APi (APG) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-39275
Entity Registrant Name	APi Group Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-1510303
Entity Address, Address Line One	1100 Old Highway 8 NW
Entity Address, City or Town	New Brighton
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55112
City Area Code	651
Local Phone Number	636-4320
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	APG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	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		235,559,170
Entity Central Index Key	0001796209
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 461	$ 605
Accounts receivable, net of allowances of $4 and $3 at September 30, 2023 and December 31, 2022, respectively	1,280	1,313
Inventories	155	163
Contract assets	530	459
Prepaid expenses and other current assets	226	112
Total current assets	2,652	2,652
Property and equipment, net	377	407
Operating lease right of use assets	227	222
Goodwill	2,404	2,382
Intangible assets, net	1,624	1,784
Deferred tax assets	107	108
Pension and post-retirement assets	407	392
Other assets	151	144
Total assets	7,949	8,091
Current liabilities:
Short-term and current portion of long-term debt	256	206
Accounts payable	431	490
Contingent consideration and compensation liabilities	18	27
Accrued salaries and wages	320	337
Contract liabilities	474	463
Operating and finance leases	72	73
Other accrued liabilities	328	325
Total current liabilities	1,899	1,921
Long-term debt, less current portion	2,342	2,583
Pension and post-retirement obligations	37	40
Contingent consideration and compensation liabilities	10	6
Operating and finance leases	170	166
Deferred tax liabilities	340	340
Other noncurrent liabilities	122	111
Total liabilities	4,920	5,167
Commitments and contingencies (Note 15)
Mezzanine equity:
5.5% Series B Redeemable Convertible Preferred Stock, $0.0001 par value, 800,000 authorized shares, 800,000 shares issued and outstanding at September 30, 2023 and December 31, 2022; aggregate liquidation preference of $840	797	797
Shareholders’ equity:
Series A Preferred Stock, $0.0001 par value; 7,000,000 authorized shares; 4,000,000 shares issued and outstanding at September 30, 2023 and December 31, 2022	0	0
Common stock; $0.0001 par value, 500,000,000 authorized shares, 235,146,035 shares and 233,403,912 shares issued at September 30, 2023 and December 31, 2022, respectively (excluding 413,135 and 584,584 shares declared for stock dividend at September 30, 2023 and December 31, 2022, respectively)	0	0
Additional paid-in capital	2,562	2,558
Accumulated deficit	(36)	(164)
Accumulated other comprehensive loss	(294)	(267)
Total shareholders’ equity	2,232	2,127
Total liabilities, redeemable convertible preferred stock, and shareholders’ equity	$ 7,949	$ 8,091
Common stock dividends (in shares)	413,135	584,584

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Accounts receivable, allowance for credit loss	$ 4	$ 3
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	235,146,035	233,403,912
Common stock dividends (in shares)	413,135	584,584
Series A Preferred Stock
Preferred stock, dividend percentage	20%
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	7,000,000	7,000,000
Preferred stock, shares issued (in shares)	4,000,000	4,000,000
Preferred stock, shares outstanding (in shares)	4,000,000	4,000,000
Series B Preferred Stock
Preferred stock, dividend percentage	5.50%	5.50%
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	800,000	800,000
Preferred stock, shares issued (in shares)	800,000	800,000
Preferred stock, shares outstanding (in shares)	800,000	800,000
Aggregate liquidation preference	$ 840	$ 840

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net revenues	$ 1,784	$ 1,735	$ 5,169	$ 4,855
Cost of revenues	1,273	1,295	3,737	3,604
Gross profit	511	440	1,432	1,251
Selling, general, and administrative expenses	407	379	1,148	1,138
Operating income	104	61	284	113
Interest expense, net	37	33	112	88
(Gain) loss on extinguishment of debt, net	0	(5)	3	(5)
Non-service pension benefit	(3)	(10)	(9)	(32)
Investment income and other, net	(4)	(3)	(9)	(5)
Other expense, net	30	15	97	46
Income before income taxes	74	46	187	67
Income tax provision	20	18	59	16
Net income	54	28	128	51
Net income attributable to common shareholders:
Stock dividend on Series B Preferred Stock	(11)	(11)	(33)	(33)
Net income attributable to common shareholders	$ 43	$ 17	$ 95	$ 18
Net income per common share:
Basic (in dollars per share)	$ 0.15	$ 0.06	$ 0.32	$ 0.06
Diluted (in dollars per share)	$ 0.15	$ 0.06	$ 0.32	$ 0.06
Weighted average shares outstanding:
Basic (in shares)	235,418,566	233,605,429	234,996,055	232,982,467
Diluted (in shares)	270,038,322	266,461,754	268,924,096	265,859,817

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 54	$ 28	$ 128	$ 51
Other comprehensive income (loss):
Fair value change - derivatives, net of tax benefit (expense) of $—, $(16), $(2), and $(27), respectively	1	51	7	82
Foreign currency translation adjustment	(63)	(86)	(22)	(311)
Comprehensive income (loss)	$ (8)	$ (7)	$ 113	$ (178)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Tax expense	$ 0	$ (16)	$ (2)	$ (27)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Series B Preferred Stock	Preferred Stock	Common Stock	Common Stock Series A Preferred Stock	Common Stock Series B Preferred Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2021			4,000,000	224,625,193
Beginning balance at Dec. 31, 2021	$ 2,323		$ 0	$ 0			$ 2,560	$ (237)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(7)							(7)
Fair value change - derivatives	9								9
Foreign currency translation adjustment	(59)								(59)
Preferred Stock dividend (in shares)					7,539,697	519,469
Share repurchases (in shares)				(531,431)
Share repurchases	(11)						(11)
Profit sharing plan contributions (in shares)				622,655
Profit sharing plan contributions	15						15
Share-based compensation and other, net (in shares)				413,029
Share-based compensation and other, net	8						8
Ending balance (in shares) at Mar. 31, 2022			4,000,000	233,188,612
Ending balance at Mar. 31, 2022	2,278		$ 0	$ 0			2,572	(244)	(50)
Beginning balance (in shares) at Dec. 31, 2021			4,000,000	224,625,193
Beginning balance at Dec. 31, 2021	2,323		$ 0	$ 0			2,560	(237)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	51
Fair value change - derivatives	82
Foreign currency translation adjustment	(311)
Preferred Stock dividend (in shares)		1,944,939
Ending balance (in shares) at Sep. 30, 2022			4,000,000	233,786,135
Ending balance at Sep. 30, 2022	2,150		$ 0	$ 0			2,565	(186)	(229)
Beginning balance (in shares) at Mar. 31, 2022			4,000,000	233,188,612
Beginning balance at Mar. 31, 2022	2,278		$ 0	$ 0			2,572	(244)	(50)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	30							30
Fair value change - derivatives	22								22
Foreign currency translation adjustment	(166)								(166)
Preferred Stock dividend (in shares)						686,455
Share repurchases (in shares)				(681,329)
Share repurchases	(11)						(11)
Share-based compensation and other, net (in shares)				24,584
Share-based compensation and other, net	3						3
Ending balance (in shares) at Jun. 30, 2022			4,000,000	233,218,322
Ending balance at Jun. 30, 2022	2,156		$ 0	$ 0			2,564	(214)	(194)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	28							28
Fair value change - derivatives	51								51
Foreign currency translation adjustment	(86)								(86)
Preferred Stock dividend (in shares)		739,015				739,015
Share repurchases (in shares)				(738,572)
Share repurchases	(11)						(11)
Share-based compensation and other, net (in shares)				567,370
Share-based compensation and other, net	12						12
Ending balance (in shares) at Sep. 30, 2022			4,000,000	233,786,135
Ending balance at Sep. 30, 2022	2,150		$ 0	$ 0			2,565	(186)	(229)
Beginning balance (in shares) at Dec. 31, 2022			4,000,000	233,403,912
Beginning balance at Dec. 31, 2022	2,127		$ 0	$ 0			2,558	(164)	(267)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	26							26
Fair value change - derivatives	(9)								(9)
Foreign currency translation adjustment	14								14
Gain on dedesignated derivatives amortized from AOCI into income	(4)								(4)
Preferred Stock dividend (in shares)						1,082,877
Share repurchases (in shares)				(541,316)
Share repurchases	(12)						(12)
Profit sharing plan contributions (in shares)				631,194
Profit sharing plan contributions	14						14
Share-based compensation and other, net (in shares)				636,233
Share-based compensation and other, net	9						9
Ending balance (in shares) at Mar. 31, 2023			4,000,000	235,212,900
Ending balance at Mar. 31, 2023	2,165		$ 0	$ 0			2,569	(138)	(266)
Beginning balance (in shares) at Dec. 31, 2022			4,000,000	233,403,912
Beginning balance at Dec. 31, 2022	2,127		$ 0	$ 0			2,558	(164)	(267)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	128
Fair value change - derivatives	7
Foreign currency translation adjustment	(22)
Preferred Stock dividend (in shares)		935,285
Ending balance (in shares) at Sep. 30, 2023			4,000,000	235,146,035
Ending balance at Sep. 30, 2023	2,232		$ 0	$ 0			2,562	(36)	(294)
Beginning balance (in shares) at Mar. 31, 2023			4,000,000	235,212,900
Beginning balance at Mar. 31, 2023	2,165		$ 0	$ 0			2,569	(138)	(266)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	48							48
Fair value change - derivatives	15								15
Foreign currency translation adjustment	27								27
Gain on dedesignated derivatives amortized from AOCI into income	(4)								(4)
Preferred Stock dividend (in shares)						436,992
Share repurchases (in shares)				(428,688)
Share repurchases	(11)						(11)
Share-based compensation and other, net (in shares)				49,201
Share-based compensation and other, net	7						7
Ending balance (in shares) at Jun. 30, 2023			4,000,000	235,270,405
Ending balance at Jun. 30, 2023	2,247		$ 0	$ 0			2,565	(90)	(228)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	54							54
Fair value change - derivatives	1								1
Foreign currency translation adjustment	(63)								(63)
Gain on dedesignated derivatives amortized from AOCI into income	(4)								(4)
Preferred Stock dividend (in shares)		413,135
Share repurchases (in shares)				(656,489)
Share repurchases	(18)						(18)
Share-based compensation and other, net (in shares)				532,119
Share-based compensation and other, net	15						15
Ending balance (in shares) at Sep. 30, 2023			4,000,000	235,146,035
Ending balance at Sep. 30, 2023	$ 2,232		$ 0	$ 0			$ 2,562	$ (36)	$ (294)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 128	$ 51
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	59	60
Amortization	167	165
Restructuring charges, net of cash paid	17	12
Deferred taxes	5	(9)
Share-based compensation expense	19	14
Profit-sharing expense	14	10
Non-cash lease expense	55	49
Net periodic pension benefit	(9)	(32)
(Gain) loss on extinguishment of debt, net	3	(5)
Other, net	3	13
Pension contributions	(3)	(27)
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable	23	(104)
Contract assets	(78)	(134)
Inventories	2	(25)
Prepaid expenses and other current assets	(62)	(25)
Accounts payable	(47)	68
Accrued liabilities and income taxes payable	(27)	(6)
Contract liabilities	9	46
Other assets and liabilities	(61)	(39)
Net cash provided by operating activities	217	82
Cash flows from investing activities:
Acquisitions, net of cash acquired	(57)	(2,881)
Purchases of property and equipment	(64)	(60)
Proceeds from sales of property and equipment	13	10
Net cash used in investing activities	(108)	(2,931)
Cash flows from financing activities:
Proceeds from long-term borrowings	0	1,104
Payments on long-term borrowings	(206)	(33)
Repurchases of long-term borrowings	0	(30)
Payments of debt issuance costs	0	(25)
Repurchases of common stock	(41)	(33)
Proceeds from equity issuances	0	797
Payments of acquisition-related consideration	(4)	(6)
Restricted shares tendered for taxes	(2)	(1)
Net cash (used in) provided by financing activities	(253)	1,773
Effect of foreign currency exchange rate change on cash, cash equivalents, and restricted cash	(1)	(17)
Net decrease in cash, cash equivalents, and restricted cash	(145)	(1,093)
Cash, cash equivalents, and restricted cash, beginning of period	607	1,491
Cash, cash equivalents, and restricted cash, end of period	462	398
Supplemental cash flow disclosures:
Cash paid for interest	119	81
Cash paid for income taxes, net of refunds	70	24
Accrued consideration issued in business combinations	5	1
Shares of common stock issued to profit sharing plan	$ 14	$ 13

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Nature of business APi Group Corporation (the “Company” or “APG”) is a global, market-leading business services provider of safety and specialty services in over 500 locations worldwide. Principles of consolidation The accompanying interim unaudited condensed consolidated financial statements (the “Interim Statements”) include the accounts of the Company and of its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. These Interim Statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements. The condensed consolidated balance sheets as of December 31, 2022, were derived from audited financial statements for the year then ended but do not include all of the information and footnotes required by U.S. GAAP with respect to annual financial statements. In the opinion of management, the Interim Statements include all adjustments (including normal recurring accruals) necessary for a fair presentation of the Company’s consolidated financial position, results of operations, and cash flows for the dates and periods presented. It is recommended that these Interim Statements be read in conjunction with the Company’s audited annual consolidated financial statements and accompanying footnotes thereto for the year ended December 31, 2022. Results for interim periods are not necessarily indicative of the results to be expected for a full fiscal year or for any future period. Cash, cash equivalents, and restricted cash The Company considers all highly liquid investments purchased with an original maturity date of three months or less to be cash equivalents. Restricted cash is reported as other current assets in the condensed consolidated balance sheets. Restricted cash reflects collateral against certain bank guarantees. Investments The Company holds investments in joint ventures, the majority of which are accounted for under the equity method of accounting as the Company does not exercise control over the joint ventures. The Company exercises control over one joint venture that is consolidated into the Company's financial statements and the results for that joint venture for the three and nine months ended September 30, 2023 were immaterial. The Company’s share of earnings from the non-consolidated joint ventures was $1 and $2 during the three months ended September 30, 2023 and 2022, respectively, and $5 and $3 during the nine months ended September 30, 2023 and 2022, respectively. The earnings are recorded within investment income and other, net in the condensed consolidated statements of operations. The investment balances were $6 and $4 as of September 30, 2023 and December 31, 2022, respectively, and are recorded within other assets in the condensed consolidated balance sheets.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS See the discussion below for information pertaining to the effects of recent accounting pronouncements as updated from the discussion in the Company’s 2022 audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed on March 1, 2023. In August 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-05, Business Combinations— Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement , which requires that a joint venture apply a new basis of accounting upon formation. As a result, a newly formed joint venture would initially measure its assets and liabilities at fair value. ASU 2023-05 is effective for joint ventures with a formation date on or after January 1, 2025, with early adoption permitted. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements, but does not expect the impact to be material. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, which incorporates certain SEC disclosure requirements into the FASB Accounting Standards Codification. This update will improve disclosure and presentation requirements of a variety of topics and align the requirements in the FASB codification with the SEC’s regulations. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements, but does not expect the impact to be material.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	BUSINESS COMBINATIONS The Company regularly evaluates potential acquisitions that strategically fit with the Company’s existing portfolio or expand the Company’s portfolio into a new and attractive business area. Acquisitions are accounted for as business combinations using the acquisition method of accounting. As such, the Company makes a preliminary allocation of the purchase price to the tangible assets, identifiable intangible assets acquired, and liabilities assumed. In the months after closing, as the Company obtains additional information about the acquired assets and liabilities and learns more about the newly acquired business, it is able to refine the estimates of fair value and more accurately allocate the purchase price. The purchase price is allocated to acquired assets and liabilities assumed based upon their estimated fair values, with limited exceptions as permitted pursuant to U.S. GAAP, as determined based on estimates and assumptions deemed reasonable by the Company. The Company engages third-party valuation specialists to assist with the preparation of critical assumptions and calculations of the fair value of acquired tangible and intangible assets in connection with significant acquisitions. The excess of the purchase price over the tangible and intangible assets acquired and liabilities assumed is recorded as goodwill. Goodwill is attributable to the workforce of the acquired businesses, the complementary strategic fit and resulting synergies these businesses bring to existing operations, and the opportunities in new markets expected to be achieved from the expanded platform. 2023 Acquisitions The Company completed an acquisition included within the Safety Services segment on June 30, 2023 ("Acquisition A23"). Consideration for Acquisition A23 included cash paid at closing of $30, cash deposited into escrow for future deferred payments of $5, and accrued consideration of $3. The results of operations of this acquisition are included in the Company’s condensed consolidated statements of operations from the date of acquisition. During the nine months ended September 30, 2023, the Company completed four individually immaterial acquisitions for aggregate consideration transferred of $24, made up of cash paid at closing of $22 and accrued consideration of $2. The results of operations of these acquisitions are included in the Company’s condensed consolidated statement of operations from their respective dates of acquisition and were not material. The Company has not finalized its accounting for the acquisitions and will make appropriate adjustments to the purchase price allocation prior to completion of the measurement periods, as required. Based on preliminary estimates, the total amount of goodwill from acquisitions expected to be deductible for tax purposes is $38. The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the dates of acquisition: Acquisition A23 Other 2023 acquisitions Cash paid at closing $ 30 $ 22 Cash deposited into escrow 5 — Accrued consideration 3 2 Total net consideration $ 38 $ 24 Accounts receivable $ 8 $ — Contract assets 1 — Intangible assets 13 5 Goodwill 20 19 Accounts payable (1) — Contract liabilities (3) — Net assets acquired $ 38 $ 24 2022 Chubb Acquisition During 2022, the Company completed its acquisition of the Chubb fire and security business (the "Chubb Acquisition"). The Chubb fire and security business (the "Chubb business" or "Chubb") is a globally recognized fire safety and security services provider, offering customers complete and reliable services from design and installation to monitoring and on-going maintenance and recurring services. The Chubb business is headquartered in the United Kingdom, and has operations in 17 countries, expanding the Company's geographic footprint to a total of over 20 countries. The results of the Chubb business are reported within the Company's Safety Services segment. Based on U.S. income tax principles related to acquisitions of non-U.S. entities, none of the total amount of goodwill is deductible for U.S. income tax purposes. The following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of the Chubb Acquisition: Cash paid at closing $ 2,935 Working capital and net indebtedness adjustment (42) Total net consideration $ 2,893 Cash $ 60 Accounts receivable 426 Inventories 68 Contract assets 183 Other current assets 25 Property and equipment 73 Operating lease right of use assets 146 Pension and post-retirement assets 626 Other noncurrent assets 8 Intangible assets 1,200 Goodwill 1,367 Accounts payable (192) Contract liabilities (162) Accrued expenses (255) Finance and operating lease liabilities (148) Pension and post-retirement obligations (56) Deferred tax liabilities (383) Other noncurrent liabilities (93) Net assets acquired $ 2,893 Accrued consideration The Company’s acquisition purchase agreements typically include deferred payment provisions, often to sellers who become employees of the Company or its subsidiaries. The provisions are made up of three general types of arrangements, contingent compensation and contingent consideration (both of which are contingent on the future performance of the acquired entity) and deferred payments related to indemnities. Contingent compensation arrangements are typically contingent on the former owner’s future employment with the Company, and the related amounts are recognized over the required employment period, which is typically one one one The total contingent compensation arrangement liability was $7 and $19 at September 30, 2023, and December 31, 2022, respectively. The maximum payout of these arrangements upon completion of the future performance periods was $15 and $25, inclusive of the $7 and $19, accrued as of September 30, 2023, and December 31, 2022, respectively. The contingent compensation liability is included in contingent consideration and compensation liabilities in the condensed consolidated balance sheets for all periods presented. The Company primarily determines the contingent compensation liability based on forecasted cumulative earnings compared to the cumulative earnings target set forth in the arrangement. Compensation expense associated with these arrangements is recognized ratably over the required employment period. The contingent consideration obligations are measured at fair value each reporting period and changes in estimates of fair value are recognized in earnings. For additional considerations regarding the fair value of the Company's contingent consideration liabilities, see Note 8 - "Fair Value of Financial Instruments." The total liability for deferred payments was $14 and $9 at September 30, 2023 and December 31, 2022, respectively, and is included in contingent consideration and compensation liabilities in the condensed consolidated balance sheets for all periods presented.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	9 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Assets Held For Sale	ASSETS HELD FOR SALE During the three months ended September 30, 2023, the Company determined its intent to sell an infrastructure/utility operating company in its Specialty Services segment (the "Operating Company"), and classified the net book value of the Operating Company as held for sale in the condensed consolidated balance sheets. As of September 30, 2023, the Operating Company remains classified as held for sale. Pursuant to the authoritative literature, the Company evaluated the recoverability of the carrying value of the assets and liabilities held for sale. During the three months ended September 30, 2023, the Company recorded an impairment charge of $13 in selling, general, and administrative expenses in the condensed consolidated statements of operations related to impairment of goodwill, intangible assets, and other assets. The following table presents information related to the major classes of assets recorded in prepaid expenses and other current assets and liabilities recorded in other accrued liabilities that were classified as held for sale in the condensed consolidated balance sheets: September 30, 2023 Accounts receivable $ 14 Inventories 2 Contract assets 6 Property and equipment, net 27 Operating lease right of use assets 2 Accounts payable (8) Other current liabilities (3) Noncurrent operating and finance leases (3) Total assets and liabilities held for sale $ 37 On October 3, 2023, the Company entered into a definitive agreement to sell the Operating Company for $37. The sale is expected to close before December 31, 2023.

RESTRUCTURING

RESTRUCTURING	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING During 2022, the Company announced its multi-year Chubb restructuring program designed to drive efficiencies and synergies and optimize operating margin. The Chubb restructuring program includes expenses related to workforce reductions, lease termination costs, and other facility rationalization costs through fiscal year 2024. During the nine months ended September 30, 2023, the Company incurred pre-tax restructuring costs within the Safety Services segment of $21 in connection with the Chubb restructuring program. Since the Chubb Acquisition, the Company has incurred aggregate restructuring costs of $51. As of September 30, 2023, the Company had $23 in restructuring liabilities recorded in other accrued liabilities on the condensed consolidated balance sheets for this plan. In total, the Company estimates that it will recognize approximately $105 of restructuring costs related to the Chubb restructuring program by the end of fiscal year 2024. For the restructuring program, employee-related costs consist of termination benefits provided to employees who have been involuntarily terminated and voluntary early retirement benefits. Program related costs include costs incurred as a direct result of the restructuring program such as consulting fees and facility relocation costs. The following table summarizes the Company's restructuring program for the nine months ended September 30, 2023 and 2022: Employee termination benefits Program related costs Asset write-downs Total December 31, 2022 $ 22 $ — $ — $ 22 Charges 21 1 4 26 Payments (18) — — (18) Reversals (1) — — (1) Currency translation adjustment (1) — — (1) September 30, 2023 $ 23 $ 1 $ 4 $ 28 Employee termination benefits Program related costs Asset write-downs Total December 31, 2021 $ — $ — $ — $ — Charges 18 — — 18 Payments (6) — — (6) Currency translation adjustment (1) — — (1) September 30, 2022 $ 11 $ — $ — $ 11

NET REVENUES

NET REVENUES	9 Months Ended
	Sep. 30, 2023
Revenues [Abstract]
Net Revenues	NET REVENUES Contracts with customers The Company derives net revenues primarily from contracts with a duration of less than one week to three years (with the majority of contracts with durations of less than six months), which are subject to multiple pricing options, including fixed price, unit price, time and material, or cost plus a markup. Net revenues are primarily recognized by the Company over time utilizing the cost-to-cost measure of progress. Net revenues recognized at a point in time primarily relate to distribution contracts and short-term time and material contracts. The Company also enters into fixed-price service contracts related to monitoring, maintenance, and inspection of safety systems. The Company disaggregates its net revenues primarily by segment, service type, and country from which revenues are invoiced, as the nature, timing, and uncertainty of cash flows are relatively consistent within each of these categories. The following tables provide disclosure of disaggregated net revenues by segment for the three and nine months ended September 30, 2023, and 2022. During 2023, the Company moved an immaterial business component within the Safety Services segment from the HVAC to the Life Safety reporting unit, and prior period amounts in this table have been recast to reflect the current period presentation. Disaggregated net revenues information is as follows: Three Months Ended September 30, 2023 Safety Specialty Consolidated Life Safety $ 1,084 $ — $ 1,084 Heating, Ventilation, and Air Conditioning ("HVAC") 133 — 133 Infrastructure/Utility — 360 360 Fabrication — 42 42 Specialty Contracting — 167 167 Corporate and Eliminations — — (2) Net revenues $ 1,217 $ 569 $ 1,784 Three Months Ended September 30, 2022 Safety Specialty Consolidated Life Safety $ 1,021 $ — $ 1,021 HVAC 133 — 133 Infrastructure/Utility — 341 341 Fabrication — 87 87 Specialty Contracting — 162 162 Corporate and Eliminations — — (9) Net revenues $ 1,154 $ 590 $ 1,735 Nine Months Ended September 30, 2023 Safety Specialty Consolidated Life Safety $ 3,250 $ — $ 3,250 HVAC 383 — 383 Infrastructure/Utility — 907 907 Fabrication — 155 155 Specialty Contracting — 492 492 Corporate and Eliminations — — (18) Net revenues $ 3,633 $ 1,554 $ 5,169 Nine Months Ended September 30, 2022 Safety Specialty Consolidated Life Safety $ 3,003 $ — $ 3,003 HVAC 371 — 371 Infrastructure/Utility — 849 849 Fabrication — 194 194 Specialty Contracting — 477 477 Corporate and Eliminations — — (39) Net revenues $ 3,374 $ 1,520 $ 4,855 Three Months Ended September 30, 2023 Safety Specialty Corporate and Consolidated United States $ 595 $ 559 $ (2) $ 1,152 France 140 — — 140 Other 482 10 — 492 Net revenues $ 1,217 $ 569 $ (2) $ 1,784 Three Months Ended September 30, 2022 Safety Specialty Corporate and Consolidated United States $ 568 $ 565 $ (9) $ 1,124 France 125 — — 125 Other 461 25 — 486 Net revenues $ 1,154 $ 590 $ (9) $ 1,735 Nine Months Ended September 30, 2023 Safety Specialty Corporate and Consolidated United States $ 1,738 $ 1,525 $ (18) $ 3,245 France 446 — — 446 Other 1,449 29 — 1,478 Net revenues $ 3,633 $ 1,554 $ (18) $ 5,169 Nine Months Ended September 30, 2022 Safety Specialty Corporate and Consolidated United States $ 1,576 $ 1,481 $ (39) $ 3,018 France 417 — — 417 Other 1,381 39 — 1,420 Net revenues $ 3,374 $ 1,520 $ (39) $ 4,855 For in-process contracts, the aggregate amount of transaction price allocated to the unsatisfied performance obligations at September 30, 2023 was $2,732. The Company expects to recognize revenue on approximately 87% of the remaining performance obligations over the next twelve months. Contract assets and liabilities Contract assets and contract liabilities are classified as current in the condensed consolidated balance sheets as all amounts are expected to be relieved within one year. The balances of accounts receivable, net of allowances, contract assets, and contract liabilities from contracts with customers as of September 30, 2023 and December 31, 2022 are as follows: Accounts Contract Contract Balance at September 30, 2023 $ 1,280 $ 530 $ 474 Balance at December 31, 2022 1,313 459 463 The Company did not recognize significant revenues associated with the final settlement of contract value for any projects completed in prior periods. In accordance with industry practice, accounts receivable includes retentions receivable, a portion of which may not be received within one year. At September 30, 2023 and December 31, 2022, retentions receivable were $159 and $150, respectively, while the portions that may not be received within one year were $27 and $35, respectively.

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	GOODWILL AND INTANGIBLES Goodwill The following table provides disclosure of goodwill by segment as of September 30, 2023 and December 31, 2022. The changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2023 are as follows: Safety Specialty Total Goodwill as of December 31, 2022 $ 2,201 $ 181 $ 2,382 Acquisitions 39 — 39 Impairment of goodwill (1) — (4) (4) Foreign currency translation (13) — (13) Goodwill as of September 30, 2023 $ 2,227 $ 177 $ 2,404 (1) During the three months ended September 30, 2023, the Company determined its intent to sell the Operating Company (see Note 4 – “Assets Held for Sale”). Pursuant to the authoritative literature, the Company evaluated the recoverability of the carrying value of the assets and liabilities held for sale and recorded a goodwill impairment charge of $4. Intangibles The Company’s identifiable intangible assets are comprised of the following as of September 30, 2023 and December 31, 2022: September 30, 2023 Weighted Average Remaining Gross Accumulated Net Carrying Amortized intangibles: Contractual backlog 0.3 $ 154 $ (146) $ 8 Customer relationships 9.5 1,513 (477) 1,036 Trade names and trademarks 12.4 702 (122) 580 Total $ 2,369 $ (745) $ 1,624 December 31, 2022 Weighted Average Remaining Gross Accumulated Net Carrying Amortized intangibles: Contractual backlog 0.9 $ 153 $ (126) $ 27 Customer relationships 10.0 1,508 (367) 1,141 Trade names and trademarks 13.2 704 (88) 616 Total $ 2,365 $ (581) $ 1,784 Amortization expense recognized on identifiable intangible assets is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenues $ 7 $ 15 $ 20 $ 22 Selling, general, and administrative expenses 49 36 147 143 Total intangible asset amortization expense $ 56 $ 51 $ 167 $ 165

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS U.S. GAAP defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance discusses valuation techniques such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). These valuation techniques are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. As the basis for evaluating such inputs, a three-tier value hierarchy prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets. Level 2: Observable inputs other than quoted prices that are directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets; quoted prices for similar or identical assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3: Unobservable inputs that reflect the Company's own assumptions. Recurring fair value measurements The Company’s financial assets and liabilities (adjusted to fair value at least quarterly) are derivative instruments and contingent consideration obligations. In the condensed consolidated balance sheets, derivative instruments are primarily included in other noncurrent assets and other noncurrent liabilities, and contingent consideration obligations are primarily included in contingent consideration and compensation liabilities. The following tables summarize the fair values and levels within the fair value hierarchy in which the measurements fall for assets and liabilities measured on a recurring basis as of September 30, 2023 and December 31, 2022: Fair Value Measurements at September 30, 2023 Financial assets: Level 1 Level 2 Level 3 Total Derivatives designated as hedge instruments Cash flow hedges - interest rate swaps $ — $ 36 $ — $ 36 Cash flow hedges - cross currency contracts — 15 — 15 Cash flow hedges - foreign currency forward contracts — — — — Net investment hedges - cross currency contracts — 27 — 27 Fair value hedges - cross currency contracts — 47 — 47 Derivatives not designated as hedge instruments Foreign currency forward contracts — 1 — 1 Total $ — $ 126 $ — $ 126 Financial liabilities: Derivatives not designated as hedge instruments Foreign currency forward contracts — (1) — (1) Contingent consideration obligations — — (6) (6) Total $ — $ (1) $ (6) $ (7) Fair Value Measurements at December 31, 2022 Financial assets: Level 1 Level 2 Level 3 Total Derivatives designated as hedge instruments Cash flow hedges - interest rate swaps $ — $ 14 $ — $ 14 Cash flow hedges - cross currency contracts — 17 — 17 Cash flow hedges - foreign currency forward contracts — — — — Net investment hedges - cross currency contracts — 32 — 32 Fair value hedges - cross currency contracts — 50 — 50 Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Total $ — $ 113 $ — $ 113 Financial liabilities: Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Contingent consideration obligations — — (4) (4) Total $ — $ — $ (4) $ (4) The Company determines the fair value of its derivative instruments designated as hedge instruments using standard pricing models and market-based assumptions for all inputs such as yield curves and quoted spot and forward exchange rates. Accordingly, the Company’s derivative instruments are classified as Level 2. Contingent consideration obligations The value of the contingent consideration obligations is determined using a probability-weighted discounted cash flow method. This fair value measurement is based on unobservable inputs in the market and thus represents a Level 3 measurement within the fair value hierarchy. This analysis reflects the contractual terms of the purchase agreements (e.g., potential payment amounts, length of measurement periods, manner of calculating any amounts due) and utilizes assumptions with regard to future cash flows, probabilities of achieving such future cash flows, and a discount rate. Depending on the contractual terms of the purchase agreement, the probabilities of achieving future cash flows or earnings generally represent the only significant unobservable inputs. The contingent consideration obligations are measured at fair value each reporting period, and changes in estimates of fair value are recognized in earnings. The table below presents a reconciliation of the fair value of the Company’s contingent consideration obligations that use unobservable inputs (Level 3), as well as other information about the contingent consideration obligations: Nine Months Ended, Balance as of December 31, 2022 $ 4 Issuances 3 Settlements (1) Adjustments to fair value — Balance as of September 30, 2023 $ 6 Number of open contingent consideration arrangements at the end of the period 2 Maximum potential payout at the end of the period $ 6 At September 30, 2023, the remaining open contingent consideration arrangements are set to expire at various dates through 2025. Level 3 unobservable inputs were used to calculate the fair value adjustments shown in the table above. The fair value adjustments and the related unobservable inputs were not considered significant for the three and nine months ended September 30, 2023. Fair value estimates The following table presents the carrying amount and fair value of the Company’s term loans and senior notes (instruments defined in Note 11 – “Debt”), including current portions and excluding unamortized debt issuance costs. The fair values are estimated by discounting future cash flows at current interest rates for borrowing arrangements with similar terms and conditions. The inputs used to calculated fair value are considered to be Level 2 inputs under the fair value hierarchy. During the first quarter of 2023, the Company repaid an aggregate amount of $200, $100 to each of the 2019 Term Loan and 2021 Term Loan. September 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value 2019 Term Loan $ 1,027 $ 1,027 $ 1,127 $ 1,120 2021 Term Loan 985 986 1,085 1,075 4.125% Senior Notes 337 285 337 284 4.750% Senior Notes 277 242 277 243 See Note 19 - "Subsequent Events” for a discussion of the October 2023 repricing of the 2019 Term Loan and 2021 Term Loan, extension of the 2019 Term Loan, and partial repayment of the 2019 Term Loan.

