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Assets Held for Sale | 12 Months Ended
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Feb. 29, 2020
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract] |
Assets Held for Sale | Assets Held for Sale We record assets held for sale in accordance with ASC 360 “Property, Plant, and Equipment,” and present them as single asset amounts in our condensed consolidated financial statements. Assets held for sale consist of assets that we expect to sell within the next year. The assets are reported at the lower of carrying amount or fair value less costs to sell. We cease recording depreciation on assets that are classified as held for sale. If the determination is made that we no longer expect to sell an asset within the next year, the asset is reclassified out of held for sale. We review assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values. During the fourth quarter of fiscal 2020, we committed to a plan to divest certain assets within our mass market personal care business. The assets to be disposed of include intangible assets, inventory and fixed assets relating to our mass channel liquids, powder and aerosol products under brands such as Pert, Brut, Sure and Infusium. We expect the divestiture to occur within fiscal 2021. Accordingly, we have classified the identified assets of the disposal group as held for sale. The carrying amounts of the major classes of assets for the personal care business that were classified held for sale are as follows:
(in thousands) | February 29, 2020
Assets |
Inventory | $ | 17,150 |
Property and equipment, net of accumulated depreciation of $403 | 83 |
Goodwill | 9,849 |
Other intangible assets, net of accumulated amortization of $4,474 | 17,724 |
Total assets held for sale | $ | 44,806 |
The following table summarizes income (loss) before income tax for the personal care business:
| Fiscal Years Ended Last Day of February,
(in thousands) | 2020 |  | 2019 |  | 2018
Income (loss) before income taxes | $ | (29,760 | ) |  | $ | 23,190 |  |  | $ | 1,713 |
Income (loss) before income taxes includes asset impairment charges of $41.0 million, $0 and $15.4 million for fiscal 2020, 2019 and 2018, respectively. It also includes corporate overhead expenses that are allocable to the business.

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- Definition The entire disclosure for intangible assets and long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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