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NET REVENUES | 3 Months Ended
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Mar. 31, 2024
Revenues [Abstract] |
Net Revenues | NET REVENUES Contracts with customers The Company derives net revenues primarily from contracts with a duration of less than one week to three years (with the majority of contracts with durations of less than six months), which are subject to multiple pricing options, including fixed price, unit price, time and material, or cost plus a markup. Net revenues are primarily recognized by the Company over time utilizing the cost-to-cost measure of progress. Net revenues recognized at a point in time primarily relate to distribution contracts and short-term time and material contracts. The Company also enters into fixed-price service contracts related to monitoring, maintenance, and inspection of safety systems. The Company disaggregates its net revenues primarily by segment, service type, and country from which revenues are invoiced, as the nature, timing, and uncertainty of cash flows are relatively consistent within each of these categories. The following tables provide disclosure of disaggregated net revenues by segment for the three months ended March 31, 2024 and 2023. Disaggregated net revenues information is as follows:
| Three Months Ended March 31, 2024
| Safety Services |  | Specialty Services |  | Consolidated
Life Safety | $ | 1,103 |  |  | $ | — |  |  | $ | 1,103 |
Heating, Ventilation, and Air Conditioning ("HVAC") | 111 |  |  | — |  |  | 111 |
Infrastructure/Utility | — |  |  | 205 |  |  | 205 |
Fabrication | — |  |  | 50 |  |  | 50 |
Specialty Contracting | — |  |  | 134 |  |  | 134 |
Corporate and Eliminations | — |  |  | — |  |  | (2) |
Net revenues | $ | 1,214 |  |  | $ | 389 |  |  | $ | 1,601 |
| Three Months Ended March 31, 2023
| Safety Services |  | Specialty Services |  | Consolidated
Life Safety | $ | 1,068 |  |  | $ | — |  |  | $ | 1,068 |
HVAC | 123 |  |  | — |  |  | 123 |
Infrastructure/Utility | — |  |  | 240 |  |  | 240 |
Fabrication | — |  |  | 55 |  |  | 55 |
Specialty Contracting | — |  |  | 135 |  |  | 135 |
Corporate and Eliminations | — |  |  | — |  |  | (7) |
Net revenues | $ | 1,191 |  |  | $ | 430 |  |  | $ | 1,614 |
| Three Months Ended March 31, 2024
| Safety Services |  | Specialty Services |  | Corporate and Eliminations |  | Consolidated
United States | $ | 581 |  |  | $ | 384 |  |  | $ | (2) |  |  | $ | 963 |
France | 162 |  |  | — |  |  | — |  |  | 162 |
Other | 471 |  |  | 5 |  |  | — |  |  | 476 |
Net revenues | $ | 1,214 |  |  | $ | 389 |  |  | $ | (2) |  |  | $ | 1,601 |
| Three Months Ended March 31, 2023
| Safety Services |  | Specialty Services |  | Corporate and Eliminations |  | Consolidated
United States | $ | 560 |  |  | $ | 417 |  |  | $ | (7) |  |  | $ | 970 |
France | 156 |  |  | — |  |  | — |  |  | 156 |
Other | 475 |  |  | 13 |  |  | — |  |  | 488 |
Net revenues | $ | 1,191 |  |  | $ | 430 |  |  | $ | (7) |  |  | $ | 1,614 |
For in-process contracts, the aggregate amount of transaction price allocated to the unsatisfied performance obligations at March 31, 2024 was $2,894. The Company expects to recognize revenue on approximately 86% of the remaining performance obligations over the next twelve months. Contract assets and liabilities Contract assets and contract liabilities are classified as current in the condensed consolidated balance sheets as all amounts are expected to be relieved within one year. The balances of accounts receivable, net of allowances, contract assets, and contract liabilities from contracts with customers as of March 31, 2024 and December 31, 2023 are as follows:
| Accounts receivable, net of allowances |  | Contract assets |  | Contract liabilities
Balance at March 31, 2024 | $ | 1,256 |  |  | $ | 458 |  |  | $ | 542 |
Balance at December 31, 2023 | 1,395 |  |  | 436 |  |  | 526 |
The Company did not recognize significant revenues associated with the final settlement of contract value for any projects completed in prior periods. In accordance with industry practice, accounts receivable includes retentions receivable, a portion of which may not be received within one year. At March 31, 2024 and December 31, 2023, retentions receivable were $146 and $156, respectively, while the portions that may not be received within one year were $30 and $25, respectively.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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