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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net revenues:      
Net revenues $ 3,586 $ 3,622 $ 3,547
Cost of revenues:      
Cost of revenues 1,878 1,980 2,000
Gross profit 1,708 1,642 1,547
Research and development 271 288 241
Selling, general and administrative 674 675 488
Acquisition and integration costs 9 16 52
Restructuring and other 6 20 10
Fees and expenses related to repricing of Term Loan Facility 5 2 0
Amortization of intangible assets 245 295 146
Goodwill and intangible asset impairments 0 1,902 0
Gain on sale of long-lived assets 0 (2) (7)
Income (loss) from operations 498 (1,554) 617
Interest income (21) (17) (4)
Interest expense 284 356 177
Loss on extinguishment of debt 57 8 0
Other (income) expense, net (2) 27 11
Income (loss) before income taxes 180 (1,928) 433
(Benefit) provision for income taxes (10) (87) 100
Net income (loss) 190 (1,841) 333
Other comprehensive income (loss), net of tax:      
Changes in value of financial instruments designated as cash flow hedges (1) (24) 50
Foreign currency translation adjustments (213) (83) 18
Change in net investment hedge 36 (25) 0
Unrecognized pension gain (loss) 3 (9) 12
Unrealized loss on investments 23 (23) 0
Total comprehensive income (loss) $ 38 $ (2,005) $ 413
Net income (loss) per share:      
Basic $ 2.82 $ (27.54) $ 5.57
Diluted $ 2.81 $ (27.54) $ 5.56
Weighted average common shares outstanding:      
Basic 67.3 66.8 59.7
Diluted 67.6 66.8 59.9
Products [Member]      
Net revenues:      
Net revenues $ 3,124 $ 3,200 $ 3,119
Cost of revenues:      
Cost of revenues 1,662 1,748 1,774
Services [Member]      
Net revenues:      
Net revenues 462 422 428
Cost of revenues:      
Cost of revenues $ 216 $ 232 $ 226