Goodwill and intangible assets deemed to have an indefinite life are not amortized, but are evaluated annually for impairment as part of our annual business planning cycle in the fourth fiscal quarter, or when indicators of a potential impairment are present.


	Batteries & Lights		Auto Care		Total
Balance at October 1, 2024	$	897.9	$	148.1	$	1,046.0
Centralsul Acquisition	—		0.1		0.1
Cumulative translation adjustment	3.9		0.1		4.0
Balance at June 30, 2025	$	901.8	$	148.3	$	1,050.1

During the third quarter of fiscal 2024, the Company determined a triggering event had occurred due to missed branded sales forecasts and elevated weighted average cost of capital. As a result, the Company performed an interim impairment analysis. The result of the impairment analysis indicated the carrying values of the Rayovac and Varta trade names were greater than their fair values, resulting in indefinite-lived intangible asset non-cash impairments of $85.2 and $25.4 for the Rayovac and Varta trade names, respectively.

The quantitative estimated fair value of the Rayovac trade name was determined using the multi-period excess earnings method, which requires significant assumptions, including estimates related to revenue growth rates, gross margin rates, operating expenses (SG&A, R&D, and A&P) and discount rates. The projections for the Rayovac fair value model were generated using the brand's historical performance and long-term category projections, to determine forecasted cash flows and operating data. Specifically, revenue growth assumptions were based on historical trends and management’s expectations for future growth of the category. Gross margin rate assumptions were based on historical trends, management's cost cutting strategies, and a market place participant's production capabilities. Operating expenses were based on historical trends. The discount rate used in the trade name fair value estimate was 11.5% and was based on a weighted-average cost of capital utilizing industry market data of similar companies. The new carrying value for the Rayovac trade name is $337.0.

The quantitative estimated fair value of the Varta trade name was determined using the relief from royalty model, which requires significant assumptions, including estimates related to revenue growth rates, royalty rates, and discount rates. The revenue projections for the Varta fair value model were based on the brand's historical performance and long-term category projections. Royalty rate assumptions were determined based on branded profit levels and research of external royalty rates by third-party experts. The discount rate used in the trade name fair value estimate was 11% and was based on a weighted-average cost of capital utilizing industry market data of similar companies. The new carrying value for the Varta trade name was $11.6 as of the date of the impairment. Following the impairment, the Varta trade name was converted to a definite lived intangible asset with a 15 year useful life. The conversion increased annual amortization by approximately $0.8.

Changes in the assumptions used to estimate the fair value of the Company's indefinite-lived intangible assets could result in impairment charges in future periods, which could be material. Additionally, certain factors have the potential to create variances in the estimated fair values of our indefinite-lived intangible assets, which also could result in material impairment charges. These factors include (i) failure to achieve forecasted revenue growth rates, (ii) failure to achieve cost cutting and margin improvement initiatives the Company is implementing, (iii) failure to meet forecasted operating expenses, or (iv) increases in the discount rate.


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trademarks and trade names	$	155.2	$	(44.4)	$	110.8
Customer relationships	395.2		(186.9)		208.3
Patents	34.7		(22.9)		11.8
Proprietary technology	172.5		(130.6)		41.9
Proprietary formulas	29.2		(16.7)		12.5
Total Amortizable intangible assets	786.8		(401.5)		385.3
Trademarks and trade names - indefinite lived	640.9		—		640.9
Total Other intangible assets, net	$	1,427.7	$	(401.5)	$	1,026.2


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trademarks and trade names	$	155.0	$	(37.8)	$	117.2
Customer relationships	395.0		(166.8)		228.2
Patents	34.5		(21.0)		13.5
Proprietary technology	172.5		(117.5)		55.0
Proprietary formulas	29.2		(13.8)		15.4
Total Amortizable intangible assets	786.2		(356.9)		429.3
Trademarks and trade names - indefinite lived	641.6		—		641.6
Total Other intangible assets, net	$	1,427.8	$	(356.9)	$	1,070.9