Planned Divestiture of the EMEA Business (Tables)

3 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Components of Pre-Tax Income and Assets and Liabilities as of the Disposal Date

The principal components of the held for sale assets and liabilities of the EMEA business as of the dates below are as follows:

	March 31, 2023		December 31, 2022
	(Dollars in millions)
Assets held for sale
Cash and cash equivalents	$	40	43
Accounts receivable, less allowance of $5 and $5	85		76
Other current assets	70		59
Property, plant and equipment, net of accumulated depreciation of $1,047 and $1,033	1,934		1,873
Customer relationships and other intangible assets, net	103		100
Operating lease assets	170		156
Valuation allowance on assets held for sale(1)	(737)		(660)
Deferred tax assets	154		138
Other non-current assets	39		38
Total assets held for sale	$	1,858	1,823
Liabilities held for sale
Accounts payable	$	74	78
Salaries and benefits	13		23
Current portion of deferred revenue	37		28
Current operating lease liabilities	38		33
Other current liabilities	33		28
Deferred income taxes, net	45		38
Asset retirement obligations	31		30
Deferred revenue, non-current	96		85
Operating lease liabilities, non-current	100		103
Total liabilities held for sale	$	467	446

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(1)Includes the impact of $369 million and $365 million as of March 31, 2023 and December 31, 2022, respectively, primarily related to loss on foreign currency translation, expected to be reclassified out of accumulated other comprehensive loss upon close of the sale.