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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurement Assets And Liabilities Measured On Recurring Basis

The following tables summarize the fair values and levels within the fair value hierarchy in which the measurements fall for assets and liabilities measured on a recurring basis as of December 31, 2024 and 2023:

			Fair Value Measurements at December 31, 2024
			Level 1						Level 2						Level 3						Total
Financial assets
Derivatives designated as hedging instruments:
Cash flow hedges –
Interest rate swaps			$	—					$	25					$	—					$	25
Cross currency contracts			—						14						—						14
Foreign currency forward contracts			—						—						—						—
Fair value hedges – cross currency contracts			—						54						—						54
Net investment hedges – cross currency contracts			—						28						—						28
Derivatives not designated as hedging instruments:
Foreign currency forward contracts			—						—						—						—
Total			$	—					$	121					$	—					$	121
Financial liabilities
Derivatives not designated as hedging instruments:
Foreign currency forward contracts			—						—						—						—
Contingent consideration obligations			—						—						(13)						(13)
Total			$	—					$	—					$	(13)					$	(13)

			Fair Value Measurements at December 31, 2023
			Level 1						Level 2						Level 3						Total
Financial assets
Derivatives designated as hedging instruments:
Cash flow hedges –
Interest rate swaps			$	—					$	7					$	—					$	7
Cross currency contracts			—						10						—						10
Foreign currency forward contracts			—						—						—						—
Fair value hedges – cross currency contracts			—						17						—						17
Net investment hedges – cross currency contracts			—						20						—						20
Derivatives not designated as hedging instruments:
Foreign currency forward contracts			—						—						—						—
Total			$	—					$	54					$	—					$	54
Financial liabilities
Derivatives not designated as hedging instruments:
Foreign currency forward contracts			—						(1)						—						(1)
Contingent consideration obligations			—						—						(6)						(6)
Total			$	—					$	(1)					$	(6)					$	(7)

Summary of Reconciliation of Fair Value of Contingent Consideration Obligations

The table below presents a reconciliation of the fair value of the Company’s contingent consideration obligations that use unobservable inputs (Level 3), as well as other information about the contingent consideration obligations:

			Year Ended December 31,
			2024						2023						2022
Balance at the beginning of the year			$	6					$	4					$	4
Issuances			13						3						—
Settlements			(6)						(1)						—
Balance at the end of the year			$	13					$	6					$	4
Number of open contingent consideration arrangements at the end of the year			9						2						3
Maximum potential payout at the end of the year			$	13					$	6					$	4

Summary of Carrying and Fair Value of Non-Variable Interest Rate Debt

The following table presents the carrying amount and fair value of the Company’s variable and non-variable interest rate debt (instruments defined in Note 13 – “Debt”), including current portion and excluding unamortized debt issuance costs. Fair value is estimated by discounting future cash flows at currently available rates for borrowing arrangements with similar terms and conditions, which are considered to be Level 2 inputs under the fair value hierarchy. The interest rates of the variable interest rate long-term debt instruments are generally reset monthly.

During 2024, the Company repriced and upsized the 2021 Term Loan by an aggregate principal amount equal to $850. During 2024, the Company also repaid $100 to the 2021 Term Loan and the remaining $330 of the 2019 Term Loan. During 2023, the Company completed repricing of its 2019 Term Loan and 2021 Term Loan and $422 of the 2019 Term Loan was extended to the 2021 Term Loan. During 2023, the Company also repaid an aggregate amount of $375 and $100 to the 2019 Term Loan and 2021 Term Loan, respectively.

			December 31, 2024												December 31, 2023
			Carrying Value						Fair Value						Carrying Value						Fair Value
2019 Term Loan			$	—					$	—					$	330					$	331
2021 Term Loan			2,157						2,155						1,407						1,407
4.125% Senior Notes			337						305						337						305
4.750% Senior Notes			277						259						277						257

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Summary of Carrying And Fair Value Of Non-Variable Interest Rate Debt.

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Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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