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Goodwill and Other Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets, Net | Footnote 9 — Goodwill and Other Intangible Assets, Net A summary of changes in the Company’s goodwill by reportable business segment is as follows for 2018 and 2017 (in millions):
|  |  |  |  |  |  |  |  |  |  |  |  |  | December 31, 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 | ) |  | $ | (11.9 | ) |  | $ | 2,097.4 |  |  | $ | (1,886.2 | ) |  | $ | 211.2 |
Home and Outdoor Living |  |  | 2,148.0 |  |  |  | — |  |  |  | (1,985.0 | ) |  |  | 0.8 |  |  |  | 2,148.8 |  |  |  | (1,985.0 | ) |  |  | 163.8 |
Learning and Development |  |  | 2,735.0 |  |  |  | — |  |  |  | (105.3 | ) |  |  | (34.5 | ) |  |  | 3,441.2 |  |  |  | (846.0 | ) |  |  | 2,595.2 |
|  | $ | 6,873.0 |  |  | $ | — |  |  | $ | (3,857.2 | ) |  | $ | (45.6 | ) |  | $ | 7,687.4 |  |  | $ | (4,717.2 | ) |  | $ | 2,970.2 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | December 31, 2017 |
Segment |  | Net Book Value at December 31, 2016 |  |  | Other Adjustments (2) |  |  | Impairment Charges |  |  | Foreign Exchange |  |  | Gross Carrying Amount |  |  | Accumulated Impairment Charges |  |  | Net Book Value |
Food and Appliances |  | $ | 1,791.8 |  |  | $ | 189.1 |  |  | $ | — |  |  | $ | 9.1 |  |  | $ | 2,109.3 |  |  | $ | (119.3 | ) |  | $ | 1,990.0 |
Home and Outdoor Living |  |  | 2,074.3 |  |  |  | 62.8 |  |  |  | — |  |  |  | 10.9 |  |  |  | 2,148.0 |  |  |  | — |  |  |  | 2,148.0 |
Learning and Development |  |  | 2,654.6 |  |  |  | 7.4 |  |  |  | — |  |  |  | 73.0 |  |  |  | 3,475.7 |  |  |  | (740.7 | ) |  |  | 2,735.0 |
|  | $ | 6,520.7 |  |  | $ | 259.3 |  |  | $ | — |  |  | $ | 93.0 |  |  | $ | 7,733.0 |  |  | $ | (860.0 | ) |  | $ | 6,873.0 |
(1) | In the Food and Appliances segment, the impairment charges of $1.3 billion and $420 million were recorded within the Food and Appliances and Cookware reporting units, respectively. In the Home and Outdoor Living segment, the impairment charges of $875 million, $787 million and $323 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 was attributable to the Baby reporting unit.
(2) | Comprised primarily of adjustments primarily related to the acquisitions of Sistema in Food and Appliances, Smith Mountain and Chesapeake Bay Candle in Home and Outdoors in 2017 and the Jarden Acquisition, whose purchase price allocation was finalized during the second quarter of 2017 (see Footnote 2).
The Company concluded that a triggering event had occurred during the third quarter of 2018 for all of its reporting units as a result of (1) the decline in the Company’s stock price during the third quarter such that the Company’s market capitalization was well below book value (net shareholders’ equity) and (2) updated cash flow projections for its businesses. During the fourth quarter of 2018, the Company concluded that another triggering event had occurred for the Food and Appliances, Connected Home and Security, Baby and Home Fragrance reporting units. In 2018, the Company recorded goodwill impairment charges of $3.9 billion to reduce the carrying values of these reporting units to their fair values. Other intangible asset impairment charges were allocated to the Company’s reporting segments as follows (in millions):
|  | Year Ended December 31, 2018 |
Impairment of intangibles (1) |  |  |  |
Food and Appliances |  | $ | 1,746.7 |
Home and Outdoor Living |  |  | 2,434.1 |
Learning and Development |  |  | 246.0 |
Total |  | $ | 4,426.8 |
| (1) | In the Food and Appliances segment, impairment charges of $1.3 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.
The table below summarizes the balance of other intangible assets, net and the related amortization periods using the straight-line method and attribution method as of December 31, (in millions):
|  | 2018 |  |  | 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 |  | $ | 4,093.0 |  |  | $ | — |  |  | $ | 4,093.0 |  |  | $ | 8,563.6 |  |  | $ | — |  |  | $ | 8,563.6 |  |  |  | N/A |
Trade names — other |  |  | 170.5 |  |  |  | (36.5 | ) |  |  | 134.0 |  |  |  | 190.7 |  |  |  | (35.7 | ) |  |  | 155.0 |  |  |  | 2-15 |
Capitalized software |  |  | 520.0 |  |  |  | (348.1 | ) |  |  | 171.9 |  |  |  | 485.8 |  |  |  | (302.9 | ) |  |  | 182.9 |  |  |  | 3–12 |
Patents and intellectual property |  |  | 136.4 |  |  |  | (79.2 | ) |  |  | 57.2 |  |  |  | 152.0 |  |  |  | (81.4 | ) |  |  | 70.6 |  |  |  | 3–14 |
Customer relationships and distributor channels |  |  | 1,269.7 |  |  |  | (180.9 | ) |  |  | 1,088.8 |  |  |  | 1,324.7 |  |  |  | (159.6 | ) |  |  | 1,165.1 |  |  |  | 3–30 |
Other |  |  | 109.0 |  |  |  | (74.3 | ) |  |  | 34.7 |  |  |  | 112.8 |  |  |  | (50.4 | ) |  |  | 62.4 |  |  |  | 3–5 |
|  | $ | 6,298.6 |  |  | $ | (719.0 | ) |  | $ | 5,579.6 |  |  | $ | 10,829.6 |  |  | $ | (630.0 | ) |  | $ | 10,199.6 |  |  |  |  |
Amortization expense for intangible assets for continuing operations was $187 million, $195 million and $123 million in 2018, 2017 and 2016, respectively. Amortization expense for intangible assets for discontinued operations was $44.6 million, $156 million and $99.8 million in 2018, 2017 and 2016, respectively, prior to the businesses meeting held for sale criteria. Amortization expense for 2017 includes a measurement period expense adjustment of $13.6 million, of which $16.4 million is related to continuing operations, related to the valuation of non-compete agreements within other intangible assets. As of December 31, 2018, the aggregate estimated intangible amortization amounts for the succeeding five years are as follows (in millions):
Years Ending December 31, |  | Amount |
2019 |  | $ | 178.1 |
2020 |  |  | 148.0 |
2021 |  |  | 122.3 |
2022 |  |  | 87.5 |
2023 |  |  | 68.7 |
Thereafter |  |  | 882.0 |

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- 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
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