Company: CHD
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000950170-25-019801
Chunk: 126

Company: CHURCH & DWIGHT CO INC /DE/
Filing Date: 2025-02-13
Form: 10-K
Item: Item 1B
Chunk 126
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        $
        234.4

        $
        136.0

        $
        2,431.5

        Graphico acquired goodwill
         
        0.0

        2.8

        0.0

        2.8

        Passport divestiture
         
        0.0

        0.0

        (1.1
        )

        (1.1
        )

        Balance at December 31, 2024
        $
        2,061.1

        $
        237.2

        $
        134.9

        $
        2,433.2

       The result of the Company’s annual goodwill impairment test, performed in the beginning of the second quarter of 2024, determined that the estimated fair value substantially exceeded the carrying values of all reporting units.  The determination of fair value contains numerous variables that are subject to change as business conditions change and therefore could impact fair value in the future.  

72

CHURCH & DWIGHT CO., INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)(In millions, except share and per share data) 

8.Leases The Company leases certain manufacturing facilities, warehouses, office space, railcars and equipment. Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheet.  All recorded leases are classified as operating leases and lease expense is recognized on a straight-line basis over the lease term. For leases beginning in 2019, lease components (base rental costs) are accounted for separately from the nonlease components (e.g., common-area maintenance costs).  For leases that do not provide an implicit rate, the Company uses its estimated secured incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.  A summary of the Company’s lease information is as follows:  

        December 31,

        December 31,

        Classification
        2024

        2023

        Assets

        Right of use assets
        Other Assets
        $
        182.3

        $
        186.0

        Liabilities

        Current lease liabilities
        Accrued and Other Liabilities
        $
        32.4

        $
        24.7

        Long-term lease liabilities
        Deferred and Other Long-term Liabilities