0000814453-20-000230 | 10-Q | XBRL Viewer

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Cover Page - shares shares in Millions	9 Months Ended
Cover Page - shares shares in Millions	Sep. 30, 2020	Oct. 26, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Entity File Number	1-9608
Entity Registrant Name	NEWELL BRANDS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3514169
Entity Address, Address Line One	6655 Peachtree Dunwoody Road,
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30328
City Area Code	770
Local Phone Number	418-7000
Title of 12(b) Security	Common stock, $1 par value per share
Trading Symbol	NWL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Voluntary Filers	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		424.3
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000814453
Current Fiscal Year End Date	--12-31
Document Transition Report	false

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 2,699	$ 2,569	$ 6,696	$ 7,091
Cost of products sold	1,785	1,722	4,501	4,724
Gross profit	914	847	2,195	2,367
Selling, general and administrative expenses	545	630	1,581	1,811
Restructuring costs, net	4	3	14	22
Impairment of goodwill, intangibles and other assets	2	1,071	1,482	1,148
Operating income (loss)	363	(857)	(882)	(614)
Non-operating expenses:
Interest expense, net	71	75	205	233
Loss on extinguishment of debt	0	29	0	29
Other expense, net	9	7	20	33
Income (loss) before income taxes	283	(968)	(1,107)	(909)
Income tax benefit	(21)	(327)	(210)	(317)
Income (loss) from continuing operations	304	(641)	(897)	(592)
Income (loss) from discontinued operations, net of tax	0	15	0	(95)
Net income (loss)	$ 304	$ (626)	$ (897)	$ (687)
Weighted average common shares outstanding:
Basic (in shares)	424.3	423.4	424.1	423.3
Diluted (in shares)	425.4	423.4	424.1	423.3
Basic:
Income (loss) from continuing operations (in USD per share)	$ 0.72	$ (1.51)	$ (2.12)	$ (1.40)
Income (loss) from discontinued operations (in USD per share)	0	0.03	0	(0.22)
Net income (loss) (in USD per share)	0.72	(1.48)	(2.12)	(1.62)
Diluted:
Income (loss) from continuing operations (in USD per share)	0.71	(1.51)	(2.12)	(1.40)
Income (loss) from discontinued operations (in USD per share)	0	0.03	0	(0.22)
Net income (loss) (in USD per share)	$ 0.71	$ (1.48)	$ (2.12)	$ (1.62)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Comprehensive income (loss):
Net income (loss)	$ 304	$ (626)	$ (897)	$ (687)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	24	(112)	(97)	(89)
Unrecognized pension and postretirement costs	1	(9)	12	(33)
Derivative financial instruments	(7)	5	17	(3)
Total other comprehensive income (loss), net of tax	18	(116)	(68)	(125)
Comprehensive income (loss)	$ 322	$ (742)	$ (965)	$ (812)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 858	$ 349
Accounts receivable, net	1,814	1,842
Inventories	1,718	1,606
Prepaid expenses and other	314	313
Total current assets	4,704	4,110
Property, plant and equipment, net	1,115	1,155
Operating lease assets, net	543	615
Goodwill	3,523	3,709
Other intangible assets, net	3,567	4,916
Deferred income taxes	882	776
Other assets	386	361
Total assets	14,720	15,642
Liabilities:
Accounts payable	1,415	1,102
Accrued compensation	216	204
Other accrued liabilities	1,380	1,340
Short-term debt and current portion of long-term debt	97	332
Total current liabilities	3,108	2,978
Long-term debt	5,794	5,391
Deferred income taxes	463	625
Long-term operating lease liabilities	485	541
Other noncurrent liabilities	1,120	1,111
Total liabilities	10,970	10,646
Commitments and contingencies (Footnote 18)
Stockholders’ equity:
Preferred stock (10.0 authorized shares, $1.00 par value, no shares issued at September 30, 2020 and December 31, 2019)	0	0
Common stock (800.0 authorized shares, $1.00 par value, 448.3 shares and 447.1 shares issued at September 30, 2020 and December 31, 2019)	448	447
Treasury stock, at cost (24.0 shares and 23.6 shares issued at September 30, 2020 and December 31, 2019)	(597)	(590)
Additional paid-in capital	8,164	8,430
Retained deficit	(3,301)	(2,404)
Accumulated other comprehensive loss	(988)	(920)
Stockholders’ equity attributable to parent	3,726	4,963
Stockholders’ equity attributable to noncontrolling interests	24	33
Total stockholders’ equity	3,750	4,996
Total liabilities and stockholders’ equity	$ 14,720	$ 15,642

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, authorized shares (in shares)	10,000,000.0	10,000,000.0
Preferred stock, par value (in USD per share)	$ 1.00	$ 1.00
Preferred stock, issued shares (in shares)	0	0
Common stock, authorized shares (in shares)	800,000,000.0	800,000,000.0
Common stock, par value (in USD per share)	$ 1.00	$ 1.00
Common stock, issued shares (in shares)	448,300,000	447,100,000
Treasury stock, shares (in shares)	24,000,000.0	23,600,000

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss	$ (897)	$ (687)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	267	325
Impairment of goodwill, intangibles and other assets	1,482	1,260
Loss from sale of businesses, net	9	0
Deferred income taxes	(293)	(296)
Stock based compensation expense	28	29
Loss on change in fair value of investments	1	19
Other, net	0	4
Changes in operating accounts excluding the effects of divestitures:
Accounts receivable	(19)	146
Inventories	(139)	(246)
Accounts payable	323	(30)
Accrued liabilities and other	58	(100)
Net cash provided by operating activities	820	424
Cash flows from investing activities:
Proceeds from sale of divested businesses	15	754
Capital expenditures	(158)	(172)
Other investing activities, net	5	(1)
Net cash provided by (used in) investing activities	(138)	581
Cash flows from financing activities:
Net short-term debt	(26)	279
Proceeds from issuance of debt, net of debt issuance costs	492	0
Payments on current portion of long-term debt	(305)	(268)
Payments on long-term debt	(19)	(706)
Loss on extinguishment of debt	0	(31)
Cash dividends	(294)	(293)
Equity compensation activity and other, net	(22)	(5)
Net cash used in financing activities	(174)	(1,024)
Exchange rate effect on cash, cash equivalents and restricted cash	(14)	(11)
Increase (decrease) in cash, cash equivalents and restricted cash	494	(30)
Cash, cash equivalents and restricted cash at beginning of period	371	496
Cash, cash equivalents and restricted cash at end of period	865	466
Supplemental disclosures:
Restricted cash at beginning of period	22	0
Restricted cash at end of period	7	0
Net cash provided by discontinued operating activities	0	15
Net cash provided by discontinued investing activities	0	738
Capital expenditures for discontinued operations	$ 0	$ 15

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)	Stockholders' Equity Attributable to Parent	Noncontrolling Interest
Beginning balance at Dec. 31, 2018	$ 5,253	$ 446	$ (585)	$ 8,781	$ (2,511)	$ (913)	$ 5,218	$ 35
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	(812)				(687)	(125)	(812)
Dividends declared on common stock	(294)			(294)			(294)
Equity compensation, net of tax	26	1	(4)	29			26
Portion of net loss attributable to non-controlling interests	(4)							(4)
Ending balance at Sep. 30, 2019	4,169	447	(589)	8,516	(3,198)	(1,038)	4,138	31
Beginning balance at Jun. 30, 2019	5,004	447	(589)	8,605	(2,572)	(922)	4,969	35
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	(742)				(626)	(116)	(742)
Dividends declared on common stock	(98)			(98)			(98)
Equity compensation, net of tax	9			9			9
Portion of net loss attributable to non-controlling interests	(4)							(4)
Ending balance at Sep. 30, 2019	4,169	447	(589)	8,516	(3,198)	(1,038)	4,138	31
Beginning balance at Dec. 31, 2019	4,996	447	(590)	8,430	(2,404)	(920)	4,963	33
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	(965)				(897)	(68)	(965)
Dividends declared on common stock	(293)			(293)			(293)
Equity compensation, net of tax	21	1	(7)	27			21
Distribution to non-controlling interests holder	(3)							(3)
Other	(6)							(6)
Ending balance at Sep. 30, 2020	3,750	448	(597)	8,164	(3,301)	(988)	3,726	24
Beginning balance at Jun. 30, 2020	3,516	448	(597)	8,252	(3,605)	(1,006)	3,492	24
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	322				304	18	322
Dividends declared on common stock	(98)			(98)			(98)
Equity compensation, net of tax	10			10			10
Ending balance at Sep. 30, 2020	$ 3,750	$ 448	$ (597)	$ 8,164	$ (3,301)	$ (988)	$ 3,726	$ 24

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements of Newell Brands Inc. (collectively with its subsidiaries, the “Company”) have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) and do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements include all adjustments (including normal recurring accruals) considered necessary for a fair statement of the financial position and the results of operations of the Company. These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements, and the footnotes thereto, included in the Company’s most recent Annual Report on Form 10-K. The Condensed Consolidated Balance Sheet at December 31, 2019, has been derived from the audited financial statements as of that date, but it does not include all the information and footnotes required by U.S. GAAP for a complete financial statement. Certain reclassifications have been made in the Company’s financial statements of the prior year to conform to the current year presentation. In connection with the Company’s previous decision to retain the Mapa/Spontex and Quickie businesses, the Company realigned its management reporting structure in the fourth quarter of 2019. Additional changes to the Company's management reporting structure were made by the chief operating decision maker (“CODM”) during the second quarter of 2020 which resulted in a further realignment of its reportable segments. As a result, the Company operates and reports financial information in the following five reportable segments: Appliances and Cookware, Commercial Solutions, Home Solutions, Learning and Development, and Outdoor and Recreation. The Company also provides general corporate services to its segments which will be reported as a non-operating segment, Corporate (see Footnote 17). All prior periods have been reclassified to conform to the current reporting structure. Use of Estimates and Risks & Uncertainty of Coronavirus (COVID-19) Beginning late in the fourth quarter 2019 and into 2020, a novel strain of the coronavirus, or COVID-19, initially resulted in travel disruption and impacted portions of the Company’s and its suppliers’ operations in China. The subsequent spread of COVID-19 developed into a global pandemic, impacting the economies of most countries around the world. The Company’s global operations, similar to those of many large, multi-national corporations, have been adversely impacted by the COVID-19 pandemic. During the first quarter of 2020, the Company concluded that an impairment triggering event had occurred for all of its reporting units as the Company had experienced significant COVID-19 related disruption to its business in three primary areas: supply chain, as certain manufacturing and distribution facilities were temporarily closed in line with government guidelines; the temporary closure of secondary customer retail stores as well, as the Company's Yankee Candle retail stores in North America; and changes in consumer demand patterns to certain focused categories. As a result, the Company performed an impairment test for its goodwill and indefinite-lived intangible assets. In addition, the Company performed a recoverability test for its long-lived assets, which primarily include finite-lived intangible assets, property plant and equipment and right of use lease assets. As a result of the impairment testing performed in connection with the triggering event, the Company determined that certain of its goodwill, indefinite-lived intangible assets, property plant and equipment and right of use operating leases assets were impaired. During the first quarter of 2020, the Company recorded an aggregate non-cash charge of approximately $1.5 billion in connection with these impairments. See Footnotes 6, 7 and 13 for further information. While the negative effects from the COVID-19 global pandemic in the first half of 2020 were material to the Company's operating results, the Company has seen positive sequential momentum and experienced 5% year-over-year net sales growth during the third quarter of 2020. Due to this performance, the Company remains optimistic for improvement in its financial results for the second half of 2020; however, it believes the extent of the impact of the COVID-19 pandemic to its businesses, operating results, cash flows, liquidity and financial condition will be primarily driven by the severity and duration of the pandemic, the pandemic’s impact on the U.S. and global economies and the timing, scope and effectiveness of federal, state and local governmental responses to the pandemic, especially in areas where conditions have recently worsened. Those primary drivers are beyond the Company's knowledge and control, and as a result, at this time it is difficult to predict the cumulative impact, both in terms of severity and duration, COVID-19 will have on its sales, operating results, cash flows, liquidity and financial condition. Furthermore, the impact to the Company's businesses, operating results, cash flows, liquidity and financial condition may be further adversely impacted if COVID-19 global pandemic continues to exist or worsens for a prolonged period of time. The consolidated condensed financial statements are prepared in conformity with U.S. GAAP. Management’s application of U.S. GAAP requires the pervasive use of estimates and assumptions in preparing the unaudited condensed consolidated financial statements. As discussed above, the world is currently experiencing the global COVID-19 pandemic which has required greater use of estimates and assumptions in the preparation of our condensed consolidated financial statements, more specifically, those estimates and assumptions utilized in the Company’s forecasted cash flows that form the basis in developing the fair values utilized in its impairment assessments as well as annual effective tax rate. This has included assumptions as to the duration and severity of the pandemic, timing and amount of demand shifts amongst sales channels, workforce availability, supply chain continuity, and timing as to a return to normalcy. Although we have made our best estimates based upon current information, the effects of the COVID-19 pandemic on our business may result in future changes to management’s estimates and assumptions, especially if the severity of the pandemic worsens or duration lengthens. Actual results could materially differ from the estimates and assumptions developed by management. If so, the Company may be subject to future incremental impairment charges as well as changes to recorded reserves and valuations. Discontinued Operations On December 31, 2019, the Company completed the sale of The United States Playing Card Company and other related subsidiaries (“Playing Cards business") to Cartamundi Inc. and Cartamundi España S.L., which completed its previously announced Accelerated Transformation Plan (“ATP”). In connection with the ATP, the Company completed the sale of several businesses during 2018 and 2019. In 2018, the Company sold Goody Products, Inc. (“Goody”), Jostens, Inc. (“Jostens”), Pure Fishing, Inc. (“Pure Fishing”), the Rawlings Sporting Goods Company, Inc. (“Rawlings”), The Waddington Group, Inc. (“Waddington”) and other related subsidiaries. In 2019, the Company sold the Process Solutions business, Rexair Holdings Inc. (“Rexair”) and the Playing Cards business. These businesses were classified as discontinued operations in periods prior to January 1, 2020. Seasonal Variations Sales of the Company’s products tend to be seasonal, with sales, operating income and operating cash flow in the first quarter generally lower than any other quarter during the year, driven principally by reduced volume and the mix of products sold in the first quarter. The seasonality of the Company’s sales volume combined with the accounting for fixed costs, such as depreciation, amortization, rent, personnel costs and interest expense, impacts the Company’s results on a quarterly basis. In addition, the Company typically tends to generate the majority of its operating cash flow in the third and fourth quarters of the year due to seasonal variations in operating results, the timing of annual performance-based compensation payments, customer program payments, working capital requirements and credit terms provided to customers. Accordingly, the Company’s results of operations for the three and nine months ended September 30, 2020 may not necessarily be indicative of the results that may be expected for the year ending December 31, 2020. Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. In August 2018, the FASB issued ASU 2018-14, “Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans.” ASU 2018-14 modifies disclosure requirements for defined benefit pension and other postretirement plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020. Since ASU 2018-14 only impacts the disclosure requirements related to defined benefit pension and other postretirement plans, the adoption of ASU 2018-14 will not have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes” (Topic 740). ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for years, and interim periods within those years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the potential effects of the adoption of ASU 2019-12. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU 2020-04 provides optional expedients and exceptions to account for contracts, hedging relationships and other transactions that reference LIBOR or another reference rate if certain criteria are met. ASU 2020-04 may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is currently evaluating the potential effects of the adoption of ASU 2020-04. Adoption of New Accounting Guidance The Company’s accounting policies are described in Note 1 of the Notes to Consolidated Financial Statements included in our 2019 Annual Report on Form 10-K. Such significant accounting policies are applicable for periods prior to the adoption of the following new accounting standards and updated accounting policies. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 involves several aspects of the accounting for credit losses related to certain financial instruments including assets measured at amortized cost, available-for-sale debt securities and certain off-balance sheet commitments. ASU 2016-13, and subsequent updates, broadens the information that an entity must consider in developing its estimated credit losses expected to occur over the remaining life of assets measured either collectively or individually to include historical experience, current conditions and reasonable and supportable forecasts, replacing the existing incurred credit loss model and other models with the Current Expected Credit Losses (“CECL”) model. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019. The Company adopted ASU 2016-13 on a modified retrospective basis effective January 1, 2020. The adoption of ASU 2016-03 did not have a material impact on the Company’s consolidated financial statements. The Company's reserves for expected credit losses at September 30, 2020 and December 31, 2019 were $37 million and $29 million respectively. In August 2018, the FASB issued ASU 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” ASU 2018-15 clarifies the accounting treatment for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when the arrangement includes a software license. ASU 2018-15 is effective for public business entities for years, and interim periods within those years, beginning after December 15, 2019. The Company adopted ASU 2018-15 prospectively to all implementation costs incurred after January 1, 2020, the date of adoption. The adoption of ASU 2018-15 did not have a material impact on the Company’s consolidated financial statements. Sales of Accounts Receivables During the first quarter of 2020, the Company amended its existing factoring agreement (the “Customer Receivables Purchase Agreement”) to increase the amount of certain customer receivables that may be sold. The balance of factored receivables at the end of the third quarter of 2020 was approximately $350 million, an increase of approximately $150 million from the balance at December 31, 2019. Transactions under this agreement continue to be accounted for as sales of accounts receivable, and the receivables sold are removed from the Condensed Consolidated Balance Sheet at the time of the sales transaction. The Company classifies the proceeds received from the sales of accounts receivable as an operating cash flow in the unaudited Condensed Consolidated Statement of Cash Flows. The Company records the discount as other expense, net in the Condensed Consolidated Statement of Operations and collections of accounts receivables not yet submitted to the financial institution as a financing cash flow.

Divestitures and Held for Sale

9 Months Ended

Sep. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Divestitures and Held for Sale

Discontinued Operations

The Company completed its previously announced ATP on December 31, 2019. As such, there were no businesses held for sale at September 30, 2020, nor income or loss from discontinued operations for the three and nine months ended September 30, 2020. The following table provides a summary of amounts included in discontinued operations for the 2019 periods indicated (in millions):


	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Net sales	$	29	$	332
Cost of products sold	18		245
Gross profit	11		87
Selling, general and administrative expenses	4		42

Impairment of goodwill, intangibles and other assets	—		112
Operating income (loss)	7		(67)
Non-operating income, net	(2)		(2)
Income (loss) before income taxes	9		(65)
Income tax provision (benefit)	(6)		30
Net income (loss)	$	15	$	(95)

Divestiture Activity

On August 31, 2020, the Company divested the foam board product line in its Learning and Development segment. As a result, during the three and nine months ended September 30, 2020, the Company recorded a pretax loss of $8 million, which is included in the other expense, net in the Condensed Consolidated Statements of Operations.

On May 1, 2019, the Company sold its Rexair business to investment funds affiliated with Rhône Capital for approximately $235 million, subject to customary working capital and other post-closing adjustments. As a result, during the three and nine months ended September 30, 2019, the Company recorded a pretax loss of $4 million and net pretax gain of $2 million, respectively, which is included in the net income (loss) from discontinued operations.

On May 1, 2019, the Company sold its Process Solutions business to an affiliate of One Rock Capital Partners, LLC, for approximately $500 million, subject to customary working capital and other post-closing adjustments. As a result, during the three and nine months ended September 30, 2019, the company recorded a pretax gain of $13 million and net pretax loss of $9 million, respectively, which is included in the net income (loss) from discontinued operations.

On December 31, 2019, the Company sold its Playing Cards business to Cartamundi Inc. and Cartamundi España S.L. for approximately $220 million, subject to customary working capital and other post-closing adjustments.

During the nine months ended September 30, 2019, the Company recorded impairment charges totaling $112 million, which were included in the loss from discontinued operations, related to the write-down of the carrying value of the net assets of certain held for sale businesses based on their estimated fair value.

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Accumulated Other Comprehensive Loss

The following tables display the changes in Accumulated Other Comprehensive Loss (“AOCL”) by component, net of tax, for the nine months ended September 30, 2020 (in millions):


	Cumulative Translation Adjustment		Pension and Postretirement Costs		Derivative Financial Instruments		AOCL
Balance at December 31, 2019	$	(479)	$	(399)	$	(42)	$	(920)
Other comprehensive income (loss) before reclassifications	(97)		(2)		21		(78)
Amounts reclassified to earnings	—		14		(4)		10
Net current period other comprehensive income (loss)	(97)		12		17		(68)
Balance at September 30, 2020	$	(576)	$	(387)	$	(25)	$	(988)

For the three months ended September 30, 2020 and 2019, reclassifications from AOCL to the results of operations for the Company’s pension and postretirement benefit plans were a pretax expense of $6 million and $2 million, respectively. For the nine months ended September 30, 2020 and 2019, reclassifications from AOCL to the results of operations for the Company’s pension and postretirement benefit plans were a pretax expense of $17 million and $6 million, respectively. These reclassifications primarily represent the amortization of net actuarial losses (see Footnote 11). These costs are recorded in other expense, net. For the three months ended September 30, 2020 and 2019, reclassifications from AOCL to the results of operations for the Company’s derivative financial instruments for effective cash flow hedges were pretax income of $6 million and nil, respectively, and pretax income of $5 million for both the nine months ended September 30, 2020 and 2019 (see Footnote 10).

The income tax (expense) benefit allocated to the components of AOCL for the periods indicated are as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Foreign currency translation adjustments	$	12	$	—	$	11	$	—
Unrecognized pension and postretirement costs	(1)		3		(3)		11
Derivative financial instruments	2		(1)		(5)		1
Income tax benefit related to AOCL	$	13	$	2	$	3	$	12

Restructuring Costs

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring Costs

Restructuring provisions were determined based on estimates prepared at the time the restructuring actions were approved by management and are periodically updated for changes. Restructuring amounts also include amounts recognized as incurred.

Restructuring costs, net incurred by reportable business segments for all restructuring activities in continuing operations for the periods indicated are as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Appliances and Cookware	$	1	$	—	$	1	$	2
Commercial Solutions	—		—		2		1
Home Solutions	1		1		6		7
Learning and Development	1		—		2		5
Outdoor and Recreation	1		1		2		2
Corporate	—		1		1		5
	$	4	$	3	$	14	$	22

Accrued restructuring costs activity for the nine months ended September 30, 2020 are as follows (in millions):


	Balance at December 31, 2019		Restructuring Costs, Net		Payments		Balance at September 30, 2020
Employee severance and termination benefits	$	10	$	12	$	(14)	$	8
Exited contractual commitments and other	12		2		(7)		7
	$	22	$	14	$	(21)	$	15

2020 Restructuring Plan

The Company’s 2020 restructuring program, which was initiated during the second quarter of 2020 largely in response to the impact of the COVID-19 pandemic, was designed to reduce overhead costs, streamline certain underperforming operations and improve future profitability. The restructuring costs, which impact all segments, include employee-related costs, including severance and other termination benefits. During the three and nine months ended September 30, 2020, the Company recorded restructuring charges of $4 million and $12 million, respectively, in connection with the program. The Company currently estimates aggregate restructuring charges of approximately $20 million to $25 million to be incurred over the entirety of 2020 and into 2021 in connection with the program. All cash payments are expected to be paid within one year of charges incurred.

Accelerated Transformation Plan

The Company’s ATP, which was initiated during the first quarter of 2018 and completed at the end of 2019, was designed in part, to divest the Company’s non-core consumer businesses and focus on the realignment of the Company’s management structure and overall cost structure as a result of the completed divestitures. Restructuring costs associated with the ATP included employee-related costs, including severance, retirement and other termination benefits, as well as contract termination costs and other costs.

Other Restructuring-Related Costs

The Company regularly incurs other restructuring-related costs in connection with various discrete initiatives which are recorded in cost of products sold and selling, general and administrative expense (“SG&A”) in the Condensed Consolidated Statements of Operations based on the nature of the underlying costs incurred.

Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories are comprised of the following at the dates indicated (in millions):


	September 30, 2020		December 31, 2019
Raw materials and supplies	$	275	$	231
Work-in-process	146		135
Finished products	1,297		1,240
	$	1,718	$	1,606

Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, plant and equipment, net, is comprised of the following at the dates indicated (in millions):


	September 30, 2020		December 31, 2019
Land	$	83	$	86
Buildings and improvements	644		641
Machinery and equipment	2,221		2,151
	2,948		2,878
Less: Accumulated depreciation	(1,833)		(1,723)
	$	1,115	$	1,155

Depreciation expense for continuing operations was $52 million and $99 million for the three months ended September 30, 2020 and 2019, respectively, and $146 million and $180 million for the nine months ended September 30, 2020 and 2019, respectively. Depreciation expense for discontinued operations was nil for the three and nine months ended September 30, 2019, as the Company ceased depreciating property, plant and equipment relating to businesses which satisfied the criteria to be classified as held for sale.

In 2018, as part of the ATP, the Company approved a plan to market for sale the Rubbermaid Commercial Products, Rubbermaid Outdoor, Closet, Refuse, Garage and Cleaning businesses (the “Commercial Business”). This business had been classified as held for sale in the Company's historical Condensed Consolidated Balance Sheets. During the third quarter of 2019, due to a change in strategy, the Company decided not to sell the business. As a result, the business no longer satisfied the requirements to be classified as held for sale in the Company's Condensed Consolidated Balance Sheet as of September 30, 2019. The Company measured the business at the lower of its (i) carrying amount before it was classified as held for sale, adjusted for depreciation and amortization expense that would have been recognized had the business been continuously classified as held and used, or (ii) fair value at the date the decision not to sell was made. The Company recorded a charge of $36 million in the third quarter of 2019 relating to the amount of depreciation expense that would have been recorded in prior periods had the asset been continuously classified as held and used.

During the first quarter of 2020, the Company concluded that a triggering event had occurred for all of its reporting units as a result of the COVID-19 pandemic. Pursuant to the authoritative accounting literature, the Company compared the sum of the undiscounted future cash flows attributable to the asset or group of assets (the lowest level for which identifiable cash flows are available) to their respective carrying amount. As a result of the impairment testing performed in connection with the triggering event, the Company recorded a non-cash fixed asset impairment charge of approximately $1 million during the nine months ended September 30, 2020, in the Home Solutions segment associated with its Yankee Candle retail store business. The impairment charge was calculated by subtracting the estimated fair value of the asset group from its carrying value.

Goodwill and Other Intangible Assets, Net

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

Goodwill activity for the nine months ended September 30, 2020 is as follows (in millions):


					September 30, 2020
Segments	Net Book Value at December 31, 2019		Impairment Charges		Foreign Exchange and Other		Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value
Appliances and Cookware	$	212	$	(212)	$	—	$	744	$	(744)	$	—
Commercial Solutions	747		—		—		1,241		(494)		747
Home Solutions	164		—		—		2,392		(2,228)		164
Learning and Development	2,586		—		26		3,458		(846)		2,612
Outdoor and Recreation	—		—		—		788		(788)		—
	$	3,709	$	(212)	$	26	$	8,623	$	(5,100)	$	3,523

During the third quarter of 2020, the Company divested a product line in its Learning and Development segment and allocated $3 million of reporting unit goodwill to the calculation of loss on disposal of business. This reduction of reporting unit goodwill is included in Foreign Exchange and Other in the table above.

During the first quarter of 2020, the Company concluded that a triggering event had occurred for all of its reporting units as a result of the COVID-19 global pandemic. Pursuant to the authoritative literature, the Company performed an impairment test and determined that the goodwill associated with its Appliances and Cookware reporting unit was fully impaired. During the nine months ended September 30, 2020, the Company recorded an impairment charge of $212 million to reflect the impairment of its goodwill. See Footnote 1 for further information.

During the three and nine months ended September 30, 2019, the Company recorded an impairment charge of $83 million and $157 million, respectively, to reflect a decrease in the carrying values of Mapa/Spontex and Quickie while these businesses were classified as held for sale.

During the third quarter of 2019, in connection with the Company’s state income tax payable/receivable reconciliation process, the Company identified that its state income tax receivable was overstated by $20 million. Upon further analysis, the Company determined the $20 million state income tax receivable was recorded during March 2017 with a corresponding reduction to goodwill. As such, the Company recorded an entry to increase goodwill with a corresponding reduction to its state income tax receivable for $20 million. The Company was required to allocate the goodwill to the Company’s businesses and reporting units to determine whether or not the goodwill should have been included in the carrying value of a disposal group or reporting unit that was previously sold or impaired. Based on its analysis, the Company concluded that the entire $20 million goodwill balance would have been impaired or recognized as a loss on disposal in previously issued financial statements. The Company concluded the effects of such adjustments are not material to the current period or previously issued financial statements. As such, the Company recorded pretax out-of-period impairment charges of $12 million reflected in loss from continuing operations and $8 million ($6 million after tax) loss on sale of divested businesses, included in loss from discontinued operations, net of tax, in the Company’s Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2019.

Other intangible assets, net, are comprised of the following at the dates indicated (in millions):


	September 30, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Amortization Periods (in years)
Trade names — indefinite life	$	2,315	$	—	$	2,315	$	3,560	$	—	$	3,560	N/A
Trade names — other	158		(55)		103		169		(50)		119		2-15
Capitalized software	620		(475)		145		587		(435)		152		3-12
Patents and intellectual property	123		(104)		19		135		(102)		33		3-14
Customer relationships and distributor channels	1,251		(266)		985		1,328		(283)		1,045		3-30
Other	—		—		—		109		(102)		7		3-5
	$	4,467	$	(900)	$	3,567	$	5,888	$	(972)	$	4,916

Amortization expense for intangible assets for continuing operations was $39 million and $52 million for the three months ended September 30, 2020 and 2019, respectively, and $121 million and $145 million for the nine months ended September 30, 2020 and 2019, respectively. Amortization expense for intangible assets for discontinued operations was nil for the three and nine months ended September 30, 2019, as the Company ceased amortizing other finite-lived intangible assets relating to businesses which satisfied the criteria to be classified as held for sale.

In 2018, as part of the ATP, the Company approved a plan to market for sale the Commercial Business. This business had been classified as held for sale in the Company's historical Consolidated Balance Sheets. During the third quarter of 2019, due to a change in strategy, the Company decided not to sell the business. As a result, the business no longer satisfied the requirements to be classified as held for sale in the Company's Consolidated Balance Sheet as of September 30, 2019. The Company measured the business at the lower of its (i) carrying amount before it was classified as held for sale, adjusted for depreciation and amortization expense that would have been recognized had the business been continuously classified as held and used, or (ii) fair value at the date the decision not to sell was made. The Company recorded a charge of $4 million in the third quarter of 2019 relating to the amount of amortization expense that would have been recorded in prior periods had the asset been continuously classified as held and used.

During the third quarter of 2020, the Company concluded that a triggering event had occurred for an indefinite-lived intangible asset in the Learning and Development segment as a result of a product line divestiture. Pursuant to the authoritative literature, the Company performed an impairment test and determined that the indefinite-lived intangible asset was impaired as its carrying value exceeded its fair value. During the three and nine months ended September 30, 2020, the Company recorded a non-cash charge of $2 million to reflect the impairment of this indefinite-lived intangible asset.

As a result of the impairment testing performed in connection with the COVID-19 pandemic triggering event during the first quarter of 2020, the Company determined that certain of its indefinite-lived intangible assets in the Appliances and Cookware, Commercial Solutions, Home Solutions, Learning and Development and Outdoor and Recreation segments were impaired. During the nine months ended September 30, 2020, the Company recorded impairment charges of $1.3 billion to reflect impairment of these indefinite-lived trade names because their carrying values exceeded their fair values.

During the three months ended September 30, 2019, as a result of the Company’s annual other indefinite-lived intangible impairment testing, the Company recorded impairment charges of $976 million to reflect impairment of intangible assets related to certain of the Company’s indefinite-lived trade names.

The impairment charges were allocated to the Company’s reporting segments as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019 (1)		2020		2019 (1)
Impairment of indefinite-lived intangibles assets
Appliances and Cookware	$	—	$	607	$	87	$	607
Commercial Solutions	—		152		320		152
Home Solutions	—		152		290		152
Learning and Development	2		—		80		—
Outdoor and Recreation	—		65		482		65
	$	2	$	976	$	1,259	$	976

(1)In the Appliances and Cookware segment, the impairment charge was recorded within the Appliances and Cookware reporting unit. In the Commercial Solutions segment, impairment charges of $130 million and $22 million were recorded in the Quickie and Mapa/Spontex businesses, respectively. In the Home Solutions segment, impairment charge of $152 million was recorded within the Home Fragrance reporting unit. In the Outdoor and Recreation segment, the impairment charge was recorded within Outdoor and Recreation reporting unit. The carrying value of certain Appliances and Cookware trade names exceeded their fair value primarily due to the announced tariffs on Chinese imports as well as a decline in sales volume due to a loss in market share for certain appliance categories driven by the success of newly launched competitive products. Both of these factors resulted in downward revisions to forecasted results. The carrying value of certain Home Solutions trade names exceeded their fair value primarily within the Home Fragrance reporting unit.

The Company believes the circumstances and global disruption caused by COVID-19 will continue to affect its businesses, operating results, cash flows and financial condition and that the scope and duration of the pandemic is highly uncertain. In addition, some of the other inherent estimates and assumptions used in determining fair value of the reporting units are outside the control of management, including interest rates, cost of capital, tax rates, industry growth, credit ratings, foreign exchange rates, labor inflation and tariffs, including the current trade negotiations with China. Given the uncertainty of these factors, as well as the inherent difficulty in predicting the severity and duration of the COVID-19 global pandemic and associated recovery and the uncertainties regarding the potential financial impact on the Company's business and the overall economy, there can be no assurance that the Company's estimates and assumptions made for purposes of the goodwill and indefinite-lived intangible asset impairment testing performed during the first quarter of 2020 will prove to be accurate predictions of the future.

In addition, as a result of several impairment charges recorded over the past three years and most recently at September 30, 2020, some of the Company's reporting units and several of the Company's indefinite-lived tradenames were either recorded at fair value or with fair values within 10% of the associated carrying values. While the Company believes it has made reasonable estimates and assumptions to calculate the fair values of the reporting units and other indefinite-lived intangible assets which were based on facts and circumstances known at this time, it is possible that new events may occur or actual events may result in forecasted cash flows, revenue and earnings that differ from those that formed the basis of the Company’s estimates and assumptions. For each of the Company’s reporting units, particularly if the global pandemic caused by COVID-19 continues to persist for an extended period of time, the reporting unit’s actual results could be materially different from the Company’s estimates and assumptions used to calculate fair value. If so, the Company may be required to recognize material impairments to goodwill and/or indefinite-lived intangible assets. The Company will continue to monitor its reporting units for any triggering events or other signs of impairment. The Company may be required to perform additional impairment testing based on further deterioration of the global economic environment, continued disruptions to the Company’s business, further declines in operating results of the Company’s reporting units and/or tradenames, further sustained deterioration of the Company’s market capitalization, and other factors, which could result in impairment charges in the future. Although management cannot predict when changes in macroeconomic conditions will occur, if consumer confidence and consumer spending decline significantly in the future or if commercial and industrial economic activity experiences a sustained deterioration from current levels, it is reasonably likely the Company will be required to record impairment charges in the future.

At March 31, 2020, there were no reporting units and nine indefinite-lived trade names with fair values within 10% of the associated carrying values. A hypothetical 10% reduction in forecasted earnings before interest, taxes and amortization used in the discounted cash flows to estimate the fair value of the reporting unit would not have resulted in an incremental goodwill impairment charge. A hypothetical 10% reduction in the forecasted debt-free cash flows used in the excess earnings method to determine the fair value of certain indefinite-lived intangibles in the Company’s Home Solutions and Learning and Development

segments would have resulted in incremental impairment charges of $39 million and $13 million, respectively. A hypothetical 10% reduction in forecasted revenue used in the relief from royalty method to determine the fair value of certain indefinite-lived intangibles would have resulted in incremental impairment charges in the Company's following segments: Appliances and Cookware, Home Solutions and Learning and Development of $6 million, $6 million and $16 million, respectively. As a result of updating the sensitivity analysis completed at March 31, 2020 for the $2 million impairment recorded during the three months ended September 30, 2020, a hypothetical 10% reduction in forecasted revenue used in the relief from royalty method to determine the fair value of the indefinite-lived intangible asset within the Learning and Development segment would have resulted in an incremental impairment charge of $15 million at September 30, 2020.

Other Accrued Liabilities

9 Months Ended

Sep. 30, 2020

Other Liabilities Disclosure [Abstract]

Other Accrued Liabilities

Other accrued liabilities are comprised of the following at the dates indicated (in millions):


	September 30, 2020		December 31, 2019
Customer accruals	$	649	$	605
Accrued interest expense	133		63
Operating lease liabilities	131		132
Accrued self-insurance liabilities, contingencies and warranty	110		124
Accrued income taxes	82		114
Accruals for manufacturing, marketing and freight expenses	55		50
Other	220		252
	$	1,380	$	1,340

Debt

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Debt

Debt is comprised of the following at the dates indicated (in millions):


	September 30, 2020		December 31, 2019
4.70% senior notes due 2020	$	—	$	305
3.15% senior notes due 2021	94		94
3.75% senior notes due 2021	355		342
4.00% senior notes due 2022	250		249
3.85% senior notes due 2023	1,389		1,388
4.00% senior notes due 2024	200		199
4.875% senior notes due 2025	492		—
3.90% senior notes due 2025	47		47
4.20% senior notes due 2026	1,973		1,986

5.375% senior notes due 2036	416		416
5.50% senior notes due 2046	657		657
Commercial paper	—		25

Other debt	18		15
Total debt	5,891		5,723
Short-term debt and current portion of long-term debt	(97)		(332)
Long-term debt	$	5,794	$	5,391

Credit Revolver and Commercial Paper

On November 1, 2019, S&P Global Inc. ("S&P") downgraded the Company’s debt rating to “BB+” as S&P believed the Company would fail to meet S&P’s target debt level for 2019. In addition, on March 9, 2020, Moody’s Corporation ("Moody’s") downgraded the Company’s debt rating to “Ba1” based on a view that the Company would fail to meet Moody's target debt level for 2020. Subsequently on April 15, 2020, Fitch Ratings ("Fitch") downgraded the Company’s debt rating to "BB" as they believed the Company would fail to meet Fitch's target debt level for 2020. As a result of the S&P and Moody's downgrades, the Company’s ability to borrow from the commercial paper market on terms it deems acceptable or favorable was eliminated.

Previously, the Company was able to issue commercial paper up to a maximum of $800 million provided there was a sufficient amount available for borrowing under the Company’s $1.25 billion revolving credit facility that matures in December 2023 (“the Credit Revolver”). The Company’s ability to borrow under the Credit Revolver was not affected by the downgrades. The interest rate for borrowings under the Credit Revolver is the borrowing period referenced LIBOR rate plus 127.5 basis points. At September 30, 2020, the Company did not have any amounts outstanding under the Credit Revolver.

Senior Notes

In May 2020, the Company completed a registered public offering of $500 million in aggregate principal amount of 4.875% senior notes that mature in June 2025 (the “June 2025 Notes”) and received proceeds of approximately $492 million, net of fees and expenses paid. The June 2025 Notes are subject to similar restrictive and financial covenants as the Company’s existing senior notes, however, they are not subject to the interest rate adjustment or coupon step up provisions of certain other notes described below. The June 2025 Notes are redeemable in whole or in part, at the option of the Company (1) at any time prior to one month before the stated maturity at a redemption price equal to the greater of (a) 100% of the principal amount or (b) the discounted present value of principal and interest at the Treasury Rate plus 50 basis points, plus accrued interest to but excluding the redemption date; or (2) at any time on or after one month prior to the stated maturity at a price equal to 100% of the principal amount being redeemed, plus accrued interest to but excluding the redemption date. The Company used the net proceeds from the June 2025 Notes for general corporate purposes, including repayment of outstanding borrowings under the Credit Revolver and accounts receivable securitization facility, and the redemption of the outstanding 4.70% Senior Notes due in August 2020 at maturity.

In March 2020, the Company repurchased $15 million of the 4.20% senior notes due 2026 at approximately par value. The total consideration, excluding accrued interest, was approximately $15 million. As a result of the partial debt extinguishment, the Company recorded an immaterial loss.

As a result of the aforementioned debt rating downgrades of Moody's and S&P, certain of the Company’s outstanding senior notes aggregating to approximately $4.5 billion are subject to an interest rate adjustment of 25 basis points as a result of each downgrade, for a total of 50 basis points. This increase to the interest rates of each series of the Company's senior notes subject to adjustment is expected to increase the Company’s interest expense for 2020 by approximately $17 million and approximately $23 million thereafter, on an annualized basis. The Fitch downgrade did not impact the interest rates on any of the Company's senior notes.

Receivables Facility

The Company maintains an Accounts Receivable Securitization Facility (the “Securitization Facility”). The aggregate commitment under the Securitization Facility is $600 million. The Securitization Facility matures in October 2022 and bears interest at a margin over a variable interest rate. The maximum availability under the Securitization Facility fluctuates based on eligible accounts receivable balances. In March 2020, the Company amended its Securitization Facility with respect to certain customer receivables and to remove an originator from the Securitization Facility. At September 30, 2020, the Company did not have any amounts outstanding under the Securitization Facility.

Other

The fair value of the Company’s senior notes are based upon prices of similar instruments in the marketplace and are as follows (in millions):


	September 30, 2020				December 31, 2019
	Fair Value		Book Value		Fair Value		Book Value
Senior notes	$	6,329	$	5,873	$	5,990	$	5,683

The carrying amounts of all other significant debt approximates fair value.

Net Investment Hedge

The Company has designated the €300 million principal balance of the 3.75% senior notes due October 2021 as a net investment hedge of the foreign currency exposure of its net investment in certain Euro-functional currency subsidiaries with Euro-denominated net assets. At September 30, 2020, $11 million of deferred losses have been recorded in AOCL. See Footnote 10 for disclosures regarding the Company’s derivative financial instruments.

Derivatives

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

From time to time, the Company enters into derivative transactions to hedge its exposures to interest rate, foreign currency rate and commodity price fluctuations. The Company does not enter into derivative transactions for trading purposes.

Interest Rate Contracts

The Company manages its fixed and floating rate debt mix using interest rate swaps. The Company may use fixed and floating rate swaps to alter its exposure to the impact of changing interest rates on its consolidated results of operations and future cash outflows for interest. Floating rate swaps would be used, depending on market conditions, to convert the fixed rates of long-term debt into short-term variable rates. Fixed rate swaps would be used to reduce the Company’s risk of the possibility of increased interest costs. Interest rate swap contracts are therefore used by the Company to separate interest rate risk from the debt funding decision. The cash paid and received from the settlement of interest rate swaps is included in interest expense.

Fair Value Hedges

At September 30, 2020, the Company had approximately $100 million notional of interest rate swaps that exchange a fixed rate of interest for variable rate (LIBOR) of interest plus a weighted average spread. These floating rate swaps are designated as fair value hedges against $100 million of principal on the 4.0% senior notes due 2024 for the remaining life of the note. The effective portion of the fair value gains or losses on these swaps is offset by fair value adjustments in the underlying debt. On August 15, 2020, a $277 million notional interest rate swap matured concurrently with the maturity of the 4.7% senior notes which were repaid during the quarter.

Cross-Currency Contracts

The Company uses cross-currency swaps to hedge foreign currency risk on certain financing arrangements. During the first quarter of 2020, the Company entered into two cross-currency swaps with an aggregate notional amount of $900 million, which were designated as net investment hedges of the Company's foreign currency exposure of its net investment in certain Euro-functional currency subsidiaries with Euro-denominated net assets. These cross-currency swaps, which mature in January and February 2025, pay a fixed rate of Euro-based interest and receive a fixed rate of U.S. dollar interest. The Company has elected the spot method for assessing the effectiveness of these contracts. During the three and nine months ended September 30, 2020, the Company recognized income of $3 million and $10 million in interest expense, net, related to the portion of cross-currency swaps excluded from hedge effectiveness testing. The Company had no cross-currency swaps used as hedging instruments in 2019.

Foreign Currency Contracts

The Company uses forward foreign currency contracts to mitigate the foreign currency exchange rate exposure on the cash flows related to forecasted inventory purchases and sales and have maturity dates through June 2021. The derivatives used to hedge these forecasted transactions that meet the criteria for hedge accounting are accounted for as cash flow hedges. The effective portion of the gains or losses on these derivatives is deferred as a component of AOCL and is recognized in earnings at the same time that the hedged item affects earnings and is included in the same caption in the statements of operations as the underlying hedged item. At September 30, 2020, the Company had approximately $289 million notional amount outstanding of forward foreign currency contracts that are designated as cash flow hedges of forecasted inventory purchases and sales.

The Company also uses foreign currency contracts, primarily forward foreign currency contracts, to mitigate the foreign currency exposure of certain other foreign currency transactions. At September 30, 2020, the Company had approximately $842 million notional amount outstanding of these foreign currency contracts that are not designated as effective hedges for accounting purposes and have maturity dates through July 2021. Fair market value gains or losses are included in the results of operations and are classified in other (income) expense, net.

The following table presents the fair value of derivative financial instruments at the dates indicated (in millions):


	September 30, 2020				December 31, 2019
	Fair Value of Derivatives				Fair Value of Derivatives
	Asset (a)		Liability (a)		Asset (a)		Liability (a)
Derivatives designated as effective hedges:
Cash flow hedges:
Foreign currency contracts	$	5	$	2	$	1	$	13

Fair value hedges:
Interest rate swaps	7		—		2		1
Net investment hedges:
Cross-currency swaps	—		43		—		—
Derivatives not designated as effective hedges:
Foreign currency contracts	12		3		10		4

Total	$	24	$	48	$	13	$	18

(a) Consolidated balance sheet location:
Asset: Prepaid expenses and other, and other noncurrent assets
Liability: Other accrued liabilities, and current and noncurrent liabilities

The following tables present gain and loss activity (on a pretax basis) for the three months ended September 30, 2020 and 2019 related to derivative financial instruments designated or previously designated, as effective hedges (in millions):


		Three Months Ended September 30, 2020				Three Months Ended September 30, 2019
		Gain/(Loss)				Gain/(Loss)
	Location of gain/(loss) recognized in income	Recognized in OCI (effective portion)		Reclassified from AOCL to Income		Recognized in OCI (effective portion)		Reclassified from AOCL to Income
Interest rate swaps	Interest expense, net	$	—	$	(2)	$	—	$	(4)
Foreign currency contracts	Net sales and cost of products sold	(3)		8		6		4
Commodity contracts	Cost of products sold	—		—		—		—
Cross-currency swaps	Other expense, net	(47)		—		—		—
Total		$	(50)	$	6	$	6	$	—

		Nine Months Ended September 30, 2020				Nine Months Ended September 30, 2019
		Gain/(Loss)				Gain/(Loss)
	Location of gain/(loss) recognized in income	Recognized in OCI (effective portion)		Reclassified from AOCL to Income		Recognized in OCI (effective portion)		Reclassified from AOCL to Income
Interest rate swaps	Interest expense, net	$	—	$	(5)	$	—	$	(7)
Foreign currency contracts	Net sales and cost of products sold	27		10		1		12
Commodity contracts	Cost of products sold	—		—		—		—
Cross-currency swaps	Other expense, net	(43)		—		—		—
Total		$	(16)	$	5	$	1	$	5

At September 30, 2020, deferred net gains of approximately $6 million within AOCL are expected to be reclassified to earnings over the next twelve months.

During the three and nine months ended September 30, 2020, the Company recognized expense of $3 million and income of $6 million, respectively, in other expense, net, related to derivatives that are not designated as hedging instruments. During the three

and nine months ended September 30, 2019, the Company recognized expense of $2 million and $12 million, respectively, in other expense, net, related to derivatives that are not designated as hedging instruments. Gains and losses on these derivatives are mostly offset by foreign currency movement in the underlying exposure.

Employee Benefit and Retirement Plans

9 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Employee Benefit and Retirement Plans

The components of pension and postretirement benefit expense for continuing operations for the periods indicated, are as follows (in millions):


	Pension Benefits
	Three Months Ended September 30,
	U.S.				International
	2020		2019		2020		2019
Service cost	$	—	$	—	$	1	$	2
Interest cost	10		12		2		3
Expected return on plan assets	(16)		(14)		(2)		(4)
Amortization, net	6		4		1		1

Total expense	$	—	$	2	$	2	$	2


	Pension Benefits
	Nine Months Ended September 30,
	U.S.				International
	2020		2019		2020		2019
Service cost	$	—	$	—	$	3	$	5
Interest cost	28		37		7		9
Expected return on plan assets	(46)		(44)		(5)		(10)
Amortization, net	18		12		2		2
Settlements	1		—		—		—
Total expense	$	1	$	5	$	7	$	6


	Postretirement Benefits
	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019

Interest cost	$	—	$	—	$	1	$	1
Amortization, net	(1)		(2)		(4)		(7)
Total income	$	(1)	$	(2)	$	(3)	$	(6)

The components of net periodic pension and postretirement costs other than the service cost component are included in other (income) expense, net in the Condensed Consolidated Statements of Operations.

Retiree Annuity Buyout

On October 22, 2020, the Company entered into an agreement with an insurance company to purchase a group annuity contract to settle approximately $155 million to $160 million of projected benefit obligations for approximately 45% of the retirees in one of its U.S. defined benefit pension plans. The irrevocable transaction for the transfer of pension liability to the insurance company will be funded with the plan’s existing assets. Payments from the insurance company to the beneficiaries will commence on

January 1, 2021. During the fourth quarter 2020, the Company will record a pre-tax settlement loss in connection with this transaction to reclassify approximately $45 million to $50 million into earnings from Accumulated Other Comprehensive Losses.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rate for the three months ended September 30, 2020 and 2019 was (7.4)% and 33.8%, respectively. The Company’s effective income tax rate for the nine months ended September 30, 2020 and 2019 was 19.0% and 34.9%, respectively. The Company’s effective income tax rate fluctuates based on, among other factors, the geographic mix of income. The difference between the U.S. federal statutory income tax rate of 21.0% and the Company’s effective income tax rate for the nine months ended September 30, 2020 and 2019 was impacted by a variety of factors, primarily resulting from the geographic mix of where the income was earned as well as certain taxable income inclusion items in the U.S. based on foreign earnings. The three and nine months ended September 30, 2020 were also impacted by certain discrete tax items. Income tax expense for three months ended September 30, 2020 included a discrete tax benefit of $87 million associated with the execution of certain tax planning strategies and $53 million for a reduction in valuation allowance related to the integration of certain U.S. operations, partially offset by $47 million deferred tax effects associated with certain outside basis differences. Income tax expense for the nine months ended September 30, 2020 also included a discrete tax benefit of $15 million related to statute of limitations expirations, $8 million of prior period adjustments identified during the first quarter of 2020, and $23 million associated with the execution of certain tax planning strategies offset by tax expense of $27 million related to a change in the tax status of certain entities upon Internal Revenue Service approval during the first quarter, $8 million of excess book deductions related to equity-based compensation, $8 million for additional interest related to uncertain tax positions, and $5 million for effects of adopting the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The Company concluded the effects of such prior period adjustments were not material to the current period or previously issued financial statements. The three and nine months ended September 30, 2019 were also impacted by certain discrete tax items. The three months ended September 30, 2019 included tax benefits of $246 million related to the impairment of certain intangible assets of the Company, $74 million for the expiration of uncertain tax positions and $32 million related to certain Federal return to provision adjustments. In addition, the nine months ended September 30, 2019 included discrete tax benefits of $13 million for a withholding tax refund received from Switzerland by the Company, $10 million for certain state tax return to provision adjustments and $14 million related to change in tax status of certain entities in various non-U.S. jurisdictions, offset by discrete tax expense of $15 million for excess book deductions for equity-based compensation and $13 million for additional interest related to the Company’s uncertain tax liabilities. On June 18, 2019, the U.S. Treasury and the Internal Revenue Service (“IRS”) released temporary regulations under IRC Section 245A (“Section 245A”) as enacted by the 2017 U.S. Tax Reform Legislation (“2017 Tax Reform”) and IRC Section 954(c)(6) (the “Temporary Regulations”) to apply retroactively to the date the 2017 Tax Reform was enacted. On August 21, 2020, the U.S. Treasury and IRS released finalized versions of the Temporary Regulations (collectively with the Temporary Regulations, the “Regulations”). The Regulations seek to limit the 100% dividends received deduction permitted by Section 245A for certain dividends received from controlled foreign corporations and to limit the applicability of the look-through exception to foreign personal holding company income for certain dividends received from controlled foreign corporations. Before the retroactive application of the Regulations, the Company benefited in 2018 from both the 100% dividends received deduction and the look-through exception to foreign personal holding company income. The Company analyzed the Regulations and concluded the relevant Regulations were not validly issued. Therefore, the Company has not accounted for the effects of the Regulations in its Condensed Consolidated Financial Statements for the period ending September 30, 2020. The Company believes it has strong arguments in favor of its position and believes it has met the more likely than not recognition threshold that its position will be sustained. However, due to the inherent uncertainty involved in challenging the validity of regulations as well as a potential litigation process, there can be no assurances that the relevant Regulations will be invalidated or that a court of law will rule in favor of the Company. If the Company’s position on the Regulations is not sustained, the Company would be required to recognize an income tax expense of approximately $180 million to $220 million related to an income tax benefit from fiscal year 2018 that was recorded based on regulations in existence at the time. In addition, the Company may be required to pay any applicable interest and penalties. The Company intends to vigorously defend its position.

Leases

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Leases

Supplemental Condensed Consolidated Balance Sheet information related to leases for the periods indicated, are as follows (in millions):


	Classification	September 30, 2020		December 31, 2019
Assets
Operating leases	Operating lease assets, net (1)	$	543	$	615
Finance leases	Property, plant and equipment, net (2)	11		15
Total lease assets		$	554	$	630
Liabilities
Current
Operating leases	Other accrued liabilities	$	131	$	132
Finance leases	Short-term debt and current portion of long-term debt	3		3
Noncurrent
Operating leases	Long-term operating lease liabilities	485		541
Finance leases	Long-term debt	6		10
Total lease liabilities		$	625	$	686

(1) During the first quarter of 2020, the Company concluded that a triggering event had occurred for all of its reporting units as a result of overall macroeconomic conditions and developments in the equity and credit markets primarily driven by the COVID-19 pandemic. Pursuant to the authoritative accounting literature, the Company compared the sum of the undiscounted future cash flows attributable to the asset or group of assets at the lowest level for which identifiable cash flows are available to their respective carrying amount. As a result of the impairment testing performed in connection with the triggering event, the Company recorded a non-cash impairment charge of $3 million during the three months ended March 31, 2020 in the Home Solutions segment related to the operating leases of its Yankee Candle retail store business. In addition, the Company recorded an impairment charge of $2 million in the Corporate segment to reflect a reduction in the carrying values of certain operating lease assets during the first quarter of 2020. The impairment charges were calculated by subtracting the estimated fair value of the asset group from its carrying value.

During the second quarter of 2020, the Company also concluded that a triggering event had occurred for its Home Fragrance right of use assets as a result of further deterioration of the business' financial performance, primarily driven by the COVID-19 pandemic. Pursuant to the authoritative accounting literature, the Company compared the sum of the undiscounted future cash flows attributable to the asset or group of assets at the lowest level for which identifiable cash flows are available to their respective carrying amount. As a result of the impairment testing performed in connection with the triggering event, the Company recorded a non-cash impairment charge of $5 million during the three months ended June 30, 2020 in the Home Solutions segment related to the operating leases of its Yankee Candle retail store business. The impairment charge was calculated by subtracting the estimated fair value of the asset group from its carrying value.

(2) Net of accumulated depreciation of $11 million and $8 million at September 30, 2020 and December 31, 2019.

Components of lease expense as of the date indicated, are as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Operating lease cost:
Operating lease cost (1)	$	45	$	49	$	137	$	156
Variable lease costs (2)	6		6		17		19
Finance lease cost:
Amortization of leased assets	1		1		3		3

(1)Includes short-term leases, which are immaterial.

(2)Consists primarily of additional payments for non-lease components, such as maintenance costs, payments of taxes and additional rent based on a level of the Company’s retail store sales.

