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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 324 $ 479
Accounts receivable, net of allowances of $6 and $5 at June 30, 2024 and December 31, 2023, respectively 1,314 1,395
Inventories 155 150
Contract assets 509 436
Prepaid expenses and other current assets 152 122
Total current assets 2,454 2,582
Property and equipment, net 383 385
Operating lease right of use assets 251 233
Goodwill 2,825 2,471
Intangible assets, net 1,773 1,620
Deferred tax assets 50 113
Pension and post-retirement assets 103 111
Other assets 122 75
Total assets 7,961 7,590
Current liabilities:    
Short-term and current portion of long-term debt 4 5
Accounts payable 424 472
Contingent consideration and compensation liabilities 21 22
Accrued salaries and wages 297 363
Contract liabilities 547 526
Operating and finance leases 82 75
Other accrued liabilities 287 344
Total current liabilities 1,662 1,807
Long-term debt, less current portion 2,844 2,322
Pension and post-retirement obligations 50 50
Contingent consideration and compensation liabilities 20 11
Operating and finance leases 185 172
Deferred tax liabilities 236 233
Other noncurrent liabilities 129 127
Total liabilities 5,126 4,722
Commitments and contingencies (Note 14)
Mezzanine equity:    
5.5% Series B Redeemable Convertible Preferred Stock, $0.0001 par value, 0 and 800,000 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 0 797
Shareholders’ equity:    
Series A Preferred Stock, $0.0001 par value; 7,000,000 authorized shares; 4,000,000 shares issued and outstanding at June 30, 2024 and December 31, 2023 0 0
Common stock; $0.0001 par value, 500,000,000 authorized shares, 274,319,653 shares and 235,575,316 shares issued at June 30, 2024 and December 31, 2023, respectively (excluding 8,281,148 shares declared for stock dividend at December 31, 2023) 0 0
Additional paid-in capital 3,280 2,572
Retained earnings (accumulated deficit) 79 (11)
Accumulated other comprehensive loss (524) (490)
Total shareholders’ equity 2,835 2,071
Total liabilities, redeemable convertible preferred stock, and shareholders’ equity $ 7,961 $ 7,590