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Goodwill and Identifiable Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2021
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 |  |  | Outdoors & Security |  |  | Cabinets |  |  | Total Goodwill |
Goodwill at December 31, 2020(a) |  | $ | 750.1 |  |  | $ | 718.6 |  |  | $ | 926.1 |  |  | $ | 2,394.8 |
Year-to-date translation adjustments |  |  | 0.8 |  |  |  | 0.2 |  |  |  | 0.4 |  |  |  | 1.4 |
Acquisition-related adjustments |  |  | 65.5 |  |  |  | 4.9 |  |  |  | — |  |  |  | 70.4 |
Goodwill at September 30, 2021(a) |  | $ | 816.4 |  |  | $ | 723.7 |  |  | $ | 926.5 |  |  | $ | 2,466.6 |
| (a) | Net of accumulated impairment losses of $399.5 million in the Outdoors & 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, 2021 and December 31, 2020 were as follows:
(In millions) |  | As of September 30, 2021 |  |  | As of December 31, 2020 |
|  | Gross Carrying Amounts |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amounts |  |  | Accumulated Amortization |  |  | Net Book Value |
Indefinite-lived tradenames |  | $ | 711.7 |  |  | $ | — |  |  | $ | 711.7 |  |  | $ | 711.0 |  |  | $ | — |  |  | $ | 711.0 |
Amortizable intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames |  |  | 37.1 |  |  |  | (15.3 | ) |  |  | 21.8 |  |  |  | 34.8 |  |  |  | (14.0 | ) |  |  | 20.8 |
Customer and contractual relationships |  |  | 977.3 |  |  |  | (375.1 | ) |  |  | 602.2 |  |  |  | 973.2 |  |  |  | (337.3 | ) |  |  | 635.9 |
Patents/proprietary technology |  |  | 133.0 |  |  |  | (67.4 | ) |  |  | 65.6 |  |  |  | 109.6 |  |  |  | (57.0 | ) |  |  | 52.6 |
Total |  |  | 1,147.4 |  |  |  | (457.8 | ) |  |  | 689.6 |  |  |  | 1,117.6 |  |  |  | (408.3 | ) |  |  | 709.3 |
Total identifiable intangibles |  | $ | 1,859.1 |  |  | $ | (457.8 | ) |  | $ | 1,401.3 |  |  | $ | 1,828.6 |  |  | $ | (408.3 | ) |  | $ | 1,420.3 |
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 year ended December 31, 2020 were as follows:
|  | 2020 |
Unobservable Input |  | Minimum |  |  | Maximum |  |  | Weighted Average(a) |
Discount rate |  |  | 14.8 | % |  |  | 15.8 | % |  |  | 15.1 | %
Royalty rate(b) |  |  | 4.0 | % |  |  | 5.0 | % |  |  | 4.3 | %
Long-term revenue growth rate(c) |  |  | 1.0 | % |  |  | 3.0 | % |  |  | 1.6 | %
(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.

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