Pending Divestiture of the EMEA Business (Tables)

6 Months Ended

Jun. 30, 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 June 30,			Six Months Ended June 30,
	2023		2022	2023	2022
	(Dollars in millions)
EMEA business pre-tax net income (loss)	$	51	(15)	99	(34)

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

	June 30, 2023		December 31, 2022
	(Dollars in millions)
Assets held for sale
Cash and cash equivalents	$	45	43
Accounts receivable, less allowance of $5 and $5	77		76
Other current assets	62		56
Property, plant and equipment, net accumulated depreciation of $1,024 and $998	1,976		1,864
Customer relationships and other intangibles, net	106		100
Operating lease assets	196		156
Valuation allowance on assets held for sale (1)	(701)		(616)
Deferred tax assets	142		131
Other non-current assets	34		32
Total assets held for sale	$	1,937	1,842
Liabilities held for sale
Accounts payable	$	66	78
Salaries and benefits	17		23
Current portion of deferred revenue	39		28
Current operating lease liabilities	44		33
Other current liabilities	34		28
Deferred income taxes	50		38
Asset retirement obligations	31		30
Deferred revenue, non-current	103		85
Operating lease liabilities, non-current	104		103
Total liabilities held for sale	$	488	446

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(1)    Includes the impact of $327 million and $353 million as of June 30, 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.