Pending Divestiture of the EMEA Business (Tables)

3 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

EMEA business pre-tax net loss and held for sale assets and liabilities

The pre-tax net income of the disposal group is estimated to be and reported as follows in the table below:

	Three Months Ended March 31,
	2023		2022
	(Dollars in millions)
EMEA business pre-tax net income (loss)	$	48	(19)

The principal components of the held for sale assets and liabilities of the EMEA business as of the dates below are as follows:

	March 31, 2023		December 31, 2022
	(Dollars in millions)
Assets held for sale
Cash and cash equivalents	$	39	43
Accounts receivable, less allowance of $5 and $5	84		76
Other current assets	70		56
Property, plant and equipment, net accumulated depreciation of $1,012 and $998	1,925		1,864
Customer relationships and other intangibles, net	103		100
Operating lease assets	170		156
Valuation allowance on assets held for sale (1)	(693)		(616)
Deferred tax assets	141		131
Other non-current assets	34		32
Total assets held for sale	$	1,873	1,842
Liabilities held for sale
Accounts payable	$	74	78
Salaries and benefits	13		23
Current portion of deferred revenue	37		28
Current operating lease liabilities	38		33
Other current liabilities	33		28
Deferred income taxes	45		38
Asset retirement obligations	31		30
Deferred revenue, non-current	95		85
Operating lease liabilities, non-current	100		103
Total liabilities held for sale	$	466	446

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(1)    Includes the impact of $340 million and $353 million as of March 31, 2023 and December 31, 2022, respectively, primarily related to loss on foreign currency translation, expected to be reclassified out of accumulated other comprehensive loss upon close of the sale.