0000950170-24-093615 | 10-Q | XBRL Viewer

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Debt - Convertible Senior Notes - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions			6 Months Ended
	May 16, 2024	May 13, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Aggregate principal amount			$ 5,017		$ 4,953
Repayment of borrowings outstanding			2,075	$ 45
Convertible Senior Notes Due 2030 [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,400		$ 1,400		$ 0
Aggregate principal amount notes sold	1,400
Debt instrument issued principal option to purchase	200
Net proceeds from offering	1,374
Payments for cost of capped call transactions	167
Repayment of borrowings outstanding	$ 1,206
Indenture and the Notes [Member] \| Convertible Senior Notes Due 2030 [Member]
Debt Instrument [Line Items]
Interest rate	1.25%		1.56%
Debt instrument frequency of periodic payment			semiannually
Maturity date	Jun. 01, 2030
Debt instrument redemption percentage	100.00%
Debt instrument conversion price percentage	130.00%
Number of trading days	20 days
Number of consecutive trading days	30 days
Debt instrument conversion terms			The conversion rate for the Convertible Notes is initially 6.4799 shares of the Company’s common stock per one thousand dollars principal amount of the Convertible Notes, which is equivalent to an initial conversion price of approximately $154.32 per share. The conversion rate is subject to adjustment upon the occurrence of certain events.
Debt instrument conversion rate shares	6.4799
Debt instrument conversion rate	$ 154.32
Repurchase of principal amount percentage	100.00%
Capped Call Transactions [Member] \| Convertible Senior Notes Due 2030 [Member]
Debt Instrument [Line Items]
Capped call transaction reduction or offset per share		$ 237.42
Debt instrument premium percentage		100.00%
Sale price per share		$ 118.71
Cost to purchase capped call transactions			$ 167
Minimum [Member] \| Indenture and the Notes [Member] \| Convertible Senior Notes Due 2030 [Member]
Debt Instrument [Line Items]
Estimated aggregate principal amount percentage	25.00%
Maximum [Member] \| Indenture and the Notes [Member] \| Convertible Senior Notes Due 2030 [Member]
Debt Instrument [Line Items]
Estimated aggregate principal amount percentage	100.00%

Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Deferred Revenue and Customer Advances by Arrangement

A roll-forward of the Company’s deferred revenue and customer advances is as follows:


	Six Months Ended
	June 30, 2024			June 30, 2023
Beginning balance, January 1(1)	$	79		$	96
Additions to deferred revenue and customer advances		60			84
Amount of deferred revenue and customer advances recognized in income		(72	)		(93	)
Ending balance, June 30(2)	$	67		$	87

(1)

Beginning balance as of January 1, 2024 included $77 of current deferred revenue and customer advances and $2 of non-current deferred revenue. Beginning balance as of January 1, 2023 included $94 of current deferred revenue and customer advances and $2 of non-current deferred revenue.

(2)

Ending balance as of June 30, 2024 included $65 of current deferred revenue and customer advances and $2 of non-current deferred revenue. Ending balance as of June 30, 2023 included $85 of current deferred revenue and customer advances and $2 of non-current deferred revenue.

Summary of Revenue from Contracts with Customers

The following tables summarize product and service revenue from contracts with customers in MKS’ three reportable segments.


	Three Months Ended June 30, 2024
	VSD		PSD		MSD		Total
Net revenues:
Products	$	276	$	210	$	284	$	770
Services		59		44		14		117
Total net revenues	$	335	$	254	$	298	$	887


	Three Months Ended June 30, 2023
	VSD		PSD		MSD		Total
Net revenues:
Products	$	373	$	228	$	284	$	885
Services		61		43		14		118
Total net revenues	$	434	$	271	$	298	$	1,003


	Six Months Ended June 30, 2024
	VSD		PSD		MSD		Total
Net revenues:
Products	$	550	$	424	$	550	$	1,524
Services		118		83		30		231
Total net revenues	$	668	$	507	$	580	$	1,755


	Six Months Ended June 30, 2023
	VSD		PSD		MSD		Total
Net revenues:
Products	$	635	$	387	$	575	$	1,597
Services		103		70		27		200
Total net revenues	$	738	$	457	$	602	$	1,797

The following table summarizes revenue from contracts with customers in the Company’s three end markets: Semiconductor, Electronics and Packaging, and Specialty Industrial.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Semiconductor	$	369	$	441	$	720	$	750
Electronics and Packaging		229		225		437		447
Specialty Industrial		289		337		598		600
	$	887	$	1,003	$	1,755	$	1,797

Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2024

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Pronouncements

(2)

Recent Accounting Pronouncements

Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker (“CODM”). The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. A public entity should apply the amendments in this ASU retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of this ASU on its disclosures within the consolidated financial statements.

Income Taxes (Topic 740): Improvements to Income Tax Disclosures

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. ASU No. 2023-09 requires a public business entity (“PBE”) to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax

payments, net of refunds received. For PBEs, the new standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. An entity may apply the amendments in this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods, or may apply the amendments retrospectively by providing the revised disclosures for all period presented. The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	$ 3,721	$ 3,721
Accumulated Impairment Charges	(216)	(216)
Accumulated Amortization Charges	$ (981)	$ (858)
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]	Amortization of Intangible Assets	Amortization of Intangible Assets
Foreign Currency Translation and Measurement Period Adjustments	$ (106)	$ (28)
Intangible assets, net	2,418	2,619
Completed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	1,268	1,268
Accumulated Impairment Charges	(152)	(152)
Accumulated Amortization Charges	(451)	(405)
Foreign Currency Translation and Measurement Period Adjustments	(24)	(4)
Intangible assets, net	641	707
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	2,072	2,072
Accumulated Impairment Charges	(1)	(1)
Accumulated Amortization Charges	(406)	(335)
Foreign Currency Translation and Measurement Period Adjustments	(70)	(17)
Intangible assets, net	1,595	1,719
Patents, Trademarks, Trade Names and Other [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	381	381
Accumulated Impairment Charges	(63)	(63)
Accumulated Amortization Charges	(124)	(118)
Foreign Currency Translation and Measurement Period Adjustments	(12)	(7)
Intangible assets, net	$ 182	$ 193

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Jul. 29, 2024
Cover [Abstract]
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 30, 2024
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Registrant Name	MKS INSTRUMENTS, INC.
Entity Central Index Key	0001049502
Trading Symbol	MKSI
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		67,287,594
Entity File Number	0-23621
Entity Tax Identification Number	04-2277512
Entity Address, Address Line One	2 Tech Drive, Suite 201,
Entity Address, City or Town	Andover
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01810
Entity Incorporation, State or Country Code	MA
City Area Code	978
Local Phone Number	645-5500
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock

Revenue from Contracts with Customers - Schedule of Deferred Revenue and Customer Advances by Arrangement (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Change in Contract with Customer, Liability [Abstract]
Beginning balance, January 1	$ 79	$ 96
Additions to deferred revenue and customer advances	60	84
Amount of deferred revenue and customer advances recognized in income	(72)	(93)
Ending balance, June 30	$ 67	$ 87

Goodwill and Intangible Assets - Summary of Quantitative Assessment (Detail) $ in Millions	3 Months Ended
	Jun. 30, 2023 USD ($)
Electronics [Member]
Goodwill [Line Items]
Goodwill Impairment	$ 826
Remaining Goodwill	1,420
General Metal Finishing [Member]
Goodwill [Line Items]
Goodwill Impairment	428
Remaining Goodwill	307
Equipment Solutions [Member]
Goodwill [Line Items]
Goodwill Impairment	372
Remaining Goodwill	$ 100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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+ Details

Restructuring and Other - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 2	$ 11	$ 5	$ 12
Payments for legal matter	$ 1		$ 1

Debt - Schedule of Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Other interest expense, net	$ (13)	$ (16)	$ (29)	$ (29)
Total interest expense	79	88	166	173
Term Loan Facility [Member]
Debt Instrument [Line Items]
Contractual interest expense	82	98	177	188
Amortization of debt issuance costs as interest expense	7	6	15	14
Total interest expense	89	104	192	202
Convertible Notes [Member]
Debt Instrument [Line Items]
Contractual interest expense	2	0	2	0
Amortization of debt issuance costs as interest expense	1	0	1	0
Total interest expense	$ 3	$ 0	$ 3	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 69E
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Paragraph 1B
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

- Definition

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

Revenue from Contracts with Customers - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) Segment	Dec. 31, 2023 USD ($)
Change in Contract with Customer, Liability [Abstract]
Contract assets \| $	$ 22	$ 26
Number of reportable segments \| Segment	3

Debt - Schedule of Contractual Maturities of Debt Obligations (Detail) $ in Millions	Jun. 30, 2024 USD ($)
Maturities of Long-Term Debt [Abstract]
2024 (remaining)	$ 25
2025	50
2026	50
2027	50
2028	50
2029	3,392
Thereafter	$ 1,400

Fair Value Measurements

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

(4)

Fair Value Measurements

In accordance with the provisions of fair value accounting, a fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability and defines fair value based upon an exit price model.

The fair value measurement guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The guidance describes three levels of inputs that may be used to measure fair value:

Level 1 Quoted prices in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments or securities or derivative contracts that are valued using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data.

Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the Company categorizes such assets and liabilities based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

Assets and liabilities of the Company are measured at fair value on a recurring basis as of June 30, 2024 and are summarized as follows:


			Fair Value Measurements at Reporting Date Using
Description	June 30, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market funds	$	324	$	324	$	—	$	—
Time deposits		21		—		21		—
Equity securities		2		2		—		—
Available-for-sale securities:
Time deposits and certificates of deposit		1		—		1		—
Group insurance contracts		6		—		6		—
Derivatives
Foreign exchange forward contracts		10		—		10		—
Interest rate hedges - current		15		—		15		—
Interest rate hedges - non-current		53		—		53		—
Pension and deferred compensation plan assets		20		—		20		—
Total assets	$	452	$	326	$	126	$	—
Liabilities:
Derivatives
Foreign exchange forward contracts-current	$	2	$	—	$	2	$	—
Interest rate hedges-non-current		1		—		1		—
Total liabilities	$	3	$	—	$	3	$	—
Reported as follows:
Assets:
Cash and cash equivalents(1)	$	345	$	324	$	21	$	—
Short-term investments		1		—		1		—
Other current assets		25		—		25		—
Total current assets	$	371	$	324	$	47	$	—
Other assets	$	81	$	2	$	79	$	—
Liabilities:
Other current liabilities	$	2	$	—	$	2	$	—
Other non-current liabilities	$	1	$	—	$	1	$	—

(1) The cash and cash equivalents amount presented in the table above does not include cash of $505 as of June 30, 2024.

Assets and liabilities of the Company are measured at fair value on a recurring basis as of December 31, 2023 and are summarized as follows:


			Fair Value Measurements at Reporting Date Using
Description	December 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market funds	$	356	$	356	$	—	$	—
Time deposits		12		—		12		—
Available-for-sale securities:
Group insurance contracts		6		—		6		—
Derivatives
Foreign exchange forward contracts		2		—		2		—
Interest rate hedge - current		3		—		3		—
Interest rate hedge - non-current		41		—		41		—
Pension and deferred compensation plan assets		19		—		19		—
Total assets	$	439	$	356	$	83	$	—
Liabilities:
Derivatives
Foreign exchange forward contracts	$	5	$	—	$	5	$	—
Total liabilities	$	5	$	—	$	5	$	—
Reported as follows:
Assets:
Cash and cash equivalents (1)	$	368	$	356	$	12	$	—
Other current assets		5		—		5		—
Total current assets	$	373	$	356	$	17	$	—
Other assets	$	66	$	—	$	66	$	—
Liabilities:
Other current liabilities	$	5	$	—	$	5	$	—

(1) The cash and cash equivalents amount presented in the table above does not include cash of $507 as of December 31, 2023.

Other Fair Value Disclosures

The estimated carrying value and fair value of the Company’s debt as of June 30, 2024 and December 31, 2023 are as follows:


	June 30, 2024				December 31, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
Term Loan Facility	$	3,617	$	3,622	$	4,953	$	4,965
Convertible Notes		1,400		1,493		—		—
Total	$	5,017	$	5,115	$	4,953	$	4,965

The estimated carrying value and fair value of the Company’s Term Loan Facility, as defined and further described in Note 8, was determined using available market information based on recent trades or activity of debt instruments with substantially similar risks, terms and maturities, which fall within Level 2 under the fair value hierarchy. The estimated fair value of the Company’s Convertible Notes, as defined and further described in Note 8, was determined based on the last traded price of the Convertible Notes for the period ended June 30, 2024, and falls under Level 2 of the fair value hierarchy.

Pension and Deferred Compensation Plan Assets

The pension and deferred compensation plan assets represent investments in mutual funds, exchange traded funds, government securities and other time deposits. These investments are set aside for employee retirement benefits of certain of the Company’s subsidiaries.

Derivatives

As a result of the Company’s global operating activities and variable interest rate borrowings, the Company is exposed to market risks from changes in foreign currency exchange rates and interest rates, which may adversely affect its operating results and financial position. When deemed appropriate, the Company minimizes its risks from foreign currency exchange rate and interest rate fluctuations through the use of derivative financial instruments. The principal market in which the Company executes its foreign currency and interest rate contracts is the institutional market in an over-the-counter environment with a relatively high level of price transparency. The market participants are typically large commercial banks. The contracts are valued using broker quotations or market transactions.

Stock-Based Compensation - Schedule of Total Stock-Based Compensation Expense Included in Company's Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 11	$ 13	$ 26	$ 31
Cost of Revenues [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2	2	3	3
Research and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1	2	3	3
Selling, General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 8	$ 9	$ 20	$ 25

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

(7)

Goodwill and Intangible Assets

Goodwill

The Company’s methodology for allocating the purchase price of an acquisition is determined through established and generally accepted valuation techniques. Goodwill is measured as the excess of the cost of the acquisition over the sum of the amounts assigned to tangible and identifiable intangible assets acquired less liabilities assumed. The Company assigns assets acquired (including goodwill) and liabilities assumed to one or more reporting units as of the date of acquisition. If the products obtained in an acquisition are assigned to multiple reporting units, the goodwill is distributed to the respective reporting units as part of the purchase price allocation process.

Goodwill and intangible assets with indefinite useful lives are not amortized but are reviewed for impairment annually during the fourth quarter of each fiscal year or whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. To measure impairment, the Company compares the fair value of the reporting unit to its carrying amount, which includes goodwill. If the fair value of the reporting unit exceeds the carrying value of the reporting unit, no impairment exists. If the fair value of the reporting unit is less than the carrying value of the reporting unit, a goodwill impairment is recorded.

Amortizable intangible assets and other long-lived assets are also subject to an impairment test if there is an indicator of impairment. When the Company determines that the carrying value of intangible assets or other long-lived assets may not be recoverable based upon the existence of one or more indicators of impairment, the Company uses the projected undiscounted cash flow method to determine whether an impairment exists, and then measures the impairment using discounted cash flows.

The process of evaluating the potential impairment of goodwill, intangible assets and other long-lived assets requires significant judgment. The Company regularly monitors current business conditions and other factors, including, but not limited to, adverse industry or economic trends, restructuring actions and lower projections of profitability that may impact future operating results. The Company’s stock price and any estimated control premium are factors affecting the assessment of the fair value of the Company’s underlying reporting units for purposes of performing any goodwill impairment assessment.

The changes in the carrying amount of goodwill and accumulated impairment loss during the six months ended June 30, 2024 were as follows:


	Gross Carrying Amount			Accumulated Impairment Loss			Net
Beginning balance, January 1, 2024	$	4,387		$	(1,833	)	$	2,554
Foreign currency translation and measurement period adjustments		(59	)		—			(59	)
Ending balance, June 30, 2024	$	4,328		$	(1,833	)	$	2,495

During the quarter ended June 30, 2023, the Company noted softer industry demand, particularly in the personal computer and smartphone markets, and concluded there was a triggering event at each of its electronics and general metal finishing reporting units, which together constitute MSD, and the equipment solutions reporting unit of PSD.

For each of the three reporting units, the Company performed a quantitative assessment of goodwill using an equal weighting of the income approach and market approach. The income approach was based upon projected future cash flows that were discounted to present value and an assumed terminal growth rate. The key underlying assumptions included forecasted revenues, which incorporated external market data, gross profit and operating expenses, as well as an applicable discount rate for each reporting unit. The market approach for each of the three reporting units incorporated observed multiples of guideline public companies. The market approach for the electronics and general metal finishing reporting units also incorporated multiples from guideline transactions.

Fair value estimates are based on complex series of judgments about future events and uncertainties and rely heavily on estimates and assumptions that have been deemed reasonable by the Company's management. There are inherent uncertainties and management judgment required in these determinations.

This quantitative assessment for the quarter ended June 30, 2023 resulted in the following:


Reporting Unit	Goodwill Impairment		Remaining Goodwill
Electronics	$	826	$	1,420
General Metal Finishing		428		307
Equipment Solutions		372		100

In addition, the Company used an income approach to determine the fair value of the long-lived and indefinite-lived intangible assets within these reporting units (Level 3 within the fair value hierarchy). These valuations resulted in a $20 fair value and $152 impairment of completed technology within the equipment solutions reporting unit and a $72 fair value and $49 impairment of in-process research and development (“IPR&D”) within the electronics reporting unit. After evaluating forecast updates and carrying values, the Company did not identify impairments at any other of its reporting units.

For the completed technology valuation within the equipment solutions reporting unit, the forecasted future undiscounted cash flows were consistent with the Company’s goodwill analysis, using an approximate seven year useful life, an 8% weighted-average forecasted revenue growth rate, and a discount rate of 13.5%. For the IPR&D intangible asset within the electronics reporting unit, the forecasted undiscounted future cash flows utilized were consistent with the Company’s goodwill analysis, with estimated time to complete in-process projects of up to two years, and a discount rate of 12.5%.

Intangible Assets

The Company’s intangible assets are comprised of the following:


As of June 30, 2024:	Gross		Accumulated Impairment Charges			Accumulated Amortization			Foreign Currency Translation			Net
Completed technology	$	1,268	$	(152	)	$	(451	)	$	(24	)	$	641
Customer relationships		2,072		(1	)		(406	)		(70	)		1,595
Patents, trademarks, trade names and other		381		(63	)		(124	)		(12	)		182
	$	3,721	$	(216	)	$	(981	)	$	(106	)	$	2,418


As of December 31, 2023:	Gross		Accumulated Impairment Charges			Accumulated Amortization Charges			Foreign Currency Translation and Measurement Period Adjustments			Net
Completed technology	$	1,268	$	(152	)	$	(405	)	$	(4	)	$	707
Customer relationships		2,072		(1	)		(335	)		(17	)		1,719
Patents, trademarks, trade names and other		381		(63	)		(118	)		(7	)		193
	$	3,721	$	(216	)	$	(858	)	$	(28	)	$	2,619

During the six months ended June 30, 2023, $9 of IPR&D was written off to amortization expense as certain projects were cancelled.

Aggregate amortization expense related to acquired intangible assets for the six months ended June 30, 2024 and 2023 was $123 and $157, respectively.

Aggregate net amortization expense related to acquired intangible assets for future years is as follows:


Year	Amount
2024 (remaining)	$	124
2025		245
2026		241
2027		240
2028		240
2029		238
Thereafter		1,034

The Company excluded from the above table intangible assets of $56 of indefinite-lived trademarks and trade names, which were not subject to amortization.

Basis of Presentation

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

(1)

Basis of Presentation

The terms “MKS” and the “Company” refer to MKS Instruments, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The interim financial data as of June 30, 2024, and for the three and six months ended June 30, 2024, are unaudited; however, in the opinion of MKS, the interim data includes all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the interim periods. The condensed consolidated balance sheet presented as of December 31, 2023 has been derived from the consolidated audited financial statements as of that date. The unaudited condensed consolidated financial statements presented herein have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and note disclosures required by United States generally accepted accounting principles (“U.S. GAAP”). The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the MKS Annual Report on Form 10-K for the year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission on February 27, 2024.

The preparation of these unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to revenue recognition, inventory valuation, warranty costs, stock-based compensation, intangible assets, goodwill, other long-lived assets and income taxes. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. As a result of rounding, there may be immaterial differences in amounts presented and certain calculations may not sum to the total number expressed in each category or tie to a corresponding schedule.

The Company has three reportable segments: the Vacuum Solutions Division (“VSD”), the Photonics Solutions Division (“PSD”) and the Materials Solutions Division (“MSD”) as described in Note 15. During the quarter ended March 31, 2024, the Company moved its Optical Sensing Products (“OSP”) product line from the PSD segment to the VSD segment. The purpose of this realignment was to group the OSP products with related semiconductor products within the VSD segment. Prior periods have been recast to reflect this change. The Company reserves the right to make reclassifications between segments.

Stockholders' Equity

6 Months Ended

Jun. 30, 2024

Federal Home Loan Banks [Abstract]

Stockholders' Equity

(14)

Stockholders’ Equity

Share Repurchase Program

On July 25, 2011, the Company’s Board of Directors approved a share repurchase program for the repurchase of up to an aggregate of $200 of its outstanding common stock from time to time in open market purchases, privately negotiated transactions or through other appropriate means. The timing and quantity of any shares repurchased will depend upon a variety of factors, including business conditions, stock market conditions and business development activities, including, but not limited to, merger and acquisition opportunities. These repurchases may be commenced, suspended or discontinued at any time without prior notice. The Company has repurchased approximately 2.6 shares of common stock for approximately $127 pursuant to the program since its adoption. During the three and six months ended June 30, 2024 and 2023, there were no repurchases of common stock.

Cash Dividends

Holders of the Company’s common stock are entitled to receive dividends when they are declared by the Company’s Board of Directors. During each of the first and second quarters of 2024 and 2023, the Company’s Board of Directors declared a cash dividend of $0.22 per share, which totaled $30 and $29 for the six months ended June 30, 2024 and 2023, respectively.

On August 5, 2024, the Company’s Board of Directors declared a quarterly cash dividend of $0.22 per share to be paid on September 6, 2024 to stockholders of record as of August 26, 2024.

Future dividend declarations, if any, as well as the record and payment dates for such dividends, are subject to the final determination of the Company’s Board of Directors.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Subsequent Events - Additional Information (Detail) € in Millions, $ in Millions				6 Months Ended
	Jul. 23, 2024 EUR (€)	Jul. 23, 2024 USD ($)	Jul. 22, 2024	Jun. 30, 2024
Subsequent Event [Line Items]
Debt refinanced description				(i) refinanced its existing USD Tranche B loan and Euro Tranche B loan with a new $2,650 USD Tranche B loan and a new €800 Euro Tranche B loan, (ii) decreased the applicable margin for the USD Tranche B from 2.50% to 2.25% with respect to Term SOFR borrowings and from 1.50% to 1.25% with respect to base rate borrowings, (iii) decreased the applicable margin for the Euro Tranche B from 3.00% to 2.75% and (iv) extended the period during which a 1.00% prepayment premium may be required if the Company prepays any loans under the USD Tranche B or the Euro Tranche B in connection with a repricing transaction until the date that is six months following the Fourth Amendment Effective Date.
USD Tranche B [Member]
Subsequent Event [Line Items]
Percentage of prepayment premium				1.00%
Subsequent Event [Member]
Subsequent Event [Line Items]
Loan voluntary prepayment amount		$ 110
Subsequent Event [Member] \| USD Tranche B [Member]
Subsequent Event [Line Items]
Debt refinanced amount		$ 2,650
Percentage of prepayment premium	1.00%	1.00%
Loan voluntary prepayment amount		$ 69
Subsequent Event [Member] \| Euro Tranche B [Member]
Subsequent Event [Line Items]
Debt refinanced amount \| €	€ 800
Debt Instrument, decrease in interest rate	2.75%	2.75%	3.00%
Percentage of prepayment premium	1.00%	1.00%
Loan voluntary prepayment amount \| €	€ 38
Subsequent Event [Member] \| Term SOFR Borrowings [Member]
Subsequent Event [Line Items]
Debt Instrument, decrease in interest rate	2.25%	2.25%	2.50%
Subsequent Event [Member] \| Base Rate Borrowings [Member]
Subsequent Event [Line Items]
Debt Instrument, decrease in interest rate	1.25%	1.25%	1.50%

Acquisition - Summary of Purchase Price (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Repayment of Atotech senior secured term loans	$ 2,075	$ 45

Restructuring and Other (Tables)

6 Months Ended

Jun. 30, 2024

Expense Of Restructuring Activities And Other [Abstract]

Schedule of Company's Restructuring Activity

The activity related to the Company’s restructuring accrual is shown below:


	Six Months Ended June 30,
	2024			2023
Restructuring accrual, beginning of period	$	9		$	3
Charged to expense		4			12
Payments and adjustments		(6	)		(6	)
Restructuring accrual, end of period	$	7		$	9

Debt - Credit Facilities - Additional Information (Detail)					3 Months Ended		6 Months Ended
	May 16, 2024 USD ($)	Feb. 13, 2024 USD ($)	Oct. 03, 2023 USD ($)	Aug. 17, 2022 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jan. 22, 2024 EUR (€)	Jan. 22, 2024 USD ($)	Dec. 31, 2023 USD ($)	Aug. 17, 2022 USD ($)
Debt Instrument [Line Items]
Debt instrument, interest rate terms							Initially, borrowings under the Credit Facilities bore interest at a rate per annum equal to, at the Company’s option, any of the following, plus, in each case, an applicable margin: (a) with respect to the USD Tranche A, the Revolving Facility and the USD Tranche B, (x) a base rate determined by reference to the highest of (1) the federal funds effective rate plus 0.50%, (2) the prime rate quoted in The Wall Street Journal, or (3) a forward-looking term rate based on Term SOFR (plus an applicable credit spread adjustment) for an interest period of one month, plus 1.00%; and (y) a Term SOFR rate (plus an applicable credit spread adjustment) for the interest period relevant to such borrowing, subject to a rate floor of (I) with respect to the USD Tranche B, 0.50% and (II) with respect to the USD Tranche A and the Revolving Facility, 0.0%; and (b) with respect to the Euro Tranche B, a Euro Interbank Offered Rate (“EURIBOR”) rate determined by reference to the costs of funds for Euro deposits for the interest period relevant to such borrowing adjusted for certain additional costs, subject to a EURIBOR rate floor of 0.0%	Initially, borrowings under the Credit Facilities bore interest at a rate per annum equal to, at the Company’s option, any of the following, plus, in each case, an applicable margin: (a) with respect to the USD Tranche A, the Revolving Facility and the USD Tranche B, (x) a base rate determined by reference to the highest of (1) the federal funds effective rate plus 0.50%, (2) the prime rate quoted in The Wall Street Journal, or (3) a forward-looking term rate based on Term SOFR (plus an applicable credit spread adjustment) for an interest period of one month, plus 1.00%; and (y) a Term SOFR rate (plus an applicable credit spread adjustment) for the interest period relevant to such borrowing, subject to a rate floor of (I) with respect to the USD Tranche B, 0.50% and (II) with respect to the USD Tranche A and the Revolving Facility, 0.0%; and (b) with respect to the Euro Tranche B, a Euro Interbank Offered Rate (“EURIBOR”) rate determined by reference to the costs of funds for Euro deposits for the interest period relevant to such borrowing adjusted for certain additional costs, subject to a EURIBOR rate floor of 0.0%
Initial commitment fee percentage							0.375%	0.375%
Repayments of notes from proceeds from offering								$ 2,075,000,000	$ 45,000,000
Loss on extinguishment of debt					$ 38,000,000	$ 0		47,000,000	$ 0
Outstanding principal amount					$ 5,017,000,000			5,017,000,000				$ 4,953,000,000
Incremental Revolving Commitments [Member]
Debt Instrument [Line Items]
Increased available borrowing capacity		$ 175,000,000						$ 675,000,000
Maximum [Member]
Debt Instrument [Line Items]
Leverage ratio					5.25			5.25
Annual Step-Down [Member]
Debt Instrument [Line Items]
Leverage ratio					0.25			0.25
Step-Up [Member]
Debt Instrument [Line Items]
Leverage ratio					0.5			0.5
Step-Up [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Leverage ratio					5.5			5.5
Term SOFR Borrowings [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							2.50%	2.50%
Borrowings under Euro Tranche B [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							3.00%	3.00%
Term Loans Under Term Loan Facility [Member]
Debt Instrument [Line Items]
Deferred financing fees and original issue discount fees					$ 242,000,000			$ 242,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total borrowings outstanding					0			$ 0
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Percentage of aggregate amount of all commitments							35.00%	35.00%
Term Loan Facility [Member]
Debt Instrument [Line Items]
Line of credit facility minimum additional borrowing capacity					1,011,000,000			$ 1,011,000,000
Minimum percentage of consolidated EBITDA							75.00%	75.00%
Outstanding principal amount					$ 3,617,000,000			$ 3,617,000,000				$ 4,953,000,000
Weighted average interest rate					7.50%			7.50%
Original Issue Discount [Member]
Debt Instrument [Line Items]
Original issue discount percentage of principal amount							0.25%	0.25%
Federal Funds Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							0.50%	0.50%
Term SOFR Rate (Plus Applicable Credit Spread Adjustment) [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							1.00%	1.00%
EURIBOR Rate Floor [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							0.00%	0.00%
Base Rate [Member] \| Borrowings Under Revolving Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							1.50%	1.50%
Atotech [Member]
Debt Instrument [Line Items]
Credit agreement date				Aug. 17, 2022
Borrowing capacity													$ 500,000,000
USD Tranche A [Member]
Debt Instrument [Line Items]
Borrowing capacity													1,000,000,000
Scheduled quarterly payments percentage of original principal amount							1.25%	1.25%
Outstanding principal amount											$ 744,000,000
USD Tranche A [Member] \| Term SOFR Borrowings [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							2.50%	2.50%
USD Tranche A [Member] \| Floor Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							0.00%	0.00%
USD Tranche A [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							1.50%	1.50%
USD Tranche B [Member]
Debt Instrument [Line Items]
Borrowing capacity													$ 3,600,000,000
Repayments of notes from proceeds from offering	$ 1,206,000,000
Loss on extinguishment of debt	$ 38,000,000
Prepayment premium percentage of aggregate principal amount							1.00%	1.00%
Scheduled quarterly payments amount								$ 10,000,000
Total borrowings outstanding			$ 3,564,000,000
USD Tranche B [Member] \| Term SOFR Borrowings [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate			2.50%				2.75%	2.75%
USD Tranche B [Member] \| Original Issue Discount [Member]
Debt Instrument [Line Items]
Original issue discount percentage of principal amount							2.00%	2.00%
USD Tranche B [Member] \| Floor Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate							0.50%	0.50%
USD Tranche B [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate			1.50%				1.75%	1.75%
Euro Tranche B [Member]
Debt Instrument [Line Items]
Borrowing capacity \| €				€ 600,000,000
Scheduled quarterly payments amount \| €							€ 2,000,000
Euro Tranche B [Member] \| Original Issue Discount [Member]
Debt Instrument [Line Items]
Original issue discount percentage of principal amount							2.00%	2.00%
First Lien Net Leverage Ratio [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Leverage ratio					6			6
USD Tranche B First Ammendment [Member]
Debt Instrument [Line Items]
Deferred financing fees and original issue discount fees					$ 11,000,000			$ 11,000,000
Deferred financing costs in long-term debt					9,000,000			9,000,000
Loss on extinguishment of debt								$ 8,000,000
USD Tranche B First Ammendment [Member] \| Original Issue Discount [Member]
Debt Instrument [Line Items]
Original issue discount percentage of principal amount							0.25%	0.25%
Incremental Tranche B Loans Second Amendment [Member]
Debt Instrument [Line Items]
Deferred financing fees and original issue discount fees					5,000,000			$ 5,000,000
Deferred financing costs in long-term debt					$ 2,000,000			2,000,000
Loss on extinguishment of debt								$ 9,000,000
Incremental USD Tranche B Loans [Member]
Debt Instrument [Line Items]
Outstanding principal amount											$ 490,000,000
Incremental Tranche B Loans [Member]
Debt Instrument [Line Items]
Outstanding principal amount \| €										€ 250,000,000

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]
Beginning Balance at Dec. 31, 2022	$ 4,483.0	$ 0.0	$ 2,142.0	$ 2,272.0	$ 69.0
Beginning Balance, Shares at Dec. 31, 2022		66,600,000
Net issuance under stock-based plans	(6.0)		(6.0)
Net issuance under stock-based plans, Shares		100,000
Stock-based compensation	18.0		18.0
Cash dividend	(15.0)			(15.0)
Comprehensive (loss) income (net of tax):
Net income (loss)	(42.0)			(42.0)
Other comprehensive (loss) income	13.0				13.0
Ending Balance at Mar. 31, 2023	4,451.0	$ 0.0	2,154.0	2,215.0	82.0
Ending Balance, Shares at Mar. 31, 2023		66,700,000
Beginning Balance at Dec. 31, 2022	4,483.0	$ 0.0	2,142.0	2,272.0	69.0
Beginning Balance, Shares at Dec. 31, 2022		66,600,000
Comprehensive (loss) income (net of tax):
Net income (loss)	(1,812.0)
Ending Balance at Jun. 30, 2023	2,495.0	$ 0.0	2,168.0	431.0	(104.0)
Ending Balance, Shares at Jun. 30, 2023		66,900,000
Beginning Balance at Mar. 31, 2023	4,451.0	$ 0.0	2,154.0	2,215.0	82.0
Beginning Balance, Shares at Mar. 31, 2023		66,700,000
Net issuance under stock-based plans	1.0		1.0
Net issuance under stock-based plans, Shares		200,000
Stock-based compensation	13.0		13.0
Cash dividend	(15.0)			(15.0)
Comprehensive (loss) income (net of tax):
Net income (loss)	(1,769.0)			(1,769.0)
Other comprehensive (loss) income	(186.0)				(186.0)
Ending Balance at Jun. 30, 2023	2,495.0	$ 0.0	2,168.0	431.0	(104.0)
Ending Balance, Shares at Jun. 30, 2023		66,900,000
Beginning Balance at Dec. 31, 2023	2,472.0	$ 0.1	2,195.0	373.0	(96.0)
Beginning Balance, Shares at Dec. 31, 2023		66,900,000
Net issuance under stock-based plans	(9.0)		(9.0)
Net issuance under stock-based plans, Shares		200,000
Stock-based compensation	15.0		15.0
Cash dividend	(15.0)			(15.0)
Comprehensive (loss) income (net of tax):
Net income (loss)	15.0			15.0
Other comprehensive (loss) income	(54.0)				(54.0)
Ending Balance at Mar. 31, 2024	2,424.0	$ 0.1	2,201.0	373.0	(150.0)
Ending Balance, Shares at Mar. 31, 2024		67,100,000
Beginning Balance at Dec. 31, 2023	2,472.0	$ 0.1	2,195.0	373.0	(96.0)
Beginning Balance, Shares at Dec. 31, 2023		66,900,000
Comprehensive (loss) income (net of tax):
Net income (loss)	37.0
Ending Balance at Jun. 30, 2024	2,233.0	$ 0.1	2,042.0	381.0	(190.0)
Ending Balance, Shares at Jun. 30, 2024		67,300,000
Beginning Balance at Mar. 31, 2024	2,424.0	$ 0.1	2,201.0	373.0	(150.0)
Beginning Balance, Shares at Mar. 31, 2024		67,100,000
Net issuance under stock-based plans	(2.0)		(2.0)
Net issuance under stock-based plans, Shares		200,000
Stock-based compensation	11.0		11.0
Purchase of capped calls related to Convertible Notes	(167.0)		(167.0)
Cash dividend	(15.0)			(15.0)
Comprehensive (loss) income (net of tax):
Net income (loss)	23.0			23.0
Other comprehensive (loss) income	(40.0)				(40.0)
Ending Balance at Jun. 30, 2024	$ 2,233.0	$ 0.1	$ 2,042.0	$ 381.0	$ (190.0)
Ending Balance, Shares at Jun. 30, 2024		67,300,000

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill and accumulated impairment loss during the six months ended June 30, 2024 were as follows:


	Gross Carrying Amount			Accumulated Impairment Loss			Net
Beginning balance, January 1, 2024	$	4,387		$	(1,833	)	$	2,554
Foreign currency translation and measurement period adjustments		(59	)		—			(59	)
Ending balance, June 30, 2024	$	4,328		$	(1,833	)	$	2,495

Summary Quantitative Assessment

This quantitative assessment for the quarter ended June 30, 2023 resulted in the following:


Reporting Unit	Goodwill Impairment		Remaining Goodwill
Electronics	$	826	$	1,420
General Metal Finishing		428		307
Equipment Solutions		372		100

Intangible Assets

The Company’s intangible assets are comprised of the following:


As of June 30, 2024:	Gross		Accumulated Impairment Charges			Accumulated Amortization			Foreign Currency Translation			Net
Completed technology	$	1,268	$	(152	)	$	(451	)	$	(24	)	$	641
Customer relationships		2,072		(1	)		(406	)		(70	)		1,595
Patents, trademarks, trade names and other		381		(63	)		(124	)		(12	)		182
	$	3,721	$	(216	)	$	(981	)	$	(106	)	$	2,418


As of December 31, 2023:	Gross		Accumulated Impairment Charges			Accumulated Amortization Charges			Foreign Currency Translation and Measurement Period Adjustments			Net
Completed technology	$	1,268	$	(152	)	$	(405	)	$	(4	)	$	707
Customer relationships		2,072		(1	)		(335	)		(17	)		1,719
Patents, trademarks, trade names and other		381		(63	)		(118	)		(7	)		193
	$	3,721	$	(216	)	$	(858	)	$	(28	)	$	2,619

Estimated Net Amortization Expense

Aggregate net amortization expense related to acquired intangible assets for future years is as follows:


Year	Amount
2024 (remaining)	$	124
2025		245
2026		241
2027		240
2028		240
2029		238
Thereafter		1,034

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Recent Accounting Pronouncements - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2024
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Minimum percentage of income tax payment net of refunds received	5.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 79: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 80: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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Reference 81: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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Reference 82: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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Reference 83: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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Reference 84: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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Reference 85: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
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-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 86: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
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-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 87: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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Reference 88: http://www.xbrl.org/2003/role/disclosureRef
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Reference 89: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 90: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 91: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 92: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480424/946-10-50-3

+ Details

Business Segment and Geographic Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2024 Segment
Segment Reporting Information [Line Items]
Number of reportable segments	3

Fair Value Measurements - Schedule of Estimated Carrying Value and Fair Value of Company's Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	May 16, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Carrying Value	$ 5,017		$ 4,953
Debt Fair Value	5,115		4,965
Term Loan Facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Carrying Value	3,617		4,953
Debt Fair Value	3,622		4,965
Convertible Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Carrying Value	1,400	$ 1,400	0
Debt Fair Value	$ 1,493		$ 0

Net Income (Loss) Per Share - Computation of Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net Income (Loss)	$ 23	$ 15	$ (1,769)	$ (42)	$ 37	$ (1,812)
Denominator:
Shares used in net income (loss) per common share - basic	67.3		66.8		67.2	66.8
Effect of dilutive securities	0.2		0.0		0.3	0.0
Shares used in net income (loss) per common share - diluted	67.5		66.8		67.5	66.8
Net income (loss) per common share:
Basic	$ 0.34		$ (26.47)		$ 0.56	$ (27.14)
Net income (loss) per common share:
Diluted	$ 0.33		$ (26.47)		$ 0.55	$ (27.14)

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 23	$ 15	$ (1,769)	$ (42)	$ 37	$ (1,812)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 250
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Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
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-Name Accounting Standards Codification
-Section 55
-Paragraph 10
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-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.6-09(1)(d))
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-SubTopic 10
-Name Accounting Standards Codification
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Inventories - Summary of Inventories (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 718	$ 740
Work-in-process	85	94
Finished goods	135	157
Total	$ 938	$ 991

Product Warranties

6 Months Ended

Jun. 30, 2024

Guarantees and Product Warranties [Abstract]

Product Warranties

(9)

Product Warranties

The Company provides for the estimated costs to fulfill customer warranty obligations upon the recognition of the related revenue. The Company’s warranty obligations are affected by shipment volume, product failure rates, utilization levels, material usage and supplier warranties on parts delivered to the Company. Should actual product failure rates, utilization levels, material usage, or supplier warranties on parts differ from the Company’s estimates, revisions to the estimated warranty liability would be required. The Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of its component suppliers.

Product warranty activities were as follows:


	Six Months Ended June 30,
	2024			2023
Beginning of period	$	22		$	27
Provision for product warranties		13			4
Charges to warranty liability		(12	)		(8	)
End of period	$	23		$	23

As of June 30, 2024, short-term product warranties of $14 and long-term product warranties of $9 were included within other current liabilities and other non-current liabilities, respectively, within the accompanying condensed consolidated balance sheet. As of June 30, 2023, short-term product warranties of $17 and long-term product warranties of $6 were included within other current liabilities and other non-current liabilities, respectively, within the accompanying condensed consolidated balance sheet.

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net revenues:
Net revenues	$ 887	$ 1,003	$ 1,755	$ 1,797
Cost of revenues:
Cost of revenues	468	533	921	991
Gross profit	419	470	834	806
Research and development	66	75	136	147
Selling, general and administrative	161	172	331	348
Acquisition and integration costs	2	5	3	11
Restructuring and other	2	11	5	12
Fees and expenses related to amendments to the Term Loan Facility	0	0	3	0
Amortization of intangible assets	61	76	123	157
Goodwill and intangible asset impairments	0	1,827	0	1,827
Income (loss) from operations	127	(1,696)	233	(1,696)
Interest income	(5)	(4)	(11)	(7)
Interest expense	79	88	166	173
Loss on extinguishment of debt	38	0	47	0
Other (income) expense, net	(7)	11	(10)	9
Income (loss) before income taxes	22	(1,791)	41	(1,871)
(Benefit) provision for income taxes	(1)	(22)	4	(59)
Net income (loss)	23	(1,769)	37	(1,812)
Other comprehensive income (loss), net of tax:
Changes in value of financial instruments designated as cash flow hedges	2	44	33	29
Foreign currency translation adjustments	(52)	(218)	(166)	(173)
Change in net investment hedge	8	2	28	(13)
Unrealized (loss) gain on investments	0	(11)	8	(11)
Net unrecognized pension gain (loss)	2	(3)	3	(5)
Total comprehensive (loss) income	$ (17)	$ (1,955)	$ (57)	$ (1,985)
Net income (loss) per share:
Basic	$ 0.34	$ (26.47)	$ 0.56	$ (27.14)
Diluted	$ 0.33	$ (26.47)	$ 0.55	$ (27.14)
Weighted average common shares outstanding:
Basic	67.3	66.8	67.2	66.8
Diluted	67.5	66.8	67.5	66.8
Products [Member]
Net revenues:
Net revenues	$ 770	$ 885	$ 1,524	$ 1,597
Cost of revenues:
Cost of revenues	412	470	810	878
Services [Member]
Net revenues:
Net revenues	117	118	231	200
Cost of revenues:
Cost of revenues	$ 56	$ 63	$ 111	$ 113

Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Other Liabilities, Current [Abstract]

Summary of Other Current Liabilities

Other current liabilities consisted of the following:


	June 30, 2024		December 31, 2023
Accrued compensation and other employee-related obligations	$	110	$	159
Deferred revenue and customer advances		65		77
Income taxes payable		89		57
Lease liabilities		37		30
Other		98		105
Total other current liabilities	$	399	$	428

Derivatives and Net Investment Hedge

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Net Investment Hedge

(5)

Derivatives and Net Investment Hedge

Foreign Exchange Forward Contracts

The Company hedges a portion of its forecasted foreign currency-denominated intercompany sales of inventory, over a maximum period of eighteen months, using foreign exchange forward contracts accounted for as cash-flow hedges. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, and otherwise meet the hedge accounting criteria, changes in the derivatives’ fair value are not included in current earnings but are included in other comprehensive income (“OCI”) in stockholders’ equity. These changes in fair value will subsequently be reclassified into earnings, as applicable, when the forecasted transaction occurs. To the extent that a previously designated hedging transaction is no longer an effective hedge, any ineffectiveness measured in the hedging relationship is recorded in earnings in the period it occurs. The cash flows resulting from foreign exchange forward contracts are classified in the condensed consolidated statements of cash flows as part of cash flows from operating activities. The Company does not enter into derivative instruments for trading or speculative purposes.

The Company also enters into foreign exchange forward contracts to hedge against changes in the balance sheet for certain subsidiaries to mitigate the risk associated with certain foreign currency transactions in the ordinary course of business. These derivatives are not designated as cash flow hedging instruments and gains or losses from these derivatives are recorded immediately in other (income) expense, net.

The following tables summarize the primary net hedging positions and fair values of foreign exchange forward contracts outstanding as of June 30, 2024 and December 31, 2023:


	June 30, 2024
Currency Hedged (Buy/Sell)	Net Notional Value		Fair Value Asset (Liability)
U.S. dollar/Japanese yen	$	31	$	5
U.S. dollar/South Korean won		72		2
U.S. dollar/Taiwan dollar		27		1
U.S. dollar/Singapore dollar		1		—
U.S. dollar/Chinese renminbi		20		—
U.S. dollar/Mexican peso		6		—
U.S. dollar/Thai baht		4		—
U.S. dollar/Hong Kong dollar		1		—
Euro/U.S. dollar		5		—
Euro/Chinese renminbi		2		—
Euro/Canadian dollar		1		—
Malaysian ringgit/U.S. dollar		7		—
Polish zloty/U.S. dollar		1		—
U.K. pound sterling/U.S. dollar		27		—
Canadian dollar/U.S. dollar		1		—
Total	$	206	$	8


	December 31, 2023
Currency Hedged (Buy/Sell)	Net Notional Value		Fair Value (Liability) Asset
U.S. dollar/Japanese yen	$	65	$	—
U.S. dollar/South Korean won		70		(3	)
U.S. dollar/Taiwan dollar		22		—
U.S. dollar/Singapore dollar		1		—
U.S. dollar/Chinese renminbi		8		—
U.S. dollar/Mexican peso		5		—
Euro/U.S. dollar		71		—
Euro/Chinese renminbi		4		—
Euro/Canadian dollar		1		—
U.K. pound sterling/U.S. dollar		19		—
Total	$	266	$	(3	)

The following table summarizes the net gains (losses) on derivatives designated as cash flow hedging instruments:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Foreign exchange forward contracts and interest rate hedges:
Net gains (losses) recognized in accumulated OCI	$	2	$	44	$	33	$	29
Net gains (losses) reclassified from accumulated OCI into income	$	2	$	1	$	1	$	2

In the above table, the Company corrected for immaterial presentation errors in net gains (losses) recognized in accumulated OCI and net gains (losses) reclassified from accumulated OCI into income for the three and six months ended June 30, 2023. The net amount of existing gains as of June 30, 2024 expected to be reclassified from OCI into earnings within the next 12 months is immaterial.

