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Goodwill and Other Intangible Assets | 12 Months Ended
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May 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | NOTE C — GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill, by reportable segment, for the years ended May 31, 2020 and 2019, are as follows:
|  | CPG |  |  | PCG |  |  | Consumer |  |  | SPG |  |  |  |  |
(In thousands) |  | Segment |  |  | Segment |  |  | Segment |  |  | Segment |  |  | Total |
Balance as of June 1, 2018 |  | $ | 372,033 |  |  | $ | 186,775 |  |  | $ | 477,718 |  |  | $ | 155,648 |  |  | $ | 1,192,174 |
Acquisitions |  |  | 47,151 |  |  |  | 4,314 |  |  |  | 25,994 |  |  |  |  |  |  |  | 77,459 |
Translation adjustments & other |  |  | (11,755 | ) |  |  | (5,830 | ) |  |  | (4,325 | ) |  |  | (1,961 | ) |  |  | (23,871 | )
Balance as of May 31, 2019 |  |  | 407,429 |  |  |  | 185,259 |  |  |  | 499,387 |  |  |  | 153,687 |  |  |  | 1,245,762 |
Acquisitions |  |  | 14,689 |  |  |  | 3,023 |  |  |  |  |  |  |  | 10,352 |  |  |  | 28,064 |
Translation adjustments & other (1) |  |  | (16,764 | ) |  |  | (2,878 | ) |  |  | (3,169 | ) |  |  | (949 | ) |  |  | (23,760 | )
Balance as of May 31, 2020 |  | $ | 405,354 |  |  | $ | 185,404 |  |  | $ | 496,218 |  |  | $ | 163,090 |  |  | $ | 1,250,066 |
(1) | Activity includes a $2.3 million decrease to goodwill within our Consumer segment related to adjustments to preliminary purchase price allocations, primarily due to deferred tax adjustments.
Total accumulated goodwill impairment losses were $156.3 million at May 31, 2020. Of the accumulated balance, $141.4 million was recorded during the fiscal year ended May 31, 2017 by a reporting unit that at the time was included in our Consumer segment and is now included in our SPG segment, and $14.9 million was recorded during the fiscal year ended May 31, 2009 by a reporting unit that at the time was included in our former Industrial reportable segment and is now included in our CPG segment. There were no impairment losses recorded during fiscal 2020, 2019 or 2018. Other intangible assets consist of the following major classes:
|  |  |  | Gross |  |  |  |  |  |  | Net Other |
|  | Amortization |  | Carrying |  |  | Accumulated |  |  | Intangible |
(In thousands) |  | Period (In Years) |  | Amount |  |  | Amortization |  |  | Assets |
As of May 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortized intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Formulae |  | 9 to 33 |  | $ | 230,621 |  |  | $ | (160,771 | ) |  | $ | 69,850 |
Customer-related intangibles |  | 5 to 33 |  |  | 439,153 |  |  |  | (197,752 | ) |  |  | 241,401 |
Trademarks/names |  | 5 to 40 |  |  | 30,700 |  |  |  | (17,224 | ) |  |  | 13,476 |
Other |  | 1 to 33 |  |  | 32,224 |  |  |  | (23,281 | ) |  |  | 8,943 |
Total Amortized Intangibles |  |  |  |  | 732,698 |  |  |  | (399,028 | ) |  |  | 333,670 |
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks/names |  |  |  |  | 250,710 |  |  |  |  |  |  |  | 250,710 |
Total Other Intangible Assets |  |  |  | $ | 983,408 |  |  | $ | (399,028 | ) |  | $ | 584,380 |
As of May 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortized intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Formulae |  | 9 to 33 |  | $ | 227,208 |  |  | $ | (150,091 | ) |  | $ | 77,117 |
Customer-related intangibles |  | 5 to 33 |  |  | 413,475 |  |  |  | (172,238 | ) |  |  | 241,237 |
Trademarks/names |  | 5 to 40 |  |  | 32,998 |  |  |  | (16,867 | ) |  |  | 16,131 |
Other |  | 1 to 33 |  |  | 36,709 |  |  |  | (26,599 | ) |  |  | 10,110 |
Total Amortized Intangibles |  |  |  |  | 710,390 |  |  |  | (365,795 | ) |  |  | 344,595 |
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks/names |  |  |  |  | 256,487 |  |  |  |  |  |  |  | 256,487 |
Total Other Intangible Assets |  |  |  | $ | 966,877 |  |  | $ | (365,795 | ) |  | $ | 601,082 |
The aggregate intangible asset amortization expense for the fiscal years ended May 31, 2020, 2019 and 2018 was $45.6 million, $45.1 million and $43.2 million, respectively. For the next five fiscal years, we estimate annual intangible asset amortization expense related to our existing intangible assets to approximate the following: 2021 — $42.1 million, 2022 — $40.8 million, 2023 — $37.1 million, 2024 — $33.9 million and 2025 — $29.1 million. Total gross accumulated intangible asset impairment losses were $61.8 million at May 31, 2020, and were recorded in the following fiscal years: 2009 - $0.6 million was recorded by our former Industrial reportable segment; 2017 - $53.0 million was recorded at the time by our Consumer segment; 2018 - There were no impairment losses recorded during fiscal 2018; 2019 - $4.2 million of total other intangible asset impairment losses were recorded, of which $2.0 million was recorded by our CPG reportable segment for impairment losses on trade names and approximately $2.2 million was recorded by our SPG reportable segment for impairment losses on customer-related intangibles; and 2020 - $4.0 million was recorded in our Consumer reportable segment for impairment losses related to the discontinuation of a trade name, and this amount was included in restructuring expense as this discontinuation occurred in connection with our 2020 MAP to Growth.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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