Remaining lease term and discount rates as of the date indicated, are as follows:


			September 30, 2020
Weighted average remaining lease term (years):
Operating leases			6
Finance leases			3
Weighted average discount rate:
Operating leases			4.3%
Finance leases			3.4%

Supplemental cash flow information related to leases for the periods indicated are as follows (in millions):


	Nine Months Ended September 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	133	$	153
Operating cash flows from finance leases	—		1
Financing cash flows from finance leases	3		3
Right of use assets obtained in exchange for lease liabilities:
Operating leases	53		124
Finance leases	—		7

Maturities of lease liabilities for continuing operations at September 30, 2020, are as follows (in millions):


	Operating Leases		Finance Leases
2020 (Excludes nine months ended September 30, 2020)	$	42	$	1
2021	152		4
2022	130		3
2023	97		1
2024	76		—
Thereafter	220		—
Total lease payments	717		9
Less: imputed interest	(101)		—
Present value of lease liabilities	$	616	$	9

Leases

Supplemental Condensed Consolidated Balance Sheet information related to leases for the periods indicated, are as follows (in millions):


	Classification	September 30, 2020		December 31, 2019
Assets
Operating leases	Operating lease assets, net (1)	$	543	$	615
Finance leases	Property, plant and equipment, net (2)	11		15
Total lease assets		$	554	$	630
Liabilities
Current
Operating leases	Other accrued liabilities	$	131	$	132
Finance leases	Short-term debt and current portion of long-term debt	3		3
Noncurrent
Operating leases	Long-term operating lease liabilities	485		541
Finance leases	Long-term debt	6		10
Total lease liabilities		$	625	$	686

(2) Net of accumulated depreciation of $11 million and $8 million at September 30, 2020 and December 31, 2019.

Components of lease expense as of the date indicated, are as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Operating lease cost:
Operating lease cost (1)	$	45	$	49	$	137	$	156
Variable lease costs (2)	6		6		17		19
Finance lease cost:
Amortization of leased assets	1		1		3		3

(1)Includes short-term leases, which are immaterial.

(2)Consists primarily of additional payments for non-lease components, such as maintenance costs, payments of taxes and additional rent based on a level of the Company’s retail store sales.

Remaining lease term and discount rates as of the date indicated, are as follows:


			September 30, 2020
Weighted average remaining lease term (years):
Operating leases			6
Finance leases			3
Weighted average discount rate:
Operating leases			4.3%
Finance leases			3.4%

Supplemental cash flow information related to leases for the periods indicated are as follows (in millions):


	Nine Months Ended September 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	133	$	153
Operating cash flows from finance leases	—		1
Financing cash flows from finance leases	3		3
Right of use assets obtained in exchange for lease liabilities:
Operating leases	53		124
Finance leases	—		7

Maturities of lease liabilities for continuing operations at September 30, 2020, are as follows (in millions):


	Operating Leases		Finance Leases
2020 (Excludes nine months ended September 30, 2020)	$	42	$	1
2021	152		4
2022	130		3
2023	97		1
2024	76		—
Thereafter	220		—
Total lease payments	717		9
Less: imputed interest	(101)		—
Present value of lease liabilities	$	616	$	9

Earnings Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

The computations of the weighted average shares outstanding for the periods indicated are as follows (in millions):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Weighted average shares outstanding	424.3	423.4	424.1	423.2
Share-based payment awards classified as participating securities (1)	—	—	—	0.1
Basic weighted average shares outstanding	424.3	423.4	424.1	423.3
Dilutive securities (2) (3)	1.1	—	—	—
Diluted weighted average shares outstanding	425.4	423.4	424.1	423.3

(1)For the three months ended September 30, 2020 and 2019, dividends and equivalents for share-based awards that are expected to be forfeited do not have a material effect on net income for basic and diluted earnings per share.

(2)The nine months ended September 30, 2020 excludes 0.9 million of potentially dilutive share-based awards as their effect would be anti-dilutive.

(3)The three and nine months ended September 30, 2019 excludes 0.4 million of potentially dilutive share-based awards as their effect would be anti-dilutive.

At September 30, 2020, there were no potentially dilutive restricted stock awards with performance-based vesting targets that were not met and as such, have been excluded from the computation of diluted earnings per share.

Share-Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

During the nine months ended September 30, 2020, the Company awarded 1.3 million performance-based restricted stock units (RSUs), which had an aggregate grant date fair value of $29 million and entitle the recipients to shares of the Company’s common stock primarily at the end of a three-year vesting period. The actual number of shares that will ultimately vest is dependent on the level of achievement of the specified performance conditions.

During the nine months ended September 30, 2020, the Company also awarded 0.7 million time-based RSUs with an aggregate grant date fair value of $13 million. These time-based RSUs entitle recipients to shares of the Company’s common stock and primarily vest in equal installments over a three-year period.

During the nine months ended September 30, 2020, the Company also awarded 1.1 million time-based stock options with an aggregate grant date fair value of $6 million. These stock options entitle recipients to purchase shares of the Company’s common stock at an exercise price equal to the fair market value of the underlying shares as of the grant date and primarily vest in equal installments over a three-year period.

The weighted average assumptions used to determine the fair value of stock options granted for the nine months ended September 30, 2020, is as follows:


Risk-free interest rates	1.4		%
Expected volatility	41.3		%
Expected dividend yield	3.9		%
Expected life (in years)	6.2
Exercise price	$	19.67

Dividends per share for both the three and nine months ended September 30, 2020 and 2019 were $0.23 and $0.69, respectively.

Fair Value Disclosures

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Recurring Fair Value Measurements

The following table presents the Company’s non-pension financial assets and liabilities which are measured at fair value on a recurring basis (in millions):


	September 30, 2020								December 31, 2019
	Fair value Asset (Liability)								Fair value Asset (Liability)
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Derivatives:
Assets	$	—	$	24	$	—	$	24	$	—	$	13	$	—	$	13
Liabilities	—		(48)		—		(48)		—		(18)		—		(18)
Investment securities, including mutual funds	8		—		—		8		10		1		—		11

For publicly traded investment securities, including mutual funds, fair value is determined on the basis of quoted market prices and, accordingly, such investments are classified as Level 1. Other investment securities are primarily comprised of money market accounts that are classified as Level 2. The Company determines the fair value of its derivative instruments using standard pricing models and market-based assumptions for all significant inputs, such as yield curves and quoted spot and forward exchange rates. Accordingly, the Company’s derivative instruments are classified as Level 2.

During the first quarter of 2019, the Company acquired an equity investment for $18 million, which is traded on an active exchange and therefore has a readily determinable fair value. At September 30, 2020, the fair value of the equity investment was $8 million. For equity investments with readily determinable fair values held at September 30, 2020, the Company recorded a nominal and $1 million of unrealized losses within other expense, net in the Condensed Consolidated Statement of Operations for

the three months period ended September 30, 2020 and 2019, respectively, and $1 million and $7 million of unrealized losses for the nine months period September 30, 2020 and 2019, respectively.

Financial Instruments

The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable, derivative instruments, notes payable and short and long-term debt. The carrying values for current financial assets and liabilities, including cash and cash equivalents, accounts receivable, accounts payable and short-term debt approximate fair value due to the short maturity of such instruments. The fair values of the Company’s debt and derivative instruments are disclosed in Footnote 9 and Footnote 10, respectively.

Nonrecurring Fair Value Measurements

The Company’s nonfinancial assets, which are measured at fair value on a nonrecurring basis, include property, plant and equipment, goodwill, intangible assets and certain other assets.

The Company’s goodwill and indefinite-lived intangibles are fair valued using discounted cash flows. Goodwill impairment testing requires significant use of judgment and assumptions including the identification of reporting units; the assignment of assets and liabilities to reporting units; and the estimation of future cash flows, business growth rates, terminal values and discount rates. The testing of indefinite-lived intangibles under established guidelines for impairment also requires significant use of judgment and assumptions, such as the estimation of cash flow projections, terminal values, royalty rates, contributory cross charges, where applicable, and discount rates. Accordingly, these fair value measurements fall in Level 3 of the fair value hierarchy. These assets and certain liabilities are measured at fair value on a nonrecurring basis as part of the Company’s annual impairment testing and as circumstances require.

The following table summarizes the assets that are measured at Level 3 fair value on a non-recurring basis at the dates indicated:


	March 31, 2020		December 31, 2019

Indefinite-lived intangible assets	$	796	$	1,365

At March 31, 2020, certain intangible assets are recorded at fair value based upon the Company's impairment testing as circumstances require, while an intangible asset was recorded at fair value at September 30, 2020 (See Footnote 7).

The Company reviews property, plant and equipment and operating lease assets for impairment whenever events or circumstances indicate that carrying amounts may not be recoverable through future undiscounted cash flows. If the Company concludes that impairment exists, the carrying amount is reduced to fair value. See Footnotes 6 and 13, respectively, for further information.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

During the first quarter of 2020, the Company appointed separate Chief Executive Officers for its Food and Commercial business units, each reporting directly to the CODM. The Company determined these appointments required a reassessment of its operating and reportable segments. As a result of its assessment, the Company concluded that the Food and Commercial business units were two separate operating segments but met the requirements to be aggregated into a single reportable segment, pursuant to authoritative accounting literature, as they had similar economic and qualitative characteristics.

During the second quarter of 2020, the Company implemented further changes to its management reporting structure, which included:

•The appointment of Chief Executive Officers for the Appliances and Cookware and Outdoor and Recreation business units;

•Expanding the responsibilities of the Food business unit Chief Executive Officer to include oversight of the Home Fragrance business unit; and

•Expanding the responsibilities of the Commercial business unit Chief Executive Officer to include oversight of the Connected Home & Security business unit.

The Company determined these appointments required a reassessment of its operating and reportable segments. As a result of its assessment, the Company concluded that it had the following five primary reportable segments:

Segment

Key Brands

Description of Primary Products

Appliances and Cookware

Calphalon®, Crock-Pot®, Mr. Coffee®, Oster® and Sunbeam®

Household products, including kitchen appliances, gourmet cookware, bakeware and cutlery

Commercial Solutions

BRK®, First Alert®, Mapa®, Quickie®, Rubbermaid Commercial Products®, and Spontex®

Commercial cleaning and maintenance solutions; hygiene systems and material handling solutions; connected home and security and smoke and carbon monoxide alarms

Home
Solutions

Ball® (1), Chesapeake Bay Candle®, FoodSaver®, Rubbermaid®, Sistema®, WoodWick® and Yankee Candle®

Food and home storage products; fresh preserving products, vacuum sealing products and home fragrance products

Learning and
Development

Aprica®, Baby Jogger®, Dymo®, Elmer’s®, EXPO®, Graco®, Mr. Sketch®, NUK®, Paper Mate®, Parker®, Prismacolor®, Sharpie®, Tigex® Waterman® and X-Acto®

Baby gear and infant care products; writing instruments, including markers and highlighters, pens and pencils; art products; activity-based adhesive and cutting products and labeling solutions

Outdoor and Recreation

Coleman®, Contigo®, ExOfficio®, Marmot®

Products for outdoor and outdoor-related activities

(1) Ball® TM of Ball Corporation, used under license.

This new structure reflects the manner in which the CODM regularly assesses information for decision-making purposes, including the allocation of resources. The Company also provides general corporate services to its segments which is reported as a non-operating segment, Corporate. As a result of these changes, net sales, operating income (loss) and impairment of goodwill and indefinite-lived intangible assets for the three and nine months ended September 30, 2019 and segment assets as of December 31, 2019 have been recast for the new segment structure. Selected information by segment is presented in the following tables (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net sales (1)
Appliances and Cookware	$	479	$	430	$	1,129	$	1,122
Commercial Solutions	535		475		1,361		1,343
Home Solutions	574		484		1,276		1,227
Learning and Development	728		824		1,887		2,254
Outdoor and Recreation	383		356		1,043		1,145
	$	2,699	$	2,569	$	6,696	$	7,091

Operating income (loss) (2)
Appliances and Cookware	$	32	$	(595)	$	(266)	$	(593)
Commercial Solutions	84		(216)		(148)		(171)
Home Solutions	112		(112)		(150)		(113)
Learning and Development	159		182		290		488
Outdoor and Recreation	40		(41)		(409)		11
Corporate	(60)		(72)		(185)		(214)
Restructuring	(4)		(3)		(14)		(22)
	$	363	$	(857)	$	(882)	$	(614)

					September 30, 2020		December 31, 2019
Segment assets
Appliances and Cookware					$	1,204	$	1,468
Commercial Solutions					2,534		2,731
Home Solutions					3,142		3,327
Learning and Development					5,128		4,800
Outdoor and Recreation					1,108		1,570
Corporate					1,604		1,746
					$	14,720	$	15,642

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Impairment of goodwill and indefinite-lived intangibles assets (3)
Appliances and Cookware	$	—	$	609	$	299	$	609
Commercial Solutions	—		236		320		310
Home Solutions	—		158		290		158
Learning and Development	2		1		80		1
Outdoor and Recreation	—		67		482		67
	$	2	$	1,071	$	1,471	$	1,145

(1)All intercompany transactions have been eliminated.

(2)Operating income (loss) by segment is net sales less cost of products sold, SG&A and impairment of goodwill, intangibles and other assets for continuing operations. Certain Corporate expenses of an operational nature are allocated to business segments primarily on a net sales basis. Corporate depreciation and amortization is allocated to the segments on a percentage of sales basis, and included in segment operating income.

(3)During the three and nine months ended September 30, 2020, as a result of a product line divestiture in the Learning and Development segment, the Company recorded impairment charges of $2 million to reflect

impairment of an intangible asset related to certain of the segment’s indefinite-lived trade names. During the nine months ended September 30, 2020, the Company also recorded impairment charges to reflect impairment of intangible assets related to certain of the Company’s indefinite-lived trade names and goodwill. During the three months ended September 30, 2019, as a result of the Company’s annual other indefinite-lived intangible impairment testing, the Company recorded impairment charges to reflect impairment of intangible assets related to certain of the Company’s indefinite-lived trade names and goodwill. During the nine months ended September 30, 2019 the Company also recorded an impairment charge to reflect a decrease in the carrying values of Mapa/Spontex and Quickie goodwill while these businesses were classified as held for sale. See Footnote 7 for further information.

The following tables disaggregates revenue by major product grouping source and geography for the periods indicated (in millions):


	Three Months Ended September 30, 2020
	Appliances and Cookware		Commercial Solutions		Home Solutions		Learning and Development		Outdoor and Recreation		Total
Appliances and Cookware	$	479	$	—	$	—	$	—	$	—	$	479
Commercial	—		416		—		—		—		416
Connected Home Security	—		119		—		—		—		119
Food	—		—		304		—		—		304
Home Fragrance	—		—		270		—		—		270
Baby and Parenting	—		—		—		307		—		307
Writing	—		—		—		421		—		421
Outdoor and Recreation	—		—		—		—		383		383

Total	$	479	$	535	$	574	$	728	$	383	$	2,699

North America	$	297	$	407	$	462	$	529	$	232	$	1,927
International	182		128		112		199		151		772
Total	$	479	$	535	$	574	$	728	$	383	$	2,699

	Three Months Ended September 30, 2019
	Appliances and Cookware		Commercial Solutions		Home Solutions		Learning and Development		Outdoor and Recreation		Total
Appliances and Cookware	$	430	$	—	$	—	$	—	$	—	$	430
Commercial	—		362		—		—		—		362
Connected Home Security	—		113		—		—		—		113
Food	—		—		229		—		—		229
Home Fragrance	—		—		255		—		—		255
Baby and Parenting	—		—		—		300		—		300
Writing	—		—		—		524		—		524
Outdoor and Recreation	—		—		—		—		356		356

Total	$	430	$	475	$	484	$	824	$	356	$	2,569

North America	$	297	$	366	$	384	$	605	$	230	$	1,882
International	133		109		100		219		126		687
Total	$	430	$	475	$	484	$	824	$	356	$	2,569


	Nine Months Ended September 30, 2020
	Appliances and Cookware		Commercial Solutions		Home Solutions		Learning and Development		Outdoor and Recreation		Total
Appliances and Cookware	$	1,129	$	—	$	—	$	—	$	—	$	1,129
Commercial	—		1,109		—		—		—		1,109
Connected Home Security	—		252		—		—		—		252
Food	—		—		741		—		—		741
Home Fragrance	—		—		535		—		—		535
Baby and Parenting	—		—		—		790		—		790
Writing	—		—		—		1,097		—		1,097
Outdoor and Recreation	—		—		—		—		1,043		1,043

Total	$	1,129	$	1,361	$	1,276	$	1,887	$	1,043	$	6,696

North America	$	704	$	1,013	$	1,029	$	1,393	$	642	$	4,781
International	425		348		247		494		401		1,915
Total	$	1,129	$	1,361	$	1,276	$	1,887	$	1,043	$	6,696

	Nine Months Ended September 30, 2019
	Appliances and Cookware		Commercial Solutions		Home Solutions		Learning and Development		Outdoor and Recreation		Total
Appliances and Cookware	$	1,122	$	—	$	—	$	—	$	—	$	1,122
Commercial	—		1,056		—		—		—		1,056
Connected Home Security	—		287		—		—		—		287
Food	—		—		604		—		—		604
Home Fragrance	—		—		623		—		—		623
Baby and Parenting	—		—		—		826		—		826
Writing	—		—		—		1,428		—		1,428
Outdoor and Recreation	—		—		—		—		1,145		1,145

Total	$	1,122	$	1,343	$	1,227	$	2,254	$	1,145	$	7,091

North America	$	731	$	1,018	$	963	$	1,626	$	720	$	5,058
International	391		325		264		628		425		2,033
Total	$	1,122	$	1,343	$	1,227	$	2,254	$	1,145	$	7,091

