A reconciliation of the activity affecting goodwill by operating segment is as follows:


(In thousands)		North American OTC Healthcare		International OTC Healthcare		Consolidated
Balance - March 31, 2025
	Goodwill	$	711,452	$	30,076	$	741,528
	Accumulated impairment loss	(212,516)		(1,587)		(214,103)
Balance - March 31, 2025		498,936		28,489		527,425




	Effects of foreign currency exchange rates	—		889		889
Balance - June 30, 2025
	Goodwill	711,452		30,965		742,417
	Accumulated impairment loss	(212,516)		(1,587)		(214,103)
Balance - June 30, 2025		$	498,936	$	29,378	$	528,314

At February 28, 2025, the date of our annual impairment review, the estimated fair value exceeded the carrying value for all reporting units and, accordingly, no impairment charge was taken. The estimates and assumptions made in assessing the fair value of our reporting units and the valuation of the underlying assets and liabilities are inherently subject to significant uncertainties related to future sales, gross margins, and advertising and marketing expenses, which can be impacted by increases in competition, changing consumer preferences, technical advances, supply chain constraints, labor shortages, and inflation. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. If these assumptions are adversely affected, we may be required