XML 34 R17.htm IDEA: XBRL DOCUMENT
v3.22.0.1

GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill at December 31, 2021, by segment, was as follows, in millions:
| Gross Goodwill At December 31, 2021 |  | Accumulated Impairment Losses |  | Net Goodwill At December 31, 2021
Plumbing Products (A) | $ | 662 |  |  | $ | (340) |  |  | $ | 322 |
Decorative Architectural Products | 366 |  |  | (120) |  |  | 246 |
Total | $ | 1,028 |  |  | $ | (460) |  |  | $ | 568 |
______________________________ (A) As a result of Hüppe being divested in May 2021, both gross goodwill and accumulated impairment losses for the Plumbing Products segment were reduced by $39 million. The changes in the carrying amount of goodwill for years ended December 31, 2021 and 2020, by segment, were as follows, in millions:
| Gross Goodwill At December 31, 2020 |  | Accumulated Impairment Losses |  | Net Goodwill At December 31, 2020 |  | Acquisitions |  |  |  | Pre-tax Impairment Charge |  | Other (B) |  | Net Goodwill At December 31, 2021
Plumbing Products | $ | 613 |  |  | $ | (340) |  |  | $ | 273 |  |  | $ | 63 |  |  |  |  | $ | — |  |  | $ | (14) |  |  | $ | 322 |
Decorative Architectural Products | 365 |  |  | (75) |  |  | 290 |  |  | 1 |  |  |  |  | (45) |  |  | — |  |  | 246 |
Total | $ | 978 |  |  | $ | (415) |  |  | $ | 563 |  |  | $ | 64 |  |  |  |  | $ | (45) |  |  | $ | (14) |  |  | $ | 568 |
| Gross Goodwill At December 31, 2019 |  | Accumulated Impairment Losses |  | Net Goodwill At December 31, 2019 |  | Acquisitions |  | Pre-tax Impairment Charge |  |  |  | Other (B) |  | Net Goodwill At December 31, 2020
Plumbing Products | $ | 566 |  |  | $ | (340) |  |  | $ | 226 |  |  | $ | 34 |  |  | $ | — |  |  |  |  | $ | 13 |  |  | $ | 273 |
Decorative Architectural Products | 358 |  |  | (75) |  |  | 283 |  |  | 7 |  |  | — |  |  |  |  | — |  |  | 290 |
Total | $ | 924 |  |  | $ | (415) |  |  | $ | 509 |  |  | $ | 41 |  |  | $ | — |  |  |  |  | $ | 13 |  |  | $ | 563 |
______________________________ (B) Other consists of the effect of foreign currency translation. In the fourth quarter of 2021, we recognized a $45 million non-cash goodwill impairment charge within our Decorative Architectural Products segment due to competitive market conditions and higher inflationary costs in our lighting business. Other indefinite-lived intangible assets were $109 million at both December 31, 2021 and 2020, respectively, and principally included registered trademarks. In the first quarter of 2019, we recognized a $9 million impairment charge related to a registered trademark in our Decorative Architectural Products segment due to a change in the long-term net sales projections of lighting products. We completed our annual impairment testing of goodwill and other indefinite-lived intangible assets in the fourth quarters of 2021, 2020 and 2019. There was no impairment of goodwill for any of our reporting units or of our other indefinite-lived intangible assets in any of these years, other than as disclosed above. H. GOODWILL AND OTHER INTANGIBLE ASSETS (Concluded) The carrying value of our definite-lived intangible assets wa s $279 million (net of accumulated amortization o f $75 million) at December 31, 2021 and $248 million (net of accumulated amortization of $73 million) at December 31, 2020 and principally included customer relationships with a weighted average amortization period of 15 years in both 2021 and 2020. Amortization expense, including discontinued operations, related to the definite-lived intangible assets wa s $31 million, $24 million and $23 million in 2021, 2020 and 2019, respectively. The increase in our definite-lived intangible assets is primarily a result of our acquisitions of Steamist and ESS. At December 31, 2021, amortization expense related to the definite-lived intangible assets during each of the next five years will be as follows: 2022 – $30 million; 2023 – $29 million; 2024 – $28 million, 2025 – $23 million and 2026 – $22 million

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration