Business Segments (Tables)
|
9 Months Ended |
Dec. 31, 2018 |
Segment Reporting [Abstract] |
|
Information about our Operating and Reportable Segments |
The tables below summarize information about our reportable segments. | | | | | | | | | | | | | | | | | | Three Months Ended December 31, 2018 | (In thousands) | North American OTC Healthcare |
| International OTC Healthcare |
| Household Cleaning |
| Consolidated | Total segment revenues* | $ | 216,776 |
|
| $ | 24,638 |
|
| $ | — |
|
| $ | 241,414 |
| Cost of sales | 91,594 |
|
| 10,585 |
|
| — |
|
| 102,179 |
| Gross profit | 125,182 |
|
| 14,053 |
|
| — |
|
| 139,235 |
| Advertising and promotion | 30,316 |
|
| 4,188 |
|
| — |
|
| 34,504 |
| Contribution margin | $ | 94,866 |
|
| $ | 9,865 |
|
| $ | — |
|
| 104,731 |
| Other operating expenses | |
|
|
|
| |
|
| 27,190 |
| Operating income | |
|
|
|
| |
|
| 77,541 |
| Other expense | |
|
|
|
| |
|
| 26,545 |
| Income before income taxes |
|
|
|
|
|
|
|
| 50,996 |
| Provision for income taxes | |
|
|
|
| |
|
| 12,829 |
| Net income |
|
|
|
|
|
|
|
| $ | 38,167 |
|
* Intersegment revenues of $1.3 million were eliminated from the North American OTC Healthcare segment.
| | | | | | | | | | | | | | | | | | Nine Months Ended December 31, 2018 | (In thousands) | North American OTC Healthcare | | International OTC Healthcare | | Household Cleaning | | Consolidated | Total segment revenues* | $ | 647,501 |
|
| $ | 67,439 |
|
| $ | 19,811 |
|
| $ | 734,751 |
| Cost of sales | 272,754 |
|
| 28,079 |
|
| 16,588 |
|
| 317,421 |
| Gross profit | 374,747 |
|
| 39,360 |
|
| 3,223 |
|
| 417,330 |
| Advertising and promotion | 96,899 |
|
| 11,328 |
|
| 430 |
|
| 108,657 |
| Contribution margin | $ | 277,848 |
|
| $ | 28,032 |
|
| $ | 2,793 |
|
| 308,673 |
| Other operating expenses | |
|
|
|
|
| |
|
| 87,721 |
| Operating income | |
|
|
|
|
| |
|
| 220,952 |
| Other expense | |
|
|
|
|
| |
|
| 79,977 |
| Income before income taxes |
|
|
|
|
|
|
|
|
| 140,975 |
| Provision for income taxes | |
|
|
|
|
| |
|
| 37,501 |
| Net income |
|
|
|
|
|
|
|
|
| $ | 103,474 |
|
* Intersegment revenues of $5.6 million were eliminated from the North American OTC Healthcare segment.
| | | | | | | | | | | | | | | | | | Three Months Ended December 31, 2017 | (In thousands) | North American OTC Healthcare |
| International OTC Healthcare |
| Household Cleaning |
| Consolidated | Total segment revenues* | $ | 225,695 |
|
| $ | 25,717 |
|
| $ | 19,203 |
|
| $ | 270,615 |
| Cost of sales | 95,164 |
|
| 10,511 |
|
| 17,266 |
|
| 122,941 |
| Gross profit | 130,531 |
|
| 15,206 |
|
| 1,937 |
|
| 147,674 |
| Advertising and promotion | 30,794 |
|
| 4,544 |
|
| 497 |
|
| 35,835 |
| Contribution margin | $ | 99,737 |
|
| $ | 10,662 |
|
| $ | 1,440 |
|
| 111,839 |
| Other operating expenses | |
|
|
|
| |
|
| 27,949 |
| Operating income | |
|
|
|
| |
|
| 83,890 |
| Other expense | |
|
|
|
| |
|
| 26,251 |
| Income before income taxes |
|
|
|
|
|
|
|
| 57,639 |
| Benefit for income taxes | |
|
|
|
| |
|
| (257,154 | ) | Net income |
|
|
|
|
|
|
|
| $ | 314,793 |
|
* Intersegment revenues of $1.9 million were eliminated from the North American OTC Healthcare segment.
