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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net revenues:        
Net revenues $ 887 $ 1,003 $ 1,755 $ 1,797
Cost of revenues:        
Cost of revenues 468 533 921 991
Gross profit 419 470 834 806
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 0 0 3 0
Amortization of intangible assets 61 76 123 157
Goodwill and intangible asset impairments 0 1,827 0 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 0 47 0
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)
Other comprehensive income (loss), net of tax:        
Changes in value of financial instruments designated as cash flow hedges 2 44 33 29
Foreign currency translation adjustments (52) (218) (166) (173)
Change in net investment hedge 8 2 28 (13)
Unrealized (loss) gain on investments 0 (11) 8 (11)
Net unrecognized pension gain (loss) 2 (3) 3 (5)
Total comprehensive (loss) income $ (17) $ (1,955) $ (57) $ (1,985)
Net income (loss) per share:        
Basic $ 0.34 $ (26.47) $ 0.56 $ (27.14)
Diluted $ 0.33 $ (26.47) $ 0.55 $ (27.14)
Weighted average common shares outstanding:        
Basic 67.3 66.8 67.2 66.8
Diluted 67.5 66.8 67.5 66.8
Products [Member]        
Net revenues:        
Net revenues $ 770 $ 885 $ 1,524 $ 1,597
Cost of revenues:        
Cost of revenues 412 470 810 878
Services [Member]        
Net revenues:        
Net revenues 117 118 231 200
Cost of revenues:        
Cost of revenues $ 56 $ 63 $ 111 $ 113