Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The changes in net carrying value of Goodwill by segment for the years ended December 31, 2024 and 2023 were as follows:

	2023
	Beginning Balance		Foreign currency translation		Ending Balance
Oral, Personal and Home Care
North America	$	906	$	2	$	908
Latin America	168		11		179
Europe	1,504		67		1,571
Asia Pacific	179		—		179
Africa/Eurasia	107		(19)		88
Total Oral, Personal and Home Care	2,864		61		2,925
Pet Nutrition	488		(3)		485
Total Goodwill	$	3,352	$	58	$	3,410

	2024
	Beginning Balance		Reallocation (1)		Foreign currency translation		Ending Balance
Oral, Personal and Home Care
North America	$	908	$	223	$	(23)	$	1,108
Latin America	179		—		(34)		145
Europe	1,571		(223)		(67)		1,281
Asia Pacific	179		—		(1)		178
Africa/Eurasia	88		—		(10)		78
Total Oral, Personal and Home Care	2,925		—		(135)		2,790
Pet Nutrition	485		—		(3)		482
Total Goodwill	$	3,410	$	—	$	(138)	$	3,272

(1) As a result of a reporting structure realignment, the Company reallocated the goodwill of a certain reporting unit from the Europe segment to the North America segment. Before and after the reallocation of the goodwill, the Company completed an assessment indicating no goodwill impairment was required as a result of this segment reporting structure realignment. Refer to Note 13, Segment Information for additional information.

Other intangible assets as of December 31, 2024 and 2023 were comprised of the following:

	2024						2023
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Trademarks - finite life	$	1,135	$	(545)	$	590	$	1,167	$	(519)	$	648
Other finite life intangible assets	603		(385)		218		624		(363)		261
Indefinite life intangible assets	948		—		948		978		—		978
Total Other intangible assets	$	2,686	$	(930)	$	1,756	$	2,769	$	(882)	$	1,887

The change in the net carrying amounts of Other intangible assets during 2024 was due to foreign currency translation and amortization expense of $75. Annual estimated amortization expense for each of the next five years is expected to be approximately $68. In 2023, the Company re-characterized a certain trademark from an indefinite to a finite life intangible asset based on an assessment of certain macroeconomic conditions, historical performance and demand. The carrying value of this trademark as of December 31, 2024 is $234 and is being amortized over its estimated remaining useful life of 24 years.

As of the date of the annual impairment test of indefinite-lived intangible assets, the fair value of one of the Company’s indefinite-lived trademark intangible assets exceeded its carrying value by less than 20%. The carrying value of this trademark is $293 as of December 31, 2024.

Given the inherent uncertainties of estimating the future cash flows, the impact of interest rates and inflation on macroeconomic conditions, actual results may differ from management's current estimates which could potentially result in impairment charges in future periods.