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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consists of the following components (in millions):

			Year Ended December 31,
			2024						2023						2022
Current:
Federal			$	128					$	137					$	212
State			39						39						60
Foreign			140						117						107
Total current provision for income taxes			$	307					$	293					$	379
Deferred:
Federal			$	(22)					$	10					$	—
State			(3)						3						(2)
Foreign			(9)						—						8
Total deferred (benefit) provision for income taxes			$	(34)					$	13					$	6
Provision for income taxes			$	273					$	306					$	385

Schedule of Income before Income Tax, Domestic and Foreign

Income taxes have been based on the following components of income from continuing operations before provision for income taxes (in millions):

			Year Ended December 31,
			2024						2023						2022
Domestic			$	577					$	795					$	1,078
Foreign			381						440						440
Income from continuing operations before provision for income taxes			$	958					$	1,235					$	1,518

Schedule of Effective Income Tax Rate Reconciliation

The U.S. federal statutory rate is reconciled to the effective tax rate as follows:

			Year Ended December 31,
			2024						2023						2022
U.S. federal statutory rate			21.0		%				21.0		%				21.0		%
State income taxes, net of state credits and federal tax impact			2.7		%				2.8		%				3.0		%
Impact of rates on international operations			2.2		%				1.2		%				1.1		%
Change in valuation allowances			1.1		%				0.9		%				0.4		%
Non-deductible expenses			0.6		%				1.2		%				1.0		%
Gains on foreign exchange contracts - acquisition related			—		%				(0.8)		%				—		%
Other, net			0.9		%				(1.5)		%				(1.2)		%
Effective tax rate			28.5		%				24.8		%				25.3		%

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred tax assets and liabilities are as follows (in millions):

			December 31,
			2024						2023
Deferred Tax Assets:
Accrued expenses and reserves			$	57					$	58
Qualified and nonqualified retirement plans			20						17
Inventory			10						21
Accounts receivable			22						22
Interest deduction carryforwards			30						32
Stock-based compensation			9						8
Operating lease liabilities			346						334
Net operating loss carryforwards			38						53
Other			44						26
Total deferred tax assets, gross			576						571
Less: valuation allowance			(51)						(64)
Total deferred tax assets			$	525					$	507
Deferred Tax Liabilities:
Goodwill and other intangible assets			$	373					$	414
Property, plant and equipment			96						102
Trade names			79						88
Operating lease assets, net			336						319
Other			10						9
Total deferred tax liabilities			$	894					$	932
Net deferred tax liability			$	(369)					$	(425)

Schedule of Deferred Tax Assets and Liabilities Classification

Deferred tax assets and liabilities are reflected on the Consolidated Balance Sheets as follows (in millions):

			December 31,
			2024						2023
Noncurrent deferred tax assets			$	17					$	23
Noncurrent deferred tax liabilities			386						448

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in millions):

			2024						2023						2022
Balance at January 1,			$	8					$	5					$	5
Additions for acquired tax positions			—						6						—
Additions based on tax positions related to the current year			10						—						—
Additions based on tax positions related to prior years			15						3						2
Reductions for tax positions of prior year			—						(1)						—
Lapse of statutes of limitations			(3)						(5)						—
Settlements with taxing authorities			(2)						—						(2)
Balance at December 31,			$	28					$	8					$	5

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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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