Other Financial Data (Tables)

6 Months Ended

Jun. 30, 2024

Other Financial Data [Abstract]

Schedule of 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.

Schedule of 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

Schedule of 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.

Schedule of 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.

Schedule of 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.

Schedule of 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.