UL Solutions (ULS) 10-Q 5 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 18, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-42012
Entity Registrant Name	UL Solutions Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-0913800
Entity Address, Address Line One	333 Pfingsten Rd
Entity Address, City or Town	Northbrook
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60062
City Area Code	847
Local Phone Number	272-8800
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	ULS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001901440
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		61,987,768
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		138,130,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 731	$ 676	$ 2,131	$ 1,994
Cost of revenue	373	344	1,088	1,031
Selling, general and administrative expenses	228	206	696	644
Goodwill impairment	0	37	0	37
Operating income	130	89	347	282
Interest expense	(14)	(7)	(42)	(23)
Other income (expense), net	0	(7)	18	8
Income before income taxes	116	75	323	267
Income tax expense	22	18	63	53
Net income	94	57	260	214
Less: net income attributable to non-controlling interests	6	4	15	12
Net income attributable to stockholders of UL Solutions	$ 88	$ 53	$ 245	$ 202
Earnings per common share:
Basic (in dollars per share)	$ 0.44	$ 0.27	$ 1.23	$ 1.01
Diluted (in dollars per share)	$ 0.44	$ 0.27	$ 1.22	$ 1.01
Weighted average common shares outstanding:
Basic (in shares)	200	200	200	200
Diluted (in shares)	202	200	201	200

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - 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	$ 94	$ 57	$ 260	$ 214
Other comprehensive income (loss), net of tax:
Pension and postretirement benefit plans, net of tax	1	1	2	3
Foreign currency translation gain (loss)	31	(16)	5	(22)
Total other comprehensive income (loss)	32	(15)	7	(19)
Comprehensive income	126	42	267	195
Less: comprehensive income attributable to non-controlling interests	7	4	15	11
Comprehensive income attributable to stockholders of UL Solutions	$ 119	$ 38	$ 252	$ 184

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 327	$ 315
Accounts receivable, net of allowance of $11 and $9	354	362
Contract assets, net of allowance of $1 and $1	223	179
Other current assets	73	97
Total current assets	977	953
Property, plant and equipment, net of accumulated depreciation of $771 and $737	602	555
Goodwill	651	623
Intangible assets, net of accumulated amortization of $241 and $232	61	72
Operating lease right-of-use assets	183	151
Deferred income taxes	120	110
Capitalized software, net of accumulated amortization of $425 and $382	133	139
Other assets	150	133
Total Assets	2,877	2,736
Current liabilities:
Current portion of long-term debt	37	0
Accounts payable	138	169
Accrued compensation and benefits	223	281
Operating lease liabilities - current	37	39
Contract liabilities	253	162
Other current liabilities	57	58
Total current liabilities	745	709
Long-term debt	760	904
Pension and postretirement benefit plans	222	232
Operating lease liabilities	153	120
Other liabilities	101	93
Total Liabilities	1,981	2,058
Commitments and contingencies (Note 17)
Stockholders’ equity:
Additional paid-in capital	817	776
Retained earnings	194	24
Accumulated other comprehensive loss	(139)	(146)
Total stockholders’ equity before non-controlling interests	872	654
Non-controlling interests	24	24
Total Stockholders’ Equity	896	678
Total Liabilities and Stockholders’ Equity	2,877	2,736
Common Class A
Stockholders’ equity:
Common stock	0	0
Common Class B
Stockholders’ equity:
Common stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance for credit loss	$ 11	$ 9
Contract assets, allowance for credit loss	1	1
Property, plant, and equipment, accumulated depreciation	771	737
Intangible assets, accumulated amortization	241	232
Capitalized software, accumulated amortization	$ 425	$ 382
Common stock, shares outstanding (in shares)	200,016,444	200,000,000
Common Class A
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	62,000,000	200,000,000
Common stock, shares outstanding (in shares)	61,886,444	200,000,000
Common Class B
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	138,000,000	0
Common stock, shares outstanding (in shares)	138,130,000	0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholder's Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Non-controlling Interests
Balances, beginning of period at Dec. 31, 2022	$ 1,077	$ 0	$ 1,009	$ 211	$ (166)	$ 23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	214			202		12
Other comprehensive income (loss), net of tax	(19)				(18)	(1)
Dividends to stockholders of UL Solutions	(60)			(60)
Dividend to non-controlling interest	(15)					(15)
Balances, end of period at Sep. 30, 2023	1,197	0	1,009	353	(184)	19
Balances, beginning of period at Jun. 30, 2023	1,175	0	1,009	320	(169)	15
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	57			53		4
Other comprehensive income (loss), net of tax	(15)				(15)
Dividends to stockholders of UL Solutions	(20)			(20)
Balances, end of period at Sep. 30, 2023	1,197	0	1,009	353	(184)	19
Balances, beginning of period at Dec. 31, 2023	678	0	776	24	(146)	24
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	260			245		15
Other comprehensive income (loss), net of tax	7				7
Stock-based compensation	41		41
Dividends to stockholders of UL Solutions	(75)			(75)
Dividend to non-controlling interest	(15)					(15)
Balances, end of period at Sep. 30, 2024	896	0	817	194	(139)	24
Balances, beginning of period at Jun. 30, 2024	786	0	808	131	(170)	17
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	94			88		6
Other comprehensive income (loss), net of tax	32				31	1
Stock-based compensation	9		9
Dividends to stockholders of UL Solutions	(25)			(25)
Balances, end of period at Sep. 30, 2024	$ 896	$ 0	$ 817	$ 194	$ (139)	$ 24

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholder's Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividend to stockholder of UL Solutions (in dollars per share)	$ 0.125	$ 0.10	$ 0.375	$ 0.30

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net income	$ 260	$ 214
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	125	111
Goodwill impairment	0	37
Gains on divestitures	(24)	(2)
Stock-based compensation	16	0
Loss on foreign exchange transactions	5	7
Deferred income taxes	(11)	8
Other, net	12	(2)
Changes in assets and liabilities, excluding the effects of acquisitions and divestitures:
Accounts receivable	4	37
Contract and other assets	(36)	(63)
Accounts payable	(19)	(19)
Accrued expenses	(27)	(75)
Pension and postretirement benefit plans	(8)	3
Contract and other liabilities	97	85
Net cash flows provided by operating activities	394	341
Investing activities
Capital expenditures	(179)	(156)
Acquisitions, net of cash acquired	(26)	(18)
Proceeds from divestitures	30	4
Sales of investments	0	144
Purchases of investments	0	(95)
Other investing activities, net	0	3
Net cash flows used in investing activities	(175)	(118)
Financing activities
Proceeds from long-term debt	108	30
Repayment of long-term debt	(218)	(30)
Dividends to stockholders of UL Solutions	(75)	(60)
Dividend to non-controlling interest	(15)	(14)
Other financing activities, net	(2)	(1)
Net cash flows used in financing activities	(202)	(75)
Effect of exchange rate changes on cash and cash equivalents	(5)	(13)
Net increase in cash and cash equivalents	12	135
Cash and cash equivalents
Beginning of period	315	322
End of period	327	457
Supplemental disclosures of cash flow information
Cash paid during the period for interest	39	24
Cash paid during the period for income taxes	56	45
Cash paid during the period for stock-based compensation	18	61
Noncash investing and financing activities
Capital expenditures funded by liabilities	28	25
Conversion of stock-based compensation awards to equity (Note 16)	$ 26	$ 0

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Description of Business UL Solutions Inc. (together with its consolidated subsidiaries, “UL Solutions” and the “Company”) is a global safety science leader that provides independent third-party testing, inspection and certification services and related software and advisory offerings. ULSE Inc. (“UL Standards & Engagement”) controls the majority of the voting power of the Company’s common stock. Underwriters Laboratories Inc. (“UL Research Institutes”) is the sole member of UL Standards & Engagement. Public Offerings On April 16, 2024, the Company completed its initial public offering of an aggregate of 38,870,000 shares of Class A common stock (the “IPO”) by UL Standards & Engagement at a price to the public of $28.00 per share. On September 9, 2024, the Company completed a follow-on public offering of an aggregate of 23,000,000 shares of Class A common stock by UL Standards & Engagement at a price to the public of $49.00 per share. The Company did not receive any proceeds from these offerings. Refer to Note 14 for further information. Basis of Presentation The condensed consolidated financial statements are unaudited and have been prepared in accordance with applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023 included in the Company’s final prospectus for its initial public offering filed with the SEC on April 15, 2024. It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair statement of the Company’s results of operations, financial position and cash flows. Results of operations for any interim period are not necessarily indicative of future or annual results. The Company has reclassified certain amounts in prior period financial statements to conform to the current period’s presentation. On November 20, 2023, the Company effected a 2-for-1 forward split of the Company’s Class A common stock. All share and per share information presented in the accompanying condensed consolidated financial statements and notes thereto has been retrospectively adjusted to reflect the stock split for all periods presented. The authorized shares and the par value of the Class A common stock were not adjusted as a result of the stock split. Stock-based Compensation The Company maintains long-term incentive plans under which equity awards are available to be issued to certain employees, officers and directors. Stock-based compensation expense, measured as the fair value of an award on the date of grant, is recognized ratably over the requisite service period, which is generally equal to the vesting period of the respective award, however may be impacted by certain factors including the employee’s death, disability or retirement. Compensation expense related to performance share units is adjusted each reporting period based on the probable outcome of the performance conditions applicable to each grant. The fair value of restricted stock units and performance share units is determined using the closing price of the Company’s stock on the date of grant. The fair value of each stock option is measured on the date of grant using a Black-Scholes-Merton option-pricing model that uses various assumptions including expected stock price volatility, expected dividend yield, the risk-free interest rate, and expected term of the award. Recently Issued Accounting Standards – Not Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The amendments will be applied retrospectively. The ASU will result in additional segment disclosures within the Company’s financial statements, but is not expected to impact the Company’s financial condition, results of operations or cash flows. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which provides qualitative and quantitative updates to the rate reconciliation and income taxes paid disclosures, among others, in order to enhance the transparency of income tax disclosures, including consistent categories and greater disaggregation of information in the rate reconciliation and disaggregation by jurisdiction of income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. The amendments will be applied prospectively. The ASU will result in additional income tax disclosures within the Company’s financial statements, but is not expected to impact the Company’s financial condition, results of operations or cash flows.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic and diluted earnings per share were calculated as follows: Three Months Ended Nine Months Ended (in millions, except per share data) 2024 2023 2024 2023 Net income attributable to stockholders of UL Solutions $ 88 $ 53 $ 245 $ 202 Basic weighted average common shares outstanding 200 200 200 200 Effect of dilutive securities 2 — 1 — Diluted weighted average common shares outstanding 202 200 201 200 Basic earnings per share attributable to stockholders of UL Solutions $ 0.44 $ 0.27 $ 1.23 $ 1.01 Diluted earnings per share attributable to stockholders of UL Solutions $ 0.44 $ 0.27 $ 1.22 $ 1.01

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The table below summarizes the major service categories from which the Company derives its revenues: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Certification Testing $ 206 $ 182 $ 585 $ 531 Ongoing Certification Services 238 217 705 653 Non-certification Testing and Other Services 220 207 639 605 Software 67 70 202 205 Total $ 731 $ 676 $ 2,131 $ 1,994 Contract Balances The revenue recognized during the three and nine months ended September 30, 2024, which was included in contract liabilities at December 31, 2023, amounted to $27 million and $106 million, respectively. The revenue recognized during the three and nine months ended September 30, 2023, which was included in contract liabilities at December 31, 2022, amounted to $21 million and $101 million, respectively. Remaining Performance Obligations At September 30, 2024, the Company estimates that $164 million in revenue is expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. The Company expects to recognize approximately 64% o f its unsatisfied (or partially unsatisfied) performance obligations as revenue in the subsequent 12 months, with the remaining balance to be recognized thereafter. Remaining consideration from contracts with customers is included in the amount presented above and includes contracts with multiple performance obligations and multi-year maintenance agreements, which are typically recognized as the performance obligation is satisfied.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions In July 2024, the Company acquired 100% of the outstanding stock of TesTneT Engineering GmbH (together with its subsidiaries,“TesTneT”) for approximately $19 million in cash consideration (subject to customary post-closing adjustments). TesTneT is a Germany-based company that provides testing services for various hydrogen storage systems, refueling stations and their components. Goodwill of $15 million, subject to finalization of the purchase price allocation, represents anticipated future revenue growth and margin expansion opportunities from new customers and has been included within the Company’s Industrial segment. Goodwill related to this acquisition is not deductible for income tax purposes. In May 2024, the Company acquired 100% of the outstanding stock of Batterielngenieure GmbH (together with its subsidiaries, “Batterielngenieure”) for approximately $11 million in cash consideration (subject to customary post-closing adjustments). Batterielngenieure is a Germany-based battery testing company that is in the process of building a laboratory in Aachen, Germany to replace the leased facility it is currently using and to add testing and simulation capacity. The purchase price is primarily related to property, plant and equipment of $9 million and goodwill of $7 million, subject to finalization of the purchase price allocation. Goodwill represents anticipated future revenue growth and margin expansion opportunities from new customers and has been included within the Company’s Industrial segment. Goodwill related to this acquisition is not deductible for income tax purposes. In August 2023, the Company acquired 100% of the outstanding stock of Certification Entity for Renewable Energies, S.L. (“CERE”) for approximately $14 million in cash consideration (as adjusted for customary post-closing adjustments). CERE is a Spain-based grid code compliance testing, simulation and certification company, focused on renewable energy and electric vehicle adoption. Goodwill of $11 million includes expected synergies with the Company’s existing business and has been included within the Company’s Industrial segment. Goodwill related to this acquisition is not deductible for income tax purposes. In July 2023, the Company acquired 100% of the outstanding stock of HBI Compliance Limited (together with its subsidiaries, “Healthy Buildings International”) for approximately $6 million in cash consideration (as adjusted for customary post-closing adjustments). Healthy Buildings International is a United Kingdom-based health, safety and compliance company and its results of operations have been included in the Software and Advisory segment since the date of acquisition. Aggregate acquisition-related costs associated with business combinations are not material for the three and nine months ended September 30, 2024 and 2023, and are included in selling, general and administrative expenses in the Company’s Condensed Consolidated Statements of Operations as incurred. Divestiture In May 2024, the Company completed the sale of its payments testing business in the Industrial segment to an affiliate of Gallant Capital Partners, a California-based private equity firm, for a base price of $30 million in cash, subject to customary post-closing adjustments, with the potential for additional cash consideration if certain earn-out provisions are met. The divestiture resulted in a pre-tax gain on sale of $24 million, which was recorded within other income (expense), net in the Company’s Condensed Consolidated Statements of Operations. Held for Sale In May 2024, the Company signed a non-binding letter of intent with a prospective buyer to purchase one of its facilities and, as a result, the related assets of the facility were classified as held for sale in the second quarter of 2024. The facility is a testing laboratory, used in the Company’s Industrial and Consumer segments. At September 30, 2024, the carrying amount of the land, building and related improvements classified as held for sale was $11 million, which was included within other assets on the Condensed Consolidated Balance Sheet. In October 2024, the Company received a notice of termination from the prospective buyer. There have been no substantive changes to the Company’s plans to sell the facility.

Other Income (Expense), net

Other Income (Expense), net	9 Months Ended
	Sep. 30, 2024
Other Income and Expenses [Abstract]
Other Income (Expense), net	Other Income (Expense), net The components of other income (expense), net are as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Foreign exchange gains (losses) $ 1 $ (9) $ (5) $ (5) Interest income (a) 1 3 3 6 Unrealized gains on equity investments (a) — 2 — 7 Non-operating pension and postretirement benefit expense (2) (2) (6) (6) Gains on divestitures, net of adjustments (a)(b) (1) — 24 2 Other (a) 1 (1) 2 4 Total $ — $ (7) $ 18 $ 8 __________ (a) The Company has reclassified the amounts presented for the three and nine months ended September 30, 2023 to conform to the current period’s presentation. (b) See Note 4.

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 The carrying amount and fair value of the Company’s debt was as follows: September 30, 2024 December 31, 2023 (in millions) Carrying Amount Fair Value Carrying Amount Fair Value Term loans $ 500 $ 500 $ 500 $ 500 Revolving credit facility — — 110 110 Senior notes 300 321 300 315 Other 2 2 — — Total $ 802 $ 823 $ 910 $ 925 The fair value of the Company’s term loans and revolving credit facility reflects current market conditions and is primarily determined using broker quotes, which are Level 2 inputs in the fair value hierarchy. The fair value of the Company’s senior notes is estimated based on prevailing interest rates and trading activity, which are Level 2 inputs in the fair value hierarchy.

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2024
Other Assets [Abstract]
Other Current Assets	Other Current Assets The components of other current assets are as follows: (in millions) September 30, 2024 December 31, 2023 Income tax receivable $ 26 $ 49 Prepaid expenses 43 35 Other 4 13 Total $ 73 $ 97

Investments in Equity Securitie

Investments in Equity Securities	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments in Equity Securities	Investments in Equity Securities The Company holds investments in equity securities of various companies, certain of which comprise less than 10% of the applicable company’s outstanding equity securities and are included within other assets in the Company’s Condensed Consolidated Balance Sheets. The Company accounts for these investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The carrying amount of these investments was $42 million for both periods ended September 30, 2024 and December 31, 2023. The Company owns 70% of the issued and outstanding equity interests of UL-CCIC Company Limited (“UL-CCIC”), an entity formed under the laws of the People’s Republic of China. The Company determined that it is the primary beneficiary of UL-CCIC and assets of $182 million and $178 million and liabilities of $83 million and $82 million, inclusive of intercompany eliminations, were included in the Company’s Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023, respectively.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Changes in the carrying amount of goodwill for the nine months ended September 30, 2024 were as follows: Testing, Inspection and Certification Software and Advisory Total (in millions) Industrial Consumer Balance at December 31, 2023 (a) $ 323 $ 230 $ 70 $ 623 Acquisitions 22 — — 22 Effect of changes in foreign exchange rates 3 2 1 6 Balance at September 30, 2024 (a) $ 348 $ 232 $ 71 $ 651 __________ (a) Net of accumulated impairment losses of $137 million as of September 30, 2024 and $166 million as of December 31, 2023.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The following tables summarize intangible assets: September 30, 2024 (in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 263 $ (212) $ 51 Intellectual property and patents 16 (11) 5 Trademarks 23 (18) 5 Total $ 302 $ (241) $ 61 December 31, 2023 (in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 261 $ (204) $ 57 Intellectual property and patents 18 (11) 7 Trademarks 25 (17) 8 Total $ 304 $ (232) $ 72 Intangible asset amortization expense for the three and nine months ended September 30, 2024, reported within the Condensed Consolidated Statements of Operations, was $4 million and $10 million, respectively. Intangible asset amortization expense for the three and nine months ended September 30, 2023, reported within the Condensed Consolidated Statements of Operations, was $4 million and $12 million, respectively.