Litigation and Contingencies	9 Months Ended
Litigation and Contingencies	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Litigation and Contingencies	Litigation and Contingencies The Company is subject to various claims and lawsuits in the ordinary course of business, including from time to time, contractual disputes, employment and environmental matters, product and general liability claims, claims that the Company has infringed on the intellectual property rights of others, and consumer and employment class actions. Some of the legal proceedings include claims for punitive as well as compensatory damages. In the ordinary course of business, the Company is also subject to legislative requests, regulatory and governmental examinations, information requests and subpoenas, inquiries, investigations, and threatened legal actions and proceedings. In connection with such formal and informal inquiries, the Company receives numerous requests, subpoenas, and orders for documents, testimony, and information in connection with various aspects of its activities. On January 31, 2020, the Company received a subpoena from the U.S. Securities and Exchange Commission (the “SEC”) primarily relating to its sales practices and certain accounting matters during the period from January 1, 2016 to the date of the subpoena. The subpoena followed various informal document requests from the SEC staff, including several requests primarily related to the impairment of goodwill and other intangible assets. The Company has cooperated in providing documents and information to the SEC in connection with its requests and intends to continue to do so in connection with the subpoena. The Company cannot predict the timing or outcome of this investigation. Securities Litigation Certain of the Company’s current and former officers and directors have been named in shareholder derivative lawsuits. On October 29, 2018, a shareholder filed a putative derivative complaint, Streicher v. Polk, et al., in the United States District Court for the District of Delaware (the “Streicher Derivative Action”), purportedly on behalf of the Company against certain of the Company's current and former officers and directors. On October 30, 2018, another shareholder filed a putative derivative complaint, Martindale v. Polk, et al., in the United States District Court for the District of Delaware (the “Martindale Derivative Action”), asserting substantially similar claims purportedly on behalf of the Company against the same defendants. The complaints allege, among other things, violations of the federal securities laws, breaches of fiduciary duties, unjust enrichment, and waste of corporate assets. The factual allegations underlying these claims are similar to the factual allegations made in the In re Newell Brands, Inc. Securities Litigation pending in the United States District Court for the District of New Jersey, further described below. The complaints seek unspecified damages and restitution for the Company from the individual defendants, the payment of costs and attorneys’ fees, and that the Company be directed to reform certain governance and internal procedures. The Streicher Derivative Action and the Martindale Derivative Action have been consolidated and the case is now known as In re Newell Brands Inc. Derivative Litigation (the "Newell Brands Derivative Action”), which is pending in the United States District Court for the District of Delaware. On January 31, 2019, the United States District Court for the District of Delaware stayed the Newell Brands Derivative Action pending the resolution of the motions to dismiss filed in In re Newell Brands Inc. Securities Litigation and Oklahoma Firefighters Pension and Retirement System v. Newell Brands Inc., et al. (described below). The Company and certain of its current and former officers and directors have been named as defendants in a putative securities class action lawsuit filed in the Superior Court of New Jersey, Hudson County, on behalf of all persons who acquired Company common stock pursuant or traceable to the S-4 registration statement and prospectus issued in connection with the April 2016 acquisition of Jarden (the “Registration Statement”). The action was filed on September 6, 2018, and is captioned Oklahoma Firefighters Pension and Retirement System v. Newell Brands Inc., et al., Civil Action No. HUD-L-003492-18. The operative complaint alleges certain violations of the securities laws, including, among other things, that the defendants made certain materially false and misleading statements and omissions in the Registration Statement regarding the Company’s financial results, trends, and metrics. The plaintiff seeks compensatory damages and attorneys’ fees and costs, among other relief, but has not specified the amount of damages being sought. The Company intends to defend the litigation vigorously. The Company and certain of its officers have been named as defendants in two putative securities class action lawsuits, each filed in the United States District Court for the District of New Jersey, on behalf of all persons who purchased or otherwise acquired the Company's common stock between February 6, 2017 and January 24, 2018. The first lawsuit was filed on June 21, 2018 and is captioned Bucks County Employees Retirement Fund, Individually and on behalf of All Others Similarly Situated v. Newell Brands Inc., Michael B. Polk, Ralph J. Nicoletti, and James L. Cunningham, III, Civil Action No. 2:18-cv-10878 (United States District Court for the District of New Jersey). The second lawsuit was filed on June 27, 2018 and is captioned Matthew Barnett, Individually and on Behalf of All Others Similarly Situated v. Newell Brands Inc., Michael B. Polk, Ralph J. Nicoletti, and James L. Cunningham, III, Civil Action No. 2:18-cv-11132 (United States District Court for the District of New Jersey). On September 27, 2018, the court consolidated these two cases under Civil Action No. 18-cv-10878 (JMV)(JBC) bearing the caption In re Newell Brands, Inc. Securities Litigation. The court also named Hampshire County Council Pension Fund as the lead plaintiff in the consolidated case. The operative complaint alleges certain violations of the securities laws, including, among other things, that the defendants made certain materially false and misleading statements and omissions regarding the Company’s business, operations, and prospects between February 6, 2017 and January 24, 2018. The plaintiffs seek compensatory damages and attorneys’ fees and costs, among other relief, but have not specified the amount of damages being sought. The Company intends to defend the litigation vigorously. On January 10, 2020, the court in In re Newell Brands Inc. Securities Litigation entered a dismissal with prejudice after granting the Company’s motion to dismiss. On February 7, 2020, the plaintiffs filed an appeal to the United States Court of Appeals for the Third Circuit. Jarden Acquisition Under the Delaware General Corporation Law (“DGCL”), any Jarden stockholder who did not vote in favor of adoption of the Merger Agreement, and otherwise complies with the provisions of Section 262 of the DGCL, was entitled to seek an appraisal of his or her shares of Jarden common stock by the Court of Chancery of the State of Delaware as provided under Section 262 of the DGCL. Two separate appraisal petitions, styled as Dunham Monthly Distribution Fund v. Jarden Corporation, Case No. 12454-VCS (Court of Chancery of the State of Delaware), and Merion Capital LP v. Jarden Corporation, Case No. 12456-VCS (Court of Chancery of the State of Delaware), respectively, were filed on June 14, 2016 by a total of ten purported Jarden stockholders seeking an appraisal of the fair value of their shares of Jarden common stock pursuant to Section 262 of the DGCL. A third appraisal petition, Fir Tree Value Master Fund, LP v. Jarden Corporation, Case No. 12546-VCS (Court of Chancery of the State of Delaware), was filed on July 8, 2016 by two purported Jarden stockholders seeking an appraisal of the fair value of their shares of Jarden common stock pursuant to Section 262 of the DGCL. A fourth appraisal petition, Veritian Partners Master Fund LTP v. Jarden Corporation, Case No. 12650-VCS (Court of Chancery of the State of Delaware), was filed on August 12, 2016 by two purported Jarden stockholders seeking an appraisal of the fair value of their shares of Jarden common stock pursuant to Section 262 of the DGCL. On or about October 3, 2016, the foregoing petitions were consolidated for joint prosecution under Case No. 12456-VCS, and, except as provided below, the litigation is ongoing. The holders of a total of approximately 10.6 million former Jarden shares were represented in these actions initially. On July 5, 2017 and July 6, 2017, Jarden and 11 of the dissenting stockholders, specifically including Merion Capital ERISA LP, Merion Capital LP, Merion Capital II LP, Dunham Monthly Distribution Fund, WCM Alternatives: Event-Driven Fund, Westchester Merger Arbitrage Strategy sleeve of the JNL Multi-Manager Alternative Fund, JNL/Westchester Capital Event Driven Fund, WCM Master Trust, The Merger Fund, The Merger Fund VL and SCA JP Morgan Westchester (collectively, the “Settling Petitioners”), entered into settlement agreements with respect to approximately 7.7 million former Jarden shares (collectively, the “Settlement Agreements”). Pursuant to the Settlement Agreements, in exchange for withdrawing their respective demands for appraisal of their shares of Jarden common stock and a full and final release of all claims, among other things, the Settling Petitioners received the original merger consideration provided for under the Merger Agreement, specifically (1) 0.862 of a share of Newell common stock, and (2) $21.00 in cash, per share of Jarden common stock (collectively, the “Merger Consideration”), excluding any and all other benefits, including, without limitation, the right to accrued interest, dividends, and/or distributions. Accordingly, pursuant to the terms of the Settlement Agreements, Newell issued 6.6 million shares of Newell common stock to the Settling Petitioners (representing the stock component of the Merger Consideration), and authorized payment to the Settling Petitioners of approximately $162 million (representing the cash component of the Merger Consideration). The Court of Chancery of the State of Delaware has dismissed with prejudice the appraisal claims for the Settling Petitioners. Following the settlements, claims from the holders of approximately 2.9 million former Jarden shares remained outstanding in the proceedings. The value of the merger consideration attributable to such shares based on the Company’s stock price on the closing date of the Jarden acquisition would have been approximately $171 million in the aggregate. The fair value of the shares of Jarden common stock held by these dissenting stockholders, as determined by the court, is payable in cash and could be lower or higher than the Merger Consideration to which such Jarden stockholders would have been entitled under the Merger Agreement. On July 19, 2019, the Court issued an order in which it determined that the fair value of the remaining Jarden shares at the date of the Merger was $48.31 per share, reflecting approximately $140 million in value to be paid to the remaining dissenting shareholders. The Court also ordered the payment of accrued interest, compounded quarterly, and accruing from the date of closing to the date of payment. On July 26, 2019, the remaining dissenting shareholders filed a Motion for Reargument asking the Court to amend its valuation to no less than the deal price of $59.21 per share. On September 16, 2019, the Court denied the Motion for Reargument and affirmed its $48.31 per share valuation. The Court entered judgment on October 2, 2019. On October 4, 2019, the Company paid the judgment in the amount of approximately $177 million, which cut off interest accumulation on the judgment amount. The Company reflected $171 million and $6 million as a financing cash outflow and operating cash outflow, respectively, within the Company’s Consolidated Statement of Cash Flows for the year ended December 31, 2019. On November 1, 2019, the dissenting shareholders filed an appeal to the Supreme Court of Delaware. On July 9, 2020, the Supreme Court of Delaware affirmed the judgment. Gizmo Children’s Cup Recall In June 2019, a subsidiary of the Company conducted an internal investigation to determine the root cause of an issue related to a product line in the Outdoor and Recreation segment that was reported to the Company by one of its retailers. The Company determined that because of an issue occurring infrequently, but on a random basis, during the manufacturing process, the Gizmo Children’s cup may present users with a potential safety concern because the silicone spout may detach from the nylon base. The Company reported the issue to the Consumer Product Safety Commission and Health Canada, and issued a return authorization notice to retail customers. The Company announced a recall of the product on August 27, 2019 offering consumers a replacement lid if they had an affected product. In late 2019, the Company discovered that some product that had been inspected and subsequently resold or used as replacement lids for the recall was exhibiting the same type of separation of the spout from the lid base. The Company investigated the issue and ultimately determined to extend the recall to include the inspected product. The Company reported this conclusion to the relevant authorities and on February 19, 2020 announced an expansion of the recall. The Company has incurred inception to date charges associated with this matter of $22 million, including $2 million during the nine months ended September 30, 2020, net of recoveries from a third-party manufacturer. Environmental Matters The Company is involved in various matters concerning federal and state environmental laws and regulations, including matters in which the Company has been identified by the U.S. Environmental Protection Agency (“U.S. EPA”) and certain state environmental agencies as a potentially responsible party (“PRP”) at contaminated sites under the Comprehensive Environmental Response Compensation and Liability Act (“CERCLA”) and equivalent state laws. In assessing its environmental response costs, the Company has considered several factors, including the extent of the Company’s volumetric contribution at each site relative to that of other PRPs; the kind of waste; the terms of existing cost sharing and other applicable agreements; the financial ability of other PRPs to share in the payment of requisite costs; the Company’s prior experience with similar sites; environmental studies and cost estimates available to the Company; the effects of inflation on cost estimates; and the extent to which the Company’s, and other parties’, status as PRPs is disputed. The Company’s estimate of environmental remediation costs associated with these matters at September 30, 2020 was $43 million which is included in other accrued liabilities and other noncurrent liabilities in the Condensed Consolidated Balance Sheets. No insurance recovery was taken into account in determining the Company’s cost estimates or reserves, nor do the Company’s cost estimates or reserves reflect any discounting for present value purposes, except with respect to certain long-term operations and maintenance CERCLA matters. Because of the uncertainties associated with environmental investigations and response activities, the possibility that the Company could be identified as a PRP at sites identified in the future that require the incurrence of environmental response costs and the possibility that sites acquired in business combinations may require environmental response costs, actual costs to be incurred by the Company may vary from the Company’s estimates. Lower Passaic River Matter U.S. EPA has issued General Notice Letters (“GNLs”) to over 100 entities, including the Company and Berol Corporation, a subsidiary of the Company (“Berol”), alleging that they are PRPs at the Diamond Alkali Superfund Site, which includes a 17-mile stretch of the Lower Passaic River and its tributaries. Seventy-two of the GNL recipients, including the Company on behalf of itself and Berol (the “Company Parties”), have taken over the performance of the remedial investigation (“RI”) and feasibility study (“FS”) for the Lower Passaic River. On April 11, 2014, while work on the RI/FS remained underway, U.S. EPA issued a Source Control Early Action Focused Feasibility Study (“FFS”), which proposed four alternatives for remediation of the lower 8.3 miles of the Lower Passaic River. U.S. EPA’s cost estimates for its cleanup alternatives ranged from approximately $315 million to approximately $3.2 billion in capital costs plus from approximately $1 million to $2 million in annual maintenance costs for 30 years, with its preferred alternative carrying an estimated cost of approximately $1.7 billion plus an additional approximately $2 million in annual maintenance costs for 30 years. In February 2015, the participating parties submitted to the U.S. EPA a draft RI, followed by submission of a draft FS in April 2015. The draft FS sets forth various alternatives for remediating the lower 17 miles of the Passaic River, ranging from a “no action” alternative, to targeted remediation of locations along the entire lower 17 mile stretch of the river, to remedial actions consistent with U.S. EPA’s preferred alternative as set forth in the FFS for the lower 8.3 miles coupled with monitored natural recovery and targeted remediation in the upper nine miles. The cost estimates for these alternatives ranged from approximately $28 million to $2.7 billion, including related operation, maintenance and monitoring costs. U.S. EPA issued a conditional approval of the RI report in June 2019. U.S. EPA issued a Record of Decision for the lower 8.3 miles of the Lower Passaic River in March 2016 (the “2016 ROD”). The 2016 ROD finalizes as the selected remedy the preferred alternative set forth in the FFS, which U.S. EPA estimates will cost $1.4 billion. Subsequent to the release of the 2016 ROD, U.S. EPA issued GNLs for the lower 8.3 miles of the Lower Passaic River (the “2016 GNL”) to numerous entities, apparently including all previous recipients of the initial GNL, including Company Parties, as well as several additional entities. The 2016 GNL states that U.S. EPA would like to determine whether one entity, Occidental Chemical Corporation (“OCC”), will voluntarily perform the remedial design for the selected remedy for the lower 8.3 miles, and that following execution of an agreement for the remedial design, U.S. EPA plans to begin negotiation of a remedial action consent decree “under which OCC and the other major PRPs will implement and/or pay for U.S. EPA’s selected remedy for the lower 8.3 miles of the Lower Passaic River and reimburse U.S. EPA’s costs incurred for the Lower Passaic River.” In September 2016, OCC and EPA entered into an Administrative Order on Consent for performance of the remedial design. On March 30, 2017, U.S. EPA sent a letter offering a cash settlement in the amount of $0.3 million to 20 PRPs, not including the Company Parties, for CERCLA Liability (with reservations, such as for Natural Resource Damages) in the lower 8.3 miles of the Lower Passaic River. U.S. EPA further indicated in related correspondence that a cash-out settlement might be appropriate for additional parties that are “not associated with the release of dioxins, furans, or PCBs to the Lower Passaic River.” Then, by letter dated September 18, 2017, U.S. EPA announced an allocation process involving all GNL recipients except those participating in the first-round cash-out settlement, and five public entities. The letter affirms that U.S. EPA anticipates eventually offering cash-out settlements to a number of parties, and that it expects “that the private PRPs responsible for release of dioxin, furans, and/or PCBs will perform the OU2 lower 8.3 mile remedial action.” At this time, it is unclear how the cost of any cleanup would be allocated among any of the parties, including the Company Parties or any other entities. The site is also subject to a Natural Resource Damage Assessment. Following discussion with U.S. EPA regarding the 2015 draft FS, and U.S. EPA’s issuance of the 2016 ROD, the participating parties refocused the FS on the upper 9 miles of the Lower Passaic River. The parties submitted most portions of a final Interim Remedy FS (the “Draft IR FS”) on August 7, 2020, setting forth remedial alternatives ranging from “no further action” to targeted dredging and capping with different targets for post-remedy surface weighted average concentration of contamination. The cost estimates for these active alternatives range from approximately $321 million to $468 million. EPA has indicated it aims to have the IR FS finalized and to issue a Record of Decision for the upper nine miles in late 2020 or early 2021. OCC has asserted that it is entitled to indemnification by Maxus Energy Corporation (“Maxus”) for its liability in connection with the Diamond Alkali Superfund Site. OCC has also asserted that Maxus’s parent company, YPF, S.A., and certain other affiliates (the “YPF Entities”) similarly must indemnify OCC, including on an “alter ego” theory. On June 17, 2016, Maxus and certain of its affiliates commenced a chapter 11 bankruptcy case in the U.S. Bankruptcy Court for the District of Delaware. In connection with that proceeding, the YPF Entities are attempting to resolve any liability they may have to Maxus and the other Maxus entities undergoing the chapter 11 bankruptcy. An amended Chapter 11 plan of liquidation became effective in July 2017. In conjunction with that plan, Maxus and certain other parties, including the Company, entered into a mutual contribution release agreement (“Passaic Release”) pertaining to certain costs, but not costs associated with ultimate remedy. On June 30, 2018, OCC sued 120 parties, including the Company and Berol, in the U.S. District Court in New Jersey (“OCC Lawsuit”). OCC subsequently filed a separate, related complaint against 5 additional defendants. The OCC Lawsuit includes claims, counterclaims and cross-claims for cost recovery, contribution, and declaratory judgement under CERCLA. The current, primary focus of the claims, counterclaims and cross-claims against the defendants is on certain past and future costs for investigation, design and remediation of the 17- mile stretch of the Lower Passaic River and its tributaries, other than those subject to the Passaic Release. The complaint notes, however, that OCC may broaden its claims in the future if and when EPA selects remedial actions for other portions of the Site or completes a Natural Resource Damage Assessment. Given the uncertainties pertaining to this matter, including that U.S. EPA is still reviewing the FS, that no framework for or agreement on allocation for the investigation and ultimate remediation has been developed, and that there exists the potential for further litigation regarding costs and cost sharing, the extent to which the Company Parties may be held liable or responsible is not yet known. OCC stated in a subsequent filing that it “anticipates” asserting additional claims against the defendants “regarding Newark Bay,” which is also part of the Diamond Alkali Superfund Site, after U.S. EPA has decided the Newark Bay remedy. Based on currently known facts and circumstances, the Company does not believe that this matter is reasonably likely to have a material impact on the Company’s results of operations, including, among other factors, because there are numerous other parties who will likely share in any costs of remediation and/or damages. However, in the event of one or more adverse determinations related to this matter, it is possible that the ultimate liability resulting from this matter and the impact on the Company’s results of operations could be material. Because of the uncertainties associated with environmental investigations and response activities, the possibility that the Company could be identified as a PRP at sites identified in the future that require the incurrence of environmental response costs and the possibility that sites acquired in business combinations may require environmental response costs, actual costs to be incurred by the Company may vary from the Company’s estimates. Other Matters Although management of the Company cannot predict the ultimate outcome of these proceedings with certainty, it believes that the ultimate resolution of the Company’s proceedings, including any amounts it may be required to pay in excess of amounts reserved, will not have a material effect on the Company’s Consolidated Financial Statements, except as otherwise described above. In the normal course of business and as part of its acquisition and divestiture strategy, the Company may provide certain representations and indemnifications related to legal, environmental, product liability, tax or other types of issues. Based on the nature of these representations and indemnifications, it is not possible to predict the maximum potential payments under all of these agreements due to the conditional nature of the Company’s obligations and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements did not have a material effect on the Company’s business, financial condition or results of operations. In connection with the 2018 sale of The Waddington Group, Novolex Holdings, Inc. (the “Buyer”) filed suit against the Company in October 2019 in the Superior Court of Delaware. The Buyer generally alleged that the Company fraudulently breached certain representations in the Equity Purchase Agreement between the Company and Buyer, dated May 2, 2018, resulting in an inflated purchase price for The Waddington Group. The Company intends to defend the litigation vigorously. At September 30, 2020, the Company had approximately $49 million in standby letters of credit primarily related to the Company’s self-insurance programs, including workers’ compensation, product liability and medical expenses.

