DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table presents the major categories of income (loss) from discontinued operations related to the Spin-Off of NCR Atleos:

	For the year ended December 31
In millions	2023(1)		2022	2021
Product revenue	$	784	1,077	1,017
Service revenue	2,464		2,974	2,447
Total revenue	3,248		4,051	3,464
Cost of products	633		946	818
Cost of services	1,715		2,225	1,678
Selling, general and administrative expenses	537		457	447
Research and development expenses	52		70	73
Total operating expenses	2,937		3,698	3,016
Income from discontinued operations	311		353	448
Interest expense	(6)		—	—
Other income (expense), net	(23)		(11)	102
Income (loss) from discontinued operations before income taxes	282		342	550
Income tax expense (benefit)	69		76	115
Net income (loss) from discontinued operations	213		266	435
Net income (loss) attributable to noncontrolling interests	—		(1)	1
Net income (loss) from discontinued operations related to NCR Atleos	213		267	434

(1) Represents operations of NCR Atleos through October 16, 2023, versus the full year for 2022 and 2021.

The following table represents the major classes of assets and liabilities of discontinued operations:

In millions	December 31, 2022
Assets
Current assets
Cash and cash equivalents	$	284
Accounts receivable, net of allowances	533
Inventories	415
Restricted cash	211
Prepaid and other current assets	247
Total current assets	1,690
Property, plant and equipment, net	436
Goodwill*	2,476
Intangibles, net	729
Operating lease assets	99
Prepaid pension cost	177
Deferred income taxes	269
Other assets	152
Noncurrent assets	4,338
Total assets of discontinued operations	$	6,028
Liabilities and stockholder's equity
Current liabilities
Short-term borrowings	3
Accounts payable	348
Payroll and benefits liabilities	120
Contract liabilities	346
Settlement liabilities	212
Other current liabilities	324
Total current liabilities	1,353
Long-term debt	9
Pension and indemnity plan liabilities	457
Postretirement and postemployment benefits liabilities	53
Income tax accruals	39
Operating lease liabilities	67
Other liabilities	139
Noncurrent liabilities	764
Total liabilities of discontinued operations	$	2,117

*Goodwill allocated to discontinued operations represents the amount of goodwill attributable to NCR Atleos which was determined on a relative fair value basis.

The following table presents selected financial information related to cash flows from discontinued operations:

	For the year ended December 31
In millions	2023*		2022		2021
Net cash provided by/(used in) operating activities	$	283	$	243	$	803
Net cash provided by/(used in) investing activities	(71)		(123)		(1,789)
Net cash provided by/(used in) financing activities	—		10		(3)

*Represents Atleos operations from January 1, 2023 through October 16, 2023, versus a full year of NCR Atleos operations in 2022 and 2021.

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

The purchase consideration transferred consisted of the following:

In millions	Purchase Consideration
Cash paid to common stockholders and holders of certain restricted stock and stock option awards	$	1,775
Debt repaid by the Company on behalf of Cardtronics	809
Transaction costs paid by the Company on behalf of Cardtronics	57
Fair value of converted Cardtronics awards attributable to pre-combination services	19
Settlement of pre-existing relationships	14
Total purchase consideration	$	2,674

Schedule of Business Acquisitions, by Acquisition

The final allocation of the purchase price was as follows:

In millions	Fair Value
Cash acquired	$	2
Tangible assets acquired	3
Acquired intangible assets other than goodwill	38
Acquired goodwill	40
Deferred tax liabilities	(10)
Liabilities assumed	(4)
Total purchase consideration	$	69

The final allocation of the purchase price for Cardtronics was as follows:

In millions	Fair Value
Assets acquired
Cash and restricted cash	$	291
Trade accounts receivable	85
Prepaid expenses, other current assets and other assets	193
Property, plant and equipment	362
Acquisition-related intangible assets	864
Total assets acquired	$	1,795
Liabilities assumed	733
Net assets acquired, excluding goodwill	1,062
Total purchase consideration	2,674
Goodwill	$	1,612

The allocation of the purchase prices is as follows:

In millions	Fair Value
Cash acquired	$	2
Tangible assets acquired	7
Acquired intangible assets other than goodwill	52
Acquired goodwill	81
Deferred tax liabilities	(3)
Liabilities assumed	(13)
Total purchase consideration	$	126

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table sets forth the components of the intangible assets acquired as of the acquisition date:

	Fair Value		Weighted Average Amortization Period (1)
	(In millions)		(In years)
Direct customer relationships	$	5	10
Technology - Software	30		13
Non-compete	1		1
Tradenames	2		2
Total acquired intangible assets	$	38

(1) Determination of the weighted average period of the individual categories of intangible assets was based on the nature of applicable intangible asset and the expected future cash flows to be derived from the intangible asset. Amortization of intangible assets with definite lives is recognized over the period of time the assets are expected to contribute to future cash flows.

The following table sets forth the components of the intangible assets acquired as of the acquisition date:

	Fair Value		Weighted Average Amortization Period(1)
	(In millions)		(In years)
Direct customer relationships	$	373	15
Technology - Software	441		8
Non-compete	1		1
Tradenames	49		4
Total acquired intangible assets	$	864

(1) Determination of the weighted average period of the individual categories of intangible assets was based on the nature of the applicable intangible asset and the expected future cash flows to be derived from the intangible asset. Amortization of intangible assets with definite lives is recognized over the period of time the assets are expected to contribute to future cash flows.

The following table sets forth the components of the intangible assets acquired as of the acquisition dates:

	Fair Value		Weighted Average Amortization Period(1)
	(In millions)		(In years)
Direct customer relationships	$	11	10
Technology - Software	36		8
Non-compete	1		1
Tradenames	4		9
Total acquired intangible assets	$	52

(1)Determination of the weighted average period of the individual categories of intangible assets was based on the nature of the applicable intangible asset and the expected future cash flows to be derived from the intangible asset. Amortization of intangible assets with definite lives is recognized over the period of time the assets are expected to contribute to future cash flows.