v3.24.3
Tax Receivable Agreement (Tables)
9 Months Ended
Sep. 30, 2024
Receivables [Abstract]
Summary of Changes of Tax Receivable Liability
The following table summarizes the changes in the TRA liabilities (in millions):
Tax Receivable
Agreement Liability
Beginning balance as of December 31, 2023
$
795
Fair value remeasurement
51
Payments
(62)
Conversion of noncontrolling interest
90
Ending Balance as of September 30, 2024
874
Less: current portion included in other current liabilities
(119)
Total long-term tax receivable agreement liability
$
755
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