XML 31 R13.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Goodwill | 12 Months Ended
--- | ---
Mar. 31, 2017
Goodwill [Abstract] |
Goodwill | Goodwill The following table summarizes the changes in the carrying value of goodwill by operating segment for each of 2015, 2016, and 2017:
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Balance – March 31, 2014 | 160,157 |  |  | 23,365 |  |  | 7,389 |  |  | 190,911 |
2015 additions | 103,254 |  |  | 1,224 |  |  | — |  |  | 104,478 |
2015 reductions | — |  |  | — |  |  | (589 | ) |  | (589 | )
Effects of foreign currency exchange rates | — |  |  | (4,149 | ) |  | — |  |  | (4,149 | )
Balance – March 31, 2015 | 263,411 |  |  | 20,440 |  |  | 6,800 |  |  | 290,651 |
2016 additions | 74,441 |  |  | 2,393 |  |  | — |  |  | 76,834 |
2016 reductions | (7,237 | ) |  | — |  |  | — |  |  | (7,237 | )
Effects of foreign currency exchange rates | — |  |  | (57 | ) |  | — |  |  | (57 | )
Balance - March 31, 2016 | 330,615 |  |  | 22,776 |  |  | 6,800 |  |  | 360,191 |
2017 additions | 258,438 |  |  | 10,139 |  |  | — |  |  | 268,577 |
2017 reductions | (12,600 | ) |  | — |  |  | (555 | ) |  | (13,155 | )
Effects of foreign currency exchange rates | — |  |  | (361 | ) |  | — |  |  | (361 | )
Balance - March 31, 2017 | $ | 576,453 |  |  | $ | 32,554 |  |  | $ | 6,245 |  |  | $ | 615,252 |
As discussed in Note 2, we completed two acquisitions during the year ended March 31, 2015. On September 3, 2014, we completed the acquisition of Insight and recorded goodwill of $96.3 million, reflecting the amount by which the purchase price exceeded the preliminary estimate of fair value of net assets acquired, after giving affect to the following adjustments. During the quarter ended June 30, 2015, we increased goodwill by $0.3 million for certain immaterial items. During the quarter ending December 31, 2015, we decreased goodwill by $7.2 million, as we received that amount from escrow pursuant to an arbitrator's ruling in December 31, 2015 related to a disputed working capital calculation, as determined under GAAP, associated with the Insight acquisition, which is clearly and directly related to the purchase price. Additionally, on April 30, 2014, we completed the acquisition of the Hydralyte brand and recorded goodwill of $1.2 million, reflecting the amount by which the purchase price exceeded the preliminary estimate of fair value of the net assets acquired. As further discussed in Note 8, in December 2014, we completed a transaction to sell rights to use of the Comet brand in certain Eastern European countries to a third-party licensee. As a result, we recorded a gain on the sale of $1.3 million and reduced the carrying value of our intangible assets and goodwill. In August 2016, we sold the remaining rights to the use of the Comet brand in certain geographic areas and reduced goodwill by $0.6 million as a result. As discussed in Note 2, on February 5, 2016, we completed the acquisition of DenTek. In connection with this acquisition, we recorded goodwill of $73.7 million based on the amount by which the purchase price exceeded the fair value of net assets acquired. In December 2016, we received $1.4 million as a result of an arbitration associated with the DenTek acquisition. As a result, we reduced goodwill by $2.8 million, including other post-closing adjustments of $1.4 million. As discussed in Note 2, on January 26, 2017, we completed the acquisition of Fleet. In connection with this acquisition, we recorded goodwill of $268.6 million based on the amount by which the purchase price exceeded the fair value of the net assets acquired. On July 7, 2016, we completed the sale of Pediacare, New Skin and Fiber Choice (see Note 3 above for further details) for $40.0 million plus the cost of inventory and received $40.1 million including preliminary inventory, less certain immaterial holdbacks, and reduced goodwill by $2.9 million as a result. In addition, as discussed in Note 3, in connection with this sale, the buyer exercised its option to purchase the Dermoplast brand. The sale of Dermoplast was completed on December 30, 2016 and, as a result, we reduced goodwill by $5.5 million. On December 28, 2016, we completed the sale of the e.p.t brand and, as a result, we reduced goodwill by $1.4 million. Under accounting guidelines, goodwill is not amortized, but must be tested for impairment annually, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below the carrying amount. At February 28, 2017 and February 29, 2016, in conjunction with the annual test for goodwill impairment, there were no indicators of impairment under the analysis. Accordingly, no impairment charge was recorded in 2017 or 2016. We identify our reporting units in accordance with the FASB ASC Subtopic 280. The carrying value and fair value for intangible assets and goodwill for a reporting unit are calculated based on key assumptions and valuation methodologies previously discussed. The discounted cash flow methodology is a widely-accepted valuation technique utilized by market participants in the transaction evaluation process and has been applied consistently. We also considered our market capitalization at February 28, 2017 and February 29, 2016, as compared to the aggregate fair values of our reporting units, to assess the reasonableness of our estimates pursuant to the discounted cash flow methodology. The estimates and assumptions made in assessing the fair value of our reporting units and the valuation of the underlying assets and liabilities are inherently subject to significant uncertainties. Consequently, changing rates of interest and inflation, declining sales or margins, increases in competition, changing consumer preferences, technical advances, or reductions in advertising and promotion may require an impairment charge to be recorded in the future. The aggregate fair value of our reporting units, including the recently acquired Fleet business which was recently fair valued, exceeded the carrying value by 53.0% with no reporting unit's fair value exceeding the carrying value by less than 10%.

X
- Definition Goodwill [Abstract] + References No definition available. + Details
Name: | pbh_GoodwillAbstract
Namespace Prefix: | pbh_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill. + References No definition available. + Details
Name: | us-gaap_GoodwillDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration