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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 504 $ 569
Accounts receivable, net 265 364
Inventories 9 8
Other current assets 102 87
Total current assets 880 1,028
Property and equipment, net 250 244
Right of use assets - operating lease, net 11 13
Goodwill 390 390
Capitalized contract costs, net 76 92
Deferred income taxes 205 213
Other assets 57 42
Total assets 1,869 2,022
Current liabilities    
Current portion of long-term debt 6 0
Current portion of finance lease liability 70 67
Current portion of operating lease liability 7 8
Accounts payable 113 94
Payroll and benefits liabilities 100 137
Deferred revenue 526 589
Other current liabilities 88 112
Total current liabilities 910 1,007
Long-term debt 492 498
Finance lease liability 70 54
Operating lease liability 8 10
Pension and other postemployment plan liabilities 96 101
Long-term deferred revenue 7 8
Deferred tax liabilities 6 7
Other liabilities 62 79
Total liabilities 1,651 1,764
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 June 30, 2023 and December 31, 2022, respectively 0 0
Common stock: par value $0.01 per share, 500.0 shares authorized, 100.6 and 101.1 shares issued at June 30, 2023 and December 31, 2022, respectively 1 1
Paid-in capital 2,002 1,941
Accumulated deficit (1,668) (1,565)
Accumulated other comprehensive loss (117) (119)
Total stockholders’ equity 218 258
Total liabilities and stockholders’ equity $ 1,869 $ 2,022