XML 36 R24.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Business Segments | 6 Months Ended
--- | ---
Sep. 30, 2016
Segment Reporting [Abstract] |
Business Segments | Business Segments Segment information has been prepared in accordance with the Segment Reporting topic of the FASB ASC 280. Our current reportable segments consist of (i) North American OTC Healthcare, (ii) International OTC Healthcare and (iii) Household Cleaning. We evaluate the performance of our operating segments and allocate resources to these segments based primarily on contribution margin, which we define as gross profit less advertising and promotional expenses. The tables below summarize information about our reportable segments.
| Three Months Ended September 30, 2016
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Gross segment revenues | $ | 172,590 |  |  | $ | 18,802 |  |  | $ | 23,768 |  |  | $ | 215,160 |
Elimination of intersegment revenues | (143 | ) |  | — |  |  | — |  |  | (143 | )
Third-party segment revenues | 172,447 |  |  | 18,802 |  |  | 23,768 |  |  | 215,017 |
Other revenues | — |  |  | 2 |  |  | 33 |  |  | 35 |
Total segment revenues | 172,447 |  |  | 18,804 |  |  | 23,801 |  |  | 215,052 |
Cost of sales | 65,402 |  |  | 7,096 |  |  | 18,589 |  |  | 91,087 |
Gross profit | 107,045 |  |  | 11,708 |  |  | 5,212 |  |  | 123,965 |
Advertising and promotion | 24,811 |  |  | 3,244 |  |  | 537 |  |  | 28,592 |
Contribution margin | $ | 82,234 |  |  | $ | 8,464 |  |  | $ | 4,675 |  |  | 95,373 |
Other operating expenses* |  |  |  |  |  |  |  |  | 24,315 |
Operating income |  |  |  |  |  |  |  |  | 71,058 |
Other expense |  |  |  |  |  |  |  |  | 20,830 |
Income before income taxes |  |  |  |  |  |  | 50,228 |
Provision for income taxes |  |  |  |  |  |  |  |  | 18,033 |
Net income |  |  |  |  |  |  | $ | 32,195 |
*Other operating expenses for the three months ended September 30, 2016 includes a pre-tax loss on sale of assets of $0.7 million related to Pediacare, New Skin, and Fiber Choice and a pre-tax gain on sale of assets of $1.2 million associated with the sale of license rights in certain geographic areas pertaining to Comet. The assets and corresponding contribution margin associated with the pre-tax loss on sale of assets related to Pediacare, New Skin, and Fiber Choice are included within the North American OTC Healthcare segment, while the pre-tax gain on sale of license rights related to Comet are included in the Household Cleaning segment.
| Six Months Ended September 30, 2016
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Gross segment revenues | $ | 345,891 |  |  | $ | 34,602 |  |  | $ | 44,658 |  |  | $ | 425,151 |
Elimination of intersegment revenues | (1,364 | ) |  | — |  |  | — |  |  | (1,364 | )
Third-party segment revenues | 344,527 |  |  | 34,602 |  |  | 44,658 |  |  | 423,787 |
Other revenues | — |  |  | 6 |  |  | 834 |  |  | 840 |
Total segment revenues | 344,527 |  |  | 34,608 |  |  | 45,492 |  |  | 424,627 |
Cost of sales | 129,636 |  |  | 14,044 |  |  | 35,391 |  |  | 179,071 |
Gross profit | 214,891 |  |  | 20,564 |  |  | 10,101 |  |  | 245,556 |
Advertising and promotion | 49,851 |  |  | 5,368 |  |  | 1,008 |  |  | 56,227 |
Contribution margin | $ | 165,040 |  |  | $ | 15,196 |  |  | $ | 9,093 |  |  | 189,329 |
Other operating expenses* |  |  |  |  |  |  |  |  | 106,057 |
Operating income |  |  |  |  |  |  |  |  | 83,272 |
Other expense |  |  |  |  |  |  |  |  | 41,957 |
Income before income taxes |  |  |  |  |  |  | 41,315 |
Provision for income taxes |  |  |  |  |  |  |  |  | 14,651 |
Net income |  |  |  |  |  |  | $ | 26,664 |
*Other operating expenses for the six months ended September 30, 2016 includes a pre-tax loss on sale of assets of $56.2 million related to Pediacare, New Skin, and Fiber Choice and a pre-tax gain on sale of assets of $1.2 million associated with the sale of license rights in certain geographic areas pertaining to Comet. The assets and corresponding contribution margin associated with the pre-tax loss on sale of assets related to Pediacare, New Skin, and Fiber Choice are included within the North American OTC Healthcare segment, while the pre-tax gain on sale of license rights related to Comet are included in the Household Cleaning segment.
