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Business Segments | 6 Months Ended
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Sep. 30, 2018
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 and (ii) International OTC Healthcare. We sold our Household Cleaning segment on July 2, 2018; see Note 3 for further information. 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, 2018
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Total segment revenues* | $ | 215,950 |  |  | $ | 23,407 |  |  | $ | — |  |  | $ | 239,357 |
Cost of sales | 92,007 |  |  | 9,878 |  |  | — |  |  | 101,885 |
Gross profit | 123,943 |  |  | 13,529 |  |  | — |  |  | 137,472 |
Advertising and promotion | 33,325 |  |  | 3,717 |  |  | — |  |  | 37,042 |
Contribution margin | $ | 90,618 |  |  | $ | 9,812 |  |  | $ | — |  |  | 100,430 |
Other operating expenses |  |  |  |  |  |  |  |  | 29,506 |
Operating income |  |  |  |  |  |  |  |  | 70,924 |
Other expense |  |  |  |  |  |  |  |  | 27,405 |
Income before income taxes |  |  |  |  |  |  |  |  | 43,519 |
Provision for income taxes |  |  |  |  |  |  |  |  | 12,678 |
Net income |  |  |  |  |  |  |  |  | $ | 30,841 |
* Intersegment revenues of $1.6 million were eliminated from the North American OTC Healthcare segment.
| Six Months Ended September 30, 2018
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Total segment revenues* | $ | 430,725 |  |  | $ | 42,801 |  |  | $ | 19,811 |  |  | $ | 493,337 |
Cost of sales | 181,160 |  |  | 17,494 |  |  | 16,588 |  |  | 215,242 |
Gross profit | 249,565 |  |  | 25,307 |  |  | 3,223 |  |  | 278,095 |
Advertising and promotion | 66,583 |  |  | 7,140 |  |  | 430 |  |  | 74,153 |
Contribution margin | $ | 182,982 |  |  | $ | 18,167 |  |  | $ | 2,793 |  |  | 203,942 |
Other operating expenses |  |  |  |  |  |  |  |  |  | 60,531 |
Operating income |  |  |  |  |  |  |  |  |  | 143,411 |
Other expense |  |  |  |  |  |  |  |  |  | 53,432 |
Income before income taxes |  |  |  |  |  |  |  |  |  | 89,979 |
Provision for income taxes |  |  |  |  |  |  |  |  |  | 24,672 |
Net income |  |  |  |  |  |  |  |  |  | $ | 65,307 |
* Intersegment revenues of $4.3 million were eliminated from the North American OTC Healthcare segment.
| Three Months Ended September 30, 2017
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Total segment revenues* | $ | 215,302 |  |  | $ | 20,957 |  |  | $ | 21,767 |  |  | $ | 258,026 |
Cost of sales | 87,184 |  |  | 9,296 |  |  | 17,448 |  |  | 113,928 |
Gross profit | 128,118 |  |  | 11,661 |  |  | 4,319 |  |  | 144,098 |
Advertising and promotion | 35,064 |  |  | 3,593 |  |  | 531 |  |  | 39,188 |
Contribution margin | $ | 93,054 |  |  | $ | 8,068 |  |  | $ | 3,788 |  |  | 104,910 |
Other operating expenses |  |  |  |  |  |  |  |  | 29,185 |
Operating income |  |  |  |  |  |  |  |  | 75,725 |
Other expense |  |  |  |  |  |  |  |  | 26,404 |
Income before income taxes |  |  |  |  |  |  |  |  | 49,321 |
Provision for income taxes |  |  |  |  |  |  |  |  | 18,616 |
Net income |  |  |  |  |  |  |  |  | $ | 30,705 |
* Intersegment revenues of $2.3 million were eliminated from the North American OTC Healthcare segment.
