible assets primarily represent the values of trademarks and tradenames. At June 30, 2012, included in trademarks and other intangible assets on the balance sheet are $108,504 of intangible assets deemed to have a finite life which are being amortized over their estimated useful lives of 3 to 20 years. The following table reflects the components of trademarks and other intangible assets:



	June 30, 2012			June 30, 2011
Non-amortized intangible assets:
Trademarks and tradenames	$	230,945		$	176,822
Amortized intangible assets:
Other intangibles	108,504			48,923
Less: accumulated amortization	(29,071		)	(18,361		)
Net carrying amount	$	310,378		$	207,384

Amortization expense included in continuing operations was as follows:



	Fiscal Year ended June 30,
	2012		2011		2010
Amortization of intangible assets	$	9,150	$	5,333	$	2,307

Expected amortization expense over the next five fiscal years is as follows:



	Fiscal Year ended June 30,
	2013		2014		2015		2016		2017
Estimated amortization expense	$	10,159	$	9,847	$	9,740	$	8,945	$	8,763

The weighted average remaining amortization period of amortized intangible assets is 9.1 years.

- 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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