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Stock options are also awarded through the Key Employee Stock Investment Plan (KESIP) which allows certain employees, other than officers, to purchase shares of common stock on an installment basis up to an established credit limit. For every block of 100 KESIP shares purchased by the employee 50 stock options are granted. The options granted through the KESIP program are considered awards under the Plan and are vested immediately. Compensation expense for stock options granted through the KESIP program is recorded based on the fair value of each option grant using the Black-Scholes option pricing model. | text | 100 | sharesItemType | text: <entity> 100 </entity> <entity type> sharesItemType </entity type> <context> Stock options are also awarded through the Key Employee Stock Investment Plan (KESIP) which allows certain employees, other than officers, to purchase shares of common stock on an installment basis up to an established credit limit. For every block of 100 KESIP shares purchased by the employee 50 stock options are granted. The options granted through the KESIP program are considered awards under the Plan and are vested immediately. Compensation expense for stock options granted through the KESIP program is recorded based on the fair value of each option grant using the Black-Scholes option pricing model. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
Stock options are also awarded through the Key Employee Stock Investment Plan (KESIP) which allows certain employees, other than officers, to purchase shares of common stock on an installment basis up to an established credit limit. For every block of 100 KESIP shares purchased by the employee 50 stock options are granted. The options granted through the KESIP program are considered awards under the Plan and are vested immediately. Compensation expense for stock options granted through the KESIP program is recorded based on the fair value of each option grant using the Black-Scholes option pricing model. | text | 50 | sharesItemType | text: <entity> 50 </entity> <entity type> sharesItemType </entity type> <context> Stock options are also awarded through the Key Employee Stock Investment Plan (KESIP) which allows certain employees, other than officers, to purchase shares of common stock on an installment basis up to an established credit limit. For every block of 100 KESIP shares purchased by the employee 50 stock options are granted. The options granted through the KESIP program are considered awards under the Plan and are vested immediately. Compensation expense for stock options granted through the KESIP program is recorded based on the fair value of each option grant using the Black-Scholes option pricing model. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . | text | 100 | monetaryItemType | text: <entity> 100 </entity> <entity type> monetaryItemType </entity type> <context> Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . </context> | us-gaap:AllocatedShareBasedCompensationExpense |
Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . | text | 79 | monetaryItemType | text: <entity> 79 </entity> <entity type> monetaryItemType </entity type> <context> Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . </context> | us-gaap:AllocatedShareBasedCompensationExpense |
Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . </context> | us-gaap:AllocatedShareBasedCompensationExpense |
Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . | text | 23 | monetaryItemType | text: <entity> 23 </entity> <entity type> monetaryItemType </entity type> <context> Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . </context> | us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense |
Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . </context> | us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense |
Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . </context> | us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense |
Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . | text | 120 | monetaryItemType | text: <entity> 120 </entity> <entity type> monetaryItemType </entity type> <context> Employee compensation expense (net of estimated forfeitures) related to our share-based plans for the years ended December 31, 2024, 2023 and 2022, was approximately $ 100 million, $ 79 million and $ 33 million, respectively. The excess tax benefit associated with our employee share-based plans for the years ended December 31, 2024, 2023 and 2022, was $ 23 million, $ 7 million and $ 8 million, respectively. The total unrecognized compensation expense (net of estimated forfeitures) related to nonvested awards for our employee share-based plans was approximately $ 120 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately two years . </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. | text | 77.19 | perShareItemType | text: <entity> 77.19 </entity> <entity type> perShareItemType </entity type> <context> The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. | text | 57.01 | perShareItemType | text: <entity> 57.01 </entity> <entity type> perShareItemType </entity type> <context> The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. | text | 45.74 | perShareItemType | text: <entity> 45.74 </entity> <entity type> perShareItemType </entity type> <context> The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. | text | 160 | monetaryItemType | text: <entity> 160 </entity> <entity type> monetaryItemType </entity type> <context> The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. | text | 35 | monetaryItemType | text: <entity> 35 </entity> <entity type> monetaryItemType </entity type> <context> The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. | text | 53 | monetaryItemType | text: <entity> 53 </entity> <entity type> monetaryItemType </entity type> <context> The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. | text | 133 | monetaryItemType | text: <entity> 133 </entity> <entity type> monetaryItemType </entity type> <context> The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. </context> | us-gaap:ProceedsFromStockOptionsExercised |
The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. | text | 48 | monetaryItemType | text: <entity> 48 </entity> <entity type> monetaryItemType </entity type> <context> The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. </context> | us-gaap:ProceedsFromStockOptionsExercised |
The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. | text | 80 | monetaryItemType | text: <entity> 80 </entity> <entity type> monetaryItemType </entity type> <context> The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022, was $ 77.19 , $ 57.01 and $ 45.74 , respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022, was approximately $ 160 million, $ 35 million and $ 53 million, respectively. Cash received from option exercises under share-based payment arrangements for the years ended December 31, 2024, 2023 and 2022, was $ 133 million, $ 48 million and $ 80 million, respectively. </context> | us-gaap:ProceedsFromStockOptionsExercised |
The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 63 | monetaryItemType | text: <entity> 63 </entity> <entity type> monetaryItemType </entity type> <context> The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 25 | monetaryItemType | text: <entity> 25 </entity> <entity type> monetaryItemType </entity type> <context> The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 24 | monetaryItemType | text: <entity> 24 </entity> <entity type> monetaryItemType </entity type> <context> The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> The total vesting date fair value of performance shares vested during the years ended December 31, 2024, 2023 and 2022, was $ 63 million, $ 25 million and $ 24 million, respectively. The total fair value of restricted shares vested was $ 24 million, $ 17 million and $ 1 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
We had foreign currency forward contracts with notional amounts of $ 3.6 billion at December 31, 2024, with the following currencies comprising 86 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Australian dollar, Canadian dollar and Euro. We had foreign currency forward contracts with notional amounts of $ 4.5 billion at December 31, 2023, with the following currencies comprising 85 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Canadian dollar, Australian dollar and Swedish krona. | text | 3.6 | monetaryItemType | text: <entity> 3.6 </entity> <entity type> monetaryItemType </entity type> <context> We had foreign currency forward contracts with notional amounts of $ 3.6 billion at December 31, 2024, with the following currencies comprising 86 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Australian dollar, Canadian dollar and Euro. We had foreign currency forward contracts with notional amounts of $ 4.5 billion at December 31, 2023, with the following currencies comprising 85 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Canadian dollar, Australian dollar and Swedish krona. </context> | us-gaap:DerivativeNotionalAmount |
