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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 487 $ 479
Accounts receivable, net of allowances of $4 and $5 at September 30, 2024 and December 31, 2023, respectively 1,344 1,395
Inventories 155 150
Contract assets 553 436
Prepaid expenses and other current assets 152 122
Total current assets 2,691 2,582
Property and equipment, net 387 385
Operating lease right of use assets 264 233
Goodwill 2,931 2,471
Intangible assets, net 1,732 1,620
Deferred tax assets 68 113
Pension and post-retirement assets 103 111
Other assets 69 75
Total assets 8,245 7,590
Current liabilities:    
Short-term and current portion of long-term debt 5 5
Accounts payable 454 472
Contingent consideration and compensation liabilities 20 22
Accrued salaries and wages 342 363
Contract liabilities 570 526
Operating and finance leases 89 75
Other accrued liabilities 301 344
Total current liabilities 1,781 1,807
Long-term debt, less current portion 2,847 2,322
Pension and post-retirement obligations 52 50
Contingent consideration and compensation liabilities 23 11
Operating and finance leases 193 172
Deferred tax liabilities 248 233
Other noncurrent liabilities 134 127
Total liabilities 5,278 4,722
Commitments and contingencies (Note 14)
Mezzanine equity:    
5.5% Series B Redeemable Convertible Preferred Stock, $0.0001 par value, 0 and 800,000 shares issued and outstanding at September 30, 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 September 30, 2024 and December 31, 2023 0 0
Common stock; $0.0001 par value, 500,000,000 authorized shares, 274,761,552 shares and 235,575,316 shares issued at September 30, 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 3,300 2,572
Retained earnings (accumulated deficit) 148 (11)
Accumulated other comprehensive loss (481) (490)
Total shareholders’ equity 2,967 2,071
Total liabilities, redeemable convertible preferred stock, and shareholders’ equity $ 8,245 $ 7,590