XML 23 R8.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Acquisitions | 12 Months Ended
--- | ---
Mar. 31, 2018
Business Combinations [Abstract] |
Acquisitions | Acquisitions The following acquisitions were accounted for in accordance with Business Combinations topic of the FASB ASC 805, which requires that the total cost of an acquisition be allocated to the tangible and intangible assets acquired and liabilities assumed based upon their respective fair values at the date of acquisition. Acquisition of Fleet On January 26, 2017, the Company completed the acquisition of Fleet pursuant to the Agreement and Plan of Merger, dated as of December 22, 2016, for $823.7 million plus cash on hand at closing and subject to certain adjustments related to net working capital. The purchase price was funded by available cash on hand, additional borrowings under our asset-based revolving credit facility, and a new $740.0 million senior secured incremental term loan under the 2012 Term Loan. As a result of the merger, we acquired women's health, gastrointestinal and dermatological care OTC brands, including Summer’s Eve, Fleet, and Boudreaux's Butt Paste, as well as a “mix and fill” manufacturing facility in Lynchburg, Virginia. The financial results from the Fleet acquisition are included in the Company's North American and International OTC Healthcare segments. We prepared an analysis of the fair values of the assets acquired and liabilities assumed as of the date of acquisition. The following table summarizes our allocation of the assets acquired and liabilities assumed as of the January 26, 2017 acquisition date:
(In thousands) | January 26, 2017
Cash | $ | 19,884 |
Accounts receivable | 25,293 |
Inventories | 20,812 |
Prepaid expenses and other current assets | 17,024 |
Property, plant and equipment, net | 38,661 |
Goodwill | 273,058 |
Intangible assets, net | 747,600 |
Other long-term assets | 1,137 |
Total assets acquired | 1,143,469 |
Accounts payable | 10,412 |
Accrued expenses | 22,895 |
Deferred income taxes - long term | 261,555 |
Other long term liabilities | 24,884 |
Total liabilities assumed | 319,746 |
Total purchase price | $ | 823,723 |
Based on this analysis, we allocated $648.7 million to non-amortizable intangible assets and $98.9 million to amortizable intangible assets. We recorded goodwill of $273.1 million based on the amount by which the purchase price exceeded the fair value of the net assets acquired. The goodwill is a result of acquiring and retaining workforces and expected synergies from integrating Fleet's operations into the Company's. Goodwill is not deductible for income tax purposes. The following table provides our unaudited pro forma revenues, net income and net income per basic and diluted common share had the results of Fleet's operations been included in our operations commencing on April 1, 2015, based on available information related to Fleet's operations. This pro forma information is not necessarily indicative either of the combined results of operations that actually would have been realized by us had the Fleet acquisition been consummated at the beginning of the period for which the pro forma information is presented, or of future results.
| Year Ended March 31,
| 2017 | 2016
(In thousands, except per share data) | (Unaudited)
Revenues | $ | 1,049,473 |  | $ | 1,004,698 |
Net income | $ | 73,750 |  | $ | 92,712 |
Earnings per share: |  |
Basic EPS | $ | 1.39 |  | $ | 1.76 |
Diluted EPS | $ | 1.38 |  | $ | 1.74 |
Acquisition of DenTek On February 5, 2016, the Company completed the acquisition of DenTek Holdings, Inc. ("DenTek"), a privately-held marketer and distributor of specialty oral care products. The closing was finalized pursuant to the terms of the merger agreement, announced November 23, 2015, under which the Company agreed to acquire DenTek from its stockholders for a purchase price of $226.9 million. The acquisition expanded the Company's portfolio of brands, strengthened its existing oral care platform and increased its geographic reach in parts of Europe. The Company financed the transaction with a combination of available cash on hand, available cash from its asset based loan revolver, and financing of an additional unsecured bridge loan. The DenTek brands are included in the Company's North American and International OTC Healthcare segments.

X
- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
Name: | us-gaap_BusinessCombinationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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