We had foreign currency forward contracts with notional amounts of $ 3.6 billion at December 31, 2024, with the following currencies comprising 86 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Australian dollar, Canadian dollar and Euro. We had foreign currency forward contracts with notional amounts of $ 4.5 billion at December 31, 2023, with the following currencies comprising 85 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Canadian dollar, Australian dollar and Swedish krona. | text | 86 | percentItemType | text: <entity> 86 </entity> <entity type> percentItemType </entity type> <context> We had foreign currency forward contracts with notional amounts of $ 3.6 billion at December 31, 2024, with the following currencies comprising 86 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Australian dollar, Canadian dollar and Euro. We had foreign currency forward contracts with notional amounts of $ 4.5 billion at December 31, 2023, with the following currencies comprising 85 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Canadian dollar, Australian dollar and Swedish krona. </context> | us-gaap:ConcentrationRiskPercentage1 |
We had foreign currency forward contracts with notional amounts of $ 3.6 billion at December 31, 2024, with the following currencies comprising 86 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Australian dollar, Canadian dollar and Euro. We had foreign currency forward contracts with notional amounts of $ 4.5 billion at December 31, 2023, with the following currencies comprising 85 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Canadian dollar, Australian dollar and Swedish krona. | text | 4.5 | monetaryItemType | text: <entity> 4.5 </entity> <entity type> monetaryItemType </entity type> <context> We had foreign currency forward contracts with notional amounts of $ 3.6 billion at December 31, 2024, with the following currencies comprising 86 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Australian dollar, Canadian dollar and Euro. We had foreign currency forward contracts with notional amounts of $ 4.5 billion at December 31, 2023, with the following currencies comprising 85 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Canadian dollar, Australian dollar and Swedish krona. </context> | us-gaap:DerivativeNotionalAmount |
We had foreign currency forward contracts with notional amounts of $ 3.6 billion at December 31, 2024, with the following currencies comprising 86 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Australian dollar, Canadian dollar and Euro. We had foreign currency forward contracts with notional amounts of $ 4.5 billion at December 31, 2023, with the following currencies comprising 85 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Canadian dollar, Australian dollar and Swedish krona. | text | 85 | percentItemType | text: <entity> 85 </entity> <entity type> percentItemType </entity type> <context> We had foreign currency forward contracts with notional amounts of $ 3.6 billion at December 31, 2024, with the following currencies comprising 86 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Australian dollar, Canadian dollar and Euro. We had foreign currency forward contracts with notional amounts of $ 4.5 billion at December 31, 2023, with the following currencies comprising 85 percent of outstanding foreign currency forward contracts: British pound, Chinese renminbi, Canadian dollar, Australian dollar and Swedish krona. </context> | us-gaap:ConcentrationRiskPercentage1 |
We are further exposed to foreign currency exchange risk as many of our subsidiaries are subject to fluctuations as the functional currencies of the underlying entities are not our U.S. dollar reporting currency. To help reduce volatility in the equity value of our subsidiaries, we enter into foreign exchange forwards designated as net investment hedges for certain of our investments. Under the current terms of our foreign exchange forwards, we agreed with third parties to sell British pounds, Chinese renminbi and Euros in exchange for U.S. dollar currency at a specified rate at the maturity of the contract. The notional amount of these hedges at December 31, 2024, was $ 1.5 billion. | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> We are further exposed to foreign currency exchange risk as many of our subsidiaries are subject to fluctuations as the functional currencies of the underlying entities are not our U.S. dollar reporting currency. To help reduce volatility in the equity value of our subsidiaries, we enter into foreign exchange forwards designated as net investment hedges for certain of our investments. Under the current terms of our foreign exchange forwards, we agreed with third parties to sell British pounds, Chinese renminbi and Euros in exchange for U.S. dollar currency at a specified rate at the maturity of the contract. The notional amount of these hedges at December 31, 2024, was $ 1.5 billion. </context> | us-gaap:DerivativeNotionalAmount |
In September 2023, we entered into a series of interest rate swaps with a total notional value of $ 500 million in order to trade a portion of the floating rate into a fixed rate on our term loan, due in 2025. The weighted-average interest rate of the interest rate swaps was 5.72 percent. We designated the swaps as cash flow hedges. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and reclassified into earnings as interest expense in the | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> In September 2023, we entered into a series of interest rate swaps with a total notional value of $ 500 million in order to trade a portion of the floating rate into a fixed rate on our term loan, due in 2025. The weighted-average interest rate of the interest rate swaps was 5.72 percent. We designated the swaps as cash flow hedges. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and reclassified into earnings as interest expense in the </context> | us-gaap:DerivativeNotionalAmount |
In September 2023, we entered into a series of interest rate swaps with a total notional value of $ 500 million in order to trade a portion of the floating rate into a fixed rate on our term loan, due in 2025. The weighted-average interest rate of the interest rate swaps was 5.72 percent. We designated the swaps as cash flow hedges. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and reclassified into earnings as interest expense in the | text | 5.72 | percentItemType | text: <entity> 5.72 </entity> <entity type> percentItemType </entity type> <context> In September 2023, we entered into a series of interest rate swaps with a total notional value of $ 500 million in order to trade a portion of the floating rate into a fixed rate on our term loan, due in 2025. The weighted-average interest rate of the interest rate swaps was 5.72 percent. We designated the swaps as cash flow hedges. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and reclassified into earnings as interest expense in the </context> | us-gaap:DerivativeAverageFixedInterestRate |
In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the </context> | us-gaap:UnsecuredDebt |
In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the | text | 0.75 | percentItemType | text: <entity> 0.75 </entity> <entity type> percentItemType </entity type> <context> In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the | text | 765 | monetaryItemType | text: <entity> 765 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the </context> | us-gaap:DerivativeNotionalAmount |
In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the | text | 850 | monetaryItemType | text: <entity> 850 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the </context> | us-gaap:UnsecuredDebt |
In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the | text | 1.50 | percentItemType | text: <entity> 1.50 </entity> <entity type> percentItemType </entity type> <context> In 2021, we entered into a series of interest rate swaps to effectively convert our $ 500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month London Interbank Offered Rate ( LIBOR ) plus a spread (subsequently adjusted to SOFR under a fallback protocol in our derivative agreements). We also entered into a series of interest rate swaps to effectively convert $ 765 million of our $ 850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread (also similarly adjusted to SOFR ). We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
as interest expense. In March 2023, we settled a portion of our 2021 interest rate swaps with a notional amount of $ 100 million. The $ 7 million loss on settlement is being amortized over the remaining term of the related debt. In November 2024, we settled a portion of our interest rate swaps related to our 2025 and 2030 bonds with a combined notional amount of $ 135 million. The $ 12 million loss on settlement is being amortized over the remaining term of the related debt. The interest rate swaps on our 2025 and 2030 debt had $ 350 million and $ 680 million, respectively, of notional amounts outstanding at December 31, 2024. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> as interest expense. In March 2023, we settled a portion of our 2021 interest rate swaps with a notional amount of $ 100 million. The $ 7 million loss on settlement is being amortized over the remaining term of the related debt. In November 2024, we settled a portion of our interest rate swaps related to our 2025 and 2030 bonds with a combined notional amount of $ 135 million. The $ 12 million loss on settlement is being amortized over the remaining term of the related debt. The interest rate swaps on our 2025 and 2030 debt had $ 350 million and $ 680 million, respectively, of notional amounts outstanding at December 31, 2024. </context> | us-gaap:DeferredGainLossOnDiscontinuationOfInterestRateFairValueHedge |
as interest expense. In March 2023, we settled a portion of our 2021 interest rate swaps with a notional amount of $ 100 million. The $ 7 million loss on settlement is being amortized over the remaining term of the related debt. In November 2024, we settled a portion of our interest rate swaps related to our 2025 and 2030 bonds with a combined notional amount of $ 135 million. The $ 12 million loss on settlement is being amortized over the remaining term of the related debt. The interest rate swaps on our 2025 and 2030 debt had $ 350 million and $ 680 million, respectively, of notional amounts outstanding at December 31, 2024. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> as interest expense. In March 2023, we settled a portion of our 2021 interest rate swaps with a notional amount of $ 100 million. The $ 7 million loss on settlement is being amortized over the remaining term of the related debt. In November 2024, we settled a portion of our interest rate swaps related to our 2025 and 2030 bonds with a combined notional amount of $ 135 million. The $ 12 million loss on settlement is being amortized over the remaining term of the related debt. The interest rate swaps on our 2025 and 2030 debt had $ 350 million and $ 680 million, respectively, of notional amounts outstanding at December 31, 2024. </context> | us-gaap:DeferredGainLossOnDiscontinuationOfInterestRateFairValueHedge |
as interest expense. In March 2023, we settled a portion of our 2021 interest rate swaps with a notional amount of $ 100 million. The $ 7 million loss on settlement is being amortized over the remaining term of the related debt. In November 2024, we settled a portion of our interest rate swaps related to our 2025 and 2030 bonds with a combined notional amount of $ 135 million. The $ 12 million loss on settlement is being amortized over the remaining term of the related debt. The interest rate swaps on our 2025 and 2030 debt had $ 350 million and $ 680 million, respectively, of notional amounts outstanding at December 31, 2024. | text | 350 | monetaryItemType | text: <entity> 350 </entity> <entity type> monetaryItemType </entity type> <context> as interest expense. In March 2023, we settled a portion of our 2021 interest rate swaps with a notional amount of $ 100 million. The $ 7 million loss on settlement is being amortized over the remaining term of the related debt. In November 2024, we settled a portion of our interest rate swaps related to our 2025 and 2030 bonds with a combined notional amount of $ 135 million. The $ 12 million loss on settlement is being amortized over the remaining term of the related debt. The interest rate swaps on our 2025 and 2030 debt had $ 350 million and $ 680 million, respectively, of notional amounts outstanding at December 31, 2024. </context> | us-gaap:DerivativeNotionalAmount |
as interest expense. In March 2023, we settled a portion of our 2021 interest rate swaps with a notional amount of $ 100 million. The $ 7 million loss on settlement is being amortized over the remaining term of the related debt. In November 2024, we settled a portion of our interest rate swaps related to our 2025 and 2030 bonds with a combined notional amount of $ 135 million. The $ 12 million loss on settlement is being amortized over the remaining term of the related debt. The interest rate swaps on our 2025 and 2030 debt had $ 350 million and $ 680 million, respectively, of notional amounts outstanding at December 31, 2024. | text | 680 | monetaryItemType | text: <entity> 680 </entity> <entity type> monetaryItemType </entity type> <context> as interest expense. In March 2023, we settled a portion of our 2021 interest rate swaps with a notional amount of $ 100 million. The $ 7 million loss on settlement is being amortized over the remaining term of the related debt. In November 2024, we settled a portion of our interest rate swaps related to our 2025 and 2030 bonds with a combined notional amount of $ 135 million. The $ 12 million loss on settlement is being amortized over the remaining term of the related debt. The interest rate swaps on our 2025 and 2030 debt had $ 350 million and $ 680 million, respectively, of notional amounts outstanding at December 31, 2024. </context> | us-gaap:DerivativeNotionalAmount |
In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: | text | 350 | monetaryItemType | text: <entity> 350 </entity> <entity type> monetaryItemType </entity type> <context> In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: </context> | us-gaap:DerivativeNotionalAmount |
In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: | text | 150 | monetaryItemType | text: <entity> 150 </entity> <entity type> monetaryItemType </entity type> <context> In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: </context> | us-gaap:DerivativeNotionalAmount |
In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: </context> | us-gaap:DerivativeNotionalAmount |
In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: | text | 49 | monetaryItemType | text: <entity> 49 </entity> <entity type> monetaryItemType </entity type> <context> In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: </context> | us-gaap:DerivativeCashReceivedOnHedge |
In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: | text | 101 | monetaryItemType | text: <entity> 101 </entity> <entity type> monetaryItemType </entity type> <context> In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: </context> | us-gaap:DerivativeCashReceivedOnHedge |
In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: | text | 150 | monetaryItemType | text: <entity> 150 </entity> <entity type> monetaryItemType </entity type> <context> In 2019, we entered into $ 350 million of interest rate lock agreements, and in 2020 we entered into an additional $ 150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $ 500 million of fixed rate debt originally forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirrored the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments were initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In 2022, we settled certain rate lock agreements with notional amounts totaling $ 150 million for $ 49 million in cash. In 2023, we settled all remaining rate lock agreements with notional amounts totaling $ 350 million for $ 101 million. The majority of the $ 150 million of gains on settlements remained in other comprehensive income and is being amortized over the remaining term of the related debt issued in early 2024. The following table summarizes the interest rate lock activity in AOCL: </context> | us-gaap:DerivativeCashReceivedOnHedge |
. Had we chosen to present on a net basis, we would have derivatives in a net asset position of $ 37 million and $ 4 million and derivatives in a net liability position of $ 131 million and $ 148 million at December 31, 2024, and 2023, respectively. | text | 37 | monetaryItemType | text: <entity> 37 </entity> <entity type> monetaryItemType </entity type> <context> . Had we chosen to present on a net basis, we would have derivatives in a net asset position of $ 37 million and $ 4 million and derivatives in a net liability position of $ 131 million and $ 148 million at December 31, 2024, and 2023, respectively. </context> | us-gaap:DerivativeAssetsLiabilitiesAtFairValueNet |
. Had we chosen to present on a net basis, we would have derivatives in a net asset position of $ 37 million and $ 4 million and derivatives in a net liability position of $ 131 million and $ 148 million at December 31, 2024, and 2023, respectively. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> . Had we chosen to present on a net basis, we would have derivatives in a net asset position of $ 37 million and $ 4 million and derivatives in a net liability position of $ 131 million and $ 148 million at December 31, 2024, and 2023, respectively. </context> | us-gaap:DerivativeAssetsLiabilitiesAtFairValueNet |
. Had we chosen to present on a net basis, we would have derivatives in a net asset position of $ 37 million and $ 4 million and derivatives in a net liability position of $ 131 million and $ 148 million at December 31, 2024, and 2023, respectively. | text | 131 | monetaryItemType | text: <entity> 131 </entity> <entity type> monetaryItemType </entity type> <context> . Had we chosen to present on a net basis, we would have derivatives in a net asset position of $ 37 million and $ 4 million and derivatives in a net liability position of $ 131 million and $ 148 million at December 31, 2024, and 2023, respectively. </context> | us-gaap:DerivativeNetLiabilityPositionAggregateFairValue |
. Had we chosen to present on a net basis, we would have derivatives in a net asset position of $ 37 million and $ 4 million and derivatives in a net liability position of $ 131 million and $ 148 million at December 31, 2024, and 2023, respectively. | text | 148 | monetaryItemType | text: <entity> 148 </entity> <entity type> monetaryItemType </entity type> <context> . Had we chosen to present on a net basis, we would have derivatives in a net asset position of $ 37 million and $ 4 million and derivatives in a net liability position of $ 131 million and $ 148 million at December 31, 2024, and 2023, respectively. </context> | us-gaap:DerivativeNetLiabilityPositionAggregateFairValue |