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES The Company uses foreign currency forward contracts, cross-currency swaps, and interest rate swap agreements to manage risks associated with foreign currency exchange rates, net investments in foreign operations, and interest rates. The Company does not hold derivative financial instruments of a speculative nature or for trading purposes. The Company records derivatives as assets and liabilities on the condensed consolidated balance sheets at fair value. Changes in fair value are recognized immediately in earnings unless the derivative qualifies and is designated as a hedge under ASC 815, Derivatives and Hedging . Cash flows from derivatives are classified in the condensed consolidated statements of cash flows in the same category as the cash flows from items subject to designated hedge or undesignated (economic) hedge relationships. The Company evaluates hedge effectiveness at inception and on an ongoing basis. If a derivative is no longer expected to be effective, hedge accounting is discontinued. The Company is exposed to credit risk in the event of nonperformance of counterparties for foreign currency forward exchange contracts, cross currency swaps, and interest rate swap agreements. The Company monitors its exposure to credit risk by using credit approvals and credit limits and by selecting major global banks and financial institutions as counterparties. The Company does not enter into derivative transactions for trading purposes, and is not party to any derivatives that require collateral to be posted prior to settlement. Certain of the Company’s derivative transactions are subject to master netting arrangements that allow the Company to net settle contracts with the same counterparties. These arrangements do not call for collateral, and no cash collateral had been received or pledged related to the underlying derivatives as of September 30, 2023. The following table presents the fair value of derivative instruments: September 30, 2023 December 31, 2022 Outstanding Gross Other Assets Other Outstanding Gross Other Assets Other Derivatives designated as hedging instruments: Cash flow hedges: Interest rate swaps $ 1,120 $ 36 $ — $ 1,120 $ 14 $ — Cross currency contracts 120 15 — 120 17 — Foreign currency forward contracts 2 — — — — — Fair value hedges: Cross currency contracts 721 47 — 721 50 — Net investment hedges: Cross currency contracts 230 27 — 230 32 — Total derivatives designated as hedging instruments 2,193 125 — 2,191 113 — Derivatives not designated as hedging instruments: Foreign currency forward contracts 103 1 (1) 118 — — Total derivatives not designated as hedging instruments 103 1 (1) 118 — — Total derivatives $ 2,296 $ 126 $ (1) $ 2,309 $ 113 $ — The following table presents the after tax effect of derivatives on the condensed consolidated statements of operations: Amount of income (expense) recognized in income Derivatives Location of income (expense) Three Months Ended September 30, 2023 2022 Cash flow hedging relationships: Interest rate swaps Interest expense, net $ 8 $ 1 Cross currency contracts Investment income and other, net 3 7 Cross currency contracts Interest expense, net 1 1 Foreign currency forward contracts Investment income and other, net — — Fair value hedging relationships: Cross currency contracts Investment income and other, net 22 49 Cross currency contracts Interest expense, net 1 1 Net investment hedging relationships: Cross currency contracts Interest expense, net 1 1 Not designated as hedging instruments: Foreign currency forward contracts Investment income and other, net — 2 Amount of income (expense) recognized in income Derivatives Location of income (expense) Nine Months Ended September 30, 2023 2022 Cash flow hedging relationships: Interest rate swaps Interest expense, net $ 23 $ (3) Cross currency contracts Investment income and other, net 1 15 Cross currency contracts Interest expense, net 2 2 Foreign currency forward contracts Investment income and other, net — — Fair value hedging relationships: Cross currency contracts Investment income and other, net 1 92 Cross currency contracts Interest expense, net 2 3 Net investment hedging relationships: Cross currency contracts Interest expense, net 3 3 Not designated as hedging instruments: Foreign currency forward contracts Investment income and other, net — 5 Currency Effects The income (expense) from derivatives designed to offset foreign currency exposure and recorded in investment income and other, net were offset by foreign currency transaction gains and losses resulting in a net gain (loss) of $0 for both the three months ended September 30, 2023 and 2022, and $0 and $(2) for the nine months ended September 30, 2023 and 2022, respectively. The following table presents the effect of cash flow and fair value hedge accounting on accumulated other comprehensive income (loss) ("AOCI"): Amount of gain (loss) Location of gain (loss) reclassified from Amount of gain (loss) Three Months Ended September 30, Three Months Ended September 30, Derivatives 2023 2022 2023 2022 Cash flow hedging relationships: Interest rate swaps $ 8 $ 35 Interest expense, net $ 4 $ 1 Cross currency contracts (2) — Investment income and other, net 3 7 Forward currency forward contracts — — Investment income and other, net — — Fair value hedging relationships: Cross currency contracts (7) 6 Investment income and other, net 23 51 Net investment hedging relationships: Cross currency contracts 2 10 Interest expense, net (1) (1) Amount of gain (loss) Location of gain (loss) reclassified from Amount of gain (loss) Nine Months Ended September 30, Nine Months Ended September 30, Derivatives 2023 2022 2023 2022 Cash flow hedging relationships: Interest rate swaps $ 16 $ 54 Interest expense, net $ 12 $ 1 Cross currency contracts (3) 3 Investment income and other, net 1 15 Forward currency forward contracts — — Investment income and other, net — — Fair value hedging relationships: Cross currency contracts (3) 1 Investment income and other, net 1 94 Net investment hedging relationships: Cross currency contracts (3) 25 Interest expense, net — (1) Cash flow hedges For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction affects earnings. Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized in current earnings. Interest rate swaps The Company manages its fixed and floating rate debt mix using interest rate swaps. The Company uses interest rate swap contracts to separate interest rate risk management from the debt funding decision. The Company elected a method that does not require continuous evaluation of hedge effectiveness. During 2022, the Company terminated the previously outstanding $720 notional amount interest rate swap with a maturity date in October 2024 ("2024 Interest Rate Swap"). The present value as of the date of termination of the 2024 Interest Rate Swap is recorded in AOCI on the condensed consolidated balance sheets. The fair value previously recognized in AOCI related to interest rate movements of the 2024 Interest Rate Swap is being amortized to interest expense on a straight-line basis through October 2024. As of September 30, 2023, approximately $18 of unrealized pre-tax gains remained in AOCI. During 2022, the Company entered into an aggregate $720 notional amount interest rate swap ("2026 Interest Rate Swap"), as amended on May 19, 2023 in connection with the transition to the Secured Overnight Financing Rate ("SOFR"). Refer to Note 11 - "Debt" for additional information. The 2026 Interest Rate Swap exchanges a variable rate of interest (SOFR) for an average fixed rate of interest of approximately 3.59% over the term of the agreement, which matures in October 2026. During the first quarter of 2023, the aggregate $400 notional forward-starting swaps became effective ("2028 Interest Rate Swap"), as amended on May 19, 2023 in connection with the transition to SOFR. Refer to Note 11 - "Debt" for additional information. These interest rate swaps exchange a variable rate of interest (SOFR) for an average fixed rate of interest of approximately 3.41% over the term of the agreements, which mature in January 2028. As of September 30, 2023, the Company had $1,120 notional amount outstanding in swap agreements, which includes the aggregate $400 notional 2028 Interest Rate Swap, and the $720 notional 2026 Interest Rate Swap. The Company has designated these swaps as cash flow hedges of the interest rate risk attributable to forecasted variable interest (SOFR) payments for its SOFR based term loans of $2,012. As of September 30, 2023, the weighted average fixed rate of interest on these swaps was approximately 3.52%. Variations in the assets and liability balances are primarily driven by changes in the applicable forward yield curves related to SOFR. Cross-currency swaps The Company enters into cross-currency exchange contracts utilized to hedge against the effect of exchange rate fluctuations on cash flows denominated in foreign currencies and to hedge exposures of certain intercompany loans subject to changes in foreign currency exchange rates. The Company periodically assesses whether its currency exchange contracts are effective, and when a contract is determined to be no longer effective as a hedge, the Company discontinues hedge accounting prospectively. During 2021, the Company entered into two cross-currency swaps designated as cash flow hedges with gross notional U.S. dollar equivalent amounts of $26 and $94 with maturity dates of September 2027 and 2030, respectively. Foreign currency forward contracts The Company utilizes foreign currency forward contracts to hedge the effect of foreign currency exchange rate fluctuations on forecasted foreign currency transactions, including inventory purchases and intercompany charges and other payments. These forward contracts are designated as cash flow hedges. The changes in fair value of these contracts are recorded in other comprehensive income until the hedged items affect earnings, at which time the hedge gain or loss is reclassified into current earnings. The Company periodically assesses whether its currency exchange contracts are effective, and when a contract is determined to be no longer effective as a hedge, the Company discontinues hedge accounting prospectively. Fair value hedges The Company has certain intercompany loans subject to changes in foreign currency exchange rates. To hedge these exposures, during 2022, the Company entered into three cross-currency swaps each with maturity dates of January 2027. These contracts are designated as fair value hedges with gross notional U.S. dollar equivalents of $271, $241, and $209 in GBP, CAD, and EUR, respectively. The Company measures the effectiveness of fair value hedges of anticipated transactions on a spot-to-spot basis. Accordingly, the spot-to-spot change in the derivative fair values are recorded in the condensed consolidated statements of operations and perfectly offset the spot-to-spot change in the underlying intercompany loans, and as such, these hedges are deemed highly effective. The excluded component of the fair values of these derivatives is reported in AOCI within shareholders’ equity in the condensed consolidated balance sheets. Any cash flows associated with these instruments are included in operating activities in the condensed consolidated statements of cash flows. Net investment hedges The Company has net investments in foreign subsidiaries subject to changes in foreign currency exchange rates. During 2021, the Company entered into a $230 notional foreign currency swap designated as a net investment hedge for a portion of the Company’s net investments in Euro-denominated subsidiaries. Gains and losses resulting from a change in fair value of the net investment hedge are offset by gains and losses on the underlying foreign currency exposure and are included in AOCI in the condensed consolidated balance sheets. During 2021, the Company amended the critical terms of the foreign currency swap by extending the maturity date and modifying the U.S. dollar and Euro coupons. The amended swap was redesignated as a net investment hedge as a result of the amendment, recorded at fair value with changes recorded in AOCI, and the initial net investment hedge was dedesignated. The amended net investment hedge reduces the Company’s interest expense by approximately $3 annually and reduces its overall effective interest rate by approximately 24 basis points and will mature in July 2029. The fair value previously recognized in AOCI related to interest rate movements of the dedesignated swap is being amortized to interest expense on a straight-line basis through the third quarter of 2029. Foreign currency contracts The Company uses foreign currency forward contracts to mitigate the foreign currency exposure of certain foreign currency transactions. Fair market value gains or losses on foreign currency forward contracts not designated as hedging instruments were included in the results of operations and are classified in investment income and other, net in the condensed consolidated statements of operations.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	PROPERTY AND EQUIPMENT, NET The components of property and equipment as of September 30, 2023, and December 31, 2022 are as follows: Estimated September 30, December 31, Land N/A $ 26 $ 30 Building 39 83 98 Machinery and equipment 1-20 268 313 Autos and trucks 4-10 112 116 Office equipment 5-7 86 35 Leasehold improvements 1-15 33 33 Total cost 608 625 Accumulated depreciation (231) (218) Property and equipment, net $ 377 $ 407 Depreciation expense related to property and equipment, including finance leases, was $21 and $22 during the three months ended September 30, 2023 and 2022, and $59 and $60 during the nine months ended September 30, 2023 and 2022, respectively. Depreciation expense is included within cost of revenues and selling, general, and administrative expenses in the condensed consolidated statements of operations.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	DEBT Debt obligations consist of the following: Maturity Date September 30, December 31, Term loan facility 2019 Term Loan October 1, 2026 $ 1,027 $ 1,127 2021 Term Loan January 3, 2029 985 1,085 Revolving Credit Facility October 1, 2026 — — Senior notes 4.125% Senior Notes July 15, 2029 337 337 4.750% Senior Notes October 15, 2029 277 277 Other obligations 6 6 Total debt obligations 2,632 2,832 Less: unamortized deferred financing costs (34) (43) Total debt, net of deferred financing costs 2,598 2,789 Less: short-term and current portion of long-term debt (256) (206) Long-term debt, less current portion $ 2,342 $ 2,583 Term loan facility The Company amended its credit agreement during the second quarter of 2023, which provided for amended interest rates applicable to the Company's existing term loans and future borrowings under the revolving credit facility. In May 2023, the Company entered into an amendment to the credit agreement to replace the London Inter-Bank Offered Rate ("LIBOR") index with Term SOFR. As of September 30, 2023, the Company had $1,027 of principal outstanding under the $1,200 term loan (the "2019 Term Loan") with a maturity date of October 1, 2026. During the nine months ended September 30, 2023, the Company made a payment of $100 on the 2019 Term Loan. The interest rate applicable to the 2019 Term Loan is, at the Company's option, either (a) a base rate plus an applicable margin equal to 1.50% or (b) Term SOFR rate (adjusted for statutory reserves) plus an applicable margin equal to 2.50% plus a credit spread adjustment ("CSA"). As of September 30, 2023, the Company had $985 of principal outstanding under the $1,100 term loan (the "2021 Term Loan") with a maturity date of January 3, 2029. During the nine months ended September 30, 2023, the Company made a payment of $100 on the 2021 Term Loan. The interest rate applicable to the 2021 Term Loan is, at the Company's option, either (1) a base rate plus an applicable margin equal to 1.75% or (2) Term SOFR rate (adjusted for statutory reserves) plus an applicable margin equal to 2.75% plus a CSA. The interest rate applicable to borrowings under the $500 five-year senior secured revolving credit facility (the “Revolving Credit Facility”) is, at the Company’s option, either (1) a base rate plus an applicable margin equal to 1.25%, or (2) a Term SOFR rate (adjusted for statutory reserves) plus an applicable margin equal to 2.25% plus a CSA. See Note 19 - "Subsequent Events” for a discussion of the October 2023 repricing of the 2019 Term Loan and 2021 Term Loan, extension of the 2019 Term Loan, and partial repayment of the 2019 Term Loan. Swap activity In the three months ended September 30, 2023, the Company amended its existing interest rate swaps in connection with the transition to SOFR for the term loans. As of September 30, 2023, the Company had a four-year interest rate swap with respect to $720 of notional value, exchanging one-month SOFR for a fixed rate of 3.59% per annum, and a five-year interest rate swap, which started in the first quarter of 2023, exchanging one-month SOFR for a rate of 3.41%. Accordingly, the Company's fixed interest rate per annum on the first swapped $400 notional value of the term loans is 3.41% and the second swapped $720 notional value of the term loans is 3.59% through their maturity. The remaining $892 of the term loans balance will bear interest based on one-month SOFR plus CSA plus 250 basis points or SOFR plus CSA plus 275 basis points, but the rate will fluctuate as SOFR fluctuates. Refer to Note 9 - "Derivatives" for additional information. As of September 30, 2023 and December 31, 2022, the Company had no amounts outstanding under the Revolving Credit Facility, and $484 and $446 was available at September 30, 2023 and December 31, 2022, respectively, after giving effect to $16 and $54 of outstanding letters of credit, respectively. As of September 30, 2023 and December 31, 2022, the Company was in compliance with all applicable debt covenants. Senior notes 4.125% Senior Notes During 2021, the Company completed a private offering of $350 aggregate principal amount of 4.125% Senior Notes (the “4.125% Senior Notes”) issued under an indenture dated June 22, 2021. The 4.125% Senior Notes are fully and unconditionally guaranteed on a senior unsecured basis by the Company and certain of the Company’s subsidiaries. The Company repurchased $13 of the 4.125% Senior Notes in September 2022 and the balance as of September 30, 2023 was $337. 4.750% Senior Notes During 2021, the Company completed a private offering of $300 aggregate principal amount of 4.750% Senior Notes due 2029 (the "4.750% Senior Notes") issued under an indenture dated October 21, 2021, as supplemented by a supplemental indenture dated January 3, 2022. The 4.750% Senior Notes are fully and unconditionally guaranteed on a senior unsecured basis by the Company and certain of the Company's subsidiaries. The Company repurchased $23 of the 4.750% Senior Notes in September 2022 and the balance as of September 30, 2023 was $277. The Company was in compliance with all covenants contained in the indentures for the 4.125% Senior Notes and 4.750% Senior Notes as of September 30, 2023, and December 31, 2022. Other obligations As of each of September 30, 2023 and December 31, 2022, the Company had $6 in notes outstanding for working capital purposes and the acquisition of equipment and vehicles.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company’s quarterly income tax provision is measured using an estimate of its consolidated annual effective tax rate, adjusted in the current period for discrete income tax items, within the periods presented. The comparison of the Company’s income tax provision between periods may be impacted by the level and mix of earnings and losses by tax jurisdiction, foreign income tax rate differentials, and discrete items. The Company’s effective tax rate was 25.5% and 40.5% for the three months ended September 30, 2023 and 2022, and 31.3% and 24.2% for the nine months ended September 30, 2023, and 2022, respectively. The difference between the effective tax rate and the statutory U.S. federal income tax rate of 21.0% for the three and nine months ended September 30, 2023 and 2022 is due to nondeductible permanent items, state taxes, taxes on foreign earnings in jurisdictions that have higher tax rates, and the reversal of the Company’s indefinite reinvestment assertion. As of September 30, 2023, the Company’s deferred tax assets included a valuation allowance of $105 primarily related to certain net operating loss, capital loss, and tax credit carryforwards of the Company’s foreign subsidiaries. The factors used to assess the likelihood of realization were the past performance of the related entities, forecasts of future taxable income, future reversals of existing taxable temporary differences, and available tax planning strategies that could be implemented to realize the deferred tax assets. The ability or failure to achieve the forecasted taxable income in these entities could affect the ultimate realization of deferred tax assets. As of September 30, 2023, the Company had gross federal, state, and foreign net operating loss carryforwards of approximately $0, $21, and $104, respectively. The state net operating losses have carryforward periods of five years and begin to expire in 2027. The foreign net operating losses have carryback periods of three years, carryforward periods of twenty years, or are indefinite, and begin to expire in 2036. The Company’s liability for unrecognized tax benefits is recorded within other noncurrent liabilities in the condensed consolidated balance sheets and recognizes interest and penalties accrued related to unrecognized tax benefits in the provision for income taxes in the condensed consolidated statements of operations. As of September 30, 2023, and December 31, 2022, the total gross unrecognized tax benefits were $6 and $8, respectively. The Company had accrued gross interest and penalties as of each of September 30, 2023 and December 31, 2022 of $2. During the three and nine months ended September 30, 2023 and 2022, the Company did not recognize net interest expense. If all of the Company’s unrecognized tax benefits as of September 30, 2023, were recognized, $8 would impact the Company’s effective tax rate. The Company does not expect any unrecognized tax benefits to expire in the next twelve months. The Company files income tax returns in the U.S. federal jurisdiction, and various state, local, and foreign jurisdictions. As of September 30, 2023, with few exceptions, neither the Company nor its subsidiaries are subject to examination prior to tax year 2014. There are various other audits in state and foreign jurisdictions, including an ongoing IRS exam related to the 2019 final S Corporation return. No adjustments have been proposed and the Company does not expect the results of the audits to have a material impact on the Interim Statements. On August 16, 2022, the U.S. government enacted the Inflation Reduction Act of 2022, which includes changes to the U.S. corporate income tax system, including a 15% minimum tax based on “adjusted financial statement income” for certain large corporations which is effective for taxable years beginning after December 31, 2022, and a 1% excise tax on share repurchases after December 31, 2022. While these tax law changes are not expected to have a material adverse effect on the Company's results of operations going forward, it is unclear how this legislation will be implemented by the U.S. Department of Treasury and what, if any, impact it will have on the Company's effective tax rate. The Company will continue to evaluate the impact of the Inflation Reduction Act as further information becomes available.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS Defined benefit pension plans The Company sponsors both funded and unfunded foreign defined benefit pension plans that cover a portion of the Company's employees, and the largest plans are closed to new participants and frozen for accrual of future service. During the second quarter of 2023, an annuity purchase transaction, commonly known as a “buy-in”, was executed for the two pension plans in the United Kingdom. Under the terms of the contract, which is issued by a third-party insurance company with no affiliation to the Company, all pension obligations will be funded by the insurer’s annuity payments, but the plans still retain full legal responsibility to pay the benefits to plan participants using the insurance payments. As the plans maintain full legal responsibility, with the annuity contracts being assets of the plans, settlement accounting has not been applied and the contracts represent a change in investment strategy and not a significant change in the plan structure requiring a remeasurement at the interim date. Given the funded status of the plans, the Company does not expect any future contributions to be required. The components of the net periodic pension benefit for the defined benefit pension plans are as follows: Three Months Ended September 30, 2023 2022 Service cost $ 1 $ 3 Interest cost 16 7 Expected return on plan assets (19) (18) Net periodic pension benefit $ (2) $ (8) Nine Months Ended September 30, 2023 2022 Service cost $ 3 $ 9 Interest cost 47 24 Expected return on plan assets (56) (56) Net periodic pension benefit $ (6) $ (23) Multiemployer pension plans Certain subsidiaries of the Company contribute amounts to multiemployer pension plans and other multiemployer benefit plans and trusts, which are recorded as a component of employee wages and salaries within costs of revenues on the condensed consolidated statements of operations. Contributions are generally based on fixed amounts per hour per employee for employees covered under these plans. Multiemployer plan contribution rates are determined annually and assessed on a pay-as-you-go basis based on union employee payrolls. Union payrolls cannot be determined for future periods because the number of union employees employed at a given time and the plans in which they participate vary depending upon the location, the number of ongoing projects, and the need for union resources in connection with those projects. Total consolidated contributions to multiemployer plans were $25 and $26 during the three months ended September 30, 2023 and 2022, respectively, and $75 and $77 during the nine months ended September 30, 2023 and 2022, respectively. Profit sharing plans The Company has a trustee-administered profit-sharing retirement plan covering substantially all of the Company's employees in the U.S. not covered by collective bargaining agreements and a profit sharing plan for employees in Canada (collectively, “Profit Sharing Plans”). The Profit-Sharing Plans provide for annual discretionary contributions in amounts based on a performance grid as determined by the Company’s directors, which may be settled in shares of the Company's common stock or in cash. In connection with these plans, the Company recognized $4 and $4 in expense during the three months ended September 30, 2023 and 2022, respectively, and $14 and $10 in expense during the nine months ended September 30, 2023 and 2022, respectively. Employee stock purchase plan Most of the Company’s employees in the U.S. and Canada, including named executive officers, are eligible to participate in the Company’s Employee Stock Purchase Plan (the “ESPP”). Sales of shares of the Company’s common stock under the ESPP are generally made pursuant to offerings that are intended to satisfy the requirements of Section 423 of the Internal Revenue Code. The ESPP permits employees of the Company to purchase common stock at a price equal to 85% of the lesser of (i) the market value of the common stock on the first day of the offering period, or (ii) the market value of the common stock on the purchase date, whichever is lower. Participants are subject to eligibility requirements and may not purchase more than 500 shares in any offering period or more than ten thousand dollars of common stock in a year under the ESPP. The Company recognized $1 of expense during each of the three months ended September 30, 2023 and 2022 and $4 and $3 of expense during the nine months ended September 30, 2023 and 2022, respectively.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related-Party Transactions	RELATED-PARTY TRANSACTIONS The Company incurred advisory fees of $1 during each of the three months ended September 30, 2023 and 2022 and $3 during each of the nine months ended September 30, 2023 and 2022, in each case payable to Mariposa Capital, LLC, an entity owned by a co-chair of the Company’s Board of Directors. In addition, dividends for Series A Preferred Stock were declared as of December 31, 2021 and settled in shares during January 2022. The Company issued 7,539,697 shares in January 2022 to Mariposa Acquisition IV, LLC, a related entity that is controlled by a co-chair of the Company's Board of Directors. During 2022, the Company issued and sold 800,000 shares of the Company’s 5.5% Series B Redeemable Convertible Preferred Stock, par value $0.0001 per share (the “Series B Preferred Stock”) for an aggregate purchase price of $800. Of the 800,000 shares issued and sold, 200,000 shares were sold to Viking Global Equities Master Ltd. and Viking Global Equities II LP ("Viking Purchasers"), which is the aggregate owner of more than 5% of the Company's outstanding stock. The Company declared dividends of 103,283 and 184,754 shares of common stock on the Series B Preferred Stock held by the Viking Purchasers during the three months ended September 30, 2023, and 2022, respectively. The Company declared dividends of 337,103 and 486,234 shares of common stock on the Series B Preferred Stock held by the Viking Purchasers during the nine months ended September 30, 2023, and 2022, respectively. The Company has entered into sales contracts with Royal Oak Enterprises, an entity controlled by a co-chair of the Company's Board of Directors, and recorded $1 and $3 in net revenues for the three and nine months ended September 30, 2023, respectively. From time to time, the Company also enters other immaterial related-party transactions.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES The Company is involved in various litigation matters and is subject to claims from time to time from customers and various government entities. While it is not feasible to determine the outcome of any of these uncertainties, it is the opinion of management that their outcomes will not have a material adverse effect on the financial position, results of operations, or cash flows of the Company. Environmental obligations The Company's operations are subject to environmental regulation by various authorities. The Company has accrued for the costs of environmental remediation activities, including but not limited to, investigatory, remediation, operating and maintenance costs, and performance guarantees, and periodically reassess these amounts. Management believes that the likelihood of incurring losses materially in excess of the amounts accrued is remote.

