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DISCONTINUED OPERATIONS
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS
2. DISCONTINUED OPERATIONS

Digital Banking Sale

On September 30, 2024, the Company completed the Digital Banking Sale. Refer to Note 1, “Basis of Presentation and Significant Accounting Policies” for additional information. The historical results of the Digital Banking businesses have been presented as discontinued operations for all periods presented. The Company’s presentation of discontinued operations excludes general corporate overhead costs that did not meet the requirements to be presented as discontinued operations. The Company recognized a pre-tax gain of approximately $1.5 billion, which was recognized in Net income (loss) from discontinued operations.

The following table presents the major categories of income (loss) from discontinued operations related to the Digital Banking Sale:
For the year ended December 31
In millions202420232022
Product revenue$38 $53 $55 
Service revenue419 526 492 
Total revenue457 579 547 
Cost of products31 43 38 
Cost of services221 280 256 
Selling, general and administrative expenses84 77 73 
Research and development expenses37 46 31 
Total operating expenses373 446 398 
Income from discontinued operations84 133 149 
Other income (expense), net(48)(5)— 
Income (loss) from discontinued operations before gain on sale of business and income taxes36 128 149 
Gain on sale of business1,530 — — 
Income (loss) from discontinued operations before income taxes1,566 128 149 
Income tax expense (benefit)388 13 11 
Net income (loss) from discontinued operations related to Digital Banking$1,178 $115 $138 
The following table presents the major classes of assets and liabilities of discontinued operations related to the Digital Banking Sale:
In millionsDecember 31, 2023
Assets
Current assets
Cash and cash equivalents$2 
Accounts receivable, net of allowances58 
Prepaid and other current assets9 
Total current assets69 
Property, plant and equipment, net5 
Goodwill521 
Intangibles, net168 
Operating lease assets5 
Other assets183 
Noncurrent assets882 
Total assets of discontinued operations$951 
Liabilities
Current liabilities
Accounts payable$64 
Payroll and benefits liabilities22 
Contract liabilities30 
Other current liabilities4 
Total current liabilities120 
Operating lease liabilities3 
Other liabilities7 
Noncurrent liabilities10 
Total liabilities of discontinued operations$130 
$130 

The following table presents selected financial information related to cash flows from discontinued operations related to the Digital Banking Sale:
For the year ended December 31
In millions202420232022
Net cash provided by/(used in) operating activities$(288)$242 $210 
Net cash provided by/(used in) investing activities(57)(96)(93)
Net cash provided by/(used in) financing activities— — — 

Spin-Off of NCR Atleos

On October 16, 2023, the Company completed the Spin-Off of NCR Atleos into an independent publicly traded company. Refer to Note 1, “Basis of Presentation and Significant Accounting Policies” for additional information regarding the Spin-Off. The historical results of NCR Atleos have been presented as discontinued operations. The Company’s presentation of discontinued operations excludes general corporate overhead costs that did not meet the requirements to be presented as discontinued operation. The 2023 and 2022 presentation of discontinued operations has been updated to reflect the results of operations for the countries that transferred to NCR Atleos during 2024 and excludes the countries that have not yet transferred to NCR Atleos as of December 31, 2024. The results of operations for the countries that have not yet transferred will be presented as part of discontinued operations as of the date of their separation. As of December 31, 2024, there were two countries that had not yet transferred to NCR Atleos.
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 millions202420232022
Product revenue$— $802 $1,092 
Service revenue5 2,519 3,031 
Total revenue5 3,321 4,123 
Cost of products— 651 956 
Cost of services4 1,733 2,246 
Selling, general and administrative expenses1 540 461 
Research and development expenses— 52 70 
Total operating expenses5 2,976 3,733 
Income from discontinued operations— 345 390 
Interest expense— (6)— 
Other income (expense), net— (22)(11)
Income (loss) from discontinued operations before income taxes— 317 379 
Income tax expense (benefit)8 76 85 
Net income (loss) from discontinued operations(8)241 294 
Net income (loss) attributable to noncontrolling interests— — (1)
Net income (loss) from discontinued operations related to NCR Atleos$(8)$241 $295 

The following table represents the major classes of assets and liabilities of discontinued operations:
In millionsDecember 31, 2023
Assets
Current assets
      Cash and cash equivalents$1 
      Accounts receivable, net of allowances9 
      Inventories4 
      Prepaid and other current assets1 
Total current assets15 
Other assets8 
Noncurrent assets8 
Total assets of discontinued operations$23 
Liabilities and stockholder's equity
Current liabilities
      Accounts payable$1 
      Payroll and benefits liabilities 1 
      Contract liabilities10 
      Other current liabilities3 
Total current liabilities 15 
Pension and indemnity plan liabilities7 
Other liabilities5 
Noncurrent liabilities12 
Total liabilities of discontinued operations$27 

The total net impact to stockholder’s equity as a result of the separation was a reduction of $1,238 million, which has been reflected as a reduction of $1,057 million and $182 million to retained earnings and accumulated other comprehensive income, respectively, and an increase of $1 million to noncontrolling interest, in the Consolidated Statement of Equity as of December 31, 2023.
The following table presents selected financial information related to cash flows from discontinued operations related to the Spin-off of NCR Atleos:
For the year ended December 31
In millions202420232022
Net cash provided by/(used in) operating activities$(8)$336 $272 
Net cash provided by/(used in) investing activities— (93)(123)
Net cash provided by/(used in) financing activities— 1 10 

The following transactions have been included as part of discontinued operations for all of the periods presented.

Acquisition of LibertyX (2022)

On January 5, 2022, the Company completed its acquisition of Moon Inc., dba LibertyX, a leading cryptocurrency software provider, with the goal of enabling the Company to provide a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance, and accept digital currency payments across digital and physical channels. The Company purchased all outstanding shares of LibertyX for $1 million cash consideration and approximately 1.4 million shares of the Company’s common stock at a price of $42.13 per share. The Company also converted approximately 0.2 million outstanding unvested LibertyX option awards into the Company’s awards pursuant to an exchange ratio as defined in the acquisition agreement. LibertyX stock option awards were converted into the Company’s stock option awards with an exercise price per share for option awards equal to the exercise price per share of such stock option award immediately prior to the completion of the acquisition divided by the exchange ratio, and vested immediately. The value of the option awards was deemed attributable to services already rendered and was included as a portion of the purchase price. Total purchase consideration for the LibertyX acquisition was approximately $69 million. As a result of the acquisition, LibertyX became a wholly-owned subsidiary of the Company.

The operating results of LibertyX are part of Income (loss) from discontinued operations, net of tax within the Company’s results since the closing date of the acquisition.

Supplemental Information

Conflict in Eastern Europe The war in Eastern Europe and related sanctions imposed on Russia and related actors by the United States and other jurisdictions required us to commence the orderly wind down of our operations in Russia beginning in the first quarter of 2022. As of December 31, 2022, we ceased operations in Russia and our only subsidiary in Russia was formally dissolved as of December 20, 2023. We recognized a pre-tax net loss of $22 million for the year ended December 31, 2022 related to these actions which is included in Income (loss) from discontinued operations, net of tax within the Company’s results. NCR Voyix has no operations in Russia.

Environmental Matters

The costs and insurance recoveries relating to certain environmental obligations associated with discontinued operations, including those relating to the Fox River, Kalamazoo River and Ebina matters, are presented in Income (loss) from discontinued operations, net of tax, in the Consolidated Statements of Operations. Income (loss) from discontinued operations, net of tax, related to environmental matters was a loss of $10 million, $50 million and $4 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Net cash used in operating activities of discontinued operations related to environmental obligations was $20 million, $19 million and $20 million for fiscal years 2024, 2023 and 2022, respectively. Refer to Note 11, “Commitments and Contingencies” for further information.