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BUSINESS COMBINATIONS (Tables)

12 Months Ended

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

X

- 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

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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.

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