APi (APG) 10-Q 31 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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		274,775,770
Entity Central Index Key	0001796209
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 487	$ 479
Accounts receivable, net of allowances of $4 and $5 at September 30, 2024 and December 31, 2023, respectively	1,344	1,395
Inventories	155	150
Contract assets	553	436
Prepaid expenses and other current assets	152	122
Total current assets	2,691	2,582
Property and equipment, net	387	385
Operating lease right of use assets	264	233
Goodwill	2,931	2,471
Intangible assets, net	1,732	1,620
Deferred tax assets	68	113
Pension and post-retirement assets	103	111
Other assets	69	75
Total assets	8,245	7,590
Current liabilities:
Short-term and current portion of long-term debt	5	5
Accounts payable	454	472
Contingent consideration and compensation liabilities	20	22
Accrued salaries and wages	342	363
Contract liabilities	570	526
Operating and finance leases	89	75
Other accrued liabilities	301	344
Total current liabilities	1,781	1,807
Long-term debt, less current portion	2,847	2,322
Pension and post-retirement obligations	52	50
Contingent consideration and compensation liabilities	23	11
Operating and finance leases	193	172
Deferred tax liabilities	248	233
Other noncurrent liabilities	134	127
Total liabilities	5,278	4,722
Commitments and contingencies (Note 14)
Mezzanine equity:
5.5% Series B Redeemable Convertible Preferred Stock, $0.0001 par value, 0 and 800,000 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	0	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, 2024 and December 31, 2023	0	0
Common stock; $0.0001 par value, 500,000,000 authorized shares, 274,761,552 shares and 235,575,316 shares issued at September 30, 2024 and December 31, 2023, respectively (excluding 8,281,148 shares declared for stock dividend at December 31, 2023)	0	0
Additional paid-in capital	3,300	2,572
Retained earnings (accumulated deficit)	148	(11)
Accumulated other comprehensive loss	(481)	(490)
Total shareholders’ equity	2,967	2,071
Total liabilities, redeemable convertible preferred stock, and shareholders’ equity	$ 8,245	$ 7,590

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance for credit loss	$ 4	$ 5
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)	274,761,552	235,575,316
Common stock dividends (in shares)		8,281,148
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 issued (in shares)	0	800,000
Preferred stock, shares outstanding (in shares)	0	800,000
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

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net revenues	$ 1,826	$ 1,784	$ 5,157	$ 5,169
Cost of revenues	1,259	1,273	3,554	3,737
Gross profit	567	511	1,603	1,432
Selling, general, and administrative expenses	425	407	1,235	1,148
Operating income	142	104	368	284
Interest expense, net	41	37	110	112
Loss on extinguishment of debt, net	0	0	0	3
Investment expense (income) and other, net	1	(7)	6	(18)
Other expense, net	42	30	116	97
Income before income taxes	100	74	252	187
Income tax provision	31	20	69	59
Net income	69	54	183	128
Net income (loss) attributable to common shareholders:
Stock dividend on Series B Preferred Stock	0	(11)	(7)	(33)
Conversion of Series B Preferred Stock	0	0	(372)	0
Net income (loss) attributable to common shareholders	$ 69	$ 43	$ (196)	$ 95
Net income (loss) per common share:
Basic (in dollars per share)	$ 0.23	$ 0.15	$ (0.74)	$ 0.32
Diluted (in dollars per share)	$ 0.23	$ 0.15	$ (0.74)	$ 0.32
Weighted average shares outstanding:
Basic (in shares)	274,640,368	235,418,566	265,308,881	234,996,055
Diluted (in shares)	275,919,951	270,038,322	265,308,881	268,924,096

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 69	$ 54	$ 183	$ 128
Other comprehensive income (loss):
Fair value change - derivatives, net of tax benefit (expense) of $7, $—, $1, and $(2), respectively	(22)	1	(5)	7
Foreign currency translation adjustment	69	(63)	26	(22)
Comprehensive income (loss)	$ 116	$ (8)	$ 204	$ 113

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Fair value change - derivatives, net of tax benefit (expense)	$ 7	$ 0	$ 1	$ (2)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Series A Preferred Stock	Series B Preferred Stock	Preferred Stock Issued and Outstanding	Common Stock Issued and Outstanding	Common Stock Issued and Outstanding Series A Preferred Stock	Common Stock Issued and Outstanding Series B Preferred Stock	Additional Paid-In Capital	(Accumulated Deficit) Retained Earnings	Accumulated Other Comprehensive Loss
Preferred stock, beginning balance (in shares) at Dec. 31, 2022				4,000,000
Beginning balance at Dec. 31, 2022	$ 2,127			$ 0	$ 0			$ 2,558	$ (164)	$ (267)
Common stock, beginning balance (in shares) at Dec. 31, 2022					233,403,912
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	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
Preferred stock, ending balance (in shares) at Mar. 31, 2023				4,000,000
Ending balance at Mar. 31, 2023	2,165			$ 0	$ 0			2,569	(138)	(266)
Common stock, ending balance (in shares) at Mar. 31, 2023					235,212,900
Preferred stock, beginning balance (in shares) at Dec. 31, 2022				4,000,000
Beginning balance at Dec. 31, 2022	2,127			$ 0	$ 0			2,558	(164)	(267)
Common stock, beginning balance (in shares) at Dec. 31, 2022					233,403,912
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	128
Fair value change - derivatives	7
Foreign currency translation adjustment	(22)
Preferred Stock dividend (in shares)			935,285
Preferred stock, ending balance (in shares) at Sep. 30, 2023				4,000,000
Ending balance at Sep. 30, 2023	2,232			$ 0	$ 0			2,562	(36)	(294)
Common stock, ending balance (in shares) at Sep. 30, 2023					235,146,035
Preferred stock, beginning balance (in shares) at Mar. 31, 2023				4,000,000
Beginning balance at Mar. 31, 2023	2,165			$ 0	$ 0			2,569	(138)	(266)
Common stock, beginning balance (in shares) at Mar. 31, 2023					235,212,900
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	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
Preferred stock, ending balance (in shares) at Jun. 30, 2023				4,000,000
Ending balance at Jun. 30, 2023	2,247			$ 0	$ 0			2,565	(90)	(228)
Common stock, ending balance (in shares) at Jun. 30, 2023					235,270,405
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	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
Preferred stock, ending balance (in shares) at Sep. 30, 2023				4,000,000
Ending balance at Sep. 30, 2023	2,232			$ 0	$ 0			2,562	(36)	(294)
Common stock, ending balance (in shares) at Sep. 30, 2023					235,146,035
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred Stock dividend (in shares)			337,044
Preferred stock, ending balance (in shares) at Dec. 31, 2023		4,000,000	800,000	4,000,000
Ending balance at Dec. 31, 2023	2,071			$ 0	$ 0			2,572	(11)	(490)
Common stock, ending balance (in shares) at Dec. 31, 2023					235,575,316
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	45								45
Fair value change - derivatives	13									13
Foreign currency translation adjustment	(42)									(42)
Gain on dedesignated derivatives amortized from AOCI into income	(4)									(4)
Preferred Stock dividend (in shares)						7,944,104	620,240
Series B Preferred Stock dividend	0							7	(7)
Conversion of Series B Preferred Stock, net (in shares)					16,260,163
Conversion of Series B Preferred Stock, net	197							214	(17)
Profit sharing plan contributions (in shares)					510,319
Profit sharing plan contributions	18							18
Share-based compensation and other, net (in shares)					726,809
Share-based compensation and other, net	3							3
Preferred stock, ending balance (in shares) at Mar. 31, 2024				4,000,000
Ending balance at Mar. 31, 2024	2,301			$ 0	$ 0			2,814	10	(523)
Common stock, ending balance (in shares) at Mar. 31, 2024					261,636,951
Preferred stock, beginning balance (in shares) at Dec. 31, 2023		4,000,000	800,000	4,000,000
Beginning balance at Dec. 31, 2023	2,071			$ 0	$ 0			2,572	(11)	(490)
Common stock, beginning balance (in shares) at Dec. 31, 2023					235,575,316
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	183
Fair value change - derivatives	(5)
Foreign currency translation adjustment	26
Preferred Stock dividend (in shares)			283,196
Preferred stock, ending balance (in shares) at Sep. 30, 2024		4,000,000	0	4,000,000
Ending balance at Sep. 30, 2024	2,967			$ 0	$ 0			3,300	148	(481)
Common stock, ending balance (in shares) at Sep. 30, 2024					274,761,552
Preferred stock, beginning balance (in shares) at Mar. 31, 2024				4,000,000
Beginning balance at Mar. 31, 2024	2,301			$ 0	$ 0			2,814	10	(523)
Common stock, beginning balance (in shares) at Mar. 31, 2024					261,636,951
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	69								69
Fair value change - derivatives	4									4
Foreign currency translation adjustment	(1)									(1)
Gain on dedesignated derivatives amortized from AOCI into income	(4)									(4)
Issuance of common shares (in shares)					12,650,000
Issuance of common shares	458							458
Share-based compensation and other, net (in shares)					32,702
Share-based compensation and other, net	8							8
Preferred stock, ending balance (in shares) at Jun. 30, 2024				4,000,000
Ending balance at Jun. 30, 2024	2,835			$ 0	$ 0			3,280	79	(524)
Common stock, ending balance (in shares) at Jun. 30, 2024					274,319,653
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	69								69
Fair value change - derivatives	(22)									(22)
Foreign currency translation adjustment	69									69
Gain on dedesignated derivatives amortized from AOCI into income	(4)									(4)
Share-based compensation and other, net (in shares)					441,899
Share-based compensation and other, net	20							20
Preferred stock, ending balance (in shares) at Sep. 30, 2024		4,000,000	0	4,000,000
Ending balance at Sep. 30, 2024	$ 2,967			$ 0	$ 0			$ 3,300	$ 148	$ (481)
Common stock, ending balance (in shares) at Sep. 30, 2024					274,761,552

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 183	$ 128
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	60	59
Amortization	161	167
Restructuring charges, net of cash paid	(15)	17
Deferred taxes	1	5
Share-based compensation expense	26	19
Profit-sharing expense	20	14
Non-cash lease expense	73	55
Net periodic pension expense (benefit)	20	(9)
Loss on extinguishment of debt, net	0	3
Other, net	(22)	0
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable	101	23
Contract assets	(95)	(78)
Inventories	1	2
Prepaid expenses and other current assets	(28)	(62)
Accounts payable	(34)	(47)
Accrued liabilities and income taxes payable	(44)	(27)
Contract liabilities	18	9
Other assets and liabilities	(89)	(61)
Net cash provided by operating activities	337	217
Cash flows from investing activities:
Acquisitions, net of cash acquired	(647)	(57)
Purchases of property and equipment	(66)	(64)
Proceeds from sales of property and equipment	33	13
Net cash used in investing activities	(680)	(108)
Cash flows from financing activities:
Proceeds from long-term borrowings	850	0
Payments on long-term borrowings	(335)	(206)
Repurchases of common stock	0	(41)
Proceeds from issuance of common shares	458	0
Conversion of Series B Preferred Stock	(600)	0
Payments of acquisition-related consideration	(7)	(4)
Restricted shares tendered for taxes	(12)	(2)
Other financing activities	(6)	0
Net cash provided by (used in) financing activities	348	(253)
Effect of foreign currency exchange rate change on cash, cash equivalents, and restricted cash	4	(1)
Net increase (decrease) in cash, cash equivalents, and restricted cash	9	(145)
Cash, cash equivalents, and restricted cash, beginning of period	480	607
Cash, cash equivalents, and restricted cash, end of period	489	462
Supplemental cash flow disclosures:
Cash paid for interest, net of interest income	114	119
Cash paid for income taxes, net of refunds	66	70
Accrued consideration issued in business combinations	21	5
Shares of common stock issued to profit sharing plan	18	14
Shares of common stock issued for conversion of Series B Preferred Stock	$ 569	$ 0