Net Investment Hedges

On January 1, 2023, the Company designated certain Euro-denominated debt as a net investment hedge to hedge a portion of its net investments in certain of its entities with functional currencies denominated in the Euro. On January 22, 2024, the Company prepaid its USD Tranche A in full using, in part, a €250 incremental borrowing under its Euro Tranche B, each as defined and further described in Note 8. On January 22, 2024, the Company designated the additional €250 of its Euro Tranche B as a net investment hedge. As of June 30, 2024, the total principal amount outstanding under its Euro Tranche B was €838 and the entire balance was designated as a net investment hedge. As of December 31, 2023, the total principal amount outstanding under its Euro Tranche B was €593 and the entire balance was designated as a net investment hedge. For these net investment hedges, the Company defers recognition of the foreign currency remeasurement gains and losses within the foreign currency translation adjustment component of OCI.

Interest Rate Agreements

The Company has various interest rate swap agreements that exchange a forward-looking term rate based on the variable secured overnight financing rate (“Term SOFR”) paid on the outstanding balance of its Term Loan Facility, as defined and further described in Note 8, to a fixed rate. The Company acquired USD London Interbank Offered Rate (“LIBOR”) interest rate cap agreements as a result of its acquisition of Atotech Limited (“Atotech”) on August 17, 2022 (the “Atotech Acquisition”) and had utilized these agreements to offset Term SOFR on its Term Loan Facility. Effective June 30, 2023, the Company’s USD LIBOR based interest rate caps were converted to Term SOFR. The Company also had two USD LIBOR based swaps that were converted to Term SOFR, effective June 30, 2023. The conversions from USD LIBOR to Term SOFR did not have a material impact on the Company’s results of operations.

The following table summarizes the terms and fair values of interest rate swaps and interest rate caps outstanding at June 30, 2024 and December 31, 2023:


									June 30, 2024			December 31, 2023
Effective Date	Maturity	Fixed Rate			Notional Amount at Effective Date		Notional Amount at June 30, 2024		Fair Value Asset (Liability)			Fair Value Asset (Liability)
Interest Rate Swaps
June 30, 2023	February 28, 2025		0.391	%	$	200	$	200	$	6		$	9
June 30, 2023	February 28, 2025		0.543	%		300		300		9			14
September 30, 2022	September 30, 2026		3.156	%		350		350		10			5
January 2, 2024	January 31, 2028		2.841	%		250		250		11			7
September 30, 2022	September 30, 2027		3.198	%		350		350		11			5
January 2, 2024	January 31, 2029		2.986	%		250		250		12			6
September 30, 2022	September 30, 2026		3.358	%		600		400		9			5
December 28, 2023	December 31, 2027		4.550	%		500		500		(1	)		(10	)
						2,800		2,600		67			41
Interest Rate Caps
June 30, 2023	January 31, 2024		0.805	%		350		—		—			1
June 30, 2023	January 31, 2024		0.805	%		350		—		—			2
						700		—		—			3
		Total			$	3,500	$	2,600	$	67		$	44

The interest rate swaps are recorded at fair value on the balance sheet and changes in the fair value are recognized in OCI. To the extent these arrangements are no longer effective hedges, the hedging relationship will be discontinued and changes in the fair value of the hedging instruments from the last assessment period that were effective up to the current period will be recorded immediately in earnings. Amounts previously recorded in OCI will remain in OCI and will be reclassified to earnings when the interest payments impact consolidated earnings. If the Company determines that the interest payments are unlikely to occur, amounts previously recorded in OCI will be reclassified to earnings immediately. Changes in the fair value of interest rate caps were recorded immediately in earnings, as the Company did not designate these instruments as hedges and therefore these instruments did not qualify for hedge accounting. The interest rate caps expired on January 31, 2024.

The following table summarizes the net gains (losses) on derivatives not designated as hedging instruments, consisting of balance sheet hedges and interest rate caps:


	Three Months Ended June 30,					Six Months Ended June 30,
	2024		2023			2024			2023
Net gains (losses) recognized in income	$	1	$	(6	)	$	(3	)	$	(16	)

In the above table, the Company corrected for immaterial presentation errors in the net gains (losses) recognized in income for the three and six months ended June 30, 2023.

Debt

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Debt

(8)

Debt

The Company’s outstanding debt is as follows:


	June 30, 2024			December 31, 2023
Short-term debt:
Term Loan Facility	$	50		$	93
Long-term debt:
Term Loan Facility	$	3,567		$	4,860
Debt issuance costs - Term Loan Facility		(107	)		(164	)
Term Loan Facility, net		3,460			4,696
Convertible Notes		1,400			—
Debt issuance costs - Convertible Notes		(28	)		—
Convertible Notes, net		1,372			—
Total long-term debt, net	$	4,832		$	4,696

Credit Facilities

In connection with the completion of the Atotech Acquisition, on August 17, 2022 (the “Effective Date”) the Company entered into a credit agreement with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, Barclays Bank PLC, and the lenders from time to time party thereto (the “Credit Agreement”). The Credit Agreement provided for (i) a senior secured term loan facility comprised of three tranches: a $1,000 loan (the “USD Tranche A”), a $3,600 loan (as further increased, refinanced and otherwise modified as described herein, the “USD Tranche B”) and a €600 loan (as further increased and otherwise modified as described herein, the “Euro Tranche B” and together with the USD Tranche A and the USD Tranche B, the “Term Loan Facility”), each of which were borrowed in full on the Effective Date, and (ii) a senior secured revolving credit facility of $500 (as further increased and otherwise modified as described herein, the “Revolving Facility” and, together with the Term Loan Facility, the “Credit Facilities”), with the commitments under each of the foregoing facilities subject to increase from time to time subject to certain conditions. The proceeds of the Term Loan Facility were used on the Effective Date, among other things, to fund a portion of the consideration payable in connection with the Atotech Acquisition and to refinance the existing term loan and revolving credit facilities of the Company and certain indebtedness of Atotech.

Initially, borrowings under the Credit Facilities bore interest at a rate per annum equal to, at the Company’s option, any of the following, plus, in each case, an applicable margin: (a) with respect to the USD Tranche A, the Revolving Facility and the USD Tranche B, (x) a base rate determined by reference to the highest of (1) the federal funds effective rate plus 0.50%, (2) the prime rate quoted in The Wall Street Journal, or (3) a forward-looking term rate based on Term SOFR (plus an applicable credit spread adjustment) for an interest period of one month, plus 1.00%; and (y) a Term SOFR rate (plus an applicable credit spread adjustment) for the interest period relevant to such borrowing, subject to a rate floor of (I) with respect to the USD Tranche B, 0.50% and (II) with respect to the USD Tranche A and the Revolving Facility, 0.0%; and (b) with respect to the Euro Tranche B, a Euro Interbank Offered Rate (“EURIBOR”) rate determined by reference to the costs of funds for Euro deposits for the interest period relevant to such borrowing adjusted for certain additional costs, subject to a EURIBOR rate floor of 0.0%. Initially, the applicable margins for borrowings under the Credit Facilities were (i) under the USD Tranche A, 1.50% with respect to base rate borrowings and 2.50% with respect to Term SOFR borrowings, (ii) under the USD Tranche B, 1.75% with respect to base rate borrowings and 2.75% with respect to Term SOFR borrowings, (iii) under the Euro Tranche B, 3.00% and (iv) under the Revolving Facility, 1.50% with respect to base rate borrowings and 2.50% with respect to Term SOFR borrowings.

In addition to paying interest on outstanding principal under the Credit Facilities, the Company is required to pay a commitment fee in respect of the unutilized commitments under the Revolving Facility. The commitment fee is 0.375% per annum. The commitment fee is subject to downward adjustment based on the Company’s first lien net leverage ratio as of the end of the preceding fiscal quarter. The Company must also pay customary letter of credit fees and agency fees.

On October 3, 2023 (the “First Amendment Effective Date”), the Company entered into the First Amendment to Credit Agreement (the “First Amendment”), which refinanced all of the $3,564 outstanding USD Tranche B to (i) decrease the applicable margin for the USD Tranche B to 1.50% with respect to base rate borrowings and 2.50% with respect to Term SOFR borrowings and (ii) remove the credit spread adjustment applicable to Term SOFR borrowings of the USD Tranche B.

On January 22, 2024 (the “Second Amendment Effective Date”), the Company entered into the Second Amendment to Credit Agreement (the “Second Amendment”), pursuant to which the Company (i) borrowed additional USD Tranche B loans in an aggregate principal amount of $490 and additional Euro Tranche B loans in an aggregate principal amount of €250 (collectively, the “Incremental Tranche B Loans”) and (ii) used a portion of the proceeds of the Incremental Tranche B Loans to prepay the USD Tranche A in full in an aggregate principal amount of $744.

On February 13, 2024, the Company entered into the Third Amendment to Credit Agreement (the “Third Amendment”), pursuant to which the Company increased the available borrowing capacity under the Revolving Facility by $175 (the “Incremental Revolving Commitments”). As of June 30, 2024, the available borrowing capacity under the Revolving Facility was $675.

The USD Tranche B and the Euro Tranche B were issued on the Effective Date with original issue discount of 2.00% of the principal amounts thereof. The USD Tranche B was issued on the First Amendment Effective Date with original issue discount of 0.25% of the principal amount thereof. The Incremental Tranche B Loans were issued with original issue discount of 0.25% of the principal amount thereof.

The Company incurred $242 of deferred financing fees and original issue discount related to the term loans under the Term Loan Facility funded on the Effective Date, which are included in long-term debt, net in the accompanying consolidated balance sheets and are being amortized to interest expense over the estimated life of the term loans using the effective interest method.

The Company incurred $11 of deferred financing fees and original issue discount related to the USD Tranche B funded on the First Amendment Effective Date, of which $9 is included in long-term debt, net in the accompanying consolidated balance sheets and is being amortized to interest expense over the estimated life of the term loans using the effective interest method. The Company recorded an $8 loss on extinguishment of debt in connection with the First Amendment.

The Company incurred $5 of deferred financing fees and original issue discount related to the Incremental Tranche B Loans funded on the Second Amendment Effective Date, of which $2 is included in long-term debt, net in the accompanying consolidated balance sheets and is being amortized to interest expense over the estimated life of the term loans using the effective interest method. The Company recorded a $9 loss on extinguishment of debt in connection with the Second Amendment.

Under the Credit Agreement, the Company is required to prepay outstanding term loans, subject to certain exceptions, with portions of its annual excess cash flow as well as with the net cash proceeds of certain of its asset sales, certain casualty and condemnation events and the incurrence or issuances of certain debt. If at any time the aggregate amount of outstanding loans, unreimbursed letter of credit drawings and undrawn letters of credit under the Revolving Facility exceeds the aggregate commitments under the Revolving Facility, the Company is required to repay outstanding loans and/or cash collateralize letters of credit, with no reduction of the commitment amount.

The Company may voluntarily prepay outstanding loans under the Credit Facilities from time to time, subject to certain conditions, without premium or penalty other than customary “breakage” costs with respect to Term SOFR or EURIBOR loans; provided, however, that subject to certain exceptions, if on or prior to the date that is six months after the Second Amendment Effective Date, the Company prepays any loans under the USD Tranche B or the Euro Tranche B in connection with a repricing transaction, the Company must pay a prepayment premium of 1.00% of the aggregate principal amount of the loans so prepaid. Additionally, the Company may voluntarily reduce the unutilized portion of the commitment amount under the Revolving Facility.

Prior to the repayment in full of the USD Tranche A, the Company was required to make scheduled quarterly payments each equal to 1.25% of the original principal amount of the USD Tranche A. The Company is required to make scheduled quarterly payments each equal to approximately $10 with respect to the USD Tranche B and approximately €2 with respect to the Euro Tranche B, in each case with the balance due thereunder on the seventh anniversary of the Effective Date.

There is no scheduled amortization under the Revolving Facility. Any principal amount outstanding under the Revolving Facility is due and payable in full on the fifth anniversary of the Effective Date.

All obligations under the Credit Facilities are guaranteed by certain of the Company’s wholly-owned domestic subsidiaries and are required to be guaranteed by certain of the Company’s future wholly-owned domestic subsidiaries, and are secured by substantially all of the Company’s assets and the assets of such subsidiaries, subject to certain exceptions and exclusions.

Under the Credit Agreement, the Company has the ability to incur additional incremental debt facilities in an amount up to (x) the greater of (1) $1,011 and (2) 75% of consolidated earnings before interest, taxes, depreciation, and amortization (“EBITDA”), plus (y) an amount equal to the sum of all voluntary prepayments of term loans under the Term Loan Facility, plus (z) an additional unlimited amount subject to pro forma compliance with certain leverage ratio tests (based on the security and priority of such incremental debt).

Under the USD Tranche A and the Revolving Facility, so long as any USD Tranche A loans (or commitments in respect thereof) are outstanding as of the end of any fiscal quarter, the Company may not allow its total net leverage ratio as of the end of such fiscal quarter to be greater than 5.25 to 1.00 for the fiscal quarters ending December 31, 2023 through September 30, 2024, with an annual step-down of 0.25:1.00 and subject to a step-up of 0.50:1.00 for the four full fiscal quarter period following any material acquisition, not to exceed 5.50 to 1.00.

In addition, in the event there are no loans outstanding under the USD Tranche A, as of the end of any fiscal quarter of the Company when the aggregate amount of loans outstanding under the Revolving Facility (net of (a) all letters of credit (whether cash collateralized or not) and (b) unrestricted cash of the Company and its restricted subsidiaries) exceeds 35% of the aggregate amount of all commitments under the Revolving Facility in effect as of such date, the Company may not allow its first lien net leverage ratio as of the end of each such fiscal quarter to be greater than 6.00 to 1.00.

The USD Tranche B and the Euro Tranche B are not subject to financial maintenance covenants.

The Credit Agreement contains a number of negative covenants that, among other things and subject to certain exceptions, restrict the ability of the Company and each of its subsidiaries to: incur additional indebtedness; pay dividends on its capital stock or redeem, repurchase or retire its capital stock or its subordinated indebtedness; make investments, loans and acquisitions; create restrictions on the payment of dividends or other amounts to the Company from the Company’s restricted subsidiaries or restrictions on the ability of the Company’s restricted subsidiaries to incur liens; engage in transactions with its affiliates; sell assets, including capital stock of its subsidiaries; materially alter the business it conducts; consolidate or merge; incur liens; and engage in sale-leaseback transactions.

The Credit Agreement also contains customary representations and warranties, affirmative covenants and provisions relating to events of default. If an event of default occurs, the lenders under the Credit Facilities will be entitled to take various actions, including the acceleration of amounts due under the Credit Facilities and all actions permitted to be taken by a secured creditor. As of June 30, 2024, the Company was in compliance with all covenants under the Credit Agreement.

The Company paid certain customary fees to and expenses of (i) JPMorgan Chase Bank, N.A., Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., HSBC Securities (USA) Inc. and Mizuho Bank, Ltd. in their respective capacities as lead

arrangers and bookrunners in connection with the Credit Facilities on the Effective Date, (ii) JPMorgan Chase Bank, N.A. in its capacity as lead arranger in connection with each of the First Amendment, the Second Amendment and the Third Amendment and (iii) the lenders providing the Incremental Revolving Commitments pursuant to the Third Amendment.

As described further below under “Convertible Notes,” on May 16, 2024, the Company completed a private offering of convertible senior notes. A significant portion of the net proceeds from the offering was used to repay approximately $1,206 of the USD Tranche B. As a result of the repayment, the Company recorded a $38 loss on extinguishment of debt.

As of June 30, 2024, the weighted average interest rate of the Term Loan Facility was 7.5%. The Revolving Facility has a maturity date in August 2027 while the USD Tranche B and Euro Tranche B have a maturity date in August 2029. As of June 30, 2024, there were no borrowings under the Revolving Facility.