SHAREHOLDERS' EQUITY AND REDEEM

SHAREHOLDERS' EQUITY AND REDEEMABLE CONVERTIBLE PREFERRED STOCK	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Shareholders' Equity and Redeemable Convertible Preferred Stock	SHAREHOLDERS’ EQUITY AND REDEEMABLE CONVERTIBLE PREFERRED STOCK Shareholders' equity Series A Preferred Stock The Company had 4,000,000 shares of Series A Preferred Stock issued and outstanding as of September 30, 2023 ("Series A Preferred Stock"). The Series A Preferred Stock will be automatically converted into shares of common stock on a one-for-one basis on the last day of 2026. The holders of the Series A Preferred Stock are entitled to receive an annual dividend in the form of common stock or cash, at the Company’s sole option, based on the increase in the market price of the Company’s common stock. Stock Repurchases The Company is authorized to purchase up to an aggregate of $250 of shares of the Company’s common stock pursuant to the stock repurchase program ("SRP"), which will expire on February 29, 2024, unless otherwise modified or terminated by the Company's Board of Directors. The SRP authorizes open market, private, and accelerated share repurchase transactions. During the three months ended September 30, 2023, and 2022, the Company repurchased 656,489 and 738,572 shares of common stock for aggregate payments of approximately $18 and $11, respectively. During the nine months ended September 30, 2023 and 2022, the Company repurchased 1,626,493 and 1,951,332 shares of common stock for approximately $41 and $33, respectively. As of September 30, 2023, the Company had approximately $166 of authorized repurchases remaining under the SRP. Redeemable Convertible Preferred Stock Series B Preferred Stock During 2022, the Company authorized, issued, and sold, for an aggregate purchase price of $800, 800,000 shares of the Company’s 5.5% Series B Preferred Stock, par value $0.0001 per share. The holders of the Series B Preferred Stock are entitled to dividends at the rate of 5.5% per annum, payable in cash or the Company’s common stock, at the Company's election. The Series B Preferred Stock ranks senior to the Company's common stock and Series A Preferred Stock with respect to dividend rights and rights upon voluntary or involuntary liquidation, dissolution, or winding up of the affairs of the Company. The Series B Preferred Stock is classified as redeemable convertible preferred stock on the condensed consolidated balance sheets due to a provision that a change in control or de-listing of the Company could require the Company to redeem the Series B Preferred Stock for cash at the election of the holder. The Series B Preferred Stock is convertible, at the holder’s option, into shares of the Company’s common stock at a conversion price equal to $24.60 per share, subject to certain customary adjustments. The holders of Series B Preferred Stock have certain other rights including voting rights on an as converted basis, certain pre-emptive rights on private equity offerings by the Company, certain registration rights, and, in the case of certain holders, certain director designation rights, as provided in the certificate of designation governing the Series B Preferred Stock. The Company may, at its option, effect conversion of the outstanding shares of Series B Preferred Stock to common stock, but only if the volume-weighted average price of the Company's common stock exceeds $36.90 per share for 15 consecutive trading days. Dividends