| Six Months Ended September 30, 2017
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Total segment revenues* | $ | 431,117 |  |  | $ | 41,855 |  |  | $ | 41,627 |  |  | $ | 514,599 |
Cost of sales | 173,685 |  |  | 19,246 |  |  | 34,094 |  |  | 227,025 |
Gross profit | 257,432 |  |  | 22,609 |  |  | 7,533 |  |  | 287,574 |
Advertising and promotion | 67,872 |  |  | 7,283 |  |  | 977 |  |  | 76,132 |
Contribution margin | $ | 189,560 |  |  | $ | 15,326 |  |  | $ | 6,556 |  |  | 211,442 |
Other operating expenses |  |  |  |  |  |  |  |  | 56,762 |
Operating income |  |  |  |  |  |  |  |  | 154,680 |
Other expense |  |  |  |  |  |  |  |  | 52,671 |
Income before income taxes |  |  |  |  |  |  |  |  | 102,009 |
Provision for income taxes |  |  |  |  |  |  |  |  | 37,545 |
Net income |  |  |  |  |  |  |  |  | $ | 64,464 |
* Intersegment revenues of $3.7 million were eliminated from the North American OTC Healthcare segment. The tables below summarize information about our segment revenues from similar product groups.
| Three Months Ended September 30, 2018
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Analgesics | $ | 28,638 |  |  | $ | 125 |  |  | $ | — |  |  | $ | 28,763 |
Cough & Cold | 20,492 |  |  | 5,734 |  |  | — |  |  | 26,226 |
Women's Health | 61,614 |  |  | 3,270 |  |  | — |  |  | 64,884 |
Gastrointestinal | 30,529 |  |  | 7,950 |  |  | — |  |  | 38,479 |
Eye & Ear Care | 24,845 |  |  | 2,995 |  |  | — |  |  | 27,840 |
Dermatologicals | 25,338 |  |  | 605 |  |  | — |  |  | 25,943 |
Oral Care | 23,142 |  |  | 2,727 |  |  | — |  |  | 25,869 |
Other OTC | 1,352 |  |  | 1 |  |  | — |  |  | 1,353 |
Household Cleaning | — |  |  | — |  |  | — |  |  | — |
Total segment revenues | $ | 215,950 |  |  | $ | 23,407 |  |  | $ | — |  |  | $ | 239,357 |
| Six Months Ended September 30, 2018
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Analgesics | $ | 56,896 |  |  | $ | 282 |  |  | $ | — |  |  | $ | 57,178 |
Cough & Cold | 36,706 |  |  | 10,905 |  |  | — |  |  | 47,611 |
Women's Health | 125,091 |  |  | 5,527 |  |  | — |  |  | 130,618 |
Gastrointestinal | 63,328 |  |  | 13,940 |  |  | — |  |  | 77,268 |
Eye & Ear Care | 50,317 |  |  | 5,614 |  |  | — |  |  | 55,931 |
Dermatologicals | 50,460 |  |  | 1,137 |  |  | — |  |  | 51,597 |
Oral Care | 45,339 |  |  | 5,394 |  |  | — |  |  | 50,733 |
Other OTC | 2,588 |  |  | 2 |  |  | — |  |  | 2,590 |
Household Cleaning | — |  |  | — |  |  | 19,811 |  |  | 19,811 |
Total segment revenues | $ | 430,725 |  |  | $ | 42,801 |  |  | $ | 19,811 |  |  | $ | 493,337 |
| Three Months Ended September 30, 2017
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Analgesics | $ | 29,348 |  |  | $ | 40 |  |  | $ | — |  |  | $ | 29,388 |
Cough & Cold | 21,567 |  |  | 4,659 |  |  | — |  |  | 26,226 |
Women's Health | 61,436 |  |  | 1,906 |  |  | — |  |  | 63,342 |
Gastrointestinal | 28,323 |  |  | 8,139 |  |  | — |  |  | 36,462 |
