Assets and Liabilities Held for Sale

3 Months Ended

May 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale

Note 3 - Assets and Liabilities Held for Sale

During the fourth quarter of fiscal 2020, we committed to a plan to divest certain assets within our Personal Care business and accordingly, we classified the identified net assets of the disposal group as held for sale. The net assets to be disposed of include intangible assets, inventory, certain net trade receivables, fixed assets and certain accrued sales discounts and allowances relating to our mass channel liquids, powder and aerosol products under brands such as Pert, Brut, Sure and Infusium. The Personal Care divestiture was completed during the second quarter of fiscal 2022. See Note 16 for additional information.

The carrying amounts of the major classes of assets and liabilities for our Personal Care business that were classified as held for sale are as follows:

(in thousands)	May 31, 2021		February 28, 2021
Receivables, net of allowance of $89 and $30	$	16,415	$	7,979
Inventory	13,010		12,667
Property and equipment, net of accumulated depreciation of $403	100		100
Goodwill, net of accumulated impairment of $80,445	1,397		1,397
Other intangible assets, net of accumulated amortization of $4,474	17,724		17,724
Assets held for sale	$	48,646	$	39,867
Accrued sales discounts and allowances	$	5,757	$	—
Liabilities held for sale	$	5,757	$	—