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
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 fire and life safety, security, elevator and escalator, and specialty services with a substantial recurring revenue base and 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, 2023 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, 2023. 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, 2024 were immaterial. The Company’s share of earnings from the non-consolidated joint ventures was $2 and $1 during the three months ended September 30, 2024 and 2023, respectively, and $6 and $5 during the nine months ended September 30, 2024 and 2023, respectively. The earnings are recorded within investment expense (income) and other, net in the condensed consolidated statements of operations. The investment balances were $6 and $4 as of September 30, 2024 and December 31, 2023, respectively, and are recorded within other assets in the condensed consolidated balance sheets.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2024
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 2023 audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed on February 28, 2024. In March 2024, the SEC adopted final rules on the enhancement and standardization of climate-related disclosures, which requires disclosure of material climate-related risks, material Scope 1 and Scope 2 greenhouse gas emissions, and other matters. As it pertains to the financial statements, subject to certain materiality thresholds, the final rules require the financial statement footnotes to include certain disclosures regarding the amounts of expenses (or capitalized costs) incurred that relate to severe weather events and other natural conditions, as well as other disclosures regarding the material impact on financial estimates and assumptions of severe weather events and other natural conditions or disclosed targets or transition plans, and amounts related to carbon offsets and renewable energy credits. The disclosures will be required at the earliest in the annual financial statements for the year ended December 31, 2025, subject to legal challenges and the SEC's voluntary stay of the disclosure requirements. The Company will continue to assess the impact of the new rule on its consolidated financial statements while the stay is in place.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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 and 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. 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 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. Elevated acquisition On June 3, 2024, the Company completed its acquisition of 100% of the equity interests of Elevated Facility Services Group ("Elevated"). Elevated is a premier provider of contractually based services for all major brands of elevator and escalator equipment. Elevated is headquartered in Florida and serves customers in over 18 states. The results of the Elevated business are reported within the Company's Safety Services segment. The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of the Elevated acquisition: Cash paid at closing $ 573 Cash deposited into escrow 6 Total consideration $ 579 Cash $ 7 Accounts receivable 29 Contract assets 19 Other current assets 5 Property and equipment 5 Operating lease right of use assets 1 Intangible assets 222 Goodwill 392 Accounts payable (12) Contract liabilities (15) Other accrued liabilities (11) Current and noncurrent operating and finance lease liabilities (3) Deferred tax liabilities (55) Other noncurrent liabilities (5) Net assets acquired $ 579 The Company has not finalized its accounting for any areas of purchase price allocation related to the Elevated acquisition. The Company anticipates that it will finalize its accounting for the Elevated acquisition during the second quarter of 2025. The Company will make appropriate adjustments to the purchase price allocation prior to completion of the measurement period, as required. Based on preliminary estimates, the total amount of goodwill from the Elevated acquisition expected to be deductible for tax purposes is $19. During the nine months ended September 30, 2024, the Company incurred transaction costs of $7, which were expensed and included as a component of selling, general, and administrative expenses in the condensed consolidated statements of operations. The results of operations for Elevated are included in the consolidated financial statements of the Company from the date of acquisition. Other 2024 acquisitions During the three months ended September 30, 2024, the Company completed an acquisition included within the Safety Services segment ("Acquisition A24"). The results of the A24 business are reported within the Company's Safety Services segment. Consideration for Acquisition A24 included cash paid at closing of $24 and accrued consideration of $9. During the nine months ended September 30, 2024, the Company completed seven individually immaterial acquisitions for aggregate consideration transferred of $68, made up of cash paid at closing of $56 and accrued consideration of $12. The company has not finalized its accounting for acquisitions completed during 2024, 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 $44. The results of operations of these acquisitions are included in the Company’s condensed consolidated statements of operations from their respective dates of acquisition and were not material. Acquisition A24 Other 2024 acquisitions Cash paid at closing $ 24 $ 56 Accrued consideration 9 12 Total consideration $ 33 $ 68 Cash and cash equivalents $ 6 $ — Accounts receivable 15 1 Other current assets 3 — Property and equipment 2 3 Intangible assets 8 29 Goodwill 9 37 Accounts payable (2) — Other accrued liabilities (3) — Contract liabilities (5) (2) Net assets acquired $ 33 $ 68 2023 Acquisitions During 2023, the Company completed an acquisition included within the Safety Services segment ("Acquisition A23"). The results of the A23 business are reported within the Company's Safety Services segment. 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. During 2023, the Company completed an acquisition included within the Safety Services segment ("Acquisition B23"). The results of the B23 business are reported within the Company's Safety Services segment. Consideration for Acquisition B23 included cash paid at closing of $27 and accrued consideration of $5. During 2023, the Company completed five 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 statements of operations from their respective dates of acquisition. The Company has not finalized its accounting for Acquisition B23 and one of the individually immaterial acquisitions completed during 2023 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 $47. See Note 6 - "Goodwill and Intangibles" for the provisional goodwill assigned to each segment. The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the dates of acquisition: Acquisition A23 Acquisition B23 Other 2023 acquisitions Cash paid at closing $ 30 $ 27 $ 22 Cash deposited into escrow 5 — — Accrued consideration 3 5 2 Total consideration $ 38 $ 32 $ 24 Cash and cash equivalents $ — $ 1 $ — Accounts receivable 6 7 — Contract assets 1 2 — Other current assets — — 1 Intangible assets 13 12 11 Goodwill 21 16 14 Other accrued liabilities — (2) — Contract liabilities (3) (4) (2) Net assets acquired $ 38 $ 32 $ 24 For the three months ended September 30, 2024, net revenues and operating income from the Company's material acquisitions that closed over the previous twelve months was $64 and $5, respectively. For the nine months ended September 30, 2024, net revenues and operating income from the Company's material acquisitions that closed over the previous twelve months was $96 and $6, respectively. 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, 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 1 to 4 years. Contingent consideration arrangements are not contingent on employment and are included as part of purchase consideration at the time of the initial acquisition and are paid over a period of 1 to 4 years. The liability for deferred payments is recognized at the date of acquisition based on the Company’s best estimate and is typically payable over a period of 1 to 4 years. Deferred payments are not contingent on any future performance or employment obligations and can be offset for working capital true-ups, and representations and warranty items. The total contingent compensation arrangement liability was $3 and $9 as of September 30, 2024 and December 31, 2023, respectively. The maximum payout of these arrangements upon completion of the future performance periods was $4 and $15, inclusive of the $3 and $9, accrued as of September 30, 2024 and December 31, 2023, 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 7 - "Fair Value of Financial Instruments." The total liability for deferred payments was $31 and $17 as of September 30, 2024 and December 31, 2023, respectively, and is included in contingent consideration and compensation liabilities in the condensed consolidated balance sheets for all periods presented.

RESTRUCTURING

RESTRUCTURING	9 Months Ended
	Sep. 30, 2024
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 2025. During the nine months ended September 30, 2024, the Company incurred pre-tax restructuring costs within the Safety Services segment of $5 in connection with the Chubb restructuring program. Since the Chubb acquisition, the Company has incurred aggregate restructuring costs of $73. As of September 30, 2024, the Company had $18 in restructuring liabilities recorded in other accrued liabilities on the condensed consolidated balance sheets for this plan. In addition, the Company has incurred $12 of related costs during the nine months ended September 30, 2024, which include lease impairment charges, asset write-downs, and consulting fees. In total, the Company estimates that it will recognize approximately $125 of restructuring and other costs related to the Chubb restructuring program by the end of fiscal year 2025. 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 liabilities for the nine months ended September 30, 2024 and 2023: December 31, 2023 $ 32 Charges 5 Payments (19) September 30, 2024 $ 18 In addition to the costs noted above, the Company incurred asset write-down costs of $0 and $1 for the three and nine months ended September 30, 2024, respectively. The Company also incurred program related costs of $4 and $11 for the three and nine months ended September 30, 2024, respectively. December 31, 2022 $ 22 Charges 21 Payments (18) Reversals (1) Currency translation adjustment (1) September 30, 2023 $ 23 Additionally, during the nine months ended September 30, 2023, the Company incurred $4 of asset write-down costs, related to the abandonment of leases. The Company also incurred program related costs of $1 for the nine months ended September 30, 2023.

NET REVENUES

NET REVENUES	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [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, 2024 and 2023. Disaggregated net revenues information is as follows: Three Months Ended September 30, 2024 Safety Specialty Consolidated Life Safety $ 1,203 $ — $ 1,203 Heating, Ventilation, and Air Conditioning ("HVAC") 132 — 132 Infrastructure/Utility — 283 283 Fabrication — 63 63 Specialty Contracting — 147 147 Corporate and Eliminations — — (2) Net revenues $ 1,335 $ 493 $ 1,826 Three Months Ended September 30, 2023 Safety Specialty Consolidated Life Safety $ 1,084 $ — $ 1,084 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 Nine Months Ended September 30, 2024 Safety Specialty Consolidated Life Safety $ 3,470 $ — $ 3,470 HVAC 358 — 358 Infrastructure/Utility — 734 734 Fabrication — 160 160 Specialty Contracting — 441 441 Corporate and Eliminations — — (6) Net revenues $ 3,828 $ 1,335 $ 5,157 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 Three Months Ended September 30, 2024 Safety Specialty Corporate and Consolidated United States $ 689 $ 493 $ (2) $ 1,180 France 153 — — 153 Other 493 — — 493 Net revenues $ 1,335 $ 493 $ (2) $ 1,826 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 Nine Months Ended September 30, 2024 Safety Specialty Corporate and Consolidated United States $ 1,893 $ 1,330 $ (6) $ 3,217 France 472 — — 472 Other 1,463 5 — 1,468 Net revenues $ 3,828 $ 1,335 $ (6) $ 5,157 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 For in-process contracts, the aggregate amount of transaction price allocated to the unsatisfied performance obligations at September 30, 2024 was $2,978. The Company expects to recognize revenue on approximately 89% 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, 2024 and December 31, 2023 are as follows: Accounts Contract Contract Balance at September 30, 2024 $ 1,344 $ 553 $ 570 Balance at December 31, 2023 1,395 436 526 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, 2024 and December 31, 2023, retentions receivable were $149 and $156, respectively, while the portions that may not be received within one year were $36 and $25, respectively.

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES	9 Months Ended
	Sep. 30, 2024
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, 2024 and December 31, 2023. The changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2024 are as follows: Safety Specialty Total Goodwill as of December 31, 2023 $ 2,294 $ 177 $ 2,471 Acquisitions 446 2 448 Foreign currency translation and other, net (1) 12 — 12 Goodwill as of September 30, 2024 $ 2,752 $ 179 $ 2,931 (1) Other includes immaterial measurement period adjustments recorded during the nine months ended September 30, 2024 related to acquisitions for which the measurement period was open during the nine months ended September 30, 2024 (see Note 3 - "Business Combinations"). Intangibles The Company’s identifiable intangible assets are comprised of the following as of September 30, 2024 and December 31, 2023: September 30, 2024 Weighted Average Remaining Gross Accumulated Net Carrying Amortized intangibles: Contractual backlog 1.2 $ 167 $ (158) $ 9 Customer relationships 9.1 1,772 (641) 1,131 Trade names and trademarks 11.5 767 (175) 592 Total $ 2,706 $ (974) $ 1,732 December 31, 2023 Weighted Average Remaining Gross Accumulated Net Carrying Amortized intangibles: Contractual backlog 0.5 $ 155 $ (154) $ 1 Customer relationships 9.4 1,552 (518) 1,034 Trade names and trademarks 12.1 722 (137) 585 Total $ 2,429 $ (809) $ 1,620 Amortization expense recognized on identifiable intangible assets is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of revenues $ (1) $ 7 $ 2 $ 20 Selling, general, and administrative expenses 57 49 159 147 Total intangible asset amortization expense $ 56 $ 56 $ 161 $ 167

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [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 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, 2024 and December 31, 2023: Fair Value Measurements at September 30, 2024 Financial assets: Level 1 Level 2 Level 3 Total Derivatives designated as hedge instruments Cash flow hedges - cross currency contracts $ — $ 10 $ — $ 10 Cash flow hedges - foreign currency forward contracts — — — — Net investment hedges - cross currency contracts — 18 — 18 Fair value hedges - cross currency contracts — 11 — 11 Derivatives not designated as hedge instruments Foreign currency forward contracts — 1 — 1 Total $ — $ 40 $ — $ 40 Financial liabilities: Derivatives designated as hedge instruments Cash flow hedges - interest rate swaps — (4) — (4) Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Contingent consideration obligations — — (9) (9) Total $ — $ (4) $ (9) $ (13) Fair Value Measurements at December 31, 2023 Financial assets: Level 1 Level 2 Level 3 Total Derivatives designated as hedge instruments Cash flow hedges - interest rate swaps $ — $ 7 $ — $ 7 Cash flow hedges - cross currency contracts — 10 — 10 Cash flow hedges - foreign currency forward contracts — — — — Net investment hedges - cross currency contracts — 20 — 20 Fair value hedges - cross currency contracts — 17 — 17 Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Total $ — $ 54 $ — $ 54 Financial liabilities: Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Contingent consideration obligations — — (6) (6) Total $ — $ — $ (6) $ (6) 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, 2023 $ 6 Issuances 9 Settlements (6) Balance as of September 30, 2024 $ 9 Number of open contingent consideration arrangements at the end of the period 6 Maximum potential payout at the end of the period $ 9 At September 30, 2024, the remaining open contingent consideration arrangements are set to expire at various dates through 2026. 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, 2024. Fair value estimates The following table presents the carrying amount and fair value of the Company’s variable and non-variable interest rate debt (instruments defined in Note 10 –“Debt”), including current portions and excluding unamortized debt issuance costs. Fair value is estimated by discounting future cash flows at currently available rates for borrowing arrangements with similar terms and conditions, which are considered to be Level 2 inputs under the fair value hierarchy. The interest rates of the variable interest rate long-term debt instruments are generally reset monthly. During the first quarter of 2024, the Company upsized the 2021 Term Loan by an aggregate principal amount equal to $300. During the second quarter of 2024, the Company upsized the 2021 Term Loan by an aggregate principal amount equal to $550 and repriced the 2021 Term Loan and repaid the remaining $330 of the 2019 Term Loan. September 30, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value 2019 Term Loan $ — $ — $ 330 $ 331 2021 Term Loan 2,257 2,257 1,407 1,407 4.125% Senior Notes 337 316 337 305 4.750% Senior Notes 277 264 277 257

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2024
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, 2024. The following table presents the fair value of derivative instruments: September 30, 2024 December 31, 2023 Outstanding Gross Other Assets Other Outstanding Gross Other Assets Other Derivatives designated as hedging instruments: Cash flow hedges: Interest rate swaps $ 1,840 $ — $ 4 $ 1,120 $ 7 $ — Cross currency contracts 120 10 — 120 10 — Foreign currency forward contracts 3 — — — — — Fair value hedges: Cross currency contracts 737 11 — 721 17 — Net investment hedges: Cross currency contracts 230 18 — 230 20 — Total derivatives designated as hedging instruments 2,930 39 4 2,191 54 — Derivatives not designated as hedging instruments: Foreign currency forward contracts 109 1 — 73 — 1 Total derivatives not designated as hedging instruments 109 1 — 73 — 1 Total derivatives $ 3,039 $ 40 $ 4 $ 2,264 $ 54 $ 1 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, 2024 2023 Cash flow hedging relationships: Interest rate swaps Interest expense, net $ 9 $ 8 Cross currency contracts Investment expense (income) and other, net (4) 3 Cross currency contracts Interest expense, net 1 1 Foreign currency forward contracts Investment expense (income) and other, net — — Fair value hedging relationships: Cross currency contracts Investment expense (income) and other, net (26) 22 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 expense (income) and other, net — — Amount of income (expense) recognized in income Derivatives Location of income (expense) Nine Months Ended September 30, 2024 2023 Cash flow hedging relationships: Interest rate swaps Interest expense, net $ 27 $ 23 Cross currency contracts Investment expense (income) and other, net (1) 1 Cross currency contracts Interest expense, net 2 2 Foreign currency forward contracts Investment expense (income) and other, net — — Fair value hedging relationships: Cross currency contracts Investment expense (income) and other, net (11) 1 Cross currency contracts Interest expense, net 2 2 Net investment hedging relationships: Cross currency contracts Interest expense, net 3 3 Not designated as hedging instruments: Foreign currency forward contracts Investment expense (income) and other, net — — Currency Effects The income (expense) from derivatives designed to offset foreign currency exposure and recorded in investment expense (income) and other, net were offset by foreign currency transaction gains and losses resulting in a net gain (loss) of $1 and $0 for the three months ended September 30, 2024 and 2023, respectively, and $(1) and $0 for the nine months ended September 30, 2024 and 2023, 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 2024 2023 2024 2023 Cash flow hedging relationships: Interest rate swaps $ (20) $ 8 Interest expense, net $ 4 $ 4 Cross currency contracts 1 (2) Investment expense (income) and other, net (4) 3 Forward currency forward contracts — — Investment expense (income) and other, net — — Fair value hedging relationships: Cross currency contracts 3 (7) Investment expense (income) and other, net (25) 23 Net investment hedging relationships: Cross currency contracts (5) 2 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 2024 2023 2024 2023 Cash flow hedging relationships: Interest rate swaps $ (8) $ 16 Interest expense, net $ 12 $ 12 Cross currency contracts — (3) Investment expense (income) and other, net (1) 1 Forward currency forward contracts — — Investment expense (income) and other, net — — Fair value hedging relationships: Cross currency contracts 3 (3) Investment expense (income) and other, net (10) 1 Net investment hedging relationships: Cross currency contracts — (3) Interest expense, net — — 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, 2024, approximately $1 of unrealized pre-tax gains remained in AOCI. The Company has an aggregate $720 notional amount interest rate swap ("2026 Interest Rate Swap") and aggregate $400 notional swaps ("2028 Interest Rate Swap"), each amended on May 19, 2023 in connection with the transition to the Secured Overnight Financing Rate ("SOFR"). Refer to Note 10 - "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. The 2028 Interest Rate Swap exchanges 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. The weighted average fixed rate of interest on these swaps was approximately 3.52%. During the three months ended September 30, 2024, the Company entered into a $720 notional amount forward starting interest rate swap that exchanges a variable rate of interest (SOFR) for an average fixed rate of interest of approximately 3.13% over the term of the agreement, commencing in October 2026 and maturing in January 2029 ("2029 Interest Rate Swap"). Upon commencement, the 2029 Interest Rate Swap will cover the remainder of the interest payments starting in October 2026 to the maturity of the 2021 Term Loan. As of September 30, 2024, the Company had $1,840 notional amount outstanding in the 2026 Interest Rate Swap, the 2028 Interest Rate Swap, and the 2029 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 loan of $2,257. 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. In January 2022, the Company entered into three cross-currency swaps each with maturity dates of January 2027 and are designated as fair value hedges with gross notional U.S. dollar equivalents of $271, $241, and $209 in GBP, CAD, and EUR, respectively. In the second quarter of 2024, the Company entered into a cross-currency swap with a maturity date of June 2029 and designated it as a fair value hedge with gross notional U.S. dollar equivalent of $16 in AUD. The Company measures the effectiveness of fair value hedges 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 to July 2029 and modifying the U.S. dollar and Euro coupons. The amended swap was redesignated as a net investment hedge and is recorded at fair value with changes recorded in AOCI. 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. 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

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET The components of property and equipment as of September 30, 2024 and December 31, 2023 are as follows: Estimated September 30, December 31, Land N/A $ 21 $ 27 Building 39 102 105 Machinery, equipment, and office equipment 1-20 394 353 Autos and trucks 4-10 115 112 Leasehold improvements 1-15 49 35 Total cost 681 632 Accumulated depreciation (294) (247) Property and equipment, net $ 387 $ 385

