v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 414 $ 493
Accounts receivable, net 256 251
Inventories 5 13
Other current assets 98 80
Total current assets 773 837
Property and equipment, net 191 198
Right of use assets - operating lease, net 8 7
Goodwill 397 399
Capitalized contract costs, net 39 42
Deferred income taxes 166 209
Other assets 84 87
Total assets 1,658 1,779
Current liabilities    
Current portion of long-term debt 0 25
Current portion of finance lease liability 46 50
Current portion of operating lease liability 2 2
Accounts payable 55 96
Payroll and benefits liabilities 91 120
Deferred revenue 560 533
Other current liabilities 91 88
Total current liabilities 845 914
Long-term debt 0 431
Finance lease liability 45 45
Operating lease liability 6 4
Pension and other postemployment plan liabilities 111 114
Long-term deferred revenue 12 11
Deferred tax liabilities 12 12
Other liabilities 34 18
Total liabilities 1,065 1,549
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, 2026 and December 31, 2025, respectively 0 0
Common stock: par value $0.01 per share, 500.0 shares authorized, 93.4 and 92.5 shares issued at June 30, 2026 and December 31, 2025, respectively 1 1
Paid-in capital 2,361 2,305
Accumulated deficit (1,617) (1,923)
Accumulated other comprehensive loss (152) (153)
Total stockholders’ equity 593 230
Total liabilities and stockholders’ equity $ 1,658 $ 1,779