| Three Months Ended September 30, 2015
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Gross segment revenues** | $ | 166,886 |  |  | $ | 15,954 |  |  | $ | 23,894 |  |  | $ | 206,734 |
Elimination of intersegment revenues | (1,472 | ) |  | — |  |  | — |  |  | (1,472 | )
Third-party segment revenues | 165,414 |  |  | 15,954 |  |  | 23,894 |  |  | 205,262 |
Other revenues** | — |  |  | 6 |  |  | 797 |  |  | 803 |
Total segment revenues | 165,414 |  |  | 15,960 |  |  | 24,691 |  |  | 206,065 |
Cost of sales** | 61,497 |  |  | 6,094 |  |  | 18,534 |  |  | 86,125 |
Gross profit | 103,917 |  |  | 9,866 |  |  | 6,157 |  |  | 119,940 |
Advertising and promotion | 24,440 |  |  | 2,777 |  |  | 676 |  |  | 27,893 |
Contribution margin | $ | 79,477 |  |  | $ | 7,089 |  |  | $ | 5,481 |  |  | 92,047 |
Other operating expenses |  |  |  |  |  |  |  |  | 22,149 |
Operating income |  |  |  |  |  |  |  |  | 69,898 |
Other expense |  |  |  |  |  |  |  |  | 20,667 |
Income before income taxes |  |  |  |  |  |  | 49,231 |
Provision for income taxes |  |  |  |  |  |  |  |  | 17,428 |
Net income |  |  |  |  |  |  | $ | 31,803 |
| Six Months Ended September 30, 2015
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Gross segment revenues** | $ | 323,978 |  |  | $ | 29,410 |  |  | $ | 45,361 |  |  | $ | 398,749 |
Elimination of intersegment revenues | (2,200 | ) |  | — |  |  | — |  |  | (2,200 | )
Third-party segment revenues | 321,778 |  |  | 29,410 |  |  | 45,361 |  |  | 396,549 |
Other revenues** | 15 |  |  | 31 |  |  | 1,602 |  |  | 1,648 |
Total segment revenues | 321,793 |  |  | 29,441 |  |  | 46,963 |  |  | 398,197 |
Cost of sales** | 119,624 |  |  | 11,383 |  |  | 35,014 |  |  | 166,021 |
Gross profit | 202,169 |  |  | 18,058 |  |  | 11,949 |  |  | 232,176 |
Advertising and promotion | 47,635 |  |  | 5,500 |  |  | 1,180 |  |  | 54,315 |
Contribution margin | $ | 154,534 |  |  | $ | 12,558 |  |  | $ | 10,769 |  |  | 177,861 |
Other operating expenses |  |  |  |  |  |  |  |  | 45,458 |
Operating income |  |  |  |  |  |  |  |  | 132,403 |
Other expense |  |  |  |  |  |  |  |  | 43,002 |
Income before income taxes |  |  |  |  |  |  | 89,401 |
Provision for income taxes |  |  |  |  |  |  |  |  | 31,425 |
Net income |  |  |  |  |  |  | $ | 57,976 |
**Certain immaterial amounts relating to gross segment revenues, other revenues and cost of sales for each of the three and six months ended September 30, 2015 were reclassified between the International OTC Healthcare segment and the North American OTC Healthcare segment. There were no changes to the consolidated financial statements for any periods presented. The tables below summarize information about our segment revenues from similar product groups.
| Three Months Ended September 30, 2016
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Analgesics | $ | 29,993 |  |  | $ | 544 |  |  | $ | — |  |  | $ | 30,537 |
Cough & Cold | 21,106 |  |  | 5,160 |  |  | — |  |  | 26,266 |
Women's Health | 33,268 |  |  | 635 |  |  | — |  |  | 33,903 |
Gastrointestinal | 16,280 |  |  | 6,088 |  |  | — |  |  | 22,368 |
Eye & Ear Care | 22,934 |  |  | 2,989 |  |  | — |  |  | 25,923 |
Dermatologicals | 22,952 |  |  | 567 |  |  | — |  |  | 23,519 |
Oral Care | 24,368 |  |  | 2,820 |  |  | — |  |  | 27,188 |
Other OTC | 1,546 |  |  | 1 |  |  | — |  |  | 1,547 |
Household Cleaning | — |  |  | — |  |  | 23,801 |  |  | 23,801 |
Total segment revenues | $ | 172,447 |  |  | $ | 18,804 |  |  | $ | 23,801 |  |  | $ | 215,052 |
| Six Months Ended September 30, 2016
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Analgesics | $ | 58,119 |  |  | $ | 1,071 |  |  | $ | — |  |  | $ | 59,190 |
Cough & Cold | 39,073 |  |  | 9,552 |  |  | — |  |  | 48,625 |
Women's Health | 66,155 |  |  | 1,571 |  |  | — |  |  | 67,726 |
Gastrointestinal | 35,386 |  |  | 10,344 |  |  | — |  |  | 45,730 |
Eye & Ear Care | 48,941 |  |  | 5,785 |  |  | — |  |  | 54,726 |
Dermatologicals | 45,650 |  |  | 1,238 |  |  | — |  |  | 46,888 |
Oral Care | 48,179 |  |  | 5,037 |  |  | — |  |  | 53,216 |
Other OTC | 3,024 |  |  | 10 |  |  | — |  |  | 3,034 |
Household Cleaning | — |  |  | — |  |  | 45,492 |  |  | 45,492 |