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARENet income is allocated between the Company’s common shares and other participating securities based on their participation rights. The Series A Preferred Stock and Series B Preferred Stock represent participating securities. Earnings attributable to Series A Preferred Stock and Series B Preferred Stock are not included in earnings attributable to common shares in calculating earnings per common share (the two-class method). For periods of net loss, there is no impact from the two-class method on earnings per common share (“EPS”) as net loss is allocated to common shares because Series A Preferred Stock and Series B Preferred Stock shares are not contractually obligated to share the loss. The following table sets forth the computation of EPS using the two-class method. The dilutive effect of outstanding Series A Preferred Stock, Series B Preferred Stock, the Series A Preferred Stock dividend, and the Series B Preferred Stock dividend is reflected in diluted EPS using the if-converted method and options, restricted shares, and performance shares are reflected using the treasury stock method. For periods of net loss, basic and diluted EPS are the same, as the assumed exercise of Series A Preferred Stock, Series B Preferred Stock, restricted and performance shares, and stock options are anti-dilutive. (Amounts in millions, except share and per share amounts.) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic earnings per common share: Net income $ 54 $ 28 $ 128 $ 51 Less income allocable to Series A Preferred Stock (4) (2) (10) (2) Less income allocable to Series B Preferred Stock (4) (2) (10) (2) Less stock dividend attributable to Series B Preferred Stock (11) (11) (33) (33) Net income attributable to common shareholders $ 35 $ 13 $ 75 $ 14 Weighted average shares outstanding - basic 235,418,566 233,605,429 234,996,055 232,982,467 Income per common share - basic $ 0.15 $ 0.06 $ 0.32 $ 0.06 Diluted earnings per common share: Net income $ 54 $ 28 $ 128 $ 51 Less income allocable to Series A Preferred Stock (4) (2) (10) (2) Less stock dividend attributable to Series B Preferred Stock (11) (11) (33) (33) Net income attributable to common shareholders - diluted $ 39 $ 15 $ 85 $ 16 Weighted average shares outstanding - basic 235,418,566 233,605,429 234,996,055 232,982,467 Dilutive securities: (1) Restricted stock units, warrants, and stock options 420,465 336,325 308,745 357,350 Shares issuable upon conversion of Series B Preferred Shares 32,520,000 32,520,000 32,520,000 32,520,000 Shares issuable pursuant to the Series A Preferred Stock dividend (2) 1,679,291 — 1,099,296 — Weighted average shares outstanding - diluted 270,038,322 266,461,754 268,924,096 265,859,817 Income per common share - diluted $ 0.15 $ 0.06 $ 0.32 $ 0.06 1. For all periods presented, 4,000,000 shares of Series A Preferred Stock, which are convertible to the same number of common shares, have been excluded from the calculation of diluted shares, as their inclusion would be anti-dilutive. 2. For the three and nine months ended September 30, 2023, dilutive securities include common share equivalents which represent the annual dividend, payable in the form of common shares or cash at the Company's sole option, that Series A Preferred Shares would be entitled to receive assuming that the volume weighted average price of the Company’s common shares for the last ten trading days of the period would be the same average price during the last ten trading days of the calendar year. The holders of the Series A Preferred Stock are entitled to receive an annual dividend based on the increase in the market price of the Company’s common stock (the "Annual Dividend Amount"). The Annual Dividend Amount is equal to 20% of the increase in the volume-weighted average market price per share of the Company’s common shares for the last ten trading days of the calendar year, multiplied by 141,194,638 shares. During 2023, the Annual Dividend Amount was calculated based on the appreciation of the Company’s share price over the highest previously used share price of $24.3968.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company manages its operations under two operating segments which represent the Company’s two reportable segments: Safety Services and Specialty Services. This structure is generally focused on various businesses related to contracting services and maintenance of industrial and commercial facilities. Both reportable segments derive their revenues from installation, inspection, maintenance, service and repair, retrofitting and upgrading, engineering and design, distribution, fabrication, and various types of other services in over 20 countries. The Safety Services segment focuses on end-to-end integrated occupancy systems (fire protection solutions, HVAC, and entry systems), including design, installation, inspection, and service of these integrated systems. The work performed within this segment spans across industries and facilities and includes commercial, education, healthcare, high-tech, industrial and special-hazard settings. The Specialty Services segment provides a variety of infrastructure services and specialized industrial plant services, which include maintenance and repair of critical infrastructure such as underground electric, gas, water, sewer, and telecommunications infrastructure. This segment’s services include engineering and design, fabrication, installation, maintenance service and repair, retrofitting and upgrading, pipeline infrastructure, access and road construction, supporting facilities, and performing ongoing integrity management and maintenance to customers within the energy industry. Customers within this segment vary from private and public utilities, communications, healthcare, education, transportation, manufacturing, industrial plants, and governmental agencies throughout North America. The accounting policies of the reportable segments are the same as those described in Note 1 – “Basis of Presentation and Significant Accounting Policies.” All intercompany transactions and balances are eliminated in consolidation. Intercompany revenues and costs between entities within a reportable segment are eliminated to arrive at segment totals and eliminations between segments are separately presented. Corporate results include amounts related to corporate functions such as administrative costs, professional fees, acquisition-related transaction costs (exclusive of acquisition integration costs, which are included within the segment results of the acquired businesses), and other discrete items. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is the measure of profitability used by management to manage its segments and, accordingly, in its segment reporting. As appropriate, the Company supplements the reporting of consolidated financial information determined in accordance with U.S. GAAP with certain non-U.S. GAAP financial measures, including EBITDA. The Company believes these non-U.S. GAAP measures provide meaningful information and help investors understand the Company’s financial results and assess its prospects for future performance. The Company uses EBITDA to evaluate its performance, both internally and as compared with its peers because it excludes certain items that may not be indicative of the Company’s core operating results for its reportable segments. Segment EBITDA is calculated in a manner consistent with consolidated EBITDA. Summarized financial information for the Company’s reportable segments is presented and reconciled to consolidated financial information in the following tables, including a reconciliation of consolidated operating income (loss) to EBITDA: Three Months Ended September 30, 2023 Safety Specialty Corporate and Consolidated Net revenues $ 1,217 $ 569 $ (2) $ 1,784 EBITDA Reconciliation Operating income (loss) $ 98 $ 43 $ (37) $ 104 Plus: Investment income and other, net 2 1 1 4 Non-service pension benefit 3 — — 3 Depreciation 8 13 — 21 Amortization 42 13 1 56 EBITDA $ 153 $ 70 $ (35) $ 188 Total assets $ 5,983 $ 1,315 $ 651 $ 7,949 Capital expenditures 5 10 3 18 Three Months Ended September 30, 2022 Safety Specialty Corporate and Consolidated Net revenues $ 1,154 $ 590 $ (9) $ 1,735 EBITDA Reconciliation Operating income (loss) $ 60 $ 45 $ (44) $ 61 Plus: Investment income and other, net 1 2 — 3 Non-service pension benefit 10 — — 10 Gain on extinguishment of debt, net — — 5 5 Depreciation 8 12 2 22 Amortization 37 14 — 51 EBITDA $ 116 $ 73 $ (37) $ 152 Total assets $ 5,879 $ 1,357 $ 705 $ 7,941 Capital expenditures 5 16 5 26 Nine Months Ended September 30, 2023 Safety Specialty Corporate and Consolidated Net revenues $ 3,633 $ 1,554 $ (18) $ 5,169 EBITDA Reconciliation Operating income (loss) $ 292 $ 84 $ (92) $ 284 Plus: Investment income and other, net 2 6 1 9 Non-service pension benefit 9 — — 9 Loss on extinguishment of debt, net — — (3) (3) Depreciation 21 37 1 59 Amortization 125 39 3 167 EBITDA $ 449 $ 166 $ (90) $ 525 Total assets $ 5,983 $ 1,315 $ 651 $ 7,949 Capital expenditures 19 41 4 64 Nine Months Ended September 30, 2022 Safety Specialty Corporate and Consolidated Net revenues $ 3,374 $ 1,520 $ (39) $ 4,855 EBITDA Reconciliation Operating income (loss) $ 186 $ 70 $ (143) $ 113 Plus: Investment income and other, net 2 5 (2) 5 Non-service pension benefit 32 — — 32 Gain on extinguishment of debt, net — — 5 5 Depreciation 20 35 5 60 Amortization 120 43 2 165 EBITDA $ 360 $ 153 $ (133) $ 380 Total assets $ 5,879 $ 1,357 $ 705 $ 7,941 Capital expenditures 16 37 7 60

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On October 3, 2023, the Company entered into a definitive agreement to sell an infrastructure/utility operating company in its Specialty Services segment, for $37. The sale is expected to close before December 31, 2023. Refer to Note 4 - "Assets Held for Sale" for additional information. On October 11, 2023, the Company completed repricing of its 2019 Term Loan and 2021 Term Loan. The repricing reduces the applicable margin on all outstanding amounts by 25 basis points. Additionally, $422 of the 2019 Term Loan was extended to the 2021 Term Loan and assumed all the same terms as the repriced 2021 Term Loan. The Company made a repayment of $100 on the 2019 Term Loan concurrent with the close of this transaction. Following the repricing transaction, the Company has $505 outstanding on 2019 Term Loan and $1,407 outstanding on the 2021 Term Loan.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 54	$ 48	$ 26	$ 28	$ 30	$ (7)	$ 128	$ 51

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation The accompanying interim unaudited condensed consolidated financial statements (the “Interim Statements”) include the accounts of the Company and of its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. These Interim Statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements. The condensed consolidated balance sheets as of December 31, 2022, were derived from audited financial statements for the year then ended but do not include all of the information and footnotes required by U.S. GAAP with respect to annual financial statements. In the opinion of management, the Interim Statements include all adjustments (including normal recurring accruals) necessary for a fair presentation of the Company’s consolidated financial position, results of operations, and cash flows for the dates and periods presented. It is recommended that these Interim Statements be read in conjunction with the Company’s audited annual consolidated financial statements and accompanying footnotes thereto for the year ended December 31, 2022. Results for interim periods are not necessarily indicative of the results to be expected for a full fiscal year or for any future period.
Cash, cash equivalents, and restricted cash	Cash, cash equivalents, and restricted cash The Company considers all highly liquid investments purchased with an original maturity date of three months or less to be cash equivalents. Restricted cash is reported as other current assets in the condensed consolidated balance sheets. Restricted cash reflects collateral against certain bank guarantees.
Investments	Investments The Company holds investments in joint ventures, the majority of which are accounted for under the equity method of accounting as the Company does not exercise control over the joint ventures. The Company exercises control over one joint venture that is consolidated into the Company's financial statements and the results for that joint venture for the three and nine months ended September 30, 2023 were immaterial. The Company’s share of earnings from the non-consolidated joint ventures was $1 and $2 during the three months ended September 30, 2023 and 2022, respectively, and $5 and $3 during the nine months ended September 30, 2023 and 2022, respectively. The earnings are recorded within investment income and other, net in the condensed consolidated statements of operations. The investment balances were $6 and $4 as of September 30, 2023 and December 31, 2022, respectively, and are recorded within other assets in the condensed consolidated balance sheets.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Asset Acquisitions	The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the dates of acquisition: Acquisition A23 Other 2023 acquisitions Cash paid at closing $ 30 $ 22 Cash deposited into escrow 5 — Accrued consideration 3 2 Total net consideration $ 38 $ 24 Accounts receivable $ 8 $ — Contract assets 1 — Intangible assets 13 5 Goodwill 20 19 Accounts payable (1) — Contract liabilities (3) — Net assets acquired $ 38 $ 24 The following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of the Chubb Acquisition: Cash paid at closing $ 2,935 Working capital and net indebtedness adjustment (42) Total net consideration $ 2,893 Cash $ 60 Accounts receivable 426 Inventories 68 Contract assets 183 Other current assets 25 Property and equipment 73 Operating lease right of use assets 146 Pension and post-retirement assets 626 Other noncurrent assets 8 Intangible assets 1,200 Goodwill 1,367 Accounts payable (192) Contract liabilities (162) Accrued expenses (255) Finance and operating lease liabilities (148) Pension and post-retirement obligations (56) Deferred tax liabilities (383) Other noncurrent liabilities (93) Net assets acquired $ 2,893

ASSETS HELD FOR SALE (Tables)

ASSETS HELD FOR SALE (Tables)	9 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Summary of Information Related to Major Classes of Assets Classified as Assets and Liabilities Held for Sale	The following table presents information related to the major classes of assets recorded in prepaid expenses and other current assets and liabilities recorded in other accrued liabilities that were classified as held for sale in the condensed consolidated balance sheets: September 30, 2023 Accounts receivable $ 14 Inventories 2 Contract assets 6 Property and equipment, net 27 Operating lease right of use assets 2 Accounts payable (8) Other current liabilities (3) Noncurrent operating and finance leases (3) Total assets and liabilities held for sale $ 37

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Summary of Restructuring Program	The following table summarizes the Company's restructuring program for the nine months ended September 30, 2023 and 2022: Employee termination benefits Program related costs Asset write-downs Total December 31, 2022 $ 22 $ — $ — $ 22 Charges 21 1 4 26 Payments (18) — — (18) Reversals (1) — — (1) Currency translation adjustment (1) — — (1) September 30, 2023 $ 23 $ 1 $ 4 $ 28 Employee termination benefits Program related costs Asset write-downs Total December 31, 2021 $ — $ — $ — $ — Charges 18 — — 18 Payments (6) — — (6) Currency translation adjustment (1) — — (1) September 30, 2022 $ 11 $ — $ — $ 11

NET REVENUES (Tables)

NET REVENUES (Tables)	9 Months Ended
	Sep. 30, 2023
Revenues [Abstract]
Summary of Disaggregated Net Revenues	The Company disaggregates its net revenues primarily by segment, service type, and country from which revenues are invoiced, as the nature, timing, and uncertainty of cash flows are relatively consistent within each of these categories. The following tables provide disclosure of disaggregated net revenues by segment for the three and nine months ended September 30, 2023, and 2022. During 2023, the Company moved an immaterial business component within the Safety Services segment from the HVAC to the Life Safety reporting unit, and prior period amounts in this table have been recast to reflect the current period presentation. Disaggregated net revenues information is as follows: Three Months Ended September 30, 2023 Safety Specialty Consolidated Life Safety $ 1,084 $ — $ 1,084 Heating, Ventilation, and Air Conditioning ("HVAC") 133 — 133 Infrastructure/Utility — 360 360 Fabrication — 42 42 Specialty Contracting — 167 167 Corporate and Eliminations — — (2) Net revenues $ 1,217 $ 569 $ 1,784 Three Months Ended September 30, 2022 Safety Specialty Consolidated Life Safety $ 1,021 $ — $ 1,021 HVAC 133 — 133 Infrastructure/Utility — 341 341 Fabrication — 87 87 Specialty Contracting — 162 162 Corporate and Eliminations — — (9) Net revenues $ 1,154 $ 590 $ 1,735 Nine Months Ended September 30, 2023 Safety Specialty Consolidated Life Safety $ 3,250 $ — $ 3,250 HVAC 383 — 383 Infrastructure/Utility — 907 907 Fabrication — 155 155 Specialty Contracting — 492 492 Corporate and Eliminations — — (18) Net revenues $ 3,633 $ 1,554 $ 5,169 Nine Months Ended September 30, 2022 Safety Specialty Consolidated Life Safety $ 3,003 $ — $ 3,003 HVAC 371 — 371 Infrastructure/Utility — 849 849 Fabrication — 194 194 Specialty Contracting — 477 477 Corporate and Eliminations — — (39) Net revenues $ 3,374 $ 1,520 $ 4,855 Three Months Ended September 30, 2023 Safety Specialty Corporate and Consolidated United States $ 595 $ 559 $ (2) $ 1,152 France 140 — — 140 Other 482 10 — 492 Net revenues $ 1,217 $ 569 $ (2) $ 1,784 Three Months Ended September 30, 2022 Safety Specialty Corporate and Consolidated United States $ 568 $ 565 $ (9) $ 1,124 France 125 — — 125 Other 461 25 — 486 Net revenues $ 1,154 $ 590 $ (9) $ 1,735 Nine Months Ended September 30, 2023 Safety Specialty Corporate and Consolidated United States $ 1,738 $ 1,525 $ (18) $ 3,245 France 446 — — 446 Other 1,449 29 — 1,478 Net revenues $ 3,633 $ 1,554 $ (18) $ 5,169 Nine Months Ended September 30, 2022 Safety Specialty Corporate and Consolidated United States $ 1,576 $ 1,481 $ (39) $ 3,018 France 417 — — 417 Other 1,381 39 — 1,420 Net revenues $ 3,374 $ 1,520 $ (39) $ 4,855
Summary of Accounts Receivable, Net of Allowances, Contract Assets and Contract Liabilities from Contracts with Customer	The balances of accounts receivable, net of allowances, contract assets, and contract liabilities from contracts with customers as of September 30, 2023 and December 31, 2022 are as follows: Accounts Contract Contract Balance at September 30, 2023 $ 1,280 $ 530 $ 474 Balance at December 31, 2022 1,313 459 463

GOODWILL AND INTANGIBLES (Table

GOODWILL AND INTANGIBLES (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes In Carrying Amounts of Goodwill By Reportable Segments	The following table provides disclosure of goodwill by segment as of September 30, 2023 and December 31, 2022. The changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2023 are as follows: Safety Specialty Total Goodwill as of December 31, 2022 $ 2,201 $ 181 $ 2,382 Acquisitions 39 — 39 Impairment of goodwill (1) — (4) (4) Foreign currency translation (13) — (13) Goodwill as of September 30, 2023 $ 2,227 $ 177 $ 2,404
Summary of Identifiable Intangible Assets	The Company’s identifiable intangible assets are comprised of the following as of September 30, 2023 and December 31, 2022: September 30, 2023 Weighted Average Remaining Gross Accumulated Net Carrying Amortized intangibles: Contractual backlog 0.3 $ 154 $ (146) $ 8 Customer relationships 9.5 1,513 (477) 1,036 Trade names and trademarks 12.4 702 (122) 580 Total $ 2,369 $ (745) $ 1,624 December 31, 2022 Weighted Average Remaining Gross Accumulated Net Carrying Amortized intangibles: Contractual backlog 0.9 $ 153 $ (126) $ 27 Customer relationships 10.0 1,508 (367) 1,141 Trade names and trademarks 13.2 704 (88) 616 Total $ 2,365 $ (581) $ 1,784
Summary of Amortization Expense Recognized on Intangible Assets	Amortization expense recognized on identifiable intangible assets is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenues $ 7 $ 15 $ 20 $ 22 Selling, general, and administrative expenses 49 36 147 143 Total intangible asset amortization expense $ 56 $ 51 $ 167 $ 165

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Summary of Fair Value Measurement Assets And Liabilities Measured On Recurring Basis	The following tables summarize the fair values and levels within the fair value hierarchy in which the measurements fall for assets and liabilities measured on a recurring basis as of September 30, 2023 and December 31, 2022: Fair Value Measurements at September 30, 2023 Financial assets: Level 1 Level 2 Level 3 Total Derivatives designated as hedge instruments Cash flow hedges - interest rate swaps $ — $ 36 $ — $ 36 Cash flow hedges - cross currency contracts — 15 — 15 Cash flow hedges - foreign currency forward contracts — — — — Net investment hedges - cross currency contracts — 27 — 27 Fair value hedges - cross currency contracts — 47 — 47 Derivatives not designated as hedge instruments Foreign currency forward contracts — 1 — 1 Total $ — $ 126 $ — $ 126 Financial liabilities: Derivatives not designated as hedge instruments Foreign currency forward contracts — (1) — (1) Contingent consideration obligations — — (6) (6) Total $ — $ (1) $ (6) $ (7) Fair Value Measurements at December 31, 2022 Financial assets: Level 1 Level 2 Level 3 Total Derivatives designated as hedge instruments Cash flow hedges - interest rate swaps $ — $ 14 $ — $ 14 Cash flow hedges - cross currency contracts — 17 — 17 Cash flow hedges - foreign currency forward contracts — — — — Net investment hedges - cross currency contracts — 32 — 32 Fair value hedges - cross currency contracts — 50 — 50 Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Total $ — $ 113 $ — $ 113 Financial liabilities: Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Contingent consideration obligations — — (4) (4) Total $ — $ — $ (4) $ (4)
Summary of Reconciliation of Fair Value of Contingent Consideration Obligations	The table below presents a reconciliation of the fair value of the Company’s contingent consideration obligations that use unobservable inputs (Level 3), as well as other information about the contingent consideration obligations: Nine Months Ended, Balance as of December 31, 2022 $ 4 Issuances 3 Settlements (1) Adjustments to fair value — Balance as of September 30, 2023 $ 6 Number of open contingent consideration arrangements at the end of the period 2 Maximum potential payout at the end of the period $ 6
Summary of Carrying And Fair Value Of Non-Variable Interest Rate Debt	The following table presents the carrying amount and fair value of the Company’s term loans and senior notes (instruments defined in Note 11 – “Debt”), including current portions and excluding unamortized debt issuance costs. The fair values are estimated by discounting future cash flows at current interest rates for borrowing arrangements with similar terms and conditions. The inputs used to calculated fair value are considered to be Level 2 inputs under the fair value hierarchy. During the first quarter of 2023, the Company repaid an aggregate amount of $200, $100 to each of the 2019 Term Loan and 2021 Term Loan. September 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value 2019 Term Loan $ 1,027 $ 1,027 $ 1,127 $ 1,120 2021 Term Loan 985 986 1,085 1,075 4.125% Senior Notes 337 285 337 284 4.750% Senior Notes 277 242 277 243

