XML 24 R2.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:    
Total revenue $ 670 $ 572
Operating expenses:    
Selling, general and administrative 192 175
Research and development 54 53
Depreciation, amortization and impairments 101 108
Restructuring and other 19 36
Operating income 102 40
Other (expense) income:    
Interest expense (75) (116)
Gain on remeasurement of debt and other 0 7
Other (expense) income, net (1) 5
Total other expense, net (76) (104)
Net income (loss) from continuing operations before income taxes 26 (64)
Income tax benefit (expense) 1 (3)
Net income (loss) from continuing operations 27 (67)
Net income from discontinued operations, net of tax 0 95
Net income 27 28
Less: Net income attributable to noncontrolling interest 5 2
Net income attributable to L&W $ 22 $ 26
Per Share - Basic:    
Net income (loss) from continuing operations (in dollars per share) $ 0.24 $ (0.72)
Net income from discontinued operations (in dollars per share) 0 0.98
Net income attributable to L&W (in dollars per share) 0.24 0.26
Per Share - Diluted:    
Net income (loss) from continuing operations (in dollars per share) 0.23 (0.72)
Net income from discontinued operations (in dollars per share) 0 0.98
Net income attributable to L&W (in dollars per share) $ 0.23 $ 0.26
Weighted average number of shares used in per share calculations:    
Basic (in shares) 91 97
Diluted (in shares) 93 97
Services    
Revenue:    
Total revenue $ 477 $ 431
Operating expenses:    
Cost of goods and services sold [1] 108 90
Product sales    
Revenue:    
Total revenue 193 141
Operating expenses:    
Cost of goods and services sold [1] $ 94 $ 70
[1] (1) Excludes D&A.