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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
Domestic and Foreign Components of Income Before Income Taxes
Year Ended December 31,
202420232022
Domestic$203 $150 $138 
Foreign293 205 119 
Total$496 $355 $257 
Schedule of Components of Income Tax Expense (Benefit)
Provision (Benefit) for Income Taxes
Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022
CurrentDeferredTotalCurrentDeferredTotalCurrentDeferredTotal
U.S. federal$27 $7 $34 $33 $(9)$24 $21 $1 $22 
U.S. state and local8 (1)7 9 (2)7 7 — 7 
Foreign87 (23)64 52 3 55 40 (4)36 
Total$122 $(17)$105 $94 $(8)$86 $68 $(3)$65 
Schedule of Effective Income Tax Rate Reconciliation
Reconciliation to U.S. Statutory Rate
Year Ended December 31,
202420232022
Statutory U.S. federal income tax rate$104 21.0 %$75 21.0 %$54 21.0 %
Foreign income taxed at rates other than U.S. statutory rate
(25)(5.1)(29)(8.2)(22)(8.7)
Changes in valuation allowances
14 2.7 38 10.7 2 0.6 
Foreign exchange gains and losses(14)(2.7)1 0.2 (5)(2.1)
Unrecognized tax benefits 13 2.6 (6)(1.7)6 2.4 
Foreign taxes8 1.6 9 2.5 7 2.7 
Non-deductible expenses7 1.5 7 1.9 6 2.2 
Tax credits(7)(1.4)(9)(2.5)(9)(3.4)
U.S. state and local taxes, net6 1.2 5 1.5 5 1.9 
Bermuda CITA(27)(5.5)— — — — 
Other, net (1)
26 5.2 (5)(1.1)21 8.7 
Total income tax provision / effective tax rate
$105 21.1 %$86 24.3 %$65 25.3 %
(1)In 2024, the Company recorded a tax expense of $26 million in the Netherlands related to the write off of an expired net operating loss carryforward, which is fully offset by a tax benefit of $26 million for the decrease to the valuation allowance. In 2022, the Company recorded a tax expense of $23 million in the Netherlands related to a historical impairment charge, which is fully offset by a tax benefit of $23 million for the decrease to the valuation allowance.
Schedule of Deferred Tax Assets and Liabilities
Deferred Tax Balances
Year Ended December 31,
20242023
Deferred tax asset
Tax loss, credit and interest carryforwards
$361 $327 
Compensation and employee benefits
68 82 
Accruals and other reserves
34 29 
Research and development capitalization
53 50 
Leases38 41 
Other
1 2 
Total deferred tax assets555 531 
Less: valuation allowance(250)(234)
Total deferred tax assets, net of valuation allowance305 297 
Deferred tax liabilities
Goodwill and intangibles
(126)(107)
Property, plant and equipment
(143)(153)
Unremitted earnings
(14)(13)
Accounts receivable and other assets(7)(11)
Equity investment and other securities(2)(5)
Total deferred tax liabilities(292)(289)
Net deferred tax asset$13 $8 
Non-current assets$164 $170 
Non-current liability(151)(162)
Net deferred tax asset$13 $8 
Schedule of Tax Credit Carryforwards
Tax loss, tax credit and interest carryforwardsYear Ended December 31,
20242023
Tax loss carryforwards (tax effected) (1)
Expire within 10 years
$20 $22 
Expire after 10 years or indefinite carryforward
175 188 
Tax credit carryforwards
Expire within 10 years
1 1 
Expire after 10 years or indefinite carryforward
1 1 
Interest carryforwards
Expire within 10 years
1 2 
Expire after 10 years or indefinite carryforward
163 113 
Total tax loss, tax credit and interest carryforwards$361 $327 
(1)    Net of unrecognized tax benefits
Schedule of Valuation Allowance
Valuation allowance
Year Ended December 31,
20242023
Non-U.S. $246 $229 
U.S.
4 5 
Total valuation allowance$250 $234 
Schedule of Unrecognized Tax Benefits
Total Gross Unrecognized Tax Benefits
Year Ended December 31,
202420232022
Total gross unrecognized tax benefits at January 1$96 $98 $91 
Increases related to positions taken on items from prior years
5 2 3 
Decreases related to positions taken on items from prior years
(3)(5)(3)
Increases related to positions taken in the current year10 12 10 
Settlement of uncertain tax positions with tax authorities— (1)(1)
Decrease due to expiration of statues of limitations(1)(10)(2)
Total gross unrecognized tax benefits at December 31107 96 98 
Total accrual for interest and penalties associated with unrecognized tax benefits (1)
6 5 7 
Total gross unrecognized tax benefits at December 31, including interest and penalties$113 $101 $105 
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate$50 $42 $46 
Interest and penalties included as components of the Provision for income taxes$1 $(1)$(2)
(1)    Accrued interest and penalties are included within Other accrued liabilities and Other liabilities in the consolidated balance sheets.