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Seasonal Variations	Seasonal Variations Sales of the Company’s products tend to be seasonal, with sales, operating income and operating cash flow in the first quarter generally lower than any other quarter during the year, driven principally by reduced volume and the mix of products sold in the first quarter. The seasonality of the Company’s sales volume combined with the accounting for fixed costs, such as depreciation, amortization, rent, personnel costs and interest expense, impacts the Company’s results on a quarterly basis. In addition, the Company typically tends to generate the majority of its operating cash flow in the third and fourth quarters of the year due to seasonal variations in operating results, the timing of annual performance-based compensation payments, customer program payments, working capital requirements and credit terms provided to customers. Accordingly, the Company’s results of operations for the three and nine months ended September 30, 2020 may not necessarily be indicative of the results that may be expected for the year ending December 31, 2020.
Recent Accounting Pronouncements and New Accounting Guidance	Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. In August 2018, the FASB issued ASU 2018-14, “Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans.” ASU 2018-14 modifies disclosure requirements for defined benefit pension and other postretirement plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020. Since ASU 2018-14 only impacts the disclosure requirements related to defined benefit pension and other postretirement plans, the adoption of ASU 2018-14 will not have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes” (Topic 740). ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for years, and interim periods within those years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the potential effects of the adoption of ASU 2019-12. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU 2020-04 provides optional expedients and exceptions to account for contracts, hedging relationships and other transactions that reference LIBOR or another reference rate if certain criteria are met. ASU 2020-04 may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is currently evaluating the potential effects of the adoption of ASU 2020-04. Adoption of New Accounting Guidance The Company’s accounting policies are described in Note 1 of the Notes to Consolidated Financial Statements included in our 2019 Annual Report on Form 10-K. Such significant accounting policies are applicable for periods prior to the adoption of the following new accounting standards and updated accounting policies. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 involves several aspects of the accounting for credit losses related to certain financial instruments including assets measured at amortized cost, available-for-sale debt securities and certain off-balance sheet commitments. ASU 2016-13, and subsequent updates, broadens the information that an entity must consider in developing its estimated credit losses expected to occur over the remaining life of assets measured either collectively or individually to include historical experience, current conditions and reasonable and supportable forecasts, replacing the existing incurred credit loss model and other models with the Current Expected Credit Losses (“CECL”) model. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019. The Company adopted ASU 2016-13 on a modified retrospective basis effective January 1, 2020. The adoption of ASU 2016-03 did not have a material impact on the Company’s consolidated financial statements. The Company's reserves for expected credit losses at September 30, 2020 and December 31, 2019 were $37 million and $29 million respectively. In August 2018, the FASB issued ASU 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” ASU 2018-15 clarifies the accounting treatment for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when the arrangement includes a software license. ASU 2018-15 is effective for public business entities for years, and interim periods within those years, beginning after December 15, 2019. The Company adopted ASU 2018-15 prospectively to all implementation costs incurred after January 1, 2020, the date of adoption. The adoption of ASU 2018-15 did not have a material impact on the Company’s consolidated financial statements.

Divestitures and Held for Sale (Tables)

9 Months Ended

Sep. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Summary of Amounts Included in Discontinued Operations

The following table provides a summary of amounts included in discontinued operations for the 2019 periods indicated (in millions):


	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Net sales	$	29	$	332
Cost of products sold	18		245
Gross profit	11		87
Selling, general and administrative expenses	4		42

Impairment of goodwill, intangibles and other assets	—		112
Operating income (loss)	7		(67)
Non-operating income, net	(2)		(2)
Income (loss) before income taxes	9		(65)
Income tax provision (benefit)	(6)		30
Net income (loss)	$	15	$	(95)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Paragraph 11
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss

The following tables display the changes in Accumulated Other Comprehensive Loss (“AOCL”) by component, net of tax, for the nine months ended September 30, 2020 (in millions):


	Cumulative Translation Adjustment		Pension and Postretirement Costs		Derivative Financial Instruments		AOCL
Balance at December 31, 2019	$	(479)	$	(399)	$	(42)	$	(920)
Other comprehensive income (loss) before reclassifications	(97)		(2)		21		(78)
Amounts reclassified to earnings	—		14		(4)		10
Net current period other comprehensive income (loss)	(97)		12		17		(68)
Balance at September 30, 2020	$	(576)	$	(387)	$	(25)	$	(988)

Schedule of Income Tax (Provision) Benefit Allocated to Components of OCI

The income tax (expense) benefit allocated to the components of AOCL for the periods indicated are as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Foreign currency translation adjustments	$	12	$	—	$	11	$	—
Unrecognized pension and postretirement costs	(1)		3		(3)		11
Derivative financial instruments	2		(1)		(5)		1
Income tax benefit related to AOCL	$	13	$	2	$	3	$	12

Restructuring Costs (Tables)

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Costs Incurred by Reportable Business Segment

Restructuring costs, net incurred by reportable business segments for all restructuring activities in continuing operations for the periods indicated are as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Appliances and Cookware	$	1	$	—	$	1	$	2
Commercial Solutions	—		—		2		1
Home Solutions	1		1		6		7
Learning and Development	1		—		2		5
Outdoor and Recreation	1		1		2		2
Corporate	—		1		1		5
	$	4	$	3	$	14	$	22

Schedule of Accrued Restructuring Costs Activity

Accrued restructuring costs activity for the nine months ended September 30, 2020 are as follows (in millions):


	Balance at December 31, 2019		Restructuring Costs, Net		Payments		Balance at September 30, 2020
Employee severance and termination benefits	$	10	$	12	$	(14)	$	8
Exited contractual commitments and other	12		2		(7)		7
	$	22	$	14	$	(21)	$	15

Inventories (Tables)

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Components of Net Inventories

Inventories are comprised of the following at the dates indicated (in millions):


	September 30, 2020		December 31, 2019
Raw materials and supplies	$	275	$	231
Work-in-process	146		135
Finished products	1,297		1,240
	$	1,718	$	1,606

Property, Plant and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net, is comprised of the following at the dates indicated (in millions):


	September 30, 2020		December 31, 2019
Land	$	83	$	86
Buildings and improvements	644		641
Machinery and equipment	2,221		2,151
	2,948		2,878
Less: Accumulated depreciation	(1,833)		(1,723)
	$	1,115	$	1,155

Goodwill and Other Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Goodwill by Reportable Business Segment

Goodwill activity for the nine months ended September 30, 2020 is as follows (in millions):


					September 30, 2020
Segments	Net Book Value at December 31, 2019		Impairment Charges		Foreign Exchange and Other		Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value
Appliances and Cookware	$	212	$	(212)	$	—	$	744	$	(744)	$	—
Commercial Solutions	747		—		—		1,241		(494)		747
Home Solutions	164		—		—		2,392		(2,228)		164
Learning and Development	2,586		—		26		3,458		(846)		2,612
Outdoor and Recreation	—		—		—		788		(788)		—
	$	3,709	$	(212)	$	26	$	8,623	$	(5,100)	$	3,523

Schedule of Other Intangible Assets and Related Amortization Periods

Other intangible assets, net, are comprised of the following at the dates indicated (in millions):


	September 30, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Amortization Periods (in years)
Trade names — indefinite life	$	2,315	$	—	$	2,315	$	3,560	$	—	$	3,560	N/A
Trade names — other	158		(55)		103		169		(50)		119		2-15
Capitalized software	620		(475)		145		587		(435)		152		3-12
Patents and intellectual property	123		(104)		19		135		(102)		33		3-14
Customer relationships and distributor channels	1,251		(266)		985		1,328		(283)		1,045		3-30
Other	—		—		—		109		(102)		7		3-5
	$	4,467	$	(900)	$	3,567	$	5,888	$	(972)	$	4,916

Schedule of Indefinite-Lived Intangible Assets by Segment

The impairment charges were allocated to the Company’s reporting segments as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019 (1)		2020		2019 (1)
Impairment of indefinite-lived intangibles assets
Appliances and Cookware	$	—	$	607	$	87	$	607
Commercial Solutions	—		152		320		152
Home Solutions	—		152		290		152
Learning and Development	2		—		80		—
Outdoor and Recreation	—		65		482		65
	$	2	$	976	$	1,259	$	976

Other Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Other Liabilities Disclosure [Abstract]

Other Accrued Liabilities

Other accrued liabilities are comprised of the following at the dates indicated (in millions):


	September 30, 2020		December 31, 2019
Customer accruals	$	649	$	605
Accrued interest expense	133		63
Operating lease liabilities	131		132
Accrued self-insurance liabilities, contingencies and warranty	110		124
Accrued income taxes	82		114
Accruals for manufacturing, marketing and freight expenses	55		50
Other	220		252
	$	1,380	$	1,340

Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Summary of Debt

Debt is comprised of the following at the dates indicated (in millions):


	September 30, 2020		December 31, 2019
4.70% senior notes due 2020	$	—	$	305
3.15% senior notes due 2021	94		94
3.75% senior notes due 2021	355		342
4.00% senior notes due 2022	250		249
3.85% senior notes due 2023	1,389		1,388
4.00% senior notes due 2024	200		199
4.875% senior notes due 2025	492		—
3.90% senior notes due 2025	47		47
4.20% senior notes due 2026	1,973		1,986

5.375% senior notes due 2036	416		416
5.50% senior notes due 2046	657		657
Commercial paper	—		25

Other debt	18		15
Total debt	5,891		5,723
Short-term debt and current portion of long-term debt	(97)		(332)
Long-term debt	$	5,794	$	5,391

Schedule of Fair Value of Senior Notes

The fair value of the Company’s senior notes are based upon prices of similar instruments in the marketplace and are as follows (in millions):


	September 30, 2020				December 31, 2019
	Fair Value		Book Value		Fair Value		Book Value
Senior notes	$	6,329	$	5,873	$	5,990	$	5,683

Derivatives (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments

The following table presents the fair value of derivative financial instruments at the dates indicated (in millions):


	September 30, 2020				December 31, 2019
	Fair Value of Derivatives				Fair Value of Derivatives
	Asset (a)		Liability (a)		Asset (a)		Liability (a)
Derivatives designated as effective hedges:
Cash flow hedges:
Foreign currency contracts	$	5	$	2	$	1	$	13

Fair value hedges:
Interest rate swaps	7		—		2		1
Net investment hedges:
Cross-currency swaps	—		43		—		—
Derivatives not designated as effective hedges:
Foreign currency contracts	12		3		10		4

Total	$	24	$	48	$	13	$	18

(a) Consolidated balance sheet location:
Asset: Prepaid expenses and other, and other noncurrent assets
Liability: Other accrued liabilities, and current and noncurrent liabilities

Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges


		Three Months Ended September 30, 2020				Three Months Ended September 30, 2019
		Gain/(Loss)				Gain/(Loss)
	Location of gain/(loss) recognized in income	Recognized in OCI (effective portion)		Reclassified from AOCL to Income		Recognized in OCI (effective portion)		Reclassified from AOCL to Income
Interest rate swaps	Interest expense, net	$	—	$	(2)	$	—	$	(4)
Foreign currency contracts	Net sales and cost of products sold	(3)		8		6		4
Commodity contracts	Cost of products sold	—		—		—		—
Cross-currency swaps	Other expense, net	(47)		—		—		—
Total		$	(50)	$	6	$	6	$	—

		Nine Months Ended September 30, 2020				Nine Months Ended September 30, 2019
		Gain/(Loss)				Gain/(Loss)
	Location of gain/(loss) recognized in income	Recognized in OCI (effective portion)		Reclassified from AOCL to Income		Recognized in OCI (effective portion)		Reclassified from AOCL to Income
Interest rate swaps	Interest expense, net	$	—	$	(5)	$	—	$	(7)
Foreign currency contracts	Net sales and cost of products sold	27		10		1		12
Commodity contracts	Cost of products sold	—		—		—		—
Cross-currency swaps	Other expense, net	(43)		—		—		—
Total		$	(16)	$	5	$	1	$	5

Employee Benefit and Retirement Plans (Tables)

9 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Schedule Of Company's Pension Cost And Supplemental Retirement Plans

The components of pension and postretirement benefit expense for continuing operations for the periods indicated, are as follows (in millions):


	Pension Benefits
	Three Months Ended September 30,
	U.S.				International
	2020		2019		2020		2019
Service cost	$	—	$	—	$	1	$	2
Interest cost	10		12		2		3
Expected return on plan assets	(16)		(14)		(2)		(4)
Amortization, net	6		4		1		1

Total expense	$	—	$	2	$	2	$	2


	Pension Benefits
	Nine Months Ended September 30,
	U.S.				International
	2020		2019		2020		2019
Service cost	$	—	$	—	$	3	$	5
Interest cost	28		37		7		9
Expected return on plan assets	(46)		(44)		(5)		(10)
Amortization, net	18		12		2		2
Settlements	1		—		—		—
Total expense	$	1	$	5	$	7	$	6


	Postretirement Benefits
	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019

Interest cost	$	—	$	—	$	1	$	1
Amortization, net	(1)		(2)		(4)		(7)
Total income	$	(1)	$	(2)	$	(3)	$	(6)

Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Schedule of Consolidated Balance Sheet Related To Leases

Supplemental Condensed Consolidated Balance Sheet information related to leases for the periods indicated, are as follows (in millions):


	Classification	September 30, 2020		December 31, 2019
Assets
Operating leases	Operating lease assets, net (1)	$	543	$	615
Finance leases	Property, plant and equipment, net (2)	11		15
Total lease assets		$	554	$	630
Liabilities
Current
Operating leases	Other accrued liabilities	$	131	$	132
Finance leases	Short-term debt and current portion of long-term debt	3		3
Noncurrent
Operating leases	Long-term operating lease liabilities	485		541
Finance leases	Long-term debt	6		10
Total lease liabilities		$	625	$	686

(2) Net of accumulated depreciation of $11 million and $8 million at September 30, 2020 and December 31, 2019.

Schedule of Consolidated Statement Of Operation Related To Leases

Components of lease expense as of the date indicated, are as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Operating lease cost:
Operating lease cost (1)	$	45	$	49	$	137	$	156
Variable lease costs (2)	6		6		17		19
Finance lease cost:
Amortization of leased assets	1		1		3		3

(1)Includes short-term leases, which are immaterial.

(2)Consists primarily of additional payments for non-lease components, such as maintenance costs, payments of taxes and additional rent based on a level of the Company’s retail store sales.

Remaining lease term and discount rates as of the date indicated, are as follows:


			September 30, 2020
Weighted average remaining lease term (years):
Operating leases			6
Finance leases			3
Weighted average discount rate:
Operating leases			4.3%
Finance leases			3.4%

Supplemental cash flow information related to leases for the periods indicated are as follows (in millions):


	Nine Months Ended September 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	133	$	153
Operating cash flows from finance leases	—		1
Financing cash flows from finance leases	3		3
Right of use assets obtained in exchange for lease liabilities:
Operating leases	53		124
Finance leases	—		7

Schedule of Maturities for Operating Lease Liabilities

Maturities of lease liabilities for continuing operations at September 30, 2020, are as follows (in millions):


	Operating Leases		Finance Leases
2020 (Excludes nine months ended September 30, 2020)	$	42	$	1
2021	152		4
2022	130		3
2023	97		1
2024	76		—
Thereafter	220		—
Total lease payments	717		9
Less: imputed interest	(101)		—
Present value of lease liabilities	$	616	$	9

Schedule of Maturities for Finance Lease Liabilities

Maturities of lease liabilities for continuing operations at September 30, 2020, are as follows (in millions):


	Operating Leases		Finance Leases
2020 (Excludes nine months ended September 30, 2020)	$	42	$	1
2021	152		4
2022	130		3
2023	97		1
2024	76		—
Thereafter	220		—
Total lease payments	717		9
Less: imputed interest	(101)		—
Present value of lease liabilities	$	616	$	9

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Computations of Weighted Average Shares Outstanding

The computations of the weighted average shares outstanding for the periods indicated are as follows (in millions):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Weighted average shares outstanding	424.3	423.4	424.1	423.2
Share-based payment awards classified as participating securities (1)	—	—	—	0.1
Basic weighted average shares outstanding	424.3	423.4	424.1	423.3
Dilutive securities (2) (3)	1.1	—	—	—
Diluted weighted average shares outstanding	425.4	423.4	424.1	423.3

(2)The nine months ended September 30, 2020 excludes 0.9 million of potentially dilutive share-based awards as their effect would be anti-dilutive.

(3)The three and nine months ended September 30, 2019 excludes 0.4 million of potentially dilutive share-based awards as their effect would be anti-dilutive.

Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Fair Valuation Assumptions for Stock Options

The weighted average assumptions used to determine the fair value of stock options granted for the nine months ended September 30, 2020, is as follows:


Risk-free interest rates	1.4		%
Expected volatility	41.3		%
Expected dividend yield	3.9		%
Expected life (in years)	6.2
Exercise price	$	19.67

Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Summary of Non-Pension Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s non-pension financial assets and liabilities which are measured at fair value on a recurring basis (in millions):


	September 30, 2020								December 31, 2019
	Fair value Asset (Liability)								Fair value Asset (Liability)
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Derivatives:
Assets	$	—	$	24	$	—	$	24	$	—	$	13	$	—	$	13
Liabilities	—		(48)		—		(48)		—		(18)		—		(18)
Investment securities, including mutual funds	8		—		—		8		10		1		—		11

Fair Value Measurements, Nonrecurring

The following table summarizes the assets that are measured at Level 3 fair value on a non-recurring basis at the dates indicated:


	March 31, 2020		December 31, 2019

Indefinite-lived intangible assets	$	796	$	1,365

Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Selected information by segment is presented in the following tables (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net sales (1)
Appliances and Cookware	$	479	$	430	$	1,129	$	1,122
Commercial Solutions	535		475		1,361		1,343
Home Solutions	574		484		1,276		1,227
Learning and Development	728		824		1,887		2,254
Outdoor and Recreation	383		356		1,043		1,145
	$	2,699	$	2,569	$	6,696	$	7,091

Operating income (loss) (2)
Appliances and Cookware	$	32	$	(595)	$	(266)	$	(593)
Commercial Solutions	84		(216)		(148)		(171)
Home Solutions	112		(112)		(150)		(113)
Learning and Development	159		182		290		488
Outdoor and Recreation	40		(41)		(409)		11
Corporate	(60)		(72)		(185)		(214)
Restructuring	(4)		(3)		(14)		(22)
	$	363	$	(857)	$	(882)	$	(614)

					September 30, 2020		December 31, 2019
Segment assets
Appliances and Cookware					$	1,204	$	1,468
Commercial Solutions					2,534		2,731
Home Solutions					3,142		3,327
Learning and Development					5,128		4,800
Outdoor and Recreation					1,108		1,570
Corporate					1,604		1,746
					$	14,720	$	15,642

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Impairment of goodwill and indefinite-lived intangibles assets (3)
Appliances and Cookware	$	—	$	609	$	299	$	609
Commercial Solutions	—		236		320		310
Home Solutions	—		158		290		158
Learning and Development	2		1		80		1
Outdoor and Recreation	—		67		482		67
	$	2	$	1,071	$	1,471	$	1,145

(1)All intercompany transactions have been eliminated.