DEBT

DEBT	9 Months Ended
	Sep. 30, 2024
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 $ — $ 330 2021 Term Loan January 3, 2029 2,257 1,407 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 5 5 Total debt obligations 2,876 2,356 Less: unamortized deferred financing costs (24) (29) Total debt, net of deferred financing costs 2,852 2,327 Less: short-term and current portion of long-term debt (5) (5) Long-term debt, less current portion $ 2,847 $ 2,322 Term loan facility During the second quarter of 2024, the Company completed its Sixth Amendment to its credit agreement, refinancing the 2021 Term Loan through an upsizing and repricing and repaying the 2019 Term Loan. The repricing reduced the applicable margin on the 2021 Term Loan by 50 basis points and removed the credit spread adjustment ("CSA"). As part of the transaction, the Company incurred approximately $550 of incremental principal on the 2021 Term Loan. The proceeds were used to repay the remaining $330 of the 2019 Term Loan, repay $100 of the Revolving Credit Facility outstanding, and for general corporate purposes, including to partially fund the Elevated acquisition. During the first quarter of 2024, the Company completed its Fifth Amendment to its credit agreement, upsizing its 2021 Term Loan by an aggregate principal amount equal to $300. The loan proceeds were directed as consideration for a portion of the purchase price for the Series B Preferred Stock Conversion. For additional information regarding the Series B Preferred Stock Conversion, see Note 15 - "Shareholders' Equity and Redeemable Convertible Preferred Stock." As of September 30, 2024, the Company had $0 of principal outstanding under the $1,200 term loan (the "2019 Term Loan") with a maturity date of October 1, 2026. As of September 30, 2024, the Company had $2,257 of principal outstanding under the incremental term loan used to finance the Chubb acquisition (the "2021 Term Loan") with a maturity date of January 3, 2029. 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 1.00% or (2) Term SOFR rate (adjusted for statutory reserves) plus an applicable margin equal to 2.00%. 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. As of September 30, 2024 and December 31, 2023, the Company had no amounts outstanding under the Revolving Credit Facility, and $495 and $495 was available at September 30, 2024 and December 31, 2023, respectively, after giving effect to $5 and $5 of outstanding letters of credit, respectively. As of September 30, 2024 and December 31, 2023, the Company was in compliance with all applicable debt covenants. Swap activity As of September 30, 2024, the Company had the 2026 Interest Rate Swap with $720 of notional value, exchanging one-month SOFR for a fixed rate of 3.59% per annum and the 2028 Interest Rate Swap with aggregate $400 notional value, 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 $1,137 of the term loan balance will bear interest based on one-month SOFR plus 200 basis points, but the rate will fluctuate as SOFR fluctuates. During the three months ended September 30, 2024, the Company entered into a $720 notional amount forward starting interest rate swap that exchanges a variable rate of interest (SOFR) for an average fixed rate of interest of approximately 3.13% over the term of the agreement, commencing in October 2026 and maturing in January 2029. Refer to Note 8 - "Derivatives" for additional information. 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 balance as of September 30, 2024 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 balance as of September 30, 2024 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, 2024, and December 31, 2023. Other obligations As of September 30, 2024 and December 31, 2023, the Company had $5 and $5 in notes outstanding, respectively, for working capital purposes and the acquisition of equipment and vehicles.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
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 30.9% and 25.5% for the three months ended September 30, 2024 and 2023, respectively, and 27.2% and 31.3% for the nine months ended September 30, 2024, and 2023, 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, 2024 and 2023 is due to nondeductible permanent items, taxes on foreign earnings in jurisdictions that have higher tax rates, state taxes, and discrete items. As of September 30, 2024, the Company’s deferred tax assets included a valuation allowance of $116 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, 2024, the Company had gross federal, state, and foreign net operating loss carryforwards of approximately $0, $19, and $98, respectively. The state net operating losses have carryforward periods of five 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, 2024, and December 31, 2023, the total gross unrecognized tax benefits were $9 and $7, respectively. The Company had accrued gross interest and penalties as of September 30, 2024 and December 31, 2023 of $3 and $2, respectively. During the three and nine months ended September 30, 2024 and 2023, the Company did not recognize net interest expense. If all of the Company’s unrecognized tax benefits as of September 30, 2024 were recognized, $11 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, 2024, 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.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2024
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. The components of the net periodic pension cost (benefit) for the defined benefit pension plans are as follows: Three Months Ended September 30, 2024 2023 Service cost $ 1 $ 1 Interest cost 15 16 Expected return on plan assets (10) (19) Net periodic pension cost (benefit) $ 6 $ (2) Nine Months Ended September 30, 2024 2023 Service cost $ 4 $ 3 Interest cost 45 47 Expected return on plan assets (31) (56) Net periodic pension cost (benefit) $ 18 $ (6) 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 cost 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 $25 during the three months ended September 30, 2024 and 2023, respectively, and $69 and $75 during the nine months ended September 30, 2024 and 2023, 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 $9 and $4 in expense for shares distributed to eligible employees during the three months ended September 30, 2024 and 2023, respectively, and $20 and $14 in expense during the nine months ended September 30, 2024 and 2023, 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 and $1 of expense during the three months ended September 30, 2024 and 2023, respectively, and $4 and $4 of expense during the nine months ended September 30, 2024 and 2023, respectively.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2024
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, 2024 and 2023 and $3 during each of the nine months ended September 30, 2024 and 2023, 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, 2023 and settled in 7,944,104 shares issued during January 2024. The shares were issued 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 for an aggregate purchase price of $200. During the nine months ended September 30, 2024, the Company issued dividends of 155,059 shares of common stock on the Series B Preferred Stock held by Viking Purchasers, with 70,798 shares declared in February 2024 and 84,261 shares declared in December 2023. The Company declared and issued dividends of 103,283 and 337,103 shares of common stock on the Series B Preferred Stock held by the Viking Purchasers during the three and nine months ended September 30, 2023, respectively. During the first quarter of 2024, the Company executed an agreement with the Viking Purchasers which allowed the exercise of their right to convert all of their Series B Preferred Stock into common stock. For additional information regarding the Series B Preferred Stock Conversion, see Note 15 -"Shareholders' Equity and Redeemable Convertible Preferred Stock." From time to time, the Company also enters other immaterial related-party transactions.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
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, 2024
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, 2024 ("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 December 31, 2026. Common stock During the second quarter of 2024, the Company issued 12,650,000 shares of the Company’s common stock in a public underwritten offering. The proceeds from this offering totaled approximately $458, net of related expenses. The Company used net proceeds from this offering to finance a portion of the consideration for the Elevated acquisition and for general corporate purposes. Stock Repurchases During the first quarter of 2024, the Company's Board of Directors authorized a stock repurchase program ("SRP") to purchase up to an aggregate of $1,000 of shares of the Company's common stock. This stock repurchase program is indefinite, unless otherwise modified or terminated by the Board of Directors at any time in its sole discretion. The SRP authorizes open market, private, and accelerated share repurchase transactions. During the three and nine months ended September 30, 2024 the Company repurchased 0 and 16,260,160 shares of common stock for approximately $0 and $600, respectively. The repurchases during the nine months ended September 30, 2024 were related to the Series B Preferred Stock Conversion, see below for more information. As of September 30, 2024, the Company had approximately $400 of authorized repurchases remaining under the SRP. During 2022, the Board of Directors authorized the Company to purchase up to an aggregate of $250 of shares of the Company’s common stock pursuant to the stock repurchase program ("2022 SRP"). The 2022 SRP expired on February 29, 2024. During the three and nine months ended September 30, 2023, the Company repurchased 656,489 and 1,626,493 shares of common stock for approximately $18 and $41, respectively, under the 2022 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. On February 28, 2024, the Company entered into a Conversion and Repurchase Agreement with Juno Lower Holdings L.P. ("Juno Lower Holdings"), FD Juno Holdings L.P. ("FD Juno Holdings", and together with Juno Lower Holdings, "Blackstone"), Viking Global Equities Master Ltd. ("VGEM") and Viking Global Equities II L.P. (VGE II, and collectively with VGEM, "Viking" and collectively with the Blackstone, the "Series B Holders") pursuant to which Blackstone and Viking agreed to convert all of the outstanding shares of the Series B Preferred Stock that they hold, which represents all of the Series B Preferred Stock outstanding. The transactions contemplated by the agreement (the "Series B Preferred Stock Conversion") were also consummated on February 28, 2024. Under the terms of the agreement, (i) the Series B Holders each agreed to exercise their respective right to convert all of their Series B Preferred Stock into common stock, resulting in a total of 800,000 shares of Series B Preferred Stock being converted into approximately 32,803,519 shares of common stock of the Company (inclusive of approximately 283,196 shares attributable to accrued and unpaid dividends thereon (the "Conversion Shares") and (ii) upon issuance of the Conversion Shares, the Company agreed to immediately repurchase one-half of the Conversion Shares, on a pro rata basis, from the Series B Holders for an aggregate purchase price of $600. The fair value of the issued one-half of the remaining Conversion Shares was $569. The repurchase price was financed by (i) an incremental term facility of $300 and (ii) cash and available credit from the balance sheet. Dividends Following the Series B Preferred Stock Conversion there are no Series B Preferred Shares issued or outstanding and the former holders of Series B Preferred Stock are no longer entitled to receive cumulative dividends. The Company declared a pro rata Series B Preferred Stock dividend of $7, or 283,196 shares of common stock, during the nine months ended September 30, 2024 for the Series B Preferred Stock outstanding through February 28, 2024. The Company declared a Series B Preferred Stock dividend of $11, or 413,135 shares of common stock, during the three months ended September 30, 2023. The Company declared and issued a Series B Preferred Stock dividend of $22, or 935,285 shares of common stock, during the nine months ended September 30, 2023. The Company declared a Series B Preferred Stock dividend of $11 or 337,044 shares of common stock in December 2023 and $11 or 584,584 shares of common stock in December 2022 and issued the shares in January 2024 and January 2023, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Net 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 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 earnings per common share 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, performance shares, and market 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 shares, performance shares, market 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, 2024 2023 2024 2023 Basic earnings per common share: Net income $ 69 $ 54 $ 183 $ 128 Less income allocable to Series A Preferred Stock (7) (4) — (10) Less income allocable to Series B Preferred Stock — (4) — (10) Less stock dividend attributable to Series B Preferred Stock — (11) (7) (33) Less conversion of Series B Preferred Stock — — (372) — Net income (loss) attributable to common shareholders $ 62 $ 35 $ (196) $ 75 Weighted average shares outstanding - basic 274,640,368 235,418,566 265,308,881 234,996,055 Income (loss) per common share - basic $ 0.23 $ 0.15 $ (0.74) $ 0.32 Diluted earnings per common share: Net income $ 69 $ 54 $ 183 $ 128 Less income allocable to Series A Preferred Stock (7) (4) — (10) Less stock dividend attributable to Series B Preferred Stock — (11) (7) (33) Less conversion of Series B Preferred Stock — — (372) — Net income (loss) attributable to common shareholders - diluted $ 62 $ 39 $ (196) $ 85 Weighted average shares outstanding - basic 274,640,368 235,418,566 265,308,881 234,996,055 Dilutive securities: (1) Restricted stock units, warrants, and stock options 1,279,583 420,465 — 308,745 Shares issuable upon conversion of Series B Preferred Shares — 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 275,919,951 270,038,322 265,308,881 268,924,096 Income (loss) per common share - diluted $ 0.23 $ 0.15 $ (0.74) $ 0.32 1. The following items were excluded from the calculation of diluted shares as their inclusion would be anti-dilutive: a. For all periods presented, 4,000,000 shares of Series A Preferred Stock, which are convertible to the same number of common shares. b. For the nine months ended September 30, 2024, the year-to-date impact of 125,000 stock options to purchase the same number of common shares. The stock options have all been exercised as of September 30, 2024. c. For the nine months ended September 30, 2024, 1,279,583 time-based, performance-based, and market-based restricted stock units. 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. For the three and nine months ended September 30, 2024, the Series A Preferred Shares would not be entitled to an annual dividend because the volume weighted average price of the Company’s common shares for the last ten trading days of the period did not exceed the highest previously used share price of $33.9465.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2024
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 services, 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, 2024 Safety Specialty Corporate and Consolidated Net revenues $ 1,335 $ 493 $ (2) $ 1,826 EBITDA Reconciliation Operating income (loss) $ 148 $ 40 $ (46) $ 142 Plus: Investment (expense) income and other, net (2) 2 (1) (1) Depreciation 9 11 1 21 Amortization 42 13 1 56 EBITDA $ 197 $ 66 $ (45) $ 218 Total assets $ 6,605 $ 1,168 $ 472 $ 8,245 Capital expenditures 8 12 2 22 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 5 1 1 7 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 Nine Months Ended September 30, 2024 Safety Specialty Corporate and Consolidated Net revenues $ 3,828 $ 1,335 $ (6) $ 5,157 EBITDA Reconciliation Operating income (loss) $ 412 $ 82 $ (126) $ 368 Plus: Investment (expense) income and other, net (12) 7 (1) (6) Depreciation 24 33 3 60 Amortization 120 39 2 161 EBITDA $ 544 $ 161 $ (122) $ 583 Total assets $ 6,605 $ 1,168 $ 472 $ 8,245 Capital expenditures 19 35 12 66 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 11 6 1 18 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

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On October 1, 2024, the Company completed an acquisition in the Safety Services Segment. The aggregate consideration paid by the Company was approximately $104.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 69	$ 69	$ 45	$ 54	$ 48	$ 26	$ 183	$ 128

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Mr. Ashken [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 7, 2024, Mr. Ashken adopted a Rule 10b5-1 trading arrangement providing for the sale of the Company's common stock (a "Rule 10b5-1 Trading Plan") that is intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c). Mr. Ashken’s Rule 10b5-1 Trading Plan provides for the sale of up to 550,000 shares of our common stock pursuant to one or more limit orders until June 13, 2025, or earlier if all transactions under the trading arrangement are completed.
Name	Mr. Ashken
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 7, 2024
Expiration Date	June 13, 2025
Arrangement Duration	310 days
Aggregate Available	550,000	550,000
Mr. Lillie [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 8, 2024, Mr. Lillie adopted a Rule 10b5-1 Trading Plan that is intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c). Mr. Lillie’s Rule 10b5-1 Trading Plan provides for the sale of up to 750,000 shares of our common stock pursuant to one or more limit orders until June 13, 2025, or earlier if all transactions under the trading arrangement are completed.
Name	Mr. Lillie
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 8, 2024
Expiration Date	June 13, 2025
Arrangement Duration	309 days
Aggregate Available	750,000	750,000