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivative Instruments	The following table presents the fair value of derivative instruments: September 30, 2023 December 31, 2022 Outstanding Gross Other Assets Other Outstanding Gross Other Assets Other Derivatives designated as hedging instruments: Cash flow hedges: Interest rate swaps $ 1,120 $ 36 $ — $ 1,120 $ 14 $ — Cross currency contracts 120 15 — 120 17 — Foreign currency forward contracts 2 — — — — — Fair value hedges: Cross currency contracts 721 47 — 721 50 — Net investment hedges: Cross currency contracts 230 27 — 230 32 — Total derivatives designated as hedging instruments 2,193 125 — 2,191 113 — Derivatives not designated as hedging instruments: Foreign currency forward contracts 103 1 (1) 118 — — Total derivatives not designated as hedging instruments 103 1 (1) 118 — — Total derivatives $ 2,296 $ 126 $ (1) $ 2,309 $ 113 $ —
Summary of Effect of Derivatives on Consolidated Statements of Operations and Accumulated Other Comprehensive Income (Loss)	The following table presents the after tax effect of derivatives on the condensed consolidated statements of operations: Amount of income (expense) recognized in income Derivatives Location of income (expense) Three Months Ended September 30, 2023 2022 Cash flow hedging relationships: Interest rate swaps Interest expense, net $ 8 $ 1 Cross currency contracts Investment income and other, net 3 7 Cross currency contracts Interest expense, net 1 1 Foreign currency forward contracts Investment income and other, net — — Fair value hedging relationships: Cross currency contracts Investment income and other, net 22 49 Cross currency contracts Interest expense, net 1 1 Net investment hedging relationships: Cross currency contracts Interest expense, net 1 1 Not designated as hedging instruments: Foreign currency forward contracts Investment income and other, net — 2 Amount of income (expense) recognized in income Derivatives Location of income (expense) Nine Months Ended September 30, 2023 2022 Cash flow hedging relationships: Interest rate swaps Interest expense, net $ 23 $ (3) Cross currency contracts Investment income and other, net 1 15 Cross currency contracts Interest expense, net 2 2 Foreign currency forward contracts Investment income and other, net — — Fair value hedging relationships: Cross currency contracts Investment income and other, net 1 92 Cross currency contracts Interest expense, net 2 3 Net investment hedging relationships: Cross currency contracts Interest expense, net 3 3 Not designated as hedging instruments: Foreign currency forward contracts Investment income and other, net — 5 The following table presents the effect of cash flow and fair value hedge accounting on accumulated other comprehensive income (loss) ("AOCI"): Amount of gain (loss) Location of gain (loss) reclassified from Amount of gain (loss) Three Months Ended September 30, Three Months Ended September 30, Derivatives 2023 2022 2023 2022 Cash flow hedging relationships: Interest rate swaps $ 8 $ 35 Interest expense, net $ 4 $ 1 Cross currency contracts (2) — Investment income and other, net 3 7 Forward currency forward contracts — — Investment income and other, net — — Fair value hedging relationships: Cross currency contracts (7) 6 Investment income and other, net 23 51 Net investment hedging relationships: Cross currency contracts 2 10 Interest expense, net (1) (1) Amount of gain (loss) Location of gain (loss) reclassified from Amount of gain (loss) Nine Months Ended September 30, Nine Months Ended September 30, Derivatives 2023 2022 2023 2022 Cash flow hedging relationships: Interest rate swaps $ 16 $ 54 Interest expense, net $ 12 $ 1 Cross currency contracts (3) 3 Investment income and other, net 1 15 Forward currency forward contracts — — Investment income and other, net — — Fair value hedging relationships: Cross currency contracts (3) 1 Investment income and other, net 1 94 Net investment hedging relationships: Cross currency contracts (3) 25 Interest expense, net — (1)

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Summary of Components of Property and Equipment	The components of property and equipment as of September 30, 2023, and December 31, 2022 are as follows: Estimated September 30, December 31, Land N/A $ 26 $ 30 Building 39 83 98 Machinery and equipment 1-20 268 313 Autos and trucks 4-10 112 116 Office equipment 5-7 86 35 Leasehold improvements 1-15 33 33 Total cost 608 625 Accumulated depreciation (231) (218) Property and equipment, net $ 377 $ 407

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Summary of Debt Obligations	Debt obligations consist of the following: Maturity Date September 30, December 31, Term loan facility 2019 Term Loan October 1, 2026 $ 1,027 $ 1,127 2021 Term Loan January 3, 2029 985 1,085 Revolving Credit Facility October 1, 2026 — — Senior notes 4.125% Senior Notes July 15, 2029 337 337 4.750% Senior Notes October 15, 2029 277 277 Other obligations 6 6 Total debt obligations 2,632 2,832 Less: unamortized deferred financing costs (34) (43) Total debt, net of deferred financing costs 2,598 2,789 Less: short-term and current portion of long-term debt (256) (206) Long-term debt, less current portion $ 2,342 $ 2,583

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Components of Net Periodic Pension Benefit	The components of the net periodic pension benefit for the defined benefit pension plans are as follows: Three Months Ended September 30, 2023 2022 Service cost $ 1 $ 3 Interest cost 16 7 Expected return on plan assets (19) (18) Net periodic pension benefit $ (2) $ (8) Nine Months Ended September 30, 2023 2022 Service cost $ 3 $ 9 Interest cost 47 24 Expected return on plan assets (56) (56) Net periodic pension benefit $ (6) $ (23)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary of Computation Earnings Per Common Share Using Two Class Method	The following table sets forth the computation of EPS using the two-class method. The dilutive effect of outstanding Series A Preferred Stock, Series B Preferred Stock, the Series A Preferred Stock dividend, and the Series B Preferred Stock dividend is reflected in diluted EPS using the if-converted method and options, restricted shares, and performance shares are reflected using the treasury stock method. For periods of net loss, basic and diluted EPS are the same, as the assumed exercise of Series A Preferred Stock, Series B Preferred Stock, restricted and performance shares, and stock options are anti-dilutive. (Amounts in millions, except share and per share amounts.) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic earnings per common share: Net income $ 54 $ 28 $ 128 $ 51 Less income allocable to Series A Preferred Stock (4) (2) (10) (2) Less income allocable to Series B Preferred Stock (4) (2) (10) (2) Less stock dividend attributable to Series B Preferred Stock (11) (11) (33) (33) Net income attributable to common shareholders $ 35 $ 13 $ 75 $ 14 Weighted average shares outstanding - basic 235,418,566 233,605,429 234,996,055 232,982,467 Income per common share - basic $ 0.15 $ 0.06 $ 0.32 $ 0.06 Diluted earnings per common share: Net income $ 54 $ 28 $ 128 $ 51 Less income allocable to Series A Preferred Stock (4) (2) (10) (2) Less stock dividend attributable to Series B Preferred Stock (11) (11) (33) (33) Net income attributable to common shareholders - diluted $ 39 $ 15 $ 85 $ 16 Weighted average shares outstanding - basic 235,418,566 233,605,429 234,996,055 232,982,467 Dilutive securities: (1) Restricted stock units, warrants, and stock options 420,465 336,325 308,745 357,350 Shares issuable upon conversion of Series B Preferred Shares 32,520,000 32,520,000 32,520,000 32,520,000 Shares issuable pursuant to the Series A Preferred Stock dividend (2) 1,679,291 — 1,099,296 — Weighted average shares outstanding - diluted 270,038,322 266,461,754 268,924,096 265,859,817 Income per common share - diluted $ 0.15 $ 0.06 $ 0.32 $ 0.06 1. For all periods presented, 4,000,000 shares of Series A Preferred Stock, which are convertible to the same number of common shares, have been excluded from the calculation of diluted shares, as their inclusion would be anti-dilutive. 2. For the three and nine months ended September 30, 2023, dilutive securities include common share equivalents which represent the annual dividend, payable in the form of common shares or cash at the Company's sole option, that Series A Preferred Shares would be entitled to receive assuming that the volume weighted average price of the Company’s common shares for the last ten trading days of the period would be the same average price during the last ten trading days of the calendar year. The holders of the Series A Preferred Stock are entitled to receive an annual dividend based on the increase in the market price of the Company’s common stock (the "Annual Dividend Amount"). The Annual Dividend Amount is equal to 20% of the increase in the volume-weighted average market price per share of the Company’s common shares for the last ten trading days of the calendar year, multiplied by 141,194,638 shares. During 2023, the Annual Dividend Amount was calculated based on the appreciation of the Company’s share price over the highest previously used share price of $24.3968.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Summary of Reconciliation Operating Income to EBITDA	Summarized financial information for the Company’s reportable segments is presented and reconciled to consolidated financial information in the following tables, including a reconciliation of consolidated operating income (loss) to EBITDA: Three Months Ended September 30, 2023 Safety Specialty Corporate and Consolidated Net revenues $ 1,217 $ 569 $ (2) $ 1,784 EBITDA Reconciliation Operating income (loss) $ 98 $ 43 $ (37) $ 104 Plus: Investment income and other, net 2 1 1 4 Non-service pension benefit 3 — — 3 Depreciation 8 13 — 21 Amortization 42 13 1 56 EBITDA $ 153 $ 70 $ (35) $ 188 Total assets $ 5,983 $ 1,315 $ 651 $ 7,949 Capital expenditures 5 10 3 18 Three Months Ended September 30, 2022 Safety Specialty Corporate and Consolidated Net revenues $ 1,154 $ 590 $ (9) $ 1,735 EBITDA Reconciliation Operating income (loss) $ 60 $ 45 $ (44) $ 61 Plus: Investment income and other, net 1 2 — 3 Non-service pension benefit 10 — — 10 Gain on extinguishment of debt, net — — 5 5 Depreciation 8 12 2 22 Amortization 37 14 — 51 EBITDA $ 116 $ 73 $ (37) $ 152 Total assets $ 5,879 $ 1,357 $ 705 $ 7,941 Capital expenditures 5 16 5 26 Nine Months Ended September 30, 2023 Safety Specialty Corporate and Consolidated Net revenues $ 3,633 $ 1,554 $ (18) $ 5,169 EBITDA Reconciliation Operating income (loss) $ 292 $ 84 $ (92) $ 284 Plus: Investment income and other, net 2 6 1 9 Non-service pension benefit 9 — — 9 Loss on extinguishment of debt, net — — (3) (3) Depreciation 21 37 1 59 Amortization 125 39 3 167 EBITDA $ 449 $ 166 $ (90) $ 525 Total assets $ 5,983 $ 1,315 $ 651 $ 7,949 Capital expenditures 19 41 4 64 Nine Months Ended September 30, 2022 Safety Specialty Corporate and Consolidated Net revenues $ 3,374 $ 1,520 $ (39) $ 4,855 EBITDA Reconciliation Operating income (loss) $ 186 $ 70 $ (143) $ 113 Plus: Investment income and other, net 2 5 (2) 5 Non-service pension benefit 32 — — 32 Gain on extinguishment of debt, net — — 5 5 Depreciation 20 35 5 60 Amortization 120 43 2 165 EBITDA $ 360 $ 153 $ (133) $ 380 Total assets $ 5,879 $ 1,357 $ 705 $ 7,941 Capital expenditures 16 37 7 60

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023 USD ($) location	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2023 USD ($) location	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Product Information [Line Items]
Number of locations | location	500						500
Net income (loss)	$ 54	$ 48	$ 26	$ 28	$ 30	$ (7)	$ 128	$ 51
Joint Ventures | Other Assets
Product Information [Line Items]
Investment balance	6						6		$ 4
Joint Ventures | Investment income and other, net
Product Information [Line Items]
Net income (loss)	$ 1			$ 2			$ 5	$ 3

BUSINESS COMBINATIONS - Narrati

BUSINESS COMBINATIONS - Narrative (Details) $ in Millions		9 Months Ended		12 Months Ended
	Jun. 30, 2023 USD ($)	Sep. 30, 2023 USD ($) country business	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Asset Acquisition [Line Items]
Accrued consideration issued in business combinations		$ 5	$ 1
Goodwill		38
Acquisition A23
Asset Acquisition [Line Items]
Cash paid at closing	$ 30
Cash deposited into escrow	5
Accrued consideration issued in business combinations	3
Acquisitions, consideration transferred	38
Goodwill	$ 20
Other 2023 Acquisitions
Asset Acquisition [Line Items]
Cash paid at closing		22
Cash deposited into escrow		0
Accrued consideration issued in business combinations		$ 2
Number of immaterial acquisitions | business		4
Acquisitions, consideration transferred		$ 24
Goodwill		$ 19
Chubb Limited (“Chubb”) Fire and Security Business
Asset Acquisition [Line Items]
Cash paid at closing				$ 2,935
Acquisitions, consideration transferred				2,893
Goodwill				1,367
Number of countries of significant business operations | country		17
Number of countries expanding operations | country		20
APi Acquisition
Asset Acquisition [Line Items]
Contingent compensation		$ 7		19
Maximum payout of contingent compensation		15		25
Payout of accrued contingent compensation		7		19
Liability for deferred payments		$ 14		$ 9
APi Acquisition | Minimum
Asset Acquisition [Line Items]
Contingent compensation arrangements recognized period		1 year
Liability for deferred payments recognition period		1 year
APi Acquisition | Maximum
Asset Acquisition [Line Items]
Contingent compensation arrangements recognized period		4 years
Liability for deferred payments recognition period		3 years

BUSINESS COMBINATIONS - Schedul

BUSINESS COMBINATIONS - Schedule of Net Assets Acquired (Details) - USD ($) $ in Millions		9 Months Ended		12 Months Ended
	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Asset Acquisition [Line Items]
Accrued consideration		$ 5	$ 1
Goodwill		38
Other 2023 Acquisitions
Asset Acquisition [Line Items]
Cash paid at closing		22
Cash deposited into escrow		0
Accrued consideration		2
Total net consideration		24
Accounts receivable		0
Contract assets		0
Intangible assets		5
Goodwill		19
Accounts payable		0
Contract liabilities		0
Net assets acquired		$ 24
Chubb Limited (“Chubb”) Fire and Security Business
Asset Acquisition [Line Items]
Cash paid at closing				$ 2,935
Working capital and net indebtedness adjustment				(42)
Total net consideration				2,893
Cash				60
Accounts receivable				426
Inventories				68
Contract assets				183
Other current assets				25
Property and equipment				73
Operating lease right of use assets				146
Pension and post-retirement assets				626
Other noncurrent assets				8
Intangible assets				1,200
Goodwill				1,367
Accounts payable				(192)
Contract liabilities				(162)
Accrued expenses				(255)
Finance and operating lease liabilities				(148)
Pension and post-retirement obligations				(56)
Deferred tax liabilities				(383)
Other noncurrent liabilities				(93)
Net assets acquired				$ 2,893
Acquisition A23
Asset Acquisition [Line Items]
Cash paid at closing	$ 30
Cash deposited into escrow	5
Accrued consideration	3
Total net consideration	38
Accounts receivable	8
Contract assets	1
Intangible assets	13
Goodwill	20
Accounts payable	(1)
Contract liabilities	(3)
Net assets acquired	$ 38

