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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 816 $ 493
Accounts receivable, net 322 251
Inventories 5 13
Other current assets 97 80
Total current assets 1,240 837
Property and equipment, net 202 198
Right of use assets - operating lease, net 6 7
Goodwill 397 399
Capitalized contract costs, net 39 42
Deferred income taxes 169 209
Other assets 89 87
Total assets 2,142 1,779
Current liabilities    
Current portion of long-term debt 25 25
Current portion of finance lease liability 49 50
Current portion of operating lease liability 2 2
Accounts payable 58 96
Payroll and benefits liabilities 83 120
Deferred revenue 603 533
Other current liabilities 134 88
Total current liabilities 954 914
Long-term debt 424 431
Finance lease liability 49 45
Operating lease liability 4 4
Pension and other postemployment plan liabilities 112 114
Long-term deferred revenue 12 11
Deferred tax liabilities 12 12
Other liabilities 18 18
Total liabilities 1,585 1,549
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, 2026 and December 31, 2025, respectively 0 0
Common stock: par value $0.01 per share, 500.0 shares authorized, 94.4 and 92.5 shares issued at March 31, 2026 and December 31, 2025, respectively 1 1
Paid-in capital 2,330 2,305
Accumulated deficit (1,621) (1,923)
Accumulated other comprehensive loss (153) (153)
Total stockholders’ equity 557 230
Total liabilities and stockholders’ equity $ 2,142 $ 1,779