XML 28 R13.htm IDEA: XBRL DOCUMENT
v3.25.1

Intangible Assets | 12 Months Ended
--- | ---
Mar. 31, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Intangible Assets | Intangible Assets A reconciliation of the activity affecting intangible assets, net for each of 2025 and 2024 is as follows:
| Year Ended March 31, 2025
(In thousands) | Indefinite- Lived Tradenames |  | Finite-Lived Tradenames and Customer Relationships |  | Totals
Gross Carrying Amounts |  |  |  |  |
Balance – March 31, 2024 | $ | 2,167,162 |  |  | $ | 411,258 |  |  | $ | 2,578,420 |
Additions (a) | 6,850 |  |  | 1,400 |  |  | 8,250 |
Reclassifications (b) | (28,982) |  |  | 28,982 |  |  | — |
Tradename impairment | (6,552) |  |  | (5,914) |  |  | (12,466) |
Effects of foreign currency exchange rates | (1,492) |  |  | (1,226) |  |  | (2,718) |
Balance – March 31, 2025 | $ | 2,136,986 |  |  | $ | 434,500 |  |  | $ | 2,571,486 |
Accumulated Amortization |  |  |  |  |
Balance – March 31, 2024 | $ | — |  |  | $ | 257,837 |  |  | $ | 257,837 |
Additions | — |  |  | 18,263 |  |  | 18,263 |
Effects of foreign currency exchange rates | — |  |  | 36 |  |  | 36 |
Balance – March 31, 2025 | $ | — |  |  | $ | 276,136 |  |  | $ | 276,136 |
Intangible assets, net – March 31, 2025 | $ | 2,136,986 |  |  | $ | 158,364 |  |  | $ | 2,295,350 |
Intangible Assets, net by Reportable Segment: |  |  |  |  |
North American OTC Healthcare | $ | 2,068,752 |  |  | $ | 141,234 |  |  | $ | 2,209,986 |
International OTC Healthcare | 68,234 |  |  | 17,130 |  |  | 85,364 |
Intangible assets, net – March 31, 2025 | $ | 2,136,986 |  |  | $ | 158,364 |  |  | $ | 2,295,350 |
(a) Amounts relate to our acquisition of Hydralyte intellectual property on October 1, 2024, giving us the rights to the Hydralyte intellectual property in all remaining jurisdictions with the exception of the United States. (b) In connection with our annual impairment test at February 28, 2025, certain indefinite-lived intangible assets were moved to finite-lived to better reflect our long-term projections for these brands.
| Year Ended March 31, 2024
(In thousands) | Indefinite- Lived Tradenames |  | Finite-Lived Tradenames and Customer Relationships |  |  | Totals
Gross Carrying Amounts |  |  |  |  |  |
Balance – March 31, 2023 | $ | 2,168,902 |  |  | $ | 411,118 |  |  |  | $ | 2,580,020 |
Additions (a) | 393 |  |  | 680 |  |  |  | 1,073 |
Effects of foreign currency exchange rates | (2,133) |  |  | (540) |  |  |  | (2,673) |
Balance – March 31, 2024 | $ | 2,167,162 |  |  | $ | 411,258 |  |  |  | $ | 2,578,420 |
Accumulated Amortization |  |  |  |  |  |
Balance – March 31, 2023 | $ | — |  |  | $ | 238,127 |  |  |  | $ | 238,127 |
Additions | — |  |  | 19,784 |  |  |  | 19,784 |
Effects of foreign currency exchange rates | — |  |  | (74) |  |  |  | (74) |
Balance – March 31, 2024 | $ | — |  |  | $ | 257,837 |  |  |  | $ | 257,837 |
Intangible assets, net – March 31, 2024 | $ | 2,167,162 |  |  | $ | 153,421 |  |  |  | $ | 2,320,583 |
Intangible Assets, net by Reportable Segment: |  |  |  |  |  |
North American OTC Healthcare | $ | 2,092,853 |  |  | $ | 135,932 |  |  |  | $ | 2,228,785 |
International OTC Healthcare | 74,309 |  |  | 17,489 |  |  |  | 91,798 |
Intangible assets, net – March 31, 2024 | $ | 2,167,162 |  |  | $ | 153,421 |  |  |  | $ | 2,320,583 |
(a) On January 8, 2024, our Australian subsidiary acquired one of its suppliers. In connection with this acquisition, we allocated $1.1 million to intangible assets. During the fourth quarter of each fiscal year, in conjunction with our strategic planning process, we perform our annual impairment analysis for intangible assets. We utilized the excess earnings method to estimate the fair value of our individual indefinite-lived intangible assets. The assumptions subject to significant uncertainties in the analysis include the discount rate, as well as future sales, gross margins and advertising and marketing expenses. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. Additionally, should the related fair values of intangible assets be adversely affected as a result of declining sales or margins caused by competition, changing consumer needs or preferences, technological advances, changes in advertising and marketing expenses, or the potential impacts of supply chain constraints, labor shortages, or inflation, we may be required to record additional impairment charges in the future. As a result of our annual impairment test at February 28, 2023, the fair values of three of our indefinite-lived intangible assets, Summer’s Eve, DenTek and TheraTears, did not exceed the carrying values and, as such, impairment charges totaling $298.7 million were recorded. The impairment charges were primarily a result of an overall increase in the discount rate used to value the brands, as well as, in the case of Summer’s Eve, our reassessment of the long-term sales projections of this brand during our annual planning cycle. The indefinite-lived intangible assets impaired are all part of our North American OTC Healthcare segment. Our analysis at February 28, 2023 concluded that the fair value of several of our non-strategic finite-lived intangible assets did not exceed their carrying values, and as such, impairment charges of $22.7 million were recorded. The impairment charges were the result of our reassessment of the long-term sales projections for the associated non-strategic brands during our annual planning cycle, the largest of which pertained to the strategic exit of our DenTek private label business. The finite-lived trademarks impaired are all part of the North American OTC Healthcare segment. At February 29, 2024, in conjunction with the annual test for impairment of intangible assets, the estimated fair value exceeded the carrying value for all intangible assets and accordingly, no impairment charge was taken. As part of our annual impairment test conducted on February 28, 2025, we recognized impairment charges for indefinite-lived intangible assets totaling $6.6 million. These charges pertain to non-strategic indefinite-lived intangible assets, reflecting a deliberate shift in sales toward other strategic brands within our portfolio. Of the $6.6 million impairment, $4.1 million was associated with our North American OTC Healthcare segment, while $2.4 million impacted our International OTC Healthcare segment. Additionally, our analysis as of February 28, 2025 confirmed that all other indefinite-lived intangible assets had a fair value exceeding their carrying value by at least 10%. Our analysis at February 28, 2025 concluded that the fair value of several non-strategic finite-lived intangible assets did not exceed their carrying values, and as such, impairment charges of $5.9 million were recorded. These charges relate to non-strategic finite-lived intangible assets, driven by a deliberate shift in sales toward other strategic brands within our portfolio. The impairments were predominantly associated with our North American OTC Healthcare segment. We performed a sensitivity analysis of our weighted average cost of capital, and we determined that a 50-basis point increase in the weighted average cost of capital used to value all of our indefinite-lived intangible assets would have resulted in an additional impairment charge of $1.4 million. Additionally, a 50-basis point decrease in the terminal growth rate used for each of our indefinite-lived intangible assets would have resulted in an additional impairment charge of $1.9 million. The weighted average remaining life for finite-lived intangible assets at March 31, 2025 was approximately 8.8 years, and the amortization expense for the year ended March 31, 2025 was $18.3 million. At March 31, 2025, finite-lived intangible assets are expected to be amortized over their estimated useful lives, which ranges from a period of 10 to 24 years, and the estimated amortization expense for each of the five succeeding years and periods thereafter is as follows (in thousands):
(In thousands) |
Year Ending March 31, | Amount
2026 | $ | 17,192 |
2027 | 15,602 |
2028 | 13,277 |
2029 | 13,277 |
2030 | 13,277 |
Thereafter | 85,739 |
| $ | 158,364 |

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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