| | | | | | | | | | | | | | | | | | Nine Months Ended December 31, 2017 | (In thousands) | North American OTC Healthcare | | International OTC Healthcare | | Household Cleaning | | Consolidated | Total segment revenues* | $ | 656,812 |
|
| $ | 67,572 |
|
| $ | 60,830 |
|
| $ | 785,214 |
| Cost of sales | 268,849 |
|
| 29,757 |
|
| 51,360 |
|
| 349,966 |
| Gross profit | 387,963 |
|
| 37,815 |
|
| 9,470 |
|
| 435,248 |
| Advertising and promotion | 98,666 |
|
| 11,827 |
|
| 1,474 |
|
| 111,967 |
| Contribution margin | $ | 289,297 |
|
| $ | 25,988 |
|
| $ | 7,996 |
|
| 323,281 |
| Other operating expenses | |
|
|
|
| |
|
| 84,711 |
| Operating income | |
|
|
|
| |
|
| 238,570 |
| Other expense | |
|
|
|
| |
|
| 78,922 |
| Income before income taxes |
|
|
|
|
|
|
|
| 159,648 |
| Benefit for income taxes | |
|
|
|
| |
|
| (219,609 | ) | Net income |
|
|
|
|
|
|
|
| $ | 379,257 |
|
* Intersegment revenues of $5.6 million were eliminated from the North American OTC Healthcare segment.
|
Information about our Revenues from Similar Product Groups |
The tables below summarize information about our segment revenues from similar product groups. | | | | | | | | | | | | | | | | | | Three Months Ended December 31, 2018 | (In thousands) | North American OTC Healthcare | | International OTC Healthcare | | Household Cleaning | | Consolidated | Analgesics | $ | 29,325 |
| | $ | 136 |
| | $ | — |
| | $ | 29,461 |
| Cough & Cold | 27,137 |
| | 4,584 |
| | — |
| | 31,721 |
| Women's Health | 60,946 |
| | 3,306 |
| | — |
| | 64,252 |
| Gastrointestinal | 30,737 |
| | 10,321 |
| | — |
| | 41,058 |
| Eye & Ear Care | 23,352 |
| | 3,164 |
| | — |
| | 26,516 |
| Dermatologicals | 21,508 |
| | 470 |
| | — |
| | 21,978 |
| Oral Care | 22,177 |
| | 2,656 |
| | — |
| | 24,833 |
| Other OTC | 1,594 |
| | 1 |
| | — |
| | 1,595 |
| Household Cleaning | — |
| | — |
| | — |
| | — |
| Total segment revenues | $ | 216,776 |
| | $ | 24,638 |
| | $ | — |
| | $ | 241,414 |
|
| | | | | | | | | | | | | | | | | | Nine Months Ended December 31, 2018 | (In thousands) | North American OTC Healthcare | | International OTC Healthcare | | Household Cleaning | | Consolidated | Analgesics | $ | 86,221 |
| | $ | 418 |
| | $ | — |
| | $ | 86,639 |
| Cough & Cold | 63,843 |
| | 15,489 |
| | — |
| | 79,332 |
| Women's Health | 186,037 |
| | 8,833 |
| | — |
| | 194,870 |
| Gastrointestinal | 94,065 |
| | 24,261 |
| | — |
| | 118,326 |
| Eye & Ear Care | 73,669 |
| | 8,778 |
| | — |
| | 82,447 |
| Dermatologicals | 71,968 |
| | 1,607 |
| | — |
| | 73,575 |
| Oral Care | 67,516 |
| | 8,050 |
| | — |
| | 75,566 |
| Other OTC | 4,182 |
| | 3 |
| | — |
| | 4,185 |
| Household Cleaning | — |
| | — |
| | 19,811 |
| | 19,811 |
| Total segment revenues | $ | 647,501 |
| | $ | 67,439 |
| | $ | 19,811 |
| | $ | 734,751 |
|
| | | | | | | | | | | | | | | | | | Three Months Ended December 31, 2017 | (In thousands) | North American OTC Healthcare | | International OTC Healthcare | | Household Cleaning | | Consolidated | Analgesics | $ | 31,293 |
| | $ | 160 |
| | $ | — |
| | $ | 31,453 |
| Cough & Cold | 28,761 |
| | 4,331 |
| | — |
| | 33,092 |
| Women's Health | 63,107 |
| | 2,940 |
| | — |
| | 66,047 |
| Gastrointestinal | 29,392 |