Summary of Disaggregation of Revenue by Major Product Grouping Source and Geography

The following tables disaggregates revenue by major product grouping source and geography for the periods indicated (in millions):


	Three Months Ended September 30, 2020
	Appliances and Cookware		Commercial Solutions		Home Solutions		Learning and Development		Outdoor and Recreation		Total
Appliances and Cookware	$	479	$	—	$	—	$	—	$	—	$	479
Commercial	—		416		—		—		—		416
Connected Home Security	—		119		—		—		—		119
Food	—		—		304		—		—		304
Home Fragrance	—		—		270		—		—		270
Baby and Parenting	—		—		—		307		—		307
Writing	—		—		—		421		—		421
Outdoor and Recreation	—		—		—		—		383		383

Total	$	479	$	535	$	574	$	728	$	383	$	2,699

North America	$	297	$	407	$	462	$	529	$	232	$	1,927
International	182		128		112		199		151		772
Total	$	479	$	535	$	574	$	728	$	383	$	2,699

	Three Months Ended September 30, 2019
	Appliances and Cookware		Commercial Solutions		Home Solutions		Learning and Development		Outdoor and Recreation		Total
Appliances and Cookware	$	430	$	—	$	—	$	—	$	—	$	430
Commercial	—		362		—		—		—		362
Connected Home Security	—		113		—		—		—		113
Food	—		—		229		—		—		229
Home Fragrance	—		—		255		—		—		255
Baby and Parenting	—		—		—		300		—		300
Writing	—		—		—		524		—		524
Outdoor and Recreation	—		—		—		—		356		356

Total	$	430	$	475	$	484	$	824	$	356	$	2,569

North America	$	297	$	366	$	384	$	605	$	230	$	1,882
International	133		109		100		219		126		687
Total	$	430	$	475	$	484	$	824	$	356	$	2,569


	Nine Months Ended September 30, 2020
	Appliances and Cookware		Commercial Solutions		Home Solutions		Learning and Development		Outdoor and Recreation		Total
Appliances and Cookware	$	1,129	$	—	$	—	$	—	$	—	$	1,129
Commercial	—		1,109		—		—		—		1,109
Connected Home Security	—		252		—		—		—		252
Food	—		—		741		—		—		741
Home Fragrance	—		—		535		—		—		535
Baby and Parenting	—		—		—		790		—		790
Writing	—		—		—		1,097		—		1,097
Outdoor and Recreation	—		—		—		—		1,043		1,043

Total	$	1,129	$	1,361	$	1,276	$	1,887	$	1,043	$	6,696

North America	$	704	$	1,013	$	1,029	$	1,393	$	642	$	4,781
International	425		348		247		494		401		1,915
Total	$	1,129	$	1,361	$	1,276	$	1,887	$	1,043	$	6,696

	Nine Months Ended September 30, 2019
	Appliances and Cookware		Commercial Solutions		Home Solutions		Learning and Development		Outdoor and Recreation		Total
Appliances and Cookware	$	1,122	$	—	$	—	$	—	$	—	$	1,122
Commercial	—		1,056		—		—		—		1,056
Connected Home Security	—		287		—		—		—		287
Food	—		—		604		—		—		604
Home Fragrance	—		—		623		—		—		623
Baby and Parenting	—		—		—		826		—		826
Writing	—		—		—		1,428		—		1,428
Outdoor and Recreation	—		—		—		—		1,145		1,145

Total	$	1,122	$	1,343	$	1,227	$	2,254	$	1,145	$	7,091

North America	$	731	$	1,018	$	963	$	1,626	$	720	$	5,058
International	391		325		264		628		425		2,033
Total	$	1,122	$	1,343	$	1,227	$	2,254	$	1,145	$	7,091

Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) segment	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of primary reportable segments (in segments) \| segment				5
Asset impairment charges		$ 1,500	$ 12		$ 12
Increase in sales during the period	5.00%
Reserve for doubtful accounts	$ 37			$ 37		$ 29
Sale of accounts receivable	$ 350
Increase in sale of accounts receivable				$ 150

Divestitures and Held for Sale - Summary of Amounts Included in Discontinued Operations (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Net sales		$ 29		$ 332
Cost of products sold		18		245
Gross profit		11		87
Selling, general and administrative expenses		4		42
Operating income (loss)		7		(67)
Non-operating income, net		(2)		(2)
Income (loss) before income taxes		9		(65)
Income tax provision (benefit)		(6)		30
Net income (loss)	$ 0	$ 15	$ 0	$ (95)

Divestitures and Held for Sale - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020 USD ($) business	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) business	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	May 01, 2019 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses held for sale (in businesses) \| business	0		0
Gain (loss) on disposition of business		$ (8)		$ (8)
Learning and Development
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposition of business	$ (8)		$ (8)
Rexair
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received for disposed business						$ 235
Gain (loss) on disposition of business		(4)		2
Process Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received for disposed business						$ 500
Gain (loss) on disposition of business		13		(9)
The United States Playing Card Company
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received for disposed business					$ 220
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of goodwill, intangibles and other assets		$ 0		$ 112

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 3,516	$ 5,004	$ 4,996	$ 5,253
Other comprehensive income (loss) before reclassifications			(78)
Amounts reclassified to earnings			10
Total other comprehensive income (loss), net of tax	18	(116)	(68)	(125)
Ending balance	3,750	4,169	3,750	4,169
Cumulative Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(479)
Other comprehensive income (loss) before reclassifications			(97)
Amounts reclassified to earnings			0
Total other comprehensive income (loss), net of tax			(97)
Ending balance	(576)		(576)
Pension and Postretirement Costs
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(399)
Other comprehensive income (loss) before reclassifications			(2)
Amounts reclassified to earnings			14
Total other comprehensive income (loss), net of tax			12
Ending balance	(387)		(387)
Derivative Financial Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(42)
Other comprehensive income (loss) before reclassifications			21
Amounts reclassified to earnings			(4)
Total other comprehensive income (loss), net of tax			17
Ending balance	(25)		(25)
AOCL
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,006)	(922)	(920)	(913)
Ending balance	$ (988)	$ (1,038)	$ (988)	$ (1,038)

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Equity [Abstract]
Pension and postretirement benefit plans, pretax expense	$ 6,000,000	$ 2,000,000	$ 17,000,000	$ 6,000,000
Reclassifications from AOCL, pretax expense (income)	$ (6,000,000)	$ 0	$ (5,000,000)	$ (5,000,000)

Accumulated Other Comprehensive Loss - Schedule of Income Tax (Provision) Benefit Allocated to Components of OCI (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Equity [Abstract]
Foreign currency translation adjustments	$ 12	$ 0	$ 11	$ 0
Unrecognized pension and postretirement costs	(1)	3	(3)	11
Derivative financial instruments	2	(1)	(5)	1
Income tax benefit related to AOCL	$ 13	$ 2	$ 3	$ 12

Restructuring Costs - Schedule of Restructuring Costs Incurred by Reportable Business Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	$ 4	$ 3	$ 14	$ 22
Appliances and Cookware \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	1	0	1	2
Commercial Solutions \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	0	0	2	1
Home Solutions \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	1	1	6	7
Learning and Development \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	1	0	2	5
Outdoor and Recreation \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	1	1	2	2
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	$ 0	$ 1	$ 1	$ 5

Restructuring Costs - Schedule of Accrued Restructuring Costs Activity (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
Beginning balance			$ 22
Restructuring costs, net	$ 4	$ 3	14	$ 22
Payments			(21)
Ending balance	15		15
Employee severance and termination benefits
Restructuring Reserve [Roll Forward]
Beginning balance			10
Restructuring costs, net			12
Payments			(14)
Ending balance	8		8
Exited contractual commitments and other
Restructuring Reserve [Roll Forward]
Beginning balance			12
Restructuring costs, net			2
Payments			(7)
Ending balance	$ 7		$ 7

Restructuring Costs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring costs, net	$ 4	$ 3	$ 14	$ 22
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	4	$ 3	14	$ 22
2020 Restructuring Plan
Restructuring and Related Activities [Abstract]
Restructuring costs, net	4		12
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	4		12
2020 Restructuring Plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	20		20
2020 Restructuring Plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	$ 25		$ 25

Inventories - Components of Net Inventories (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 275	$ 231
Work-in-process	146	135
Finished products	1,297	1,240
Total inventories	$ 1,718	$ 1,606

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Land	$ 83	$ 86
Buildings and improvements	644	641
Machinery and equipment	2,221	2,151
Property, plant and equipment, gross	2,948	2,878
Less: Accumulated depreciation	(1,833)	(1,723)
Property, plant and equipment, net	$ 1,115	$ 1,155

Property, Plant and Equipment, Net - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Pro forma \| Commercial Business
Property, Plant and Equipment [Line Items]
Depreciation expense		$ 36,000,000
Home Solutions
Property, Plant and Equipment [Line Items]
Noncash impairment charge			$ 1,000,000
Continuing Operations
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 52,000,000	99,000,000	$ 146,000,000	$ 180,000,000
Discontinued Operations
Property, Plant and Equipment [Line Items]
Depreciation expense		$ 0		$ 0

Goodwill and Other Intangible Assets, Net - Summary of Changes in Goodwill by Reportable Business Segment (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Goodwill [Roll Forward]
Net book value, beginning balance		$ 3,709
Impairment Charges	$ (83)	(212)	$ (157)
Foreign Exchange and Other	$ (20)	26
Gross Carrying Amount				$ 8,623
Accumulated Impairment Charges				(5,100)
Net Book Value		3,709		3,523
Appliances and Cookware
Goodwill [Roll Forward]
Net book value, beginning balance		212
Impairment Charges		(212)
Foreign Exchange and Other		0
Gross Carrying Amount				744
Accumulated Impairment Charges				(744)
Net Book Value		212		0
Commercial Solutions
Goodwill [Roll Forward]
Net book value, beginning balance		747
Impairment Charges		0
Foreign Exchange and Other		0
Gross Carrying Amount				1,241
Accumulated Impairment Charges				(494)
Net Book Value		747		747
Home Solutions
Goodwill [Roll Forward]
Net book value, beginning balance		164
Impairment Charges		0
Foreign Exchange and Other		0
Gross Carrying Amount				2,392
Accumulated Impairment Charges				(2,228)
Net Book Value		164		164
Learning and Development
Goodwill [Roll Forward]
Net book value, beginning balance		2,586
Impairment Charges		0
Foreign Exchange and Other		26
Gross Carrying Amount				3,458
Accumulated Impairment Charges				(846)
Net Book Value		2,586		2,612
Outdoor and Recreation
Goodwill [Roll Forward]
Net book value, beginning balance		0
Impairment Charges		0
Foreign Exchange and Other		0
Gross Carrying Amount				788
Accumulated Impairment Charges				(788)
Net Book Value		$ 0		$ 0

Goodwill and Other Intangible Assets, Net - Schedule of Other Intangible Assets and Related Amortization Periods (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,467	$ 5,888
Accumulated Amortization	(900)	(972)
Net Book Value	3,567	4,916
Trade Names
Intangible Assets [Line Items]
Indefinite life, net book value	2,315	3,560
Trade Names
Intangible Assets [Line Items]
Gross Carrying Amount	158	169
Accumulated Amortization	(55)	(50)
Net Book Value	$ 103	119
Trade Names \| Minimum
Intangible Assets [Line Items]
Amortization periods	2 years
Trade Names \| Maximum
Intangible Assets [Line Items]
Amortization periods	15 years
Capitalized software
Intangible Assets [Line Items]
Gross Carrying Amount	$ 620	587
Accumulated Amortization	(475)	(435)
Net Book Value	$ 145	152
Capitalized software \| Minimum
Intangible Assets [Line Items]
Amortization periods	3 years
Capitalized software \| Maximum
Intangible Assets [Line Items]
Amortization periods	12 years
Patents and intellectual property
Intangible Assets [Line Items]
Gross Carrying Amount	$ 123	135
Accumulated Amortization	(104)	(102)
Net Book Value	$ 19	33
Patents and intellectual property \| Minimum
Intangible Assets [Line Items]
Amortization periods	3 years
Patents and intellectual property \| Maximum
Intangible Assets [Line Items]
Amortization periods	14 years
Customer relationships and distributor channels
Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,251	1,328
Accumulated Amortization	(266)	(283)
Net Book Value	$ 985	1,045
Customer relationships and distributor channels \| Minimum
Intangible Assets [Line Items]
Amortization periods	3 years
Customer relationships and distributor channels \| Maximum
Intangible Assets [Line Items]
Amortization periods	30 years
Other
Intangible Assets [Line Items]
Gross Carrying Amount	$ 0	109
Accumulated Amortization	0	(102)
Net Book Value	$ 0	$ 7
Other \| Minimum
Intangible Assets [Line Items]
Amortization periods	3 years
Other \| Maximum
Intangible Assets [Line Items]
Amortization periods	5 years

Goodwill and Other Intangible Assets, Net - Additional Information (Detail) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($) tradeName	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)
Finite-Lived Intangible Assets [Line Items]
Impairment charges			$ 83	$ 212	$ 157
State income tax receivable overstated amount			20
Income tax receivable			20		20
Decrease in goodwill			20	(26)
Asset impairment charges		$ 1,500	12		12
Gain (loss) on disposition of business			(8)		(8)
Gain (loss) on disposition of business, net of tax			(6)		(6)
Impairment of indefinite-lived intangible assets	$ 2		976	1,259	976
Impairment of goodwill and indefinite-lived intangible assets	2		1,071	1,471	1,145
Number of indefinite lived trade names (in trade names) \| tradeName		9
Trade Names
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets			976	1,300
Commercial Solutions
Finite-Lived Intangible Assets [Line Items]
Impairment charges				0
Decrease in goodwill				0
Amortization of intangible assets			4
Impairment of indefinite-lived intangible assets	0		152	320	152
Impairment of goodwill and indefinite-lived intangible assets	0		236	320	310
Commercial Solutions \| Quickie business
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets			130
Commercial Solutions \| Mapa Spontex business
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets			22
Appliances and Cookware
Finite-Lived Intangible Assets [Line Items]
Impairment charges				212
Decrease in goodwill				0
Impairment of indefinite-lived intangible assets	0		607	87	607
Incremental impact of a 10% reduction In input				6
Home Solutions
Finite-Lived Intangible Assets [Line Items]
Impairment charges				0
Decrease in goodwill				0
Impairment of indefinite-lived intangible assets	0		152	290	152
Impairment of goodwill and indefinite-lived intangible assets	0		158	290	158
Impairment of indefinite-lived intangible assets, impact of a 10% reduction				39
Incremental impact of a 10% reduction In input				6
Home Solutions \| Home Fragrance
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets			152
Learning and Development
Finite-Lived Intangible Assets [Line Items]
Goodwill written off related to sale of business	3
Impairment charges				0
Decrease in goodwill				(26)
Gain (loss) on disposition of business	(8)			(8)
Impairment of indefinite-lived intangible assets	2		0	80	0
Impairment of goodwill and indefinite-lived intangible assets	2		1	80	1
Impairment of indefinite-lived intangible assets, impact of a 10% reduction	15			13
Incremental impact of a 10% reduction In input				16
Learning and Development \| Impairment triggering event
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets	2			2
Continuing Operations
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 39		52	$ 121	145
Discontinued Operations
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets			$ 0		$ 0

Goodwill and Other Intangible Assets, Net Goodwill and Other Intangible Assets, Net - Impairment of Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets	$ 2	$ 976	$ 1,259	$ 976
Appliances and Cookware
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets	0	607	87	607
Commercial Solutions
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets	0	152	320	152
Home Solutions
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets	0	152	290	152
Learning and Development
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets	2	0	80	0
Outdoor and Recreation
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangible assets	$ 0	$ 65	$ 482	$ 65

Other Accrued Liabilities (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Customer accruals	$ 649	$ 605
Accrued interest expense	133	63
Operating lease liabilities	131	132
Accrued self-insurance liabilities, contingencies and warranty	110	124
Accrued income taxes	82	114
Accruals for manufacturing, marketing and freight expenses	55	50
Other	220	252
Other accrued liabilities	$ 1,380	$ 1,340

Debt - Summary of Debt (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Commercial paper	$ 0	$ 25
Other debt	18	15
Debt
Total debt	5,891	5,723
Short-term debt and current portion of long-term debt	(97)	(332)
Long-term debt	5,794	5,391
4.70% senior notes due 2020
Debt Instrument [Line Items]
Senior notes	0	305
3.15% senior notes due 2021
Debt Instrument [Line Items]
Senior notes	94	94
3.75% senior notes due 2021
Debt Instrument [Line Items]
Senior notes	355	342
4.00% senior notes due 2022
Debt Instrument [Line Items]
Senior notes	250	249
3.85% senior notes due 2023
Debt Instrument [Line Items]
Senior notes	1,389	1,388
4.00% senior notes due 2024
Debt Instrument [Line Items]
Senior notes	200	199
4.875% senior notes due 2025
Debt Instrument [Line Items]
Senior notes	492	0
3.90% senior notes due 2025
Debt Instrument [Line Items]
Senior notes	47	47
4.20% senior notes due 2026
Debt Instrument [Line Items]
Senior notes	1,973	1,986
5.375% senior notes due 2036
Debt Instrument [Line Items]
Senior notes	416	416
5.50% senior notes due 2046
Debt Instrument [Line Items]
Senior notes	$ 657	$ 657

Debt - Summary of Debt (Footnotes) (Detail)	Sep. 30, 2020	Aug. 15, 2020
4.70% senior notes due 2020
Debt Instrument [Line Items]
Interest rate	4.70%	4.70%
3.15% senior notes due 2021
Debt Instrument [Line Items]
Interest rate	3.15%
3.75% senior notes due 2021
Debt Instrument [Line Items]
Interest rate	3.75%
4.00% senior notes due 2022
Debt Instrument [Line Items]
Interest rate	4.00%
3.85% senior notes due 2023
Debt Instrument [Line Items]
Interest rate	3.85%
4.00% senior notes due 2024
Debt Instrument [Line Items]
Interest rate	4.00%
4.875% senior notes due 2025
Debt Instrument [Line Items]
Interest rate	4.875%
3.90% senior notes due 2025
Debt Instrument [Line Items]
Interest rate	3.90%
4.20% senior notes due 2026
Debt Instrument [Line Items]
Interest rate	4.20%
5.375% senior notes due 2036
Debt Instrument [Line Items]
Interest rate	5.375%
5.50% senior notes due 2046
Debt Instrument [Line Items]
Interest rate	5.50%

