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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue:      
Total revenue $ 3,314 $ 3,188 $ 2,902
Operating expenses:      
Cost of revenues 885 [1] 931 [2] 872 [3]
Selling, general and administrative 869 872 808
Research and development 252 262 228
Depreciation, amortization and impairments 406 361 384
Restructuring and other 219 94 92
Operating income 683 668 518
Other (expense) income:      
Interest expense (314) (293) (309)
Loss on debt financing transactions (5) (2) (15)
Other income, net 1 48 11
Total other expense, net (318) (247) (313)
Net income before income taxes 365 421 205
Income tax expense (89) (85) (25)
Net income 276 336 180
Less: Net income attributable to noncontrolling interest 0 0 17
Net income attributable to L&W $ 276 $ 336 $ 163
Per Share - Basic:      
Net income attributable to L&W, basic (in usd per share) $ 3.32 $ 3.77 $ 1.79
Per Share - Diluted:      
Net income attributable to L&W, diluted (in shares) $ 3.26 $ 3.68 $ 1.75
Weighted average number of shares used in per share calculations:      
Basic shares (in shares) 83 89 91
Diluted shares (in shares) 85 91 93
Services      
Revenue:      
Total revenue $ 2,297 $ 2,105 $ 1,991
Operating expenses:      
Cost of revenues [4] 449 448 445
Products      
Revenue:      
Total revenue 1,017 1,083 911
Operating expenses:      
Cost of revenues [4] $ 436 $ 483 $ 427
[1] (2) Excludes D&A.
[2] (2) Excludes D&A.
[3] (2) Excludes D&A.
[4] (1) Excludes D&A.