Planned Divestiture of Latin American Business (Tables)

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Components of pre-tax income and held for sale assets and liabilities

The pre-tax net income of the Latin American business is estimated to be as follows in the table below:

	Three Months Ended March 31,
	2022		2021
	(Dollars in millions)
Pre-tax net income	$	83	28

The principal components of the held for sale assets and liabilities are as follows:

	March 31, 2022		December 31, 2021
	(Dollars in millions)
Assets held for sale
Cash and cash equivalents	$	58	39
Accounts receivable, less allowance of $3 and $3	93		83
Other current assets	83		81
Property, plant and equipment, net accumulated depreciation of $456 and $434	1,704		1,591
Goodwill (1)	733		713
Customer relationships and other intangibles, net	138		126
Other non-current assets	83		75
Total assets held for sale	$	2,892	2,708
Liabilities held for sale
Accounts payable	$	90	101
Salaries and benefits	25		23
Income and other taxes	34		27
Current portion of deferred revenue	26		26
Other current liabilities	7		7
Deferred income taxes, net	148		129
Other non-current liabilities	134		122
Total liabilities held for sale	$	464	435

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(1)    The assignment of goodwill was based on the relative fair value of the disposal group and the portion of the remaining reporting unit.