INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Summary of Components of Income (Loss) Before Income Taxes

For the years ended December 31, 2023, 2022, and 2021, the components of income before income taxes are as follows:

	Years Ended December 31,
	2023		2022		2021
U.S. earnings	$	186	$	40	$	54
Foreign earnings	46		53		25
Total earnings	$	232	$	93	$	79

Summary of Income Tax Provision (Benefit)

The income tax provision (benefit) for the years ended December 31, 2023, 2022, and 2021, consisted of the following:

	Years Ended December 31,
	2023		2022		2021
Current:
U.S. federal	$	48	$	32	$	9
State	23		13		8
Foreign	40		22		9
Total current tax provision	$	111	$	67	$	26
Deferred:
U.S. federal	$	(10)	$	(32)	$	6
State	(1)		(3)		2
Foreign	(21)		(12)		(2)
Total deferred tax (benefit) provision	$	(32)	$	(47)	$	6
Total income tax provision	$	79	$	20	$	32

Summary of Reconciliation of Federal Statutory Income Tax Rate

The reconciliation of the federal statutory income tax rate to the Company’s provision for income taxes is as follows:

	Years Ended December 31,
	2023				2022				2021
Expected provision at statutory federal rate	$	49	21.0	%	$	19	21.0	%	$	17	21.0	%
State tax provision, net of federal benefit	17		7.3	%	7		7.5	%	8		10.1	%
Foreign rate differential	(1)		(0.4	%)	(4)		(4.3)	%	1		1.3	%
Valuation allowance	8		3.4	%	(1)		(1.1)	%	—		—	%
Permanent differences and other	3		1.3	%	4		4.4	%	—		—	%
Uncertain tax positions	—		—	%	(1)		(1.1)	%	—		—	%
Transaction costs	—		—	%	3		3.2	%	4		5.1	%
Withholding taxes on foreign entities	—		—	%	(9)		(9.7)	%	—		—	%
Section 162(m) limitation	3		1.3	%	2		2.1	%	2		2.5	%
Total provision for income taxes	$	79	33.9	%	$	20	22.0	%	$	32	40.0	%

Summary of Components of Deferred Tax Assets And Liabilities

The components of deferred tax assets and liabilities consisted of the following:

	December 31,
	2023		2022
Deferred tax assets:
Operating and finance lease liabilities	$	57	$	59
Accrued compensation	60		48
Accrued expenses	28		31
Net operating loss carryforwards	28		26
Contingent consideration and compensation liabilities	13		10
Capital loss carryforwards	54		47
Credits	38		36
Reserves and allowances	6		10
Other	14		16
Gross deferred tax assets	298		283
Valuation allowance	(114)		(100)
Net deferred tax assets	$	184	$	183
Deferred tax liabilities:
Depreciation on fixed assets	$	42	$	51
Goodwill	23		3
Amortization on identified intangible assets	165		203
Operating lease right of use assets	56		59
Derivatives	1		9
Deferred payments	4		4
Pension and post-retirement obligations	11		82
Other	2		4
Gross deferred tax liabilities	$	304	$	415
Net deferred tax liabilities	$	(120)	$	(232)

Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	Years Ended December 31,
	2023		2022		2021
Gross unrecognized tax benefits at the beginning of the year	$	8	$	2	$	3
Additions for tax positions taken in a prior period (including acquired uncertain tax positions)	—		7		—
Reductions for tax positions taken in a prior period (including acquired uncertain tax positions)	(1)		—		(1)
Additions for tax positions taken in the current period	1		1		—
Reductions for tax positions taken in current period	—		—		—
Reductions for tax positions due to lapse in statue of limitations	(1)		—		—
Foreign currency translation adjustments	—		(2)		—
Gross unrecognized tax benefits as of the end of the year	$	7	$	8	$	2