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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company manages its operations under two operating segments which represent the Company’s two reportable segments: Safety Services and Specialty Services. This structure is generally focused on various businesses related to contracting services and maintenance of industrial and commercial facilities. Both reportable segments derive their revenues from installation, inspection, maintenance, service and repair, retrofitting and upgrading, engineering and design, distribution, fabrication, and various types of other services in over 20 countries.
The Safety Services segment focuses on end-to-end integrated occupancy systems (fire protection services, HVAC, and entry systems), including design, installation, inspection, and service of these integrated systems. The work performed within this segment spans across industries and facilities and includes commercial, education, healthcare, high-tech, industrial and special-hazard settings.
The Specialty Services segment provides a variety of infrastructure services and specialized industrial plant services, which include maintenance and repair of critical infrastructure such as underground electric, gas, water, sewer, and telecommunications infrastructure. This segment’s services include engineering and design, fabrication, installation, maintenance service and repair, retrofitting and upgrading, pipeline infrastructure, access and road construction, supporting facilities, and performing ongoing integrity management and maintenance to customers within the energy industry. Customers within this segment vary from private and public utilities, communications, healthcare, education, transportation, manufacturing, industrial plants, and governmental agencies throughout North America.
The accounting policies of the reportable segments are the same as those described in Note 1 – “Basis of Presentation and Significant Accounting Policies.” All intercompany transactions and balances are eliminated in consolidation. Intercompany revenues and costs between entities within a reportable segment are eliminated to arrive at segment totals and eliminations between segments are separately presented. Corporate results include amounts related to corporate functions such as administrative costs, professional fees, acquisition-related transaction costs (exclusive of acquisition integration costs, which are included within the segment results of the acquired businesses), and other discrete items.
Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is the measure of profitability used by management to manage its segments and, accordingly, in its segment reporting. As appropriate, the Company supplements the reporting of consolidated financial information determined in accordance with U.S. GAAP with certain non-U.S. GAAP financial measures, including EBITDA. The Company believes these non-U.S. GAAP measures provide meaningful information and help investors understand the Company’s financial results and assess its prospects for future performance. The Company uses EBITDA to evaluate its performance, both internally and as compared with its peers because it excludes certain items that may not be indicative of the Company’s core operating results for its reportable segments. Segment EBITDA is calculated in a manner consistent with consolidated EBITDA.
Summarized financial information for the Company’s reportable segments is presented and reconciled to consolidated financial information in the following tables, including a reconciliation of consolidated operating income (loss) to EBITDA:
Three Months Ended June 30, 2024
Safety
Services		Specialty
Services		Corporate and
Eliminations 		Consolidated
Net revenues$1,279 $453 $(2)$1,730 
EBITDA Reconciliation   
Operating income (loss)$139 $35 $(48)$126 
Plus:   
Investment (expense) income and other, net(4)3 (1)(2)
Depreciation7 11 2 20 
Amortization42 13 — 55 
EBITDA$184 $62 $(47)$199 
Total assets$6,359 $1,144 $458 $7,961 
Capital expenditures6 13 3 22 
Three Months Ended June 30, 2023
Safety
Services		Specialty
Services		Corporate and
Eliminations 		Consolidated
Net revenues$1,225 $555 $(9)$1,771 
EBITDA Reconciliation
Operating income (loss)$98 $41 $(32)$107 
Plus:   
Investment income and other, net3 3 — 6 
Depreciation7 12 — 19 
Amortization42 13 1 56 
EBITDA$150 $69 $(31)$188 
Total assets$6,107 $1,328 $539 $7,974 
Capital expenditures9 16 — 25 
Six Months Ended June 30, 2024
Safety
Services		Specialty
Services		Corporate and
Eliminations 		Consolidated
Net revenues$2,493 $842 $(4)$3,331 
EBITDA Reconciliation
Operating income (loss)$264 $42 $(80)$226 
Plus:
Investment (expense) income and other, net(10)5 — (5)
Depreciation15 22 2 39 
Amortization78 26 1 105 
EBITDA$347 $95 $(77)$365 
Total assets$6,359 $1,144 $458 $7,961 
Capital expenditures11 23 10 44 
Six Months Ended June 30, 2023
Safety
Services		Specialty
Services		Corporate and
Eliminations 		Consolidated
Net revenues$2,416 $985 $(16)$3,385 
EBITDA Reconciliation
Operating income (loss)$194 $41 $(55)$180 
Plus:
Investment income and other, net6 5 — 11 
Loss on extinguishment of debt, net— — (3)(3)
Depreciation13 24 1 38 
Amortization83 26 2 111 
EBITDA$296 $96 $(55)$337 
Total assets$6,107 $1,328 $539 $7,974 
Capital expenditures14 31 1 46