v3.24.1.u1
Goodwill and Other Intangible Assets, Net
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets, Net Goodwill and Other Intangible Assets, Net
Goodwill activity for the three months ended March 31, 2024 is as follows (in millions):
March 31, 2024
Segments
Net Book Value at December 31, 2023
Foreign
Exchange
Gross
Carrying
Amount
Accumulated
Impairment
Charges
Net Book Value
Home and Commercial Solutions$747 $— $4,052 $(3,305)$747 
Learning and Development2,324 (12)3,399 (1,087)2,312 
Outdoor and Recreation— — 788 (788)— 
$3,071 $(12)$8,239 $(5,180)$3,059 

Other intangible assets, net, are comprised of the following (in millions):
March 31, 2024December 31, 2023
Gross
Carrying
Amount
Accumulated Amortization
Net Book
Value
Gross
Carrying
Amount
Accumulated
Amortization
Net Book
Value
Tradenames — indefinite life (1)
$1,202 $— $1,202 $1,535 $— $1,535 
Tradenames — other (1)
551 (116)435 232 (105)127 
Capitalized software633 (519)114 628 (512)116 
Patents and intellectual property22 (20)2 22 (20)2 
Customer relationships and distributor channels1,075 (381)694 1,078 (370)708 
$3,483 $(1,036)$2,447 $3,495 $(1,007)$2,488 
(1)In alignment with the Company’s strategy, the Company determined that certain tradenames with aggregate carrying values of $322 million no longer met the criteria to be classified as indefinite-lived tradenames effective January 1, 2024. The estimated useful lives range from 10 to 15 years, which will increase the Company’s annual amortization expense by $25 million, approximately $6 million quarterly (approximately $0.01 net loss per share per quarter).

Amortization expense for intangible assets was $34 million and $27 million for the three months ended March 31, 2024 and 2023, respectively.