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ACQUISITIONS (Tables) | 3 Months Ended
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Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary estimated fair values of the ESG assets acquired and liabilities assumed and related deferred income taxes as of the Closing Date (in millions).
| October 8, 2024 |  |  |
Cash acquired | $ | 11 |  |  |  |
Receivables, net | 131 |  |  |  |
Inventory, net | 106 |  |  |  |
Prepaid and other current assets | 2 |  |  |  |
Property, plant & equipment | 85 |  |  |  |
Goodwill | 792 |  |  |  |
Identified intangibles subject to amortization | 1,114 |  |  |  |
Other assets | 7 |  |  |  |
Total assets acquired | $ | 2,248 |  |  |  |
Trade accounts payable | 118 |  |  |  |
Other current liabilities | 82 |  |  |  |
Other non-current liabilities | 48 |  |  |  |
Total liabilities assumed | $ | 248 |  |  |  |
Net assets acquired | $ | 2,000 |  |  |  |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The following table summarizes the identifiable definite-lived intangible assets acquired (in millions):
| Weighted Average Life (in years) |  | Gross Carrying Amount
Definite-lived intangible assets: |  |  |
Trade names | 15 |  | $ | 141 |
Customer relationships | 14 |  | 824 |
Technology | 12 |  | 149 |
Total definite-lived intangible assets |  |  | $ | 1,114 |
Business Acquisition, Pro Forma Information | The following unaudited pro forma information has been presented as if the ESG Acquisition occurred on January 1, 2023. This information is based on historical results of operations, adjusted for acquisition accounting adjustments, and is not necessarily indicative of what the results would have been had the Company operated the business since January 1, 2023, nor does it intend to be a projection of future results.
(in millions, except per share data) | Three Months Ended
| March 31, 2024 |  |
Net sales | $ | 1,502 |  |  |
Net income | $ | 99 |  |  |
Basic earnings per share net income | $ | 1.47 |  |  |
Diluted earnings per share net income | $ | 1.45 |  |  |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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