On May 23, 2023, in connection with the Atmus IPO, Cummins issued approximately $ 350 million of commercial paper with certain lenders. On May 26, 2023, Atmus shares began trading on the New York Stock Exchange under the symbol "ATMU." The IPO was completed on May 30, 2023, whereby Cummins exchanged 19.5 percent (approximately 16 million shares) of its ownership in Atmus, at $ 19.50 per share, to retire $ 299 million of the commercial paper as proceeds from the offering through a non-cash transaction. | text | 350 | monetaryItemType | text: <entity> 350 </entity> <entity type> monetaryItemType </entity type> <context> On May 23, 2023, in connection with the Atmus IPO, Cummins issued approximately $ 350 million of commercial paper with certain lenders. On May 26, 2023, Atmus shares began trading on the New York Stock Exchange under the symbol "ATMU." The IPO was completed on May 30, 2023, whereby Cummins exchanged 19.5 percent (approximately 16 million shares) of its ownership in Atmus, at $ 19.50 per share, to retire $ 299 million of the commercial paper as proceeds from the offering through a non-cash transaction. </context> | us-gaap:ProceedsFromIssuanceOfCommercialPaper |
On May 23, 2023, in connection with the Atmus IPO, Cummins issued approximately $ 350 million of commercial paper with certain lenders. On May 26, 2023, Atmus shares began trading on the New York Stock Exchange under the symbol "ATMU." The IPO was completed on May 30, 2023, whereby Cummins exchanged 19.5 percent (approximately 16 million shares) of its ownership in Atmus, at $ 19.50 per share, to retire $ 299 million of the commercial paper as proceeds from the offering through a non-cash transaction. | text | 16 | sharesItemType | text: <entity> 16 </entity> <entity type> sharesItemType </entity type> <context> On May 23, 2023, in connection with the Atmus IPO, Cummins issued approximately $ 350 million of commercial paper with certain lenders. On May 26, 2023, Atmus shares began trading on the New York Stock Exchange under the symbol "ATMU." The IPO was completed on May 30, 2023, whereby Cummins exchanged 19.5 percent (approximately 16 million shares) of its ownership in Atmus, at $ 19.50 per share, to retire $ 299 million of the commercial paper as proceeds from the offering through a non-cash transaction. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
On May 23, 2023, in connection with the Atmus IPO, Cummins issued approximately $ 350 million of commercial paper with certain lenders. On May 26, 2023, Atmus shares began trading on the New York Stock Exchange under the symbol "ATMU." The IPO was completed on May 30, 2023, whereby Cummins exchanged 19.5 percent (approximately 16 million shares) of its ownership in Atmus, at $ 19.50 per share, to retire $ 299 million of the commercial paper as proceeds from the offering through a non-cash transaction. | text | 19.50 | perShareItemType | text: <entity> 19.50 </entity> <entity type> perShareItemType </entity type> <context> On May 23, 2023, in connection with the Atmus IPO, Cummins issued approximately $ 350 million of commercial paper with certain lenders. On May 26, 2023, Atmus shares began trading on the New York Stock Exchange under the symbol "ATMU." The IPO was completed on May 30, 2023, whereby Cummins exchanged 19.5 percent (approximately 16 million shares) of its ownership in Atmus, at $ 19.50 per share, to retire $ 299 million of the commercial paper as proceeds from the offering through a non-cash transaction. </context> | us-gaap:SaleOfStockPricePerShare |
On May 23, 2023, in connection with the Atmus IPO, Cummins issued approximately $ 350 million of commercial paper with certain lenders. On May 26, 2023, Atmus shares began trading on the New York Stock Exchange under the symbol "ATMU." The IPO was completed on May 30, 2023, whereby Cummins exchanged 19.5 percent (approximately 16 million shares) of its ownership in Atmus, at $ 19.50 per share, to retire $ 299 million of the commercial paper as proceeds from the offering through a non-cash transaction. | text | 299 | monetaryItemType | text: <entity> 299 </entity> <entity type> monetaryItemType </entity type> <context> On May 23, 2023, in connection with the Atmus IPO, Cummins issued approximately $ 350 million of commercial paper with certain lenders. On May 26, 2023, Atmus shares began trading on the New York Stock Exchange under the symbol "ATMU." The IPO was completed on May 30, 2023, whereby Cummins exchanged 19.5 percent (approximately 16 million shares) of its ownership in Atmus, at $ 19.50 per share, to retire $ 299 million of the commercial paper as proceeds from the offering through a non-cash transaction. </context> | us-gaap:ProceedsFromIssuanceOrSaleOfEquity |
In connection with the completion of the IPO, through a series of asset and equity contributions, we transferred the filtration business to Atmus. In exchange, Atmus transferred consideration of $ 650 million to Cummins, which consisted primarily of the net proceeds from a term loan facility and revolver executed by Atmus during May 2023. The commercial paper issued and retired through the IPO proceeds, coupled with the $ 650 million received, was used for the retirement of our historical debt and payment of dividends. The difference between the commercial paper retired from the IPO, other IPO related fees and the net book value of our divested interest was $ 285 million and recorded as an offset to additional paid-in capital. Of our consolidated cash and cash equivalents at December 31, 2023, $ 166 million was retained by Atmus for its working capital purposes. | text | 166 | monetaryItemType | text: <entity> 166 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the completion of the IPO, through a series of asset and equity contributions, we transferred the filtration business to Atmus. In exchange, Atmus transferred consideration of $ 650 million to Cummins, which consisted primarily of the net proceeds from a term loan facility and revolver executed by Atmus during May 2023. The commercial paper issued and retired through the IPO proceeds, coupled with the $ 650 million received, was used for the retirement of our historical debt and payment of dividends. The difference between the commercial paper retired from the IPO, other IPO related fees and the net book value of our divested interest was $ 285 million and recorded as an offset to additional paid-in capital. Of our consolidated cash and cash equivalents at December 31, 2023, $ 166 million was retained by Atmus for its working capital purposes. </context> | us-gaap:CashAndCashEquivalentsAtCarryingValue |
On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus common stock through a tax-free split-off. The transaction involved the exchange of our shares in Atmus for shares of Cummins stock with a 7.0 percent discount on the exchange ratio for Atmus shares. The exchange ratio was determined based on each entity's respective stock price using the daily volume weighted-average stock price for three days preceding the final exchange offer date. Based on the final exchange ratio, we exchanged all 67 million of our Atmus shares for 5.6 million shares of Cummins stock, which was recorded as treasury stock based on the fair value of the Cummins shares obtained. | text | 80.5 | percentItemType | text: <entity> 80.5 </entity> <entity type> percentItemType </entity type> <context> On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus common stock through a tax-free split-off. The transaction involved the exchange of our shares in Atmus for shares of Cummins stock with a 7.0 percent discount on the exchange ratio for Atmus shares. The exchange ratio was determined based on each entity's respective stock price using the daily volume weighted-average stock price for three days preceding the final exchange offer date. Based on the final exchange ratio, we exchanged all 67 million of our Atmus shares for 5.6 million shares of Cummins stock, which was recorded as treasury stock based on the fair value of the Cummins shares obtained. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus common stock through a tax-free split-off. The transaction involved the exchange of our shares in Atmus for shares of Cummins stock with a 7.0 percent discount on the exchange ratio for Atmus shares. The exchange ratio was determined based on each entity's respective stock price using the daily volume weighted-average stock price for three days preceding the final exchange offer date. Based on the final exchange ratio, we exchanged all 67 million of our Atmus shares for 5.6 million shares of Cummins stock, which was recorded as treasury stock based on the fair value of the Cummins shares obtained. | text | 67 | sharesItemType | text: <entity> 67 </entity> <entity type> sharesItemType </entity type> <context> On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus common stock through a tax-free split-off. The transaction involved the exchange of our shares in Atmus for shares of Cummins stock with a 7.0 percent discount on the exchange ratio for Atmus shares. The exchange ratio was determined based on each entity's respective stock price using the daily volume weighted-average stock price for three days preceding the final exchange offer date. Based on the final exchange ratio, we exchanged all 67 million of our Atmus shares for 5.6 million shares of Cummins stock, which was recorded as treasury stock based on the fair value of the Cummins shares obtained. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus common stock through a tax-free split-off. The transaction involved the exchange of our shares in Atmus for shares of Cummins stock with a 7.0 percent discount on the exchange ratio for Atmus shares. The exchange ratio was determined based on each entity's respective stock price using the daily volume weighted-average stock price for three days preceding the final exchange offer date. Based on the final exchange ratio, we exchanged all 67 million of our Atmus shares for 5.6 million shares of Cummins stock, which was recorded as treasury stock based on the fair value of the Cummins shares obtained. | text | 5.6 | sharesItemType | text: <entity> 5.6 </entity> <entity type> sharesItemType </entity type> <context> On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus common stock through a tax-free split-off. The transaction involved the exchange of our shares in Atmus for shares of Cummins stock with a 7.0 percent discount on the exchange ratio for Atmus shares. The exchange ratio was determined based on each entity's respective stock price using the daily volume weighted-average stock price for three days preceding the final exchange offer date. Based on the final exchange ratio, we exchanged all 67 million of our Atmus shares for 5.6 million shares of Cummins stock, which was recorded as treasury stock based on the fair value of the Cummins shares obtained. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
