Revised 2023 Quarterly Financial Statements

3 Months Ended

Mar. 31, 2024

Accounting Changes and Error Corrections [Abstract]

Revised 2023 Quarterly Financial Statements

17. REVISED 2023 QUARTERLY FINANCIAL STATEMENTS

As described in Note 1, “Basis of Presentation and Summary of Significant Accounting Policies”, in February 2024, the Company identified fraudulent ACH disbursements from a Company bank account. The Company evaluated the impact of the errors and concluded they are not material to any previously issued interim consolidated financial statements. The following table sets forth the Company’s results of operations for the three months ended March 31, 2023, which have been retrospectively adjusted to reflect NCR Atleos historical financial results as discontinued operations, including the delayed countries that transferred to NCR Atleos during the three months ended March 31, 2024, as well as the revision impact of the fraudulent ACH disbursements and other immaterial errors.

	Three Months Ended March 31, 2023
In millions, except per share amounts	As reported		Discontinued operations		Adjustment		As recasted and revised
Product revenue	$	521	$	230	$	—	$	291
Service revenue	1,370		745		—		625
Total revenue	1,891		975		—		916
Cost of products	456		187		—		269
Cost of services	969		552		—		417
Selling, general and administrative expenses	292		139		2		155
Research and development expenses	64		15		—		49
Total operating expenses	1,781		893		2		890
Income (loss) from operations	110		82		(2)		26
Loss on extinguishment of debt	—		—		—		—
Interest expense	(83)		—		—		(83)
Other income (expense), net	(3)		1		—		(4)
Income (loss) from continuing operations before income taxes	24		83		(2)		(61)
Income tax expense (benefit)	14		9		—		5
Income from continuing operations	10		74		(2)		(66)
Income (loss) from discontinued operations, net of tax	—		(74)		—		74
Net income (loss)	10		—		(2)		8
Net income (loss) attributable to noncontrolling interests	1		1		—		—
Net income attributable to noncontrolling interests of discontinued operations	—		(1)		—		1
Net income (loss) attributable to NCR Voyix	$	9	$	—	$	(2)	$	7
Amounts attributable to NCR Voyix common stockholders
Income (loss) from continuing operations	$	9					$	(66)
Series A convertible preferred stock dividends	(4)						(4)
Income (loss) from continuing operations attributable to NCR Voyix	5						(70)
Income (loss) from discontinued operations, net of tax	—						73
Net income (loss) attributable to NCR Voyix common stockholders	$	5					$	3
Income (loss) per share attributable to common stockholders:
Basic earnings (loss) per share:
Continuing operations	$	0.04					$	(0.50)
Discontinued operations	—						0.52
Net income attributable to common shareholders	$	0.04					$	0.02
Diluted earnings (loss) per share:
Continuing operations	$	0.04					$	(0.50)
Discontinued operations	—						0.52
Diluted earnings per share attributable to common shareholders	$	0.04					$	0.02

There is no impact to the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2023, other than the impact to Net income (loss) as presented above. There is no impact to the Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit) for the three months ended March 31, 2023 other than the impact to Retained earnings as a result of the changes in Net income (loss) as presented above.

There is no net impact of the adjustments described above to the Condensed Consolidated Statements of Cash Flows to “Net cash provided by operating activities” for the three months ended March 31, 2023, as the impact to Net income (loss) is offset by the changes to operating assets and liabilities, net of effects of business acquired noted above.