v3.24.2
Goodwill and Other Intangible Assets, Net (Tables)
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill by Reportable Business Segment
Goodwill activity for the six months ended June 30, 2024 is as follows (in millions):
June 30, 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 (16)3,395 (1,087)2,308 
Outdoor and Recreation— — 788 (788)— 
$3,071 $(16)$8,235 $(5,180)$3,055 
Schedule of Other Intangible Assets, Net
Other intangible assets, net, are comprised of the following (in millions):
June 30, 2024December 31, 2023
Gross
Carrying
Amount
Accumulated Amortization
Net Book
Value
Gross
Carrying
Amount
Accumulated
Amortization
Net Book
Value
Tradenames — indefinite life (1)
$1,199 $— $1,199 $1,535 $— $1,535 
Tradenames — other (1)
549 (126)423 232 (105)127 
Capitalized software639 (528)111 628 (512)116 
Patents and intellectual property22 (21)1 22 (20)2 
Customer relationships and distributor channels1,070 (392)678 1,078 (370)708 
$3,479 $(1,067)$2,412 $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).