v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 369 $ 420
Accounts receivable, net 293 234
Inventories 5 18
Other current assets 90 77
Total current assets 757 749
Property and equipment, net 205 185
Right of use assets - operating lease, net 9 8
Goodwill 400 394
Capitalized contract costs, net 37 46
Deferred income taxes 231 226
Other assets 98 96
Total assets 1,737 1,704
Current liabilities    
Current portion of long-term debt 25 25
Current portion of finance lease liability 60 57
Current portion of operating lease liability 4 4
Accounts payable 115 106
Payroll and benefits liabilities 84 111
Deferred revenue 521 512
Other current liabilities 89 115
Total current liabilities 898 930
Long-term debt 443 455
Finance lease liability 46 30
Operating lease liability 5 5
Pension and other postemployment plan liabilities 108 104
Long-term deferred revenue 12 10
Deferred tax liabilities 10 9
Other liabilities 39 28
Total liabilities 1,561 1,571
Commitments and contingencies (Note 8)
Stockholders’ equity    
Preferred stock: par value $0.01 per share, 100.0 shares authorized, no shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 0 0
Common stock: par value $0.01 per share, 500.0 shares authorized, 94.7 and 95.1 shares issued at June 30, 2025 and December 31, 2024, respectively 1 1
Paid-in capital 2,244 2,192
Accumulated deficit (1,932) (1,913)
Accumulated other comprehensive loss (137) (147)
Total stockholders’ equity 176 133
Total liabilities and stockholders’ equity $ 1,737 $ 1,704