Proctor and Gamble 2011 Annual Report Download - page 60

58 The Procter & Gamble CompanyNotes to Consolidated Financial Statements
Amounts in millions of dollars except per share amounts or as otherwise specified.
New Accounting Pronouncements and Policies
Other than as described below, no new accounting pronouncement
issued or effective during the fiscal year has had or is expected to
have a material impact on the Consolidated Financial Statements.
DISCLOSURES ABOUT DERIVATIVE INSTRUMENTS
AND HEDGING ACTIVITIES
On January1,2009, we adopted new accounting guidance on disclo-
sures about derivative instruments and hedging activities. The new
guidance impacted disclosures only and requires additional qualitative
and quantitative information on the use of derivatives and their impact
on an entity’s financial position, results of operations and cash flows.
Refer to Note 5for additional information regarding our risk manage-
ment activities, including derivative instruments and hedging activities.
BUSINESS COMBINATIONS
On July1,2009, we adopted new accounting guidance on business
combinations. The new guidance revised the method of accounting
for a number of aspects of business combinations including acquisi-
tion costs, contingencies (including contingent assets, contingent
liabilities and contingent purchase price) and post-acquisition exit
activities of acquired businesses. The adoption of the new guidance
did not have a material effect on our financial position, results of
operations or cash flows.
NONCONTROLLING INTERESTS IN CONSOLIDATED
FINANCIALSTATEMENTS
On July1,2009, we adopted new accounting guidance on noncontrol-
ling interests in consolidated financial statements. The new accounting
guidance requires that a noncontrolling interest in the equity of a
subsidiary be accounted for and reported as equity, provides revised
guidance on the treatment of net income and losses attributable to
the noncontrolling interest and changes in ownership interests in a
subsidiary and requires additional disclosures that identify and
distinguish between the interests of the controlling and noncontrolling
owners. The Company’s retrospective adoption of the new guidance
on July1,2009, did not have a material effect on our financial position,
results of operations or cash flows. Net expense for income attribut-
able to the noncontrolling interests totaling $130 in 2011, $110 in
2010 and $86 in 2009 is not presented separately in the Consolidated
Statements of Earnings due to immateriality, but is reflected within
other non-operating income/(expense), net. After deduction of the
net expense for income attributable to noncontrolling interests, net
earnings represents net income attributable to the Company’s
common shareholders.
NOTE 2
GOODWILL AND INTANGIBLE ASSETS
The change in the net carrying amount of goodwill by reportable segment was as follows:
Beauty Grooming Health Care
Snacks and
PetCare
Fabric Care
and Home
Care
Baby Care
and Family
Care Corporate
Total
Company
GOODWILL AT JUNE ,  $18,668 $21,391 $8,404 $2,055 $4,408 $1,586 $— $56,512
Acquisitions and divestitures 18 (35)(249)154 (6)(1)298 179
Translation and other (1,111)(972)(296)(6)(154)(140) — (2,679)
GOODWILL AT JUNE ,  17,575 20,384 7,859 2,203 4,248 1,445 298 54,012
Acquisitions and divestitures (8)(6)(7)15 100 (1)11 104
Translation and other 1,501 1,243 327 25 241 109 —3,446
GOODWILL AT JUNE ,  19,068 21,621 8,179 2,243 4,589 1,553 309 57,562
The increase in goodwill during fiscal 2011 was primarily due to currency translation across all reportable segments and the acquisition of Ambi Pur
in our Fabric Care and Home Care reportable segment. The decrease in goodwill during fiscal 2010 was primarily due to currency translation
across all reportable segments and the divestiture of the global pharmaceuticals business partially offset by the acquisitions of MDVIP, a physicians’
network focused on preventative medicine, and Natura, a leading producer and distributor of branded premium natural pet foods.