Other Financial Data

6 Months Ended

Jun. 30, 2024

Other Financial Data [Abstract]

Other Financial Data

Other Financial Data

Condensed Consolidated Statements of Income Information

Other Income (Expense)

Other income (expense) consists of the following (in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Gain from sales of businesses	$	257	$	—	$	257	$	—
Foreign currency remeasurement	5		(37)		9		(56)
Equity earnings	1		(1)		3		2
Pension and other postretirement	(11)		(43)		(21)		(60)
Extinguishment of debt	(6)		—		(6)		—
Financial instruments and other (1)	(10)		22		69		30
Total	$	236	$	(59)	$	311	$	(84)

(1)In first quarter of 2024, an $82 million gain was recognized related to deferred consideration from the affiliates of The Blackstone Group L.P. and the other designated purchasers related to a divestiture completed in a prior year period. Refer to Note 7 “Acquisitions and Dispositions of Businesses” for additional information.

Condensed Consolidated Statements of Financial Position Information

Allowance for Doubtful Accounts

Changes in the net carrying amount of allowance for doubtful accounts are as follows (in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Balance at beginning of period	$	81	$	83	$	79	$	76
Provision	6		2		11		9
Accounts written off, net of recoveries	—		(3)		(2)		(3)
Foreign currency translation and other	—		1		(1)		1
Balance at end of period	$	87	$	83	$	87	$	83

Other Current Assets

The components of Other current assets are as follows (in millions):

As of	June 30, 2024		December 31, 2023
Assets held for sale (1)	$	359	$	354
Costs to fulfill contracts with customers (2)	264		370
Prepaid expenses	176		100
Taxes receivable	37		35
Other	227		137
Total	$	1,063	$	996

(1)Refer to Note 7 “Acquisitions and Dispositions of Businesses” for further information.

(2)Refer to Note 3 “Revenue from Contracts with Customers” for further information.

Other Non-Current Assets

The components of Other non-current assets are as follows (in millions):

As of	June 30, 2024		December 31, 2023
Costs to obtain contracts with customers (1)	$	196	$	195
Taxes receivable	92		100
Investments	83		45
Leases	17		26
Other	241		140
Total	$	629	$	506

(1)Refer to Note 3 “Revenue from Contracts with Customers” for further information.

Other Current Liabilities

The components of Other current liabilities are as follows (in millions):

As of	June 30, 2024		December 31, 2023
Deferred revenue (1)	$	391	$	270
Taxes payable	337		291
Leases	203		182
Contingent consideration	106		—
Liabilities held for sale (2)	64		69
Other	1,209		1,066
Total	$	2,310	$	1,878

(1)During the three and six months ended June 30, 2024, revenue of $199 million and $378 million, respectively, was recognized in the Condensed Consolidated Statements of Income. During the three and six months ended June 30, 2023, revenue of $169 million and $336 million, respectively, was recognized in the Condensed Consolidated Statements of Income.

(2)Refer to Note 7 “Acquisitions and Dispositions of Businesses” for further information.

Other Non-Current Liabilities

The components of Other non-current liabilities are as follows (in millions):

As of	June 30, 2024		December 31, 2023
Taxes payable (1)	$	848	$	827
Contingent consideration	91		—
Compensation and benefits	59		59
Deferred revenue	34		33
Leases	—		10
Other	103		145
Total	$	1,135	$	1,074

(1)Includes $72 million for the non-current portion of the one-time mandatory transition tax on accumulated foreign earnings as of December 31, 2023.