Goodwill and Other Intangible Assets

9 Months Ended

Mar. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

In the first nine months of fiscal 2012, there were additions to goodwill in the Consumer Healthcare and Rx Pharmaceuticals segments related to the acquisitions of CanAm and Paddock, respectively. The Company performs its annual testing for goodwill and indefinite-lived intangible asset impairment at the beginning of the fourth quarter of the fiscal year for all reporting units. Changes in the carrying amount of goodwill, by reportable segment, were as follows:



	Consumer Healthcare			Nutritionals		Rx Pharmaceuticals			API			Total
Balance as of June 25, 2011	$	126,309		$	331,744	$	81,631		$	98,361		$	638,045
Business acquisitions	15,040			—		148,865			—			163,905
Currency translation adjustment	(706		)	—		(5,880		)	(7,156		)	(13,742		)
Balance as of March 31, 2012	$	140,643		$	331,744	$	224,616		$	91,205		$	788,208

Other intangible assets and related accumulated amortization consisted of the following:



	March 31, 2012				June 25, 2011				March 26, 2011
	Gross		Accumulated Amortization		Gross		Accumulated Amortization		Gross		Accumulated Amortization
Amortizable intangibles:
Developed product technology/formulation and product rights	$	549,356	$	131,815	$	328,461	$	101,494	$	323,504	$	92,540
Customer relationships	342,405		46,259		331,081		32,029		331,501		28,077
Distribution and license agreements	53,004		22,838		52,790		19,844		51,794		18,591
Non-compete agreements	7,853		3,419		6,391		2,431		6,488		2,138
Trademarks	5,026		713		5,378		730		5,223		728
Total	957,644		205,044		724,101		156,528		718,510		142,074
Non-amortizable intangibles:
In-process research and development	35,000		—		—		—		—		—
Trade names and trademarks	7,481		—		6,857		—		6,868		—
Total intangibles	$	1,000,125	$	205,044	$	730,958	$	156,528	$	725,378	$	142,074

As of March 31, 2012, other intangible assets included additions made in the first nine months of fiscal 2012 that were attributable to the acquisitions of CanAm and Paddock, as discussed in Note 2. Certain intangible assets are denominated in currencies other than the U.S. dollar; therefore, their gross and net carrying values are subject to foreign currency movements.

The Company recorded amortization expense of $56,313 and $34,365 for the first nine months of fiscal 2012 and 2011, respectively, for intangible assets subject to amortization. The increase in amortization expense in the first nine months of fiscal 2012 was due primarily to the incremental amortization expense incurred on the amortizable intangible assets acquired as part of the Paddock acquisition.

Estimated future amortization expense includes the additional amortization related to recently acquired intangible assets currently subject to amortization. The estimated amortization expense for each of the following five years is as follows:



Fiscal Year	Amount
2012⁽¹⁾	$	18,600
2013	75,700
2014	75,600
2015	74,900
2016	72,800

⁽¹⁾ Reflects remaining three months of fiscal 2012.

- 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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