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The Company performs periodic assessments utilizing customer demand, production requirements and historical usage rates to determine the existence of excess and obsolete inventory and records necessary provisions to reduce such inventories to the lower of cost or estimated net realizable value. Raw materials, work-in-process and finished goods are net of valuation reserves of $ 223 million and $ 190 million as of December 31, 2023 and 2022, respectively. | text | 223 | monetaryItemType | text: <entity> 223 </entity> <entity type> monetaryItemType </entity type> <context> The Company performs periodic assessments utilizing customer demand, production requirements and historical usage rates to determine the existence of excess and obsolete inventory and records necessary provisions to reduce such inventories to the lower of cost or estimated net realizable value. Raw materials, work-in-process and finished goods are net of valuation reserves of $ 223 million and $ 190 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:InventoryValuationReserves |
The Company performs periodic assessments utilizing customer demand, production requirements and historical usage rates to determine the existence of excess and obsolete inventory and records necessary provisions to reduce such inventories to the lower of cost or estimated net realizable value. Raw materials, work-in-process and finished goods are net of valuation reserves of $ 223 million and $ 190 million as of December 31, 2023 and 2022, respectively. | text | 190 | monetaryItemType | text: <entity> 190 </entity> <entity type> monetaryItemType </entity type> <context> The Company performs periodic assessments utilizing customer demand, production requirements and historical usage rates to determine the existence of excess and obsolete inventory and records necessary provisions to reduce such inventories to the lower of cost or estimated net realizable value. Raw materials, work-in-process and finished goods are net of valuation reserves of $ 223 million and $ 190 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:InventoryValuationReserves |
Certain entities use LIFO to determine the cost of inventory. If inventories that were valued using the LIFO method had been valued under the FIFO method, the net book value of the inventories would have been higher by $ 226 million and $ 199 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, approximately 35 % and 26 %, respectively, of all inventory utilized the LIFO method. | text | 226 | monetaryItemType | text: <entity> 226 </entity> <entity type> monetaryItemType </entity type> <context> Certain entities use LIFO to determine the cost of inventory. If inventories that were valued using the LIFO method had been valued under the FIFO method, the net book value of the inventories would have been higher by $ 226 million and $ 199 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, approximately 35 % and 26 %, respectively, of all inventory utilized the LIFO method. </context> | us-gaap:ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue |
Certain entities use LIFO to determine the cost of inventory. If inventories that were valued using the LIFO method had been valued under the FIFO method, the net book value of the inventories would have been higher by $ 226 million and $ 199 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, approximately 35 % and 26 %, respectively, of all inventory utilized the LIFO method. | text | 199 | monetaryItemType | text: <entity> 199 </entity> <entity type> monetaryItemType </entity type> <context> Certain entities use LIFO to determine the cost of inventory. If inventories that were valued using the LIFO method had been valued under the FIFO method, the net book value of the inventories would have been higher by $ 226 million and $ 199 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, approximately 35 % and 26 %, respectively, of all inventory utilized the LIFO method. </context> | us-gaap:ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue |
Certain entities use LIFO to determine the cost of inventory. If inventories that were valued using the LIFO method had been valued under the FIFO method, the net book value of the inventories would have been higher by $ 226 million and $ 199 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, approximately 35 % and 26 %, respectively, of all inventory utilized the LIFO method. | text | 35 | percentItemType | text: <entity> 35 </entity> <entity type> percentItemType </entity type> <context> Certain entities use LIFO to determine the cost of inventory. If inventories that were valued using the LIFO method had been valued under the FIFO method, the net book value of the inventories would have been higher by $ 226 million and $ 199 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, approximately 35 % and 26 %, respectively, of all inventory utilized the LIFO method. </context> | us-gaap:PercentageOfLIFOInventory |
Certain entities use LIFO to determine the cost of inventory. If inventories that were valued using the LIFO method had been valued under the FIFO method, the net book value of the inventories would have been higher by $ 226 million and $ 199 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, approximately 35 % and 26 %, respectively, of all inventory utilized the LIFO method. | text | 26 | percentItemType | text: <entity> 26 </entity> <entity type> percentItemType </entity type> <context> Certain entities use LIFO to determine the cost of inventory. If inventories that were valued using the LIFO method had been valued under the FIFO method, the net book value of the inventories would have been higher by $ 226 million and $ 199 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, approximately 35 % and 26 %, respectively, of all inventory utilized the LIFO method. </context> | us-gaap:PercentageOfLIFOInventory |
Depreciation expense was $ 300 million, $ 256 million and $ 238 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 300 | monetaryItemType | text: <entity> 300 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense was $ 300 million, $ 256 million and $ 238 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:Depreciation |
Depreciation expense was $ 300 million, $ 256 million and $ 238 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 256 | monetaryItemType | text: <entity> 256 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense was $ 300 million, $ 256 million and $ 238 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:Depreciation |
Depreciation expense was $ 300 million, $ 256 million and $ 238 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 238 | monetaryItemType | text: <entity> 238 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense was $ 300 million, $ 256 million and $ 238 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:Depreciation |
Amortization of intangible assets was $ 242 million, $ 124 million and $ 98 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 242 | monetaryItemType | text: <entity> 242 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of intangible assets was $ 242 million, $ 124 million and $ 98 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization of intangible assets was $ 242 million, $ 124 million and $ 98 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 124 | monetaryItemType | text: <entity> 124 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of intangible assets was $ 242 million, $ 124 million and $ 98 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization of intangible assets was $ 242 million, $ 124 million and $ 98 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 98 | monetaryItemType | text: <entity> 98 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of intangible assets was $ 242 million, $ 124 million and $ 98 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:AmortizationOfIntangibleAssets |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentFaceAmount |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentFaceAmount |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 5.800 | percentItemType | text: <entity> 5.800 </entity> <entity type> percentItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 5.900 | percentItemType | text: <entity> 5.900 </entity> <entity type> percentItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 6.200 | percentItemType | text: <entity> 6.200 </entity> <entity type> percentItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 2.35 | monetaryItemType | text: <entity> 2.35 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentFaceAmount |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentFaceAmount |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 4.375 | percentItemType | text: <entity> 4.375 </entity> <entity type> percentItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 4.125 | percentItemType | text: <entity> 4.125 </entity> <entity type> percentItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 850 | monetaryItemType | text: <entity> 850 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentFaceAmount |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 4.500 | percentItemType | text: <entity> 4.500 </entity> <entity type> percentItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. | text | 51 | monetaryItemType | text: <entity> 51 </entity> <entity type> monetaryItemType </entity type> <context> In November 2023, the Company issued $ 3.0 billion principal amount of USD-denominated notes in three tranches. The tranches consist of $ 1.0 billion aggregate principal amount of 5.800 % notes due 2025, $ 1.0 billion aggregate principal amount of 5.900 % notes due 2034 and $ 1.0 billion aggregate principal amount of 6.200 % notes due 2054 (collectively, the “USD Notes”). In addition, the Company issued € 2.35 billion principal amount of Euro-denominated notes in three tranches. The tranches consist of € 750 million aggregate principal amount of 4.375 % notes due 2025, € 750 million aggregate principal amount of 4.125 % notes due 2028 and € 850 million aggregate principal amount of 4.500 % notes due 2032 (collectively, the “Euro Notes”). The Company capitalized $ 51 million of deferred financing costs which are being amortized over the term of their related notes. </context> | us-gaap:DeferredFinanceCostsGross |
On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. | text | 54 | monetaryItemType | text: <entity> 54 </entity> <entity type> monetaryItemType </entity type> <context> On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. </context> | us-gaap:DebtInstrumentFaceAmount |
On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. | text | 400 | monetaryItemType | text: <entity> 400 </entity> <entity type> monetaryItemType </entity type> <context> On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. </context> | us-gaap:DebtInstrumentFaceAmount |
On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. | text | 0.75 | percentItemType | text: <entity> 0.75 </entity> <entity type> percentItemType </entity type> <context> On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. </context> | us-gaap:DeferredFinanceCostsGross |
On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. | text | 54 | monetaryItemType | text: <entity> 54 </entity> <entity type> monetaryItemType </entity type> <context> On July 15, 2022, the Company entered into a five-year , JPY 54 billion (approximately $ 400 million) senior unsecured term loan facility with MUFG Bank Ltd., as administrative agent and lender, and certain other lenders (the "Japanese Term Loan Facility"). Borrowings under the Japanese Term Loan Facility bear interest at a rate equal to the Tokyo Term Risk Free Rate plus 0.75 %. In addition, the Japanese Term Loan Facility is subject to customary covenants including a covenant to maintain a maximum consolidated leverage ratio. The Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. On July 25, 2022, the Company borrowed JPY 54 billion under the Japanese Term Loan Facility and used the proceeds to fund a portion of the TCC acquisition and to pay related fees and expenses. </context> | us-gaap:ProceedsFromIssuanceOfDebt |
$ 2.0 billion pursuant to an unsecured, unsubordinated revolving credit facility that matures in May 2028 (the "Revolving Credit Facility"). The Revolving Credit Facility supports the Company's commercial paper program and can be used for other general corporate purposes. Borrowings are available in U.S. Dollars and Euros. U.S. Dollar borrowings can bear interest at either a Term SOFR Rate plus 0.10 % and a ratings-based margin or, alternatively, at an alternate base rate plus a ratings-based margin. Euro borrowings bear interest at an adjusted EURIBOR rate plus a ratings-based margin. A ratings-based commitment fee is charged on unused commitments. Upon entering into the agreement, the Company terminated its existing revolving credit facility that was set to mature in April 2025. In addition, the Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> $ 2.0 billion pursuant to an unsecured, unsubordinated revolving credit facility that matures in May 2028 (the "Revolving Credit Facility"). The Revolving Credit Facility supports the Company's commercial paper program and can be used for other general corporate purposes. Borrowings are available in U.S. Dollars and Euros. U.S. Dollar borrowings can bear interest at either a Term SOFR Rate plus 0.10 % and a ratings-based margin or, alternatively, at an alternate base rate plus a ratings-based margin. Euro borrowings bear interest at an adjusted EURIBOR rate plus a ratings-based margin. A ratings-based commitment fee is charged on unused commitments. Upon entering into the agreement, the Company terminated its existing revolving credit facility that was set to mature in April 2025. In addition, the Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
$ 2.0 billion pursuant to an unsecured, unsubordinated revolving credit facility that matures in May 2028 (the "Revolving Credit Facility"). The Revolving Credit Facility supports the Company's commercial paper program and can be used for other general corporate purposes. Borrowings are available in U.S. Dollars and Euros. U.S. Dollar borrowings can bear interest at either a Term SOFR Rate plus 0.10 % and a ratings-based margin or, alternatively, at an alternate base rate plus a ratings-based margin. Euro borrowings bear interest at an adjusted EURIBOR rate plus a ratings-based margin. A ratings-based commitment fee is charged on unused commitments. Upon entering into the agreement, the Company terminated its existing revolving credit facility that was set to mature in April 2025. In addition, the Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. | text | 0.10 | percentItemType | text: <entity> 0.10 </entity> <entity type> percentItemType </entity type> <context> $ 2.0 billion pursuant to an unsecured, unsubordinated revolving credit facility that matures in May 2028 (the "Revolving Credit Facility"). The Revolving Credit Facility supports the Company's commercial paper program and can be used for other general corporate purposes. Borrowings are available in U.S. Dollars and Euros. U.S. Dollar borrowings can bear interest at either a Term SOFR Rate plus 0.10 % and a ratings-based margin or, alternatively, at an alternate base rate plus a ratings-based margin. Euro borrowings bear interest at an adjusted EURIBOR rate plus a ratings-based margin. A ratings-based commitment fee is charged on unused commitments. Upon entering into the agreement, the Company terminated its existing revolving credit facility that was set to mature in April 2025. In addition, the Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
$ 2.0 billion pursuant to an unsecured, unsubordinated revolving credit facility that matures in May 2028 (the "Revolving Credit Facility"). The Revolving Credit Facility supports the Company's commercial paper program and can be used for other general corporate purposes. Borrowings are available in U.S. Dollars and Euros. U.S. Dollar borrowings can bear interest at either a Term SOFR Rate plus 0.10 % and a ratings-based margin or, alternatively, at an alternate base rate plus a ratings-based margin. Euro borrowings bear interest at an adjusted EURIBOR rate plus a ratings-based margin. A ratings-based commitment fee is charged on unused commitments. Upon entering into the agreement, the Company terminated its existing revolving credit facility that was set to mature in April 2025. In addition, the Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> $ 2.0 billion pursuant to an unsecured, unsubordinated revolving credit facility that matures in May 2028 (the "Revolving Credit Facility"). The Revolving Credit Facility supports the Company's commercial paper program and can be used for other general corporate purposes. Borrowings are available in U.S. Dollars and Euros. U.S. Dollar borrowings can bear interest at either a Term SOFR Rate plus 0.10 % and a ratings-based margin or, alternatively, at an alternate base rate plus a ratings-based margin. Euro borrowings bear interest at an adjusted EURIBOR rate plus a ratings-based margin. A ratings-based commitment fee is charged on unused commitments. Upon entering into the agreement, the Company terminated its existing revolving credit facility that was set to mature in April 2025. In addition, the Company capitalized $ 2 million of deferred financing costs which are being amortized over the term of the facility. </context> | us-gaap:DeferredFinanceCostsGross |
December 31, 2023, there were no borrowings outstanding under the Revolving Credit Facility. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> December 31, 2023, there were no borrowings outstanding under the Revolving Credit Facility. </context> | us-gaap:LongTermDebt |
The Company has a $ 2.0 billion unsecured, unsubordinated commercial paper program, which can be used for general corporate purposes, including the funding of working capital and potential acquisitions. As of December 31, 2023, there were no borrowings outstanding under the commercial paper program. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> The Company has a $ 2.0 billion unsecured, unsubordinated commercial paper program, which can be used for general corporate purposes, including the funding of working capital and potential acquisitions. As of December 31, 2023, there were no borrowings outstanding under the commercial paper program. </context> | us-gaap:ShortTermBorrowings |
The Company is involved in long-term construction contracts in which it arranges project financing with certain customers. As a result, the Company issued $ 39 million and $ 38 million of debt during the year ended December 31, 2023 and 2022, respectively. Long-term debt repayments associated with these financing arrangements for the years ended December 31, 2023 and 2022 were $ 111 million and $ 160 million, respectively. | text | 39 | monetaryItemType | text: <entity> 39 </entity> <entity type> monetaryItemType </entity type> <context> The Company is involved in long-term construction contracts in which it arranges project financing with certain customers. As a result, the Company issued $ 39 million and $ 38 million of debt during the year ended December 31, 2023 and 2022, respectively. Long-term debt repayments associated with these financing arrangements for the years ended December 31, 2023 and 2022 were $ 111 million and $ 160 million, respectively. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
The Company is involved in long-term construction contracts in which it arranges project financing with certain customers. As a result, the Company issued $ 39 million and $ 38 million of debt during the year ended December 31, 2023 and 2022, respectively. Long-term debt repayments associated with these financing arrangements for the years ended December 31, 2023 and 2022 were $ 111 million and $ 160 million, respectively. | text | 38 | monetaryItemType | text: <entity> 38 </entity> <entity type> monetaryItemType </entity type> <context> The Company is involved in long-term construction contracts in which it arranges project financing with certain customers. As a result, the Company issued $ 39 million and $ 38 million of debt during the year ended December 31, 2023 and 2022, respectively. Long-term debt repayments associated with these financing arrangements for the years ended December 31, 2023 and 2022 were $ 111 million and $ 160 million, respectively. </context> | us-gaap:ProceedsFromIssuanceOfLongTermDebt |
The Company is involved in long-term construction contracts in which it arranges project financing with certain customers. As a result, the Company issued $ 39 million and $ 38 million of debt during the year ended December 31, 2023 and 2022, respectively. Long-term debt repayments associated with these financing arrangements for the years ended December 31, 2023 and 2022 were $ 111 million and $ 160 million, respectively. | text | 111 | monetaryItemType | text: <entity> 111 </entity> <entity type> monetaryItemType </entity type> <context> The Company is involved in long-term construction contracts in which it arranges project financing with certain customers. As a result, the Company issued $ 39 million and $ 38 million of debt during the year ended December 31, 2023 and 2022, respectively. Long-term debt repayments associated with these financing arrangements for the years ended December 31, 2023 and 2022 were $ 111 million and $ 160 million, respectively. </context> | us-gaap:RepaymentsOfLongTermDebt |
The Company is involved in long-term construction contracts in which it arranges project financing with certain customers. As a result, the Company issued $ 39 million and $ 38 million of debt during the year ended December 31, 2023 and 2022, respectively. Long-term debt repayments associated with these financing arrangements for the years ended December 31, 2023 and 2022 were $ 111 million and $ 160 million, respectively. | text | 160 | monetaryItemType | text: <entity> 160 </entity> <entity type> monetaryItemType </entity type> <context> The Company is involved in long-term construction contracts in which it arranges project financing with certain customers. As a result, the Company issued $ 39 million and $ 38 million of debt during the year ended December 31, 2023 and 2022, respectively. Long-term debt repayments associated with these financing arrangements for the years ended December 31, 2023 and 2022 were $ 111 million and $ 160 million, respectively. </context> | us-gaap:RepaymentsOfLongTermDebt |
On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within | text | 1.15 | monetaryItemType | text: <entity> 1.15 </entity> <entity type> monetaryItemType </entity type> <context> On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within </context> | us-gaap:DebtInstrumentFaceAmount |
On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within | text | 2.242 | percentItemType | text: <entity> 2.242 </entity> <entity type> percentItemType </entity type> <context> On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within | text | 2.493 | percentItemType | text: <entity> 2.493 </entity> <entity type> percentItemType </entity type> <context> On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within | text | 350 | monetaryItemType | text: <entity> 350 </entity> <entity type> monetaryItemType </entity type> <context> On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within </context> | us-gaap:DebtInstrumentFaceAmount |
On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within </context> | us-gaap:GainsLossesOnExtinguishmentOfDebtBeforeWriteOffOfDeferredDebtIssuanceCost |
On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> On March 15, 2022, the Company commenced tender offers to purchase up to $ 1.15 billion ("Aggregate Tender Cap") aggregate principal of the Company's 2.242 % Notes due 2025 and 2.493 % Notes due 2027 (together, the "Senior Notes"). The tender offers included payment of applicable accrued and unpaid interest up to the settlement date, along with a fixed spread for early repayment. Based on participation, the Company elected to settle the tender offers on March 30, 2022. The aggregate principal amount of Senior Notes validly tendered and accepted was approximately $ 1.15 billion, which included $ 800 million of Notes due 2025 and $ 350 million of Notes due 2027. As a result, the Company recognized a net gain of $ 33 million and wrote off $ 5 million of unamortized deferred financing costs within </context> | us-gaap:WriteOffOfDeferredDebtIssuanceCost |
In connection with the acquisition of the VCS Business, the Company entered into window forward contracts with Bank of America N.A. and JPMorgan Chase Bank N.A. to mitigate the foreign currency risk of the expected cash outflows associated with the Euro-denominated purchase price. The instruments have an aggregate notional amount of € 7 billion and are measured at fair value on a recurring basis using observable market inputs, such as forward, discount and interest rates with changes in fair value reported in | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the acquisition of the VCS Business, the Company entered into window forward contracts with Bank of America N.A. and JPMorgan Chase Bank N.A. to mitigate the foreign currency risk of the expected cash outflows associated with the Euro-denominated purchase price. The instruments have an aggregate notional amount of € 7 billion and are measured at fair value on a recurring basis using observable market inputs, such as forward, discount and interest rates with changes in fair value reported in </context> | us-gaap:DerivativeNotionalAmount |
in the accompanying Consolidated Statement of Operations. During the year ended December 31, 2023, the Company recognized a $ 96 million loss on the mark-to-market valuation of its window forward contracts. The Company settled the window forward contracts on January 2, 2024 upon the acquisition of the VCS Business. | text | 96 | monetaryItemType | text: <entity> 96 </entity> <entity type> monetaryItemType </entity type> <context> in the accompanying Consolidated Statement of Operations. During the year ended December 31, 2023, the Company recognized a $ 96 million loss on the mark-to-market valuation of its window forward contracts. The Company settled the window forward contracts on January 2, 2024 upon the acquisition of the VCS Business. </context> | us-gaap:LossOnDerivativeInstrumentsPretax |
During 2023, the Company entered into several interest rate swap contracts to mitigate interest rate exposure on the forecasted issuance of long-term debt. The contracts had an aggregate notional amount of $ 1.525 billion and were designated as cash flow hedges with changes in fair value reported in | text | 1.525 | monetaryItemType | text: <entity> 1.525 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, the Company entered into several interest rate swap contracts to mitigate interest rate exposure on the forecasted issuance of long-term debt. The contracts had an aggregate notional amount of $ 1.525 billion and were designated as cash flow hedges with changes in fair value reported in </context> | us-gaap:DerivativeNotionalAmount |
in the accompanying Consolidated Balance Sheet. Fair value was measured on a recurring basis using observable market inputs, such as forward, discount and interest rates. In November 2023, the contracts were settled upon the issuance of the underlying debt. As a result, the Company deferred a net unrecognized gain of $ 58 million in | text | 58 | monetaryItemType | text: <entity> 58 </entity> <entity type> monetaryItemType </entity type> <context> in the accompanying Consolidated Balance Sheet. Fair value was measured on a recurring basis using observable market inputs, such as forward, discount and interest rates. In November 2023, the contracts were settled upon the issuance of the underlying debt. As a result, the Company deferred a net unrecognized gain of $ 58 million in </context> | us-gaap:GainOnDerivativeInstrumentsPretax |
over the term of the related notes which range from 2034 to 2044. The amount expected to be amortized over the next twelve months is a net gain of $ 3 million. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> over the term of the related notes which range from 2034 to 2044. The amount expected to be amortized over the next twelve months is a net gain of $ 3 million. </context> | us-gaap:InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet |
The accumulated benefit obligation for all defined benefit plans was $ 0.6 billion and $ 0.7 billion as of December 31, 2023 and 2022, respectively. | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> The accumulated benefit obligation for all defined benefit plans was $ 0.6 billion and $ 0.7 billion as of December 31, 2023 and 2022, respectively. </context> | us-gaap:DefinedBenefitPlanAccumulatedBenefitObligation |
The accumulated benefit obligation for all defined benefit plans was $ 0.6 billion and $ 0.7 billion as of December 31, 2023 and 2022, respectively. | text | 0.7 | monetaryItemType | text: <entity> 0.7 </entity> <entity type> monetaryItemType </entity type> <context> The accumulated benefit obligation for all defined benefit plans was $ 0.6 billion and $ 0.7 billion as of December 31, 2023 and 2022, respectively. </context> | us-gaap:DefinedBenefitPlanAccumulatedBenefitObligation |
For the years ended December 31, 2023, 2022 and 2021, the Company made $ 33 million, $ 16 million and $ 47 million, respectively, of cash contributions to its defined benefit pension plans. The Company expects to make total contributions of approximately $ 5 million to its defined benefit pension plans in 2024. | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2023, 2022 and 2021, the Company made $ 33 million, $ 16 million and $ 47 million, respectively, of cash contributions to its defined benefit pension plans. The Company expects to make total contributions of approximately $ 5 million to its defined benefit pension plans in 2024. </context> | us-gaap:DefinedContributionPlanCostRecognized |
For the years ended December 31, 2023, 2022 and 2021, the Company made $ 33 million, $ 16 million and $ 47 million, respectively, of cash contributions to its defined benefit pension plans. The Company expects to make total contributions of approximately $ 5 million to its defined benefit pension plans in 2024. | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2023, 2022 and 2021, the Company made $ 33 million, $ 16 million and $ 47 million, respectively, of cash contributions to its defined benefit pension plans. The Company expects to make total contributions of approximately $ 5 million to its defined benefit pension plans in 2024. </context> | us-gaap:DefinedContributionPlanCostRecognized |
For the years ended December 31, 2023, 2022 and 2021, the Company made $ 33 million, $ 16 million and $ 47 million, respectively, of cash contributions to its defined benefit pension plans. The Company expects to make total contributions of approximately $ 5 million to its defined benefit pension plans in 2024. | text | 47 | monetaryItemType | text: <entity> 47 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2023, 2022 and 2021, the Company made $ 33 million, $ 16 million and $ 47 million, respectively, of cash contributions to its defined benefit pension plans. The Company expects to make total contributions of approximately $ 5 million to its defined benefit pension plans in 2024. </context> | us-gaap:DefinedContributionPlanCostRecognized |
For the years ended December 31, 2023, 2022 and 2021, the Company made $ 33 million, $ 16 million and $ 47 million, respectively, of cash contributions to its defined benefit pension plans. The Company expects to make total contributions of approximately $ 5 million to its defined benefit pension plans in 2024. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2023, 2022 and 2021, the Company made $ 33 million, $ 16 million and $ 47 million, respectively, of cash contributions to its defined benefit pension plans. The Company expects to make total contributions of approximately $ 5 million to its defined benefit pension plans in 2024. </context> | us-gaap:DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear |
The Company's investment objective is to provide liquidity and asset levels needed to meet current and future benefit payments, while maintaining a prudent degree of portfolio diversification considering interest rate risk and market volatility. Globally, investment strategies target a mix of approximately 30 % of growth seeking assets and 70 % of income generating and hedging assets using a wide diversification of asset types, fund strategies and investment managers. | text | 30 | percentItemType | text: <entity> 30 </entity> <entity type> percentItemType </entity type> <context> The Company's investment objective is to provide liquidity and asset levels needed to meet current and future benefit payments, while maintaining a prudent degree of portfolio diversification considering interest rate risk and market volatility. Globally, investment strategies target a mix of approximately 30 % of growth seeking assets and 70 % of income generating and hedging assets using a wide diversification of asset types, fund strategies and investment managers. </context> | us-gaap:DefinedBenefitPlanPlanAssetsInvestmentWithinPlanAssetCategoryPercentage |
The Company's investment objective is to provide liquidity and asset levels needed to meet current and future benefit payments, while maintaining a prudent degree of portfolio diversification considering interest rate risk and market volatility. Globally, investment strategies target a mix of approximately 30 % of growth seeking assets and 70 % of income generating and hedging assets using a wide diversification of asset types, fund strategies and investment managers. | text | 70 | percentItemType | text: <entity> 70 </entity> <entity type> percentItemType </entity type> <context> The Company's investment objective is to provide liquidity and asset levels needed to meet current and future benefit payments, while maintaining a prudent degree of portfolio diversification considering interest rate risk and market volatility. Globally, investment strategies target a mix of approximately 30 % of growth seeking assets and 70 % of income generating and hedging assets using a wide diversification of asset types, fund strategies and investment managers. </context> | us-gaap:DefinedBenefitPlanPlanAssetsInvestmentWithinPlanAssetCategoryPercentage |
The Company contributes to various domestic and foreign multiemployer defined benefit pension plans. The risks of participating in these multiemployer plans are different from those of single-employer plans in that assets contributed are pooled and may be used to provide benefits to employees of other participating employers. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. The Company's contributions to these plans for the years ended December 31, 2023 and 2022 was $ 15 million and $ 15 million, respectively. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> The Company contributes to various domestic and foreign multiemployer defined benefit pension plans. The risks of participating in these multiemployer plans are different from those of single-employer plans in that assets contributed are pooled and may be used to provide benefits to employees of other participating employers. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. The Company's contributions to these plans for the years ended December 31, 2023 and 2022 was $ 15 million and $ 15 million, respectively. </context> | us-gaap:MultiemployerPlanEmployerContributionCost |
The Company sponsors various employee savings plans. Employer contributions are determined based on criteria specific to each plan and were $ 125 million, $ 123 million and $ 115 million for the year ended December 31, 2023, 2022 and 2021, respectively. | text | 125 | monetaryItemType | text: <entity> 125 </entity> <entity type> monetaryItemType </entity type> <context> The Company sponsors various employee savings plans. Employer contributions are determined based on criteria specific to each plan and were $ 125 million, $ 123 million and $ 115 million for the year ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
The Company sponsors various employee savings plans. Employer contributions are determined based on criteria specific to each plan and were $ 125 million, $ 123 million and $ 115 million for the year ended December 31, 2023, 2022 and 2021, respectively. | text | 123 | monetaryItemType | text: <entity> 123 </entity> <entity type> monetaryItemType </entity type> <context> The Company sponsors various employee savings plans. Employer contributions are determined based on criteria specific to each plan and were $ 125 million, $ 123 million and $ 115 million for the year ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
The Company sponsors various employee savings plans. Employer contributions are determined based on criteria specific to each plan and were $ 125 million, $ 123 million and $ 115 million for the year ended December 31, 2023, 2022 and 2021, respectively. | text | 115 | monetaryItemType | text: <entity> 115 </entity> <entity type> monetaryItemType </entity type> <context> The Company sponsors various employee savings plans. Employer contributions are determined based on criteria specific to each plan and were $ 125 million, $ 123 million and $ 115 million for the year ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $ 0.01 par value. As of December 31, 2023 and December 31, 2022, 883,068,393 and 876,487,480 shares of common stock were issued, respectively, which includes 43,490,981 and 42,103,995 shares of treasury stock, respectively. | text | 883068393 | sharesItemType | text: <entity> 883068393 </entity> <entity type> sharesItemType </entity type> <context> The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $ 0.01 par value. As of December 31, 2023 and December 31, 2022, 883,068,393 and 876,487,480 shares of common stock were issued, respectively, which includes 43,490,981 and 42,103,995 shares of treasury stock, respectively. </context> | us-gaap:CommonStockSharesIssued |
The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $ 0.01 par value. As of December 31, 2023 and December 31, 2022, 883,068,393 and 876,487,480 shares of common stock were issued, respectively, which includes 43,490,981 and 42,103,995 shares of treasury stock, respectively. | text | 876487480 | sharesItemType | text: <entity> 876487480 </entity> <entity type> sharesItemType </entity type> <context> The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $ 0.01 par value. As of December 31, 2023 and December 31, 2022, 883,068,393 and 876,487,480 shares of common stock were issued, respectively, which includes 43,490,981 and 42,103,995 shares of treasury stock, respectively. </context> | us-gaap:CommonStockSharesIssued |
The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $ 0.01 par value. As of December 31, 2023 and December 31, 2022, 883,068,393 and 876,487,480 shares of common stock were issued, respectively, which includes 43,490,981 and 42,103,995 shares of treasury stock, respectively. | text | 43490981 | sharesItemType | text: <entity> 43490981 </entity> <entity type> sharesItemType </entity type> <context> The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $ 0.01 par value. As of December 31, 2023 and December 31, 2022, 883,068,393 and 876,487,480 shares of common stock were issued, respectively, which includes 43,490,981 and 42,103,995 shares of treasury stock, respectively. </context> | us-gaap:CommonStockSharesIssued |
The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $ 0.01 par value. As of December 31, 2023 and December 31, 2022, 883,068,393 and 876,487,480 shares of common stock were issued, respectively, which includes 43,490,981 and 42,103,995 shares of treasury stock, respectively. | text | 42103995 | sharesItemType | text: <entity> 42103995 </entity> <entity type> sharesItemType </entity type> <context> The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $ 0.01 par value. As of December 31, 2023 and December 31, 2022, 883,068,393 and 876,487,480 shares of common stock were issued, respectively, which includes 43,490,981 and 42,103,995 shares of treasury stock, respectively. </context> | us-gaap:CommonStockSharesIssued |
. Since the initial authorization in February 2021, the Company's Board of Directors authorized the repurchase of up to $ 4.1 billion of the Company's outstanding common stock. | text | 4.1 | monetaryItemType | text: <entity> 4.1 </entity> <entity type> monetaryItemType </entity type> <context> . Since the initial authorization in February 2021, the Company's Board of Directors authorized the repurchase of up to $ 4.1 billion of the Company's outstanding common stock. </context> | us-gaap:StockRepurchaseProgramAuthorizedAmount1 |
As of December 31, 2023, the Company repurchased 43.5 million shares of common stock for an aggregate purchase price of $ 2.0 billion, which includes shares repurchased under an accelerated share repurchase agreement. As a result, the Company has approximately $ 2.1 billion remaining under the current authorization at December 31, 2023. Upon announcement of the proposed acquisition of the VCS Business, the Company temporarily paused its share repurchase program in order to advance its capital allocation strategy. As a result, there is no share repurchase activity to report for the fourth quarter of 2023. | text | 43.5 | sharesItemType | text: <entity> 43.5 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2023, the Company repurchased 43.5 million shares of common stock for an aggregate purchase price of $ 2.0 billion, which includes shares repurchased under an accelerated share repurchase agreement. As a result, the Company has approximately $ 2.1 billion remaining under the current authorization at December 31, 2023. Upon announcement of the proposed acquisition of the VCS Business, the Company temporarily paused its share repurchase program in order to advance its capital allocation strategy. As a result, there is no share repurchase activity to report for the fourth quarter of 2023. </context> | us-gaap:TreasuryStockSharesAcquired |
As of December 31, 2023, the Company repurchased 43.5 million shares of common stock for an aggregate purchase price of $ 2.0 billion, which includes shares repurchased under an accelerated share repurchase agreement. As a result, the Company has approximately $ 2.1 billion remaining under the current authorization at December 31, 2023. Upon announcement of the proposed acquisition of the VCS Business, the Company temporarily paused its share repurchase program in order to advance its capital allocation strategy. As a result, there is no share repurchase activity to report for the fourth quarter of 2023. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, the Company repurchased 43.5 million shares of common stock for an aggregate purchase price of $ 2.0 billion, which includes shares repurchased under an accelerated share repurchase agreement. As a result, the Company has approximately $ 2.1 billion remaining under the current authorization at December 31, 2023. Upon announcement of the proposed acquisition of the VCS Business, the Company temporarily paused its share repurchase program in order to advance its capital allocation strategy. As a result, there is no share repurchase activity to report for the fourth quarter of 2023. </context> | us-gaap:TreasuryStockValueAcquiredCostMethod |
As of December 31, 2023, the Company repurchased 43.5 million shares of common stock for an aggregate purchase price of $ 2.0 billion, which includes shares repurchased under an accelerated share repurchase agreement. As a result, the Company has approximately $ 2.1 billion remaining under the current authorization at December 31, 2023. Upon announcement of the proposed acquisition of the VCS Business, the Company temporarily paused its share repurchase program in order to advance its capital allocation strategy. As a result, there is no share repurchase activity to report for the fourth quarter of 2023. | text | 2.1 | monetaryItemType | text: <entity> 2.1 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, the Company repurchased 43.5 million shares of common stock for an aggregate purchase price of $ 2.0 billion, which includes shares repurchased under an accelerated share repurchase agreement. As a result, the Company has approximately $ 2.1 billion remaining under the current authorization at December 31, 2023. Upon announcement of the proposed acquisition of the VCS Business, the Company temporarily paused its share repurchase program in order to advance its capital allocation strategy. As a result, there is no share repurchase activity to report for the fourth quarter of 2023. </context> | us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1 |
The Company recognized revenue of $ 347 million for the year ended December 31, 2023 that was related to contract liabilities as of January 1, 2023. The Company expects a majority of its contract liabilities at the end of the period to be recognized as revenue over the next 12 months. There were no individually significant customers with sales exceeding 10% of total sales for the years ended December 31, 2023, 2022 and 2021. | text | 347 | monetaryItemType | text: <entity> 347 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized revenue of $ 347 million for the year ended December 31, 2023 that was related to contract liabilities as of January 1, 2023. The Company expects a majority of its contract liabilities at the end of the period to be recognized as revenue over the next 12 months. There were no individually significant customers with sales exceeding 10% of total sales for the years ended December 31, 2023, 2022 and 2021. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
As of December 31, 2023 and 2022, there were $ 76 million and $ 64 million of unrecognized stock-based compensation costs related to non-vested awards granted under the plan, respectively, which will be recognized ratably over the awards weighted-average remaining vesting period of 2 years. | text | 76 | monetaryItemType | text: <entity> 76 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, there were $ 76 million and $ 64 million of unrecognized stock-based compensation costs related to non-vested awards granted under the plan, respectively, which will be recognized ratably over the awards weighted-average remaining vesting period of 2 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
As of December 31, 2023 and 2022, there were $ 76 million and $ 64 million of unrecognized stock-based compensation costs related to non-vested awards granted under the plan, respectively, which will be recognized ratably over the awards weighted-average remaining vesting period of 2 years. | text | 64 | monetaryItemType | text: <entity> 64 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, there were $ 76 million and $ 64 million of unrecognized stock-based compensation costs related to non-vested awards granted under the plan, respectively, which will be recognized ratably over the awards weighted-average remaining vesting period of 2 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
As of December 31, 2023, the Company had $ 55 million accrued for costs associated with its announced restructuring initiatives. The balance relates to cost reduction efforts, primarily severance, across each of the Company's segments. In addition, reserves associated with the Company's planned portfolio transformation were established during the year, all of which are expected to be paid within 12 months. | text | 55 | monetaryItemType | text: <entity> 55 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, the Company had $ 55 million accrued for costs associated with its announced restructuring initiatives. The balance relates to cost reduction efforts, primarily severance, across each of the Company's segments. In addition, reserves associated with the Company's planned portfolio transformation were established during the year, all of which are expected to be paid within 12 months. </context> | us-gaap:RestructuringReserve |
In connection with the proposed acquisition of the VCS Business, the Company recognized a $ 96 million loss during the year ended December 31, 2023 on the mark-to-market valuation of our window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price. In addition, the Company recognized a loss of $ 297 million on the deconsolidation of KFI due to its Chapter 11 filing. | text | 96 | monetaryItemType | text: <entity> 96 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the proposed acquisition of the VCS Business, the Company recognized a $ 96 million loss during the year ended December 31, 2023 on the mark-to-market valuation of our window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price. In addition, the Company recognized a loss of $ 297 million on the deconsolidation of KFI due to its Chapter 11 filing. </context> | us-gaap:LossOnDerivativeInstrumentsPretax |
In connection with the proposed acquisition of the VCS Business, the Company recognized a $ 96 million loss during the year ended December 31, 2023 on the mark-to-market valuation of our window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price. In addition, the Company recognized a loss of $ 297 million on the deconsolidation of KFI due to its Chapter 11 filing. | text | 297 | monetaryItemType | text: <entity> 297 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the proposed acquisition of the VCS Business, the Company recognized a $ 96 million loss during the year ended December 31, 2023 on the mark-to-market valuation of our window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price. In addition, the Company recognized a loss of $ 297 million on the deconsolidation of KFI due to its Chapter 11 filing. </context> | us-gaap:DeconsolidationGainOrLossAmount |
In connection with the TCC acquisition, the carrying value of the Company's previously held TCC equity investments were recognized at fair value at the date of acquisition. As a result, the Company recognized a $ 697 million non-cash gain associated with the increase in our ownership interest. In addition, the Company completed the Chubb Sale and recognized a net gain on the sale of $ 1.1 billion during the twelve months ended December 31, 2022. | text | 697 | monetaryItemType | text: <entity> 697 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the TCC acquisition, the carrying value of the Company's previously held TCC equity investments were recognized at fair value at the date of acquisition. As a result, the Company recognized a $ 697 million non-cash gain associated with the increase in our ownership interest. In addition, the Company completed the Chubb Sale and recognized a net gain on the sale of $ 1.1 billion during the twelve months ended December 31, 2022. </context> | us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain |
In connection with the TCC acquisition, the carrying value of the Company's previously held TCC equity investments were recognized at fair value at the date of acquisition. As a result, the Company recognized a $ 697 million non-cash gain associated with the increase in our ownership interest. In addition, the Company completed the Chubb Sale and recognized a net gain on the sale of $ 1.1 billion during the twelve months ended December 31, 2022. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the TCC acquisition, the carrying value of the Company's previously held TCC equity investments were recognized at fair value at the date of acquisition. As a result, the Company recognized a $ 697 million non-cash gain associated with the increase in our ownership interest. In addition, the Company completed the Chubb Sale and recognized a net gain on the sale of $ 1.1 billion during the twelve months ended December 31, 2022. </context> | us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. | text | 90 | monetaryItemType | text: <entity> 90 </entity> <entity type> monetaryItemType </entity type> <context> The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. </context> | us-gaap:IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges |
The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. | text | 65 | monetaryItemType | text: <entity> 65 </entity> <entity type> monetaryItemType </entity type> <context> The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. </context> | us-gaap:IncomeTaxReconciliationChangeInEnactedTaxRate |
The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. </context> | us-gaap:IncomeTaxReconciliationRepatriationOfForeignEarnings |
The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. | text | 96 | monetaryItemType | text: <entity> 96 </entity> <entity type> monetaryItemType </entity type> <context> The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. </context> | us-gaap:LossOnDerivativeInstrumentsPretax |
The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. | text | 49 | monetaryItemType | text: <entity> 49 </entity> <entity type> monetaryItemType </entity type> <context> The effective tax rate for the year ended December 31, 2023 was higher than the Company's statutory U.S. federal income tax rate. The increase was primarily driven by a net tax charge of $ 90 million relating to the re-organization and disentanglement of CCR and certain Fire & Security industrial businesses in advance of the planned divestitures and a deferred tax charge of $ 65 million related to basis differences in certain companies presented as held-for-sale. In addition, the effective tax rate was impacted by the recognition of a deferred tax liability for withholding tax of $ 33 million on repatriated foreign earnings, non-deductible divestiture-related costs and a non-deductible loss of $ 96 million on the mark-to-market valuation of the Company's window forward contracts associated with the expected cash outflows of the Euro-denominated purchase price of the VCS Business. The unfavorable impact of the above items is partially offset by a $ 53 million tax benefit recorded from the announced KFI bankruptcy and deconsolidation and $ 49 million of foreign tax credits generated and utilized in 2023. </context> | us-gaap:IncomeTaxReconciliationTaxCreditsForeign |
The effective tax rate for the year ended December 31, 2022 was lower than the Company's statutory U.S. federal income tax rate. The decrease was driven by a lower effective tax rate on the $ 705 million | text | 705 | monetaryItemType | text: <entity> 705 </entity> <entity type> monetaryItemType </entity type> <context> The effective tax rate for the year ended December 31, 2022 was lower than the Company's statutory U.S. federal income tax rate. The decrease was driven by a lower effective tax rate on the $ 705 million </context> | us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss |
the $ 1.1 billion Chubb gain and $ 45 million of foreign tax credits generated and utilized in the current year. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> the $ 1.1 billion Chubb gain and $ 45 million of foreign tax credits generated and utilized in the current year. </context> | us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
the $ 1.1 billion Chubb gain and $ 45 million of foreign tax credits generated and utilized in the current year. | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> the $ 1.1 billion Chubb gain and $ 45 million of foreign tax credits generated and utilized in the current year. </context> | us-gaap:IncomeTaxReconciliationTaxCreditsForeign |
The effective tax rate for the year ended December 31, 2021 was higher than the Company's statutory U.S. federal income tax rate. The increase was driven by a net tax charge of $ 157 million primarily relating to the re-organization and disentanglement of certain Chubb subsidiaries executed in advance of the planned divestiture of the Chubb business and a $ 43 million deferred tax charge associated with a tax rate increase in the United Kingdom enacted on June 10, 2021 with an effective date of April 2023. These amounts were partially offset by the recognition of a favorable tax adjustment of $ 70 million due to foreign tax credits generated and expected to be utilized in the current year and $ 21 million resulting from the re-organization of a German subsidiary. | text | 157 | monetaryItemType | text: <entity> 157 </entity> <entity type> monetaryItemType </entity type> <context> The effective tax rate for the year ended December 31, 2021 was higher than the Company's statutory U.S. federal income tax rate. The increase was driven by a net tax charge of $ 157 million primarily relating to the re-organization and disentanglement of certain Chubb subsidiaries executed in advance of the planned divestiture of the Chubb business and a $ 43 million deferred tax charge associated with a tax rate increase in the United Kingdom enacted on June 10, 2021 with an effective date of April 2023. These amounts were partially offset by the recognition of a favorable tax adjustment of $ 70 million due to foreign tax credits generated and expected to be utilized in the current year and $ 21 million resulting from the re-organization of a German subsidiary. </context> | us-gaap:IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges |
The effective tax rate for the year ended December 31, 2021 was higher than the Company's statutory U.S. federal income tax rate. The increase was driven by a net tax charge of $ 157 million primarily relating to the re-organization and disentanglement of certain Chubb subsidiaries executed in advance of the planned divestiture of the Chubb business and a $ 43 million deferred tax charge associated with a tax rate increase in the United Kingdom enacted on June 10, 2021 with an effective date of April 2023. These amounts were partially offset by the recognition of a favorable tax adjustment of $ 70 million due to foreign tax credits generated and expected to be utilized in the current year and $ 21 million resulting from the re-organization of a German subsidiary. | text | 43 | monetaryItemType | text: <entity> 43 </entity> <entity type> monetaryItemType </entity type> <context> The effective tax rate for the year ended December 31, 2021 was higher than the Company's statutory U.S. federal income tax rate. The increase was driven by a net tax charge of $ 157 million primarily relating to the re-organization and disentanglement of certain Chubb subsidiaries executed in advance of the planned divestiture of the Chubb business and a $ 43 million deferred tax charge associated with a tax rate increase in the United Kingdom enacted on June 10, 2021 with an effective date of April 2023. These amounts were partially offset by the recognition of a favorable tax adjustment of $ 70 million due to foreign tax credits generated and expected to be utilized in the current year and $ 21 million resulting from the re-organization of a German subsidiary. </context> | us-gaap:IncomeTaxReconciliationChangeInEnactedTaxRate |
Valuation allowances have been established primarily for tax credit carryforwards, tax loss carryforwards and certain foreign temporary differences to reduce future income tax benefits to expected realizable amounts. As of December 31, 2023, future income tax benefits and future income tax payables exclude a net liability of $ 9 million classified as held for sale. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> Valuation allowances have been established primarily for tax credit carryforwards, tax loss carryforwards and certain foreign temporary differences to reduce future income tax benefits to expected realizable amounts. As of December 31, 2023, future income tax benefits and future income tax payables exclude a net liability of $ 9 million classified as held for sale. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationDeferredTaxLiabilities |
In conjunction with the announced portfolio transformation, the Company is implementing changes to its corporate structure, including intra-entity transfers of certain intellectual property to a subsidiary in Switzerland. During 2024, the Company will begin transferring certain intellectual property from wholly-owned legal entities to the Swiss subsidiary. During the three months ended December 31, 2023, the Company’s Swiss subsidiary was granted a tax credit of approximately $ 1.3 billion that is immediately available to offset cantonal income tax liability over a ten-year period. As the Company is in the preliminary stages of the reorganization, a full valuation allowance was recorded against this tax credit. As operations in the Swiss subsidiary expand in future years it will be necessary to reassess the estimated realizable tax benefit associated with the tax credit. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> In conjunction with the announced portfolio transformation, the Company is implementing changes to its corporate structure, including intra-entity transfers of certain intellectual property to a subsidiary in Switzerland. During 2024, the Company will begin transferring certain intellectual property from wholly-owned legal entities to the Swiss subsidiary. During the three months ended December 31, 2023, the Company’s Swiss subsidiary was granted a tax credit of approximately $ 1.3 billion that is immediately available to offset cantonal income tax liability over a ten-year period. As the Company is in the preliminary stages of the reorganization, a full valuation allowance was recorded against this tax credit. As operations in the Swiss subsidiary expand in future years it will be necessary to reassess the estimated realizable tax benefit associated with the tax credit. </context> | us-gaap:TaxCreditCarryforwardAmount |
As of December 31, 2023, the Company had unrecognized tax benefits of $ 382 million, all of which, if recognized, would impact its effective tax rate. A reconciliation of the beginning and ending amounts of unrecognized tax benefits and related interest expense is as follows: | text | 382 | monetaryItemType | text: <entity> 382 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, the Company had unrecognized tax benefits of $ 382 million, all of which, if recognized, would impact its effective tax rate. A reconciliation of the beginning and ending amounts of unrecognized tax benefits and related interest expense is as follows: </context> | us-gaap:UnrecognizedTaxBenefits |
In the ordinary course of business, there is inherent uncertainty in quantifying the Company's income tax positions. The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting date. The Company believes that it is reasonably possible that a net decrease in unrecognized tax benefits of $ 60 million to $ 80 million may occur within 12 months as a result of additional uncertain tax positions, the revaluation of uncertain tax positions arising from examinations, appeals, court decisions or the closure of tax statutes. | text | 60 | monetaryItemType | text: <entity> 60 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, there is inherent uncertainty in quantifying the Company's income tax positions. The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting date. The Company believes that it is reasonably possible that a net decrease in unrecognized tax benefits of $ 60 million to $ 80 million may occur within 12 months as a result of additional uncertain tax positions, the revaluation of uncertain tax positions arising from examinations, appeals, court decisions or the closure of tax statutes. </context> | us-gaap:DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible |
In the ordinary course of business, there is inherent uncertainty in quantifying the Company's income tax positions. The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting date. The Company believes that it is reasonably possible that a net decrease in unrecognized tax benefits of $ 60 million to $ 80 million may occur within 12 months as a result of additional uncertain tax positions, the revaluation of uncertain tax positions arising from examinations, appeals, court decisions or the closure of tax statutes. | text | 80 | monetaryItemType | text: <entity> 80 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, there is inherent uncertainty in quantifying the Company's income tax positions. The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting date. The Company believes that it is reasonably possible that a net decrease in unrecognized tax benefits of $ 60 million to $ 80 million may occur within 12 months as a result of additional uncertain tax positions, the revaluation of uncertain tax positions arising from examinations, appeals, court decisions or the closure of tax statutes. </context> | us-gaap:DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible |
As a result of the Tax Cuts and Jobs Act ("TCJA"), the Company no longer intends to reinvest certain undistributed earnings of its international subsidiaries that have been previously taxed in the U.S. As such, the Company has recorded tax liabilities associated with the future remittance of these earnings. For the remainder of the Company's undistributed international earnings, unless it becomes tax effective to repatriate, the Company intends to continue to permanently reinvest these earnings. As of December 31, 2023, such undistributed earnings were approximately $ 10 billion, excluding other comprehensive income amounts. It is not practicable to estimate the amount of tax that might be payable on the remaining amounts. In addition, the TCJA subjects the Company to a tax on global intangible low-taxed income ("GILTI"). GILTI is a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations which the Company has elected to account for as a period cost. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> As a result of the Tax Cuts and Jobs Act ("TCJA"), the Company no longer intends to reinvest certain undistributed earnings of its international subsidiaries that have been previously taxed in the U.S. As such, the Company has recorded tax liabilities associated with the future remittance of these earnings. For the remainder of the Company's undistributed international earnings, unless it becomes tax effective to repatriate, the Company intends to continue to permanently reinvest these earnings. As of December 31, 2023, such undistributed earnings were approximately $ 10 billion, excluding other comprehensive income amounts. It is not practicable to estimate the amount of tax that might be payable on the remaining amounts. In addition, the TCJA subjects the Company to a tax on global intangible low-taxed income ("GILTI"). GILTI is a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations which the Company has elected to account for as a period cost. </context> | us-gaap:UndistributedEarningsOfForeignSubsidiaries |
