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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 499 $ 479
Accounts receivable, net of allowances of $9 and $5 at December 31, 2024 and 2023, respectively 1,444 1,395
Inventories 143 150
Contract assets 453 436
Prepaid expenses and other current assets 119 122
Total current assets 2,658 2,582
Property and equipment, net 379 385
Operating lease right-of-use assets 268 233
Goodwill 2,894 2,471
Intangible assets, net 1,660 1,620
Deferred tax assets 57 113
Pension and post-retirement assets 120 111
Other assets 116 75
Total assets 8,152 7,590
Current liabilities:    
Short-term and current portion of long-term debt 4 5
Accounts payable 497 472
Contingent consideration and compensation liabilities 20 22
Accrued salaries and wages 381 363
Contract liabilities 590 526
Operating and finance leases 90 75
Other accrued liabilities 303 344
Total current liabilities 1,885 1,807
Long-term debt, less current portion 2,749 2,322
Pension and post-retirement obligations 48 50
Contingent consideration and compensation liabilities 22 11
Operating and finance leases 192 172
Deferred tax liabilities 198 233
Other noncurrent liabilities 105 127
Total liabilities 5,199 4,722
Commitments and contingencies (Note 18) 0 0
Mezzanine equity:    
5.5% Series B Redeemable Convertible Preferred Stock, $0.0001 par value; 0 and 800,000 shares issued and outstanding at December 31, 2024 and 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 December 31, 2024 and 2023 0 0
Common stock, $0.0001 par value; 500,000,000 authorized shares; 274,778,327 shares and 235,575,316 shares issued at December 31, 2024 and 2023, respectively (excluding 7,944,104 and 8,281,148 shares declared for stock dividend at December 31, 2024 and 2023, respectively) 0 0
Additional paid-in capital 3,305 2,572
Retained earnings (accumulated deficit) 215 (11)
Accumulated other comprehensive loss (567) (490)
Total shareholders’ equity 2,953 2,071
Total liabilities, redeemable convertible preferred stock, and shareholders’ equity $ 8,152 $ 7,590