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Assets Held for Sale

3 Months Ended

May 31, 2020

Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]

Assets Held for Sale

Note 5 - Assets Held for Sale

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 and have classified the identified assets of the disposal group as held for sale. The business is currently being marketed and the process is ongoing.

The carrying amounts of the major classes of assets for the personal care business that were classified as held for sale are as follows:

(in thousands)			May 31, 2020						February 29, 2020
Assets:
Inventory			$	13,140					$	17,150
Property and equipment, net of accumulated depreciation of $403			83						83
Goodwill			9,849						9,849
Other intangible assets, net of accumulated amortization of $4,474			17,724						17,724
Total assets held for sale			$	40,796					$	44,806

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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

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- References

No definition available.

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