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Goodwill and Other Intangible Assets, Net (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule 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 2024 and 2023 (in millions):

December 31, 2024
Segments:Net Book Value at December 31, 2023Foreign
Currency
Exchange		Net
Book
Value		Gross Carrying AmountAccumulated Impairment Charges
Home and Commercial Solutions$747 $— $747 $4,052 $(3,305)
Learning and Development2,324 (33)2,291 3,378 (1,087)
Outdoor and Recreation— — — 788 (788)
$3,071 $(33)$3,038 $8,218 $(5,180)

December 31, 2023
Segments:Net Book Value at December 31, 2022Impairment ChargesForeign
Currency
Exchange		Net
Book
Value		Gross Carrying AmountAccumulated Impairment Charges
Home and Commercial Solutions$747 $— $— $747 $4,052 $(3,305)
Learning and Development2,551 (241)14 2,324 3,411 (1,087)
Outdoor and Recreation— — — — 788 (788)
$3,298 $(241)$14 $3,071 $8,251 $(5,180)
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, 2024 and 2023 (in millions):

 December 31, 2024December 31, 2023
 Gross Carrying AmountAccumulated AmortizationNet Book
Value		Gross Carrying AmountAccumulated AmortizationNet Book
Value		Amortization
Periods
(In years)
Tradenames - indefinite life (1)
$844 $— $844 $1,535 $— $1,535 N/A
Tradenames - other (1)
531 (135)396 232 (105)127 
2-15
Capitalized software661 (543)118 628 (512)116 
3-12
Patents and intellectual property13 (13)— 22 (20)2 
3-14
Customer relationships and distributor channels1,025 (375)650 1,078 (370)708 
3-30
$3,074 $(1,066)$2,008 $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 increased the Company’s annual amortization expense by approximately $25 million.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
At December 31, 2024, the aggregate estimated intangible amortization amounts for the succeeding five years are as follows (in millions):
Years ending December 31,Amount
2025$122 
2026110 
2027104 
202893 
202987 
Thereafter648 
Schedule of Intangible Asset Impairment Charges Allocated to Reporting Segments
The impairment charges for goodwill and indefinite-lived tradenames were recorded in the Company’s reporting segments as follows for the years ended December 31, (in millions):
 
2024 (1)
2023 (2)
2022 (3)
Home and Commercial Solutions$275 $76 $444 
Learning and Development70 241 30 
Outdoor and Recreation— 22 — 
$345 $339 $474 
(1)During the fourth quarter of 2024, in conjunction with its annual impairment testing, the Company recorded non-cash impairment charge of $85 million associated with one tradename in the H&CS segment, as the carrying value exceeded the fair value. The decline in the fair value of the tradename in the H&CS segment was the result of downward revision of forecasted revenue mainly due to a distribution loss, which the Company was informed of during the fourth quarter of 2024. A hypothetical 10% reduction in the forecasted revenue and residual (excess) cash flows used in the excess earnings method applied in determining the fair value of the tradename would have resulted in an incremental impairment charge on the H&CS segment of $22 million. During the third quarter of 2024, the Company concluded that triggering events had occurred for indefinite-lived tradenames in the H&CS and L&D segments, as a result of downward revisions of forecasted cash flows primarily due to lower volume and profitability expectations. The Company performed quantitative impairment tests and determined that the indefinite-lived tradenames in the H&CS and L&D segments, were impaired. During the third quarter of 2024, the Company recorded non-cash impairment charges of $190 million and $70 million for the indefinite-lived tradenames in the H&CS and in the L&D segments, respectively, as the carrying values exceeded their fair values.
(2)During the fourth quarter of 2023, in conjunction with its annual impairment testing, the Company recorded a non-cash impairment charge of $68 million associated with two tradenames in the H&CS segment, as the carrying values exceeded the fair values. The decline in the fair values of the tradenames in the H&CS segment were due to current market contraction, reflecting a reset of demand levels. During the third quarter of 2023, the Company concluded that a triggering event had occurred for an indefinite-lived tradename in the O&R segment, as a result of a downward revision of forecasted cash flows due to market conditions, as well as rising interest rates. The Company performed a quantitative impairment test and determined that the indefinite-lived tradename in the O&R segment was impaired and recorded a non-cash impairment charge of $22 million for the indefinite-lived tradename in the O&R segment, as the carrying value of the tradename exceeded its fair value. Also, during the third quarter of 2023, the Company concluded that a triggering event had occurred for the goodwill associated with the Baby reporting unit in the L&D segment as a result of a downward revision of forecasted cash flows due to lower volume and profitability expectations, as well as rising interest rates. The Company performed a quantitative impairment test and determined that the Baby reporting unit goodwill was impaired and recorded a non-cash impairment charge of $241 million as the carrying value of the reporting unit exceeded its fair value. During the second quarter of 2023, the Company concluded that a triggering event had occurred for an indefinite-lived tradename in the H&CS segment as a result of a downward revision of forecasted cash flows due to softening global demand, primarily caused by continued inflationary pressure that is impacting discretionary spending behavior of consumers, as well as rising interest rates. The Company performed a quantitative impairment test and determined that the indefinite-lived tradename in the H&CS segment was impaired. During the second quarter of 2023, the Company recorded a non-cash impairment charge of $8 million, as the carrying value of the tradename exceeded its fair value.
(3)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 H&CS segment and one tradename in the L&D segment, as the carrying values exceeded their fair values. The decline in fair values for one tradename in the H&CS segment and the tradename in the L&D 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 H&CS 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 two indefinite-lived tradenames in the H&CS segment, 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 L&D segment, as a result of rising interest rates and inflationary pressures. The Company performed a quantitative impairment test and determined that the indefinite-lived tradenames in the H&CS segment and two indefinite-lived tradenames in the L&D 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.