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IMPAIRMENT CHARGES
 9 Months Ended
Sep. 30, 2021
Restructuring and Related Activities [Abstract]  
IMPAIRMENT CHARGES IMPAIRMENT CHARGESmpairment charges are reported in “Impairments” in the Consolidated Condensed Statements of Operations. We did not have any impairment charges in the three and nine months ended September 30, 2021. Impairment charges in the three and nine months ended September 30, 2020 are shown below:
Nine Months EndedThree Months Ended
September 30, 2020September 30, 2020
 Goodwill ImpairmentsOther Long-Lived Assets ImpairmentsTotal ImpairmentsGoodwill ImpairmentsOther Long-Lived Assets ImpairmentsTotal Impairments
Bedding Products$— $.3 $.3 $— $— $— 
Specialized Products25.4 — 25.4 — — — 
Furniture, Flooring & Textile Products— .2 .2 — — — 
Unallocated 1
— 3.5 3.5 — — — 
Total impairment charges$25.4 $4.0 $29.4 $— $— $— 
1 We incurred a $3.5 charge in the nine months ended September 30, 2020 to write off stock associated with a prior year divestiture that filed bankruptcy in 2020.    
Goodwill Impairment Testing
We test goodwill for impairment at the reporting unit level (the business groups that are one level below the operating segments) when triggering events occur, or at least annually. We perform our annual goodwill impairment testing in the second quarter. The 2021 goodwill impairment testing indicated no impairments.
The annual review performed in the second quarter of 2020 resulted in a $25.4 non-cash goodwill impairment charge with respect to our Hydraulic Cylinders reporting unit (which is a part of the Specialized Products segment) and reflected the complete write-off of the goodwill associated with this reporting unit.
The fair values of our reporting units in relation to their respective carrying values and significant assumptions used are presented in the tables below. If actual results differ materially from estimates used in these calculations, we could incur future impairment charges.
2021
Fair Value over Carrying Value divided by Carrying ValueSeptember 30, 2021 Goodwill Value10-year Compound Annual Growth Rate Range for SalesTerminal Values Long-term Growth Rate for Debt-Free Cash FlowDiscount Rate Ranges
Less than 50% 1
$69.8 
   7.8%
3.0 %
   10.0%
50% - 100% 2
101.0 
   5.5
3.0 
   9.0
101% - 300%1,091.2 
3.1 - 3.3
3.0 
8.0 - 8.5
Greater than 300%194.7 
2.9 - 10.4
3.0 
   9.0
$1,456.7 
2.9% - 10.4%
3.0 %
8.0% - 10.0%
2020
Fair Value over Carrying Value divided by Carrying ValueDecember 31, 2020 Goodwill Value10-year Compound Annual Growth Rate Range for SalesTerminal Values Long-term Growth Rate for Debt-Free Cash FlowDiscount Rate Ranges
Less than 50% 2
$97.2 
2.1%
3.0 %
   9.0%
50% - 100% 3
916.3 
2.0 - 3.6
3.0 
9.0 - 10.0
101% - 300%247.7 
1.6 - 1.7
3.0 
8.5 - 9.5
Greater than 300%127.6 
   6.7
3.0 
   9.0
$1,388.8 
1.6% - 6.7%
3.0 %
8.5% - 10.0%
1     This category includes one reporting unit, Aerospace, which had fair value exceeding its carrying value by 28% at September 30, 2021 as compared to 51% in 2020. Goodwill associated with the Aerospace reporting unit was $69.8 at September 30, 2021 and $59.5 at December 31, 2020.
2     This category includes one reporting unit, Work Furniture, which had fair value exceeding its carrying value by 85% at September 30, 2021 as compared to 25% in 2020. Goodwill associated with the Work Furniture reporting unit was $101.0 at September 30, 2021 and $97.2 at December 31, 2020.
3     This category includes two reporting units consisting of Aerospace (discussed above) and Bedding, which had fair value exceeding its carrying value by 171% at September 30, 2021 as compared to 65% in 2020. Goodwill associated with the Bedding reporting unit was $912.6 at September 30, 2021 and $856.8 at December 31, 2020.