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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 247 $ 479
Accounts receivable, net of allowances of $5 and $5 at March 31, 2024 and December 31, 2023, respectively 1,256 1,395
Inventories 148 150
Contract assets 458 436
Prepaid expenses and other current assets 123 122
Total current assets 2,232 2,582
Property and equipment, net 375 385
Operating lease right of use assets 234 233
Goodwill 2,471 2,471
Intangible assets, net 1,549 1,620
Deferred tax assets 115 113
Pension and post-retirement assets 106 111
Other assets 110 75
Total assets 7,192 7,590
Current liabilities:    
Short-term and current portion of long-term debt 105 5
Accounts payable 382 472
Contingent consideration and compensation liabilities 21 22
Accrued salaries and wages 241 363
Contract liabilities 542 526
Operating and finance leases 75 75
Other accrued liabilities 288 344
Total current liabilities 1,654 1,807
Long-term debt, less current portion 2,624 2,322
Pension and post-retirement obligations 48 50
Contingent consideration and compensation liabilities 17 11
Operating and finance leases 173 172
Deferred tax liabilities 236 233
Other noncurrent liabilities 139 127
Total liabilities 4,891 4,722
Commitments and contingencies (Note 14)
5.5% Series B Redeemable Convertible Preferred Stock, $0.0001 par value, 800,000 authorized shares, 0 and 800,000 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 0 797
Shareholders’ equity:    
Series A Preferred Stock, $0.0001 par value; 7,000,000 authorized shares; 4,000,000 shares issued and outstanding at March 31, 2024 and December 31, 2023 0 0
Common stock; $0.0001 par value, 500,000,000 authorized shares, 261,636,951 shares and 235,575,316 shares issued at March 31, 2024 and December 31, 2023, respectively (excluding 8,281,148 shares declared for stock dividend at December 31, 2023) 0 0
Additional paid-in capital 2,814 2,572
Retained earnings (accumulated deficit) 10 (11)
Accumulated other comprehensive loss (523) (490)
Total shareholders’ equity 2,301 2,071
Total liabilities, redeemable convertible preferred stock, and shareholders’ equity $ 7,192 $ 7,590