ASSETS HELD FOR SALE - Narrativ

ASSETS HELD FOR SALE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2023	Oct. 03, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Asset impairment charges	$ 13
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale of company in Specialty Services segment, consideration		$ 37

ASSETS HELD FOR SALE (Details)

ASSETS HELD FOR SALE (Details) - Discontinued Operations, Held-for-Sale $ in Millions	Sep. 30, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable	$ 14
Inventories	2
Contract assets	6
Property and equipment, net	27
Operating lease right of use assets	2
Accounts payable	(8)
Other current liabilities	(3)
Noncurrent operating and finance leases	(3)
Total assets and liabilities held for sale	$ 37

RESTRUCTURING - Additional Info

RESTRUCTURING - Additional Information (Details) - 2022 Restructuring Program - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring liabilities	$ 28		$ 22	$ 11	$ 0
Other Accrued Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring liabilities	23
Chubb Acquisition
Restructuring Cost and Reserve [Line Items]
Restructuring costs	51
Scenario Forecast | Chubb Acquisition
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 105
Safety Services | Chubb Acquisition
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 21

RESTRUCTURING - Summary of Rest

RESTRUCTURING - Summary of Restructuring Program (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Restructuring Reserve [Roll Forward]
Charges	$ 17	$ 12
2022 Restructuring Program
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	22	0
Charges	26	18
Payments	(18)	(6)
Restructuring Reserve, Accrual Adjustment	(1)
Currency translation adjustment	(1)	(1)
Restructuring reserve, ending balance	28	11
Employee termination benefits | 2022 Restructuring Program
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	22	0
Charges	21	18
Payments	(18)	(6)
Restructuring Reserve, Accrual Adjustment	(1)
Currency translation adjustment	(1)	(1)
Restructuring reserve, ending balance	23	11
Program related costs | 2022 Restructuring Program
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	0	0
Charges	1	0
Payments	0	0
Restructuring Reserve, Accrual Adjustment	0
Currency translation adjustment	0	0
Restructuring reserve, ending balance	1	0
Asset write-downs | 2022 Restructuring Program
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	0	0
Charges	4	0
Payments	0	0
Restructuring Reserve, Accrual Adjustment	0
Currency translation adjustment	0	0
Restructuring reserve, ending balance	$ 4	$ 0

NET REVENUES - Summary of Disag

NET REVENUES - Summary of Disaggregated Net Revenues (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Net revenues	$ 1,784	$ 1,735	$ 5,169	$ 4,855
United States
Disaggregation of Revenue [Line Items]
Net revenues	1,152	1,124	3,245	3,018
France
Disaggregation of Revenue [Line Items]
Net revenues	140	125	446	417
Other
Disaggregation of Revenue [Line Items]
Net revenues	492	486	1,478	1,420
Safety Services
Disaggregation of Revenue [Line Items]
Net revenues	1,217	1,154	3,633	3,374
Safety Services | United States
Disaggregation of Revenue [Line Items]
Net revenues	595	568	1,738	1,576
Safety Services | France
Disaggregation of Revenue [Line Items]
Net revenues	140	125	446	417
Safety Services | Other
Disaggregation of Revenue [Line Items]
Net revenues	482	461	1,449	1,381
Specialty Services
Disaggregation of Revenue [Line Items]
Net revenues	569	590	1,554	1,520
Specialty Services | United States
Disaggregation of Revenue [Line Items]
Net revenues	559	565	1,525	1,481
Specialty Services | France
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Specialty Services | Other
Disaggregation of Revenue [Line Items]
Net revenues	10	25	29	39
Corporate and Eliminations
Disaggregation of Revenue [Line Items]
Net revenues	(2)	(9)	(18)	(39)
Corporate and Eliminations | United States
Disaggregation of Revenue [Line Items]
Net revenues	(2)	(9)	(18)	(39)
Life Safety
Disaggregation of Revenue [Line Items]
Net revenues	1,084	1,021	3,250	3,003
Life Safety | Safety Services
Disaggregation of Revenue [Line Items]
Net revenues	1,084	1,021	3,250	3,003
Life Safety | Specialty Services
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Heating, Ventilation, and Air Conditioning ("HVAC")
Disaggregation of Revenue [Line Items]
Net revenues	133	133	383	371
Heating, Ventilation, and Air Conditioning ("HVAC") | Safety Services
Disaggregation of Revenue [Line Items]
Net revenues	133	133	383	371
Heating, Ventilation, and Air Conditioning ("HVAC") | Specialty Services
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Infrastructure/Utility
Disaggregation of Revenue [Line Items]
Net revenues	360	341	907	849
Infrastructure/Utility | Safety Services
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Infrastructure/Utility | Specialty Services
Disaggregation of Revenue [Line Items]
Net revenues	360	341	907	849
Fabrication
Disaggregation of Revenue [Line Items]
Net revenues	42	87	155	194
Fabrication | Safety Services
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Fabrication | Specialty Services
Disaggregation of Revenue [Line Items]
Net revenues	42	87	155	194
Specialty Contracting
Disaggregation of Revenue [Line Items]
Net revenues	167	162	492	477
Specialty Contracting | Safety Services
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Specialty Contracting | Specialty Services
Disaggregation of Revenue [Line Items]
Net revenues	167	162	492	477
Corporate and Eliminations
Disaggregation of Revenue [Line Items]
Net revenues	(2)	(9)	(18)	(39)
Corporate and Eliminations | Safety Services
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Corporate and Eliminations | Specialty Services
Disaggregation of Revenue [Line Items]
Net revenues	$ 0	$ 0	$ 0	$ 0

NET REVENUES - Additional Infor

NET REVENUES - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Aggregate amount of transaction price allocated to unsatisfied performance obligation	$ 2,732
Percentage of recognized revenue of remaining performance obligations over the next 12 months	87%
Retentions receivable	$ 159	$ 150
Retentions receivable within one year	$ 27	$ 35
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Disaggregation of Revenue [Line Items]
Remaining performance obligations period	12 months

NET REVENUES - Summary of Accou

NET REVENUES - Summary of Accounts Receivable, Net of Allowances, Contract Assets and Contract Liabilities from Contracts with Customer (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Revenues [Abstract]
Accounts receivable, net of allowances	$ 1,280	$ 1,313
Contract assets	530	459
Contract liabilities	$ 474	$ 463

GOODWILL AND INTANGIBLES - Summ

GOODWILL AND INTANGIBLES - Summary of Changes In Carrying Amounts of Goodwill By Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Goodwill [Roll Forward]
Beginning Balance		$ 2,382
Acquisitions		39
Impairment of goodwill	$ (4)	(4)
Foreign currency translation		(13)
Ending Balance	2,404	2,404
Safety Services
Goodwill [Roll Forward]
Beginning Balance		2,201
Acquisitions		39
Impairment of goodwill		0
Foreign currency translation		(13)
Ending Balance	2,227	2,227
Specialty Services
Goodwill [Roll Forward]
Beginning Balance		181
Acquisitions		0
Impairment of goodwill		(4)
Foreign currency translation		0
Ending Balance	$ 177	$ 177

GOODWILL AND INTANGIBLES - Su_2

GOODWILL AND INTANGIBLES - Summary of Identifiable Intangible Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,369	$ 2,365
Accumulated Amortization	(745)	(581)
Net Carrying Amount	$ 1,624	$ 1,784
Contractual backlog
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives (in Years)	3 months 18 days	10 months 24 days
Gross Carrying Amount	$ 154	$ 153
Accumulated Amortization	(146)	(126)
Net Carrying Amount	$ 8	$ 27
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives (in Years)	9 years 6 months	10 years
Gross Carrying Amount	$ 1,513	$ 1,508
Accumulated Amortization	(477)	(367)
Net Carrying Amount	$ 1,036	$ 1,141
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives (in Years)	12 years 4 months 24 days	13 years 2 months 12 days
Gross Carrying Amount	$ 702	$ 704
Accumulated Amortization	(122)	(88)
Net Carrying Amount	$ 580	$ 616

GOODWILL AND INTANGIBLES - Su_3

GOODWILL AND INTANGIBLES - Summary of Amortization Expense Recognized on Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 56	$ 51	$ 167	$ 165
Cost of revenues
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	7	15	20	22
Selling, general, and administrative expenses
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 49	$ 36	$ 147	$ 143

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Fair Value Measurement Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 126	$ 113
Financial assets	126	113
Financial liabilities	(7)	(4)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	126	113
Financial liabilities	(1)	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	(6)	(4)
Derivatives designated as hedge instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	125	113
Derivatives designated as hedge instruments | Interest rate swaps | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	36	14
Derivatives designated as hedge instruments | Cross currency contracts | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	15	17
Derivatives designated as hedge instruments | Cross currency contracts | Net investment hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	27	32
Derivatives designated as hedge instruments | Cross currency contracts | Fair value hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	47	50
Derivatives designated as hedge instruments | Forward currency forward contracts | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Foreign currency forward contracts | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 1 | Interest rate swaps | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 1 | Cross currency contracts | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 1 | Cross currency contracts | Net investment hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 1 | Cross currency contracts | Fair value hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 1 | Forward currency forward contracts | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 2 | Interest rate swaps | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	36	14
Derivatives designated as hedge instruments | Level 2 | Cross currency contracts | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	15	17
Derivatives designated as hedge instruments | Level 2 | Cross currency contracts | Net investment hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	27	32
Derivatives designated as hedge instruments | Level 2 | Cross currency contracts | Fair value hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	47	50
Derivatives designated as hedge instruments | Level 2 | Forward currency forward contracts | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 3 | Interest rate swaps | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 3 | Cross currency contracts | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 3 | Cross currency contracts | Net investment hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 3 | Cross currency contracts | Fair value hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives designated as hedge instruments | Level 3 | Forward currency forward contracts | Cash flow hedges:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives not designated as hedge instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1	0
Derivatives not designated as hedge instruments | Forward currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1	0
Derivatives not designated as hedge instruments | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1	0
Derivative liability	(1)	0
Derivatives not designated as hedge instruments | Contingent consideration obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	(6)	(4)
Derivatives not designated as hedge instruments | Level 1 | Forward currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives not designated as hedge instruments | Level 1 | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Derivatives not designated as hedge instruments | Level 1 | Contingent consideration obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	0	0
Derivatives not designated as hedge instruments | Level 2 | Forward currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1	0
Derivatives not designated as hedge instruments | Level 2 | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	(1)	0
Derivatives not designated as hedge instruments | Level 2 | Contingent consideration obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	0	0
Derivatives not designated as hedge instruments | Level 3 | Forward currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivatives not designated as hedge instruments | Level 3 | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Derivatives not designated as hedge instruments | Level 3 | Contingent consideration obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	$ (6)	$ (4)

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Reconciliation of Fair Value of Contingent Consideration Obligations (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) arrangement
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 4
Issuances	3
Settlements	(1)
Adjustments to fair value	0
Balance at end of period	$ 6
Number of open contingent consideration arrangements at the end of the period | arrangement	2
Maximum potential payout at the end of the period	$ 6

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Carrying And Fair Value Of Non-Variable Interest Rate Debt (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments of long term debt			$ 206	$ 33
Carrying Value			$ 2,632		$ 2,832
2019 Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments of long term debt		$ 200
2021 Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments of long term debt		$ 100
4.125% Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit facility, interest rate	4.125%		4.125%		4.125%
Carrying Value			$ 337		$ 337
4.750% Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit facility, interest rate	4.75%		4.75%		4.75%
Carrying Value			$ 277		$ 277
Fixed Income Interest Rate | Senior Notes | 4.125% Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit facility, interest rate			4.125%		4.125%
Fixed Income Interest Rate | Senior Notes | 4.750% Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit facility, interest rate			4.75%		4.75%
Level 2 | 2019 Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value			$ 1,027		$ 1,127
Fair Value			1,027		1,120
Level 2 | 2021 Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value			985		1,085
Fair Value			986		1,075
Level 2 | Fixed Income Interest Rate | Senior Notes | 4.125% Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value			337		337
Fair Value			285		284
Level 2 | Fixed Income Interest Rate | Senior Notes | 4.750% Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value			277		277
Fair Value			$ 242		$ 243

DERIVATIVES - Summary of Fair V

DERIVATIVES - Summary of Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	$ 2,296	$ 2,309
Other Assets	126	113
Other Noncurrent liabilities	(1)	0
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	1,120
Derivatives designated as hedging instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	2,193	2,191
Other Assets	125	113
Other Noncurrent liabilities	0	0
Derivatives designated as hedging instruments: | Interest rate swaps | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	1,120	1,120
Other Assets	36	14
Other Noncurrent liabilities	0	0
Derivatives designated as hedging instruments: | Cross currency contracts | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	120	120
Other Assets	15	17
Other Noncurrent liabilities	0	0
Derivatives designated as hedging instruments: | Cross currency contracts | Fair value hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	721	721
Other Assets	47	50
Other Noncurrent liabilities	0	0
Derivatives designated as hedging instruments: | Cross currency contracts | Net investment hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	230	230	$ 230
Other Assets	27	32
Other Noncurrent liabilities	0	0
Derivatives designated as hedging instruments: | Foreign currency forward contracts | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	2	0
Other Assets	0	0
Other Noncurrent liabilities	0	0
Derivatives not designated as hedge instruments
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	103	118
Other Assets	1	0
Other Noncurrent liabilities	(1)	0
Derivatives not designated as hedge instruments | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	103	118
Other Assets	1	0
Other Noncurrent liabilities	$ (1)	$ 0

DERIVATIVES - Summary of Effect

DERIVATIVES - Summary of Effect of Derivatives on Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivatives designated as hedging instruments: | Interest rate swaps | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	$ 8	$ 1	$ 23	$ (3)
Derivatives designated as hedging instruments: | Cross currency contracts | Cash flow hedges: | Investment income and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	3	7	1	15
Derivatives designated as hedging instruments: | Cross currency contracts | Cash flow hedges: | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	1	1	2	2
Derivatives designated as hedging instruments: | Cross currency contracts | Fair value hedges: | Investment income and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	22	49	1	92
Derivatives designated as hedging instruments: | Cross currency contracts | Fair value hedges: | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	1	1	2	3
Derivatives designated as hedging instruments: | Cross currency contracts | Net investment hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	1	1	3	3
Derivatives designated as hedging instruments: | Foreign currency forward contracts | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	0	0	0	0
Derivatives not designated as hedge instruments | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	$ 0	$ 2	$ 0	$ 5

DERIVATIVES - Additional Inform

DERIVATIVES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2021	Mar. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	$ 2,296		$ 2,296				$ 2,309
Total debt obligations	2,632		2,632				2,832
Term loan facility
Derivative Instruments, Gain (Loss) [Line Items]
Total debt obligations	2,012		2,012
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Other income (expense), net	0	$ 0	0	$ (2)
2026 Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	720		720				$ 720
Derivative, fixed interest rate							3.59%
2028 Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	400		400
Derivative, fixed interest rate						3.41%
2028 Interest Rate Swap | Forward-starting Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount						$ 400
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	$ 1,120		$ 1,120
Derivative, fixed interest rate	3.52%		3.52%
Derivatives designated as hedge instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	$ 2,193		$ 2,193				$ 2,191
Derivatives designated as hedge instruments | Net Investment Hedge
Derivative Instruments, Gain (Loss) [Line Items]
Annual reduction in interest expense					$ 3
Reduction in overall effective interest rate					0.24%
Derivatives designated as hedge instruments | 2024 Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount							720
Derivatives designated as hedge instruments | Cross currency contracts | September 2027
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount					$ 26
Derivatives designated as hedge instruments | Cross currency contracts | September 2030
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount					94
Derivatives designated as hedge instruments | Cross currency contracts | Net Investment Hedge
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	230		230		$ 230		230
Unrealized pre-tax gains remaining in AOCI	$ 18		$ 18
Derivatives designated as hedge instruments | Cross currency contracts | Net Investment Hedge | United Kingdom, Pounds
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of hedges							271
Derivatives designated as hedge instruments | Cross currency contracts | Net Investment Hedge | Canada, Dollars
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of hedges							241
Derivatives designated as hedge instruments | Cross currency contracts | Net Investment Hedge | Euro Member Countries, Euro
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of hedges							$ 209

