v3.25.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net revenues:        
Net revenues $ 973 $ 887 $ 1,910 $ 1,755
Cost of revenues:        
Cost of revenues 520 468 1,013 921
Gross profit 453 419 897 834
Research and development 76 66 145 136
Selling, general and administrative 175 161 361 331
Acquisition and integration costs 0 2 0 3
Restructuring and other 5 2 21 5
Fees and expenses related to amendments to the Term Loan Facility 0 0 2 3
Amortization of intangible assets 62 61 122 123
Income from operations 135 127 246 233
Interest income (4) (5) (7) (11)
Interest expense 55 79 108 166
Loss on extinguishment of debt 2 38 5 47
Other expense (income), net 10 (7) 9 (10)
Income before income taxes 72 22 131 41
Provision (benefit) for income taxes 10 (1) 17 4
Net income 62 23 114 37
Other comprehensive income (loss), net of tax:        
Changes in value of financial instruments designated as cash flow hedges (9) 2 (25) 33
Foreign currency translation adjustments 190 (52) 245 (166)
Change in net investment hedge (40) 8 (60) 28
Unrecognized pension gain (loss) 0 0 4 8
Unrealized gain on investments 0 2 0 3
Total comprehensive income (loss) $ 203 $ (17) $ 278 $ (57)
Net income per share:        
Basic $ 0.92 $ 0.34 $ 1.69 $ 0.56
Diluted $ 0.92 $ 0.33 $ 1.69 $ 0.55
Weighted average common shares outstanding:        
Basic 67.2 67.3 67.3 67.2
Diluted 67.4 67.5 67.5 67.5
Products [Member]        
Net revenues:        
Net revenues $ 848 $ 770 $ 1,668 $ 1,524
Cost of revenues:        
Cost of revenues 463 412 900 810
Services [Member]        
Net revenues:        
Net revenues 125 117 242 231
Cost of revenues:        
Cost of revenues $ 57 $ 56 $ 113 $ 111