Goodwill

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill:

The changes in the carrying amount of goodwill in 2023, in total and by segment, are summarized in the table below (in millions):

	Balance as of December 31, 2022		Goodwill Reallocation (1)		Reallocation to Assets Held for Sale (2)		Balance as of September 30, 2023
Residential	$	26.1	$	—	$	—	$	26.1
Commercial (1)	61.1		94.5		—		155.6
Refrigeration (1)	99.1		(99.1)		—		$	—
Corporate and Other (1)	—		4.6		(4.6)		—
Total Goodwill	$	186.3	$	—	$	(4.6)	181.7

(1) As discussed in Note 2, we recast our segment presentation to present our Heatcraft Worldwide Refrigeration business as a component of our Commercial segment and our European portfolio as a component of Corporate & Other. Since there is no longer a Refrigeration segment, we allocated goodwill to each segment based upon the relative fair value of the business.

(2) As discussed in Note 6, we are presenting the assets and liabilities of our European businesses as Assets Held for Sale. There was $4.6 million of goodwill related to our European portfolio. As part of the loss on assets held for sale, we recorded an impairment of $2.3 million for a portion of the goodwill transferred.

We monitor our reporting units for indicators of impairment throughout the year to determine if a change in facts or circumstances warrants a re-evaluation of our goodwill. We have not recorded any goodwill impairments for the nine months ended September 30, 2023 or in any periods presented for our continuing businesses.