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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Before Income Taxes | The domestic and foreign components of our income before taxes and noncontrolling interests were as follows:
| Year Ended December 31,
($ in millions) | 2024 |  | 2023 |  | 2022
U.S. (loss) income before tax | $ | (61) |  |  | $ | 335 |  |  | $ | 384 |
Foreign income before tax | 197 |  |  | 114 |  |  | 97 |
Total income before taxes | $ | 136 |  |  | $ | 449 |  |  | $ | 481 |
Schedule of Components of Provision for Income Taxes | The components of our provision for income taxes were as follows:
| Year Ended December 31,
($ in millions) | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | 23 |  |  | $ | 105 |  |  | $ | 102 |
State | 4 |  |  | 18 |  |  | 19 |
Foreign | 78 |  |  | 36 |  |  | 46 |
Total current | 105 |  |  | 159 |  |  | 167 |
Deferred: |  |  |  |  |
Federal | (18) |  |  | (22) |  |  | (21) |
State | (3) |  |  | (1) |  |  | (16) |
Foreign | (8) |  |  | — |  |  | (1) |
Total deferred | (29) |  |  | (23) |  |  | (38) |
Total provision for income taxes | $ | 76 |  |  | $ | 136 |  |  | $ | 129 |
Schedule of Effective Income Tax Rate Reconciliation | Reconciliations of our tax provision at the U.S. statutory rate to the provision for income taxes were as follows:
| Year Ended December 31,
($ in millions) | 2024 |  | 2023 |  | 2022
Statutory U.S. federal income tax provision | $ | 29 |  |  | $ | 94 |  |  | $ | 101 |
State and local income taxes, net of U.S. federal tax benefit | 1 |  |  | 17 |  |  | 4 |
Taxes attributable to noncontrolling interest | (3) |  |  | — |  |  | — |
Impact of foreign operations | 27 |  |  | 10 |  |  | 17 |
Interest on installment sales, net of U.S. federal tax benefit | 4 |  |  | 3 |  |  | 1 |
Uncertain tax positions | 1 |  |  | 5 |  |  | 4 |
US permanent differences | 12 |  |  | 2 |  |  | — |
Share-based compensation, net of IRC §162(m) limitation | 3 |  |  | 2 |  |  | 3 |
Other | 2 |  |  | 3 |  |  | (1) |
Provision for income taxes | $ | 76 |  |  | $ | 136 |  |  | $ | 129 |
Schedule of Compositions of Net Deferred Tax Balances | The compositions of net deferred tax balances were as follows:
| December 31,
($ in millions) | 2024 |  | 2023
Deferred tax assets | $ | 12 |  |  | $ | 9 |
Deferred tax liabilities | (925) |  |  | (631) |
Net deferred tax liability | $ | (913) |  |  | $ | (622) |
Schedule of Tax Effects of Temporary Differences and Carryforwards of Our Net Deferred Tax Liability | The tax effects of the temporary differences and carryforwards that give rise to our net deferred tax liability were as follows:
| December 31,
($ in millions) | 2024 |  | 2023
Deferred tax assets: |  |  |
Compensation | $ | 30 |  |  | $ | 20 |
Domestic tax loss and credit carryforwards | 130 |  |  | 35 |
Foreign tax loss carryforwards | 44 |  |  | 41 |
Other reserves | 261 |  |  | 177 |
| 465 |  |  | 273 |
Valuation allowance | (174) |  |  | (81) |
Deferred tax assets | 291 |  |  | 192 |
Deferred tax liabilities: |  |  |
Property and equipment | (144) |  |  | (128) |
Amortizable intangible assets | (419) |  |  | (251) |
Deferred income | (641) |  |  | (435) |
Deferred tax liabilities | (1,204) |  |  | (814) |
Net deferred tax liability | $ | (913) |  |  | $ | (622) |
Schedule of Unrecognized Tax Benefits Roll Forward | Reconciliations of the amounts of unrecognized tax benefits were as follows:
| December 31,
($ in millions) | 2024 |  | 2023 |  | 2022
Unrecognized tax benefits at beginning of year | $ | 25 |  |  | $ | 23 |  |  | $ | 12 |
Current period tax position increases | 3 |  |  | 2 |  |  | 2 |
Prior period tax position increases | — |  |  | 3 |  |  | 11 |
Decreases due to lapse in applicable statute of limitations | (4) |  |  | (3) |  |  | (2) |
Unrecognized tax benefits at end of year | $ | 24 |  |  | $ | 25 |  |  | $ | 23 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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