HELEN OF TROY LTD
For the period ended Feb 28, 2025. Filed Apr 24, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Apr 24, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Management’s Report on Internal Control Over Financial Reporting
Helen of Troy’s management is responsible for establishing and maintaining adequate internal control over financial reporting as defined by Rules 13a-15(f) or 15d-15(f) under the Securities Exchange Act.
Our internal control system is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles and includes those policies and procedures that:
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect our transactions and dispositions of assets;
provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and Board of Directors; and
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.
There are inherent limitations in the effectiveness of internal control over financial reporting, including the possibility that misstatements may not be prevented or detected. Furthermore, the effectiveness of internal controls may become inadequate because of future changes in conditions, or variations in the degree of compliance with our policies or procedures.
Our management assesses the effectiveness of our internal control over financial reporting using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework.
On December 16, 2024, we completed our acquisition of Olive & June, LLC (“Olive & June”). In accordance with Securities Exchange Commission guidance permitting a company to exclude an acquired business from management’s assessment of the effectiveness of internal control over financial reporting for the year in which the acquisition is completed, we have excluded Olive & June from our assessment of the effectiveness of internal control over financial reporting as of February 28, 2025. The assets and net sales revenue of Olive & June that were excluded from our assessment constituted approximately 1.3 percent of the Company's total consolidated assets (excluding goodwill and intangibles, which are included within the scope of the assessment) and 1.2 percent of total consolidated net sales revenue, as of and for the year ended February 28, 2025. The scope of management’s assessment of the effectiveness of the design and operation of our disclosure controls and procedures as of February 28, 2025 includes all of our consolidated operations except for those disclosure controls and procedures of Olive & June. See Note 6 for additional information regarding the Olive & June acquisition. Based on our assessment, we have concluded that our internal control over financial reporting was effective as of February 28, 2025.
Our independent registered public accounting firm, Grant Thornton LLP, has issued an audit report on the effectiveness of our internal control over financial reporting. Their report appears on the following page.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.