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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 368 $ 420
Accounts receivable, net 307 234
Inventories 13 18
Other current assets 103 77
Total current assets 791 749
Property and equipment, net 201 185
Right of use assets - operating lease, net 8 8
Goodwill 396 394
Capitalized contract costs, net 40 46
Deferred income taxes 219 226
Other assets 97 96
Total assets 1,752 1,704
Current liabilities    
Current portion of long-term debt 25 25
Current portion of finance lease liability 62 57
Current portion of operating lease liability 4 4
Accounts payable 100 106
Payroll and benefits liabilities 77 111
Deferred revenue 550 512
Other current liabilities 128 115
Total current liabilities 946 930
Long-term debt 449 455
Finance lease liability 43 30
Operating lease liability 5 5
Pension and other postemployment plan liabilities 105 104
Long-term deferred revenue 11 10
Deferred tax liabilities 10 9
Other liabilities 25 28
Total liabilities 1,594 1,571
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, 2025 and December 31, 2024, respectively 0 0
Common stock: par value $0.01 per share, 500.0 shares authorized, 95.9 and 95.1 shares issued at March 31, 2025 and December 31, 2024, respectively 1 1
Paid-in capital 2,214 2,192
Accumulated deficit (1,913) (1,913)
Accumulated other comprehensive loss (144) (147)
Total stockholders’ equity 158 133
Total liabilities and stockholders’ equity $ 1,752 $ 1,704