XML 34 R17.htm IDEA: XBRL DOCUMENT
v3.22.2.2

GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Jun. 30, 2022
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 am ount of goodwill by reportabl e segment:
| North America |  | International |  | Total
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 |
Acquisition activity (See Note 4) | 95,645 |  | — |  |  | 95,645 |
Translation and other adjustments, net | (742) |  | (32,174) |  | (32,916) |
Balance as of June 30, 2022 | $ | 695,715 |  |  | $ | 238,081 |  |  | $ | 933,796 |
The Company completed its annual goodwill impairment analysis in the fourth quarter of fiscal 2022 and concluded that no impairment existed at any of its reporting units. 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. 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. 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, 2022 |  | June 30, 2021
Non-amortized intangible assets: |  |  |
Trademarks and tradenames(1) | $ | 379,466 |  |  | $ | 273,471 |
Amortized intangible assets: |  |  |
Other intangibles | 199,448 |  |  | 146,856 |
Less: accumulated amortization and impairment | (101,381) |  |  | (105,432) |
Net carrying amount | $ | 477,533 |  |  | $ | 314,895 |
(1) The gross carrying value of trademarks and trade names is reflected net of $94,873 and $93,273 of accumulated impairment charges as of June 30, 2022 and 2021, respectively. The Company completed its annual assessment of impairment for indefinite-lived intangible assets i n the fourth quarter of fiscal 2022. The assessment indicated that the fair value of the Company’s indefinite-lived intangible assets exceeded their carrying values and no impairment existed. See Note 4, Acquisitions and Dispositions, for details surrounding the acquisition of THWR, including $193,800 of identifiable intangible assets acquired on December 28, 2021. During fiscal 2022, the Company recorded an impairment of $1,600 related to an indefinite-lived intangible asset that has been deemed worthless. The amount of the impairment recorded represents the remaining carrying amount of the indefinite-lived intangible asset. The impairment loss is recorded within l ong-lived asset and intangibles impairment on the Consolidated Statements of Operations. The asset was part of the North America 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 7 to 25 years. Amortization expense was $10,214, $8,931 and $11,638 for the years ended June 30, 2022, 2021 and 2020, respectively. Expected amortization expense over the next five fiscal years is as follows:
| Fiscal Year Ending June 30,
| 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027
Estimated amortization expense | $ | 11,463 |  |  | $ | 8,748 |  |  | $ | 7,893 |  |  | $ | 7,509 |  |  | $ | 7,277 |
The weighted average remaining amortization period of amortized intangible assets is 13.7 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 https://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