v3.24.2.u1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill

The following table shows the changes in the carrying amount of goodwill by reportable segment:

 

 

North America

 

 

International

 

 

Total

 

Balance as of June 30, 2022(1)

 

$

695,715

 

 

$

238,081

 

 

$

933,796

 

Acquisition(2)

 

 

(794

)

 

 

—

 

 

 

(794

)

Divestiture(3)

 

 

(3,054

)

 

 

—

 

 

 

(3,054

)

Translation

 

 

5,186

 

 

 

3,506

 

 

 

8,692

 

Balance as of June 30, 2023

 

 

697,053

 

 

 

241,587

 

 

 

938,640

 

Divestiture(4)

 

 

(6,267

)

 

 

 

 

 

(6,267

)

Translation

 

 

(1,318

)

 

 

(1,751

)

 

 

(3,069

)

Balance as of June 30, 2024

 

$

689,468

 

 

$

239,836

 

 

$

929,304

 

 

(1)
The total carrying value of goodwill is reflected net of $134,277 of accumulated impairment charges, of which $7,700 is related to the North America reportable segment and $126,577 is related to the International reportable segment.
(2)
During the fiscal year ended June 30, 2023, the Company finalized purchase accounting related to “That's How We Roll” (“THWR”) resulting in a $794 reduction to goodwill.
(3)
During the fiscal year ended June 30, 2023, the Company completed the divestiture of Westbrae®, a component of the North America reportable segment. Goodwill of $3,054 was assigned to the divested component on a relative fair value basis.
(4)
During the fiscal year ended June 30, 2024, the Company completed the divestitures of Thinsters® and Queen Helene®, both were components of the North America reportable segment. Goodwill of $5,732 and $535 was assigned to divested components of Thinsters® and Queen Helene®, respectively, on a relative fair value basis.
Schedule of Balance Sheet Information for Intangible Assets, Excluding Goodwill

The following table sets forth balance sheet information for intangible assets, excluding goodwill, subject to amortization and intangible assets not subject to amortization:

 

 

Fiscal Year Ended June 30,

 

 

2024

 

 

2023

 

Non-amortized intangible assets:

 

 

 

 

 

 

Trademarks and tradenames(1)

 

$

195,237

 

 

$

250,860

 

Amortized intangible assets:

 

 

 

 

 

 

Other intangibles(2)(3)

 

 

167,886

 

 

 

161,874

 

Less: Accumulated amortization

 

 

(118,324

)

 

 

(114,629

)

Net amortized intangible assets

 

$

49,562

 

 

$

47,245

 

Net other intangible assets

 

$

244,799

 

 

$

298,105

 

 

(1)
The gross carrying value of trademarks and tradenames is reflected net of $251,551 and $223,981 of accumulated impairment charges as of June 30, 2024 and 2023, respectively.
(2)
The reduction in carrying value of other intangible assets as of June 30, 2024 reflected a non-cash impairment charge of $17,032 and $45,798 recognized in the fiscal year ended June 30, 2024 and 2023, respectively.
(3)
During the fiscal year 2024, the useful life for certain North America personal care tradenames (namely, Avalon Organics®, and JASON®), the MaraNatha® trademark, and the trademarks for the plant-based beverage brands: Happy™ and Joya® was changed from indefinite to definite. The carrying value of such intangible assets as of June 30, 2024 was $27,259.
Schedule of Non-Cash Impairment Charges

Non-cash impairment charges, recorded within intangibles and long-lived asset impairment on the consolidated statements of operations, for the fiscal years ended June 30, 2024 and June 30, 2023 were as follows:

 

 

Fiscal Year Ended June 30,

 

 

2024

 

 

2023

 

Personal care tradenames (Alba Botanica®, Avalon Organics®, and JASON®)

 

$

12,815

 

 

$

—

 

Thinsters® trademark and customer relationships

 

 

10,797

 

 

 

8,500

 

ParmCrisps® customer relationships

 

 

10,586

 

 

 

45,798

 

ParmCrisps® trademark

 

 

8,000

 

 

 

102,000

 

Happy™ and Joya® trademarks

 

 

2,260

 

 

 

4,691

 

Queen Helene®

 

 

—

 

 

 

9,150

 

Imagine®

 

 

—

 

 

 

4,767

 

Other

 

 

144

 

 

 

—

 

 

 

$

44,602

 

 

$

174,906

 
Schedule of Expected Amortization Expense

 

Fiscal Year Ending June 30,

 

 

2025

 

 

2026

 

 

2027

 

 

2028

 

 

2029

 

Estimated amortization expense

 

$

7,197

 

 

$

6,205

 

 

$

6,120

 

 

$

5,187

 

 

$

4,747