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Tax Receivable Agreement (Tables)
9 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
Summary of Changes of Tax Receivable Liability

The following table summarizes the changes in the TRA liabilities (in millions):

 

 

Tax Receivable

 

 

 

Agreement Liability

 

Beginning balance as of December 31, 2021

 

$

 

581

 

Measurement period adjustment

 

 

 

(8

)

Fair value remeasurement

 

 

 

(63

)

Conversion of noncontrolling interest

 

 

 

7

 

Ending Balance as of September 30, 2022

 

 

 

517

 

Less: current portion included in other current liabilities

 

 

 

(6

)

Total long-term tax receivable agreement liability

 

$

 

511