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
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, 2023 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, 2023. 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
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 and 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. 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 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.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Summary of Fair Values of Consideration of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of the Elevated acquisition: Cash paid at closing $ 573 Cash deposited into escrow 6 Total consideration $ 579 Cash $ 7 Accounts receivable 29 Contract assets 19 Other current assets 5 Property and equipment 5 Operating lease right of use assets 1 Intangible assets 222 Goodwill 392 Accounts payable (12) Contract liabilities (15) Other accrued liabilities (11) Current and noncurrent operating and finance lease liabilities (3) Deferred tax liabilities (55) Other noncurrent liabilities (5) Net assets acquired $ 579 Acquisition A24 Other 2024 acquisitions Cash paid at closing $ 24 $ 56 Accrued consideration 9 12 Total consideration $ 33 $ 68 Cash and cash equivalents $ 6 $ — Accounts receivable 15 1 Other current assets 3 — Property and equipment 2 3 Intangible assets 8 29 Goodwill 9 37 Accounts payable (2) — Other accrued liabilities (3) — Contract liabilities (5) (2) Net assets acquired $ 33 $ 68 The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the dates of acquisition: Acquisition A23 Acquisition B23 Other 2023 acquisitions Cash paid at closing $ 30 $ 27 $ 22 Cash deposited into escrow 5 — — Accrued consideration 3 5 2 Total consideration $ 38 $ 32 $ 24 Cash and cash equivalents $ — $ 1 $ — Accounts receivable 6 7 — Contract assets 1 2 — Other current assets — — 1 Intangible assets 13 12 11 Goodwill 21 16 14 Other accrued liabilities — (2) — Contract liabilities (3) (4) (2) Net assets acquired $ 38 $ 32 $ 24

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Summary of Restructuring Program	The following table summarizes the Company's restructuring liabilities for the nine months ended September 30, 2024 and 2023: December 31, 2023 $ 32 Charges 5 Payments (19) September 30, 2024 $ 18 In addition to the costs noted above, the Company incurred asset write-down costs of $0 and $1 for the three and nine months ended September 30, 2024, respectively. The Company also incurred program related costs of $4 and $11 for the three and nine months ended September 30, 2024, respectively. December 31, 2022 $ 22 Charges 21 Payments (18) Reversals (1) Currency translation adjustment (1) September 30, 2023 $ 23

NET REVENUES (Tables)

NET REVENUES (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [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, 2024 and 2023. Disaggregated net revenues information is as follows: Three Months Ended September 30, 2024 Safety Specialty Consolidated Life Safety $ 1,203 $ — $ 1,203 Heating, Ventilation, and Air Conditioning ("HVAC") 132 — 132 Infrastructure/Utility — 283 283 Fabrication — 63 63 Specialty Contracting — 147 147 Corporate and Eliminations — — (2) Net revenues $ 1,335 $ 493 $ 1,826 Three Months Ended September 30, 2023 Safety Specialty Consolidated Life Safety $ 1,084 $ — $ 1,084 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 Nine Months Ended September 30, 2024 Safety Specialty Consolidated Life Safety $ 3,470 $ — $ 3,470 HVAC 358 — 358 Infrastructure/Utility — 734 734 Fabrication — 160 160 Specialty Contracting — 441 441 Corporate and Eliminations — — (6) Net revenues $ 3,828 $ 1,335 $ 5,157 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 Three Months Ended September 30, 2024 Safety Specialty Corporate and Consolidated United States $ 689 $ 493 $ (2) $ 1,180 France 153 — — 153 Other 493 — — 493 Net revenues $ 1,335 $ 493 $ (2) $ 1,826 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 Nine Months Ended September 30, 2024 Safety Specialty Corporate and Consolidated United States $ 1,893 $ 1,330 $ (6) $ 3,217 France 472 — — 472 Other 1,463 5 — 1,468 Net revenues $ 3,828 $ 1,335 $ (6) $ 5,157 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
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, 2024 and December 31, 2023 are as follows: Accounts Contract Contract Balance at September 30, 2024 $ 1,344 $ 553 $ 570 Balance at December 31, 2023 1,395 436 526

GOODWILL AND INTANGIBLES (Table

GOODWILL AND INTANGIBLES (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 and December 31, 2023. The changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2024 are as follows: Safety Specialty Total Goodwill as of December 31, 2023 $ 2,294 $ 177 $ 2,471 Acquisitions 446 2 448 Foreign currency translation and other, net (1) 12 — 12 Goodwill as of September 30, 2024 $ 2,752 $ 179 $ 2,931 (1) Other includes immaterial measurement period adjustments recorded during the nine months ended September 30, 2024 related to acquisitions for which the measurement period was open during the nine months ended September 30, 2024 (see Note 3 - "Business Combinations").
Summary of Identifiable Intangible Assets	The Company’s identifiable intangible assets are comprised of the following as of September 30, 2024 and December 31, 2023: September 30, 2024 Weighted Average Remaining Gross Accumulated Net Carrying Amortized intangibles: Contractual backlog 1.2 $ 167 $ (158) $ 9 Customer relationships 9.1 1,772 (641) 1,131 Trade names and trademarks 11.5 767 (175) 592 Total $ 2,706 $ (974) $ 1,732 December 31, 2023 Weighted Average Remaining Gross Accumulated Net Carrying Amortized intangibles: Contractual backlog 0.5 $ 155 $ (154) $ 1 Customer relationships 9.4 1,552 (518) 1,034 Trade names and trademarks 12.1 722 (137) 585 Total $ 2,429 $ (809) $ 1,620
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, 2024 2023 2024 2023 Cost of revenues $ (1) $ 7 $ 2 $ 20 Selling, general, and administrative expenses 57 49 159 147 Total intangible asset amortization expense $ 56 $ 56 $ 161 $ 167

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [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, 2024 and December 31, 2023: Fair Value Measurements at September 30, 2024 Financial assets: Level 1 Level 2 Level 3 Total Derivatives designated as hedge instruments Cash flow hedges - cross currency contracts $ — $ 10 $ — $ 10 Cash flow hedges - foreign currency forward contracts — — — — Net investment hedges - cross currency contracts — 18 — 18 Fair value hedges - cross currency contracts — 11 — 11 Derivatives not designated as hedge instruments Foreign currency forward contracts — 1 — 1 Total $ — $ 40 $ — $ 40 Financial liabilities: Derivatives designated as hedge instruments Cash flow hedges - interest rate swaps — (4) — (4) Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Contingent consideration obligations — — (9) (9) Total $ — $ (4) $ (9) $ (13) Fair Value Measurements at December 31, 2023 Financial assets: Level 1 Level 2 Level 3 Total Derivatives designated as hedge instruments Cash flow hedges - interest rate swaps $ — $ 7 $ — $ 7 Cash flow hedges - cross currency contracts — 10 — 10 Cash flow hedges - foreign currency forward contracts — — — — Net investment hedges - cross currency contracts — 20 — 20 Fair value hedges - cross currency contracts — 17 — 17 Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Total $ — $ 54 $ — $ 54 Financial liabilities: Derivatives not designated as hedge instruments Foreign currency forward contracts — — — — Contingent consideration obligations — — (6) (6) Total $ — $ — $ (6) $ (6)
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, 2023 $ 6 Issuances 9 Settlements (6) Balance as of September 30, 2024 $ 9 Number of open contingent consideration arrangements at the end of the period 6 Maximum potential payout at the end of the period $ 9
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 variable and non-variable interest rate debt (instruments defined in Note 10 –“Debt”), including current portions and excluding unamortized debt issuance costs. Fair value is estimated by discounting future cash flows at currently available rates for borrowing arrangements with similar terms and conditions, which are considered to be Level 2 inputs under the fair value hierarchy. The interest rates of the variable interest rate long-term debt instruments are generally reset monthly. During the first quarter of 2024, the Company upsized the 2021 Term Loan by an aggregate principal amount equal to $300. During the second quarter of 2024, the Company upsized the 2021 Term Loan by an aggregate principal amount equal to $550 and repriced the 2021 Term Loan and repaid the remaining $330 of the 2019 Term Loan. September 30, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value 2019 Term Loan $ — $ — $ 330 $ 331 2021 Term Loan 2,257 2,257 1,407 1,407 4.125% Senior Notes 337 316 337 305 4.750% Senior Notes 277 264 277 257

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 December 31, 2023 Outstanding Gross Other Assets Other Outstanding Gross Other Assets Other Derivatives designated as hedging instruments: Cash flow hedges: Interest rate swaps $ 1,840 $ — $ 4 $ 1,120 $ 7 $ — Cross currency contracts 120 10 — 120 10 — Foreign currency forward contracts 3 — — — — — Fair value hedges: Cross currency contracts 737 11 — 721 17 — Net investment hedges: Cross currency contracts 230 18 — 230 20 — Total derivatives designated as hedging instruments 2,930 39 4 2,191 54 — Derivatives not designated as hedging instruments: Foreign currency forward contracts 109 1 — 73 — 1 Total derivatives not designated as hedging instruments 109 1 — 73 — 1 Total derivatives $ 3,039 $ 40 $ 4 $ 2,264 $ 54 $ 1
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, 2024 2023 Cash flow hedging relationships: Interest rate swaps Interest expense, net $ 9 $ 8 Cross currency contracts Investment expense (income) and other, net (4) 3 Cross currency contracts Interest expense, net 1 1 Foreign currency forward contracts Investment expense (income) and other, net — — Fair value hedging relationships: Cross currency contracts Investment expense (income) and other, net (26) 22 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 expense (income) and other, net — — Amount of income (expense) recognized in income Derivatives Location of income (expense) Nine Months Ended September 30, 2024 2023 Cash flow hedging relationships: Interest rate swaps Interest expense, net $ 27 $ 23 Cross currency contracts Investment expense (income) and other, net (1) 1 Cross currency contracts Interest expense, net 2 2 Foreign currency forward contracts Investment expense (income) and other, net — — Fair value hedging relationships: Cross currency contracts Investment expense (income) and other, net (11) 1 Cross currency contracts Interest expense, net 2 2 Net investment hedging relationships: Cross currency contracts Interest expense, net 3 3 Not designated as hedging instruments: Foreign currency forward contracts Investment expense (income) and other, net — — 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 2024 2023 2024 2023 Cash flow hedging relationships: Interest rate swaps $ (20) $ 8 Interest expense, net $ 4 $ 4 Cross currency contracts 1 (2) Investment expense (income) and other, net (4) 3 Forward currency forward contracts — — Investment expense (income) and other, net — — Fair value hedging relationships: Cross currency contracts 3 (7) Investment expense (income) and other, net (25) 23 Net investment hedging relationships: Cross currency contracts (5) 2 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 2024 2023 2024 2023 Cash flow hedging relationships: Interest rate swaps $ (8) $ 16 Interest expense, net $ 12 $ 12 Cross currency contracts — (3) Investment expense (income) and other, net (1) 1 Forward currency forward contracts — — Investment expense (income) and other, net — — Fair value hedging relationships: Cross currency contracts 3 (3) Investment expense (income) and other, net (10) 1 Net investment hedging relationships: Cross currency contracts — (3) Interest expense, net — —

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Summary of Components of Property and Equipment	The components of property and equipment as of September 30, 2024 and December 31, 2023 are as follows: Estimated September 30, December 31, Land N/A $ 21 $ 27 Building 39 102 105 Machinery, equipment, and office equipment 1-20 394 353 Autos and trucks 4-10 115 112 Leasehold improvements 1-15 49 35 Total cost 681 632 Accumulated depreciation (294) (247) Property and equipment, net $ 387 $ 385

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2024
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 $ — $ 330 2021 Term Loan January 3, 2029 2,257 1,407 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 5 5 Total debt obligations 2,876 2,356 Less: unamortized deferred financing costs (24) (29) Total debt, net of deferred financing costs 2,852 2,327 Less: short-term and current portion of long-term debt (5) (5) Long-term debt, less current portion $ 2,847 $ 2,322