We evaluated the full divestiture of Atmus and determined the transaction did not qualify for discontinued operation presentation. We recognized a gain related to the divestiture of approximately $ 1.3 billion (based on the difference between the fair value of the Cummins shares obtained less the carrying value of our Atmus investment), which was recorded in other income, net in our | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> We evaluated the full divestiture of Atmus and determined the transaction did not qualify for discontinued operation presentation. We recognized a gain related to the divestiture of approximately $ 1.3 billion (based on the difference between the fair value of the Cummins shares obtained less the carrying value of our Atmus investment), which was recorded in other income, net in our </context> | us-gaap:GainLossOnSaleOfBusiness |
for the year ended December 31, 2024. Approximately $ 114 million of goodwill was included in the carrying value of the Atmus investment for purposes of calculating the gain. The operating results of Atmus were reported in the | text | 114 | monetaryItemType | text: <entity> 114 </entity> <entity type> monetaryItemType </entity type> <context> for the year ended December 31, 2024. Approximately $ 114 million of goodwill was included in the carrying value of the Atmus investment for purposes of calculating the gain. The operating results of Atmus were reported in the </context> | us-gaap:Goodwill |
As part of the divestiture, the $ 600 million term loan remained with Atmus after the split. In addition, a net $ 61 million of other comprehensive income and $ 19 million of noncontrolling interests related to Atmus were written-off and netted against the gain recognized upon the split. | text | 600 | monetaryItemType | text: <entity> 600 </entity> <entity type> monetaryItemType </entity type> <context> As part of the divestiture, the $ 600 million term loan remained with Atmus after the split. In addition, a net $ 61 million of other comprehensive income and $ 19 million of noncontrolling interests related to Atmus were written-off and netted against the gain recognized upon the split. </context> | us-gaap:UnsecuredDebt |
As part of the divestiture, the $ 600 million term loan remained with Atmus after the split. In addition, a net $ 61 million of other comprehensive income and $ 19 million of noncontrolling interests related to Atmus were written-off and netted against the gain recognized upon the split. | text | 61 | monetaryItemType | text: <entity> 61 </entity> <entity type> monetaryItemType </entity type> <context> As part of the divestiture, the $ 600 million term loan remained with Atmus after the split. In addition, a net $ 61 million of other comprehensive income and $ 19 million of noncontrolling interests related to Atmus were written-off and netted against the gain recognized upon the split. </context> | us-gaap:OtherComprehensiveIncomeLossNetOfTax |
In the fourth quarter of 2024, our Accelera segment underwent a strategic review to better streamline operations as well as pace and re-focus investments on the most promising paths as the adoption of certain zero emission solutions slows. This review resulted in decisions to consolidate certain manufacturing efforts, focus internal development efforts towards areas of differentiation while continuing to leverage partners and reduce our investments in certain technologies, joint ventures and markets. In addition, declining customer demand in certain key product lines caused us to re-evaluate the recoverability of certain inventory items. As a result of these actions, we recorded several non-cash charges in the fourth quarter related to inventory write-downs, intangible and fixed asset impairments and joint venture impairments. We also recorded severance of approximately $ 7 million. The following table presents the impact of asset write-downs and impairments on our | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> In the fourth quarter of 2024, our Accelera segment underwent a strategic review to better streamline operations as well as pace and re-focus investments on the most promising paths as the adoption of certain zero emission solutions slows. This review resulted in decisions to consolidate certain manufacturing efforts, focus internal development efforts towards areas of differentiation while continuing to leverage partners and reduce our investments in certain technologies, joint ventures and markets. In addition, declining customer demand in certain key product lines caused us to re-evaluate the recoverability of certain inventory items. As a result of these actions, we recorded several non-cash charges in the fourth quarter related to inventory write-downs, intangible and fixed asset impairments and joint venture impairments. We also recorded severance of approximately $ 7 million. The following table presents the impact of asset write-downs and impairments on our </context> | us-gaap:SeveranceCosts1 |
The majority of the $ 305 million non-cash charge is reflected in net cash provided by operating activities, as a change in inventory of $ 107 million and other, net of $ 171 million. Of the total charges, approximately $ 243 million occurred in jurisdictions where we receive no tax benefits because of valuation allowances, resulting in a $ 50 million unfavorable discrete tax item. In addition, these actions were considered a triggering event under GAAP which required us to perform an interim impairment test of our fuel cell and electrolyzer reporting unit. The results of this testing indicated that goodwill of this reporting unit was not impaired. | text | 305 | monetaryItemType | text: <entity> 305 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the $ 305 million non-cash charge is reflected in net cash provided by operating activities, as a change in inventory of $ 107 million and other, net of $ 171 million. Of the total charges, approximately $ 243 million occurred in jurisdictions where we receive no tax benefits because of valuation allowances, resulting in a $ 50 million unfavorable discrete tax item. In addition, these actions were considered a triggering event under GAAP which required us to perform an interim impairment test of our fuel cell and electrolyzer reporting unit. The results of this testing indicated that goodwill of this reporting unit was not impaired. </context> | us-gaap:RestructuringCostsAndAssetImpairmentCharges |
The majority of the $ 305 million non-cash charge is reflected in net cash provided by operating activities, as a change in inventory of $ 107 million and other, net of $ 171 million. Of the total charges, approximately $ 243 million occurred in jurisdictions where we receive no tax benefits because of valuation allowances, resulting in a $ 50 million unfavorable discrete tax item. In addition, these actions were considered a triggering event under GAAP which required us to perform an interim impairment test of our fuel cell and electrolyzer reporting unit. The results of this testing indicated that goodwill of this reporting unit was not impaired. | text | 107 | monetaryItemType | text: <entity> 107 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the $ 305 million non-cash charge is reflected in net cash provided by operating activities, as a change in inventory of $ 107 million and other, net of $ 171 million. Of the total charges, approximately $ 243 million occurred in jurisdictions where we receive no tax benefits because of valuation allowances, resulting in a $ 50 million unfavorable discrete tax item. In addition, these actions were considered a triggering event under GAAP which required us to perform an interim impairment test of our fuel cell and electrolyzer reporting unit. The results of this testing indicated that goodwill of this reporting unit was not impaired. </context> | us-gaap:IncreaseDecreaseInInventories |
The majority of the $ 305 million non-cash charge is reflected in net cash provided by operating activities, as a change in inventory of $ 107 million and other, net of $ 171 million. Of the total charges, approximately $ 243 million occurred in jurisdictions where we receive no tax benefits because of valuation allowances, resulting in a $ 50 million unfavorable discrete tax item. In addition, these actions were considered a triggering event under GAAP which required us to perform an interim impairment test of our fuel cell and electrolyzer reporting unit. The results of this testing indicated that goodwill of this reporting unit was not impaired. | text | 171 | monetaryItemType | text: <entity> 171 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the $ 305 million non-cash charge is reflected in net cash provided by operating activities, as a change in inventory of $ 107 million and other, net of $ 171 million. Of the total charges, approximately $ 243 million occurred in jurisdictions where we receive no tax benefits because of valuation allowances, resulting in a $ 50 million unfavorable discrete tax item. In addition, these actions were considered a triggering event under GAAP which required us to perform an interim impairment test of our fuel cell and electrolyzer reporting unit. The results of this testing indicated that goodwill of this reporting unit was not impaired. </context> | us-gaap:OtherOperatingActivitiesCashFlowStatement |