Eye & Ear Care | 22,535 |  |  | 2,590 |  |  | — |  |  | 25,125 |
Dermatologicals | 25,821 |  |  | 524 |  |  | — |  |  | 26,345 |
Oral Care | 24,990 |  |  | 3,097 |  |  | — |  |  | 28,087 |
Other OTC | 1,282 |  |  | 2 |  |  | — |  |  | 1,284 |
Household Cleaning | — |  |  | — |  |  | 21,767 |  |  | 21,767 |
Total segment revenues | $ | 215,302 |  |  | $ | 20,957 |  |  | $ | 21,767 |  |  | $ | 258,026 |
| Six Months Ended September 30, 2017
(In thousands) | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
Analgesics | $ | 58,638 |  |  | $ | 549 |  |  | $ | — |  |  | $ | 59,187 |
Cough & Cold | 38,977 |  |  | 9,272 |  |  | — |  |  | 48,249 |
Women's Health | 124,581 |  |  | 5,500 |  |  | — |  |  | 130,081 |
Gastrointestinal | 58,753 |  |  | 13,872 |  |  | — |  |  | 72,625 |
Eye & Ear Care | 47,806 |  |  | 5,645 |  |  | — |  |  | 53,451 |
Dermatologicals | 49,952 |  |  | 1,025 |  |  | — |  |  | 50,977 |
Oral Care | 49,882 |  |  | 5,989 |  |  | — |  |  | 55,871 |
Other OTC | 2,528 |  |  | 3 |  |  | — |  |  | 2,531 |
Household Cleaning | — |  |  | — |  |  | 41,627 |  |  | 41,627 |
Total segment revenues | $ | 431,117 |  |  | $ | 41,855 |  |  | $ | 41,627 |  |  | $ | 514,599 |
Our total segment revenues by geographic area are as follows:
| Three Months Ended September 30, |  | Six Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
United States | $ | 203,763 |  |  | $ | 225,351 |  |  | $ | 427,240 |  |  | $ | 450,345 |
Rest of world | 35,594 |  |  | 32,675 |  |  | 66,097 |  |  | 64,254 |
Total | $ | 239,357 |  |  | $ | 258,026 |  |  | $ | 493,337 |  |  | $ | 514,599 |
Our consolidated goodwill and intangible assets have been allocated to the reportable segments as follows:
September 30, 2018 | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
(In thousands) |  |  |  |  |  |  |
Goodwill | $ | 580,934 |  |  | $ | 31,510 |  |  | $ | — |  |  | $ | 612,444 |
Intangible assets |  |  |  |  |  |  |  |
Indefinite-lived | 2,375,737 |  |  | 78,887 |  |  | — |  |  | 2,454,624 |
Finite-lived, net | 254,876 |  |  | 5,570 |  |  | — |  |  | 260,446 |
Intangible assets, net | 2,630,613 |  |  | 84,457 |  |  | — |  |  | 2,715,070 |
Total | $ | 3,211,547 |  |  | $ | 115,967 |  |  | $ | — |  |  | $ | 3,327,514 |
March 31, 2018 | North American OTC Healthcare |  | International OTC Healthcare |  | Household Cleaning |  | Consolidated
(In thousands) |  |  |  |  |  |  |
Goodwill | $ | 580,934 |  |  | $ | 32,919 |  |  | $ | 6,245 |  |  | $ | 620,098 |
Intangible assets |  |  |  |  |  |  |  |  |  |
Indefinite-lived | 2,375,736 |  |  | 84,006 |  |  | 30,561 |  |  | 2,490,303 |
Finite-lived, net | 265,356 |  |  | 6,068 |  |  | 19,189 |  |  | 290,613 |
Intangible assets, net | 2,641,092 |  |  | 90,074 |  |  | 49,750 |  |  | 2,780,916 |
Total | $ | 3,222,026 |  |  | $ | 122,993 |  |  | $ | 55,995 |  |  | $ | 3,401,014 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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