Convertible Notes

On May 16, 2024, the Company completed a private offering of $1,400 aggregate principal amount of its convertible senior notes due 2030 (the “Convertible Notes”). The Convertible Notes were sold in a private placement under a purchase agreement, dated as of May 13, 2024 (the “Purchase Agreement”), entered into by and between the Company and each of Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, BofA Securities, Inc. and Mizuho Securities USA LLC, as representatives of the several initial purchasers named therein, for resale to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended.

The aggregate principal amount of the Convertible Notes sold in the offering was $1,400, which included $200 aggregate principal amount of the Convertible Notes issued pursuant to an option to purchase, within a 13-day period beginning on, and including, the date on which the Convertible Notes were first issued, which the initial purchasers exercised in full on May 14, 2024 and which additional purchase was also completed on May 16, 2024.

The net proceeds from the offering were approximately $1,374 after deducting the initial purchasers’ discounts and commissions and estimated offering expenses paid by the Company. The Company used approximately $167 of the net proceeds from the offering to pay the cost of the capped call transactions described below. The Company used the remaining net proceeds from the offering to repay approximately $1,206 in borrowings outstanding under the USD Tranche B, together with accrued interest, as well as for general corporate purposes.

Indenture and the Convertible Notes

On May 16, 2024, the Company entered into an indenture (the “Indenture”) with respect to the Convertible Notes with U.S. Bank Trust Company, National Association, as trustee (the “Trustee”). Under the Indenture, the Convertible Notes are senior unsecured obligations of the Company and bear interest at a coupon rate of 1.25% per annum, with interest payable semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2024. The Convertible Notes will mature on June 1, 2030, unless earlier converted, redeemed or repurchased in accordance with their terms.

Subject to certain conditions, on or after June 5, 2027, the Company may redeem for cash all or any portion of the Convertible Notes at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the trading day immediately preceding the date the notice of redemption is sent.

The conversion rate for the Convertible Notes is initially 6.4799 shares of the Company’s common stock per one thousand dollars principal amount of the Convertible Notes, which is equivalent to an initial conversion price of approximately $154.32 per share. The conversion rate is subject to adjustment upon the occurrence of certain events.

Upon conversion, the Company will pay cash up to the aggregate principal amount of the Convertible Notes to be converted and pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the Convertible Notes being converted. Prior to March 1, 2030, noteholders may convert all or any portion of their Convertible Notes only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the second scheduled trading day immediately preceding the maturity date.

If the Company undergoes a fundamental change (as defined in the Indenture) prior to the maturity date of the Convertible Notes, holders may require the Company to repurchase for cash all or any portion of their Convertible Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

The Indenture contains customary terms and covenants, including that upon certain events of default that are occurring and continuing, either the Trustee or the holders of at least 25% in aggregate principal amount of the outstanding Convertible Notes may declare 100% of the principal of, and accrued and unpaid interest, if any, on, all the Convertible Notes to be due and payable.

As of June 30, 2024, the Convertible Notes are classified as a long-term liability, net of issuances costs, on the condensed consolidated balance sheet. The Convertible Notes were issued at par and costs associated with the issuance of the Convertible Notes are amortized to interest expense over the contractual term of the Convertible Notes. As of June 30, 2024, the effective interest rate of the Convertible Notes was 1.56%.

Capped Call Transactions

On May 13, 2024, in connection with the pricing of the Convertible Notes, and on May 14, 2024, in connection with the exercise in full by the initial purchasers of their option to purchase additional Convertible Notes, the Company entered into privately negotiated capped call transactions with certain of the initial purchasers of the Convertible Notes or their respective affiliates and other financial institutions. The capped call transactions are expected generally to reduce the potential dilution to the Company’s common stock upon conversion of any Convertible Notes and/or offset any cash payments that the Company is required to make in excess of the principal amount of any converted Convertible Notes, as the case may be, with such reduction and/or offset subject to a cap initially equal to $237.42 per share, which represents a premium of 100% over the last reported sale price of $118.71 per share of the Company’s common stock on The Nasdaq Global Select Market on May 13, 2024, and is subject to customary adjustments under the terms of the capped call transactions.

The Company evaluated the capped call transactions and determined that they should be accounted for separately from the Convertible Notes. The cost of $167 to purchase the capped call transactions was recorded as a reduction to additional paid-in capital in the consolidated balance sheet as of June 30, 2024 as the capped call transactions are indexed to the Company’s own stock and met the criteria to be classified in stockholders' equity.

The Company’s interest expense is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Term Loan Facility:
Contractual interest expense	$	82		$	98		$	177		$	188
Amortization of debt issuance costs as interest expense		7			6			15			14
Total interest expense on Term Loan Facility	$	89		$	104		$	192		$	202
Convertible Notes:
Contractual interest expense	$	2		$	—		$	2		$	—
Amortization of debt issuance costs as interest expense		1			—			1			—
Total interest expense on Convertible Notes	$	3		$	—		$	3		$	—
Other interest expense, net (1)	$	(13	)	$	(16	)	$	(29	)	$	(29	)
Total interest expense	$	79		$	88		$	166		$	173

(1) Other interest expense, net primarily consists of interest (income) expense related to the Company’s interest rate swap and interest rate cap agreements.

Lines of Credit and Borrowing Arrangements

Certain of the Company’s Japanese subsidiaries have lines of credit and a financing facility with various financial institutions, many of which generally expire and are renewed at three-month intervals with the remaining having no expiration date. The lines of credit and financing facility provided for aggregate borrowings as of June 30, 2024 and December 31, 2023 of up to an equivalent of $19 and $14, respectively. There were no borrowings outstanding under these arrangements at June 30, 2024 and December 31, 2023.

Contractual maturities of the Company’s debt obligations as of June 30, 2024 are as follows:


Year	Amount
2024 (remaining)	$	25
2025		50
2026		50
2027		50
2028		50
2029		3,392
Thereafter		1,400

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Derivatives and Net Investment Hedge (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Primary Net Hedging Positions and Fair Values of Foreign Exchange Forward Contracts Outstanding

The following tables summarize the primary net hedging positions and fair values of foreign exchange forward contracts outstanding as of June 30, 2024 and December 31, 2023:


	June 30, 2024
Currency Hedged (Buy/Sell)	Net Notional Value		Fair Value Asset (Liability)
U.S. dollar/Japanese yen	$	31	$	5
U.S. dollar/South Korean won		72		2
U.S. dollar/Taiwan dollar		27		1
U.S. dollar/Singapore dollar		1		—
U.S. dollar/Chinese renminbi		20		—
U.S. dollar/Mexican peso		6		—
U.S. dollar/Thai baht		4		—
U.S. dollar/Hong Kong dollar		1		—
Euro/U.S. dollar		5		—
Euro/Chinese renminbi		2		—
Euro/Canadian dollar		1		—
Malaysian ringgit/U.S. dollar		7		—
Polish zloty/U.S. dollar		1		—
U.K. pound sterling/U.S. dollar		27		—
Canadian dollar/U.S. dollar		1		—
Total	$	206	$	8


	December 31, 2023
Currency Hedged (Buy/Sell)	Net Notional Value		Fair Value (Liability) Asset
U.S. dollar/Japanese yen	$	65	$	—
U.S. dollar/South Korean won		70		(3	)
U.S. dollar/Taiwan dollar		22		—
U.S. dollar/Singapore dollar		1		—
U.S. dollar/Chinese renminbi		8		—
U.S. dollar/Mexican peso		5		—
Euro/U.S. dollar		71		—
Euro/Chinese renminbi		4		—
Euro/Canadian dollar		1		—
U.K. pound sterling/U.S. dollar		19		—
Total	$	266	$	(3	)

Summary of Net Gains (Losses) on Derivatives Designated as Cash Flow Hedging Instruments

The following table summarizes the net gains (losses) on derivatives designated as cash flow hedging instruments:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Foreign exchange forward contracts and interest rate hedges:
Net gains (losses) recognized in accumulated OCI	$	2	$	44	$	33	$	29
Net gains (losses) reclassified from accumulated OCI into income	$	2	$	1	$	1	$	2

Summary of The Terms And Fair Values of Interest Rate Swaps and Interest Rate Caps

The following table summarizes the terms and fair values of interest rate swaps and interest rate caps outstanding at June 30, 2024 and December 31, 2023:


									June 30, 2024			December 31, 2023
Effective Date	Maturity	Fixed Rate			Notional Amount at Effective Date		Notional Amount at June 30, 2024		Fair Value Asset (Liability)			Fair Value Asset (Liability)
Interest Rate Swaps
June 30, 2023	February 28, 2025		0.391	%	$	200	$	200	$	6		$	9
June 30, 2023	February 28, 2025		0.543	%		300		300		9			14
September 30, 2022	September 30, 2026		3.156	%		350		350		10			5
January 2, 2024	January 31, 2028		2.841	%		250		250		11			7
September 30, 2022	September 30, 2027		3.198	%		350		350		11			5
January 2, 2024	January 31, 2029		2.986	%		250		250		12			6
September 30, 2022	September 30, 2026		3.358	%		600		400		9			5
December 28, 2023	December 31, 2027		4.550	%		500		500		(1	)		(10	)
						2,800		2,600		67			41
Interest Rate Caps
June 30, 2023	January 31, 2024		0.805	%		350		—		—			1
June 30, 2023	January 31, 2024		0.805	%		350		—		—			2
						700		—		—			3
		Total			$	3,500	$	2,600	$	67		$	44

Summary of Net Gains (Losses) on Derivatives Not Designated as Hedging Instruments

The following table summarizes the net gains (losses) on derivatives not designated as hedging instruments, consisting of balance sheet hedges and interest rate caps:


	Three Months Ended June 30,					Six Months Ended June 30,
	2024		2023			2024			2023
Net gains (losses) recognized in income	$	1	$	(6	)	$	(3	)	$	(16	)

Business Segment and Geographic Information - Schedule of Reconciles Gross Profit By Reportable Segment To Net Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Gross profit	$ 419		$ 470		$ 834	$ 806
Research and development	66		75		136	147
Selling, general and administrative	161		172		331	348
Acquisition and integration costs	2		5		3	11
Restructuring and other	2		11		5	12
Fees and expenses related to amendments to the term loan facility	0		0		3	0
Amortization of intangible assets	61		76		123	157
Goodwill and intangible asset impairments	0		1,827		0	1,827
Income (loss) from operations	127		(1,696)		233	(1,696)
Interest income	(5)		(4)		(11)	(7)
Interest expense	79		88		166	173
Loss on extinguishment of debt	38		0		47	0
Other (income) expense, net	(7)		11		(10)	9
Income (loss) before income taxes	22		(1,791)		41	(1,871)
(Benefit) provision for income taxes	(1)		(22)		4	(59)
Net income (loss)	23	$ 15	(1,769)	$ (42)	37	(1,812)
VSD [Member]
Segment Reporting Information [Line Items]
Gross profit	142		196		283	310
PSD [Member]
Segment Reporting Information [Line Items]
Gross profit	110		125		227	200
MSD [Member]
Segment Reporting Information [Line Items]
Gross profit	$ 167		$ 149		$ 324	$ 296

Restructuring and Other

6 Months Ended

Jun. 30, 2024

Expense Of Restructuring Activities And Other [Abstract]

Restructuring and Other

(16)

Restructuring and Other

The Company recorded restructuring and other charges of $2 and $5 during the three and six months ended June 30, 2024, respectively, primarily related to severance costs due a global cost-saving initiative implemented in the fourth quarter of 2023. Restructuring and other charges for these periods also included a $1 charge related to a legal matter. The Company recorded restructuring charges of $11 and $12 during the three and six months ended June 30, 2023, respectively, primarily related to severance costs due to global cost-saving initiatives implemented in each of the first and second quarters of 2023.

The activity related to the Company’s restructuring accrual is shown below:


	Six Months Ended June 30,
	2024			2023
Restructuring accrual, beginning of period	$	9		$	3
Charged to expense		4			12
Payments and adjustments		(6	)		(6	)
Restructuring accrual, end of period	$	7		$	9

Derivatives and Net Investment Hedge - Summary of The Terms And Fair Values of Interest Rate Swaps and Interest Rate Caps (Detail) - Incremental Term Loan Facility [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Notional Amount at Effective Date	$ 3,500
Notional Amount	2,600
Fair Value Asset (Liability)	67	$ 44
Interest Rate Swaps [Member]
Derivative [Line Items]
Notional Amount at Effective Date	2,800
Notional Amount	2,600
Fair Value Asset (Liability)	$ 67	41
Interest Rate Swaps [Member] \| Swap Agreement One [Member]
Derivative [Line Items]
Effective Date	Jun. 30, 2023
Maturity	Feb. 28, 2025
Fixed Rate	0.391%
Notional Amount at Effective Date	$ 200
Notional Amount	200
Fair Value Asset (Liability)	$ 6	9
Interest Rate Swaps [Member] \| Swap Agreement Two [Member]
Derivative [Line Items]
Effective Date	Jun. 30, 2023
Maturity	Feb. 28, 2025
Fixed Rate	0.543%
Notional Amount at Effective Date	$ 300
Notional Amount	300
Fair Value Asset (Liability)	$ 9	14
Interest Rate Swaps [Member] \| Swap Agreement Three [Member]
Derivative [Line Items]
Effective Date	Sep. 30, 2022
Maturity	Sep. 30, 2026
Fixed Rate	3.156%
Notional Amount at Effective Date	$ 350
Notional Amount	350
Fair Value Asset (Liability)	$ 10	5
Interest Rate Swaps [Member] \| Swap Agreement Four [Member]
Derivative [Line Items]
Effective Date	Jan. 02, 2024
Maturity	Jan. 31, 2028
Fixed Rate	2.841%
Notional Amount at Effective Date	$ 250
Notional Amount	250
Fair Value Asset (Liability)	$ 11	7
Interest Rate Swaps [Member] \| Swap Agreement Five [Member]
Derivative [Line Items]
Effective Date	Sep. 30, 2022
Maturity	Sep. 30, 2027
Fixed Rate	3.198%
Notional Amount at Effective Date	$ 350
Notional Amount	350
Fair Value Asset (Liability)	$ 11	5
Interest Rate Swaps [Member] \| Swap Agreement Six [Member]
Derivative [Line Items]
Effective Date	Jan. 02, 2024
Maturity	Jan. 31, 2029
Fixed Rate	2.986%
Notional Amount at Effective Date	$ 250
Notional Amount	250
Fair Value Asset (Liability)	$ 12	6
Interest Rate Swaps [Member] \| Swap Agreement Seven [Member]
Derivative [Line Items]
Effective Date	Sep. 30, 2022
Maturity	Sep. 30, 2026
Fixed Rate	3.358%
Notional Amount at Effective Date	$ 600
Notional Amount	400
Fair Value Asset (Liability)	$ 9	5
Interest Rate Swaps [Member] \| Swap Agreement Eight [Member]
Derivative [Line Items]
Effective Date	Dec. 28, 2023
Maturity	Dec. 31, 2027
Fixed Rate	4.55%
Notional Amount at Effective Date	$ 500
Notional Amount	500
Fair Value Asset (Liability)	(1)	(10)
Interest Rate Caps [Member]
Derivative [Line Items]
Notional Amount at Effective Date	700
Notional Amount	0
Fair Value Asset (Liability)	$ 0	3
Interest Rate Caps [Member] \| Swap Agreement One [Member]
Derivative [Line Items]
Effective Date	Jun. 30, 2023
Maturity	Jan. 31, 2024
Fixed Rate	0.805%
Notional Amount at Effective Date	$ 350
Notional Amount	0
Fair Value Asset (Liability)	$ 0	1
Interest Rate Caps [Member] \| Swap Agreement Two [Member]
Derivative [Line Items]
Effective Date	Jun. 30, 2023
Maturity	Jan. 31, 2024
Fixed Rate	0.805%
Notional Amount at Effective Date	$ 350
Notional Amount	0
Fair Value Asset (Liability)	$ 0	$ 2

Revenue from Contracts with Customers - Schedule of Deferred Revenue and Customer Advances by Arrangement (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Jan. 01, 2024	Dec. 31, 2023	Jun. 30, 2023	Jan. 01, 2023
Change in Contract with Customer, Liability [Line Items]
Non-current deferred revenue	$ 2	$ 2		$ 2	$ 2
Deferred revenue and customer advances	65		$ 77
Deferred Revenue [Member]
Change in Contract with Customer, Liability [Line Items]
Deferred revenue and customer advances	$ 65	$ 77		$ 85	$ 94

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Total Stock-Based Compensation Expense Included in Company's Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

The total stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenues	$	2	$	2	$	3	$	3
Research and development		1		2		3		3
Selling, general and administrative		8		9		20		25
Total stock-based compensation expense	$	11	$	13	$	26	$	31

Summary of Activity for RSUs

The following table presents the activity for RSUs under the Plans:


	Six Months Ended June 30, 2024
	Quantity			Weighted Average Grant Date Fair Value Per Share
RSUs – beginning of period		1.0		$	98.36
Granted		0.4		$	122.22
Vested or forfeited		(0.4	)	$	107.17
RSUs – end of period		1.0		$	104.59

Derivatives and Net Investment Hedge - Summary of Net Gains (Losses) on Derivatives Designated as Cash Flow Hedging Instruments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) recognized in accumulated OCI	$ 2	$ 44	$ 33	$ 29
Cash Flow Hedging [Member] \| Foreign Exchange Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) recognized in accumulated OCI	2	44	33	29
Net gains (losses) reclassified from accumulated OCI into income	$ 2	$ 1	$ 1	$ 2
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent

Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

(17)

Commitments and Contingencies

Litigation

The Company is subject to various legal proceedings and claims that have arisen in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s results of operations, financial condition or cash flows.

Business Segment and Geographic Information - Segment Assets by Reportable Segment (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Accounts receivable, net	$ 597	$ 603
Inventories	938	991
Total assets	1,535	1,594
VSD [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Accounts receivable, net	189	181
Inventories	525	553
Total assets	714	734
PSD [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Accounts receivable, net	170	171
Inventories	262	283
Total assets	432	454
MSD [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Accounts receivable, net	238	251
Inventories	151	155
Total assets	$ 389	$ 406

Derivatives and Net Investment Hedge - Additional Information (Detail) € in Millions			6 Months Ended
	Jan. 22, 2024 EUR (€)	Aug. 17, 2022	Jun. 30, 2024 EUR (€) Swaps	Dec. 31, 2023 EUR (€)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Maximum period for hedging a portion of forecasted foreign currency denominated intercompany sales of inventory			18 months
Number Of USD LIBOR based swaps \| Swaps			2
Euro Tranche B [Member] \| Net Investment Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Incremental borrowings	€ 250
Aggregate principal amount of net investment hedge	€ 250		€ 838	€ 593
Atotech [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Business acquisition date		Aug. 17, 2022

Business Segment and Geographic Information - Net Revenues by Reportable Segment (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net revenues	$ 887	$ 1,003	$ 1,755	$ 1,797
VSD [Member]
Segment Reporting Information [Line Items]
Net revenues	335	434	668	738
PSD [Member]
Segment Reporting Information [Line Items]
Net revenues	254	271	507	457
MSD [Member]
Segment Reporting Information [Line Items]
Net revenues	$ 298	$ 298	$ 580	$ 602

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

Assets and liabilities of the Company are measured at fair value on a recurring basis as of June 30, 2024 and are summarized as follows:


			Fair Value Measurements at Reporting Date Using
Description	June 30, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market funds	$	324	$	324	$	—	$	—
Time deposits		21		—		21		—
Equity securities		2		2		—		—
Available-for-sale securities:
Time deposits and certificates of deposit		1		—		1		—
Group insurance contracts		6		—		6		—
Derivatives
Foreign exchange forward contracts		10		—		10		—
Interest rate hedges - current		15		—		15		—
Interest rate hedges - non-current		53		—		53		—
Pension and deferred compensation plan assets		20		—		20		—
Total assets	$	452	$	326	$	126	$	—
Liabilities:
Derivatives
Foreign exchange forward contracts-current	$	2	$	—	$	2	$	—
Interest rate hedges-non-current		1		—		1		—
Total liabilities	$	3	$	—	$	3	$	—
Reported as follows:
Assets:
Cash and cash equivalents(1)	$	345	$	324	$	21	$	—
Short-term investments		1		—		1		—
Other current assets		25		—		25		—
Total current assets	$	371	$	324	$	47	$	—
Other assets	$	81	$	2	$	79	$	—
Liabilities:
Other current liabilities	$	2	$	—	$	2	$	—
Other non-current liabilities	$	1	$	—	$	1	$	—

(1) The cash and cash equivalents amount presented in the table above does not include cash of $505 as of June 30, 2024.

Assets and liabilities of the Company are measured at fair value on a recurring basis as of December 31, 2023 and are summarized as follows:


			Fair Value Measurements at Reporting Date Using
Description	December 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market funds	$	356	$	356	$	—	$	—
Time deposits		12		—		12		—
Available-for-sale securities:
Group insurance contracts		6		—		6		—
Derivatives
Foreign exchange forward contracts		2		—		2		—
Interest rate hedge - current		3		—		3		—
Interest rate hedge - non-current		41		—		41		—
Pension and deferred compensation plan assets		19		—		19		—
Total assets	$	439	$	356	$	83	$	—
Liabilities:
Derivatives
Foreign exchange forward contracts	$	5	$	—	$	5	$	—
Total liabilities	$	5	$	—	$	5	$	—
Reported as follows:
Assets:
Cash and cash equivalents (1)	$	368	$	356	$	12	$	—
Other current assets		5		—		5		—
Total current assets	$	373	$	356	$	17	$	—
Other assets	$	66	$	—	$	66	$	—
Liabilities:
Other current liabilities	$	5	$	—	$	5	$	—

(1) The cash and cash equivalents amount presented in the table above does not include cash of $507 as of December 31, 2023.

Schedule of Estimated Carrying Value and Fair Value of Company's Debt

The estimated carrying value and fair value of the Company’s debt as of June 30, 2024 and December 31, 2023 are as follows:


	June 30, 2024				December 31, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
Term Loan Facility	$	3,617	$	3,622	$	4,953	$	4,965
Convertible Notes		1,400		1,493		—		—
Total	$	5,017	$	5,115	$	4,953	$	4,965

Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, net	$ 4,832	$ 4,696
Term Loan Facility [Member]
Debt Instrument [Line Items]
Term Loan Facility, net	3,567	4,860
Debt issuance costs	(107)	(164)
Long-term debt, net	3,460	4,696
Convertible Notes [Member]
Debt Instrument [Line Items]
Debt issuance costs	(28)	0
Convertible Notes, net	1,400	0
Long-term debt, net	$ 1,372	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Restructuring and Other - Schedule of Company's Restructuring Activity (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring accrual beginning of period	$ 9	$ 3
Charged to expense	4	12
Payments and adjustments	(6)	(6)
Restructuring accrual end of period	$ 7	$ 9

Business Segment and Geographic Information - Summary of Goodwill Associated with Reportable Segments (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Beginning balance, Goodwill Gross Carrying Amount	$ 4,387
Foreign currency translation	(59)
Ending balance, Goodwill Gross Carrying Amount	4,328
Beginning balance, Accumulated Impairment Loss	(1,833)
Ending balance, Accumulated Impairment Loss	(1,833)
Goodwill, net of accumulated impairment and foreign currency translation, at June 30, 2024	2,495	$ 2,554
Vacuum Solutions Division [Member]
Segment Reporting Information [Line Items]
Beginning balance, Goodwill Gross Carrying Amount	359
Foreign currency translation	(1)
Ending balance, Goodwill Gross Carrying Amount	358
Beginning balance, Accumulated Impairment Loss	(141)
Ending balance, Accumulated Impairment Loss	(141)
Goodwill, net of accumulated impairment and foreign currency translation, at June 30, 2024	217
Photonics Solutions Division [Member]
Segment Reporting Information [Line Items]
Beginning balance, Goodwill Gross Carrying Amount	1,007
Foreign currency translation	(2)
Ending balance, Goodwill Gross Carrying Amount	1,005
Beginning balance, Accumulated Impairment Loss	(390)
Ending balance, Accumulated Impairment Loss	(390)
Goodwill, net of accumulated impairment and foreign currency translation, at June 30, 2024	615
Materials Solutions Division [Member]
Segment Reporting Information [Line Items]
Beginning balance, Goodwill Gross Carrying Amount	3,021
Foreign currency translation	(56)
Ending balance, Goodwill Gross Carrying Amount	2,965
Beginning balance, Accumulated Impairment Loss	(1,302)
Ending balance, Accumulated Impairment Loss	(1,302)
Goodwill, net of accumulated impairment and foreign currency translation, at June 30, 2024	$ 1,663

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Short-Term Debt

The Company’s outstanding debt is as follows:


	June 30, 2024			December 31, 2023
Short-term debt:
Term Loan Facility	$	50		$	93
Long-term debt:
Term Loan Facility	$	3,567		$	4,860
Debt issuance costs - Term Loan Facility		(107	)		(164	)
Term Loan Facility, net		3,460			4,696
Convertible Notes		1,400			—
Debt issuance costs - Convertible Notes		(28	)		—
Convertible Notes, net		1,372			—
Total long-term debt, net	$	4,832		$	4,696

Schedule of Contractual Maturities of Debt Obligations

Contractual maturities of the Company’s debt obligations as of June 30, 2024 are as follows:


Year	Amount
2024 (remaining)	$	25
2025		50
2026		50
2027		50
2028		50
2029		3,392
Thereafter		1,400

Schedule of Interest Expense

The Company’s interest expense is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Term Loan Facility:
Contractual interest expense	$	82		$	98		$	177		$	188
Amortization of debt issuance costs as interest expense		7			6			15			14
Total interest expense on Term Loan Facility	$	89		$	104		$	192		$	202
Convertible Notes:
Contractual interest expense	$	2		$	—		$	2		$	—
Amortization of debt issuance costs as interest expense		1			—			1			—
Total interest expense on Convertible Notes	$	3		$	—		$	3		$	—
Other interest expense, net (1)	$	(13	)	$	(16	)	$	(29	)	$	(29	)
Total interest expense	$	79		$	88		$	166		$	173

(1) Other interest expense, net primarily consists of interest (income) expense related to the Company’s interest rate swap and interest rate cap agreements.

Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

(18)

Subsequent Event

On July 23, 2024 (the “Fourth Amendment Effective Date”), the Company entered into the Fourth Amendment to the Credit Agreement (the “Fourth Amendment”). Pursuant to the Fourth Amendment, the Company (i) refinanced its existing USD Tranche B loan and Euro Tranche B loan with a new $2,650 USD Tranche B loan and a new €800 Euro Tranche B loan, (ii) decreased the applicable margin for the USD Tranche B from 2.50% to 2.25% with respect to Term SOFR borrowings and from 1.50% to 1.25% with respect to base rate borrowings, (iii) decreased the applicable margin for the Euro Tranche B from 3.00% to 2.75% and (iv) extended the period during which a 1.00% prepayment premium may be required if the Company prepays any loans under the USD Tranche B or the Euro Tranche B in connection with a repricing transaction until the date that is six months following the Fourth Amendment Effective Date. In connection with the execution of the Fourth Amendment, the Company paid customary fees and expenses to JPMorgan Chase Bank, N.A.

On July 23, 2024, immediately prior to the effectiveness of the Fourth Amendment, the Company made a voluntary prepayment of $110 aggregate principal amount under the Term Loan Facility, consisting of $69 principal amount of its USD Tranche B loan and €38 principal amount of its Euro Tranche B loan.

Stock-Based Compensation

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

(13)

Stock-Based Compensation

Prior to May 10, 2022, the Company granted RSUs to employees and directors under the 2014 Stock Incentive Plan (the “2014 Plan”). Following shareholder approval of the 2022 Stock Incentive Plan (the “2022 Plan” and, together with the 2014 Plan, the “Plans”) on May 10, 2022, the Company discontinued granting RSUs to employees and directors under the 2014 Plan and began granting them under the 2022 Plan. The Plans are administered by the Compensation Committee of the Company’s Board of Directors. The Plans are intended to attract and retain employees and directors, and to provide an

incentive for these individuals to assist the Company to achieve long-range performance goals and enable these individuals to participate in the long-term growth of the Company.

The total stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenues	$	2	$	2	$	3	$	3
Research and development		1		2		3		3
Selling, general and administrative		8		9		20		25
Total stock-based compensation expense	$	11	$	13	$	26	$	31

At June 30, 2024, the total compensation expense related to unvested stock-based awards granted to employees and directors under the Plans that had not been recognized was $66. Stock-based awards include (i) time-based RSUs, (ii) performance-based RSUs based on the achievement of adjusted EBITDA targets (the “Adjusted EBITDA RSUs”), (iii) performance-based RSUs based on the Company’s total shareholder return relative to a group of peers over a three-year performance period (the “rTSR RSUs”) and (iv) employee stock purchase plan rights. The Company determines the fair value of time-based RSUs based on the closing market price of the Company’s common stock on the date of the award. The Company determines the original fair value of Adjusted EBITDA RSUs based upon the closing market price of the Company’s stock on the date of the award and adjusts the fair value quarterly during the first year based upon actual and forecasted results against Adjusted EBITDA targets. The Company estimates the fair value of rTSR RSUs using the Monte Carlo simulation model, which requires the use of highly subjective and complex assumptions, including the price volatility of the underlying stock. The Company estimates the fair value of employee stock purchase plan rights using the Black-Scholes valuation method. Such values are recognized as expense on a straight-line basis for time-based awards and rTSR RSUs and using the accelerated graded vesting method for Adjusted EBITDA RSUs, all over the requisite service periods.

The following table presents the activity for RSUs under the Plans:


	Six Months Ended June 30, 2024
	Quantity			Weighted Average Grant Date Fair Value Per Share
RSUs – beginning of period		1.0		$	98.36
Granted		0.4		$	122.22
Vested or forfeited		(0.4	)	$	107.17
RSUs – end of period		1.0		$	104.59

Business Segment and Geographic Information - Reconciles Total Segment Assets to Total Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Total segment assets	$ 1,535	$ 1,594
Cash and cash equivalents	850	875
Other current assets	262	227
Property, plant and equipment, net	759	784
Right-of-use assets, net	229	225
Other assets	314	240
Total assets	8,863	9,118
Segment Reconciling Items [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	851	875
Other current assets	262	227
Property, plant and equipment, net	759	784
Right-of-use assets, net	229	225
Goodwill and intangible assets, net	4,913	5,173
Other assets	314	240
Total assets	$ 8,863	$ 9,118

Business Segment and Geographic Information - Schedule of Net Revenues and Long-Lived Assets by Geographic Regions (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 887	$ 1,003	$ 1,755	$ 1,797
Long-lived assets	1,084		1,084		$ 1,097
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	202	265	421	452
Long-lived assets	462		462		459
China [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	199	200	369	360
Long-lived assets	165		165		163
South Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	82	90	170	169
Taiwan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	62	65	110	128
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	55	82	112	140
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	136		136		149
Singapore [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	55	69	111	124
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	232	$ 232	462	$ 424
Long-lived assets	$ 321		$ 321		$ 326

Business Segment and Geographic Information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Business Segment and Geographic Information

(15)

Business Segment and Geographic Information

The Company has three reportable segments: VSD, PSD and MSD. The Company’s CODM, which is the Company’s Chief Executive Officer, utilizes financial information to make decisions about allocating resources and assessing performance for the entire Company, which is used in the decision-making process to assess performance and allocate resources to the three segments.

Reportable Segments

VSD delivers foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging and specialty industrial applications. VSD products are derived from the Company’s core competencies in pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and delivery, power generation and delivery, temperature sensing, and vacuum technology.

PSD provides a full range of solutions including lasers, beam measurement and profiling, precision motion control, vibration isolation systems, photonics instruments, opto-mechanical components, optical elements, laser-based systems for flexible printed circuit board (“PCB”) processing, and laser-based systems for high density interconnect PCB and package substrate manufacturing.

MSD develops leading process and manufacturing technologies for advanced surface modification, electroless and electrolytic plating, and surface finishing. Applying a comprehensive systems-and-solutions approach, MSD’s portfolio includes chemistry, equipment, software, and services for innovative and high-technology applications in a wide variety of end markets.

The Company derives its segment results directly from the manner in which results are reported in its management reporting system. The accounting policies that the Company uses to derive reportable segment results are substantially the same as those used for external reporting purposes. The Company groups similar products within its three reportable segments.

During the quarter ended March 31, 2024, the Company moved its OSP product line from the PSD segment to the VSD segment. The purpose of this realignment was to better align the OSP products with semiconductor related products within the VSD segment. Prior periods have been recast to reflect this change.

The following table sets forth net revenues by reportable segment:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
VSD	$	335	$	434	$	668	$	738
PSD		254		271		507		457
MSD		298		298		580		602
	$	887	$	1,003	$	1,755	$	1,797

The following table reconciles gross profit by reportable segment to net income (loss):


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Gross profit by reportable segment:
VSD	$	142		$	196		$	283		$	310
PSD		110			125			227			200
MSD		167			149			324			296
Total gross profit by reportable segment		419			470			834			806
Operating expenses:
Research and development		66			75			136			147
Selling, general and administrative		161			172			331			348
Acquisition and integration costs		2			5			3			11
Restructuring and other		2			11			5			12
Fees and expenses related to amendments to the Term Loan Facility		—			—			3			—
Amortization of intangible assets		61			76			123			157
Goodwill and intangible asset impairments		—			1,827			—			1,827
Income (loss) from operations		127			(1,696	)		233			(1,696	)
Interest income		(5	)		(4	)		(11	)		(7	)
Interest expense		79			88			166			173
Loss on extinguishment of debt		38			—			47			—
Other (income) expense, net		(7	)		11			(10	)		9
Income (loss) before income taxes		22			(1,791	)		41			(1,871	)
(Benefit) provision for income taxes		(1	)		(22	)		4			(59	)
Net income (loss)	$	23		$	(1,769	)	$	37		$	(1,812	)

Interest income, interest expense and income tax (benefit) provision are not presented by reportable segment because the necessary information is not classified within the segments nor used by the CODM.

The following table sets forth segment assets by reportable segment:


June 30, 2024	Accounts receivable, net		Inventories		Total
VSD	$	189	$	525	$	714
PSD		170		262		432
MSD		238		151		389
Total segment assets	$	597	$	938	$	1,535


December 31, 2023	Accounts receivable, net		Inventories		Total
VSD	$	181	$	553	$	734
PSD		171		283		454
MSD		251		155		406
Total segment assets	$	603	$	991	$	1,594

The following table reconciles total segment assets to total assets:


	June 30, 2024		December 31, 2023
Total segment assets	$	1,535	$	1,594
Cash and cash equivalents and short-term investments		851		875
Other current assets		262		227
Property, plant and equipment, net		759		784
Right-of-use assets, net		229		225
Goodwill and intangible assets, net		4,913		5,173
Other assets		314		240
Total assets	$	8,863	$	9,118

Goodwill associated with each of the Company’s reportable segments is as follows:


	VSD			PSD			MSD			Total
Reportable segment:
Gross goodwill, at December 31, 2023	$	359		$	1,007		$	3,021		$	4,387
Foreign currency translation		(1	)		(2	)		(56	)		(59	)
Gross goodwill, at June 30, 2024		358			1,005			2,965			4,328
Accumulated goodwill impairment, at December 31, 2023 and June 30, 2024		(141	)		(390	)		(1,302	)		(1,833	)
Goodwill, net of accumulated impairment and foreign currency translation, at June 30, 2024	$	217		$	615		$	1,663		$	2,495

Geographic Area

Information about the Company’s operations by geographic area is presented in the tables below. Starting in the second quarter of 2024, the Company changed its basis of reporting geographical net revenues from the location in which the sale originated to the shipped-to location of the end customer. Prior periods have been recast to reflect this change, which was made to better align with how management reviews geographic net revenues. Intercompany sales between geographic areas are at tax transfer prices and have been eliminated from consolidated net revenues.


	Three Months Ended June 30,				Six Months Ended June 30,
Net revenues:	2024		2023		2024		2023
United States	$	202	$	265	$	421	$	452
China		199		200		369		360
South Korea		82		90		170		169
Taiwan		62		65		110		128
Japan		55		82		112		140
Singapore		55		69		111		124
Other		232		232		462		424
	$	887	$	1,003	$	1,755	$	1,797

Long-lived assets include property, plant and equipment, net, right-of-use assets, net and certain other assets, and exclude goodwill, intangible assets and long-term tax-related accounts.


Long-lived assets:	June 30, 2024		December 31, 2023
United States	$	462	$	459
China		165		163
Germany		136		149
Other		321		326
	$	1,084	$	1,097

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividend, per common share	$ 0.22	$ 0.22	$ 0.22	$ 0.22

Product Warranties - Product Warranty Activities (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Product Warranty Liability [Table]
Beginning of period	$ 22	$ 27
Provision for product warranties	13	4
Charges to warranty liability	(12)	(8)
End of period	$ 23	$ 23

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 7	$ 6
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	67,300,000	66,900,000
Common stock, shares outstanding	67,300,000	66,900,000

Other Current Liabilities

6 Months Ended

Jun. 30, 2024

Other Liabilities, Current [Abstract]

Other Current Liabilities

(10)

Other Current Liabilities

Other current liabilities consisted of the following:


	June 30, 2024		December 31, 2023
Accrued compensation and other employee-related obligations	$	110	$	159
Deferred revenue and customer advances		65		77
Income taxes payable		89		57
Lease liabilities		37		30
Other		98		105
Total other current liabilities	$	399	$	428

Inventories

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventories

(6)

Inventories

Inventories consist of the following:


	June 30, 2024		December 31, 2023
Raw materials	$	718	$	740
Work-in-process		85		94
Finished goods		135		157
Total	$	938	$	991

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 850	$ 875
Short-term investments	1	0
Accounts receivable, net of allowance for doubtful accounts of $7 and $6 at June 30, 2024 and December 31, 2023, respectively	597	603
Inventories	938	991
Other current assets	262	227
Total current assets	2,648	2,696
Property, plant and equipment, net	759	784
Right-of-use assets, net	229	225
Goodwill	2,495	2,554
Intangible assets, net	2,418	2,619
Other assets	314	240
Total assets	8,863	9,118
Current liabilities:
Short-term debt	50	93
Accounts payable	291	327
Other current liabilities	399	428
Total current liabilities	740	848
Long-term debt, net	4,832	4,696
Non-current deferred taxes	588	640
Non-current accrued compensation	144	151
Non-current lease liabilities	202	205
Other non-current liabilities	124	106
Total liabilities	6,630	6,646
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, $0.01 par value per share, 2 shares authorized; no shares issued and outstanding	0	0
Common stock, no par value, 200 shares authorized; 67.3 and 66.9 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	0	0
Additional paid-in capital	2,042	2,195
Retained earnings	381	373
Accumulated other comprehensive (loss) income	(190)	(96)
Total stockholders’ equity	2,233	2,472
Total liabilities and stockholders’ equity	$ 8,863	$ 9,118

Other Current Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other Liabilities, Current [Abstract]
Accrued compensation and other employee-related obligations	$ 110	$ 159
Deferred revenue and customer advances	65	77
Income taxes payable	89	57
Lease liabilities	$ 37	$ 30
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total other current liabilities	Total other current liabilities
Other	$ 98	$ 105
Total other current liabilities	$ 399	$ 428

Derivatives and Net Investment Hedge - Summary of Primary Net Hedging Positions and Fair Values of Foreign Exchange Forward Contracts Outstanding (Detail) - Foreign Exchange Forward Contracts [Member] - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	$ 206	$ 266
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	8	(3)
U.S. Dollar/Japanese Yen [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	31	65
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	5	0
U.S. Dollar/South Korean Won [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	72	70
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	2	(3)
U.S. Dollar/Taiwan Dollar [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	27	22
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	1	0
U.S. Dollar/Singapore Dollar [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	1	1
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0	0
U.S. Dollar/Chinese Renminbi [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	20	8
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0	0
U.S. Dollar/Mexican Peso [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	6	5
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0	0
U.S. dollar/Thai baht [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	4
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0
U.S. dollar/Hong Kong dollar [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	1
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0
Euro/U.S. Dollar [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	5	71
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0	0
Euro/Chinese Renminbi [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	2	4
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0	0
Euro/Canadian Dollar [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	1	1
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0	0
Malaysian ringgit/U.S. dollar [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	7
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0
Polish zloty/U.S. dollar [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	1
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0
U.K. Pound Sterling/U.S. Dollar [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	27	19
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	0	$ 0
Canadian dollar/U.S. dollar [Member]
Derivative [Line Items]
Currency Hedged (Buy/Sell), Net Notional Value	1
Currency Hedged (Buy/Sell), Fair Value, (Liability)/Asset, Net	$ 0

Acquisition - Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Acquisition Date [Line Items]
Goodwill	$ 2,495	$ 2,554

- Definition

+ References + Details

Stockholders' Equity - Additional Information (Detail) - USD ($)			3 Months Ended				6 Months Ended
	Aug. 06, 2024	Jul. 25, 2011	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Common stock, value of shares authorized to repurchase		$ 200,000,000
Stock repurchase, shares		2,600,000	0		0		0	0
Value of shares repurchased		$ 127,000,000
Cash dividends per common share			$ 0.22	$ 0.22	$ 0.22	$ 0.22
Dividend payment to common shareholders							$ 30,000,000	$ 29,000,000
Forecast [Member]
Class of Stock [Line Items]
Dividend declared date	Aug. 05, 2024
Cash dividend to be paid	$ 0.22
Dividend to be paid date	Sep. 06, 2024
Dividend declared, shareholders of record date	Aug. 26, 2024

Fair Value Measurements - Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 1	$ 0
Fair Value Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	345	368
Equity securities	2
Pension and deferred compensation plan assets	20	19
Total assets	452	439
Total liabilities	3	5
Short-term investments	1
Other current assets	25	5
Total current assets	371	373
Other assets	81	66
Other current liabilities	2	$ 5
Other non-current liabilities	$ 1
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities	Liabilities
Fair Value Measurements, Recurring [Member] \| Interest Rate Hedge [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives-interest rate hedge - current	$ 15	$ 3
Derivatives-interest rate hedge - non-current	53	41
Derivatives - interest rate hedge - non-current	1
Fair Value Measurements, Recurring [Member] \| Foreign Exchange Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives-foreign exchange forward contracts	10	2
Derivatives- foreign exchange forward contracts-current	2	5
Fair Value Measurements, Recurring [Member] \| Group Insurance Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	6	6
Fair Value Measurements, Recurring [Member] \| Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	324	356
Fair Value Measurements, Recurring [Member] \| Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	21	12
Fair Value Measurements, Recurring [Member] \| Time Deposits and Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1
Fair Value Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	324	356
Equity securities	2
Pension and deferred compensation plan assets	0	0
Total assets	326	356
Total liabilities	0	0
Short-term investments	0
Other current assets	0	0
Total current assets	324	356
Other assets	2	0
Other current liabilities	0	$ 0
Other non-current liabilities	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities	Liabilities
Fair Value Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Interest Rate Hedge [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives-interest rate hedge - current	$ 0	$ 0
Derivatives-interest rate hedge - non-current	0	0
Derivatives - interest rate hedge - non-current	0
Fair Value Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Foreign Exchange Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives-foreign exchange forward contracts	0	0
Derivatives- foreign exchange forward contracts-current	0	0
Fair Value Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Group Insurance Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Fair Value Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	324	356
Fair Value Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Time Deposits and Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0
Fair Value Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	21	12
Equity securities	0
Pension and deferred compensation plan assets	20	19
Total assets	126	83
Total liabilities	3	5
Short-term investments	1
Other current assets	25	5
Total current assets	47	17
Other assets	79	66
Other current liabilities	2	$ 5
Other non-current liabilities	$ 1
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities	Liabilities
Fair Value Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Interest Rate Hedge [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives-interest rate hedge - current	$ 15	$ 3
Derivatives-interest rate hedge - non-current	53	41
Derivatives - interest rate hedge - non-current	1
Fair Value Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Foreign Exchange Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives-foreign exchange forward contracts	10	2
Derivatives- foreign exchange forward contracts-current	2	5
Fair Value Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Group Insurance Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	6	6
Fair Value Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	21	12
Fair Value Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Time Deposits and Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1
Fair Value Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity securities	0
Pension and deferred compensation plan assets	0	0
Total assets	0	0
Total liabilities	0	0
Short-term investments	0
Other current assets	0	0
Total current assets	0	0
Other assets	0	0
Other current liabilities	0	$ 0
Other non-current liabilities	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities	Liabilities
Fair Value Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Interest Rate Hedge [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives-interest rate hedge - current		$ 0
Derivatives-interest rate hedge - non-current	$ 0	0
Derivatives - interest rate hedge - non-current	0
Fair Value Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Foreign Exchange Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives-foreign exchange forward contracts	0	0
Derivatives- foreign exchange forward contracts-current	0	0
Fair Value Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Group Insurance Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Fair Value Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	$ 0
Fair Value Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Time Deposits and Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 0

Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

(3)

Revenue from Contracts with Customers

Contract assets as of June 30, 2024 and December 31, 2023 were $22 and $26, respectively. A roll-forward of the Company’s deferred revenue and customer advances is as follows:


	Six Months Ended
	June 30, 2024			June 30, 2023
Beginning balance, January 1(1)	$	79		$	96
Additions to deferred revenue and customer advances		60			84
Amount of deferred revenue and customer advances recognized in income		(72	)		(93	)
Ending balance, June 30(2)	$	67		$	87

(1)

(2)

Revenue from certain custom products, including MSD plating equipment, and revenue from certain service contracts are recorded over time. Remaining product and services revenues are recorded at a point in time.

Disaggregation of Revenue

The following tables summarize product and service revenue from contracts with customers in MKS’ three reportable segments.


	Three Months Ended June 30, 2024
	VSD		PSD		MSD		Total
Net revenues:
Products	$	276	$	210	$	284	$	770
Services		59		44		14		117
Total net revenues	$	335	$	254	$	298	$	887


	Three Months Ended June 30, 2023
	VSD		PSD		MSD		Total
Net revenues:
Products	$	373	$	228	$	284	$	885
Services		61		43		14		118
Total net revenues	$	434	$	271	$	298	$	1,003


	Six Months Ended June 30, 2024
	VSD		PSD		MSD		Total
Net revenues:
Products	$	550	$	424	$	550	$	1,524
Services		118		83		30		231
Total net revenues	$	668	$	507	$	580	$	1,755


	Six Months Ended June 30, 2023
	VSD		PSD		MSD		Total
Net revenues:
Products	$	635	$	387	$	575	$	1,597
Services		103		70		27		200
Total net revenues	$	738	$	457	$	602	$	1,797

The following table summarizes revenue from contracts with customers in the Company’s three end markets: Semiconductor, Electronics and Packaging, and Specialty Industrial.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Semiconductor	$	369	$	441	$	720	$	750
Electronics and Packaging		229		225		437		447
Specialty Industrial		289		337		598		600
	$	887	$	1,003	$	1,755	$	1,797

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//606/tableOfContent

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Stock-Based Compensation - Summary of Activity for RSUs (Detail) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs, beginning of period \| shares	1,000,000
Granted \| shares	400,000
Vested or forfeited \| shares	(400,000)
RSU, end of period \| shares	1,000,000
RSUs, Weighted Average Grant Date Fair Value, Beginning of period \| $ / shares	$ 98.36
Weighted Average Grant Date Fair Value, Granted \| $ / shares	122.22
Weighted Average Grant Date Fair Value, Vested and Forfeited \| $ / shares	107.17
RSUs, Weighted Average Grant Date Fair Value, end of period \| $ / shares	$ 104.59

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

(12)

Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share:


	Three Months Ended June 30,					Six Months Ended June 30,
	2024		2023			2024		2023
Numerator:
Net income (loss)	$	23	$	(1,769	)	$	37	$	(1,812	)
Denominator:
Shares used in net income (loss) per common share – basic		67.3		66.8			67.2		66.8
Effect of dilutive securities		0.2		—			0.3		—
Shares used in net income (loss) per common share – diluted		67.5		66.8			67.5		66.8
Net income (loss) per common share:
Basic	$	0.34	$	(26.47	)	$	0.56	$	(27.14	)
Diluted	$	0.33	$	(26.47	)	$	0.55	$	(27.14	)

Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding during the period.

Diluted net income (loss) per common share is computed by dividing the diluted net income (loss) available to common shareholders by the weighted-average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period. The dilutive effect of equity awards is calculated based on the average stock price for the relevant period, using the treasury stock method. In periods in which a net loss is recognized, the impact of restricted stock units (“RSUs”) is not included as they are antidilutive. The dilutive effect of the Convertible Notes is calculated under the if-converted method.

For the three and six months ended June 30, 2024, the Company had an immaterial quantity of RSUs that were antidilutive and were excluded from the computation of diluted weighted-average shares. For the three months ended June 30, 2024, the Convertible Notes were antidilutive and were excluded from the computation of diluted weighted-average shares.

Revenue from Contracts with Customers - Summary of Product and Service Revenue from Contracts with Customers (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Net revenues	$ 887	$ 1,003	$ 1,755	$ 1,797
Products [Member]
Disaggregation of Revenue [Line Items]
Net revenues	770	885	1,524	1,597
Services [Member]
Disaggregation of Revenue [Line Items]
Net revenues	117	118	231	200
VSD [Member]
Disaggregation of Revenue [Line Items]
Net revenues	335	434	668	738
VSD [Member] \| Products [Member]
Disaggregation of Revenue [Line Items]
Net revenues	276	373	550	635
VSD [Member] \| Services [Member]
Disaggregation of Revenue [Line Items]
Net revenues	59	61	118	103
PSD [Member]
Disaggregation of Revenue [Line Items]
Net revenues	254	271	507	457
PSD [Member] \| Products [Member]
Disaggregation of Revenue [Line Items]
Net revenues	210	228	424	387
PSD [Member] \| Services [Member]
Disaggregation of Revenue [Line Items]
Net revenues	44	43	83	70
MSD [Member]
Disaggregation of Revenue [Line Items]
Net revenues	298	298	580	602
MSD [Member] \| Products [Member]
Disaggregation of Revenue [Line Items]
Net revenues	284	284	550	575
MSD [Member] \| Services [Member]
Disaggregation of Revenue [Line Items]
Net revenues	$ 14	$ 14	$ 30	$ 27

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Fair Value Measurements - Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Cash not subject to fair value disclosure requirements	$ 505	$ 507

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rates	(3.60%)	1.20%	8.90%	3.20%
(Benefit) provision for income taxes	$ (1)	$ (22)	$ 4	$ (59)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 37	$ (1,812)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	175	208
Goodwill and intangible asset impairments	0	1,827
Unrealized loss (gain) on derivatives not designated as hedging instruments	0	20
Amortization of debt issuance costs and original issue discount	16	15
Loss on extinguishment of debt	47	0
Stock-based compensation	26	31
Provision for excess and obsolete inventory	25	30
Deferred income taxes	(95)	(120)
Other	4	1
Changes in operating assets and liabilities
Accounts receivable	(11)	80
Inventories	13	(94)
Other current and non-current assets	23	(11)
Accounts payable	(30)	(108)
Accrued compensation	(48)	(35)
Income taxes payable	33	(56)
Other current and non-current liabilities	(26)	2
Net cash provided by (used in) operating activities	189	(22)
Cash flows from investing activities:
Proceeds from sale of long-lived assets	1	1
Purchases of property, plant and equipment	(45)	(35)
Net cash used in investing activities	(44)	(34)
Cash flows from financing activities:
Proceeds from borrowings	2,161	1
Payments of borrowings	(2,075)	(45)
Purchase of capped calls related to Convertible Notes	(167)	0
Payments of deferred financing fees	(33)	0
Dividend payments	(30)	(29)
Net (payments) proceeds related to employee stock awards	(11)	(5)
Other financing activities	(4)	0
Net cash used in financing activities	(159)	(78)
Effect of exchange rate changes on cash and cash equivalents	(11)	(18)
Decrease in cash and cash equivalents	(25)	(152)
Cash and cash equivalents at beginning of period	875	909
Cash and cash equivalents at end of period	$ 850	$ 757

Inventories (Tables)

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories consist of the following:


	June 30, 2024		December 31, 2023
Raw materials	$	718	$	740
Work-in-process		85		94
Finished goods		135		157
Total	$	938	$	991

Goodwill and Intangible Assets - Estimated Net Amortization Expense (Detail) $ in Millions	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remaining)	$ 124
2025	245
2026	241
2027	240
2028	240
2029	238
Thereafter	$ 1,034

Goodwill and Intangible Assets - Goodwill (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance, Goodwill Gross Carrying Amount	$ 4,387
Foreign currency translation and measurement period adjustments, Gross Carrying Amount	(59)
Ending balance, Goodwill Gross Carrying Amount	4,328
Beginning balance, Accumulated Impairment Loss	(1,833)
Foreign currency translation and measurement period adjustments, Accumulated Impairment Loss	0
Ending balance, Accumulated Impairment Loss	(1,833)
Beginning balance, Goodwill Net	2,554
Foreign currency translation and measurement period adjustments, Net	(59)
Ending balance, Goodwill Net	$ 2,495

- Definition

+ References + Details

Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

(11)

Income Taxes

The Company’s effective tax rates for the three and six months ended June 30, 2024 were (3.6)% and 8.9% respectively. The Company’s effective tax rates for the three and six months ended June 30, 2024 were lower than the U.S. statutory tax rate mainly due to the tax benefit related to the U.S. deduction for foreign derived intangible income (“FDII”) and research and development tax credits, partially offset by an expected increase in foreign withholding taxes and U.S. base erosion and anti-abuse tax.

The Company’s effective tax rates for the three and six months ended June 30, 2023 were 1.2% and 3.2%, respectively. The goodwill impairment relating to the electronics and general metal finishing reporting units of MSD and the equipment solutions reporting unit of PSD was considered non-deductible goodwill for tax purposes and therefore no tax benefit was recorded related to the goodwill impairment. The tax effect of the impairment of the intangible assets was discretely recorded in its entirety during the three months ended June 30, 2023. The Company’s tax benefits of $22 for the three months ended June 30, 2023 and $59 for the six months ended June 30, 2023 were primarily due to the loss from operations and the impairment of intangible assets for these periods. The Company’s effective tax rates for the three and six months ended June 30, 2023 were lower than the U.S. statutory tax rate primarily due to the tax benefit related to the impairment of intangible assets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill And Intangible Assets [Line Items]
Amortization of intangible assets	$ 61	$ 76	$ 123	$ 157
Finite-Lived Intangible Assets, Accumulated Amortization	981		981		$ 858
Un-amortized finite-lived intangible assets	3,721		3,721		$ 3,721
Goodwill and intangible asset impairments	0	1,827	0	1,827
In-process Research and Development [Member]
Goodwill And Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization		9		9
Equipment Solutions Business [Member] \| Completed Technology [Member]
Goodwill And Intangible Assets [Line Items]
Intangible assets fair value		20		20
Impairment		$ 152
Intangible assets useful life future undiscounted cash flows		7 years
Weighted-average revenue growth rate future undiscounted cash flows		8.00%
Discount rate future undiscounted cash flows		13.50%
Electronics [Member]
Goodwill And Intangible Assets [Line Items]
Impairment		$ 826
Electronics [Member] \| In-process Research and Development [Member]
Goodwill And Intangible Assets [Line Items]
Intangible assets fair value		72		$ 72
Impairment		$ 49
Discount rate future undiscounted cash flows		12.50%
Electronics [Member] \| In-process Research and Development [Member] \| Maximum [Member]
Goodwill And Intangible Assets [Line Items]
Intangible assets useful life future undiscounted cash flows		2 years
Trademarks and Trade Names [Member]
Goodwill And Intangible Assets [Line Items]
Un-amortized Intangible assets, net	$ 56		$ 56

Business Segment and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Net Revenues, Assets and Goodwill by Reportable Segment

The following table sets forth net revenues by reportable segment:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
VSD	$	335	$	434	$	668	$	738
PSD		254		271		507		457
MSD		298		298		580		602
	$	887	$	1,003	$	1,755	$	1,797

The following table sets forth segment assets by reportable segment:


June 30, 2024	Accounts receivable, net		Inventories		Total
VSD	$	189	$	525	$	714
PSD		170		262		432
MSD		238		151		389
Total segment assets	$	597	$	938	$	1,535


December 31, 2023	Accounts receivable, net		Inventories		Total
VSD	$	181	$	553	$	734
PSD		171		283		454
MSD		251		155		406
Total segment assets	$	603	$	991	$	1,594

Goodwill associated with each of the Company’s reportable segments is as follows:


	VSD			PSD			MSD			Total
Reportable segment:
Gross goodwill, at December 31, 2023	$	359		$	1,007		$	3,021		$	4,387
Foreign currency translation		(1	)		(2	)		(56	)		(59	)
Gross goodwill, at June 30, 2024		358			1,005			2,965			4,328
Accumulated goodwill impairment, at December 31, 2023 and June 30, 2024		(141	)		(390	)		(1,302	)		(1,833	)
Goodwill, net of accumulated impairment and foreign currency translation, at June 30, 2024	$	217		$	615		$	1,663		$	2,495

Schedule of Reconciles Gross Profit By Reportable Segment To Net Income (Loss)

The following table reconciles gross profit by reportable segment to net income (loss):


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Gross profit by reportable segment:
VSD	$	142		$	196		$	283		$	310
PSD		110			125			227			200
MSD		167			149			324			296
Total gross profit by reportable segment		419			470			834			806
Operating expenses:
Research and development		66			75			136			147
Selling, general and administrative		161			172			331			348
Acquisition and integration costs		2			5			3			11
Restructuring and other		2			11			5			12
Fees and expenses related to amendments to the Term Loan Facility		—			—			3			—
Amortization of intangible assets		61			76			123			157
Goodwill and intangible asset impairments		—			1,827			—			1,827
Income (loss) from operations		127			(1,696	)		233			(1,696	)
Interest income		(5	)		(4	)		(11	)		(7	)
Interest expense		79			88			166			173
Loss on extinguishment of debt		38			—			47			—
Other (income) expense, net		(7	)		11			(10	)		9
Income (loss) before income taxes		22			(1,791	)		41			(1,871	)
(Benefit) provision for income taxes		(1	)		(22	)		4			(59	)
Net income (loss)	$	23		$	(1,769	)	$	37		$	(1,812	)

Reconciles Total Segment Assets to Total Assets

The following table reconciles total segment assets to total assets:


	June 30, 2024		December 31, 2023
Total segment assets	$	1,535	$	1,594
Cash and cash equivalents and short-term investments		851		875
Other current assets		262		227
Property, plant and equipment, net		759		784
Right-of-use assets, net		229		225
Goodwill and intangible assets, net		4,913		5,173
Other assets		314		240
Total assets	$	8,863	$	9,118

Goodwill associated with each of the Company’s reportable segments is as follows:


	VSD			PSD			MSD			Total
Reportable segment:
Gross goodwill, at December 31, 2023	$	359		$	1,007		$	3,021		$	4,387
Foreign currency translation		(1	)		(2	)		(56	)		(59	)
Gross goodwill, at June 30, 2024		358			1,005			2,965			4,328
Accumulated goodwill impairment, at December 31, 2023 and June 30, 2024		(141	)		(390	)		(1,302	)		(1,833	)
Goodwill, net of accumulated impairment and foreign currency translation, at June 30, 2024	$	217		$	615		$	1,663		$	2,495

Schedule of Net Revenues and Long-Lived Assets by Geographic Regions

Intercompany sales between geographic areas are at tax transfer prices and have been eliminated from consolidated net revenues.


	Three Months Ended June 30,				Six Months Ended June 30,
Net revenues:	2024		2023		2024		2023
United States	$	202	$	265	$	421	$	452
China		199		200		369		360
South Korea		82		90		170		169
Taiwan		62		65		110		128
Japan		55		82		112		140
Singapore		55		69		111		124
Other		232		232		462		424
	$	887	$	1,003	$	1,755	$	1,797


Long-lived assets:	June 30, 2024		December 31, 2023
United States	$	462	$	459
China		165		163
Germany		136		149
Other		321		326
	$	1,084	$	1,097

Debt - Schedule of Short-Term Debt (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Short Term Debt [Line Items]
Short-term debt	$ 50	$ 93
Term Loan Facility [Member]
Short Term Debt [Line Items]
Short-term debt	$ 50	$ 93

Debt - Lines of Credit and Borrowing Arrangements - Additional Information (Detail) - Revolving Lines of Credit [Member] - Japan [Member] - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Aggregate borrowings expire and renewal period	3 months
Borrowing capacity in the form of letters of credit	$ 19,000,000	$ 14,000,000
Total borrowings outstanding	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Net Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share:


	Three Months Ended June 30,					Six Months Ended June 30,
	2024		2023			2024		2023
Numerator:
Net income (loss)	$	23	$	(1,769	)	$	37	$	(1,812	)
Denominator:
Shares used in net income (loss) per common share – basic		67.3		66.8			67.2		66.8
Effect of dilutive securities		0.2		—			0.3		—
Shares used in net income (loss) per common share – diluted		67.5		66.8			67.5		66.8
Net income (loss) per common share:
Basic	$	0.34	$	(26.47	)	$	0.56	$	(27.14	)
Diluted	$	0.33	$	(26.47	)	$	0.55	$	(27.14	)

Product Warranties - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Other Current Liabilities [Member]
Product Warranty Liability [Line Items]
Short-term product warranties	$ 14	$ 17
Other Noncurrent Liabilities [Member]
Product Warranty Liability [Line Items]
Long-term product warranties	$ 9	$ 6

Stock-Based Compensation - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Total compensation expense related to unvested stock-based awards granted to employees, officers and directors	$ 66
Perfomance period	3 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Derivatives and Net Investment Hedge - Summary of Net Gains (Losses) on Derivatives Not Designated as Hedging Instruments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivatives not Designated as Hedging Instruments [Member]
Derivative Instruments Gain Loss Not Designated As Hedging Instruments [Line Items]
Net gains (losses) recognized in income	$ 1	$ (6)	$ (3)	$ (16)

Product Warranties (Tables)

6 Months Ended

Jun. 30, 2024

Guarantees and Product Warranties [Abstract]

Product Warranty Activities

Product warranty activities were as follows:


	Six Months Ended June 30,
	2024			2023
Beginning of period	$	22		$	27
Provision for product warranties		13			4
Charges to warranty liability		(12	)		(8	)
End of period	$	23		$	23

Revenue from Contracts with Customers - Summary of Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 887	$ 1,003	$ 1,755	$ 1,797
Semiconductor [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	369	441	720	750
Electronics and Packaging [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	229	225	437	447
Specialty Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 289	$ 337	$ 598	$ 600

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details