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Components of Net Periodic Pension Benefit	The components of the net periodic pension cost (benefit) for the defined benefit pension plans are as follows: Three Months Ended September 30, 2024 2023 Service cost $ 1 $ 1 Interest cost 15 16 Expected return on plan assets (10) (19) Net periodic pension cost (benefit) $ 6 $ (2) Nine Months Ended September 30, 2024 2023 Service cost $ 4 $ 3 Interest cost 45 47 Expected return on plan assets (31) (56) Net periodic pension cost (benefit) $ 18 $ (6)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Summary of Computation Earnings Per Common Share Using Two Class Method	The following table sets forth the computation of earnings per common share 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, performance shares, and market 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 shares, performance shares, market 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, 2024 2023 2024 2023 Basic earnings per common share: Net income $ 69 $ 54 $ 183 $ 128 Less income allocable to Series A Preferred Stock (7) (4) — (10) Less income allocable to Series B Preferred Stock — (4) — (10) Less stock dividend attributable to Series B Preferred Stock — (11) (7) (33) Less conversion of Series B Preferred Stock — — (372) — Net income (loss) attributable to common shareholders $ 62 $ 35 $ (196) $ 75 Weighted average shares outstanding - basic 274,640,368 235,418,566 265,308,881 234,996,055 Income (loss) per common share - basic $ 0.23 $ 0.15 $ (0.74) $ 0.32 Diluted earnings per common share: Net income $ 69 $ 54 $ 183 $ 128 Less income allocable to Series A Preferred Stock (7) (4) — (10) Less stock dividend attributable to Series B Preferred Stock — (11) (7) (33) Less conversion of Series B Preferred Stock — — (372) — Net income (loss) attributable to common shareholders - diluted $ 62 $ 39 $ (196) $ 85 Weighted average shares outstanding - basic 274,640,368 235,418,566 265,308,881 234,996,055 Dilutive securities: (1) Restricted stock units, warrants, and stock options 1,279,583 420,465 — 308,745 Shares issuable upon conversion of Series B Preferred Shares — 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 275,919,951 270,038,322 265,308,881 268,924,096 Income (loss) per common share - diluted $ 0.23 $ 0.15 $ (0.74) $ 0.32 1. The following items were excluded from the calculation of diluted shares as their inclusion would be anti-dilutive: a. For all periods presented, 4,000,000 shares of Series A Preferred Stock, which are convertible to the same number of common shares. b. For the nine months ended September 30, 2024, the year-to-date impact of 125,000 stock options to purchase the same number of common shares. The stock options have all been exercised as of September 30, 2024. c. For the nine months ended September 30, 2024, 1,279,583 time-based, performance-based, and market-based restricted stock units. 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. For the three and nine months ended September 30, 2024, the Series A Preferred Shares would not be entitled to an annual dividend because the volume weighted average price of the Company’s common shares for the last ten trading days of the period did not exceed the highest previously used share price of $33.9465.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 Safety Specialty Corporate and Consolidated Net revenues $ 1,335 $ 493 $ (2) $ 1,826 EBITDA Reconciliation Operating income (loss) $ 148 $ 40 $ (46) $ 142 Plus: Investment (expense) income and other, net (2) 2 (1) (1) Depreciation 9 11 1 21 Amortization 42 13 1 56 EBITDA $ 197 $ 66 $ (45) $ 218 Total assets $ 6,605 $ 1,168 $ 472 $ 8,245 Capital expenditures 8 12 2 22 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 5 1 1 7 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 Nine Months Ended September 30, 2024 Safety Specialty Corporate and Consolidated Net revenues $ 3,828 $ 1,335 $ (6) $ 5,157 EBITDA Reconciliation Operating income (loss) $ 412 $ 82 $ (126) $ 368 Plus: Investment (expense) income and other, net (12) 7 (1) (6) Depreciation 24 33 3 60 Amortization 120 39 2 161 EBITDA $ 544 $ 161 $ (122) $ 583 Total assets $ 6,605 $ 1,168 $ 472 $ 8,245 Capital expenditures 19 35 12 66 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 11 6 1 18 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

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - (Details) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024 USD ($) location joint_venture	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2024 USD ($) joint_venture location	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Product Information [Line Items]
Number of locations | location	500						500
Number of consolidated joint ventures | joint_venture	1						1
Net income	$ 69	$ 69	$ 45	$ 54	$ 48	$ 26	$ 183	$ 128
Joint Ventures
Product Information [Line Items]
Net income	2			$ 1			6	$ 5
Investment balance	$ 6						$ 6		$ 4

BUSINESS COMBINATIONS - Additio

BUSINESS COMBINATIONS - Additional Information (Details) $ in Millions		3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 03, 2024 USD ($) state	Sep. 30, 2024 USD ($) arrangement	Sep. 30, 2024 USD ($) arrangement business	Dec. 31, 2023 USD ($) business
Business Acquisition [Line Items]
Goodwill, expected tax deductible amount		$ 44	$ 44	$ 47
Accrued consideration		9	9	$ 6
Immaterial acquisitions, accounting not finalized (in businesses) | business				1
Net revenues from material acquisitions		64	96
Operating income from material acquisitions		$ 5	$ 6
Number of arrangements for provisions | arrangement		3	3
Elevated Acquisition
Business Acquisition [Line Items]
Equity interests acquired	100%
Number of states in which customers are served | state	18
Goodwill, expected tax deductible amount		$ 19	$ 19
Transaction costs			7
Cash paid at closing	$ 573
Total consideration	$ 579
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Cash paid at closing			56
Accrued consideration		12	$ 12
Number of businesses acquired | business			7
Total consideration			$ 68
Acquisition A24
Business Acquisition [Line Items]
Cash paid at closing		24
Accrued consideration		9	9
Total consideration		33
Acquisition A23
Business Acquisition [Line Items]
Cash paid at closing				$ 30
Accrued consideration				3
Total consideration				38
Acquisition B23
Business Acquisition [Line Items]
Cash paid at closing				27
Accrued consideration				5
Total consideration				32
Other 2023 Acquisitions
Business Acquisition [Line Items]
Cash paid at closing				22
Accrued consideration				$ 2
Number of businesses acquired | business				5
Total consideration				$ 24
APi Acquisition
Business Acquisition [Line Items]
Contingent compensation		3	3	9
Maximum payout of contingent compensation		4	4	15
Payout of accrued contingent compensation		3	3	9
Liability for deferred payments		$ 31	$ 31	$ 17
APi Acquisition | Minimum
Business Acquisition [Line Items]
Contingent compensation arrangements recognized period			1 year
Liability for deferred payments recognition period			1 year
APi Acquisition | Maximum
Business Acquisition [Line Items]
Contingent compensation arrangements recognized period			4 years
Liability for deferred payments recognition period			4 years

BUSINESS COMBINATIONS - Schedul

BUSINESS COMBINATIONS - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 03, 2024	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill		$ 2,931	$ 2,931	$ 2,471
Other noncurrent liabilities	$ (5)
Elevated Acquisition
Business Acquisition [Line Items]
Cash paid at closing	573
Cash deposited into escrow	6
Total consideration	579
Cash and cash equivalents	7
Accounts receivable	29
Contract assets	19
Other current assets	5
Property and equipment	5
Operating lease right of use assets	1
Intangible assets	222
Goodwill	392
Accounts payable	(12)
Contract liabilities	(15)
Other accrued liabilities	(11)
Current and noncurrent operating and finance lease liabilities	(3)
Deferred tax liabilities	(55)
Net assets acquired	$ 579
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Cash paid at closing			56
Accrued consideration			12
Total consideration			68
Cash and cash equivalents		0	0
Accounts receivable		1	1
Other current assets		0	0
Property and equipment		3	3
Intangible assets		29	29
Goodwill		37	37
Accounts payable		0	0
Contract liabilities		(2)	(2)
Other accrued liabilities		0	0
Net assets acquired		68	68
Acquisition A24
Business Acquisition [Line Items]
Cash paid at closing		24
Accrued consideration		9
Total consideration		33
Cash and cash equivalents		6	6
Accounts receivable		15	15
Other current assets		3	3
Property and equipment		2	2
Intangible assets		8	8
Goodwill		9	9
Accounts payable		(2)	(2)
Contract liabilities		(5)	(5)
Other accrued liabilities		(3)	(3)
Net assets acquired		$ 33	$ 33
Acquisition A23
Business Acquisition [Line Items]
Cash paid at closing				30
Accrued consideration				3
Cash deposited into escrow				5
Total consideration				38
Cash and cash equivalents				0
Accounts receivable				6
Contract assets				1
Other current assets				0
Intangible assets				13
Goodwill				21
Contract liabilities				(3)
Other accrued liabilities				0
Net assets acquired				38
Acquisition B23
Business Acquisition [Line Items]
Cash paid at closing				27
Accrued consideration				5
Cash deposited into escrow				0
Total consideration				32
Cash and cash equivalents				1
Accounts receivable				7
Contract assets				2
Other current assets				0
Intangible assets				12
Goodwill				16
Contract liabilities				(4)
Other accrued liabilities				(2)
Net assets acquired				32
Other 2023 Acquisitions
Business Acquisition [Line Items]
Cash paid at closing				22
Accrued consideration				2
Cash deposited into escrow				0
Total consideration				24
Cash and cash equivalents				0
Accounts receivable				0
Contract assets				0
Other current assets				1
Intangible assets				11
Goodwill				14
Contract liabilities				(2)
Other accrued liabilities				0
Net assets acquired				$ 24

RESTRUCTURING - Additional Info

RESTRUCTURING - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Asset impairment charges	$ 0	$ 1	$ 4
Program related costs	4	11	$ 1
2022 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring costs		12
Restructuring liabilities	18	18
Chubb Acquisition | 2022 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring costs		73
Expected restructuring costs	$ 125	125
Safety Services | Chubb Acquisition | 2022 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 5

RESTRUCTURING - Summary of Rest

RESTRUCTURING - Summary of Restructuring Program (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Charges	$ (15)	$ 17
Employee Severance | 2022 Restructuring Program
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	32	22
Charges	5	21
Payments	(19)	(18)
Reversals		(1)
Currency translation adjustment		(1)
Restructuring reserve, ending balance	$ 18	$ 23

NET REVENUES - Additional Infor

NET REVENUES - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contracts with customers, majority of contracts, term (less than)	6 months
Aggregate amount of transaction price allocated to unsatisfied performance obligation	$ 2,978
Retentions receivable	149	$ 156
Retentions receivable within one year	$ 36	$ 25
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Disaggregation of Revenue [Line Items]
Percentage of recognized revenue of remaining performance obligations over the next 12 months	89%
Remaining performance obligations period	12 months
Minimum
Disaggregation of Revenue [Line Items]
Contracts with customers, term	7 days
Maximum
Disaggregation of Revenue [Line Items]
Contracts with customers, term	3 years

