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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income (Losses) Before Income Taxes

Components of income (loss) before income taxes:

(in millions)			2024						2023						2022
Domestic			$	(20)					$	(1)					$	24
Foreign			435						347						359
Total income before income taxes			$	415					$	346					$	383

Schedule of Components of Provision (Benefit) For Income Taxes

Components of the provision (benefit) for income taxes:

(in millions)			2024						2023						2022
Current tax provision
U.S. Federal			$	(3)					$	1					$	10
U.S. State			5						1						(1)
Foreign			73						54						55
Deferred tax provision
U.S. Federal			(6)						9						7
U.S. State			6						3						(4)
Foreign			(5)						2						7
Total income tax provision			$	70					$	70					$	74

Schedule of Reconciliation of U.S. Federal Statutory Rate

Reconciliation of the U.S. federal statutory rate to UL Solutions effective tax rate:

			2024						2023						2022
U.S. Federal Statutory Rate			21.0		%				21.0		%				21.0		%
Effect of:
Foreign income taxed at different rates(a)			(4.2		%)				(5.0		%)				(2.3		%)
U.S. tax on foreign activities			0.6		%				2.0		%				1.3		%
State and local income taxes, net of federal benefit			2.0		%				0.9		%				(1.3		%)
Goodwill impairment			—		%				1.8		%				—		%
U.S. nondeductible compensation			1.9		%				—		%				—		%
Release of uncertain tax positions for lapse of statutes(a)			(4.7		%)				(0.1		%)				—		%
Other reconciling items, net			0.3		%				(0.4		%)				0.6		%
Effective tax rate			16.9		%				20.2		%				19.3		%

__________

(a)The Company has reclassified the amounts presented for the year ended December 31, 2023 to conform to the current period’s presentation.

Schedule of Components of Deferred Tax Assets and Liabilities

Components of the deferred income tax assets and liabilities:

(in millions)			2024						2023
Deferred tax assets
Accrued pension and postretirement liabilities			$	38					$	47
Accrued employee benefits			41						42
Other accrued expenses			7						9
Net operating loss carryforward			44						46
Advance payments			39						25
Operating lease liabilities			46						38
Capitalized research and development			18						10
Foreign tax credit			12						8
Other			12						5
Subtotal (before valuation allowances)			257						230
Valuation allowances			(53)						(56)
Total deferred tax assets			204						174
Deferred tax liabilities
Basis difference for intangible assets			(38)						(32)
Basis difference for fixed assets			(20)						(6)
Operating lease right-of-use assets			(45)						(36)
Tax on unrepatriated earnings			(6)						(5)
Other			(10)						(9)
Total deferred tax liabilities			(119)						(88)
Net deferred income tax assets			$	85					$	86

Schedule of Movements in Valuation Allowance

Movements in valuation allowance:

Deferred Tax Valuation Allowance						Balance at Beginning of Year						Charged to Costs and Expenses						Deductions												Balance at End of Year
(in millions)
Year Ended December 31, 2024						$	56					$	7					$	(10)											$	53
Year Ended December 31, 2023						$	47					$	14					$	(5)											$	56
Year Ended December 31, 2022						$	42					$	10					$	(5)											$	47

Schedule of Movements in Reserve For Uncertain Tax Positions

Movements in reserve for uncertain tax positions:

(in millions)			2024						2023						2022
Balance at January 1,			$	30					$	26					$	25
Increases related to prior period tax positions			2						3						5
Decreases related to prior period tax positions			(5)						—						(3)
Increases related to current period tax positions			—						2						1
Lapse of statute of limitation			(19)						(1)						—
Settlement with taxing authorities			(1)						—						(2)
Balance at December 31,			$	7					$	30					$	26

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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