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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | H. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill at December 31, 2024, by segment, was as follows, in millions:
| Gross Goodwill At December 31, 2024 |  | Accumulated Impairment Losses |  | Net Goodwill At December 31, 2024
Plumbing Products | $ | 667 |  |  | $ | (301) |  |  | $ | 367 |
Decorative Architectural Products (A) | 305 |  |  | (75) |  |  | 230 |
Total | $ | 973 |  |  | $ | (376) |  |  | $ | 597 |
(A) As a result of the divestiture of Kichler in the third quarter of 2024, both gross goodwill and accumulated impairment losses for the Decorative Architectural Products segment were reduced by $64 million as the goodwill had been fully impaired prior to the divestiture. H. GOODWILL AND OTHER INTANGIBLE ASSETS (Concluded) The changes in the carrying amount of goodwill for years ended December 31, 2024 and 2023, by segment, were as follows, in millions:
| Gross Goodwill At December 31, 2023 |  | Accumulated Impairment Losses |  | Net Goodwill At December 31, 2023 |  | Acquisitions (B) |  |  |  |  |  | Foreign Currency Translation |  | Net Goodwill At December 31, 2024
Plumbing Products | $ | 677 |  |  | $ | (301) |  |  | $ | 377 |  |  | $ | 2 |  |  |  |  |  |  | $ | (12) |  |  | $ | 367 |
Decorative Architectural Products | 366 |  |  | (139) |  |  | 227 |  |  | 4 |  |  |  |  |  |  | — |  |  | 230 |
Total | $ | 1,043 |  |  | $ | (440) |  |  | $ | 604 |  |  | $ | 6 |  |  |  |  |  |  | $ | (12) |  |  | $ | 597 |
| Gross Goodwill At December 31, 2022 |  | Accumulated Impairment Losses |  | Net Goodwill At December 31, 2022 |  | Acquisitions (B) |  |  |  |  |  | Foreign Currency Translation |  | Net Goodwill At December 31, 2023
Plumbing Products | $ | 611 |  |  | $ | (301) |  |  | $ | 310 |  |  | $ | 59 |  |  |  |  |  |  | $ | 7 |  |  | $ | 377 |
Decorative Architectural Products | 366 |  |  | (139) |  |  | 227 |  |  | — |  |  |  |  |  |  | — |  |  | 227 |
Total | $ | 977 |  |  | $ | (440) |  |  | $ | 537 |  |  | $ | 59 |  |  |  |  |  |  | $ | 7 |  |  | $ | 604 |
(B) In the third quarter of 2023, we acquired Sauna360 and during the third quarter of 2024, we recognized $2 million of goodwill in our Plumbing Products segment related to this acquisition (refer to Note B for additional information). In the second quarter of 2024, we recognized $4 million of goodwill in our Decorative Architectural Products segment related to an immaterial acquisition. Other indefinite-lived intangible assets were $79 million and $108 million at December 31, 2024 and 2023, respectively, and principally included registered trademarks. We completed our annual impairment testing of goodwill and other indefinite-lived intangible assets in the fourth quarters of 2024, 2023 and 2022. We recognized a $15 million non-cash impairment charge within our Decorative Architectural Products segment to other indefinite-lived intangible assets in the fourth quarter of 2023 due to competitive market conditions and increased cost of capital in our lighting business. We recognized a $19 million and $7 million non-cash impairment charge within our Decorative Architectural Products segment to goodwill and other indefinite-lived intangible assets, respectively, in the fourth quarter of 2022 due to competitive market conditions, higher inflationary costs and increased cost of capital in our lighting business. 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. The carrying value of our definite-lived intangible assets wa s $140 million (net of accumulated amortization o f $102 million) at December 31, 2024 and $269 million (net of accumulated amortization of $120 million) at December 31, 2023 and principally included customer relationships with a weighted average amortization period of 13 years in 2024 and 16 years in 2023. Amortization expense related to the definite-lived intangible assets wa s $29 million, $31 million and $29 million in 2024, 2023 and 2022, respectively. At December 31, 2024, amortization expense related to the definite-lived intangible assets during each of the next five years will be as follows: 2025 – $19 million; 2026 – $18 million; 2027 – $17 million; 2028 – $14 million and 2029 – $14 million. The decrease in our indefinite-lived intangible assets and definite-lived intangible assets is primarily a result of the divestiture of Kichler.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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