NET REVENUES - Summary of Disag

NET REVENUES - Summary of Disaggregated Net Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net revenues	$ 1,826	$ 1,784	$ 5,157	$ 5,169
Corporate and Eliminations
Disaggregation of Revenue [Line Items]
Net revenues	(2)	(2)	(6)	(18)
United States
Disaggregation of Revenue [Line Items]
Net revenues	1,180	1,152	3,217	3,245
United States | Corporate and Eliminations
Disaggregation of Revenue [Line Items]
Net revenues	(2)	(2)	(6)	(18)
France
Disaggregation of Revenue [Line Items]
Net revenues	153	140	472	446
Other
Disaggregation of Revenue [Line Items]
Net revenues	493	492	1,468	1,478
Life Safety
Disaggregation of Revenue [Line Items]
Net revenues	1,203	1,084	3,470	3,250
Heating, Ventilation, and Air Conditioning ("HVAC")
Disaggregation of Revenue [Line Items]
Net revenues	132	133	358	383
Infrastructure/Utility
Disaggregation of Revenue [Line Items]
Net revenues	283	360	734	907
Fabrication
Disaggregation of Revenue [Line Items]
Net revenues	63	42	160	155
Specialty Contracting
Disaggregation of Revenue [Line Items]
Net revenues	147	167	441	492
Safety Services | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	1,335	1,217	3,828	3,633
Safety Services | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	689	595	1,893	1,738
Safety Services | France | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	153	140	472	446
Safety Services | Other | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	493	482	1,463	1,449
Safety Services | Life Safety | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	1,203	1,084	3,470	3,250
Safety Services | Heating, Ventilation, and Air Conditioning ("HVAC") | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	132	133	358	383
Safety Services | Infrastructure/Utility | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Safety Services | Fabrication | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Safety Services | Specialty Contracting | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Safety Services | Specialty Contracting | Corporate and Eliminations
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Specialty Services | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	493	569	1,335	1,554
Specialty Services | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	493	559	1,330	1,525
Specialty Services | France | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Specialty Services | France | Corporate and Eliminations
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Specialty Services | Other | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	0	10	5	29
Specialty Services | Other | Corporate and Eliminations
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Specialty Services | Life Safety | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Specialty Services | Heating, Ventilation, and Air Conditioning ("HVAC") | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Specialty Services | Infrastructure/Utility | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	283	360	734	907
Specialty Services | Fabrication | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	63	42	160	155
Specialty Services | Specialty Contracting | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	$ 147	167	441	492
Specialty Services | Specialty Contracting | Corporate and Eliminations
Disaggregation of Revenue [Line Items]
Net revenues		$ 0	$ 0	$ 0

NET REVENUES - Summary of Accou

NET REVENUES - Summary of Accounts Receivable, Net of Allowances, Contract Assets and Contract Liabilities from Contracts with Customer (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net of allowances	$ 1,344	$ 1,395
Contract assets	553	436
Contract liabilities	$ 570	$ 526

GOODWILL AND INTANGIBLES - Summ

GOODWILL AND INTANGIBLES - Summary of Changes In Carrying Amounts of Goodwill By Reportable Segments (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 2,471
Acquisitions	448
Foreign currency translation and other, net	12
Ending Balance	2,931
Safety Services
Goodwill [Roll Forward]
Beginning Balance	2,294
Acquisitions	446
Foreign currency translation and other, net	12
Ending Balance	2,752
Specialty Services
Goodwill [Roll Forward]
Beginning Balance	177
Acquisitions	2
Foreign currency translation and other, net	0
Ending Balance	$ 179

GOODWILL AND INTANGIBLES - Su_2

GOODWILL AND INTANGIBLES - Summary of Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,706	$ 2,429
Accumulated Amortization	(974)	(809)
Net Carrying Amount	$ 1,732	$ 1,620
Contractual backlog
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives (in Years)	1 year 2 months 12 days	6 months
Gross Carrying Amount	$ 167	$ 155
Accumulated Amortization	(158)	(154)
Net Carrying Amount	$ 9	$ 1
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives (in Years)	9 years 1 month 6 days	9 years 4 months 24 days
Gross Carrying Amount	$ 1,772	$ 1,552
Accumulated Amortization	(641)	(518)
Net Carrying Amount	$ 1,131	$ 1,034
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives (in Years)	11 years 6 months	12 years 1 month 6 days
Gross Carrying Amount	$ 767	$ 722
Accumulated Amortization	(175)	(137)
Net Carrying Amount	$ 592	$ 585

GOODWILL AND INTANGIBLES - Su_3

GOODWILL AND INTANGIBLES - Summary of Amortization Expense Recognized on Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 56	$ 56	$ 161	$ 167
Cost of revenues
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	(1)	7	2	20
Selling, general, and administrative expenses
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 57	$ 49	$ 159	$ 147

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Fair Value Measurement Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 40	$ 54
Financial assets	40	54
Contingent consideration obligations	(9)	(6)
Financial liabilities	(13)	(6)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Contingent consideration obligations	0	0
Financial liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	40	54
Contingent consideration obligations	0	0
Financial liabilities	(4)	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Contingent consideration obligations	(9)	(6)
Financial liabilities	(9)	(6)
Derivatives designated as hedge instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	39	54
Derivative liability	(4)
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	0	7
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	10	10
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	18	20
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	11	17
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 | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	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
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
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	(4)
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		7
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	10	10
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	18	20
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	11	17
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
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	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
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
Derivative liability	0	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 | Level 1
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 | 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 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	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 3
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 | Forward currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Reconciliation of Fair Value of Contingent Consideration Obligations (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) arrangement
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 6
Issuances	9
Settlements	(6)
Balance at end of period	$ 9
Number of open contingent consideration arrangements at the end of the period | arrangement	6
Maximum potential payout at the end of the period	$ 9

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Carrying And Fair Value Of Non-Variable Interest Rate Debt (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments of long term debt			$ 335	$ 206
Carrying Value			2,876		$ 2,356
2019 Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments of long term debt	$ 330
Term loan facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value			2,257
Term loan facility | 2019 Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments of long term debt	330
Carrying Value			0		330
Term loan facility | 2021 Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit facility, increase	$ 550	$ 300
Carrying Value			$ 2,257		$ 1,407
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			$ 0		330
Fair Value			0		331
Level 2 | 2021 Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value			2,257		1,407
Fair Value			2,257		1,407
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			316		305
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			$ 264		$ 257

DERIVATIVES - Summary of Fair V

DERIVATIVES - Summary of Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	$ 3,039	$ 2,264
Other Assets	40	54
Other Noncurrent liabilities	4	1
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	1,840
Derivatives designated as hedging instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	2,930	2,191
Other Assets	39	54
Other Noncurrent liabilities	4	0
Derivatives designated as hedging instruments: | Interest rate swaps | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	1,840	1,120
Other Assets	0	7
Other Noncurrent liabilities	4	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	10	10
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	737	721
Other Assets	11	17
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	18	20
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	3	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	109	73
Other Assets	1	0
Other Noncurrent liabilities	0	1
Derivatives not designated as hedge instruments | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding Gross Notional Amount	109	73
Other Assets	1	0
Other Noncurrent liabilities	$ 0	$ 1

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivatives designated as hedging instruments: | Interest rate swaps | Cash flow hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	$ 9	$ 8	$ 27	$ 23
Derivatives designated as hedging instruments: | Cross currency contracts | Cash flow hedges: | Investment expense (income) and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	(4)	3	(1)	1
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 expense (income) and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of income (expense) recognized in income	(26)	22	(11)	1
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	2
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	$ 0	$ 0	$ 0

DERIVATIVES - Additional Inform

DERIVATIVES - Additional Information (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2022 USD ($) swap	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2021 USD ($) swap	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	May 19, 2023 USD ($)	Dec. 31, 2022 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		$ 3,039		$ 3,039				$ 2,264
Total debt obligations		2,876		2,876				2,356
Term loan facility
Derivative Instruments, Gain (Loss) [Line Items]
Total debt obligations		2,257		2,257
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Other income (expense), net		1	$ 0	(1)	$ 0
2026 Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount									$ 720
Derivative, fixed interest rate									3.59%
2028 Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
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		$ 1,840		$ 1,840
Derivative, fixed interest rate		3.52%		3.52%
2029 Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		$ 720		$ 720
Derivative, fixed interest rate		3.13%		3.13%
Derivatives designated as hedge instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		$ 2,930		$ 2,930				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
Derivative Instruments, Gain (Loss) [Line Items]
Number of foreign currency derivatives swaps held | swap						2
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		$ 1		$ 1
Derivatives designated as hedge instruments | Cross currency contracts | Net Investment Hedge | United Kingdom, Pounds
Derivative Instruments, Gain (Loss) [Line Items]
Number of derivative swaps entered into during the period | swap	3
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 designated as hedge instruments | Cross currency contracts | Net Investment Hedge | Australia, Dollars
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of hedges							$ 16

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash flow hedges: | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, cash flow hedges	$ (20)	$ 8	$ (8)	$ 16
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	4	12	12
Cash flow hedges: | Cross currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, cash flow hedges	1	(2)	0	(3)
Cash flow hedges: | Cross currency contracts | Investment expense (income) and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCI into income, cash flow hedging	(4)	3	(1)	1
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 expense (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	3	(7)	3	(3)
Fair value hedges: | Cross currency contracts | Investment expense (income) and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCI into income, fair value hedging	(25)	23	(10)	1
Net investment hedges: | Cross currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income, net investment hedging	(5)	2	0	(3)
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	$ 0

PROPERTY AND EQUIPMENT, NET - S

PROPERTY AND EQUIPMENT, NET - Summary of Components of Property and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total cost	$ 681	$ 632
Accumulated depreciation	(294)	(247)
Property and equipment, net	387	385
Land
Property, Plant and Equipment [Line Items]
Total cost	$ 21	27
Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	39 years
Total cost	$ 102	105
Machinery, equipment, and office equipment
Property, Plant and Equipment [Line Items]
Total cost	$ 394	353
Machinery, equipment, and office equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	1 year
Machinery, equipment, and office 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	$ 115	112
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
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total cost	$ 49	$ 35
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 (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 21	$ 21	$ 60	$ 59

DEBT - Summary of Debt Obligati

DEBT - Summary of Debt Obligations (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2021
Line of Credit Facility [Line Items]
Total debt obligations	$ 2,876	$ 2,356
Less: unamortized deferred financing costs	(24)	(29)
Total debt, net of deferred financing costs	2,852	2,327
Short-term and current portion of long-term debt	(5)	(5)
Long-term debt, less current portion	2,847	2,322
Term loan facility
Line of Credit Facility [Line Items]
Total debt obligations	2,257
Term loan facility | 2019 Term Loan
Line of Credit Facility [Line Items]
Total debt obligations	0	330
Term loan facility | 2021 Term Loan
Line of Credit Facility [Line Items]
Total debt obligations	2,257	1,407
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	$ 5	$ 5

