REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS (Tables)

6 Months Ended

Sep. 30, 2022

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS

Schedule of revision to financial statements

(Dollars in millions)	Three Months Ended September 30, 2021
Consolidated Income Statement	As Previously Reported		Adjustments		As Revised
Cost of services	$	4,074	$	(3)	$	4,071
Total costs and expenses		5,047		(3)		5,045
Income (loss) before income taxes		(469)		3		(466)
Provision for income taxes		223		1		224
Net income (loss)		(692)		2		(690)

(Dollars in millions)	Six Months Ended September 30, 2021
Consolidated Income Statement	As Previously Reported		Adjustments		As Revised
Cost of services	$	8,241	$	(8)	$	8,233
Total costs and expenses		10,118		(8)		10,110
Income (loss) before income taxes		(787)		8		(780)
Provision for income taxes		298		2		300
Net income (loss)		(1,085)		6		(1,079)

(Dollars in millions)	Three Months Ended September 30, 2021
Consolidated Statement of Comprehensive Income (Loss)	As Previously Reported		Adjustments		As Revised
Net income (loss)	$	(692)	$	2	$	(690)
Foreign currency translation adjustments		(125)		(2)		(127)
Other comprehensive income (loss), before tax		(110)		(2)		(112)
Other comprehensive income (loss), net of tax		(113)		(2)		(115)
Total comprehensive income (loss)		(805)		—		(805)

(Dollars in millions)	Six Months Ended September 30, 2021
Consolidated Statement of Comprehensive Income (Loss)	As Previously Reported		Adjustments		As Revised
Net income (loss)	$	(1,085)	$	6	$	(1,079)
Foreign currency translation adjustments		(107)		(3)		(110)
Other comprehensive income (loss), before tax		(87)		(3)		(90)
Other comprehensive income (loss), net of tax		(91)		(3)		(94)
Total comprehensive income (loss)		(1,176)		2		(1,173)

(Dollars in millions)	At September 30, 2021
Consolidated Balance Sheet	As Previously Reported		Adjustments		As Revised
Accrued contract costs	$	570	$	(76)	$	494
Total current liabilities		3,709		(76)		3,632
Other liabilities		255		19		274
Total liabilities		6,581		(57)		6,524
Net Parent investment		7,045		57		7,102
Accumulated other comprehensive income/(loss)		(1,615)		1		(1,614)
Total Net Parent investment		5,430		57		5,487
Total equity		5,481		57		5,539

(Dollars in millions)	Six Months Ended September 30, 2021
Consolidated Statement of Cash Flows	As Previously Reported		Adjustments		As Revised
Cash flows from operating activities:
Net income (loss)	$	(1,085)	$	6	$	(1,079)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Taxes (including items settled with former Parent)		706		2		708
Other assets and other liabilities		(51)		(8)		(59)

(Dollars in millions)	At March 31, 2021
Consolidated Statement of Equity	As Previously Reported		Adjustments		As Revised
Net Parent investment	$	5,976	$	51	$	6,027
Accumulated other comprehensive income/(loss)		(1,186)		4		(1,182)
Total Net Parent investment		4,791		54		4,845
Total equity		4,848		54		4,902

(Dollars in millions)	At June 30, 2021
Consolidated Statement of Equity	As Previously Reported		Adjustments		As Revised
Net Parent investment	$	5,985	$	55	$	6,040
Accumulated other comprehensive income/(loss)		(1,163)		2		(1,161)
Total Net Parent investment		4,822		57		4,879
Total equity		4,875		57		4,932

(Dollars in millions)	At September 30, 2021
Consolidated Statement of Equity	As Previously Reported		Adjustments		As Revised
Net Parent investment	$	7,045	$	57	$	7,102
Accumulated other comprehensive income/(loss)		(1,615)		1		(1,614)
Total Net Parent investment		5,430		57		5,487
Total equity		5,481		57		5,539