Debt - Additional Information (Detail)	1 Months Ended		9 Months Ended
Debt - Additional Information (Detail)	May 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2020 EUR (€)	Aug. 15, 2020	Mar. 08, 2020 USD ($)
Debt Instrument [Line Items]
Senior notes subject to interest rate adjustment			$ 4,500,000,000
Interest rate change due to downgrade			0.0025
Total interest rate change			0.0050
Annual interest expense			$ 17,000,000
Increase in interest expense, annualized			23,000,000
Deferred gain (loss) on net investment hedge recorded in AOCL, net of tax			(11,000,000)
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 1,250,000,000
Line of credit			$ 0
Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Borrowing rate margin			1.275%
4.20% senior notes due 2026
Debt Instrument [Line Items]
Interest rate			4.20%	4.20%
4.70% senior notes due 2020
Debt Instrument [Line Items]
Interest rate			4.70%	4.70%	4.70%
3.75% senior notes due October 2021
Debt Instrument [Line Items]
Debt instrument, face amount \| €				€ 300,000,000
Commercial Paper
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 800,000,000
Senior notes \| 4.875% senior notes due May 2025
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500,000,000
Interest rate	4.875%
Proceeds from issuance of senior debt	$ 492,000,000
Redemption price percentage	100.00%
Senior notes \| 4.875% senior notes due May 2025 \| US Treasury (UST) interest rate
Debt Instrument [Line Items]
Borrowing rate margin	0.50%
Senior notes \| 4.20% senior notes due 2026
Debt Instrument [Line Items]
Debt instrument, face amount		$ 15,000,000
Interest rate		4.20%
Repayments of senior debt		$ 15,000,000
Senior notes \| 4.70% senior notes due 2020
Debt Instrument [Line Items]
Interest rate			4.70%	4.70%
Senior notes \| 3.75% senior notes due October 2021
Debt Instrument [Line Items]
Interest rate			3.75%	3.75%
Receivables facilities
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 600,000,000
Line of credit			$ 0

Debt - Schedule of Fair Value of Senior Notes (Detail) - Senior notes - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Fair Value	$ 6,329	$ 5,990
Book Value	$ 5,873	$ 5,683

Derivatives - Additional Information (Detail)	3 Months Ended		9 Months Ended
Derivatives - Additional Information (Detail)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Aug. 15, 2020 USD ($)	Mar. 31, 2020 USD ($) swap	Dec. 31, 2019 USD ($)
Derivative [Line Items]
Fair value of derivatives, liability	$ 48,000,000		$ 48,000,000				$ 18,000,000
Cash flow hedge gain (loss) to be reclassified within twelve months			(6,000,000)
Derivative instruments not designated as hedging instruments, income (expense), net	$ (3,000,000)	$ (2,000,000)	$ 6,000,000	$ (12,000,000)
4.70% senior notes due 2020
Derivative [Line Items]
Interest rate	4.70%		4.70%		4.70%
4.00% senior notes due 2024
Derivative [Line Items]
Debt instrument, face amount	$ 100,000,000		$ 100,000,000
Interest rate	4.00%		4.00%
Derivatives not designated as effective hedges
Derivative [Line Items]
Fair value of derivatives, liability	$ 3,000,000		$ 3,000,000				$ 4,000,000
Interest rate swaps
Derivative [Line Items]
Derivative, notional amount	100,000,000		100,000,000		$ 277,000,000
Cross-currency swaps
Derivative [Line Items]
Number of cross currency swaps (in swaps) \| swap						2
Fair value of derivatives, liability						$ 900,000,000
Gain on derivative	3,000,000		10,000,000
Foreign currency contracts
Derivative [Line Items]
Derivative, notional amount	289,000,000		289,000,000
Foreign currency contracts \| Derivatives not designated as effective hedges
Derivative [Line Items]
Derivative, notional amount	$ 842,000,000		$ 842,000,000

Derivatives - Schedule of Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Fair value of derivatives, asset	$ 24	$ 13
Fair value of derivatives, liability	48	18
Derivatives designated as effective hedges \| Cash flow hedges \| Foreign currency contracts
Derivatives, Fair Value [Line Items]
Fair value of derivatives, asset	5	1
Fair value of derivatives, liability	2	13
Derivatives designated as effective hedges \| Fair value hedges \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Fair value of derivatives, asset	7	2
Fair value of derivatives, liability	0	1
Derivatives designated as effective hedges \| Net investment hedge \| Cross-currency swaps
Derivatives, Fair Value [Line Items]
Fair value of derivatives, asset	0	0
Fair value of derivatives, liability	43	0
Derivatives not designated as effective hedges
Derivatives, Fair Value [Line Items]
Fair value of derivatives, asset	12	10
Fair value of derivatives, liability	$ 3	$ 4

Derivatives - Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in OCI (effective portion)	$ (50)	$ 6	$ (16)	$ 1
Reclassified from AOCL to Income	6	0	5	5
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in OCI (effective portion)	0	0	0	0
Reclassified from AOCL to Income	(2)	(4)	(5)	(7)
Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in OCI (effective portion)	(3)	6	27	1
Reclassified from AOCL to Income	8	4	10	12
Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in OCI (effective portion)	0	0	0	0
Reclassified from AOCL to Income	0	0	0	0
Cross-currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in OCI (effective portion)	(47)	0	(43)	0
Reclassified from AOCL to Income	$ 0	$ 0	$ 0	$ 0

Employee Benefit and Retirement Plans - Schedule of Company's Pension Cost And Supplemental Retirement Plans (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Pension Benefits \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	10	12	28	37
Expected return on plan assets	(16)	(14)	(46)	(44)
Amortization, net	6	4	18	12
Settlements			1	0
Total income or expense	0	2	1	5
Pension Benefits \| International
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	2	3	5
Interest cost	2	3	7	9
Expected return on plan assets	(2)	(4)	(5)	(10)
Amortization, net	1	1	2	2
Settlements			0	0
Total income or expense	2	2	7	6
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	0	0	1	1
Amortization, net	(1)	(2)	(4)	(7)
Total income or expense	$ (1)	$ (2)	$ (3)	$ (6)

Employee Benefit and Retirement Plans - Narrative (Details) - Subsequent Event - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Oct. 22, 2020
Defined Benefit Plan Disclosure [Line Items]
Percentage of benefit obligation allocated to retirees		45.00%
Forecast \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation settlement	$ 155
Reclassification adjustment from accumulated other comprehensive loss	(45)
Forecast \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation settlement	160
Reclassification adjustment from accumulated other comprehensive loss	$ (50)

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Jun. 18, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Contingency [Line Items]
Effective income tax rate		(7.40%)	33.80%	19.00%	34.90%
Federal statutory income tax rate				21.00%	21.00%
Discrete tax benefit related to statue of limitations expiration		$ (87)		$ 15
Reduction in valuation allowance		53
Tax expense, additional interest from uncertain tax positions		$ 47		8	$ 13
Tax benefit due to prior period adjustments				8
Tax expense related to change in status of certain entities				27
Excess tax expense, share-based payment arrangement				8	15
Tax due to adoption of CARES Act				5
Tax benefits for impairment of intangible assets			$ 246
Tax benefit for expirations of uncertain tax positions			74
Federal return to provision adjustments			$ 32
Tax benefit for state and local income tax adjustments					10
Change in foreign tax status adjustment				$ 23	14
Swiss Federal Tax Administration
Income Tax Contingency [Line Items]
Withholding tax refund					$ 13
Minimum \| Internal Revenue Service \| 2018 Tax Year
Income Tax Contingency [Line Items]
Unrecognized income tax expense due to change in tax regulations	$ 180
Maximum \| Internal Revenue Service \| 2018 Tax Year
Income Tax Contingency [Line Items]
Unrecognized income tax expense due to change in tax regulations	$ 220

Leases - Schedule of Consolidated Balance Sheet Related To Leases (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Assets
Operating lease assets, net	$ 543	$ 615
Finance lease assets, net	11	15
Total lease assets	554	630
Current
Operating lease, current liabilities	131	132
Finance lease, current liabilities	3	3
Noncurrent
Operating lease, noncurrent liabilities	485	541
Finance lease, noncurrent liabilities	6	10
Total lease liabilities	$ 625	$ 686

Leases - Schedule of Consolidated Balance Sheet Related To Leases (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Asset impairment charges		$ 1,500	$ 12	$ 12
Net of accumulated amortization					$ 11	$ 8
Home Solutions
Lessee, Lease, Description [Line Items]
Asset impairment charges	$ 5	3
Corporate
Lessee, Lease, Description [Line Items]
Asset impairment charges		$ 2

Leases - Schedule of Consolidated Statement Of Operation Related To Leases (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating lease cost:
Operating lease cost	$ 45	$ 49	$ 137	$ 156
Variable lease costs	6	6	17	19
Finance lease cost:
Amortization of leased assets	$ 1	$ 1	$ 3	$ 3

Leases - Schedule Of Remaining Lease Term and Discount Rates (Detail)	Sep. 30, 2020
Weighted average remaining lease term (years):
Operating leases	6 years
Finance leases	3 years
Weighted average discount rate:
Operating leases	4.30%
Finance leases	3.40%

Leases - Schedule Of Supplemental Cash Flow Related To Leases (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 133	$ 153
Operating cash flows from finance leases	0	1
Financing cash flows from finance leases	3	3
Right of use assets obtained in exchange for lease liabilities:
Operating leases	53	124
Finance leases	$ 0	$ 7

Leases - Schedule Of Maturities Of Lease Liabilities (Detail) $ in Millions	Sep. 30, 2020 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2020 (Excludes nine months ended September 30, 2020)	$ 42
2021	152
2022	130
2023	97
2024	76
Thereafter	220
Total lease payments	717
Less: imputed interest	(101)
Present value of lease liabilities	616
Finance Lease, Liability, Payment, Due [Abstract]
2020 (Excludes nine months ended September 30, 2020)	1
2021	4
2022	3
2023	1
2024	0
Thereafter	0
Total lease payments	9
Less: imputed interest	0
Present value of lease liabilities	$ 9

Earnings Per Share - Schedule of Computations of Weighted Average Shares Outstanding (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Weighted average shares outstanding (in shares)	424.3	423.4	424.1	423.2
Share-based payment awards classified as participating securities (in shares)	0.0	0.0	0.0	0.1
Basic weighted average shares outstanding (in shares)	424.3	423.4	424.1	423.3
Dilutive securities (in shares)	1.1	0.0	0.0	0.0
Diluted weighted average shares outstanding (in shares)	425.4	423.4	424.1	423.3

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restricted Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Potentially dilutive restricted share awards excluded from computation of diluted EPS (in shares)		0
Restricted Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Potentially dilutive restricted share awards excluded from computation of diluted EPS (in shares)	400,000	900,000	400,000

Share-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share repurchase program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends per share (in USD per share)	$ 0.23	$ 0.69
Performance based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award grants in period (in shares)	1.3
Aggregate grant date fair value of stock-based compensation arrangement	$ 29
Share-based awards vesting period	3 years
Time-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award grants in period (in shares)	0.7
Aggregate grant date fair value of stock-based compensation arrangement	$ 13
Share-based awards vesting period	3 years
Time-based stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award grants in period (in shares)	1.1
Aggregate grant date fair value of stock-based compensation arrangement	$ 6
Share-based awards vesting period	3 years

Share-Based Compensation - Fair Value Assumptions for Stock Options (Details) - Employee Stock Option	9 Months Ended
	Sep. 30, 2020 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rates	1.40%
Expected volatility	41.30%
Expected dividend yield	3.90%
Expected life (in years)	6 years 2 months 12 days
Exercise price (in usd per share)	$ 19.67

Fair Value Disclosures - Summary of Non-Pension Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 24	$ 13
Liabilities	(48)	(18)
Fair Value Measurements on Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	24	13
Liabilities	(48)	(18)
Investment securities, including mutual funds	8	11
Level 1 \| Fair Value Measurements on Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Investment securities, including mutual funds	8	10
Level 2 \| Fair Value Measurements on Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	24	13
Liabilities	(48)	(18)
Investment securities, including mutual funds	0	1
Level 3 \| Fair Value Measurements on Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Investment securities, including mutual funds	$ 0	$ 0

Fair Value Disclosures - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investment				$ 18
Equity method investment at fair value		$ 8
Other Operating Income (Expense)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized fair value (gains) losses on equity securities	$ 1	$ 1	$ 7

Fair Value Disclosures - Level 3 Fair Value, Nonrecurring (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indefinite-lived intangible assets	$ 796	$ 1,365

Segment Information - Additional Information (Detail) - segment	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Sep. 30, 2020
Segment Reporting [Abstract]
Number of separate operating segments (in segments)	2
Number of primary reportable segments (in segments)		5

Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 2,699.0	$ 2,569.0	$ 6,696.0	$ 7,091.0
Operating income (Loss)	363.0	(857.0)	(882.0)	(614.0)
Segment assets	14,720.0		14,720.0		$ 15,642.0
Impairment of goodwill and indefinite-lived intangible assets	2.0	1,071.0	1,471.0	1,145.0
Appliances and Cookware
Segment Reporting Information [Line Items]
Net sales	479.0	430.0	1,129.0	1,122.0
Operating income (Loss)	32.0	(595.0)	(266.0)	(593.0)
Segment assets	1,204.0		1,204.0		1,468.0
Impairment of goodwill and indefinite-lived intangible assets	0.0	609.0	299.0	609.0
Commercial Solutions
Segment Reporting Information [Line Items]
Net sales	535.0	475.0	1,361.0	1,343.0
Operating income (Loss)	84.0	(216.0)	(148.0)	(171.0)
Segment assets	2,534.0		2,534.0		2,731.0
Impairment of goodwill and indefinite-lived intangible assets	0.0	236.0	320.0	310.0
Home Solutions
Segment Reporting Information [Line Items]
Net sales	574.0	484.0	1,276.0	1,227.0
Operating income (Loss)	112.0	(112.0)	(150.0)	(113.0)
Segment assets	3,142.0		3,142.0		3,327.0
Impairment of goodwill and indefinite-lived intangible assets	0.0	158.0	290.0	158.0
Learning and Development
Segment Reporting Information [Line Items]
Net sales	728.0	824.0	1,887.0	2,254.0
Operating income (Loss)	159.0	182.0	290.0	488.0
Segment assets	5,128.0		5,128.0		4,800.0
Impairment of goodwill and indefinite-lived intangible assets	2.0	1.0	80.0	1.0
Outdoor and Recreation
Segment Reporting Information [Line Items]
Net sales	383.0	356.0	1,043.0	1,145.0
Operating income (Loss)	40.0	(41.0)	(409.0)	11.0
Segment assets	1,108.0		1,108.0		1,570.0
Impairment of goodwill and indefinite-lived intangible assets	0.0	67.0	482.0	67.0
Corporate
Segment Reporting Information [Line Items]
Operating income (Loss)	(60.0)	(72.0)	(185.0)	(214.0)
Segment assets	1,604.0		1,604.0		$ 1,746.0
Restructuring \| Restructuring
Segment Reporting Information [Line Items]
Operating income (Loss)	$ (4.0)	$ (3.0)	$ (14.0)	$ (22.0)

Litigation and Contingencies - Additional Information (Detail) $ / shares in Units, shares in Millions, $ in Millions									1 Months Ended	3 Months Ended	9 Months Ended
	Oct. 04, 2019 USD ($)	Jul. 26, 2019 $ / shares	Jul. 19, 2019 USD ($) $ / shares	Jul. 06, 2017 USD ($) shares	Jul. 06, 2017 USD ($) shareholder $ / shares shares	Aug. 12, 2016 shareholder	Jul. 08, 2016 shareholder	Jun. 14, 2016 shareholder	Sep. 30, 2016 USD ($)	Dec. 31, 2016 Recipient	Sep. 30, 2020 USD ($) lawsuit entity Recipient alternative mi	Aug. 07, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 party	Oct. 03, 2016 shares
Loss Contingencies [Line Items]
Number of securities action lawsuits (in lawsuits) \| lawsuit											2
Number of dissenting shareholders (in shareholders) \| shareholder					11	2	2	10
Share conversion ratio upon merger				86.20%	86.20%
Business acquisition, equity interest issued or issuable, number of shares (in shares) \| shares					6.6
Issue of common stock to settling petitioners				$ 162.0	$ 162.0
Settlement amount			$ 140.0
Number Of PRPs (in recipients) \| Recipient										20
Litigation settlement, paid to other party	$ 177.0
Reduction in net revenue due to return authorization notice											$ 22.0
Inventory recall, recovery amount											2.0
Environmental remediation expense											$ 43.0
Number of general notice letter recipients \| entity											100
Number of remediation alternatives \| alternative											4
Miles of river included in the remedial investigation and feasibility study \| mi											8.3
Standby letters of credit outstanding											$ 49.0
Minimum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss											1.0
Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss											$ 2.0
Jarden Acquisition
Loss Contingencies [Line Items]
Number of shares holding by dissenting shareholders (in shares) \| shares				2.9	2.9										10.6
Number of common stock transferred on settlement (in shares) \| shares					7.7
Litigation settlement, awarded to other party (in USD per share) \| $ / shares		$ 59.21	$ 48.31		$ 21.00
Assumed acquisition price				$ 171.0
Operating cash flow related to business combination				$ 6.0
Lower Passaic River Matter
Loss Contingencies [Line Items]
Number of general notice letter recipients involved in remedial investigation and feasibility study \| Recipient											72
Loss contingency estimated period											30 years
Number of parties sued (in parties) \| party														120
Lower Passaic River Matter \| Minimum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss											$ 315.0
Lower Passaic River Matter \| Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss											3,200.0
Lower Passaic River Matter - Preferred Alternative
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss											1,700.0
Lower Passaic River Matter - Preferred Alternative Maintenance Costs
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss											$ 2.0
Lower Passaic River Matter - Alternative Range from Participating Parties
Loss Contingencies [Line Items]
Miles of river included in the remedial investigation and feasibility study \| mi											9
Lower Passaic River Matter - Alternative Range from Participating Parties \| Minimum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss												$ 321.0	$ 28.0
Lower Passaic River Matter - Alternative Range from Participating Parties \| Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss												$ 468.0	$ 2,700.0
Lower Passaic River Matter - Selected Remedy for the Preferred Alternative
Loss Contingencies [Line Items]
Settlement amount									$ 0.3		$ 1,400.0
Lower half of river
Loss Contingencies [Line Items]
Miles of river included in the remedial investigation and feasibility study \| mi											17