The majority of the $ 305 million non-cash charge is reflected in net cash provided by operating activities, as a change in inventory of $ 107 million and other, net of $ 171 million. Of the total charges, approximately $ 243 million occurred in jurisdictions where we receive no tax benefits because of valuation allowances, resulting in a $ 50 million unfavorable discrete tax item. In addition, these actions were considered a triggering event under GAAP which required us to perform an interim impairment test of our fuel cell and electrolyzer reporting unit. The results of this testing indicated that goodwill of this reporting unit was not impaired. | text | 243 | monetaryItemType | text: <entity> 243 </entity> <entity type> monetaryItemType </entity type> <context> The majority of the $ 305 million non-cash charge is reflected in net cash provided by operating activities, as a change in inventory of $ 107 million and other, net of $ 171 million. Of the total charges, approximately $ 243 million occurred in jurisdictions where we receive no tax benefits because of valuation allowances, resulting in a $ 50 million unfavorable discrete tax item. In addition, these actions were considered a triggering event under GAAP which required us to perform an interim impairment test of our fuel cell and electrolyzer reporting unit. The results of this testing indicated that goodwill of this reporting unit was not impaired. </context> | us-gaap:IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges |
On October 2, 2023, we purchased, from the Forvia Group, all of the equity ownership of Faurecia's U.S. and Europe commercial vehicle exhaust business for $ 208 million, subject to certain working capital and other customary adjustments, and does not contain any contingent consideration. The acquisition provides canning and assembly operations for full exhaust systems primarily for on-highway applications, ensures the long-term supply of aftertreatment components, minimizes opportunities for supply disruptions, adds significant technical and manufacturing resources and enhances our existing portfolio. In the third quarter of 2024, we finalized the purchase accounting and made certain other adjustments. The primary adjustments were to reduce property, plant and equipment by $ 3 million, offset by the finalization of purchase price, with a net increase to goodwill of $ 2 million. | text | 208 | monetaryItemType | text: <entity> 208 </entity> <entity type> monetaryItemType </entity type> <context> On October 2, 2023, we purchased, from the Forvia Group, all of the equity ownership of Faurecia's U.S. and Europe commercial vehicle exhaust business for $ 208 million, subject to certain working capital and other customary adjustments, and does not contain any contingent consideration. The acquisition provides canning and assembly operations for full exhaust systems primarily for on-highway applications, ensures the long-term supply of aftertreatment components, minimizes opportunities for supply disruptions, adds significant technical and manufacturing resources and enhances our existing portfolio. In the third quarter of 2024, we finalized the purchase accounting and made certain other adjustments. The primary adjustments were to reduce property, plant and equipment by $ 3 million, offset by the finalization of purchase price, with a net increase to goodwill of $ 2 million. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
On October 2, 2023, we purchased, from the Forvia Group, all of the equity ownership of Faurecia's U.S. and Europe commercial vehicle exhaust business for $ 208 million, subject to certain working capital and other customary adjustments, and does not contain any contingent consideration. The acquisition provides canning and assembly operations for full exhaust systems primarily for on-highway applications, ensures the long-term supply of aftertreatment components, minimizes opportunities for supply disruptions, adds significant technical and manufacturing resources and enhances our existing portfolio. In the third quarter of 2024, we finalized the purchase accounting and made certain other adjustments. The primary adjustments were to reduce property, plant and equipment by $ 3 million, offset by the finalization of purchase price, with a net increase to goodwill of $ 2 million. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> On October 2, 2023, we purchased, from the Forvia Group, all of the equity ownership of Faurecia's U.S. and Europe commercial vehicle exhaust business for $ 208 million, subject to certain working capital and other customary adjustments, and does not contain any contingent consideration. The acquisition provides canning and assembly operations for full exhaust systems primarily for on-highway applications, ensures the long-term supply of aftertreatment components, minimizes opportunities for supply disruptions, adds significant technical and manufacturing resources and enhances our existing portfolio. In the third quarter of 2024, we finalized the purchase accounting and made certain other adjustments. The primary adjustments were to reduce property, plant and equipment by $ 3 million, offset by the finalization of purchase price, with a net increase to goodwill of $ 2 million. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment |
On October 2, 2023, we purchased, from the Forvia Group, all of the equity ownership of Faurecia's U.S. and Europe commercial vehicle exhaust business for $ 208 million, subject to certain working capital and other customary adjustments, and does not contain any contingent consideration. The acquisition provides canning and assembly operations for full exhaust systems primarily for on-highway applications, ensures the long-term supply of aftertreatment components, minimizes opportunities for supply disruptions, adds significant technical and manufacturing resources and enhances our existing portfolio. In the third quarter of 2024, we finalized the purchase accounting and made certain other adjustments. The primary adjustments were to reduce property, plant and equipment by $ 3 million, offset by the finalization of purchase price, with a net increase to goodwill of $ 2 million. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> On October 2, 2023, we purchased, from the Forvia Group, all of the equity ownership of Faurecia's U.S. and Europe commercial vehicle exhaust business for $ 208 million, subject to certain working capital and other customary adjustments, and does not contain any contingent consideration. The acquisition provides canning and assembly operations for full exhaust systems primarily for on-highway applications, ensures the long-term supply of aftertreatment components, minimizes opportunities for supply disruptions, adds significant technical and manufacturing resources and enhances our existing portfolio. In the third quarter of 2024, we finalized the purchase accounting and made certain other adjustments. The primary adjustments were to reduce property, plant and equipment by $ 3 million, offset by the finalization of purchase price, with a net increase to goodwill of $ 2 million. </context> | us-gaap:Goodwill |
On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our | text | 19 | percentItemType | text: <entity> 19 </entity> <entity type> percentItemType </entity type> <context> On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our </context> | us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired |
On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our | text | 335 | monetaryItemType | text: <entity> 335 </entity> <entity type> monetaryItemType </entity type> <context> On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our </context> | us-gaap:OtherCommitment |
On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our | text | 175 | monetaryItemType | text: <entity> 175 </entity> <entity type> monetaryItemType </entity type> <context> On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our </context> | us-gaap:LoansPayable |
On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our | text | 50 | monetaryItemType | text: <entity> 50 </entity> <entity type> monetaryItemType </entity type> <context> On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our </context> | us-gaap:LoansPayable |
On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our | text | 110 | monetaryItemType | text: <entity> 110 </entity> <entity type> monetaryItemType </entity type> <context> On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $ 335 million for their 19 percent ownership, including the settlement of shareholder loans of $ 48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $ 175 million paid in 2023, $ 50 million paid in 2024 and the remaining $ 110 million due in two installments in 2025. We recorded the non-interest-bearing promissory notes at their present value in our </context> | us-gaap:UnsecuredDebt |