DERIVATIVES - Summary of Effe_2

DERIVATIVES - Summary of Effect of Cash Flow and Fair Value Hedge Accounting on Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Cash flow hedges: | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, cash flow hedges	$ 8	$ 35	$ 16	$ 54
Cash flow hedges: | Interest rate swaps | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCI into income, cash flow hedging	4	1	12	1
Cash flow hedges: | Cross currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, cash flow hedges	(2)	0	(3)	3
Cash flow hedges: | Cross currency contracts | Investment income and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCI into income, cash flow hedging	3	7	1	15
Cash flow hedges: | Forward currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, cash flow hedges	0	0	0	0
Cash flow hedges: | Forward currency forward contracts | Investment income and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCI into income, cash flow hedging	0	0	0	0
Fair value hedges: | Cross currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, fair value hedging	(7)	6	(3)	1
Fair value hedges: | Cross currency contracts | Investment income and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCI into income, fair value hedging	23	51	1	94
Net investment hedges: | Cross currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, net investment hedging	2	10	(3)	25
Net investment hedges: | Cross currency contracts | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCI into income, net investment hedging	$ (1)	$ (1)	$ 0	$ (1)

PROPERTY AND EQUIPMENT, NET - S

PROPERTY AND EQUIPMENT, NET - Summary of Components of Property and Equipment (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total cost	$ 608	$ 625
Accumulated depreciation	(231)	(218)
Property and equipment, net	377	407
Land
Property, Plant and Equipment [Line Items]
Total cost	$ 26	30
Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	39 years
Total cost	$ 83	98
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total cost	$ 268	313
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	1 year
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Autos and trucks
Property, Plant and Equipment [Line Items]
Total cost	$ 112	116
Autos and trucks | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	4 years
Autos and trucks | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Office equipment
Property, Plant and Equipment [Line Items]
Total cost	$ 86	35
Office equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Office equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total cost	$ 33	$ 33
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	1 year
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years

PROPERTY AND EQUIPMENT, NET - A

PROPERTY AND EQUIPMENT, NET - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 21	$ 22	$ 59	$ 60

DEBT - Summary of Debt Obligati

DEBT - Summary of Debt Obligations (Detail) - USD ($) $ in Millions	1 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Total debt obligations		$ 2,632	$ 2,832
Less: unamortized deferred financing costs		(34)	(43)
Total debt, net of deferred financing costs		2,598	2,789
Short-term and current portion of long-term debt		(256)	(206)
Long-term debt, less current portion		2,342	2,583
Term loan facility
Line of Credit Facility [Line Items]
Total debt obligations		2,012
Term loan facility | 2019 Term Loan
Line of Credit Facility [Line Items]
Total debt obligations		1,027	1,127
Term loan facility | 2021 Term Loan
Line of Credit Facility [Line Items]
Total debt obligations		985	1,085
Term loan facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Total debt obligations		$ 0	$ 0
4.125% Senior Notes
Line of Credit Facility [Line Items]
Line of credit facility, interest rate	4.125%	4.125%	4.125%
Total debt obligations		$ 337	$ 337
4.750% Senior Notes
Line of Credit Facility [Line Items]
Line of credit facility, interest rate	4.75%	4.75%	4.75%
Total debt obligations		$ 277	$ 277
Other obligations
Line of Credit Facility [Line Items]
Total debt obligations		$ 6	$ 6

DEBT - Additional Information (

DEBT - Additional Information (Detail) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Derivative notional amount		$ 2,296,000,000	$ 2,309,000,000
Acquisition of Construction Equipment and Vehicles
Short-term Debt [Line Items]
Notes payable		6,000,000	6,000,000
Interest rate swaps
Short-term Debt [Line Items]
Derivative notional amount		$ 1,120,000,000
Derivative, fixed interest rate		3.52%
2019 Term Loan
Short-term Debt [Line Items]
Line of credit outstanding		$ 1,027,000,000
Repayments of debt		100,000,000
2021 Term Loan
Short-term Debt [Line Items]
Line of credit outstanding		985,000,000
Repayments of debt		100,000,000
Term loan facility | 2019 Term Loan
Short-term Debt [Line Items]
Secured term loan		1,200,000,000
Remaining line of credit outstanding (unswapped portion)		$ 892,000,000
Term loan facility | 2019 Term Loan | Interest rate swaps
Short-term Debt [Line Items]
Derivative, fixed interest rate		3.59%
Term loan facility | 2019 Term Loan | Base Rate
Short-term Debt [Line Items]
Debt, variable interest rate		1.50%
Term loan facility | 2019 Term Loan | Eurodollar
Short-term Debt [Line Items]
Debt, variable interest rate		2.50%
Term loan facility | 2019 Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest rate swaps
Short-term Debt [Line Items]
Debt instrument term		4 years
Derivative notional amount		$ 720,000,000
Derivative, fixed interest rate		3.59%
Term loan facility | 2019 Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest rate swaps | Minimum
Short-term Debt [Line Items]
Term loan interest, basis points		2.50%
Term loan facility | 2019 Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest rate swaps | Maximum
Short-term Debt [Line Items]
Term loan interest, basis points		2.75%
Term loan facility | 2021 Term Loan
Short-term Debt [Line Items]
Secured term loan		$ 1,100,000,000
Term loan facility | 2021 Term Loan | Base Rate
Short-term Debt [Line Items]
Debt, variable interest rate		1.75%
Term loan facility | 2021 Term Loan | Eurodollar
Short-term Debt [Line Items]
Debt, variable interest rate		2.75%
Term loan facility | 2021 Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Interest rate swaps
Short-term Debt [Line Items]
Derivative notional amount		$ 400,000,000
Derivative, fixed interest rate		3.41%
Term loan facility | Revolving Credit Facility
Short-term Debt [Line Items]
Line of credit outstanding		$ 0	0
Secured term loan		$ 500,000,000
Debt instrument term		5 years
Line of credit net letters of credit outstanding		$ 484,000,000	446,000,000
Letters of credit outstanding		$ 16,000,000	$ 54,000,000
Term loan facility | Revolving Credit Facility | Base Rate
Short-term Debt [Line Items]
Debt, variable interest rate		1.25%
Term loan facility | Revolving Credit Facility | Eurodollar
Short-term Debt [Line Items]
Debt, variable interest rate		2.25%
4.125% Senior Notes
Short-term Debt [Line Items]
Line of credit facility, interest rate	4.125%	4.125%	4.125%
Repurchase amount of senior notes	$ 13,000,000	$ 337,000,000
4.125% Senior Notes | APi Group DE, Inc
Short-term Debt [Line Items]
Line of credit outstanding				$ 350,000,000
Line of credit facility, interest rate		4.125%	4.125%	4.125%
4.750% Senior Notes
Short-term Debt [Line Items]
Line of credit facility, interest rate	4.75%	4.75%	4.75%
Repurchase amount of senior notes	$ 23,000,000	$ 277,000,000
4.750% Senior Notes | APi Group DE, Inc
Short-term Debt [Line Items]
Line of credit outstanding				$ 300,000,000
Line of credit facility, interest rate		4.75%	4.75%	4.75%

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Effective tax rate	25.50%	40.50%	31.30%	24.20%
U.S. Federal income tax rate	21%	21%	21%	21%
Deferred tax assets, valuation allowance	$ 105,000,000		$ 105,000,000
Unrecognized tax benefits	6,000,000		6,000,000		$ 8,000,000
Income tax penalties and interest accrued	2,000,000		2,000,000		$ 2,000,000
Income tax interest expense	0	$ 0	0	$ 0
Unrecognized tax benefits that would impact effective tax rate	8,000,000		8,000,000
Effective income tax rate reconciliation, unrecognized tax benefits			0
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	0		0
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	21,000,000		$ 21,000,000
State and Local Jurisdiction | Minimum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, carryforward term			5 years
State and Local Jurisdiction | Maximum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, carryforward term			20 years
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 104,000,000		$ 104,000,000
Operating loss carryforwards, carryforward term			20 years
Operating loss carryback term			3 years

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Components of Net Periodic Pension Benefit (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Retirement Benefits [Abstract]
Service cost	$ 1	$ 3	$ 3	$ 9
Interest cost	16	7	47	24
Expected return on plan assets	(19)	(18)	(56)	(56)
Net periodic pension benefit	$ (2)	$ (8)	$ (6)	$ (23)

EMPLOYEE BENEFIT PLANS - Additi

EMPLOYEE BENEFIT PLANS - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
ESPP
Multiemployer Plans [Line Items]
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent			85%
Maximum number of shares purchased in offering period (in shares)			500
Maximum value of common stock purchased during period under ESPP			$ 10
Expense related to ESPP	$ 1,000	$ 1,000	4,000	$ 3,000
Multiemployer Plans
Multiemployer Plans [Line Items]
Contributions to multiemployer plans	25,000	26,000	75,000	77,000
Profit Sharing Plan
Multiemployer Plans [Line Items]
Expense recognized	$ 4,000	$ 4,000	$ 14,000	$ 10,000

RELATED-PARTY TRANSACTIONS - Ad

RELATED-PARTY TRANSACTIONS - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Common stock dividends (in shares)				413,135		584,584
Royal Oak Enterprises
Related Party Transaction [Line Items]
Revenue		$ 1		$ 3
Series B Preferred Stock
Related Party Transaction [Line Items]
Number of shares issued and sold (in shares)						800,000
Preferred stock, dividend percentage				5.50%		5.50%
Preferred stock, par value (in dollars per share)		$ 0.0001		$ 0.0001		$ 0.0001
Aggregate purchase price						$ 800
Series B Preferred Stock | Viking Purchasers
Related Party Transaction [Line Items]
Common stock dividends (in shares)		103,283	184,754	337,103	486,234
Number of shares issued and sold (in shares)						200,000
Series B Preferred Stock | Viking Purchasers | Minimum
Related Party Transaction [Line Items]
Percentage of outstanding stock owned by related party under agreement						5%
Mariposa Acquisition I V L L C
Related Party Transaction [Line Items]
Advisory services fees payable		$ 1	$ 1	$ 3	$ 3
Preferred Stock | Mariposa Acquisition I V L L C
Related Party Transaction [Line Items]
Common stock dividends (in shares)	7,539,697

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Outstanding liability for environmental obligation including asset retirement obligations	$ 17	$ 16

SHAREHOLDERS' EQUITY AND REDE_2

SHAREHOLDERS' EQUITY AND REDEEMABLE CONVERTIBLE PREFERRED STOCK - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2023 USD ($) tradingDay $ / shares shares	Sep. 30, 2022 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares
Class of Stock [Line Items]
Stock repurchase program, authorized amount | $		$ 250		$ 250
Repurchases of common stock (in shares)		656,489	738,572	1,626,493	1,951,332
Repurchases of common stock, value | $		$ 18	$ 11	$ 41	$ 33
Stock repurchase program, remaining authorized amount | $		$ 166		$ 166
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	4,000,000	4,000,000		4,000,000		4,000,000
Preferred stock, shares outstanding (in shares)	4,000,000	4,000,000		4,000,000		4,000,000
Preferred shares convertible into common share, conversion ratio				1
Percentage of annual dividend rate				20%
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	800,000	800,000		800,000		800,000
Preferred stock, shares outstanding (in shares)	800,000	800,000		800,000		800,000
Aggregate purchase price | $						$ 800
Number of shares issued and sold (in shares)						800,000
Percentage of annual dividend rate				5.50%		5.50%
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
Liquidation preference per share (in dollars per share) | $ / shares		$ 24.60		24.60
Weighted average price of common stock (in dollars per share) | $ / shares				$ 36.90
Number of trading days | tradingDay				15
Dividends issued as shares, value | $	$ 11	$ 11	$ 11	$ 22	$ 33
Preferred share dividend (in shares)	584,584	413,135	739,015	935,285	1,944,939

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Computation Earnings Per Common Share Using Two Class Method (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 54	$ 48	$ 26	$ 28	$ 30	$ (7)	$ 128	$ 51
Less stock dividend attributable to Series B Preferred Stock	(11)			(11)			(33)	(33)
Net income attributable to common shareholders	$ 35			$ 13			$ 75	$ 14
Weighted average shares outstanding - basic (in shares)	235,418,566			233,605,429			234,996,055	232,982,467
Income per common share - basic (in dollars per share)	$ 0.15			$ 0.06			$ 0.32	$ 0.06
Diluted earnings per common share:
Net income (loss)	$ 54	$ 48	$ 26	$ 28	$ 30	$ (7)	$ 128	$ 51
Less stock dividend attributable to Series B Preferred Stock	(11)			(11)			(33)	(33)
Net income attributable to common shareholders - diluted	$ 39			$ 15			$ 85	$ 16
Weighted average shares outstanding - basic (in shares)	235,418,566			233,605,429			234,996,055	232,982,467
Dilutive securities:
Restricted stock units, warrants, and stock options (in shares)	420,465			336,325			308,745	357,350
Shares issuable upon conversion of Series B Preferred Shares (in shares)	32,520,000			32,520,000			32,520,000	32,520,000
Shares issuable pursuant to the Series A Preferred Stock dividend (in shares)	1,679,291			0			1,099,296	0
Weighted average shares outstanding - diluted (in shares)	270,038,322			266,461,754			268,924,096	265,859,817
Income per common share - diluted (in dollars per share)	$ 0.15			$ 0.06			$ 0.32	$ 0.06
Series A Preferred Stock
Dilutive securities:
Percentage of annual dividend rate							20%
Annual dividend shares preferred stock (in shares)	141,194,638						141,194,638
Series A Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Less income allocable to Preferred Stock	$ (4)			$ (2)			$ (10)	$ (2)
Diluted earnings per common share:
Less income allocable to Series A Preferred Stock	$ (4)			$ (2)			$ (10)	$ (2)
Dilutive securities:
Antidilutive securities excluded from computation of earnings per share (in shares)	4,000,000			4,000,000			4,000,000	4,000,000
Dividend price per share (in dollars per share)	$ 24.3968						$ 24.3968
Series B Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Less income allocable to Preferred Stock	$ (4)			$ (2)			$ (10)	$ (2)

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2023 country segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2
Number of countries segments derive | country	20

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Reconciliation Operating Income to EBITDA (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenues	$ 1,784	$ 1,735	$ 5,169	$ 4,855
EBITDA Reconciliation
Operating income (loss)	104	61	284	113
Plus:
Investment income and other, net	4	3	9	5
Non-service pension benefit	3	10	9	32
Gain (loss) on extinguishment of debt, net	0	5	(3)	5
Depreciation	21	22	59	60
Amortization	56	51	167	165
EBITDA	188	152	525	380
Total assets	7,949	7,941	7,949	7,941	$ 8,091
Capital expenditures	18	26	64	60
Safety Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenues	1,217	1,154	3,633	3,374
EBITDA Reconciliation
Operating income (loss)	98	60	292	186
Plus:
Investment income and other, net	2	1	2	2
Non-service pension benefit	3	10	9	32
Gain (loss) on extinguishment of debt, net		0	0	0
Depreciation	8	8	21	20
Amortization	42	37	125	120
EBITDA	153	116	449	360
Total assets	5,983	5,879	5,983	5,879
Capital expenditures	5	5	19	16
Specialty Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenues	569	590	1,554	1,520
EBITDA Reconciliation
Operating income (loss)	43	45	84	70
Plus:
Investment income and other, net	1	2	6	5
Non-service pension benefit	0	0	0	0
Gain (loss) on extinguishment of debt, net		0	0	0
Depreciation	13	12	37	35
Amortization	13	14	39	43
EBITDA	70	73	166	153
Total assets	1,315	1,357	1,315	1,357
Capital expenditures	10	16	41	37
Corporate and Eliminations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenues	(2)	(9)	(18)	(39)
EBITDA Reconciliation
Operating income (loss)	(37)	(44)	(92)	(143)
Plus:
Investment income and other, net	1		1	(2)
Gain (loss) on extinguishment of debt, net		5	(3)	5
Depreciation		2	1	5
Amortization	1		3	2
EBITDA	(35)	(37)	(90)	(133)
Total assets	651	705	651	705
Capital expenditures	$ 3	$ 5	$ 4	$ 7

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Millions		9 Months Ended
	Oct. 11, 2023	Sep. 30, 2023	Oct. 03, 2023
2019 Term Loan
Subsequent Event [Line Items]
Repayments of debt		$ 100
Total debt obligations		1,027
2021 Term Loan
Subsequent Event [Line Items]
Repayments of debt		100
Total debt obligations		$ 985
Subsequent Event | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Subsequent Event [Line Items]
Sale of company in Specialty Services segment, consideration			$ 37
Subsequent Event | 2019 Term Loan
Subsequent Event [Line Items]
Basis points	0.25%
2019 term loan, amount extended	$ 422
Subsequent Event | 2019 Term Loan | Term loan facility
Subsequent Event [Line Items]
Repayments of debt	100
Total debt obligations	$ 505
Subsequent Event | 2021 Term Loan
Subsequent Event [Line Items]
Basis points	0.25%
Subsequent Event | 2021 Term Loan | Term loan facility
Subsequent Event [Line Items]
Total debt obligations	$ 1,407