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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 337 $ 486
Accounts receivable, net 311 286
Inventories 16 13
Other current assets 105 84
Total current assets 769 869
Property and equipment, net 227 239
Right of use assets - operating lease, net 7 9
Goodwill 396 398
Capitalized contract costs, net 59 68
Deferred income taxes 204 221
Other assets 83 69
Total assets 1,745 1,873
Current liabilities    
Current portion of long-term debt 25 19
Current portion of finance lease liability 64 66
Current portion of operating lease liability 5 6
Accounts payable 119 100
Payroll and benefits liabilities 92 130
Deferred revenue 573 570
Other current liabilities 105 105
Total current liabilities 983 996
Long-term debt 474 480
Finance lease liability 57 63
Operating lease liability 4 6
Pension and other postemployment plan liabilities 94 102
Long-term deferred revenue 13 22
Deferred tax liabilities 8 8
Other liabilities 58 61
Total liabilities 1,691 1,738
Commitments and contingencies (Note 8)
Stockholders’ equity    
Preferred stock: par value $0.01 per share, 100.0 shares authorized, no shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 0 0
Common stock: par value $0.01 per share, 500.0 shares authorized, 98.3 and 97.9 shares issued at March 31, 2024 and December 31, 2023, respectively 1 1
Paid-in capital 2,103 2,074
Accumulated deficit (1,918) (1,811)
Accumulated other comprehensive loss (132) (129)
Total stockholders’ equity 54 135
Total liabilities and stockholders’ equity $ 1,745 $ 1,873