Pension

Pension	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Pension	Pension The components of net periodic benefit cost for the Company’s U.S. defined benefit pension plan were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Components of net periodic benefit cost Service cost $ — $ 1 $ 1 $ 2 Interest cost 4 4 12 12 Expected return on plan assets (3) (4) (10) (11) Amortization of net actuarial loss 1 1 3 3 Net periodic benefit cost $ 2 $ 2 $ 6 $ 6 For the three and nine months ended September 30, 2024, the Company’s contributions to various defined contribution savings plans were $11 million and $36 million, respectively. For the three and nine months ended September 30, 2023, the Company’s contributions to various defined contribution savings plans were $11 million and $34 million, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the three and nine months ended September 30, 2024 was 19.0% and 19.5%, respectively, which differed from the U.S. statutory rate of 21% primarily due to earnings subject to lower tax rates in foreign jurisdictions and a discrete tax benefit for the release of valuation allowances, partially offset by Section 162(m) limitations on current year compensation deductions of certain executive officers and U.S. tax on Global Intangible Low Taxed Income (“GILTI”) net of related foreign tax credits. The effective tax rate for the three and nine months ended September 30, 2024 also included a discrete tax expense for the reduction to previously established deferred tax assets of approximately $5 million due to the Company becoming subject to Section 162(m) of the Internal Revenue Code in the U.S., which limits U.S. public company compensation expenses of certain executive officers that were previously deductible as a private company. The effective tax rate for the three months ended September 30, 2023 was 24.0%, which differed from the U.S. statutory tax rate of 21% primarily due to the impact of non-deductible goodwill impairment and U.S. tax on GILTI net of related foreign tax credits, partially offset by earnings subject to lower tax rates in foreign jurisdictions and research and development tax credits. The effective tax rate for the nine months ended September 30, 2023 was 19.9%, which differed from the U.S. statutory tax rate of 21% primarily due to earnings subject to lower tax rates in foreign jurisdictions and research and development tax credits, partially offset by the impact of non-deductible goodwill impairment and U.S. tax on GILTI net of related foreign tax credits.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s outstanding debt consisted of the following: (in millions) Currency Maturity Date September 30, 2024 December 31, 2023 Term loans USD January 2027 $ 500 $ 500 Revolving credit facility USD January 2027 — 110 Senior notes USD October 2028 300 300 Other USD August 2033 2 — Total debt 802 910 Less: unamortized debt issuance costs (5) (6) Total debt, net of unamortized debt issuance costs 797 904 Less: current portion of long-term debt (37) — Long-term debt $ 760 $ 904 Credit Facility In January 2022, the Company entered into a credit agreement with Bank of America, N.A. and certain other lenders, which provides for senior unsecured credit facilities in an aggregate principal amount of $1,250 million (collectively, the “Credit Facility”), consisting of term loans and revolving loan commitments. As of September 30, 2024, the Company was in compliance with all covenants under the Credit Facility. The interest rate on the term loans was 6.07% as of September 30, 2024 and 6.46% as of December 31, 2023 and the interest rate on the revolving credit facility was 6.45% as of December 31, 2023. Since entering the agreement in January 2022, borrowings under the Credit Facility bore interest at a rate per annum equal to, at the Company’s option, (a) in the case of U.S. dollar loans, the Bloomberg Short-term Bank Yield (“BSBY”) rate plus a margin, and for all other currencies, a specified benchmark rate for the applicable currency plus, in certain instances, a specified spread adjustment plus a margin (loans with a rate based on this clause (a), “benchmark rate loans”) or (b) for U.S. dollar loans only, the base rate plus a margin (loans with a rate based on this clause (b), “base rate loans”). In addition, the Credit Facility included a provision that replaces BSBY with the Secured Overnight Financing Rate (“SOFR”) plus certain specified credit spread adjustments in the event that BSBY ceases to be available as a reference rate. In November 2023, the Bloomberg Index Services Limited announced that the permanent cessation of BSBY and all of its tenors will be effective on November 15, 2024. Accordingly, on June 28, 2024, the Company entered into an amendment (the “First Credit Facility Amendment”) to the Credit Facility with Bank of America, N.A. and certain other lenders. The First Credit Facility Amendment provided, among other things, for (i) the replacement of BSBY with Term SOFR plus a SOFR adjustment of 0.10% as a benchmark rate for interest periods commencing subsequent to June 28, 2024; (ii) UL Solutions Inc., which was previously the guarantor of the facility, became the named borrower, and UL LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“UL LLC”), which was previously the named borrower, became the guarantor. The foregoing summary of certain provisions of the First Credit Facility Amendment is qualified in its entirety by reference to the amendment filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. Senior Notes In October 2023, the Company issued $300 million in aggregate principal amount of 6.500% senior notes due 2028 (the “notes”). The notes are senior unsecured obligations of UL Solutions Inc. and are unconditionally guaranteed by UL LLC. Borrowings under the notes bear a fixed interest rate of 6.500% per annum.

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Common Stock	Common Stock As of September 30, 2024 the Company was authorized to issue 1,000,000,000 shares of Class A common stock, par value $0.001 per share, 500,000,000 shares of Class B common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share. As of December 31, 2023 the Company was authorized to issue 200,000,000 shares of Class A common stock, par value $0.001 per share and 200,000,000 shares of Class B common stock, par value $0.001 per share. Class A and Class B common stock each convey the same rights and privileges to their respective holders, except that Class A common stock entitles its holders to 1 vote per share in respect of matters on which shareholders are entitled to vote and Class B common stock entitles its holders to 10 votes per share. UL Standards & Engagement is the sole holder of UL Solutions’ outstanding Class B common stock, resulting in beneficial ownership of 69.1% and voting power of 95.7% of the Company’s outstanding common stock as of September 30, 2024. As a result, UL Standards & Engagement has the ability to control the outcome of matters submitted to the Company’s stockholders for approval, including the election of directors and the approval of any change of control transaction. The Company meets the definition of a “controlled company” within the meaning of the corporate governance rules of the New York Stock Exchange. The following table shows the number of shares of common stock outstanding and changes in each class of share: Class A Class B Total Balance at December 31, 2023 200,000,000 — 200,000,000 Reclassification (a) (200,000,000) 200,000,000 — Initial public offering (b) 38,870,000 (38,870,000) — Follow-on public offering (c) 23,000,000 (23,000,000) — Shares issued under long-term incentive plans 16,444 — 16,444 Balance at September 30, 2024 61,886,444 138,130,000 200,016,444 __________________ (a) On April 11, 2024, the Company filed an amended and restated certificate of incorporation with the Secretary of State of the State of Delaware, which, among other things, reclassified all shares of the Company’s Class A common stock outstanding into shares of Class B common stock. The amended and restated certificate of incorporation, as well as the Company’s amended and restated bylaws, became effective upon such filing. (b) On April 16, 2024, the Company completed its initial public offering of an aggregate of 38,870,000 shares of Class A common stock by UL Standards & Engagement at a price to the public of $28.00 per share, which included the exercise in full by the underwriters of their overallotment option to purchase an additional 5,070,000 shares of Class A common stock. The Company did not receive any proceeds from the initial public offering. (c) On September 9, 2024, the Company completed a follow-on public offering of an aggregate of 23,000,000 shares of Class A common stock by UL Standards & Engagement at a price to the public of $49.00 per share, which included the exercise in full by the underwriters of their overallotment option to purchase an additional 3,000,000 shares of Class A common stock. The Company did not receive any proceeds from this offering. At September 30, 2024, and December 31, 2023, no shares of preferred stock were outstanding.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following tables summarize the changes in accumulated other comprehensive loss. Three Months Ended September 30, 2024 (in millions) Foreign Currency Translation Pension and Postretirement Plans Total Balance at June 30, 2024, net of tax $ (74) $ (96) $ (170) Amounts before reclassifications 30 — 30 Amounts reclassified out — 1 1 Total other comprehensive income, net of tax 30 1 31 Balance at September 30, 2024, net of tax $ (44) $ (95) $ (139) Three Months Ended September 30, 2023 (in millions) Foreign Currency Translation Pension and Postretirement Plans Total Balance at June 30, 2023, net of tax $ (59) $ (110) $ (169) Amounts before reclassifications (16) 2 (14) Tax effect — (1) (1) Total other comprehensive (loss) income, net of tax (16) 1 (15) Balance at September 30, 2023, net of tax $ (75) $ (109) $ (184) Nine Months Ended September 30, 2024 (in millions) Foreign Currency Translation Pension and Postretirement Plans Total Balance at December 31, 2023, net of tax $ (49) $ (97) $ (146) Amounts before reclassifications 5 (1) 4 Amounts reclassified out — 3 3 Total other comprehensive income, net of tax 5 2 7 Balance at September 30, 2024, net of tax $ (44) $ (95) $ (139) Nine Months Ended September 30, 2023 (in millions) Foreign Currency Translation Pension and Postretirement Plans Total Balance at December 31, 2022, net of tax $ (54) $ (112) $ (166) Amounts before reclassifications (21) 4 (17) Tax effect — (1) (1) Total other comprehensive (loss) income, net of tax (21) 3 (18) Balance at September 30, 2023, net of tax $ (75) $ (109) $ (184)

Stock-based and Other Incentive

Stock-based and Other Incentive Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based and Other Incentive Compensation	Stock-based and Other Incentive Compensation In April 2024, the UL Solutions Inc. 2024 Long-Term Incentive Plan (the “2024 LTIP”) became effective and the Company reserved for issuance 20,000,000 shares of Class A common stock in connection with the 2024 LTIP and the UL Solutions Inc. Long-Term Incentive Plan (the “Pre-IPO LTIP”), as well as 5,000,000 additional shares of Class A common stock reserved for issuance under the UL Solutions Inc. 2024 Employee Stock Purchase Plan (the “2024 ESPP”). Upon settlement of stock-based compensation awards, shares of Class A common stock are issued in respect of such awards. Equity awards that are granted and subsequently expire, are cancelled, forfeited, or are used to satisfy required withholding taxes are recycled back into the total number of shares available for issuance under the 2024 LTIP and the Pre-IPO LTIP. As of September 30, 2024, 19,983,556 shares remain available for issuance under the 2024 LTIP and the Pre-IPO LTIP and 5,000,000 shares remain available for issuance under the 2024 ESPP. Annual equity awards are issued to certain employees and officers, including named executive officers, in order to attract, motivate and retain talent and to maximize their contribution to the long-term success of the Company. Equity awards are also used as part of the compensation provided to the board of directors in the form of restricted stock units. Directors may elect to defer receipt of some or all of their annual cash retainer amounts, which are converted into restricted stock units when and as such cash retainer amounts would have otherwise been paid, for either five years, 10 years or until termination of service from the board. In May 2024, the Company granted annual equity awards, comprised of restricted stock units and performance share units, to eligible employees, officers and directors. In addition, in connection with the IPO, the Company granted nonqualified stock options and restricted stock units to the Company’s executive team, including named executive officers, and other key employees under the 2024 LTIP. The Company has outstanding awards under the Pre-IPO LTIP, the majority of which will be settled in shares of Class A common stock. Stock-based compensation expense (benefit) was as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Cost of revenue $ 1 $ — $ 3 $ 1 Selling, general and administrative expenses 9 (3) 22 7 Stock-based compensation expense (benefit) 10 (3) 25 8 Income tax benefit (1) — (4) (2) Stock-based compensation expense (benefit), net $ 9 $ (3) $ 21 $ 6 Stock-based compensation expense (benefit) by type of award Restricted stock units $ 5 $ — $ 8 $ — Performance share units 3 — 4 — Stock options 1 — 2 — Stock-settled stock appreciation rights 1 — 2 — Cash-settled awards — (3) 9 8 Stock-based compensation expense (benefit) $ 10 $ (3) $ 25 $ 8 Restricted Stock Units Restricted stock units (“RSUs”) represent the right to receive shares of Class A common stock and are generally subject to continued employment through a three-year ratable vesting period. The following table summarizes the activity related to the Company’s RSUs during the nine months ended September 30, 2024: Number of RSUs Weighted Average Outstanding as of December 31, 2023 — $ — Granted 799,176 34.67 Forfeited (37,911) 34.85 Outstanding as of September 30, 2024 761,265 $ 34.66 As of September 30, 2024, total unrecognized compensation expense related to RSUs was $19 million and is expected to be recognized over the remaining weighted-average vesting period of 2.3 years. Performance Share Units Performance share units (“PSUs”) represent the right to receive shares of Class A common stock based on the achievement of certain performance conditions and are generally subject to continued employment through a three-year cliff vesting period. The performance conditions are based on company-wide non-GAAP revenue and operating income metrics and the number of Class A common shares issued may range from 0% to a maximum potential value of 200% of the award’s target value based on the satisfaction of the applicable metrics over a three-year cumulative performance period. The following table summarizes the activity related to the Company’s PSUs during the nine months ended September 30, 2024: Number of PSUs Weighted Average Outstanding as of December 31, 2023 — $ — Granted 384,483 34.85 Forfeited (13,358) 34.85 Outstanding as of September 30, 2024 371,125 $ 34.85 As of September 30, 2024, total unrecognized compensation expense related to PSUs was $14 million and is expected to be recognized over the remaining weighted-average vesting period of 2.5 years. Stock Options Stock options represent the right to purchase shares of Class A common stock and are generally subject to continued employment through a three-year cliff vesting period. Stock options expire ten years from the grant date. The following table summarizes the activity related to the Company’s stock options during the nine months ended September 30, 2024: Number of Stock Options Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding as of December 31, 2023 — $ — Granted 2,074,299 28.00 Forfeited (79,719) 28.00 Outstanding as of September 30, 2024 1,994,580 $ 28.00 9.5 years $ 42 Exercisable as of September 30, 2024 — The weighted average grant date fair value per share of stock options granted was $7.84 for the period ended September 30, 2024. The following table summarizes the assumptions used in the Black-Scholes-Merton option-pricing model that was used to estimate the fair value of the stock options at the grant date: April 12, 2024 Expected dividend yield 1.79% Risk-free interest rate 4.48% Weighted average volatility 24.50% Expected life (in years) 6.50 As of September 30, 2024, total unrecognized compensation expense related to stock options was $13 million and is expected to be recognized over the remaining weighted-average vesting period of 2.6 years. Stock Appreciation Rights The Company has stock appreciation rights outstanding from its Pre-IPO LTIP, which represent the right to receive an amount based on the appreciation in the fair value of the Company’s Class A common stock from the grant date up to a specified date or dates. Prior to the IPO, all stock appreciation rights were Cash-settled Stock Appreciation Rights (“CSARs”). Upon completion of the IPO, the majority of outstanding CSARs were converted to the same number of Stock-settled Stock Appreciation Rights (“SSARs”), which will be settled in shares of Class A common stock under the pre-IPO LTIP. As equity-settled awards, the fair value of the SSARs was determined on the conversion date of April 16, 2024 and, generally, will not be remeasured unless the awards are modified. The conversion of CSARs to SSARs at the completion of the IPO resulted in a reclassification of $26 million from accrued compensation and benefits and other liabilities to additional paid-in capital on the Company’s Condensed Consolidated Balance Sheet. The CSARs were remeasured to fair value at the conversion date, which resulted in additional pre-tax compensation expense of $9 million in the second quarter of 2024, primarily within selling, general and administrative expenses. The pre-tax compensation expense reduced segment operating income by $4 million, $4 million and $1 million for the Industrial, Consumer and Software & Advisory segments, respectively. The following table summarizes the activity related to the Company’s CSARs during the nine months ended September 30, 2024: Number of CSAR Awards Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding as of December 31, 2023 3,452,120 $ 18.77 1.72 years $ 37 CSARs converted to SSARs (1,978,761) 21.12 Exercised (863,648) 7.46 Cancelled (470,992) 30.06 Forfeited (19,815) 29.10 Outstanding as of September 30, 2024 118,904 $ 15.47 1.04 years $ 4 Exercisable as of September 30, 2024 104,618 $ 13.63 0.75 years $ 4 As of September 30, 2024, total unrecognized compensation expense related to CSARs was immaterial. The weighted average grant date fair value per share of CSARs granted was $5.28 for the period ended September 30, 2024. The Company had a short-term liability related to its CSARs of $4 million and $37 million recorded within accrued compensation and benefits in the Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023, respectively. The Company had a long-term liability of $0 and $2 million recorded within other liabilities in the Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023, respectively. The following table summarizes the activity related to the Company’s SSARs during the nine months ended September 30, 2024: Number of SSAR Awards Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding as of December 31, 2023 — $ — SSARs converted from CSARs 1,978,761 21.12 Exercised (29,278) 13.59 Forfeited (46,214) 29.12 Outstanding as of September 30, 2024 1,903,269 $ 21.04 1.93 years $ 54 Exercisable as of September 30, 2024 959,363 $ 13.11 0.82 years $ 35 As of September 30, 2024, total unrecognized compensation expense related to SSARs was $3 million and is expected to be recognized over the remaining weighted-average vesting period of 1.3 years. The weighted average grant date fair value per share of SSARs granted was $6.15 for the period ended September 30, 2024. The following table summarizes the assumptions used in the Black-Scholes-Merton option-pricing models that were used to estimate the fair value of the stock appreciation rights at the conversion date: April 16, 2024 Expected dividend yield 1.44% Risk-free interest rate 4.78% - 5.41% Weighted average volatility 22.50% Expected life (in years) 0.11 - 2.96 Performance Cash The Company has Performance Cash awards outstanding from its Pre-IPO LTIP, which represent the right to receive an amount based on the achievement of certain performance conditions and are generally subject to continued employment through a three-year cliff vesting period. The amount may range from 0% to a maximum potential value of 200% of the award’s target value based on the satisfaction of the performance conditions over a three-year cumulative performance period. Prior to the IPO, all Performance Cash awards were settled in cash. Following the IPO, the majority of the outstanding Performance Cash awards will be settled in shares of Class A common stock under the Pre-IPO LTIP. Compensation expense related to Performance Cash awards was as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Cost of revenue $ 1 $ 1 $ 3 $ 2 Selling, general and administrative expenses 4 3 16 10 Performance Cash compensation expense 5 4 $ 19 $ 12 Income tax benefit — (1) (3) (3) Performance Cash compensation expense, net $ 5 $ 3 $ 16 $ 9 The Company had a short-term liability related to its Performance Cash awards of $16 million recorded within accrued compensation and benefits in the Condensed Consolidated Balance Sheets for both periods ended September 30, 2024 and December 31, 2023. The Company had a long-term liability of $17 million and $13 million recorded within other liabilities in the Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 respectively.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is party in the ordinary course of business to certain claims, litigation, audits and investigations. The Company will record an accrual for a loss contingency when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The Company believes it has established adequate accruals for liabilities that are probable and reasonably estimable and that may be incurred in connection with any such currently pending or threatened matter, none of which are material. In the Company’s opinion, the settlement of any such currently pending or threatened matter is not expected to have a material impact on the Company’s financial position, results of operations, or cash flows.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In the three and nine month periods ended September 30, 2024, the Company incurred expenses of $6 million and $16 million, respectively, to access the library of standards owned and maintained by UL Standards & Engagement. In the three and nine month periods ended September 30, 2023, the Company incurred expenses of $6 million and $16 million, respectively, to access the library of standards owned and maintained by UL Standards & Engagement.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information Revenue and operating income of the Company’s segments were as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Revenue Industrial $ 317 $ 290 $ 926 $ 852 Consumer 321 295 929 879 Software and Advisory 93 91 276 263 Total revenue $ 731 $ 676 $ 2,131 $ 1,994 Operating income (loss) Industrial $ 90 $ 87 $ 250 $ 242 Consumer 37 (5) 92 31 Software and Advisory 3 7 5 9 Total operating income $ 130 $ 89 $ 347 $ 282

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements are unaudited and have been prepared in accordance with applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023 included in the Company’s final prospectus for its initial public offering filed with the SEC on April 15, 2024. It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair statement of the Company’s results of operations, financial position and cash flows. Results of operations for any interim period are not necessarily indicative of future or annual results. The Company has reclassified certain amounts in prior period financial statements to conform to the current period’s presentation. On November 20, 2023, the Company effected a 2-for-1 forward split of the Company’s Class A common stock. All share and per share information presented in the accompanying condensed consolidated financial statements and notes thereto has been retrospectively adjusted to reflect the stock split for all periods presented. The authorized shares and the par value of the Class A common stock were not adjusted as a result of the stock split.
Stock-based Compensation	Stock-based Compensation The Company maintains long-term incentive plans under which equity awards are available to be issued to certain employees, officers and directors. Stock-based compensation expense, measured as the fair value of an award on the date of grant, is recognized ratably over the requisite service period, which is generally equal to the vesting period of the respective award, however may be impacted by certain factors including the employee’s death, disability or retirement. Compensation expense related to performance share units is adjusted each reporting period based on the probable outcome of the performance conditions applicable to each grant.
Recently Issued Accounting Standards - Not Adopted	Recently Issued Accounting Standards – Not Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The amendments will be applied retrospectively. The ASU will result in additional segment disclosures within the Company’s financial statements, but is not expected to impact the Company’s financial condition, results of operations or cash flows. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which provides qualitative and quantitative updates to the rate reconciliation and income taxes paid disclosures, among others, in order to enhance the transparency of income tax disclosures, including consistent categories and greater disaggregation of information in the rate reconciliation and disaggregation by jurisdiction of income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. The amendments will be applied prospectively. The ASU will result in additional income tax disclosures within the Company’s financial statements, but is not expected to impact the Company’s financial condition, results of operations or cash flows.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Basic and diluted earnings per share were calculated as follows: Three Months Ended Nine Months Ended (in millions, except per share data) 2024 2023 2024 2023 Net income attributable to stockholders of UL Solutions $ 88 $ 53 $ 245 $ 202 Basic weighted average common shares outstanding 200 200 200 200 Effect of dilutive securities 2 — 1 — Diluted weighted average common shares outstanding 202 200 201 200 Basic earnings per share attributable to stockholders of UL Solutions $ 0.44 $ 0.27 $ 1.23 $ 1.01 Diluted earnings per share attributable to stockholders of UL Solutions $ 0.44 $ 0.27 $ 1.22 $ 1.01

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Revenue by Major Customer Category	The table below summarizes the major service categories from which the Company derives its revenues: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Certification Testing $ 206 $ 182 $ 585 $ 531 Ongoing Certification Services 238 217 705 653 Non-certification Testing and Other Services 220 207 639 605 Software 67 70 202 205 Total $ 731 $ 676 $ 2,131 $ 1,994

Other Income (Expense), net (Ta

Other Income (Expense), net (Tables)	9 Months Ended
	Sep. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other (Expense) Income	The components of other income (expense), net are as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Foreign exchange gains (losses) $ 1 $ (9) $ (5) $ (5) Interest income (a) 1 3 3 6 Unrealized gains on equity investments (a) — 2 — 7 Non-operating pension and postretirement benefit expense (2) (2) (6) (6) Gains on divestitures, net of adjustments (a)(b) (1) — 24 2 Other (a) 1 (1) 2 4 Total $ — $ (7) $ 18 $ 8 __________ (a) The Company has reclassified the amounts presented for the three and nine months ended September 30, 2023 to conform to the current period’s presentation. (b) See Note 4.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Carrying Amount and Fair Value of Company's Debt	The carrying amount and fair value of the Company’s debt was as follows: September 30, 2024 December 31, 2023 (in millions) Carrying Amount Fair Value Carrying Amount Fair Value Term loans $ 500 $ 500 $ 500 $ 500 Revolving credit facility — — 110 110 Senior notes 300 321 300 315 Other 2 2 — — Total $ 802 $ 823 $ 910 $ 925

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Other Assets [Abstract]
Schedule of Other Current Assets	The components of other current assets are as follows: (in millions) September 30, 2024 December 31, 2023 Income tax receivable $ 26 $ 49 Prepaid expenses 43 35 Other 4 13 Total $ 73 $ 97

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill for the nine months ended September 30, 2024 were as follows: Testing, Inspection and Certification Software and Advisory Total (in millions) Industrial Consumer Balance at December 31, 2023 (a) $ 323 $ 230 $ 70 $ 623 Acquisitions 22 — — 22 Effect of changes in foreign exchange rates 3 2 1 6 Balance at September 30, 2024 (a) $ 348 $ 232 $ 71 $ 651 __________ (a) Net of accumulated impairment losses of $137 million as of September 30, 2024 and $166 million as of December 31, 2023.

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following tables summarize intangible assets: September 30, 2024 (in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 263 $ (212) $ 51 Intellectual property and patents 16 (11) 5 Trademarks 23 (18) 5 Total $ 302 $ (241) $ 61 December 31, 2023 (in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 261 $ (204) $ 57 Intellectual property and patents 18 (11) 7 Trademarks 25 (17) 8 Total $ 304 $ (232) $ 72

Pension (Tables)

Pension (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost for Defined Benefit Plan	The components of net periodic benefit cost for the Company’s U.S. defined benefit pension plan were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Components of net periodic benefit cost Service cost $ — $ 1 $ 1 $ 2 Interest cost 4 4 12 12 Expected return on plan assets (3) (4) (10) (11) Amortization of net actuarial loss 1 1 3 3 Net periodic benefit cost $ 2 $ 2 $ 6 $ 6

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Summary of outstanding debt	The Company’s outstanding debt consisted of the following: (in millions) Currency Maturity Date September 30, 2024 December 31, 2023 Term loans USD January 2027 $ 500 $ 500 Revolving credit facility USD January 2027 — 110 Senior notes USD October 2028 300 300 Other USD August 2033 2 — Total debt 802 910 Less: unamortized debt issuance costs (5) (6) Total debt, net of unamortized debt issuance costs 797 904 Less: current portion of long-term debt (37) — Long-term debt $ 760 $ 904

Common Stock (Tables)

Common Stock (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Outstanding Common Stock	The following table shows the number of shares of common stock outstanding and changes in each class of share: Class A Class B Total Balance at December 31, 2023 200,000,000 — 200,000,000 Reclassification (a) (200,000,000) 200,000,000 — Initial public offering (b) 38,870,000 (38,870,000) — Follow-on public offering (c) 23,000,000 (23,000,000) — Shares issued under long-term incentive plans 16,444 — 16,444 Balance at September 30, 2024 61,886,444 138,130,000 200,016,444 __________________ (a) On April 11, 2024, the Company filed an amended and restated certificate of incorporation with the Secretary of State of the State of Delaware, which, among other things, reclassified all shares of the Company’s Class A common stock outstanding into shares of Class B common stock. The amended and restated certificate of incorporation, as well as the Company’s amended and restated bylaws, became effective upon such filing. (b) On April 16, 2024, the Company completed its initial public offering of an aggregate of 38,870,000 shares of Class A common stock by UL Standards & Engagement at a price to the public of $28.00 per share, which included the exercise in full by the underwriters of their overallotment option to purchase an additional 5,070,000 shares of Class A common stock. The Company did not receive any proceeds from the initial public offering. (c)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Summary of Changes in Accumulated Other Comprehensive Loss	The following tables summarize the changes in accumulated other comprehensive loss. Three Months Ended September 30, 2024 (in millions) Foreign Currency Translation Pension and Postretirement Plans Total Balance at June 30, 2024, net of tax $ (74) $ (96) $ (170) Amounts before reclassifications 30 — 30 Amounts reclassified out — 1 1 Total other comprehensive income, net of tax 30 1 31 Balance at September 30, 2024, net of tax $ (44) $ (95) $ (139) Three Months Ended September 30, 2023 (in millions) Foreign Currency Translation Pension and Postretirement Plans Total Balance at June 30, 2023, net of tax $ (59) $ (110) $ (169) Amounts before reclassifications (16) 2 (14) Tax effect — (1) (1) Total other comprehensive (loss) income, net of tax (16) 1 (15) Balance at September 30, 2023, net of tax $ (75) $ (109) $ (184) Nine Months Ended September 30, 2024 (in millions) Foreign Currency Translation Pension and Postretirement Plans Total Balance at December 31, 2023, net of tax $ (49) $ (97) $ (146) Amounts before reclassifications 5 (1) 4 Amounts reclassified out — 3 3 Total other comprehensive income, net of tax 5 2 7 Balance at September 30, 2024, net of tax $ (44) $ (95) $ (139) Nine Months Ended September 30, 2023 (in millions) Foreign Currency Translation Pension and Postretirement Plans Total Balance at December 31, 2022, net of tax $ (54) $ (112) $ (166) Amounts before reclassifications (21) 4 (17) Tax effect — (1) (1) Total other comprehensive (loss) income, net of tax (21) 3 (18) Balance at September 30, 2023, net of tax $ (75) $ (109) $ (184)

Stock-based and Other Incenti_2

Stock-based and Other Incentive Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Compensation Expense	Stock-based compensation expense (benefit) was as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Cost of revenue $ 1 $ — $ 3 $ 1 Selling, general and administrative expenses 9 (3) 22 7 Stock-based compensation expense (benefit) 10 (3) 25 8 Income tax benefit (1) — (4) (2) Stock-based compensation expense (benefit), net $ 9 $ (3) $ 21 $ 6 Stock-based compensation expense (benefit) by type of award Restricted stock units $ 5 $ — $ 8 $ — Performance share units 3 — 4 — Stock options 1 — 2 — Stock-settled stock appreciation rights 1 — 2 — Cash-settled awards — (3) 9 8 Stock-based compensation expense (benefit) $ 10 $ (3) $ 25 $ 8 Compensation expense related to Performance Cash awards was as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Cost of revenue $ 1 $ 1 $ 3 $ 2 Selling, general and administrative expenses 4 3 16 10 Performance Cash compensation expense 5 4 $ 19 $ 12 Income tax benefit — (1) (3) (3) Performance Cash compensation expense, net $ 5 $ 3 $ 16 $ 9
Summary of Restricted Stock Units Activity	The following table summarizes the activity related to the Company’s RSUs during the nine months ended September 30, 2024: Number of RSUs Weighted Average Outstanding as of December 31, 2023 — $ — Granted 799,176 34.67 Forfeited (37,911) 34.85 Outstanding as of September 30, 2024 761,265 $ 34.66
Summary of Performance Share Units Activity	The following table summarizes the activity related to the Company’s PSUs during the nine months ended September 30, 2024: Number of PSUs Weighted Average Outstanding as of December 31, 2023 — $ — Granted 384,483 34.85 Forfeited (13,358) 34.85 Outstanding as of September 30, 2024 371,125 $ 34.85
Summary of Activity Related to Stock Options	The following table summarizes the activity related to the Company’s stock options during the nine months ended September 30, 2024: Number of Stock Options Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding as of December 31, 2023 — $ — Granted 2,074,299 28.00 Forfeited (79,719) 28.00 Outstanding as of September 30, 2024 1,994,580 $ 28.00 9.5 years $ 42 Exercisable as of September 30, 2024 —
Summary of Fair Value Assumptions	The following table summarizes the assumptions used in the Black-Scholes-Merton option-pricing model that was used to estimate the fair value of the stock options at the grant date: April 12, 2024 Expected dividend yield 1.79% Risk-free interest rate 4.48% Weighted average volatility 24.50% Expected life (in years) 6.50 The following table summarizes the assumptions used in the Black-Scholes-Merton option-pricing models that were used to estimate the fair value of the stock appreciation rights at the conversion date: April 16, 2024 Expected dividend yield 1.44% Risk-free interest rate 4.78% - 5.41% Weighted average volatility 22.50% Expected life (in years) 0.11 - 2.96
Summary of SAR Activity	The following table summarizes the activity related to the Company’s CSARs during the nine months ended September 30, 2024: Number of CSAR Awards Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding as of December 31, 2023 3,452,120 $ 18.77 1.72 years $ 37 CSARs converted to SSARs (1,978,761) 21.12 Exercised (863,648) 7.46 Cancelled (470,992) 30.06 Forfeited (19,815) 29.10 Outstanding as of September 30, 2024 118,904 $ 15.47 1.04 years $ 4 Exercisable as of September 30, 2024 104,618 $ 13.63 0.75 years $ 4 The following table summarizes the activity related to the Company’s SSARs during the nine months ended September 30, 2024: Number of SSAR Awards Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding as of December 31, 2023 — $ — SSARs converted from CSARs 1,978,761 21.12 Exercised (29,278) 13.59 Forfeited (46,214) 29.12 Outstanding as of September 30, 2024 1,903,269 $ 21.04 1.93 years $ 54 Exercisable as of September 30, 2024 959,363 $ 13.11 0.82 years $ 35

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Reconciliation of Revenue and Operating Income of the Company's Reportable Segments	Revenue and operating income of the Company’s segments were as follows: Three Months Ended Nine Months Ended (in millions) 2024 2023 2024 2023 Revenue Industrial $ 317 $ 290 $ 926 $ 852 Consumer 321 295 929 879 Software and Advisory 93 91 276 263 Total revenue $ 731 $ 676 $ 2,131 $ 1,994 Operating income (loss) Industrial $ 90 $ 87 $ 250 $ 242 Consumer 37 (5) 92 31 Software and Advisory 3 7 5 9 Total operating income $ 130 $ 89 $ 347 $ 282

Significant Accounting Polici_3

Significant Accounting Policies - Initial Public Offering (Details) - Common Class A - $ / shares	Sep. 09, 2024	Apr. 16, 2024
IPO
Subsidiary, Sale of Stock [Line Items]
Shares sold in IPO (in shares)		38,870,000
Price per share for IPO (in dollars per share)		$ 28
Follow on Public Offering
Subsidiary, Sale of Stock [Line Items]
Shares sold in IPO (in shares)	23,000,000
Price per share for IPO (in dollars per share)	$ 49

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details)	Nov. 20, 2023
Accounting Policies [Abstract]
Forward stock split conversion ratio	2

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income attributable to stockholders of UL Solutions	$ 88	$ 53	$ 245	$ 202
Basic weighted average common shares outstanding (in shares)	200	200	200	200
Effect of dilutive securities (in shares)	2	0	1	0
Diluted weighted average common shares outstanding (in shares)	202	200	201	200
Basic earnings per share attributable to stockholder of UL Solutions (in dollars per share)	$ 0.44	$ 0.27	$ 1.23	$ 1.01
Diluted earnings per share attributable to stockholder of UL Solutions (in dollars per share)	$ 0.44	$ 0.27	$ 1.22	$ 1.01

Revenue - Major Service Categor

Revenue - Major Service Categories (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from External Customer [Line Items]
Total revenue	$ 731	$ 676	$ 2,131	$ 1,994
Certification Testing
Revenue from External Customer [Line Items]
Total revenue	206	182	585	531
Ongoing Certification Services
Revenue from External Customer [Line Items]
Total revenue	238	217	705	653
Non-certification Testing and Other Services
Revenue from External Customer [Line Items]
Total revenue	220	207	639	605
Software
Revenue from External Customer [Line Items]
Total revenue	$ 67	$ 70	$ 202	$ 205

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized	$ 27	$ 21	$ 106	$ 101
Revenue to be recognized in future	$ 164		$ 164
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognized revenue percentage	64%		64%
Recognized revenue satisfaction period	12 months		12 months

