Goodwill and Other Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill activity for the nine months ended September 30, 2018 is as follows (in millions):


											September 30, 2018
Segment	Net Book Value at December 31, 2017		Other Adjustments		Impairment Charges (1)			Foreign Exchange			Gross Carrying Amount		Accumulated Impairment Charges			Net Book Value
Food and Appliances	$	1,990.0	$	—	$	(1,766.9	)	$	(14.2	)	$	2,095.1	$	(1,886.2	)	$	208.9
Home and Outdoor Living		2,148.0		—		(1,985.0	)		(2.0	)		2,146.0		(1,985.0	)		161.0
Learning and Development		2,735.0		—		(105.3	)		(26.0	)		3,449.7		(846.0	)		2,603.7

	$	6,873.0	$	—	$	(3,857.2	)	$	(42.2	)	$	7,690.8	$	(4,717.2	)	$	2,973.6

(1)

The impairment charge was recorded as a result of the Company’s annual impairment testing, and resulted primarily from a decrease in the future forecasted cash flows, and a decrease in the Company’s market capitalization during the three months ended September 30, 2018. In the Food and Appliances segment, the impairment charge of $1.3 billion and $420 million was recorded within the Food and Appliances and Cookware reporting units, respectively. In the Home and Outdoor Living segment, the impairment charge of $875 million, $787 million and $323 million was recorded within the Home Fragrance, Outdoor and Recreation and Connected Home and Security reporting units, respectively. In the Learning and Development segment, the impairment charge was attributable to the Baby reporting unit.

Schedule of Other Intangible Assets and Related Amortization Periods

Other intangible assets, net are comprised of the following as of the dates indicated (in millions):


	September 30, 2018							December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value		Amortization Periods (in years)
Trade names — indefinite life	$	4,252.2	$	—		$	4,252.2	$	8,563.6	$	—		$	8,563.6		N/A
Trade names — other		169.6		(32.8	)		136.8		190.7		(35.7	)		155.0		2–15
Capitalized software		510.0		(336.2	)		173.8		485.8		(302.9	)		182.9		3–12
Patents and intellectual property		136.4		(72.8	)		63.6		152.0		(81.4	)		70.6		3–14
Customer relationships and distributor channels		1,268.5		(165.1	)		1,103.4		1,324.7		(159.6	)		1,165.1		3–30
Other		109.0		(67.4	)		41.6		112.8		(50.4	)		62.4		3–5

	$	6,445.7	$	(674.3	)	$	5,771.4	$	10,829.6	$	(630.0	)	$	10,199.6

Summary of Impairment Charges Allocated to Reporting Segments

The impairment charges were allocated to the Company’s reporting segments as follows (in millions):


	Three and Nine Months Ended September 30, 2018
Impairment of intangibles (1)
Food and Appliances	$	1,639.7
Home and Outdoor Living		2,385.1
Learning and Development		246.0

	$	4,270.8

(1)

In the Food and Appliances segment, impairment charges of $1.2 billion and $455 million were recorded within the Appliances and Cookware and Food reporting units, respectively. In the Home and Outdoor Living segment, impairment charges of $1.7 billion, $630 million and $75 million were recorded within the Home Fragrance, Outdoor and Recreation and Connected Home and Security reporting units, respectively. In the Learning and Development segment, the impairment charge recorded was attributable to the Baby reporting unit. These impairment charges were recorded as a result of the Company’s impairment testing, and resulted primarily from a decrease in the Company’s market capitalization during the three months ended September 30, 2018 and a deterioration of expected future revenues and margins related to certain tradenames within these segments.