| | 11,251 |
| | — |
| | 40,643 |
| Eye & Ear Care | 21,631 |
| | 3,205 |
| | — |
| | 24,836 |
| Dermatologicals | 22,736 |
| | 562 |
| | — |
| | 23,298 |
| Oral Care | 27,144 |
| | 3,267 |
| | — |
| | 30,411 |
| Other OTC | 1,631 |
| | 1 |
| | — |
| | 1,632 |
| Household Cleaning | — |
| | — |
| | 19,203 |
| | 19,203 |
| Total segment revenues | $ | 225,695 |
| | $ | 25,717 |
| | $ | 19,203 |
| | $ | 270,615 |
|
| | | | | | | | | | | | | | | | | | Nine Months Ended December 31, 2017 | (In thousands) | North American OTC Healthcare | | International OTC Healthcare | | Household Cleaning | | Consolidated | Analgesics | $ | 89,931 |
| | $ | 709 |
| | $ | — |
| | $ | 90,640 |
| Cough & Cold | 67,738 |
| | 13,603 |
| | — |
| | 81,341 |
| Women's Health | 187,688 |
| | 8,440 |
| | — |
| | 196,128 |
| Gastrointestinal | 88,145 |
| | 25,123 |
| | — |
| | 113,268 |
| Eye & Ear Care | 69,437 |
| | 8,850 |
| | — |
| | 78,287 |
| Dermatologicals | 72,688 |
| | 1,587 |
| | — |
| | 74,275 |
| Oral Care | 77,026 |
| | 9,256 |
| | — |
| | 86,282 |
| Other OTC | 4,159 |
| | 4 |
| | — |
| | 4,163 |
| Household Cleaning | — |
| | — |
| | 60,830 |
| | 60,830 |
| Total segment revenues | $ | 656,812 |
| | $ | 67,572 |
| | $ | 60,830 |
| | $ | 785,214 |
|
|
Information about our Segment Revenues by Geographic Area |
Our total segment revenues by geographic area are as follows: | | | | | | | | | | | | | | | | | | Three Months Ended December 31, | | Nine Months Ended December 31, | | 2018 | | 2017 | | 2018 | | 2017 | United States | $ | 204,943 |
|
| $ | 232,583 |
| | $ | 632,183 |
|
| $ | 682,928 |
| Rest of world | 36,471 |
|
| 38,032 |
| | 102,568 |
|
| 102,286 |
| Total | $ | 241,414 |
|
| $ | 270,615 |
| | $ | 734,751 |
|
| $ | 785,214 |
|
|
Information about our Consolidated Goodwill and Intangible Assets Allocated to Reportable Segments |
Our consolidated goodwill and intangible assets have been allocated to the reportable segments as follows: | | | | | | | | | | | | | | | | | December 31, 2018 | North American OTC Healthcare | | International OTC Healthcare | | Household Cleaning | | Consolidated | (In thousands) | | | | | | | | Goodwill | $ | 580,934 |
| | $ | 31,022 |
| | $ | — |
| | $ | 611,956 |
| | | | | | | | | Intangible assets | | | | | | | |
| Indefinite-lived | 2,375,735 |
| | 77,085 |
| | — |
| | 2,452,820 |
| Finite-lived, net | 249,637 |
| | 5,368 |
| | — |
| | 255,005 |
| Intangible assets, net | 2,625,372 |
| | 82,453 |
| | — |
| | 2,707,825 |
| Total | $ | 3,206,306 |
| | $ | 113,475 |
| | $ | — |
| | $ | 3,319,781 |
|
| | | | | | | | | | | | | | | | | March 31, 2018 | North American OTC Healthcare | | International OTC Healthcare | | Household Cleaning | | Consolidated | (In thousands) | | | | | | | | Goodwill | $ | 580,934 |
|
| $ | 32,919 |
|
| $ | 6,245 |
|
| $ | 620,098 |
| |
|
|
|
|
|
|
|
|
|
| Intangible assets |
|
|
|
|
|
|
|
| |
| Indefinite-lived | 2,375,736 |
| | 84,006 |
| | 30,561 |
| | 2,490,303 |
| Finite-lived, net | 265,356 |
| | 6,068 |
| | 19,189 |
| | 290,613 |
| Intangible assets, net | 2,641,092 |
| | 90,074 |
| | 49,750 |
| | 2,780,916 |
| Total | $ | 3,222,026 |
| | $ | 122,993 |
| | $ | 55,995 |
| | $ | 3,401,014 |
|
|