v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income $ 54 $ 75
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 60 40
Deferred tax (benefit) charge (28) 3
Equity-based compensation 17 19
Allowance for credit losses 2 2
Loss on early extinguishment of debt 0 2
Fair value movement on earnout derivative liabilities (31) (74)
Other, net (1) 8
Changes in working capital:    
Accounts receivable (151) (136)
Prepaid expenses and other current assets (47) (8)
Due from affiliates (3) (2)
Due to affiliates (2) 13
Accounts payable, accrued expenses and other current liabilities 123 86
Defined benefit pension funding (8) (6)
Proceeds from termination of interest rate swap contracts 0 31
Net cash (used in) from operating activities (15) 53
Investing activities:    
Business acquisition, net of cash and restricted cash acquired 10 0
Purchase of property and equipment (37) (27)
Proceeds from foreign exchange forward contracts 0 9
Net cash used in investing activities (27) (18)
Financing activities:    
Proceeds from senior secured term loans 132 99
Repayment of senior secured term loans (36) (103)
Repurchase of common shares (38) (1)
Contributions for ESPP 4 4
Payment of taxes withheld on vesting of equity awards (14) (24)
Other 1 0
Net cash from (used in) financing activities 49 (25)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (6) 6
Net increase in cash, cash equivalents and restricted cash 1 16
Cash, cash equivalents and restricted cash, beginning of period 479 561
Cash, cash equivalents and restricted cash, end of period 480 577
Supplemental cash flow information:    
Cash paid for income taxes (net of refunds) 3 4
Cash paid for interest (net of interest received) 25 30
Non-cash additions for operating lease right-of-use assets 4 0
Non-cash additions for finance lease 0 1
Cash, cash equivalents and restricted cash consist of:    
Cash and cash equivalents 442  
Cash and cash equivalents (included within held for sale assets) 5  
Restricted cash (included in other non-current assets) 33  
Cash, cash equivalents and restricted cash $ 480 $ 577