Goodwill

3 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

A reconciliation of the activity affecting goodwill by operating segment is as follows:


(In thousands)				North American OTC Healthcare				International OTC Healthcare				Consolidated
Balance - March 31, 2020
	Goodwill	$	710,354			$	28,536			$	738,890
	Accumulated impairment loss	(163,711)				—				(163,711)
Balance - March 31, 2020				546,643				28,536				575,179




	Effects of foreign currency exchange rates	—				1,949				1,949
Balance - June 30, 2020
	Goodwill	710,354				30,485				740,839
	Accumulated impairment loss	(163,711)				—				(163,711)
Balance - June 30, 2020				$	546,643			$	30,485			$	577,128

On an annual basis during the fourth quarter of each fiscal year, or more frequently if conditions indicate that the carrying value of the asset may not be recoverable, management performs a review of the values assigned to goodwill and tests for impairment. On February 29, 2020, the date of our annual impairment review, there were no indicators of impairment as a result of the analysis and, accordingly, no impairment charge was taken on our March 31, 2020 financial statements. We utilize the discounted cash flow method to estimate the fair value of our reporting units as part of the goodwill impairment test. We also considered our market capitalization at February 29, 2020 as compared to the aggregate fair values of our reporting units, to assess the reasonableness of our estimates pursuant to the discounted cash flow methodology. The estimates and assumptions made in assessing the fair value of our reporting units and the valuation of the underlying assets and liabilities are inherently subject to significant uncertainties. Consequently, changing rates of interest and inflation, declining sales or margins, increasing competition, changing consumer preferences, technical advances, or reductions in advertising and marketing may require an impairment charge to be recorded in the future. As of June 30, 2020, no events have occurred that would indicate potential impairment of goodwill.