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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net revenues:        
Net revenues $ 896 $ 932 $ 2,652 $ 2,730
Cost of revenues:        
Cost of revenues 464 506 1,385 1,499
Gross profit 432 426 1,267 1,231
Research and development 70 71 206 218
Selling, general and administrative 167 167 498 514
Acquisition and integration costs 3 3 6 14
Restructuring and other 1 1 6 13
Fees and expenses related to amendments to the Term Loan Facility 2 0 5 0
Amortization of intangible assets 61 68 184 225
Goodwill and intangible asset impairments 0 0 0 1,827
Gain on sale of long-lived assets 0 (2) 0 (2)
Income (loss) from operations 128 118 362 (1,578)
Interest income (6) (4) (17) (10)
Interest expense 64 93 230 266
Loss on extinguishment of debt 5 0 52 0
Other expense (income), net 5 7 (3) 14
Income (loss) before income taxes 60 22 100 (1,848)
(Benefit) provision for income taxes (2) (17) 1 (76)
Net income (loss) 62 39 99 (1,772)
Other comprehensive income (loss), net of tax:        
Changes in value of financial instruments designated as cash flow hedges (59) 16 (27) 45
Foreign currency translation adjustments 184 (96) 18 (269)
Change in net investment hedge (28) 21 0 8
Unrealized gain (loss) on investments 13 4 22 (7)
Net unrecognized pension (loss) gain (3) 0 0 (5)
Total comprehensive (loss) income $ 169 $ (16) $ 112 $ (2,000)
Net income (loss) per share:        
Basic $ 0.92 $ 0.59 $ 1.48 $ (26.53)
Diluted $ 0.92 $ 0.58 $ 1.47 $ (26.53)
Weighted average common shares outstanding:        
Basic 67.4 66.9 67.2 66.8
Diluted 67.6 67.1 67.5 66.8
Products [Member]        
Net revenues:        
Net revenues $ 776 $ 818 $ 2,301 $ 2,416
Cost of revenues:        
Cost of revenues 410 446 1,220 1,326
Services [Member]        
Net revenues:        
Net revenues 120 114 351 314
Cost of revenues:        
Cost of revenues $ 54 $ 60 $ 165 $ 173