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Goodwill | 3 Months Ended
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Mar. 31, 2024
Goodwill [Abstract] |
Goodwill |
3. | Goodwill
The Company’s reporting units for goodwill are its operating segments, which are also its reportable segments, with the exception of Rhyz other. The Company’s Rhyz other segment consists of three reporting units, which as of both March 31, 2024 and December 31, 2023 had goodwill of $12.6 million, $19.6 million and $4.7 million. During the three months ended March 31, 2024, the Company determined that the recent decline in the Company’s stock price and corresponding market capitalization was a triggering event that required the Company to perform a quantitative impairment analysis for all reporting units. Based on the analysis, the Company concluded the fair value of all reporting units were in excess of their carrying amounts and no impairment charge was required. For goodwill, the estimated fair value of all reporting units exceeded the carrying value by approximately 1% - 7%; therefore the reporting units are considered to be at risk of future impairment. The reporting units’ fair values remain sensitive to unfavorable changes in assumptions utilized including revenue growth rates, profitability margins, estimated future cash flows, and the discount rates that could result in impairment charges in a future period. The following table presents goodwill allocated to the Company’s reportable segments for the periods ended March 31, 2024 and December 31, 2023 (U.S. dollars in thousands):
|  | March 31, 2024 |  |  | December 31, 2023 |
Nu Skin |  |  |  |  |  |
Americas |  | $ | 9,449 |  |  | $ | 9,449 |
Mainland China |  |  | 32,179 |  |  |  | 32,179 |
Southeast Asia/Pacific |  |  | 18,537 |  |  |  | 18,537 |
Japan |  |  | 16,019 |  |  |  | 16,019 |
Europe & Africa |  |  | 2,875 |  |  |  | 2,875 |
South Korea |  |  | 29,261 |  |  |  | 29,261 |
Hong Kong/Taiwan |  |  | 6,634 |  |  |  | 6,634 |
Rhyz Investments |  |  |  |  |  |  |  |
Manufacturing |  |  | 78,875 |  |  |  | 78,875 |
Rhyz other |  |  | 36,939 |  |  |  | 36,939 |
Total |  | $ | 230,768 |  |  | $ | 230,768 |

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- Definition The entire disclosure for goodwill. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482548/350-20-55-24 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-20/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-2 + Details
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