WHIRLPOOL CORP DE

(5)GOODWILL AND OTHER INTANGIBLES

The following table summarizes the goodwill attributable to our historical reporting units as of December 31, 2022 and December 31, 2023:

(1)Increase in goodwill is related to a measurement period adjustment for the InSinkErator acquisition that occurred in 2022. For additional information, see Note 16 to the Consolidated Financial Statements.

As of January 1, 2024, we reorganized our operating segments. As a result, goodwill balances were reallocated based on the relative fair value of our new segments. The following table summarizes the reallocated goodwill balances:

See Note 15 to the Consolidated Financial Statements for additional information on the operating segment change.

Annual impairment assessment

We completed our annual impairment assessment for goodwill as of October 1, 2024 The Company elected to bypass the qualitative assessment and perform a quantitative assessment to evaluate goodwill for all our reporting units. Based on the quantitative assessment we determined there was no impairment of goodwill. For additional information, see Note 10 to the Consolidated Financial Statements.

We completed our annual impairment assessment for goodwill as of October 1, 2023. The Company performed a qualitative assessment for all our reporting units and determined no impairment was indicated.

Interim Impairment assessment - 2022

Based on our interim quantitative impairment assessment as of June 30, 2022, the carrying value of the EMEA reporting unit exceeded its fair value and we recorded a goodwill impairment charge for the full amount of the goodwill's carrying value of $278 million during the second quarter of 2022.

Other Intangible Assets

The following table summarizes other intangible assets for the period presented:

(1)Customer relationships have an estimated useful life of 5 to 18 years.

(2)Patents and other intangibles have an estimated useful life of 3 to 43 years.

(3)Includes InSinkEratorand Maytag trademarks with carrying values of $1.3 billion and $640 million respectively.

Annual impairment assessment

We completed our annual impairment assessment for other intangible assets as of October 1, 2024. The Company elected to bypass the qualitative assessment and perform a quantitative assessment to evaluate certain indefinite-life intangible assets within our MDA North America operating segment. The results of the quantitative assessment determined that the carrying value of our Maytag trademark exceeded its fair value by $381 million. Accordingly, an impairment charge of $381 million was recorded during the fourth quarter of 2024 and was recorded within Impairment of Goodwill and Other Intangibles. The brand has been unfavorably impacted as Whirlpool has refocused its brand strategy to the laundry category. There were no impairments identified for any other intangible assets. For additional information, see Note 10 to the Consolidated Financial Statements.

We completed our annual impairment assessment for other intangible assets as of October 1, 2023. The Company elected to bypass the qualitative assessment and perform a quantitative assessment to evaluate certain indefinite-lived intangible assets. Based on the results of the quantitative assessment, we determined there wasno impairment of intangible assets in 2023.

Interim Impairment assessment - 2022

In the second quarter of 2022, we identified indicators of impairment associated with other intangible assets in our EMEA reporting unit, which required us to complete an interim impairment assessment. Based on that assessment, we determined that the carrying value of certain other intangible assets, including the Indesitand Hotpoint* tradenames, exceeded their fair value, and we recorded an impairment charge of $106 million during the second quarter of 2022.

See Note 10 to the Consolidated Financial Statements for additional information.

Amortization Expense

Amortization expense was $31 million, $40 million and $35 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The following table summarizes our future estimated amortization expense by year: