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Segments (Tables)
3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Business Segment Information

Business Segment Information

 

(IN MILLIONS)

 

 

Three Months Ended March 31,

 

 

 

 

 

 

2022

 

 

 

2021

 

 

Revenues

 

$

877

 

 

$

863

 

 

Operating income

 

 

197

 

 

 

253

 

 

Depreciation and amortization

 

 

130

 

 

 

127

 

 

Restructuring charges (1)

 

 

12

 

 

 

 

 

Share-based compensation expense

 

 

8

 

 

 

7

 

 

Other items (2)

 

 

25

 

 

 

1

 

 

Adjusted EBITDA (3)

 

$

372

 

 

$

388

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets as of March 31, 2022

 

$

10,882

 

 

 

 

 

 

 

 

Total assets as of December 31, 2021

 

 

 

 

 

$

10,820

 

 

 

    

 

(1)

For the three months ended March 31, 2022, restructuring charges primarily consist of real estate consolidation.

 

(2)

For the three months ended March 31, 2022, other items primarily consist of business optimization costs and transaction related costs, including costs related to the Proposed Transaction. For the three months ended March 31, 2021, other items primarily consist of business optimization costs and transaction related costs.

 

(3)

The CODM uses Adjusted EBITDA to measure performance and allocate resources from period to period