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Goodwill And Other Intangibles

6 Months Ended

Jul. 01, 2011

10.

Goodwill and Other Intangibles

The following table provides information related to the carrying value of all intangible assets, other than goodwill:


	July 1, 2011								December 31, 2010
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net		Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Amortizable intangible assets:
Tradenames	$	118.5	$	(57.9	)	$	60.6	3-20	$	117.1	$	(53.9	)	$	63.2
Customer Relationships		253.8		(57.3	)		196.5	15-20		250.5		(50.5	)		200.0
Patents/Formulas		38.5		(23.0	)		15.5	4-20		38.5		(21.0	)		17.5
Non Compete Agreement		1.4		(1.1	)		0.3	5-10		1.4		(1.0	)		0.4

Total	$	412.2	$	(139.3	)	$	272.9		$	407.5	$	(126.4	)	$	281.1

July 1,
2011

December 31,
2010

Indefinite lived intangible assets - Carrying value

Tradenames

644.2

591.4

Intangible amortization expense amounted to $6.3 million and $5.9 million for the second quarter of 2011 and 2010, respectively. Intangible amortization expense amounted to $12.6 million for the first six months of 2011 and $11.8 million for the same period of 2010. The Company estimates that intangible amortization expense will be approximately $25.0 million in 2011 and approximately $21.0 to $23.0 million in each of the next four years.

Indefinite lived tradenames and customer relationships intangible assets increased in the quarter ended July 1, 2011 due to the Batiste Acquisition. The acquired intangible assets reflect their preliminary allocable purchase price as of June 28, 2011.

The changes in the carrying amount of goodwill for the six months ended July 1, 2011 are as follows:


(In millions)	Consumer Domestic		Consumer International		Specialty Products		Total
Balance December 31, 2010	$	800.7	$	36.5	$	20.2	$	857.4
Additional contingent consideration		0.2		0.0		0.0		0.2
Preliminary Batiste acquired goodwill		0.0		10.7		0.0		10.7

Balance July 1, 2011	$	800.9	$	47.2	$	20.2	$	868.3

The Company performed its annual goodwill impairment test in the beginning of the second quarter of 2011, and no adjustments were required.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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