with an offset to additional paid-in capital, and at December 31, 2022, the balance was $ 258 million. The redeemable noncontrolling interest balance was reduced to zero as of the acquisition date. | text | 258 | monetaryItemType | text: <entity> 258 </entity> <entity type> monetaryItemType </entity type> <context> with an offset to additional paid-in capital, and at December 31, 2022, the balance was $ 258 million. The redeemable noncontrolling interest balance was reduced to zero as of the acquisition date. </context> | us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount |
On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. | text | 36.50 | perShareItemType | text: <entity> 36.50 </entity> <entity type> perShareItemType </entity type> <context> On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. </context> | us-gaap:BusinessAcquisitionSharePrice |
On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. | text | 2.9 | monetaryItemType | text: <entity> 2.9 </entity> <entity type> monetaryItemType </entity type> <context> On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt |
On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. </context> | us-gaap:RepaymentsOfDebt |
On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> On August 3, 2022, we completed the acquisition of Meritor whereby we paid $ 36.50 per share for each outstanding share of Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. The total purchase price was $ 2.9 billion, including debt that was retired on the closing date of $ 248 million. In addition, we assumed $ 1.0 billion of additional debt, of which $ 0.9 billion was retired prior to the end of the third quarter of 2022. The acquisition was funded with a combination of $ 2.0 billion in new debt (see NOTE 12, "DEBT" for additional details), cash on hand and additional commercial paper borrowings. The integration of Meritor’s people, technology and capabilities position us as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications at a time when demand for decarbonized solutions is continuing to accelerate. The majority of this business was included within our Components segment with the exception of the electric powertrain business, which was included in our Accelera segment. </context> | us-gaap:UnsecuredDebt |
Annual amortization of the intangible assets for the next five years is expected to approximate $ 142 million per year. | text | 142 | monetaryItemType | text: <entity> 142 </entity> <entity type> monetaryItemType </entity type> <context> Annual amortization of the intangible assets for the next five years is expected to approximate $ 142 million per year. </context> | us-gaap:AmortizationOfIntangibleAssets |
Goodwill was determined based on the residual difference between the fair value of consideration transferred and the value assigned to tangible and intangible assets and liabilities. Goodwill was allocated to the Components segment ($ 759 million) and the Accelera segment ($ 167 million) based on the relative value of those businesses compared to the assets and liabilities assigned to them. We do not expect any of the goodwill to be deductible for tax purposes. Among the factors contributing to a purchase price resulting in the recognition of goodwill are Meritor’s expected future customers, new versions of technologies, an acquired workforce, other economic benefits that are anticipated to arise from future product sales and operational synergies from combining the business with Cummins. | text | 759 | monetaryItemType | text: <entity> 759 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill was determined based on the residual difference between the fair value of consideration transferred and the value assigned to tangible and intangible assets and liabilities. Goodwill was allocated to the Components segment ($ 759 million) and the Accelera segment ($ 167 million) based on the relative value of those businesses compared to the assets and liabilities assigned to them. We do not expect any of the goodwill to be deductible for tax purposes. Among the factors contributing to a purchase price resulting in the recognition of goodwill are Meritor’s expected future customers, new versions of technologies, an acquired workforce, other economic benefits that are anticipated to arise from future product sales and operational synergies from combining the business with Cummins. </context> | us-gaap:Goodwill |
Goodwill was determined based on the residual difference between the fair value of consideration transferred and the value assigned to tangible and intangible assets and liabilities. Goodwill was allocated to the Components segment ($ 759 million) and the Accelera segment ($ 167 million) based on the relative value of those businesses compared to the assets and liabilities assigned to them. We do not expect any of the goodwill to be deductible for tax purposes. Among the factors contributing to a purchase price resulting in the recognition of goodwill are Meritor’s expected future customers, new versions of technologies, an acquired workforce, other economic benefits that are anticipated to arise from future product sales and operational synergies from combining the business with Cummins. | text | 167 | monetaryItemType | text: <entity> 167 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill was determined based on the residual difference between the fair value of consideration transferred and the value assigned to tangible and intangible assets and liabilities. Goodwill was allocated to the Components segment ($ 759 million) and the Accelera segment ($ 167 million) based on the relative value of those businesses compared to the assets and liabilities assigned to them. We do not expect any of the goodwill to be deductible for tax purposes. Among the factors contributing to a purchase price resulting in the recognition of goodwill are Meritor’s expected future customers, new versions of technologies, an acquired workforce, other economic benefits that are anticipated to arise from future product sales and operational synergies from combining the business with Cummins. </context> | us-gaap:Goodwill |
Included in our results for the year ended December 31, 2022, were revenues of $ 1.9 billion and net loss of $ 43 million related to this business. In addition, in 2022 we incurred acquisition related costs of $ 30 million included in selling, general and administrative expenses in our | text | 1.9 | monetaryItemType | text: <entity> 1.9 </entity> <entity type> monetaryItemType </entity type> <context> Included in our results for the year ended December 31, 2022, were revenues of $ 1.9 billion and net loss of $ 43 million related to this business. In addition, in 2022 we incurred acquisition related costs of $ 30 million included in selling, general and administrative expenses in our </context> | us-gaap:Revenues |
Included in our results for the year ended December 31, 2022, were revenues of $ 1.9 billion and net loss of $ 43 million related to this business. In addition, in 2022 we incurred acquisition related costs of $ 30 million included in selling, general and administrative expenses in our | text | 43 | monetaryItemType | text: <entity> 43 </entity> <entity type> monetaryItemType </entity type> <context> Included in our results for the year ended December 31, 2022, were revenues of $ 1.9 billion and net loss of $ 43 million related to this business. In addition, in 2022 we incurred acquisition related costs of $ 30 million included in selling, general and administrative expenses in our </context> | us-gaap:IncomeLossFromSubsidiariesNetOfTax |
Included in our results for the year ended December 31, 2022, were revenues of $ 1.9 billion and net loss of $ 43 million related to this business. In addition, in 2022 we incurred acquisition related costs of $ 30 million included in selling, general and administrative expenses in our | text | 30 | monetaryItemType | text: <entity> 30 </entity> <entity type> monetaryItemType </entity type> <context> Included in our results for the year ended December 31, 2022, were revenues of $ 1.9 billion and net loss of $ 43 million related to this business. In addition, in 2022 we incurred acquisition related costs of $ 30 million included in selling, general and administrative expenses in our </context> | us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts |
The Meritor acquisition increased net assets in the Components segment by $ 3.8 billion and Accelera segment by $ 0.3 billion in 2022. | text | 3.8 | monetaryItemType | text: <entity> 3.8 </entity> <entity type> monetaryItemType </entity type> <context> The Meritor acquisition increased net assets in the Components segment by $ 3.8 billion and Accelera segment by $ 0.3 billion in 2022. </context> | us-gaap:AssetsNet |
The Meritor acquisition increased net assets in the Components segment by $ 3.8 billion and Accelera segment by $ 0.3 billion in 2022. | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> The Meritor acquisition increased net assets in the Components segment by $ 3.8 billion and Accelera segment by $ 0.3 billion in 2022. </context> | us-gaap:AssetsNet |
