Goodwill

6 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

A reconciliation of the activity affecting goodwill by operating segment is as follows:



(In thousands)		North American OTC Healthcare			International OTC Healthcare			Consolidated
Balance - March 31, 2019
	Goodwill	$	711,104		$	31,190		$	742,294
	Accumulated impairment loss	(163,711		)	—			(163,711		)
Balance - March 31, 2019		547,393			31,190			578,583
	2020 Reductions:
	Effects of foreign currency exchange rates	—			(1,039		)	(1,039		)
Balance - September 30, 2019
	Goodwill	711,104			30,151			741,255
	Accumulated impairment loss	(163,711		)	—			(163,711		)
Balance - September 30, 2019		$	547,393		$	30,151		$	577,544

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.

On an annual basis during the fourth quarter of each fiscal year, or more frequently if conditions indicate that the carrying value of the asset may not be recoverable, management performs a review of the values assigned to goodwill and tests for impairment. The date of our annual impairment review was February 28, 2019, and we recorded impairment charges in our March 31, 2019 financial statements. We utilize the discounted cash flow method to estimate the fair value of our reporting units as part of the goodwill impairment test. We also considered our market capitalization at February 28, 2019, which was the date of our annual review, 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, increasing competition, changing consumer preferences, technical advances, or reductions in advertising and promotion may require an additional impairment charge to be recorded in the future. As of September 30, 2019, no events have occurred that would indicate potential impairment of goodwill.