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisitions (Details) - USD ($) $ in Millions	1 Months Ended
	Jul. 31, 2024	May 31, 2024	Aug. 31, 2023	Jul. 31, 2023	Sep. 30, 2024	Dec. 31, 2023
Asset Acquisition [Line Items]
Goodwill					$ 651	$ 623
TesTneT Engineering GmbH
Asset Acquisition [Line Items]
Percentage of business acquired	100%
Cash consideration	$ 19
Goodwill	$ 15
Batterielngenieure GmbH (“BI”)
Asset Acquisition [Line Items]
Percentage of business acquired		100%
Cash consideration		$ 11
Goodwill		7
Property, plant, and equipment		$ 9
Certification Entity for Renewable Energies (CERE)
Asset Acquisition [Line Items]
Percentage of business acquired			100%
Cash consideration			$ 14
Goodwill			$ 11
HBI Compliance Limited Asset Acquisition
Asset Acquisition [Line Items]
Percentage of business acquired				100%
Cash consideration				$ 6

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Divestitures and Held for Sale (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on divestiture		$ (1)	$ 0	$ 24	$ 2
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Payments Testing Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds	$ 30
Gain on divestiture	$ 24
Disposal Group, Held-for-Sale, Not Discontinued Operations | Testing Laboratory
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other assets classified as held-for-sale		$ 11		$ 11

Other Income (Expense), net (De

Other Income (Expense), net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Foreign exchange gains (losses)	$ 1		$ (5)	$ (7)
Foreign exchange gains (losses)		$ (9)		(5)
Interest income	1	3	3	6
Unrealized gains on equity investments	0	2	0	7
Non-operating pension and postretirement benefit expense	(2)	(2)	(6)	(6)
Gains on divestitures, net of adjustments	(1)	0	24	2
Other	1	(1)	2	4
Total	$ 0	$ (7)	$ 18	$ 8

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 802	$ 910
Carrying Amount | Term loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	500	500
Carrying Amount | Senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	300	300
Carrying Amount | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2	0
Carrying Amount | Revolving credit facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	110
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	823	925
Fair Value | Term loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	500	500
Fair Value | Senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	321	315
Fair Value | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2	0
Fair Value | Revolving credit facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 0	$ 110

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Other Assets [Abstract]
Income tax receivable	$ 26	$ 49
Prepaid expenses	43	35
Other	4	13
Total	$ 73	$ 97

Investments in Equity Securit_2

Investments in Equity Securities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Carrying amount of investments	$ 42	$ 42
Assets	2,877	2,736
Liabilities	$ 1,981	2,058
Variable Interest Entity, Primary Beneficiary
Debt and Equity Securities, FV-NI [Line Items]
Equity ownership percentage	70%
Assets	$ 182	178
Liabilities	$ 83	$ 82

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Beginning balance	$ 623
Acquisitions	22
Effect of changes in foreign exchange rates	6
Ending balance	651
Accumulated impairment loss	137	$ 166
Industrial | Operating Segments
Goodwill [Roll Forward]
Beginning balance	323
Acquisitions	22
Effect of changes in foreign exchange rates	3
Ending balance	348
Consumer | Operating Segments
Goodwill [Roll Forward]
Beginning balance	230
Acquisitions	0
Effect of changes in foreign exchange rates	2
Ending balance	232
Software and Advisory | Operating Segments
Goodwill [Roll Forward]
Beginning balance	70
Acquisitions	0
Effect of changes in foreign exchange rates	1
Ending balance	$ 71

Intangible Assets (Details)

Intangible Assets (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
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 302		$ 302		$ 304
Accumulated Amortization	(241)		(241)		(232)
Net Carrying Amount	61		61		72
Intangible asset amortization expense	4	$ 4	10	$ 12
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	263		263		261
Accumulated Amortization	(212)		(212)		(204)
Net Carrying Amount	51		51		57
Intellectual property and patents
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	16		16		18
Accumulated Amortization	(11)		(11)		(11)
Net Carrying Amount	5		5		7
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	23		23		25
Accumulated Amortization	(18)		(18)		(17)
Net Carrying Amount	$ 5		$ 5		$ 8

Pension - Defined Benefit Plan

Pension - Defined Benefit Plan (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	$ 0	$ 1	$ 1	$ 2
Interest cost	4	4	12	12
Expected return on plan assets	(3)	(4)	(10)	(11)
Amortization of net actuarial loss	1	1	3	3
Net periodic benefit cost	$ 2	$ 2	$ 6	$ 6

Pension - Defined Contribution

Pension - Defined Contribution Plan (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]
Contributions	$ 11	$ 11	$ 36	$ 34

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	19%	24%	19.50%	19.90%
Deferred tax assets	$ 5		$ 5

Long-Term Debt - Outstanding De

Long-Term Debt - Outstanding Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 802	$ 910
Less: unamortized debt issuance costs	(5)	(6)
Total debt, net of unamortized debt issuance costs	797	904
Less: current portion of long-term debt	(37)	0
Long-term debt	760	904
Term loans
Debt Instrument [Line Items]
Total debt	500	500
Senior notes
Debt Instrument [Line Items]
Total debt	300	300
Other
Debt Instrument [Line Items]
Total debt	2	0
Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Total debt	$ 0	$ 110

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Millions	Jun. 28, 2024	Sep. 30, 2024	Dec. 31, 2023	Oct. 31, 2023	Jan. 31, 2022
Credit Facility | Term Loans and Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 1,250
Credit Facility | Term loans
Debt Instrument [Line Items]
Interest rate		6.07%	6.46%
Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
SOFR adjustment	0.10%
Credit Facility | Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Interest rate			6.45%
Senior Notes Due 2028 | Senior notes
Debt Instrument [Line Items]
Face amount				$ 300
Fixed interest rate				6.50%

Common Stock - Narrative (Detai

Common Stock - Narrative (Details)	Sep. 30, 2024 vote $ / shares shares	Dec. 31, 2023 $ / shares shares
Class of Stock [Line Items]
Preferred stock authorized (in shares)	10,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.001
Preferred stock outstanding (in shares)	0	0
UL Solutions | UL Standards & Engagement Liabrary Access
Class of Stock [Line Items]
Ownership percentage	69.10%
Voting power	95.70%
Common Class A
Class of Stock [Line Items]
Common stock authorized (in shares)	1,000,000,000	200,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.001	$ 0.001
Votes per share | vote	1
Common Class B
Class of Stock [Line Items]
Common stock authorized (in shares)	500,000,000	200,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.001	$ 0.001
Votes per share | vote	10

Common Stock - Common Stock Out

Common Stock - Common Stock Outstanding (Details) - $ / shares			9 Months Ended
	Sep. 09, 2024	Apr. 16, 2024	Sep. 30, 2024
Common Stock Outstanding [Roll Forward]
Balance, beginning of period (in shares)			200,000,000
Reclassification (in shares)			0
Initial public offering (in shares)			0
Follow-on public offering (in shares)			0
Shares issued under long-term incentive plans (in shares)			16,444
Balance, end of period (in shares)			200,016,444
Common Class A
Common Stock Outstanding [Roll Forward]
Balance, beginning of period (in shares)			200,000,000
Reclassification (in shares)			(200,000,000)
Initial public offering (in shares)			38,870,000
Follow-on public offering (in shares)			23,000,000
Shares issued under long-term incentive plans (in shares)			16,444
Balance, end of period (in shares)			61,886,444
Common Class A | IPO
Common Stock Outstanding [Roll Forward]
Shares sold in IPO (in shares)		38,870,000
Price per share for IPO (in dollars per share)		$ 28
Common Class A | Over-Allotment Option
Common Stock Outstanding [Roll Forward]
Shares sold in IPO (in shares)	3,000,000	5,070,000
Common Class A | Follow on Public Offering
Common Stock Outstanding [Roll Forward]
Shares sold in IPO (in shares)	23,000,000
Price per share for IPO (in dollars per share)	$ 49
Common Class B
Common Stock Outstanding [Roll Forward]
Balance, beginning of period (in shares)			0
Reclassification (in shares)			200,000,000
Initial public offering (in shares)			(38,870,000)
Follow-on public offering (in shares)			(23,000,000)
Shares issued under long-term incentive plans (in shares)			0
Balance, end of period (in shares)			138,130,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balances, beginning of period	$ 786	$ 1,175	$ 678	$ 1,077
Total other comprehensive income (loss)	32	(15)	7	(19)
Balances, end of period	896	1,197	896	1,197
​Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balances, beginning of period	(74)	(59)	(49)	(54)
Amounts before reclassifications	30	(16)	5	(21)
Amounts reclassified out	0		0
Tax effect		0		0
Total other comprehensive income (loss)	30	(16)	5	(21)
Balances, end of period	(44)	(75)	(44)	(75)
Pension and Postretirement Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balances, beginning of period	(96)	(110)	(97)	(112)
Amounts before reclassifications	0	2	(1)	4
Amounts reclassified out	1		3
Tax effect		(1)		(1)
Total other comprehensive income (loss)	1	1	2	3
Balances, end of period	(95)	(109)	(95)	(109)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balances, beginning of period	(170)	(169)	(146)	(166)
Amounts before reclassifications	30	(14)	4	(17)
Amounts reclassified out	1		3
Tax effect		(1)		(1)
Total other comprehensive income (loss)	31	(15)	7	(18)
Balances, end of period	$ (139)	$ (184)	$ (139)	$ (184)

