XML 53 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Goodwill and Intangible Assets
6 Months Ended
Aug. 31, 2012
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

Note 8 – Goodwill and Intangible Assets

 

Annual Impairment Testing in the First Quarter of Fiscal 2013 and 2012 - We performed our annual evaluation of goodwill and indefinite-lived intangible assets for impairment during the first quarters of fiscal 2013 and 2012.  As a result, we concluded no impairment charges were required during either period.  For both periods, the estimated fair value of the indefinite-lived trademarks and licenses, reporting unit net assets, and the Company’s estimated enterprise value exceeded their respective carrying values as of the date of the evaluation.

 

A summary of the carrying amounts and associated accumulated amortization for all intangible assets by operating segment follows:

 

GOODWILL AND INTANGIBLE ASSETS

(in thousands)

 

 

 

 

 

 

 

 

 

August 31, 2012

 

February 29, 2012

 

 

Gross

 

Cumulative

 

 

 

 

 

 

 

Gross

 

Cumulative

 

 

 

 

 

 

 

Carrying

 

Goodwill

 

Accumulated

 

Net Book

 

 

 

Carrying

 

Goodwill

 

Accumulated

 

Net Book

 

Description

 

Amount

 

Impairments

 

Amortization

 

Value

 

 

 

Amount

 

Impairments

 

Amortization

 

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personal Care:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

81,842

 

$

(46,490

)

$

 -

 

$

35,352

 

 

 

$

81,842

 

$

(46,490

)

$

-

 

$

35,352

 

Trademarks - indefinite

 

75,803

 

-

 

-

 

75,803

 

 

 

75,303

 

-

 

-

 

75,303

 

Trademarks - finite

 

150

 

-

 

(70

)

80

 

 

 

150

 

-

 

(67

)

83

 

Licenses - indefinite

 

10,300

 

-

 

-

 

10,300

 

 

 

10,300

 

-

 

-

 

10,300

 

Licenses - finite

 

18,683

 

-

 

(15,344

)

3,339

 

 

 

19,564

 

-

 

(15,967

)

3,597

 

Other intangibles - finite

 

49,437

 

-

 

(17,998

)

31,439

 

 

 

49,437

 

-

 

(15,012

)

34,425

 

Total Personal Care

 

236,215

 

(46,490

)

(33,412

)

156,313

 

 

 

236,596

 

(46,490

)

(31,046

)

159,060

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Housewares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

166,131

 

-

 

-

 

166,131

 

 

 

166,131

 

-

 

-

 

166,131

 

Trademarks - indefinite

 

75,200

 

-

 

-

 

75,200

 

 

 

75,200

 

-

 

-

 

75,200

 

Other intangibles - finite

 

15,724

 

-

 

(9,572

)

6,152

 

 

 

15,774

 

-

 

(9,000

)

6,774

 

Total Housewares

 

257,055

 

-

 

(9,572

)

247,483

 

 

 

257,105

 

-

 

(9,000

)

248,105

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Healthcare / Home Environment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

250,770

 

-

 

-

 

250,770

 

 

 

250,867

 

-

 

-

 

250,867

 

Trademarks - indefinite

 

54,000

 

-

 

-

 

54,000

 

 

 

54,000

 

-

 

-

 

54,000

 

Licenses - finite

 

15,300

 

-

 

(1,974

)

13,326

 

 

 

14,900

 

-

 

(481

)

14,419

 

Other Intangibles - finite

 

114,490

 

-

 

(17,478

)

97,012

 

 

 

114,790

 

-

 

(11,741

)

103,049

 

Total Healthcare / Home Environment

 

434,560

 

-

 

(19,452

)

415,108

 

 

 

434,557

 

-

 

(12,222

)

422,335

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

927,830

 

$

(46,490

)

$

 (62,436

)

$

818,904

 

 

 

$

928,258

 

$

(46,490

)

$

(52,268

)

$

829,500

 

 

The following table summarizes the amortization expense attributable to intangible assets for the periods covered in the accompanying consolidated condensed statements of income, as well as our estimated amortization expense for the fiscal years 2013 through 2018.

 

AMORTIZATION OF INTANGIBLE ASSETS

 

 

 

(in thousands)

 

 

 

Aggregate Amortization Expense

 

 

 

For the three months ended

 

 

 

 

 

 

 

August 31, 2012

 

$

5,626

 

August 31, 2011

 

$

4,492

 

 

 

 

 

Aggregate Amortization Expense

 

 

 

For the six months ended

 

 

 

 

 

 

 

August 31, 2012

 

$

11,262

 

August 31, 2011

 

$

9,049

 

 

 

 

 

Estimated Amortization Expense

 

 

 

For the fiscal years ended

 

 

 

 

 

 

 

February 2013

 

$

22,326

 

February 2014

 

$

21,583

 

February 2015

 

$

21,019

 

February 2016

 

$

20,835

 

February 2017

 

$

20,500

 

February 2018

 

$

16,677