XML 53 R35.htm IDEA: XBRL DOCUMENT
v3.22.4

Goodwill and Other Intangible Assets, Net (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Changes in Goodwill by Reportable Business Segment | A summary of changes in the Company’s goodwill by reportable business segment is as follows for 2022 and 2021 (in millions):
|  |  |  |  |  |  |  |  |  | December 31, 2022
Segments: |  | Net Book Value at December 31, 2021 |  |  |  | Impairment Charges |  | Foreign Exchange |  | Gross Carrying Amount |  | Accumulated Impairment Charges |  | Net Book Value
Commercial Solutions |  | $ | 747 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 916 |  |  | $ | (169) |  |  | $ | 747 |
Home Appliances |  | — |  |  |  |  | — |  |  | — |  |  | 569 |  |  | (569) |  |  | — |
Home Solutions |  | 164 |  |  |  |  | (164) |  |  | — |  |  | 2,567 |  |  | (2,567) |  |  | — |
Learning and Development |  | 2,593 |  |  |  |  | — |  |  | (42) |  |  | 3,397 |  |  | (846) |  |  | 2,551 |
Outdoor and Recreation |  | — |  |  |  |  | — |  |  | — |  |  | 788 |  |  | (788) |  |  | — |
|  | $ | 3,504 |  |  |  |  | $ | (164) |  |  | $ | (42) |  |  | $ | 8,237 |  |  | $ | (4,939) |  |  | $ | 3,298 |
|  |  |  |  |  |  |  |  |  | December 31, 2021
Segments: |  | Net Book Value at December 31, 2020 |  |  |  |  |  | Foreign Exchange |  | Gross Carrying Amount |  | Accumulated Impairment Charges |  | Net Book Value
Commercial Solutions |  | $ | 747 |  |  |  |  |  |  | $ | — |  |  | $ | 1,241 |  |  | $ | (494) |  |  | $ | 747 |
Home Appliances |  | — |  |  |  |  |  |  | — |  |  | 569 |  |  | (569) |  |  | — |
Home Solutions |  | 164 |  |  |  |  |  |  | — |  |  | 2,567 |  |  | (2,403) |  |  | 164 |
Learning and Development |  | 2,642 |  |  |  |  |  |  | (49) |  |  | 3,439 |  |  | (846) |  |  | 2,593 |
Outdoor and Recreation |  | — |  |  |  |  |  |  | — |  |  | 788 |  |  | (788) |  |  | — |
|  | $ | 3,553 |  |  |  |  |  |  | $ | (49) |  |  | $ | 8,604 |  |  | $ | (5,100) |  |  | $ | 3,504 |
Summary of Other Intangible Asset Impairment Charges Allocated to Reporting Segments | The impairment charges for indefinite-lived tradenames were recorded in the Company’s reporting segments as follows for the years ended December 31, (in millions):
| 2022 (1) |  | 2021 (2) |  | 2020 (3)
Impairment of indefinite-lived tradenames |  |  |  |  |
Commercial Solutions | $ | — |  |  | $ | 29 |  |  | $ | 320 |
Home Appliances | 15 |  |  | — |  |  | 87 |
Home Solutions | 265 |  |  | — |  |  | 290 |
Learning and Development | 30 |  |  | 31 |  |  | 100 |
Outdoor and Recreation | — |  |  | — |  |  | 482 |
| $ | 310 |  |  | $ | 60 |  |  | $ | 1,279 |
(1)During the fourth quarter of 2022, in conjunction with its annual impairment testing, the Company recorded aggregate non-cash impairment charges of $270 million associated with two tradenames in the Home Solutions segment and one tradename in the Learning and Development segment, as the carrying values exceeded their fair values. The decline in fair values for one tradename in the Home Solutions segment and the tradename in the Learning and Development segment reflected a further downward revision to the forecasted cash flows used in connection with the third quarter triggering event assessment, driven by inflationary pressures which are impacting discretionary spending behavior of consumers at higher rates than previously expected, including higher than expected overhead costs. The decline in fair value for the remaining tradename in the Home Solutions segment reflected a change in management's assumptions, including the timing of a labor shortage recovery in a certain international market, which negatively impacted the long-term profitability estimates used to develop the forecasted cash flow projections for the annual impairment test. During the third quarter of 2022, the Company concluded that a triggering event had occurred for one indefinite-lived tradename in each of the Home Appliances and Home Solutions segments, as a result of a downward revision of forecasted cash flows due to softening global demand, as retailers significantly pulled back on orders in an effort to rebalance inventory and rising interest rates. The decline in global demand is driven primarily by inflationary pressures which are impacting the discretionary spending behavior of consumers. The Company also concluded that a triggering event