NET REVENUES

3 Months Ended

Mar. 31, 2024

Revenues [Abstract]

Net Revenues

NET REVENUES

Contracts with customers

The Company derives net revenues primarily from contracts with a duration of less than one week to three years (with the majority of contracts with durations of less than six months), which are subject to multiple pricing options, including fixed price, unit price, time and material, or cost plus a markup. Net revenues are primarily recognized by the Company over time utilizing the cost-to-cost measure of progress. Net revenues recognized at a point in time primarily relate to distribution contracts and short-term time and material contracts. The Company also enters into fixed-price service contracts related to monitoring, maintenance, and inspection of safety systems.

The Company disaggregates its net revenues primarily by segment, service type, and country from which revenues are invoiced, as the nature, timing, and uncertainty of cash flows are relatively consistent within each of these categories. The following tables provide disclosure of disaggregated net revenues by segment for the three months ended March 31, 2024 and 2023. Disaggregated net revenues information is as follows:

	Three Months Ended March 31, 2024
	Safety Services		Specialty Services		Consolidated
Life Safety	$	1,103	$	—	$	1,103
Heating, Ventilation, and Air Conditioning ("HVAC")	111		—		111
Infrastructure/Utility	—		205		205
Fabrication	—		50		50
Specialty Contracting	—		134		134
Corporate and Eliminations	—		—		(2)
Net revenues	$	1,214	$	389	$	1,601

	Three Months Ended March 31, 2023
	Safety Services		Specialty Services		Consolidated
Life Safety	$	1,068	$	—	$	1,068
HVAC	123		—		123
Infrastructure/Utility	—		240		240
Fabrication	—		55		55
Specialty Contracting	—		135		135
Corporate and Eliminations	—		—		(7)
Net revenues	$	1,191	$	430	$	1,614

	Three Months Ended March 31, 2024
	Safety Services		Specialty Services		Corporate and Eliminations		Consolidated
United States	$	581	$	384	$	(2)	$	963
France	162		—		—		162
Other	471		5		—		476
Net revenues	$	1,214	$	389	$	(2)	$	1,601

	Three Months Ended March 31, 2023
	Safety Services		Specialty Services		Corporate and Eliminations		Consolidated
United States	$	560	$	417	$	(7)	$	970
France	156		—		—		156
Other	475		13		—		488
Net revenues	$	1,191	$	430	$	(7)	$	1,614

For in-process contracts, the aggregate amount of transaction price allocated to the unsatisfied performance obligations at March 31, 2024 was $2,894. The Company expects to recognize revenue on approximately 86% of the remaining performance obligations over the next twelve months.

Contract assets and liabilities

Contract assets and contract liabilities are classified as current in the condensed consolidated balance sheets as all amounts are expected to be relieved within one year. The balances of accounts receivable, net of allowances, contract assets, and contract liabilities from contracts with customers as of March 31, 2024 and December 31, 2023 are as follows:

	Accounts receivable, net of allowances		Contract assets		Contract liabilities
Balance at March 31, 2024	$	1,256	$	458	$	542
Balance at December 31, 2023	1,395		436		526

The Company did not recognize significant revenues associated with the final settlement of contract value for any projects completed in prior periods. In accordance with industry practice, accounts receivable includes retentions receivable, a portion of which may not be received within one year. At March 31, 2024 and December 31, 2023, retentions receivable were $146 and $156, respectively, while the portions that may not be received within one year were $30 and $25, respectively.