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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Summary of Components of Income (Loss) Before Income Taxes | For the years ended December 31, 2024, 2023, and 2022, the components of income before income taxes are as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
U.S. earnings | $ | 177 |  |  | $ | 186 |  |  | $ | 40 |
Foreign earnings | 153 |  |  | 46 |  |  | 53 |
Total earnings | $ | 330 |  |  | $ | 232 |  |  | $ | 93 |
Summary of Income Tax Provision | The income tax provision for the years ended December 31, 2024, 2023, and 2022, consisted of the following:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
U.S. federal | $ | 47 |  |  | $ | 48 |  |  | $ | 32 |
State | 14 |  |  | 23 |  |  | 13 |
Foreign | 46 |  |  | 40 |  |  | 22 |
Total current tax provision | $ | 107 |  |  | $ | 111 |  |  | $ | 67 |
Deferred: |  |  |  |  |
U.S. federal | $ | (15) |  |  | $ | (10) |  |  | $ | (32) |
State | — |  |  | (1) |  |  | (3) |
Foreign | (12) |  |  | (21) |  |  | (12) |
Total deferred tax benefit | $ | (27) |  |  | $ | (32) |  |  | $ | (47) |
Total income tax provision | $ | 80 |  |  | $ | 79 |  |  | $ | 20 |
Summary of Reconciliation of Federal Statutory Income Tax Rate | The reconciliation of the federal statutory income tax rate to the Company’s provision for income taxes is as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Expected provision at statutory federal rate | $ | 70 |  |  | 21.0 | % |  | $ | 49 |  |  | 21.0 | % |  | $ | 19 |  |  | 21.0 | %
State tax provision, net of federal benefit | 11 |  |  | 3.3 | % |  | 17 |  |  | 7.3 | % |  | 7 |  |  | 7.5 | %
Foreign rate differential | (3) |  |  | (0.9 | %) |  | (1) |  |  | (0.4) | % |  | (4) |  |  | (4.3 | %)
Valuation allowance | (5) |  |  | (1.5 | %) |  | 8 |  |  | 3.4 | % |  | (1) |  |  | (1) | %
Permanent differences and other | 3 |  |  | 0.9 | % |  | 3 |  |  | 1.3 | % |  | 4 |  |  | 4 | %
Uncertain tax positions | — |  |  | — | % |  | — |  |  | — | % |  | (1) |  |  | (1) | %
Transaction costs | 1 |  |  | 0.3 | % |  | — |  |  | — | % |  | 3 |  |  | 3.2 | %
Withholding taxes on foreign entities | — |  |  | — | % |  | — |  |  | — | % |  | (9) |  |  | (10) | %
Section 162(m) limitation | 3 |  |  | 0.9 | % |  | 3 |  |  | 1.3 | % |  | 2 |  |  | 2.1 | %
Total provision for income taxes | $ | 80 |  |  | 24.0 | % |  | $ | 79 |  |  | 33.9 | % |  | $ | 20 |  |  | 22.0 | %
Summary of Components of Deferred Tax Assets And Liabilities | The components of deferred tax assets and liabilities consisted of the following:
| December 31,
| 2024 |  | 2023
Deferred tax assets: |  |  |
Operating and finance lease liabilities | $ | 68 |  |  | $ | 57 |
Accrued compensation | 42 |  |  | 60 |
Accrued expenses | 27 |  |  | 28 |
Net operating loss carryforwards | 22 |  |  | 28 |
Contingent consideration and compensation liabilities | 14 |  |  | 13 |
Capital loss carryforwards | 51 |  |  | 54 |
Credits | 37 |  |  | 38 |
Reserves and allowances | 6 |  |  | 6 |
Interest limitation | 36 |  |  | 2 |
Other | 7 |  |  | 12 |
Gross deferred tax assets | 310 |  |  | 298 |
Valuation allowances | (92) |  |  | (114) |
Net deferred tax assets | $ | 218 |  |  | $ | 184 |
Deferred tax liabilities: |  |  |
Depreciation on fixed assets | $ | 39 |  |  | $ | 42 |
Goodwill | 44 |  |  | 23 |
Amortization on identified intangible assets | 177 |  |  | 165 |
Operating lease right-of-use assets | 67 |  |  | 56 |
Derivatives | 7 |  |  | 1 |
Deferred payments | 3 |  |  | 4 |
Pension and post-retirement obligations | 16 |  |  | 11 |
Other | 6 |  |  | 2 |
Gross deferred tax liabilities | $ | 359 |  |  | $ | 304 |
Net deferred tax liabilities | $ | 141 |  |  | $ | 120 |
Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Gross unrecognized tax benefits at the beginning of the year | $ | 7 |  |  | $ | 8 |  |  | $ | 2 |
Additions for tax positions taken in a prior period (including acquired uncertain tax positions) | 3 |  |  | — |  |  | 7 |
Reductions for tax positions taken in a prior period (including acquired uncertain tax positions) | (1) |  |  | (1) |  |  | — |
Additions for tax positions taken in the current period | — |  |  | 1 |  |  | 1 |
Reductions for tax positions due to lapse in statute of limitations | — |  |  | (1) |  |  | — |
Foreign currency translation adjustments | — |  |  | — |  |  | (2) |
Gross unrecognized tax benefits as of the end of the year | $ | 9 |  |  | $ | 7 |  |  | $ | 8 |

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