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NET REVENUES
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2024, and 2023. Disaggregated net revenues information is as follows:
Three Months Ended June 30, 2024
Safety
Services		Specialty
Services		Consolidated
Life Safety$1,164 $— $1,164 
Heating, Ventilation, and Air Conditioning ("HVAC")115 — 115 
Infrastructure/Utility— 246 246 
Fabrication— 47 47 
Specialty Contracting— 160 160 
Corporate and Eliminations— — (2)
Net revenues$1,279 $453 $1,730 
Three Months Ended June 30, 2023
Safety
Services		Specialty
Services		Consolidated
Life Safety$1,098 $— $1,098 
HVAC127 — 127 
Infrastructure/Utility— 307 307 
Fabrication— 58 58 
Specialty Contracting— 190 190 
Corporate and Eliminations— — (9)
Net revenues$1,225 $555 $1,771 
Six Months Ended June 30, 2024
Safety
Services		Specialty
Services		Consolidated
Life Safety$2,267 $— $2,267 
HVAC226 — 226 
Infrastructure/Utility— 451 451 
Fabrication— 97 97 
Specialty Contracting— 294 294 
Corporate and Eliminations— — (4)
Net revenues$2,493 $842 $3,331 
Six Months Ended June 30, 2023
Safety
Services		Specialty
Services		Consolidated
Life Safety$2,166 $— $2,166 
HVAC250 — 250 
Infrastructure/Utility— 547 547 
Fabrication— 113 113 
Specialty Contracting— 325 325 
Corporate and Eliminations— — (16)
Net revenues$2,416 $985 $3,385 
Three Months Ended June 30, 2024
Safety
Services		Specialty
Services		Corporate and
Eliminations 		Consolidated
United States$623 $453 $(2)$1,074 
France157 — — 157 
Other499 — — 499 
Net revenues$1,279 $453 $(2)$1,730 
Three Months Ended June 30, 2023
Safety
Services		Specialty
Services		Corporate and
Eliminations 		Consolidated
United States$583 $549 $(9)$1,123 
France150 — — 150 
Other492 6 — 498 
Net revenues$1,225 $555 $(9)$1,771 
Six Months Ended June 30, 2024
Safety
Services		Specialty
Services		Corporate and
Eliminations 		Consolidated
United States$1,204 $837 $(4)$2,037 
France319 — — 319 
Other970 5 — 975 
Net revenues$2,493 $842 $(4)$3,331 
Six Months Ended June 30, 2023
Safety
Services		Specialty
Services		Corporate and
Eliminations 		Consolidated
United States$1,143 $966 $(16)$2,093 
France306 — — 306 
Other967 19 — 986 
Net revenues$2,416 $985 $(16)$3,385 
For in-process contracts, the aggregate amount of transaction price allocated to the unsatisfied performance obligations at June 30, 2024 was $3,019. The Company expects to recognize revenue on approximately 87% 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 June 30, 2024 and December 31, 2023 are as follows:
Accounts
receivable,
net of
allowances		Contract
assets		Contract
liabilities
Balance at June 30, 2024$1,314 $509 $547 
Balance at December 31, 20231,395 436 526 
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 June 30, 2024 and December 31, 2023, retentions receivable were $145 and $156, respectively, while the portions that may not be received within one year were $33 and $25, respectively.