Goodwill and Other Intangible Assets

3 Months Ended

Nov. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Beginning September 1, 2024, the Company reorganized its internal structure to focus on speed, precision, and solutions, and as a result of the organizational realignment, the Company’s operating segments now consist of three segments – Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce, which are also the Company’s reportable segments. See Note 13 – “Concentration of Risk and Segment Data” to the Condensed Consolidated Financial Statements for additional information.

The Company performs a goodwill impairment analysis on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. As a result of the change in reportable segments, the Company’s reporting units also changed. In connection with the preparation of the Company’s financial statements for the quarter ended November 30, 2024, the Company tested goodwill for impairment immediately before and after the reorganization. As a result of these analyses, the Company determined that goodwill was not impaired before or after the reorganization.

The following table presents the changes in goodwill allocated to the Company’s reportable segments during the three months ended November 30, 2024 (in millions):


	Regulated Industries		Intelligent Infrastructure		Connected Living and Digital Commerce		Total
Balance as of September 1, 2024	$	490	$	69	$	102	$	661
Acquisitions and adjustments	—		15		—		15
Change in foreign currency exchange rates	(5)		—		(1)		(6)

Balance as of November 30, 2024	$	485	$	84	$	101	$	670

The following table is a summary of the Company’s gross goodwill balances and accumulated impairments as of the periods indicated (in millions):


	November 30, 2024				August 31, 2024
	Gross Carrying Amount		Accumulated Impairment		Gross Carrying Amount		Accumulated Impairment
Goodwill	$	1,690	$	1,020	$	1,681	$	1,020