Stock-based and Other Incenti_3

Stock-based and Other Incentive Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2024	Sep. 30, 2024	Apr. 30, 2024	Apr. 16, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value, stock options (in dollars per share)		$ 7.84
Additional paid-in capital		$ 817			$ 776
Accrued compensation and benefits		223			281
Other liabilities		$ 101			93
2024 Long-Term Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock reserved for issuance (in shares)		19,983,556	20,000,000
2024 Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock reserved for issuance (in shares)		5,000,000	5,000,000
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		3 years
Unrecognized compensation expense		$ 19
Unrecognized share-based compensation cost, period of recognition		2 years 3 months 18 days
Weighted average grant date fair value per share of rights granted (in dollars per share)		$ 34.67
Restricted stock units | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversion period		5 years
Restricted stock units | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversion period		10 years
Performance share units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		3 years
Unrecognized compensation expense		$ 14
Unrecognized share-based compensation cost, period of recognition		2 years 6 months
Weighted average grant date fair value per share of rights granted (in dollars per share)		$ 34.85
Performance share units | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum potential value		0%
Performance share units | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum potential value		200%
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		3 years
Unrecognized share-based compensation cost, period of recognition		2 years 7 months 6 days
Expiration period		10 years
Unrecognized stock-based compensation expense related to stock options		$ 13
Cash-settled awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accrued compensation and benefits and other liabilities				$ (26)
Additional paid-in capital				$ 26
Pre-tax compensation expense	$ 9
Weighted average grant date fair value per share of rights granted (in dollars per share)		$ 5.28
Accrued compensation and benefits		$ 4			37
Other liabilities		0			2
Cash-settled awards | Industrial
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Pre-tax compensation expense	4
Cash-settled awards | Consumer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Pre-tax compensation expense	4
Cash-settled awards | Software and Advisory
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Pre-tax compensation expense	$ 1
Stock-settled stock appreciation rights
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense		$ 3
Unrecognized share-based compensation cost, period of recognition		1 year 3 months 18 days
Weighted average grant date fair value per share of rights granted (in dollars per share)		$ 6.15
Performance Cash Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		3 years
Accrued compensation and benefits		$ 16			16
Other liabilities		$ 17			$ 13
Performance Cash Awards | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum potential value		0%
Performance Cash Awards | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum potential value		200%

Stock-based and Other Incenti_4

Stock-based and Other Incentive Compensation - Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	$ 10	$ (3)	$ 25	$ 8
Income tax benefit	(1)	0	(4)	(2)
Stock-based / Performance cash compensation expense (benefit), net	9	(3)	21	6
Restricted stock units
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	5	0	8	0
Performance share units
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	3	0	4	0
Stock options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	1	0	2	0
Stock-settled stock appreciation rights
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	1	0	2	0
Cash-settled awards
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	0	(3)	9	8
Performance Cash Awards
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	5	4	19	12
Income tax benefit	0	(1)	(3)	(3)
Stock-based / Performance cash compensation expense (benefit), net	5	3	16	9
Cost of revenue
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	1	0	3	1
Cost of revenue | Performance Cash Awards
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	1	1	3	2
Selling, general and administrative expenses
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	9	(3)	22	7
Selling, general and administrative expenses | Performance Cash Awards
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based / Performance cash compensation expense (benefit)	$ 4	$ 3	$ 16	$ 10

Stock-based and Other Incenti_5

Stock-based and Other Incentive Compensation - Stock Activity (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares) | shares	0
Granted (in shares) | shares	799,176
Forfeited (in shares) | shares	(37,911)
Outstanding, ending balance (in shares) | shares	761,265
Weighted Average Grant Date Fair Value
Shares outstanding, Weighted average grant price, beginning balance (in dollars per share)	$ 0
Granted (in dollars per share)	34.67
Forfeited (in dollars per share)	34.85
Shares outstanding, Weighted average grant price, ending balance (in dollars per share)	$ 34.66
Performance share units
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares) | shares	0
Granted (in shares) | shares	384,483
Forfeited (in shares) | shares	(13,358)
Outstanding, ending balance (in shares) | shares	371,125
Weighted Average Grant Date Fair Value
Shares outstanding, Weighted average grant price, beginning balance (in dollars per share)	$ 0
Granted (in dollars per share)	34.85
Forfeited (in dollars per share)	34.85
Shares outstanding, Weighted average grant price, ending balance (in dollars per share)	34.85
Cash-settled awards
Weighted Average Grant Date Fair Value
Shares outstanding, Weighted average grant price, beginning balance (in dollars per share)	18.77
Granted (in dollars per share)	$ 5.28

Stock-based and Other Incenti_6

Stock-based and Other Incentive Compensation - Stock Options (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)	0
Granted (in shares)	2,074,299
Forfeited (in shares)	(79,719)
Outstanding, ending balance (in shares)	1,994,580
Weighted Average Exercise Price
Granted (in dollars per share) | $ / shares	$ 28
Forfeited (in dollars per share) | $ / shares	28
Outstanding, ending balance (in dollars per share) | $ / shares	$ 28
Stock Options Additional Disclosures
Options outstanding, Weighted average remaining contractual term	9 years 6 months
Options outstanding, Aggregate intrinsic value | $	$ 42
Options exercisable, Number of options (in shares)	0

Stock-based and Other Incenti_7

Stock-based and Other Incentive Compensation - Fair Value Assumptions (Details)	Apr. 16, 2024	Apr. 12, 2024
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield		1.79%
Risk-free interest rate		4.48%
Weighted average volatility		24.50%
Expected life (in years)		6 years 6 months
Stock Appreciation Rights (SARs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield	1.44%
Risk-free interest rate, minimum	4.78%
Risk-free interest rate, maximum	5.41%
Weighted average volatility	22.50%
Minimum | Stock Appreciation Rights (SARs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life (in years)	1 month 9 days
Maximum | Stock Appreciation Rights (SARs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life (in years)	2 years 11 months 15 days

Stock-based and Other Incenti_8

Stock-based and Other Incentive Compensation - Stock Appreciation Rights Activity (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Cash-settled awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)	3,452,120
CSARs converted to SSARs / SSARs converted from CSARs (in shares)	(1,978,761)
Exercised (in shares)	(863,648)
Cancelled (in shares)	(470,992)
Forfeited (in shares)	(19,815)
Outstanding, ending balance (in shares)	118,904	3,452,120
Weighted Average Exercise Price
Shares outstanding, Weighted average grant price, beginning balance (in dollars per share)		$ 18.77
CSARs converted to SSARs / SSARs converted from CSARs (in dollars per share)	$ 21.12
Exercised (in dollars per share)	7.46
Cancelled (in dollars per share)	30.06
Forfeited (in dollars per share)	29.10
Shares outstanding, Weighted average grant price, ending balance (in dollars per share)	$ 15.47
Shares outstanding, Weighted average remaining contractual life	1 year 14 days	1 year 8 months 19 days
Shares outstanding, Aggregate intrinsic value	$ 4	$ 37
Exercisable (in shares)	104,618
Exercisable (in dollars per share)	$ 13.63
Exercisable, Weighted average remaining contractual life	9 months
Exercisable, Aggregate intrinsic value	$ 4
Stock-settled stock appreciation rights
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)	0
CSARs converted to SSARs / SSARs converted from CSARs (in shares)	1,978,761
Exercised (in shares)	(29,278)
Forfeited (in shares)	(46,214)
Outstanding, ending balance (in shares)	1,903,269	0
Weighted Average Exercise Price
CSARs converted to SSARs / SSARs converted from CSARs (in dollars per share)	$ 21.12
Exercised (in dollars per share)	13.59
Forfeited (in dollars per share)	29.12
Shares outstanding, Weighted average grant price, ending balance (in dollars per share)	$ 21.04
Shares outstanding, Weighted average remaining contractual life	1 year 11 months 4 days
Shares outstanding, Aggregate intrinsic value	$ 54
Exercisable (in shares)	959,363
Exercisable (in dollars per share)	$ 13.11
Exercisable, Weighted average remaining contractual life	9 months 25 days
Exercisable, Aggregate intrinsic value	$ 35

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Dividends to stockholders of UL Solutions	$ 25	$ 20	$ 75	$ 60
UL Standards & Engagement Transactions
Related Party Transaction [Line Items]
Incurred expenses	6	6	16	16
Related Party
Related Party Transaction [Line Items]
Dividends to stockholders of UL Solutions	$ 20	$ 20	$ 65	$ 60

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 731	$ 676	$ 2,131	$ 1,994
Total operating income	130	89	347	282
Industrial | Operating Segments
Segment Reporting Information [Line Items]
Total revenue	317	290	926	852
Total operating income	90	87	250	242
Consumer | Operating Segments
Segment Reporting Information [Line Items]
Total revenue	321	295	929	879
Total operating income	37	(5)	92	31
Software and Advisory | Operating Segments
Segment Reporting Information [Line Items]
Total revenue	93	91	276	263
Total operating income	$ 3	$ 7	$ 5	$ 9