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BUSINESS COMBINATIONS (Tables) | 12 Months Ended
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Dec. 31, 2023
Business Combinations [Abstract] |
Schedule of Asset Acquisitions | The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the dates of acquisition:
| Acquisition A23 |  | Acquisition B23 |  | Other 2023 acquisitions
Cash paid at closing | $ | 30 |  |  | $ | 27 |  |  | $ | 22 |
Cash deposited into escrow | 5 |  |  | — |  |  | — |
Accrued consideration | 3 |  |  | 5 |  |  | 2 |
Total net consideration | $ | 38 |  |  | $ | 32 |  |  | $ | 24 |
Cash and cash equivalents | — |  |  | 1 |  |  | — |
Accounts receivable | 8 |  |  | 7 |  |  | — |
Contract assets | 1 |  |  | 2 |  |  | — |
Other current assets | — |  |  | 2 |  |  | 1 |
Intangible assets | 13 |  |  | 12 |  |  | 9 |
Goodwill | 19 |  |  | 12 |  |  | 16 |
Other accrued liabilities | — |  |  | (2) |  |  | — |
Contract liabilities | (3) |  |  | (2) |  |  | (2) |
Net assets acquired | $ | 38 |  |  | $ | 32 |  |  | $ | 24 |
The following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of the Chubb Acquisition:
Cash paid at closing | $ | 2,935 |
Working capital and net indebtedness adjustment | (42) |
Total net consideration | $ | 2,893 |
Cash | 60 |
Accounts receivable | 426 |
Inventories | 68 |
Contract assets | 183 |
Other current assets | 25 |
Property and equipment | 73 |
Operating lease right of use assets | 146 |
Pension and post-retirement assets | 626 |
Other noncurrent assets | 8 |
Intangible assets | 1,200 |
Goodwill | 1,367 |
Accounts payable | (192) |
Contract liabilities | (162) |
Accrued expenses | (255) |
Finance and operating lease liabilities | (148) |
Pension and post-retirement obligations | (56) |
Deferred tax liabilities | (383) |
Other noncurrent liabilities | (93) |
Net assets acquired | $ | 2,893 |
Finite-Lived Intangible Assets Acquired as Part of Business Combination | The following table summarizes the fair value of the identifiable intangible assets:
Customer relationships | $ | 695 |
Trade names and trademarks | 450 |
Contractual backlog | 55 |
Total intangibles | $ | 1,200 |

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- Definition Tabular disclosure of asset acquisition. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 50 -Name Accounting Standards Codification -Section 15 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480123/805-50-15-3 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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