XML 14 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Revenue $ 436 $ 462 $ 901 $ 938
Cost of revenue        
Cost of revenue 171 186 352 360
Gross profit 265 276 549 578
Operating expenses        
Selling, general and administrative expenses 131 167 292 320
Research and development expenses 68 76 143 146
Total operating expenses 199 243 435 466
Income from operations 66 33 114 112
Other expense, net        
Interest expense (7) (7) (15) (14)
Interest income 2 8 6 15
Other expense (6) (10) (18) (31)
Total other expense, net (11) (9) (27) (30)
Income before income taxes 55 24 87 82
Income tax expense 18 7 30 25
Net income $ 37 $ 17 $ 57 $ 57
Net income per common share        
Basic (in dollars per share) $ 0.38 $ 0.17 $ 0.59 $ 0.56
Diluted (in dollars per share) $ 0.38 $ 0.17 $ 0.58 $ 0.55
Weighted average common shares outstanding        
Basic (in shares) 96.5 101.0 97.0 101.2
Diluted (in shares) 97.4 102.9 98.9 103.3
Total recurring        
Revenue        
Revenue $ 368 $ 371 $ 756 $ 760
Cost of revenue        
Cost of revenue 110 107 222 205
Subscription software licenses        
Revenue        
Revenue 73 70 163 174
Cost of revenue        
Cost of revenue 5 5 10 11
Services and other        
Revenue        
Revenue 295 301 593 586
Cost of revenue        
Cost of revenue 105 102 212 194
Perpetual software licenses, hardware and other        
Revenue        
Revenue 5 13 13 26
Cost of revenue        
Cost of revenue 5 12 13 23
Consulting services        
Revenue        
Revenue 63 78 132 152
Cost of revenue        
Cost of revenue $ 56 $ 67 $ 117 $ 132