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Business Segments

3 Months Ended

Jun. 30, 2019

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 2 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 June 30, 2019
(In thousands)	North American OTC Healthcare				International OTC Healthcare				Household Cleaning				Consolidated
Total segment revenues*	$	210,784			$	21,370			$	—			$	232,154
Cost of sales	88,811				9,276				—				98,087
Gross profit	121,973				12,094				—				134,067
Advertising and promotion	31,014				3,787				—				34,801
Contribution margin	$	90,959			$	8,307			$	—			99,266
Other operating expenses													27,780
Operating income													71,486
Other expense													25,436
Income before income taxes													46,050
Provision for income taxes													12,125
Net income													$	33,925

* Intersegment revenues of $0.8 million were eliminated from the North American OTC Healthcare segment.

	Three Months Ended June 30, 2018
(In thousands)	North American OTC Healthcare				International OTC Healthcare				Household Cleaning				Consolidated
Total segment revenues*	$	214,775			$	19,394			$	19,811			$	253,980
Cost of sales	89,153				7,616				16,588				113,357
Gross profit	125,622				11,778				3,223				140,623
Advertising and promotion	33,258				3,423				430				37,111
Contribution margin	$	92,364			$	8,355			$	2,793			103,512
Other operating expenses													31,025
Operating income													72,487
Other expense													26,027
Income before income taxes													46,460
Benefit for income taxes													11,994
Net income													$	34,466

* Intersegment revenues of $2.7 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 June 30, 2019
(In thousands)	North American OTC Healthcare				International OTC Healthcare				Household Cleaning				Consolidated
Analgesics	$	28,535			$	230			$	—			$	28,765
Cough & Cold	17,340				5,382				—				22,722
Women's Health	59,578				2,419				—				61,997
Gastrointestinal	31,572				6,985				—				38,557
Eye & Ear Care	26,753				3,011				—				29,764
Dermatologicals	25,738				690				—				26,428
Oral Care	19,979				2,652				—				22,631
Other OTC	1,289				1				—				1,290
Household Cleaning	—				—				—				—
Total segment revenues	$	210,784			$	21,370			$	—			$	232,154

	Three Months Ended June 30, 2018
(In thousands)	North American OTC Healthcare				International OTC Healthcare				Household Cleaning				Consolidated
Analgesics	$	28,258			$	157			$	—			$	28,415
Cough & Cold	16,214				5,171				—				21,385
Women's Health	63,477				2,257				—				65,734
Gastrointestinal	32,799				5,990				—				38,789
Eye & Ear Care	25,472				2,619				—				28,091
Dermatologicals	25,122				532				—				25,654
Oral Care	22,197				2,667				—				24,864
Other OTC	1,236				1				—				1,237
Household Cleaning	—				—				19,811				19,811
Total segment revenues	$	214,775			$	19,394			$	19,811			$	253,980

Our total segment revenues by geographic area are as follows:

	Three Months Ended June 30,
	2019				2018
United States	$	200,629			$	223,477
Rest of world	31,525				30,503
Total	$	232,154			$	253,980

Our consolidated goodwill and intangible assets have been allocated to the reportable segments as follows:

June 30, 2019	North American OTC Healthcare				International OTC Healthcare				Consolidated
(In thousands)
Goodwill	$	547,393			$	30,916			$	578,309
Intangible assets
Indefinite-lived	2,195,617				76,677				2,272,294
Finite-lived, net	223,961				5,103				229,064
Intangible assets, net	2,419,578				81,780				2,501,358
Total	$	2,966,971			$	112,696			$	3,079,667

March 31, 2019	North American OTC Healthcare				International OTC Healthcare				Consolidated
(In thousands)
Goodwill	$	547,393			$	31,190			$	578,583
Intangible assets
Indefinite-lived	2,195,617				77,574				2,273,191
Finite-lived, net	228,743				5,276				234,019
Intangible assets, net	2,424,360				82,850				2,507,210
Total	$	2,971,753			$	114,040			$	3,085,793

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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

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