Total segment revenues | $ | 344,527 |  |  | $ | 34,608 |  |  | $ | 45,492 |  |  | $ | 424,627 |
| Three Months Ended September 30, 2015
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Analgesics | $ | 29,694 |  |  | $ | 688 |  |  | $ | — |  |  | $ | 30,382 |
Cough & Cold | 24,456 |  |  | 4,746 |  |  | — |  |  | 29,202 |
Women's Health | 33,607 |  |  | 804 |  |  | — |  |  | 34,411 |
Gastrointestinal | 19,061 |  |  | 5,342 |  |  | — |  |  | 24,403 |
Eye & Ear Care | 24,163 |  |  | 3,578 |  |  | — |  |  | 27,741 |
Dermatologicals | 23,197 |  |  | 611 |  |  | — |  |  | 23,808 |
Oral Care | 9,733 |  |  | 189 |  |  | — |  |  | 9,922 |
Other OTC | 1,503 |  |  | 2 |  |  | — |  |  | 1,505 |
Household Cleaning | — |  |  | — |  |  | 24,691 |  |  | 24,691 |
Total segment revenues | $ | 165,414 |  |  | $ | 15,960 |  |  | $ | 24,691 |  |  | $ | 206,065 |
| Six Months Ended September 30, 2015
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Analgesics | $ | 56,542 |  |  | $ | 1,218 |  |  | $ | — |  |  | $ | 57,760 |
Cough & Cold | 44,215 |  |  | 9,252 |  |  | — |  |  | 53,467 |
Women's Health | 66,515 |  |  | 1,504 |  |  | — |  |  | 68,019 |
Gastrointestinal | 39,381 |  |  | 9,150 |  |  | — |  |  | 48,531 |
Eye & Ear Care | 49,223 |  |  | 6,780 |  |  | — |  |  | 56,003 |
Dermatologicals | 43,292 |  |  | 1,145 |  |  | — |  |  | 44,437 |
Oral Care | 19,710 |  |  | 383 |  |  | — |  |  | 20,093 |
Other OTC | 2,915 |  |  | 9 |  |  | — |  |  | 2,924 |
Household Cleaning | — |  |  | — |  |  | 46,963 |  |  | 46,963 |
Total segment revenues | $ | 321,793 |  |  | $ | 29,441 |  |  | $ | 46,963 |  |  | $ | 398,197 |
During the three months ended September 30, 2016 and 2015, approximately 85.8% of our total segment revenues were from customers in the United States. During the six months ended September 30, 2016 and 2015, approximately 86.7% and 86.5%, respectively, of our total segment revenues were from customers in the United States. Other than the United States, no individual geographical area accounted for more than 10% of net sales in any of the periods presented. During the three months ended September 30, 2016, our Canada and Australia sales accounted for approximately 5.4% and 5.9%, respectively, of our total segment revenues, while during the three months ended September 30, 2015, approximately 5.5% and 6.8%, respectively, of our total segment revenues were attributable to sales to Canada and Australia. During the six months ended September 30, 2016, our Canada and Australia sales accounted for approximately 5.1% and 5.5%, respectively, of our total segment revenues, while during the six months ended September 30, 2015, approximately 5.3% and 6.3%, respectively, of our total segment revenues were attributable to sales to Canada and Australia. At September 30, 2016 and March 31, 2016, approximately 95.7% of our consolidated goodwill and intangible assets were located in the United States and approximately 4.3% were located in Australia and the United Kingdom. These consolidated goodwill and intangible assets have been allocated to the reportable segments as follows:
September 30, 2016 (In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Goodwill | $ | 322,945 |  |  | $ | 22,472 |  |  | $ | 6,245 |  |  | $ | 351,662 |
Intangible assets |  |  |  |  |  |  |  |
Indefinite-lived | 1,755,636 |  |  | 85,520 |  |  | 101,262 |  |  | 1,942,418 |
Finite-lived | 215,817 |  |  | 1,087 |  |  | 21,806 |  |  | 238,710 |
Intangible assets, net | 1,971,453 |  |  | 86,607 |  |  | 123,068 |  |  | 2,181,128 |
Total | $ | 2,294,398 |  |  | $ | 109,079 |  |  | $ | 129,313 |  |  | $ | 2,532,790 |
March 31, 2016 (In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Goodwill | $ | 330,615 |  |  | $ | 22,776 |  |  | $ | 6,800 |  |  | $ | 360,191 |
Intangible assets |  |  |  |  |  |  |  |
Indefinite-lived | 1,823,873 |  |  | 85,901 |  |  | 110,272 |  |  | 2,020,046 |
Finite-lived | 277,762 |  |  | 2,237 |  |  | 22,678 |  |  | 302,677 |
Intangible assets, net | 2,101,635 |  |  | 88,138 |  |  | 132,950 |  |  | 2,322,723 |
Total | $ | 2,432,250 |  |  | $ | 110,914 |  |  | $ | 139,750 |  |  | $ | 2,682,914 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration