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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Components of Earnings (Loss) From Continuing Operations | The U.S. and foreign components of earnings (loss) from continuing operations before income taxes and equity in loss of investee companies were as follows:
|  |  | Successor |  |  | Predecessor
|  |  | Period From August 7 - December 31, |  |  | Period From January 1 - August 6, |  | Year Ended December 31,
|  |  |  |  | 2025 |  |  | 2025 |  | 2024 |  | 2023
United States |  |  |  |  |  | $ | (652) |  |  |  |  |  | $ | 157 |  |  |  | $ | (5,862) |  |  | $ | (2,039) |
Foreign |  |  |  |  |  | 176 |  |  |  |  |  | 347 |  |  |  | (315) |  |  | 786 |
Total |  |  |  |  |  | $ | (476) |  |  |  |  |  | $ | 504 |  |  |  | $ | (6,177) |  |  | $ | (1,253) |
Schedule of Components of Income Tax Provision (Benefit) | The components of the (benefit from) provision for income taxes were as follows:
|  |  | Successor |  |  | Predecessor
|  |  | Period From August 7 - December 31, |  |  | Period From January 1 - August 6, |  | Year Ended December 31,
|  |  |  |  | 2025 |  |  | 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  |  |  |  | $ | (11) |  |  |  |  |  | $ | 144 |  |  |  | $ | 121 |  |  | $ | 70 |
State and local |  |  |  |  |  | (5) |  |  |  |  |  | 74 |  |  |  | 56 |  |  | 84 |
Foreign |  |  |  |  |  | 91 |  |  |  |  |  | 104 |  |  |  | 148 |  |  | 135 |
Total current |  |  |  |  |  | 75 |  |  |  |  |  | 322 |  |  |  | 325 |  |  | 289 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  |  |  |  | $ | (139) |  |  |  |  |  | $ | (341) |  |  |  | $ | (538) |  |  | $ | (556) |
State and local |  |  |  |  |  | 21 |  |  |  |  |  | (73) |  |  |  | (116) |  |  | (110) |
Foreign |  |  |  |  |  | 3 |  |  |  |  |  | 13 |  |  |  | 24 |  |  | 16 |
Total deferred |  |  |  |  |  | (115) |  |  |  |  |  | (401) |  |  |  | (630) |  |  | (650) |
Benefit from income taxes |  |  |  |  |  | $ | (40) |  |  |  |  |  | $ | (79) |  |  |  | $ | (305) |  |  | $ | (361) |
Schedule of Reconciliation of U.S. Federal Statutory Income Tax Rate | The difference between income taxes expected at the U.S. federal statutory income tax rate of 21% and the (benefit from) provision for income taxes is summarized as follows:
|  |  | Successor |  |  | Predecessor
|  |  | Period From August 7 - December 31, |  |  | Period From January 1 - August 6, |  |
|  |  |  |  | 2025 |  |  | 2025 |  |  |  |
|  |  |  |  | Amount |  | Percent |  |  | Amount |  | Percent |  |  |  |
Taxes on income at U.S. federal statutory rate |  |  |  |  | $ | (100) |  |  | 21.0 | % |  |  | $ | 106 |  |  | 21.0 | % |  |  |  |
State and local taxes, net of federal tax benefit (a) |  |  |  |  | 6 |  |  | (1.3) | % |  |  | (17) |  |  | (3.4) | % |  |  |  |
Effect of foreign operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Statutory tax rate difference |  |  |  |  | 6 |  |  | (1.3) | % |  |  | 7 |  |  | 1.4 | % |  |  |  |
UK consortium group relief |  |  |  |  | (29) |  |  | 6.1 | % |  |  | (37) |  |  | (7.3) | % |  |  |  |
Withholding taxes |  |  |  |  | (4) |  |  | 0.8 | % |  |  | (5) |  |  | (1.0) | % |  |  |  |
Provision to return |  |  |  |  | (13) |  |  | 2.7 | % |  |  | — |  |  | — | % |  |  |  |
Other |  |  |  |  | 2 |  |  | (0.4) | % |  |  | 7 |  |  | 1.4 | % |  |  |  |
Canada |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Withholding taxes |  |  |  |  | 28 |  |  | (5.9) | % |  |  | 28 |  |  | 5.5 | % |  |  |  |
Other |  |  |  |  | 5 |  |  | (1.0) | % |  |  | 1 |  |  | 0.2 | % |  |  |  |
Netherlands |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision to return |  |  |  |  | 16 |  |  | (3.4) | % |  |  | — |  |  | — | % |  |  |  |
Other |  |  |  |  | — |  |  | — | % |  |  | 3 |  |  | 0.6 | % |  |  |  |
Australia |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Statutory tax rate difference |  |  |  |  | (3) |  |  | 0.6 | % |  |  | (6) |  |  | (1.2) | % |  |  |  |
Changes in valuation allowances |  |  |  |  | 5 |  |  | (1.0) | % |  |  | 25 |  |  | 5.0 | % |  |  |  |
Other |  |  |  |  | 5 |  |  | (1.0) | % |  |  | 3 |  |  | 0.6 | % |  |  |  |
Germany |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision to return |  |  |  |  | 6 |  |  | (1.3) | % |  |  | 1 |  |  | 0.2 | % |  |  |  |
Other |  |  |  |  | — |  |  | — | % |  |  | 1 |  |  | 0.2 | % |  |  |  |
Chile |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in valuation allowances |  |  |  |  | 7 |  |  | (1.5) | % |  |  | — |  |  | — | % |  |  |  |
Other |  |  |  |  | (2) |  |  | 0.4 | % |  |  | (1) |  |  | (0.2) | % |  |  |  |
Barbados |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Statutory tax rate difference |  |  |  |  | (11) |  |  | 2.3 | % |  |  | (16) |  |  | (3.2) | % |  |  |  |
Pillar Two |  |  |  |  | 14 |  |  | (2.9) | % |  |  | — |  |  | — | % |  |  |  |
Italy |  |  |  |  | 8 |  |  | (1.7) | % |  |  | 5 |  |  | 1.0 | % |  |  |  |
Other foreign jurisdictions |  |  |  |  | 17 |  |  | (3.6) | % |  |  | 21 |  |  | 4.2 | % |  |  |  |
Effect of cross-border tax laws: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign tax credits |  |  |  |  | (62) |  |  | 13.0 | % |  |  | (51) |  |  | (10.1) | % |  |  |  |
Foreign-derived intangible income |  |  |  |  | — |  |  | — | % |  |  | (48) |  |  | (9.5) | % |  |  |  |
U.S. tax on foreign entities |  |  |  |  | — |  |  | — | % |  |  | 8 |  |  | 1.6 | % |  |  |  |
Subpart F income |  |  |  |  | 23 |  |  | (4.8) | % |  |  | — |  |  | — | % |  |  |  |
Tax credits |  |  |  |  | — |  |  | — | % |  |  | (4) |  |  | (0.8) | % |  |  |  |
Changes in valuation allowances |  |  |  |  | 5 |  |  | (1.0) | % |  |  | (94) |  |  | (18.7) | % |  |  |  |
Nontaxable and nondeductible items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation |  |  |  |  | 25 |  |  | (5.2) | % |  |  | 5 |  |  | 1.0 | % |  |  |  |
Noncontrolling interests |  |  |  |  | (9) |  |  | 1.9 | % |  |  | (93) |  |  | (18.5) | % |  |  |  |
Transaction-related items |  |  |  |  | 1 |  |  | (0.2) | % |  |  | 14 |  |  | 2.8 | % |  |  |  |
Excess tax (benefit) deficiency from stock-based compensation |  |  |  |  | (2) |  |  | 0.4 | % |  |  | 9 |  |  | 1.8 | % |  |  |  |
Other |  |  |  |  | 4 |  |  | (0.8) | % |  |  | (4) |  |  | (0.8) | % |  |  |  |
Changes in reserve for uncertain tax positions |  |  |  |  | 11 |  |  | (2.3) | % |  |  | 57 |  |  | 11.3 | % |  |  |  |
Other, net |  |  |  |  | 1 |  |  | (0.2) | % |  |  | (4) |  |  | (0.8) | % |  |  |  |
Benefit from income taxes |  |  |  |  | $ | (40) |  |  | 8.4 | % |  |  | $ | (79) |  |  | (15.7) | % |  |  |  |
(a) State taxes in Pennsylvania, New York, California, New Jersey, Ohio, and Oregon comprise the majority of the tax effect in this category.
|  |  |  |  |  |  |  |  |  | Predecessor
|  |  |  |  |  |  |  | Year Ended December 31,
|  |  |  |  |  |  |  |  |  | 2024 |  | 2023
Taxes on income at U.S. federal statutory rate |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,297) |  |  | $ | (263) |
State and local taxes, net of federal tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  | (56) |  |  | (13) |
Effect of foreign operations |  |  |  |  |  |  |  |  |  |  |  |  |  | 74 |  |  | (97) |
Noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  | (7) |  |  | (6) |
Goodwill impairment |  |  |  |  |  |  |  |  |  |  |  |  |  | 819 |  |  | — |
Interest limitation carryforward valuation allowance |  |  |  |  |  |  |  |  |  |  |  |  |  | 101 |  |  | — |
Non-deductible expenses |  |  |  |  |  |  |  |  |  |  |  |  |  | 55 |  |  | 9 |
Reorganization of foreign operations |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (4) |
Tax deficiency from stock-based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  | 18 |  |  | 18 |
Other, net |  |  |  |  |  |  |  |  |  |  |  |  |  | (12) |  |  | (5) |
Benefit from income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (305) |  |  | $ | (361) |
Schedule of Components of Deferred Income Tax Assets and Liabilities | The following table summarizes the components of deferred income tax assets and liabilities.
| Successor |  |  | Predecessor
| At |  |  | At
| December 31, 2025 |  |  | December 31, 2024
Deferred income tax assets: |  |  |  |  |  |  |  |
Reserves and other accrued liabilities |  | $ | 606 |  |  |  |  |  | $ | 354 |  |
Pension, postretirement and other employee benefits |  | 437 |  |  |  |  |  | 460 |  |
Lease liability |  | 348 |  |  |  |  |  | 409 |  |
Tax credit and loss carryforwards |  | 893 |  |  |  |  |  | 538 |  |
Interest limitation carryforward |  | 13 |  |  |  |  |  | 114 |  |
Capitalized costs |  | 383 |  |  |  |  |  | 180 |  |
Intangible assets |  | — |  |  |  |  |  | 428 |  |
Investments |  | 406 |  |  |  |  |  | 25 |  |
Other |  | 5 |  |  |  |  |  | 10 |  |
Total deferred income tax assets |  | 3,091 |  |  |  |  |  | 2,518 |  |
Valuation allowance |  | (625) |  |  |  |  |  | (655) |  |
Deferred income tax assets, net of valuation allowance |  | 2,466 |  |  |  |  |  | 1,863 |  |
Deferred income tax liabilities: |  |  |  |  |  |  |  |
Intangible assets |  | (395) |  |  |  |  |  | — |  |
Lease asset |  | (308) |  |  |  |  |  | (340) |  |
Property, equipment and other assets |  | (267) |  |  |  |  |  | (89) |  |
Financing obligations |  | (285) |  |  |  |  |  | (66) |  |
Other |  | (14) |  |  |  |  |  | (16) |  |
Total deferred income tax liabilities |  | (1,269) |  |  |  |  |  | (511) |  |
Deferred income tax assets, net |  | $ | 1,197 |  |  |  |  |  | $ | 1,352 |  |
Schedule of Income Taxes Paid | The income taxes paid (net of refunds) were as follows:
| Successor |  |  | Predecessor
| Period From August 7 - December 31, |  |  | Period From January 1 - August 6,
| 2025 |  |  | 2025
Federal |  | $ | — |  |  |  |  |  | $ | 196 |  |
State and local: |  |  |  |  |  |  |  |
Hawaii |  | — |  |  |  |  |  | (49) |  |
Other |  | 19 |  |  |  |  |  | 9 |  |
Foreign: |  |  |  |  |  |  |  |
Canada |  | 14 |  |  |  |  |  | (21) |  |
Italy |  | 12 |  |  |  |  |  | 5 |  |
United Kingdom |  | 2 |  |  |  |  |  | 17 |  |
Other |  | 23 |  |  |  |  |  | 44 |  |
Total |  | $ | 70 |  |  |  |  |  | $ | 201 |  |
Supplemental Cash Flow Information
| Successor |  |  | Predecessor
| Period From August 7 - December 31, |  |  | Period From January 1 - August 6, |  | Year Ended December 31,
| 2025 |  |  | 2025 |  | 2024 |  | 2023
Cash paid for interest |  | $ | 296 |  |  |  |  |  | $ | 524 |  |  |  | $ | 833 |  |  | $ | 901 |
Cash paid for income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Continued operations |  | $ | 70 |  |  |  |  |  | $ | 201 |  |  |  | $ | 184 |  |  | $ | 22 |
Discontinued operations |  | — |  |  |  |  |  | — |  |  |  | — |  |  | 85 |
Total cash paid for income taxes |  | $ | 70 |  |  |  |  |  | $ | 201 |  |  |  | $ | 184 |  |  | $ | 107 |
Schedule of Change in Reserve for Uncertain Tax Positions | The following table sets forth the change in the reserve for uncertain tax positions, excluding related accrued interest and penalties.
At 1/1/2023 (Predecessor) | $ | 303 |
Additions for current year tax positions | 15 |
Additions for prior year tax positions | 20 |
Reductions for prior year tax positions | (46) |
Cash settlements | (2) |
Statute of limitations lapses | (4) |
At December 31, 2023 (Predecessor) | 286 |
Additions for current year tax positions | 12 |
Additions for prior year tax positions | 3 |
Reductions for prior year tax positions | (14) |
Cash settlements | (3) |
Statute of limitations lapses | (4) |
At December 31, 2024 (Predecessor) | 280 |
Additions for current year tax positions | 6 |
Additions for prior year tax positions | 154 |
Reductions for prior year tax positions | (8) |
Statute of limitations lapses | (1) |
At August 6, 2025 (Predecessor) | 431 |
Additions for current year tax positions | 3 |
Additions for prior year tax positions | 2 |
Reductions for prior year tax positions | (3) |
Cash settlements | (1) |
Statute of limitations lapses | (1) |
At December 31, 2025 (Successor) | $ | 431 |

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