During the year ended December 31, 2023, the Company acquired consolidated and minority-owned businesses. The aggregate cash paid, net of cash acquired, totaled $ 84 million. Acquisitions are recorded using the acquisition method of accounting in accordance with ASC 805. As a result, the aggregate purchase price has been allocated to assets acquired and liabilities assumed based on the estimate of fair market value of such assets and liabilities at the date of acquisition. The excess purchase price over the estimated fair value of net assets acquired is recognized as goodwill. | text | 84 | monetaryItemType | text: <entity> 84 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, the Company acquired consolidated and minority-owned businesses. The aggregate cash paid, net of cash acquired, totaled $ 84 million. Acquisitions are recorded using the acquisition method of accounting in accordance with ASC 805. As a result, the aggregate purchase price has been allocated to assets acquired and liabilities assumed based on the estimate of fair market value of such assets and liabilities at the date of acquisition. The excess purchase price over the estimated fair value of net assets acquired is recognized as goodwill. </context> | us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired |
On February 6, 2022, the Company entered into a binding agreement to acquire a majority ownership interest in TCC for $ 920 million. TCC, a VRF and light commercial HVAC joint venture between Carrier and Toshiba Corporation, designs and manufactures flexible, energy-efficient and high-performance VRF and light commercial HVAC systems as well as commercial products, compressors and heat pumps. The acquisition included all of TCC’s advanced research and development centers and global manufacturing operations, product pipeline and the long-term use of Toshiba’s iconic brand. The acquisition was completed on August 1, 2022 and funded through the Japanese Term Loan Facility and cash on hand. Upon closing, Toshiba Corporation retained a 5 % ownership interest in TCC. | text | 920 | monetaryItemType | text: <entity> 920 </entity> <entity type> monetaryItemType </entity type> <context> On February 6, 2022, the Company entered into a binding agreement to acquire a majority ownership interest in TCC for $ 920 million. TCC, a VRF and light commercial HVAC joint venture between Carrier and Toshiba Corporation, designs and manufactures flexible, energy-efficient and high-performance VRF and light commercial HVAC systems as well as commercial products, compressors and heat pumps. The acquisition included all of TCC’s advanced research and development centers and global manufacturing operations, product pipeline and the long-term use of Toshiba’s iconic brand. The acquisition was completed on August 1, 2022 and funded through the Japanese Term Loan Facility and cash on hand. Upon closing, Toshiba Corporation retained a 5 % ownership interest in TCC. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
On February 6, 2022, the Company entered into a binding agreement to acquire a majority ownership interest in TCC for $ 920 million. TCC, a VRF and light commercial HVAC joint venture between Carrier and Toshiba Corporation, designs and manufactures flexible, energy-efficient and high-performance VRF and light commercial HVAC systems as well as commercial products, compressors and heat pumps. The acquisition included all of TCC’s advanced research and development centers and global manufacturing operations, product pipeline and the long-term use of Toshiba’s iconic brand. The acquisition was completed on August 1, 2022 and funded through the Japanese Term Loan Facility and cash on hand. Upon closing, Toshiba Corporation retained a 5 % ownership interest in TCC. | text | 5 | percentItemType | text: <entity> 5 </entity> <entity type> percentItemType </entity type> <context> On February 6, 2022, the Company entered into a binding agreement to acquire a majority ownership interest in TCC for $ 920 million. TCC, a VRF and light commercial HVAC joint venture between Carrier and Toshiba Corporation, designs and manufactures flexible, energy-efficient and high-performance VRF and light commercial HVAC systems as well as commercial products, compressors and heat pumps. The acquisition included all of TCC’s advanced research and development centers and global manufacturing operations, product pipeline and the long-term use of Toshiba’s iconic brand. The acquisition was completed on August 1, 2022 and funded through the Japanese Term Loan Facility and cash on hand. Upon closing, Toshiba Corporation retained a 5 % ownership interest in TCC. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
The excess purchase price over the estimated fair value of the net assets acquired was recognized as goodwill and totaled $ 876 million, which is not deductible for tax purposes. | text | 876 | monetaryItemType | text: <entity> 876 </entity> <entity type> monetaryItemType </entity type> <context> The excess purchase price over the estimated fair value of the net assets acquired was recognized as goodwill and totaled $ 876 million, which is not deductible for tax purposes. </context> | us-gaap:Goodwill |
Accounts receivable and current liabilities were stated at their historical carrying value, which approximates fair value given the short-term nature of these assets and liabilities. The estimate of fair value for inventory and fixed assets was based on an assessment of the acquired assets' condition as well as an evaluation of the current market value of such assets. The sale agreement included several customary provisions to settle working capital and other transaction-related items as of the date of sale. During 2022, the parties finalized these amounts in accordance with the terms of the sale agreement and the Company paid an additional $ 41 million to Toshiba Corporation in 2023. In addition, the parties finalized amounts related to pension funding levels during 2023 which resulted in the Company receiving $ 12 million from Toshiba Corporation. | text | 41 | monetaryItemType | text: <entity> 41 </entity> <entity type> monetaryItemType </entity type> <context> Accounts receivable and current liabilities were stated at their historical carrying value, which approximates fair value given the short-term nature of these assets and liabilities. The estimate of fair value for inventory and fixed assets was based on an assessment of the acquired assets' condition as well as an evaluation of the current market value of such assets. The sale agreement included several customary provisions to settle working capital and other transaction-related items as of the date of sale. During 2022, the parties finalized these amounts in accordance with the terms of the sale agreement and the Company paid an additional $ 41 million to Toshiba Corporation in 2023. In addition, the parties finalized amounts related to pension funding levels during 2023 which resulted in the Company receiving $ 12 million from Toshiba Corporation. </context> | us-gaap:BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentConsiderationTransferred |
Accounts receivable and current liabilities were stated at their historical carrying value, which approximates fair value given the short-term nature of these assets and liabilities. The estimate of fair value for inventory and fixed assets was based on an assessment of the acquired assets' condition as well as an evaluation of the current market value of such assets. The sale agreement included several customary provisions to settle working capital and other transaction-related items as of the date of sale. During 2022, the parties finalized these amounts in accordance with the terms of the sale agreement and the Company paid an additional $ 41 million to Toshiba Corporation in 2023. In addition, the parties finalized amounts related to pension funding levels during 2023 which resulted in the Company receiving $ 12 million from Toshiba Corporation. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> Accounts receivable and current liabilities were stated at their historical carrying value, which approximates fair value given the short-term nature of these assets and liabilities. The estimate of fair value for inventory and fixed assets was based on an assessment of the acquired assets' condition as well as an evaluation of the current market value of such assets. The sale agreement included several customary provisions to settle working capital and other transaction-related items as of the date of sale. During 2022, the parties finalized these amounts in accordance with the terms of the sale agreement and the Company paid an additional $ 41 million to Toshiba Corporation in 2023. In addition, the parties finalized amounts related to pension funding levels during 2023 which resulted in the Company receiving $ 12 million from Toshiba Corporation. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables |
The Company previously accounted for its minority ownership in TCC under the equity method of accounting. In connection with the transaction, the carrying value of the Company's previously held TCC equity investments were recognized at fair value at the date of acquisition using an income approach methodology. As a result, the Company recognized a $ 697 million non-cash gain within | text | 697 | monetaryItemType | text: <entity> 697 </entity> <entity type> monetaryItemType </entity type> <context> The Company previously accounted for its minority ownership in TCC under the equity method of accounting. In connection with the transaction, the carrying value of the Company's previously held TCC equity investments were recognized at fair value at the date of acquisition using an income approach methodology. As a result, the Company recognized a $ 697 million non-cash gain within </context> | us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain |
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