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Goodwill and Other Intangible Assets, Net (Tables) | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Goodwill by Reportable Business Segment | Goodwill activity for the nine months ended September 30, 2024 is as follows (in millions):
|  |  |  |  |  |  |  | September 30, 2024
Segments | Net Book Value at December 31, 2023 |  |  |  |  | Foreign Exchange |  | Gross Carrying Amount |  | Accumulated Impairment Charges |  | Net Book Value
Home and Commercial Solutions | $ | 747 |  |  |  |  |  | $ | — |  |  | $ | 4,052 |  |  | $ | (3,305) |  |  | $ | 747 |
Learning and Development | 2,324 |  |  |  |  |  | 3 |  |  | 3,414 |  |  | (1,087) |  |  | 2,327 |
Outdoor and Recreation | — |  |  |  |  |  | — |  |  | 788 |  |  | (788) |  |  | — |
| $ | 3,071 |  |  |  |  |  | $ | 3 |  |  | $ | 8,254 |  |  | $ | (5,180) |  |  | $ | 3,074 |
Schedule of Other Intangible Assets, Net | Other intangible assets, net, are comprised of the following (in millions):
| September 30, 2024 |  | December 31, 2023 |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value |  |
Tradenames — indefinite life (1) | $ | 957 |  |  | $ | — |  |  | $ | 957 |  |  | $ | 1,535 |  |  | $ | — |  |  | $ | 1,535 |  |  |
Tradenames — other (1) | 551 |  |  | (139) |  |  | 412 |  |  | 232 |  |  | (105) |  |  | 127 |  |  |
Capitalized software | 654 |  |  | (538) |  |  | 116 |  |  | 628 |  |  | (512) |  |  | 116 |  |  |
Patents and intellectual property | 22 |  |  | (21) |  |  | 1 |  |  | 22 |  |  | (20) |  |  | 2 |  |  |
Customer relationships and distributor channels | 1,075 |  |  | (406) |  |  | 669 |  |  | 1,078 |  |  | (370) |  |  | 708 |  |  |
| $ | 3,259 |  |  | $ | (1,104) |  |  | $ | 2,155 |  |  | $ | 3,495 |  |  | $ | (1,007) |  |  | $ | 2,488 |  |  |
(1)In alignment with the Company’s strategy, the Company determined that certain tradenames with aggregate carrying values of $322 million no longer met the criteria to be classified as indefinite-lived tradenames effective January 1, 2024. The estimated useful lives range from 10 to 15 years, which will increase the Company’s annual amortization expense by $25 million, approximately $6 million quarterly (approximately $0.01 net loss per share per quarter).

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