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Business Segment and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2024

The following table sets forth net revenues by reportable segment:

The following table sets forth segment assets by reportable segment:

Goodwill associated with each of the Company’s reportable segments is as follows:


	VSD			PSD			MSD			Total
Reportable segment:
Gross goodwill, at December 31, 2023	$	359		$	1,007		$	3,021		$	4,387
Foreign currency translation		(1	)		(2	)		(56	)		(59	)
Gross goodwill, at June 30, 2024		358			1,005			2,965			4,328
Accumulated goodwill impairment, at December 31, 2023 and June 30, 2024		(141	)		(390	)		(1,302	)		(1,833	)
Goodwill, net of accumulated impairment and foreign currency translation, at June 30, 2024	$	217		$	615		$	1,663		$	2,495

The following table reconciles gross profit by reportable segment to net income (loss):


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Gross profit by reportable segment:
VSD	$	142		$	196		$	283		$	310
PSD		110			125			227			200
MSD		167			149			324			296
Total gross profit by reportable segment		419			470			834			806
Operating expenses:
Research and development		66			75			136			147
Selling, general and administrative		161			172			331			348
Acquisition and integration costs		2			5			3			11
Restructuring and other		2			11			5			12
Fees and expenses related to amendments to the Term Loan Facility		—			—			3			—
Amortization of intangible assets		61			76			123			157
Goodwill and intangible asset impairments		—			1,827			—			1,827
Income (loss) from operations		127			(1,696	)		233			(1,696	)
Interest income		(5	)		(4	)		(11	)		(7	)
Interest expense		79			88			166			173
Loss on extinguishment of debt		38			—			47			—
Other (income) expense, net		(7	)		11			(10	)		9
Income (loss) before income taxes		22			(1,791	)		41			(1,871	)
(Benefit) provision for income taxes		(1	)		(22	)		4			(59	)
Net income (loss)	$	23		$	(1,769	)	$	37		$	(1,812	)

The following table reconciles total segment assets to total assets:


	June 30, 2024		December 31, 2023
Total segment assets	$	1,535	$	1,594
Cash and cash equivalents and short-term investments		851		875
Other current assets		262		227
Property, plant and equipment, net		759		784
Right-of-use assets, net		229		225
Goodwill and intangible assets, net		4,913		5,173
Other assets		314		240
Total assets	$	8,863	$	9,118

Goodwill associated with each of the Company’s reportable segments is as follows:


	VSD			PSD			MSD			Total
Reportable segment:
Gross goodwill, at December 31, 2023	$	359		$	1,007		$	3,021		$	4,387
Foreign currency translation		(1	)		(2	)		(56	)		(59	)
Gross goodwill, at June 30, 2024		358			1,005			2,965			4,328
Accumulated goodwill impairment, at December 31, 2023 and June 30, 2024		(141	)		(390	)		(1,302	)		(1,833	)
Goodwill, net of accumulated impairment and foreign currency translation, at June 30, 2024	$	217		$	615		$	1,663		$	2,495

Intercompany sales between geographic areas are at tax transfer prices and have been eliminated from consolidated net revenues.