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NET REVENUES
6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [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 five years (with the majority of contracts having short durations), 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 and six months ended June 30, 2026 and 2025. Disaggregated net revenues information is as follows:
Three Months Ended June 30, 2026
Safety
Services
Specialty
Services
Consolidated
Life Safety$1,482 $— $1,482 
Infrastructure and Utility— 299 299 
Fabrication and Distribution— 101 101 
Specialty Contracting— 373 373 
Corporate and Eliminations— — (1)
Net revenues$1,482 $773 $2,254 
Three Months Ended June 30, 2025
Safety
Services
Specialty
Services
Consolidated
Life Safety$1,362 $— $1,362 
Infrastructure and Utility— 256 256 
Fabrication and Distribution— 99 99 
Specialty Contracting— 274 274 
Corporate and Eliminations— — (1)
Net revenues$1,362 $629 $1,990 
    
Six Months Ended June 30, 2026
Safety
Services
Specialty
Services
Consolidated
Life Safety$2,897 $— $2,897 
Infrastructure and Utility— 517 517 
Fabrication and Distribution— 183 183 
Specialty Contracting— 642 642 
Corporate and Eliminations— — (3)
Net revenues$2,897 $1,342 $4,236 
Six Months Ended June 30, 2025
Safety
Services
Specialty
Services
Consolidated
Life Safety$2,629 $— $2,629 
Infrastructure and Utility— 441 441 
Fabrication and Distribution— 169 169 
Specialty Contracting— 472 472 
Corporate and Eliminations— — (2)
Net revenues$2,629 $1,082 $3,709 
Three Months Ended June 30, 2026
Safety
Services
Specialty
Services
Corporate and
Eliminations
Consolidated
United States$773 $773 $(1)$1,545 
France177 — — 177 
Other532 — — 532 
Net revenues$1,482 $773 $(1)$2,254 
Three Months Ended June 30, 2025
Safety
Services
Specialty
Services
Corporate and
Eliminations
Consolidated
United States$674 $629 $(1)$1,302 
France172 — — 172 
Other516 — — 516 
Net revenues$1,362 $629 $(1)$1,990 
Six Months Ended June 30, 2026
Safety
Services
Specialty
Services
Corporate and
Eliminations
Consolidated
United States$1,497 $1,342 $(3)$2,836 
France357 — — 357 
Other1,043 — — 1,043 
Net revenues$2,897 $1,342 $(3)$4,236 
Six Months Ended June 30, 2025
Safety
Services
Specialty
Services
Corporate and
Eliminations
Consolidated
United States$1,301 $1,082 $(2)$2,381 
France333 — — 333 
Other995 — — 995 
Net revenues$2,629 $1,082 $(2)$3,709 
For in-process contracts, the aggregate amount of transaction price allocated to the unsatisfied performance obligations at June 30, 2026 was $4,066. The Company expects to recognize revenue on approximately 81% 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 June 30, 2026 and December 31, 2025 are as follows:
Accounts
receivable,
net of
allowances
Contract
assets
Contract
liabilities
Balance at June 30, 2026$1,706 $630 $815 
Balance at December 31, 20251,563 484 694 
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 June 30, 2026 and December 31, 2025, retentions receivable were $190 and $187, respectively, while the portions that may not be received within one year were $45 and $48, respectively.