DEBT - Additional Information (

DEBT - Additional Information (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2021 USD ($)	Feb. 28, 2024 USD ($)
Short-term Debt [Line Items]
Repayments of long term debt			$ 335,000,000	$ 206,000,000
Line of credit, maximum borrowing capacity							$ 300,000,000
Derivative notional amount			3,039,000,000		$ 2,264,000,000
Acquisition of Construction Equipment and Vehicles
Short-term Debt [Line Items]
Notes payable			5,000,000		5,000,000
Interest rate swaps
Short-term Debt [Line Items]
Derivative notional amount			$ 1,840,000,000
Derivative, fixed interest rate			3.52%
2029 Interest Rate Swap
Short-term Debt [Line Items]
Derivative notional amount			$ 720,000,000
Derivative, fixed interest rate			3.13%
2019 Term Loan
Short-term Debt [Line Items]
Repayments of long term debt	$ 330,000,000
Line of credit outstanding			$ 0
2021 Term Loan
Short-term Debt [Line Items]
Debt instrument, reduction in basis spread on variable rate	0.0050
Line of credit outstanding			2,257,000,000
Term loan facility | 2019 Term Loan
Short-term Debt [Line Items]
Repayments of long term debt	$ 330,000,000
Secured term loan			1,200,000,000
Remaining line of credit outstanding (unswapped portion)			$ 1,137,000,000
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 | Secured Overnight Financing Rate (SOFR) | Interest rate swaps
Short-term Debt [Line Items]
Derivative notional amount			$ 720,000,000
Derivative, fixed interest rate			3.59%
Term loan facility | 2019 Term Loan | Secured Overnight Financing Rate (SOFR) | Interest rate swaps | Minimum
Short-term Debt [Line Items]
Term loan interest, basis points			2%
Term loan facility | 2021 Term Loan
Short-term Debt [Line Items]
Line of credit facility, increase	550,000,000	$ 300,000,000
Line of credit, maximum borrowing capacity		$ 300,000,000
Term loan facility | 2021 Term Loan | 2029 Interest Rate Swap
Short-term Debt [Line Items]
Derivative notional amount			$ 720,000,000
Derivative, fixed interest rate			3.13%
Term loan facility | 2021 Term Loan | Base Rate
Short-term Debt [Line Items]
Basis spread on variable rate			1%
Term loan facility | 2021 Term Loan | Secured Overnight Financing Rate (SOFR)
Short-term Debt [Line Items]
Debt, variable interest rate			2%
Term loan facility | 2021 Term Loan | Secured Overnight Financing Rate (SOFR) | 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]
Repayments of long term debt	$ 100,000,000
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			$ 495,000,000		495,000,000
Letters of credit outstanding			$ 5,000,000		$ 5,000,000
Term loan facility | Revolving Credit Facility | Base Rate
Short-term Debt [Line Items]
Basis spread on variable rate			1.25%
Term loan facility | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)
Short-term Debt [Line Items]
Debt, variable interest rate			2.25%
4.125% Senior Notes
Short-term Debt [Line Items]
Line of credit outstanding						$ 350,000,000
Line of credit facility, interest rate			4.125%		4.125%	4.125%
Repurchase amount of senior notes			$ 337,000,000
4.750% Senior Notes
Short-term Debt [Line Items]
Line of credit outstanding						$ 300,000,000
Line of credit facility, interest rate			4.75%		4.75%	4.75%
Repurchase amount of senior notes			$ 277,000,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Operating Loss Carryforwards [Line Items]
Effective tax rate	30.90%	25.50%	27.20%	31.30%
U.S. Federal income tax rate	21%	21%	21%	21%
Deferred tax assets, valuation allowance	$ 116,000,000		$ 116,000,000
Unrecognized tax benefits	9,000,000		9,000,000		$ 7,000,000
Income tax penalties and interest accrued	3,000,000		3,000,000		$ 2,000,000
Income tax interest expense	0	$ 0	0	$ 0
Unrecognized tax benefits that would impact effective tax rate	11,000,000		11,000,000
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	19,000,000		$ 19,000,000
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	$ 98,000,000		$ 98,000,000
Operating loss carryforwards, carryforward term			20 years
Operating loss carryback term			3 years

EMPLOYEE BENEFIT PLANS -Summary

EMPLOYEE BENEFIT PLANS -Summary of Components of Net Periodic Pension Benefit (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Retirement Benefits [Abstract]
Service cost	$ 1	$ 1	$ 4	$ 3
Interest cost	15	16	45	47
Expected return on plan assets	(10)	(19)	(31)	(56)
Net periodic pension cost (benefit)	$ 6	$ (2)	$ 18	$ (6)

EMPLOYEE BENEFIT PLANS - Additi

EMPLOYEE BENEFIT PLANS - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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			$ 10,000
Expense related to ESPP	$ 1,000,000	$ 1,000,000	4,000,000	$ 4,000,000
Multiemployer Plans
Multiemployer Plans [Line Items]
Contributions to multiemployer plans	25,000,000	25,000,000	69,000,000	75,000,000
Profit Sharing Plan
Multiemployer Plans [Line Items]
Expense recognized	$ 9,000,000	$ 4,000,000	$ 20,000,000	$ 14,000,000

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended					9 Months Ended		12 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Director
Related Party Transaction [Line Items]
Advisory services fees payable	$ 1			$ 1		$ 3	$ 3
Series B Preferred Stock
Related Party Transaction [Line Items]
Preferred share dividend (in shares)			337,044	413,135	584,584	283,196	935,285
Shares issued and sold (in shares)									800,000
Preferred stock, dividend percentage						5.50%		5.50%	5.50%
Preferred stock, par value (in dollars per share)	$ 0.0001		$ 0.0001		$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001
Aggregate purchase price									$ 800
Series B Preferred Stock | Related Party
Related Party Transaction [Line Items]
Preferred share dividend (in shares)		70,798	84,261	103,283		155,059	337,103
Shares issued and sold (in shares)									200,000
Aggregate purchase price									$ 200
Series B Preferred Stock | Related Party | Minimum
Related Party Transaction [Line Items]
Percentage of outstanding stock owned by related party under agreement									5%
Series A Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, dividend percentage						20%
Preferred stock, par value (in dollars per share)	$ 0.0001		$ 0.0001			$ 0.0001		$ 0.0001
Series A Preferred Stock | Director
Related Party Transaction [Line Items]
Preferred share dividend (in shares)		7,944,104

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Outstanding liability for environmental obligation including asset retirement obligations	$ 16	$ 17

SHAREHOLDERS' EQUITY AND REDE_2

SHAREHOLDERS' EQUITY AND REDEEMABLE CONVERTIBLE PREFERRED STOCK (Details) $ / shares in Units, $ in Millions		3 Months Ended								9 Months Ended		12 Months Ended
	Feb. 28, 2024 USD ($) shares	Sep. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) shares	Mar. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) shares	Jun. 30, 2023 USD ($) shares	Mar. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) shares	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Class of Stock [Line Items]
Stock repurchase program, authorized amount | $				$ 1,000					$ 250				$ 250
Repurchases of common stock (in shares)		0				656,489				16,260,160	1,626,493
Repurchases of common stock, value | $		$ 0				$ 18				$ 600	$ 41
Stock repurchase program, remaining authorized amount | $		$ 400								400
Share repurchases | $	$ 600					18	$ 11	$ 12
Stock repurchased during period, percentage repurchased upon issuance	0.50
Shares of common stock issued for conversion of Series B Preferred Stock | $	$ 569									$ 569	0
Line of credit, maximum borrowing capacity | $	$ 300
Public Stock Offering | Common Stock Issued and Outstanding
Class of Stock [Line Items]
Shares issued and sold (in shares)			12,650,000
Proceeds from public stock offering | $			$ 458
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 A Preferred Stock | Common Stock Issued and Outstanding
Class of Stock [Line Items]
Preferred share dividend (in shares)				7,944,104
Common Stock Issued and Outstanding
Class of Stock [Line Items]
Convertible to common shares (in shares)	32,803,519
Converted shares, shares issued, accrued and unpaid dividends (in shares)	283,196
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)		0			800,000					0		800,000
Preferred stock, shares outstanding (in shares)		0			800,000					0		800,000
Shares issued and sold (in shares)													800,000
Aggregate purchase price | $													$ 800
Percentage of annual dividend rate										5.50%		5.50%	5.50%
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.0001			$ 0.0001				$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001
Shares converted (in shares)	800,000
Dividends issued as shares, value | $					$ 11	$ 11			$ 11	$ 7	$ 22
Preferred share dividend (in shares)					337,044	413,135			584,584	283,196	935,285
Series B Preferred Stock | Common Stock Issued and Outstanding
Class of Stock [Line Items]
Preferred share dividend (in shares)				620,240			436,992	1,082,877

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Computation Earnings Per Common Share Using Two Class Method (Details) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2024 USD ($) day $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023 $ / shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 69	$ 69	$ 45	$ 54	$ 48	$ 26	$ 183	$ 128
Less stock dividend attributable to Series B Preferred Stock	0			(11)			(7)	(33)
Less conversion of Series B Preferred Stock	0			0			(372)	0
Net income (loss) attributable to common shareholders	$ 62			$ 35			$ (196)	$ 75
Weighted average shares outstanding - basic (in shares) | shares	274,640,368			235,418,566			265,308,881	234,996,055
Income (loss) per common share - basic (in dollars per share) | $ / shares	$ 0.23			$ 0.15			$ (0.74)	$ 0.32
Diluted earnings per common share:
Net income	$ 69	$ 69	$ 45	$ 54	$ 48	$ 26	$ 183	$ 128
Less stock dividend attributable to Series B Preferred Stock	0			(11)			(7)	(33)
Less conversion of Series B Preferred Stock	0			0			(372)	0
Net income (loss) attributable to common shareholders - diluted	$ 62			$ 39			$ (196)	$ 85
Weighted average shares outstanding - basic (in shares) | shares	274,640,368			235,418,566			265,308,881	234,996,055
Dilutive securities:
Restricted stock units, warrants, and stock options (in shares) | shares	1,279,583			420,465			0	308,745
Shares issuable upon conversion of Series B Preferred Shares (in shares) | shares	0			32,520,000			0	32,520,000
Shares issuable pursuant to the Series A Preferred Stock dividend (in shares) | shares	0			1,679,291			0	1,099,296
Weighted average shares outstanding - diluted (in shares) | shares	275,919,951			270,038,322			265,308,881	268,924,096
Income (loss) per common share - diluted (in dollars per share) | $ / shares	$ 0.23			$ 0.15			$ (0.74)	$ 0.32
Common stock, weighted average price, threshold (in days) | day							10
Common stock, average price, trigger period (in days) | day							10
Previous dividend price per share (in dollars per share) | $ / shares	$ 33.9465						$ 33.9465		$ 24.3968
Series A Preferred Stock
Dilutive securities:
Percentage of annual dividend rate							20%
Annual dividend shares preferred stock (in shares) | 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	$ (7)			$ (4)			$ 0	$ (10)
Diluted earnings per common share:
Less income allocable to Series A Preferred Stock	$ (7)			$ (4)			$ 0	$ (10)
Dilutive securities:
Antidilutive securities excluded from computation of earnings per share (in shares) | shares	4,000,000			4,000,000			4,000,000	4,000,000
Series B Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Less income allocable to Preferred Stock	$ 0			$ (4)			$ 0	$ (10)
Employee Stock Option
Dilutive securities:
Antidilutive securities excluded from computation of earnings per share (in shares) | shares							125,000
Restricted Stock Units RSUs
Dilutive securities:
Antidilutive securities excluded from computation of earnings per share (in shares) | shares							1,279,583

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024 segment country
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 (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenues	$ 1,826	$ 1,784	$ 5,157	$ 5,169
EBITDA Reconciliation
Operating income (loss)	142	104	368	284
Plus:
Investment (expense) income and other, net	(1)	7	(6)	18
Loss on extinguishment of debt, net	0	0	0	(3)
Depreciation	21	21	60	59
Amortization	56	56	161	167
EBITDA	218	188	583	525
Total assets	8,245	7,949	8,245	7,949	$ 7,590
Capital expenditures	22	18	66	64
Corporate and Eliminations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenues	(2)	(2)	(6)	(18)
EBITDA Reconciliation
Operating income (loss)	(46)	(37)	(126)	(92)
Plus:
Investment (expense) income and other, net	(1)	1	(1)	1
Loss on extinguishment of debt, net				(3)
Depreciation	1	0	3	1
Amortization	1	1	2	3
EBITDA	(45)	(35)	(122)	(90)
Total assets	472	651	472	651
Capital expenditures	2	3	12	4
Safety Services | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenues	1,335	1,217	3,828	3,633
EBITDA Reconciliation
Operating income (loss)	148	98	412	292
Plus:
Investment (expense) income and other, net	(2)	5	(12)	11
Loss on extinguishment of debt, net				0
Depreciation	9	8	24	21
Amortization	42	42	120	125
EBITDA	197	153	544	449
Total assets	6,605	5,983	6,605	5,983
Capital expenditures	8	5	19	19
Specialty Services | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenues	493	569	1,335	1,554
EBITDA Reconciliation
Operating income (loss)	40	43	82	84
Plus:
Investment (expense) income and other, net	2	1	7	6
Loss on extinguishment of debt, net				0
Depreciation	11	13	33	37
Amortization	13	13	39	39
EBITDA	66	70	161	166
Total assets	1,168	1,315	1,168	1,315
Capital expenditures	$ 12	$ 10	$ 35	$ 41

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Millions	Oct. 01, 2024 USD ($)
Acquisition In Safety Services Segment | Subsequent Event
Subsequent Event [Line Items]
Total consideration	$ 104