Our largest customer is PACCAR Inc. Worldwide sales to this customer were approximately $ 5.4 billion, $ 5.5 billion and $ 4.5 billion for the years ended December 31, 2024, 2023 and 2022, representing 16 percent, 16 percent and 16 percent, respectively, of our consolidated net sales. No other customer accounted for more than 10 percent of consolidated net sales. | text | 5.4 | monetaryItemType | text: <entity> 5.4 </entity> <entity type> monetaryItemType </entity type> <context> Our largest customer is PACCAR Inc. Worldwide sales to this customer were approximately $ 5.4 billion, $ 5.5 billion and $ 4.5 billion for the years ended December 31, 2024, 2023 and 2022, representing 16 percent, 16 percent and 16 percent, respectively, of our consolidated net sales. No other customer accounted for more than 10 percent of consolidated net sales. </context> | us-gaap:Revenues |
Our largest customer is PACCAR Inc. Worldwide sales to this customer were approximately $ 5.4 billion, $ 5.5 billion and $ 4.5 billion for the years ended December 31, 2024, 2023 and 2022, representing 16 percent, 16 percent and 16 percent, respectively, of our consolidated net sales. No other customer accounted for more than 10 percent of consolidated net sales. | text | 5.5 | monetaryItemType | text: <entity> 5.5 </entity> <entity type> monetaryItemType </entity type> <context> Our largest customer is PACCAR Inc. Worldwide sales to this customer were approximately $ 5.4 billion, $ 5.5 billion and $ 4.5 billion for the years ended December 31, 2024, 2023 and 2022, representing 16 percent, 16 percent and 16 percent, respectively, of our consolidated net sales. No other customer accounted for more than 10 percent of consolidated net sales. </context> | us-gaap:Revenues |
Our largest customer is PACCAR Inc. Worldwide sales to this customer were approximately $ 5.4 billion, $ 5.5 billion and $ 4.5 billion for the years ended December 31, 2024, 2023 and 2022, representing 16 percent, 16 percent and 16 percent, respectively, of our consolidated net sales. No other customer accounted for more than 10 percent of consolidated net sales. | text | 4.5 | monetaryItemType | text: <entity> 4.5 </entity> <entity type> monetaryItemType </entity type> <context> Our largest customer is PACCAR Inc. Worldwide sales to this customer were approximately $ 5.4 billion, $ 5.5 billion and $ 4.5 billion for the years ended December 31, 2024, 2023 and 2022, representing 16 percent, 16 percent and 16 percent, respectively, of our consolidated net sales. No other customer accounted for more than 10 percent of consolidated net sales. </context> | us-gaap:Revenues |
Our largest customer is PACCAR Inc. Worldwide sales to this customer were approximately $ 5.4 billion, $ 5.5 billion and $ 4.5 billion for the years ended December 31, 2024, 2023 and 2022, representing 16 percent, 16 percent and 16 percent, respectively, of our consolidated net sales. No other customer accounted for more than 10 percent of consolidated net sales. | text | 16 | percentItemType | text: <entity> 16 </entity> <entity type> percentItemType </entity type> <context> Our largest customer is PACCAR Inc. Worldwide sales to this customer were approximately $ 5.4 billion, $ 5.5 billion and $ 4.5 billion for the years ended December 31, 2024, 2023 and 2022, representing 16 percent, 16 percent and 16 percent, respectively, of our consolidated net sales. No other customer accounted for more than 10 percent of consolidated net sales. </context> | us-gaap:ConcentrationRiskPercentage1 |
The Company operates the loyalty program for the benefit of the Hyatt portfolio of properties during the period of their participation in the loyalty program. The Company's estimate of the value of the deferred revenue liability related to the loyalty program ("the liability") is $ 1,333 million as of December 31, 2024 and is actuarially determined based on the anticipated timing of future point redemptions, including an estimate of the breakage for points that will not be redeemed. Changes in the estimates used in the determination of the liability could result in a material change to the liability. | text | 1333 | monetaryItemType | text: <entity> 1333 </entity> <entity type> monetaryItemType </entity type> <context> The Company operates the loyalty program for the benefit of the Hyatt portfolio of properties during the period of their participation in the loyalty program. The Company's estimate of the value of the deferred revenue liability related to the loyalty program ("the liability") is $ 1,333 million as of December 31, 2024 and is actuarially determined based on the anticipated timing of future point redemptions, including an estimate of the breakage for points that will not be redeemed. Changes in the estimates used in the determination of the liability could result in a material change to the liability. </context> | us-gaap:ContractWithCustomerLiability |
The Company evaluates goodwill for impairment annually during the fourth quarter of each year. As a result of the impairment analyses, the Company determined that the carrying value of a reporting unit within the management and franchising segment ("the reporting unit") was in excess of the fair value and recognized $110 million of goodwill impairment charges. The Company's consolidated goodwill balance as of December 31, 2024 was $ 2,541 million, of which $1,116 million related to the reporting unit. | text | 2541 | monetaryItemType | text: <entity> 2541 </entity> <entity type> monetaryItemType </entity type> <context> The Company evaluates goodwill for impairment annually during the fourth quarter of each year. As a result of the impairment analyses, the Company determined that the carrying value of a reporting unit within the management and franchising segment ("the reporting unit") was in excess of the fair value and recognized $110 million of goodwill impairment charges. The Company's consolidated goodwill balance as of December 31, 2024 was $ 2,541 million, of which $1,116 million related to the reporting unit. </context> | us-gaap:Goodwill |
Hyatt Hotels Corporation, a Delaware corporation, and its consolidated subsidiaries have offerings that consist of full service hotels and resorts, select service hotels, all-inclusive resorts, and other properties, including timeshare, fractional, and other forms of residential and vacation units. We also offer distribution and destination management services through ALG Vacations and distribution services through Mr & Mrs Smith, a boutique and luxury global travel platform. At December 31, 2024, our hotel portfolio included 1,442 hotels, comprising 347,301 rooms throughout the world, of which 721 hotels are located in the United States, comprising 159,829 rooms, and 149 are all-inclusive resorts, comprising 55,708 rooms. At December 31, 2024, our portfolio of properties operated in 79 countries around the world. Additionally, we provide certain reservation and/or loyalty program services to hotels that are unaffiliated with our hotel portfolio and operate under other trade names or marks owned by such hotels or licensed by third parties. | text | 79 | integerItemType | text: <entity> 79 </entity> <entity type> integerItemType </entity type> <context> Hyatt Hotels Corporation, a Delaware corporation, and its consolidated subsidiaries have offerings that consist of full service hotels and resorts, select service hotels, all-inclusive resorts, and other properties, including timeshare, fractional, and other forms of residential and vacation units. We also offer distribution and destination management services through ALG Vacations and distribution services through Mr & Mrs Smith, a boutique and luxury global travel platform. At December 31, 2024, our hotel portfolio included 1,442 hotels, comprising 347,301 rooms throughout the world, of which 721 hotels are located in the United States, comprising 159,829 rooms, and 149 are all-inclusive resorts, comprising 55,708 rooms. At December 31, 2024, our portfolio of properties operated in 79 countries around the world. Additionally, we provide certain reservation and/or loyalty program services to hotels that are unaffiliated with our hotel portfolio and operate under other trade names or marks owned by such hotels or licensed by third parties. </context> | us-gaap:NumberOfCountriesInWhichEntityOperates |
—Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> —Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. </context> | us-gaap:CapitalizedContractCostNet |
—Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. | text | 194 | monetaryItemType | text: <entity> 194 </entity> <entity type> monetaryItemType </entity type> <context> —Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. </context> | us-gaap:CapitalizedContractCostNet |
—Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> —Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. </context> | us-gaap:CapitalizedContractCostAmortization |
—Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> —Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. </context> | us-gaap:CapitalizedContractCostAmortization |
—Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> —Prior to the UVC Transaction (see Note 4), we incurred incremental costs to obtain membership contracts, primarily related to sales commissions. At December 31, 2023, we had $ 27 million of these deferred costs recorded in prepaids and other assets and $ 194 million recorded in other assets on our consolidated balance sheets. During the years ended December 31, 2024, December 31, 2023, and December 31, 2022, we recognized $ 4 million, $ 27 million, and $ 9 million, respectively, of amortization expense related to these deferred costs in other direct costs on our consolidated statements of income using the straight-line method over the same period as the associated revenues. </context> | us-gaap:CapitalizedContractCostAmortization |
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