XML 34 R17.htm IDEA: XBRL DOCUMENT
v3.21.2

GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The following table shows the changes in the carrying amount of goodwill by business segment:
| North America |  | International |  | Total
Balance as of June 30, 2019 | $ | 612,590 |  |  | $ | 263,291 |  |  | $ | 875,881 |
Divestiture | (5,009) |  |  | — |  |  | (5,009)
Impairment charge | — |  |  | (394) |  |  | (394) |
Translation and other adjustments, net | (1,526) |  |  | (6,994) |  |  | (8,520) |
Balance as of June 30, 2020 | 606,055 |  |  | 255,903 |  |  | 861,958 |
Divestiture | (8,429) |  | (14,362) |  | (22,791) |
Translation and other adjustments, net | 3,186 |  | 28,714 |  | 31,900 |
Balance as of June 30, 2021 | $ | 600,812 |  |  | $ | 270,255 |  |  | $ | 871,067 |
The Company completed its annual goodwill impairment analysis in the fourth quarter of fiscal 2021, in conjunction with its budgeting and forecasting process for fiscal year 2022, and concluded that no impairment existed at any of its reporting units. During January 2021, the Company completed the divestiture of its Fruit business, a component of the Hain Daniels reporting unit. Goodwill of $14,362 was assigned to the divested business on a relative fair value basis. During April 2021, the Company completed the divestiture of its Dream business, a component of the United States and Canada reporting units. Goodwill of $8,429 was assigned to the divested business on a relative fair value basis. On October 7, 2019, the Company completed the divestiture of its Arrowhead and SunSpire businesses, components of the United States reporting unit, for a purchase price of $13,347 following post-closing adjustments, recognizing a loss on sale of $2,037 during the fiscal year ended June 30, 2020. Goodwill of $4,357 was assigned to the divested businesses on a relative fair value basis. During March 2020, the Company completed the divestiture of its Europe's Best and Casbah businesses, components of the Canada reporting unit. Goodwill of $440 was assigned to the divested businesses on a relative fair value basis. During May 2020, the Company completed the divestiture of its Rudi’s business, a component of the United States reporting unit. Goodwill of $212 was assigned to the divested businesses on a relative fair value basis. During June 2020, in anticipation of the Company’s divestiture of its Danival business, a component of the Europe reporting unit, the goodwill of $394 assigned to the business on a relative fair value basis was impaired based on the expected selling price. Interim impairment analyses were performed on the applicable reporting units both before and after the sale of the respective businesses, noting no impairment indicators were present. Beginning in the three months ended September 30, 2019, operations of Tilda were classified as discontinued operations as discussed in Note 5, Dispositions. Therefore, goodwill associated with Tilda is presented within Noncurrent assets of discontinued operations in the Consolidated Balance Sheet as of June 30, 2020. Other Intangible Assets The following table sets forth balance sheet information for intangible assets, excluding goodwill, subject to amortization and intangible assets not subject to amortization:
| June 30, 2021 |  | June 30, 2020
Non-amortized intangible assets: |  |  |
Trademarks and tradenames(1) | $ | 273,471 |  |  | $ | 278,103 |
Amortized intangible assets: |  |  |
Other intangibles | 146,856 |  |  | 184,854 |
Less: accumulated amortization and impairment | (105,432) |  |  | (116,495) |
Net carrying amount | $ | 314,895 |  |  | $ | 346,462 |
(1) The gross carrying value of trademarks and trade names is reflected net of $93,273 of accumulated impairment charges as of both June 30, 2021 and June 30, 2020. The Company completed its annual assessment of impairment for indefinite-lived intangible assets i n the fourth quarter of fiscal 2021. The assessment indicated that the fair value of the Company’s indefinite-lived intangible assets exceeded their carrying values and no impairment existed. During fiscal 2020, in association with the sale or discontinuation of certain businesses and brands, the Company determined that certain of its indefinite-lived tradenames were impaired due to the carrying value of the tradenames exceeding their fair values, and therefore an impairment charge of $13,994 was recognized ($8,462 in the North America reportable segment and $5,532 in the International reportable segment). In the fourth quarter of fiscal 2021, the Company completed the divestiture of its Dream and GG businesses. Other intangible assets totaling $7,833 and $729, consisting primarily of trademarks, were assigned to the divested businesses, respectively. Amortizable intangible assets, which are deemed to have a finite life, primarily consist of customer relationships and are being amortized over their estimated useful lives of 5 to 25 years. Amortization expense included in continuing operations was as follows:
| Fiscal Year Ended June 30,
| 2021 |  | 2020 |  | 2019
Amortization of intangible assets | $ | 8,931 |  |  | $ | 11,638 |  |  | $ | 13,134 |
Expected amortization expense over the next five fiscal years is as follows:
| Fiscal Year Ending June 30,
| 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026
Estimated amortization expense | $ | 8,004 |  |  | $ | 7,468 |  |  | $ | 5,155 |  |  | $ | 3,868 |  |  | $ | 3,405 |
The average remaining amortization period of amortized intangible assets is 6.8 years.

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