Goodwill and Intangible Assets

3 Months Ended

May 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 8 - Goodwill and Intangible Assets

We perform annual impairment tests each fiscal year during the fourth quarter and interim impairment tests, if and when necessary. We did not record any impairment charges during the first quarters of fiscal 2021 or 2020.

The following table summarizes the carrying amounts and accumulated amortization for all intangible assets by segment as of the end of the periods presented:

	May 31, 2020								February 29, 2020
(in thousands)	Gross Carrying Amount		Cumulative Goodwill Impairments		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Cumulative Goodwill Impairments		Accumulated Amortization (1)		Net Book Value
Housewares:
Goodwill	$	282,056	$	—	$	—	$	282,056	$	282,056	$	—	$	—	$	282,056
Trademarks - indefinite	134,200		—		—		134,200		134,200		—		—		134,200
Other intangibles - finite	42,544		—		(21,969)		20,575		42,095		—		(21,469)		20,626
Subtotal	458,800		—		(21,969)		436,831		458,351		—		(21,469)		436,882
Health & Home:
Goodwill	284,913		—		—		284,913		284,913		—		—		284,913
Trademarks - indefinite	54,000		—		—		54,000		54,000		—		—		54,000
Licenses - finite	17,050		—		(15,840)		1,210		17,050		—		(15,752)		1,298
Licenses - indefinite	7,400		—		—		7,400		7,400		—		—		7,400
Other intangibles - finite	118,294		—		(100,504)		17,790		118,223		—		(98,142)		20,081
Subtotal	481,657		—		(116,344)		365,313		481,586		—		(113,894)		367,692
Beauty:
Goodwill	172,932		—		—		172,932		244,925		(71,993)		—		172,932
Trademarks - finite	30,151		—		(824)		29,327		33,392		—		(3,564)		29,828
Licenses - finite	13,697		—		(12,879)		818		13,697		—		(12,800)		897
Other intangibles - finite	33,036		—		(1,356)		31,680		79,171		—		(46,549)		32,622
Subtotal	249,816		—		(15,059)		234,757		371,185		(71,993)		(62,913)		236,279
Total	$	1,190,273	$	—	$	(153,372)	$	1,036,901	$	1,311,122	$	(71,993)	$	(198,276)	$	1,040,853

(1)Reflects the retirement and reclassification of accumulated amortization of $49.4 million related to impaired assets and assets held for sale related to the personal care business in the Beauty segment.

The following table summarizes the amortization expense attributable to intangible assets recorded in SG&A in the condensed consolidated statements of income for the periods shown below, as well as our estimated amortization expense for fiscal 2021 through 2026:

Aggregate Amortization Expense
For the three months ended (in thousands)
May 31, 2020	$	4,474
May 31, 2019	3,876

Estimated Amortization Expense (in thousands)
Fiscal 2021	$	16,651
Fiscal 2022	10,317
Fiscal 2023	10,243
Fiscal 2024	9,858
Fiscal 2025	9,194
Fiscal 2026	7,210