v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net income (loss) $ 75 $ (19)
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Depreciation and amortization 40 47
Deferred tax charge 3 17
Equity-based compensation 19 18
Allowance for credit losses 2 4
Loss on early extinguishment of debt 2 0
Fair value movement on earnout derivative liabilities (74) (18)
Other, net 39 (9)
Changes in working capital:    
Accounts receivable (136) (95)
Prepaid expenses and other current assets (8) (43)
Due from affiliates (2) 5
Due to affiliates 13 5
Accounts payable, accrued expenses and other current liabilities 86 144
Defined benefit pension funding (6) (7)
Net cash from operating activities 53 49
Investing activities:    
Purchase of property and equipment (27) (25)
Proceeds from foreign exchange forward contracts 9 0
Net cash used in investing activities (18) (25)
Financing activities:    
Proceeds from senior secured term loans 99 0
Repayment of senior secured term loans (103) (1)
Repurchase of common shares (1) 0
Contributions for ESPP and proceeds from exercise of stock options 4 4
Payment of taxes withheld on vesting of equity awards (24) (12)
Other 0 (1)
Net cash used in financing activities (25) (10)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 6 (5)
Net increase in cash, cash equivalents and restricted cash 16 9
Cash, cash equivalents and restricted cash, beginning of period 561 489
Cash, cash equivalents and restricted cash, end of period 577 498
Supplemental cash flow information:    
Cash paid (received) for income taxes, net 4 (11)
Cash paid for interest (net of interest received) 30 34
Non-cash additions for operating lease right-of-use assets 0 6
Non-cash additions for finance lease $ 1 $ 0