Goodwill and Identifiable Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Change in Net Carrying Amount of Goodwill by Segment

The change in the net carrying amount of goodwill by segment was as follows:

(In millions)	Plumbing			Doors & Security			Cabinets			Total Goodwill
Goodwill at December 31, 2019^(a)	$	747.3		$	417.4		$	925.5		$	2,090.2
Year-to-date translation adjustments		(3.9	)		(0.3	)		(0.8	)		(5.0	)
Goodwill at September 30, 2020^(a)	$	743.4		$	417.1		$	924.7		$	2,085.2

^(a)

Net of accumulated impairment losses of $399.5 million in the Doors & Security segment.

Gross Carrying Value and Accumulated Amortization by Class of Identifiable Intangible Assets

The gross carrying value and accumulated amortization by class of identifiable intangible assets as of September 30, 2020 and December 31, 2019 were as follows:

(In millions)	As of September 30, 2020							As of December 31, 2019
	Gross Carrying Amounts		Accumulated Amortization			Net Book Value		Gross Carrying Amounts		Accumulated Amortization			Net Book Value
Indefinite-lived tradenames	$	597.5	$	—		$	597.5	$	635.6	$	—		$	635.6
Amortizable intangible assets
Tradenames		33.5		(13.4	)		20.1		20.6		(12.9	)		7.7
Customer and contractual relationships		799.9		(325.6	)		474.3		803.9		(299.6	)		504.3
Patents/proprietary technology		75.5		(56.2	)		19.3		73.4		(52.1	)		21.3
Total		908.9		(395.2	)		513.7		897.9		(364.6	)		533.3
Total identifiable intangibles	$	1,506.4	$	(395.2	)	$	1,111.2	$	1,533.5	$	(364.6	)	$	1,168.9

Significant Assumptions Used to Estimate the Fair Values of Tradenames Impaired

The significant assumptions used to estimate the fair values of the tradenames impaired during the nine months ended September 30, 2020 and the year ended December 31, 2019 were as follows:

	2020									2019
Unobservable Input	Minimum			Maximum			Weighted Average^(a)			Minimum			Maximum			Weighted Average^(a)
Discount rate		14.8	%		15.8	%		15.1	%		13.0	%		13.5	%		13.3	%
Royalty rate^(b)		4.0	%		5.0	%		4.3	%		3.0	%		4.0	%		3.3	%
Long-term revenue growth rate^(c)		1.0	%		3.0	%		1.6	%		3.0	%		3.0	%		3.0	%

^(a)	^{Weighted by relative fair value of the impaired tradenames.}

^(b)	^{Represents estimated percentage of sales a market-participant would pay to license the impaired tradenames.}

^(c)	^{Selected long-term revenue growth rate within 10-year projection period of the impaired tradenames.}