XML 29 R16.htm IDEA: XBRL DOCUMENT
v3.22.1

Goodwill and Intangibles | 12 Months Ended
--- | ---
Feb. 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles | Note 8 - Goodwill and Intangibles Amortization expense is recorded for intangible assets with definite useful lives and is reported within SG&A in our consolidated statements of income. Some of our goodwill is held in jurisdictions that allow deductions for tax purposes, however, in some of those jurisdictions we have no tax basis for the associated goodwill recorded for book purposes. Accordingly, the majority of our goodwill is not deductible for tax purposes. We perform annual impairment testing each fiscal year and interim impairment testing, if necessary. We write down any asset deemed to be impaired to its fair value. Impairment Testing in Fiscal 2022 - We did not record any impairment charges related to goodwill or intangible assets. Impairment Testing in Fiscal 2021 - During the fourth quarter of fiscal 2021, our quarterly impairment evaluation of long-lived assets held for sale resulted in an asset impairment charge of $8.5 million ($7.4 million after tax) to reduce the goodwill of our Personal Care business to reflect the disposal group at fair value less cost to sell. See Note 4 for additional information. Impairment Testing in Fiscal 2020 - We recorded asset impairment charges related to goodwill and intangible assets of $41.0 million ($36.4 million after tax). The charges were related to our Personal Care business, which was written down to its estimated fair value, and classified as held for sale. There were no changes to the gross carrying amount or accumulated impairment of our goodwill associated with our assets held and used during fiscal 2021. The following table summarizes the changes in our goodwill by segment for fiscal 2022:
(in thousands) | Home & Outdoor |  | Health & Wellness |  | Beauty |  | Total
Gross carrying amount as of February 28, 2021 | $ | 282,056 |  |  | $ | 284,913 |  |  | $ | 172,932 |  |  | $ | 739,901 |
Accumulated impairment as of February 28, 2021 | — |  |  | — |  |  | — |  |  | — |
Acquisitions (1) | 208,972 |  |  | — |  |  | — |  |  | 208,972 |
Gross carrying amount as of February 28, 2022 | 491,028 |  |  | 284,913 |  |  | 172,932 |  |  | 948,873 |
Accumulated impairment as of February 28, 2022 | — |  |  | — |  |  | — |  |  | — |
Net carrying amount as of February 28, 2022 | $ | 491,028 |  |  | $ | 284,913 |  |  | $ | 172,932 |  |  | $ | 948,873 |
(1)Reflects the goodwill recorded in connection with the acquisition of Osprey on December 29, 2021. For additional information see Note 7. The following table summarizes the components of our other intangible assets as follows:
|  |  | February 28, 2022 (1) |  | February 28, 2021
(in thousands) |  |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Indefinite-lived: |  |  |  |  |  |  |  |  |  |  |  |  |
Licenses |  |  | $ | 7,400 |  |  | $ | — |  |  | $ | 7,400 |  |  | $ | 7,400 |  |  | $ | — |  |  | $ | 7,400 |
Trademarks |  |  | 358,200 |  |  | — |  |  | 358,200 |  |  | 188,200 |  |  | — |  |  | 188,200 |
Definite-lived: |  |  |  |  |  |  |  |  |  |  |  |  |
Licenses |  |  | 74,250 |  |  | (3,267) |  |  | 70,983 |  |  | 87,946 |  |  | (14,800) |  |  | 73,146 |
Trademarks |  |  | 30,150 |  |  | (4,332) |  |  | 25,818 |  |  | 30,150 |  |  | (2,327) |  |  | 27,823 |
Other Intangibles |  |  | 218,155 |  |  | (142,710) |  |  | 75,445 |  |  | 194,808 |  |  | (134,113) |  |  | 60,695 |
Total |  |  | $ | 688,155 |  |  | $ | (150,309) |  |  | $ | 537,846 |  |  | $ | 508,504 |  |  | $ | (151,240) |  |  | $ | 357,264 |
(1)Balances as of February 28, 2022 include intangible assets recorded in connection with the acquisition of Osprey on December 29, 2021. For additional information see Note 7. The following tables summarize amortization expense related to our other intangible assets as follows:
Aggregate Amortization Expense (in thousands) |
Fiscal 2022 | $ | 12,764 |
Fiscal 2021 | 17,643 |
Fiscal 2020 | 21,271 |
Estimated Amortization Expense (in thousands) |
Fiscal 2023 | $ | 16,860 |
Fiscal 2024 | 16,738 |
Fiscal 2025 | 16,248 |
Fiscal 2026 | 14,072 |
Fiscal 2027 | 9,609 |

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

X
- Definition The entire disclosure for goodwill and intangible assets. + 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 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration