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SEGMENT INFORMATION AND CONCENTRATION (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents revenue and operating income by segment for the years ended December 31:
In millions202320222021
Revenue by Segment
Retail$2,177 $2,182 $2,138 
Restaurants886 857 794 
Digital Banking579 547 521 
Total Segment Revenue$3,642 $3,586 $3,453 
Other188 207 239 
Total Revenue$3,830 $3,793 $3,692 
Adjusted EBITDA by Segment
Retail$411 $384 $427 
Restaurants197 160 150 
Digital Banking219 233 216 
Total Segment Adjusted EBITDA827 777 793 

In millions202320222021
Segment Adjusted EBITDA$827 $777 $793 
Corporate and other income and expenses not allocated to segments211 181 322 
Pension mark-to-market adjustments7 (41)(7)
Transformation and restructuring costs(1)
39 96 53 
Fraudulent ACH disbursements(2)
23 — — 
Acquisition-related amortization of intangibles71 71 76 
Acquisition-related costs(3)
1 2 3 
Interest expense(4)
294 285 238 
Interest income(13)(13)(8)
Depreciation and amortization252 237 220 
Income taxes204 72 70 
Stock-based compensation expense150 90 121 
Separation costs(5)
99 — — 
Loss on disposal of businesses12 — — 
Loss on debt extinguishment46 — 42 
Cyber ransomware incident recovery costs(6)
17 — — 
Net income (loss) from continuing operations attributable to NCR Voyix (GAAP)$(586)$(203)$(337)
(1) Represents integration, severance, and other exit and disposal costs, which are considered non-operational in nature.
(2) Represents company identified fraudulent ACH disbursements from a company bank account. Additional details regarding this item are discussed in Note 1, “Basis of Presentation and Significant Accounting Policies”.
(3) Represents professional fees, retention bonuses, and other costs incurred related to acquisitions, which are considered non-operational in nature.
(4) During the three months ended September 30, 2023, it was determined that the transactions underlying the unrealized gains on terminated interest rate swap and cap agreements reported in Accumulated other comprehensive income were probable of not occurring under ASC 815, Derivatives and Hedging. As such, $18 million of unrealized gains were recognized in Interest expense. Refer to Note 15, “Derivatives and Hedging Instruments”.
(5) Represents costs incurred as a result of the Spin-Off. Professional fees to effect the spin-off of NCR Atleos including separation management, organizational design, and legal fees have been classified within discontinued operations through October 16, 2023, the separation date.
(6) Represents expenses to respond to, remediate and investigate the April 13, 2023 cyber ransomware incident net of insurance recoveries, which is considered a nonrecurring special item. Additional details regarding this cyber ransomware incident are discussed in Note 1, “Basis of Presentation and Significant Accounting Policies”.
Revenue from External Customers by Products and Services
The following table presents recurring revenue and all other products and services that is recognized at a point in time for the Company for the years ended December 31:
In millions202320222021
Recurring revenue(1)
$2,195 $2,120 $2,069 
All other products and services1,635 1,673 1,623 
Total revenue$3,830 $3,793 $3,692 
(1) Recurring revenue includes all revenue streams from contracts where there is a predictable revenue pattern that will occur at regular intervals with a relatively high degree of certainty. This includes hardware and software maintenance revenue, cloud revenue, payment processing revenue, interchange and network revenue, and certain professional services arrangements, as well as term-based software license arrangements that include customer termination rights.
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area
Revenue is attributed to the geographic area to which the product is delivered or in which the service is provided. The following table presents revenue by geographic area for the Company for the years ended December 31:
In millions2023%2022%2021%
Revenue by Geographic Area
United States$2,540 67 %$2,560 67 %$2,367 65 %
Americas (excluding United States)281 7 %254 7 %226 6 %
Europe, Middle East and Africa653 17 %594 16 %643 17 %
Asia Pacific356 9 %385 10 %456 12 %
Total revenue$3,830 100 %$3,793 100 %$3,692 100 %
Property, Plant and Equipment
The following table presents property, plant and equipment by geographic area as of December 31:
In millions20232022
Property, plant and equipment, net
United States$177 $187 
Americas (excluding United States)2 2 
Europe, Middle East and Africa29 32 
Asia Pacific4 6 
Consolidated property, plant and equipment, net$212 $227 
The components of property, plant and equipment, net are summarized as follows:
In millionsDecember 31, 2023December 31, 2022
Property, plant and equipment
Land and improvements$1 $2 
Buildings and improvements208145 
Machinery and other equipment476 570 
Finance lease assets71 59 
Property, plant and equipment, gross756 776 
Less: accumulated depreciation(544)(549)
Total property, plant and equipment, net$212 $227