had occurred for two indefinite-lived tradenames in the Learning and Development segment, as a result of rising interest rates and inflationary pressures. The Company performed a quantitative impairment test and determined that the indefinite-lived tradename in the Home Appliances segment and two indefinite-lived tradenames in the Learning and Development segment were impaired. During the third quarter of 2022, the Company recorded an aggregate non-cash impairment charge of $40 million, as the carrying values of these tradenames exceeded their fair values. (2)During the fourth quarter of 2021, in conjunction with its annual impairment testing, the Company recorded non-cash impairment charges of $60 million associated with tradenames in the Commercial Solution and Learning and Development segments, as the carrying values exceeded their fair values, reflecting a downward revision of future expected cash flows, which include the impact of the COVID-19 global pandemic. (3)During the fourth quarter of 2020, in conjunction with its annual impairment testing, the Company recorded a non-cash impairment charge of $20 million associated with a tradename in the Learning and Development segment, as its carrying value exceeded its fair value. The impairment reflected a downward revision of forecasted results due to the impact of the delayed and limited re-opening of schools and offices as a result of the COVID-19 global pandemic, as well as the continued deterioration in sales for slime-related adhesive products. During the first quarter of 2020, as a result of the impairment testing performed in connection with COVID-19 pandemic triggering event, the Company determined that certain of its indefinite-lived intangible assets in all of its operating segments were impaired and recorded non-cash impairment charges of $1.3 billion to reflect the impairment of these indefinite-lived tradenames because their carrying values exceeded their fair values.
Schedule of Other Intangible Assets and Related Amortization Periods | The table below summarizes the balance of other intangible assets, net and the related amortization periods using the straight-line method and attribution method at December 31, 2022 and 2021 (in millions):
| December 31, 2022 |  | December 31, 2021 |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value |  | Amortization Periods (In years)
Tradenames - indefinite life | $ | 1,689 |  |  | $ | — |  |  | $ | 1,689 |  |  | $ | 2,219 |  |  | $ | — |  |  | $ | 2,219 |  |  | N/A
Tradenames - other | 160 |  |  | (79) |  |  | 81 |  |  | 159 |  |  | (65) |  |  | 94 |  |  | 2 - 15
Capitalized software | 602 |  |  | (481) |  |  | 121 |  |  | 631 |  |  | (495) |  |  | 136 |  |  | 3 - 12
Patents and intellectual property | 22 |  |  | (17) |  |  | 5 |  |  | 22 |  |  | (14) |  |  | 8 |  |  | 3 - 14
Customer relationships and distributor channels | 1,072 |  |  | (319) |  |  | 753 |  |  | 1,216 |  |  | (303) |  |  | 913 |  |  | 3 - 30
| $ | 3,545 |  |  | $ | (896) |  |  | $ | 2,649 |  |  | $ | 4,247 |  |  | $ | (877) |  |  | $ | 3,370 |  |  |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | At December 31, 2022, the aggregate estimated intangible amortization amounts for the succeeding five years are as follows (in millions):
Years ending December 31, |  | Amount
2023 |  | $ | 97 |
2024 |  | 89 |
2025 |  | 79 |
2026 |  | 68 |
2027 |  | 59 |
Thereafter |  | 568 |

X
- Definition Schedule Of Indefinite And Finite Lived Intangible Assets + References No definition available. + Details
Name: | nwl_ScheduleOfIndefiniteAndFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | nwl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 55 -Paragraph 24 -URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of impaired intangible assets excluding goodwill. This may include a description of the facts and circumstances leading to the recording of impairment charges of intangible assets in the period, the amount of the impairment charges, the methods of determining fair value of the associated assets, the caption in the income statement in which the impairment losses are aggregated, and the segment in which the impaired intangible assets are reported. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 + Details
Name: | us-gaap_ScheduleOfImpairedIntangibleAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration