XML 28 R10.htm IDEA: XBRL DOCUMENT
v3.25.0.1

DISCONTINUED OPERATIONS | 12 Months Ended
--- | ---
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | 2. DISCONTINUED OPERATIONS Digital Banking Sale On September 30, 2024, the Company completed the Digital Banking Sale. Refer to Note 1, “Basis of Presentation and Significant Accounting Policies” for additional information. The historical results of the Digital Banking businesses have been presented as discontinued operations for all periods presented. The Company’s presentation of discontinued operations excludes general corporate overhead costs that did not meet the requirements to be presented as discontinued operations. The Company recognized a pre-tax gain of approximately $1.5 billion, which was recognized in Net income (loss) from discontinued operations. The following table presents the major categories of income (loss) from discontinued operations related to the Digital Banking Sale:
| For the year ended December 31
In millions | 2024 |  | 2023 |  | 2022
Product revenue | $ | 38 |  |  | $ | 53 |  |  | $ | 55 |
Service revenue | 419 |  |  | 526 |  |  | 492 |
Total revenue | 457 |  |  | 579 |  |  | 547 |
Cost of products | 31 |  |  | 43 |  |  | 38 |
Cost of services | 221 |  |  | 280 |  |  | 256 |
Selling, general and administrative expenses | 84 |  |  | 77 |  |  | 73 |
Research and development expenses | 37 |  |  | 46 |  |  | 31 |
Total operating expenses | 373 |  |  | 446 |  |  | 398 |
Income from discontinued operations | 84 |  |  | 133 |  |  | 149 |
Other income (expense), net | (48) |  |  | (5) |  |  | — |
Income (loss) from discontinued operations before gain on sale of business and income taxes | 36 |  |  | 128 |  |  | 149 |
Gain on sale of business | 1,530 |  |  | — |  |  | — |
Income (loss) from discontinued operations before income taxes | 1,566 |  |  | 128 |  |  | 149 |
Income tax expense (benefit) | 388 |  |  | 13 |  |  | 11 |
Net income (loss) from discontinued operations related to Digital Banking | $ | 1,178 |  |  | $ | 115 |  |  | $ | 138 |
The following table presents the major classes of assets and liabilities of discontinued operations related to the Digital Banking Sale:
In millions | December 31, 2023
Assets |
Current assets |
Cash and cash equivalents | $ | 2 |
Accounts receivable, net of allowances | 58 |
Prepaid and other current assets | 9 |
Total current assets | 69 |
Property, plant and equipment, net | 5 |
Goodwill | 521 |
Intangibles, net | 168 |
Operating lease assets | 5 |
Other assets | 183 |
Noncurrent assets | 882 |
Total assets of discontinued operations | $ | 951 |
Liabilities |
Current liabilities |
Accounts payable | $ | 64 |
Payroll and benefits liabilities | 22 |
Contract liabilities | 30 |
Other current liabilities | 4 |
Total current liabilities | 120 |
Operating lease liabilities | 3 |
Other liabilities | 7 |
Noncurrent liabilities | 10 |
Total liabilities of discontinued operations | $ | 130 |
| $ | 130 |
The following table presents selected financial information related to cash flows from discontinued operations related to the Digital Banking Sale:
| For the year ended December 31
In millions | 2024 |  | 2023 |  | 2022
Net cash provided by/(used in) operating activities | $ | (288) |  |  | $ | 242 |  |  | $ | 210 |
Net cash provided by/(used in) investing activities | (57) |  |  | (96) |  |  | (93) |
Net cash provided by/(used in) financing activities | — |  |  | — |  |  | — |
Spin-Off of NCR Atleos On October 16, 2023, the Company completed the Spin-Off of NCR Atleos into an independent publicly traded company. Refer to Note 1, “Basis of Presentation and Significant Accounting Policies” for additional information regarding the Spin-Off. The historical results of NCR Atleos have been presented as discontinued operations. The Company’s presentation of discontinued operations excludes general corporate overhead costs that did not meet the requirements to be presented as discontinued operation. The 2023 and 2022 presentation of discontinued operations has been updated to reflect the results of operations for the countries that transferred to NCR Atleos during 2024 and excludes the countries that have not yet transferred to NCR Atleos as of December 31, 2024. The results of operations for the countries that have not yet transferred will be presented as part of discontinued operations as of the date of their separation. As of December 31, 2024, there were two countries that had not yet transferred to NCR Atleos. The following table presents the major categories of income (loss) from discontinued operations related to the Spin-Off of NCR Atleos:
| For the year ended December 31
In millions | 2024 |  | 2023 |  | 2022
Product revenue | $ | — |  |  | $ | 802 |  |  | $ | 1,092 |
Service revenue | 5 |  |  | 2,519 |  |  | 3,031 |
Total revenue | 5 |  |  | 3,321 |  |  | 4,123 |
Cost of products | — |  |  | 651 |  |  | 956 |
Cost of services | 4 |  |  | 1,733 |  |  | 2,246 |
Selling, general and administrative expenses | 1 |  |  | 540 |  |  | 461 |
Research and development expenses | — |  |  | 52 |  |  | 70 |
Total operating expenses | 5 |  |  | 2,976 |  |  | 3,733 |
Income from discontinued operations | — |  |  | 345 |  |  | 390 |
Interest expense | — |  |  | (6) |  |  | — |
Other income (expense), net | — |  |  | (22) |  |  | (11) |
Income (loss) from discontinued operations before income taxes | — |  |  | 317 |  |  | 379 |
Income tax expense (benefit) | 8 |  |  | 76 |  |  | 85 |
Net income (loss) from discontinued operations | (8) |  |  | 241 |  |  | 294 |
Net income (loss) attributable to noncontrolling interests | — |  |  | — |  |  | (1) |
Net income (loss) from discontinued operations related to NCR Atleos | $ | (8) |  |  | $ | 241 |  |  | $ | 295 |
The following table represents the major classes of assets and liabilities of discontinued operations:
In millions | December 31, 2023 |
Assets |  |
Current assets |  |
Cash and cash equivalents | $ | 1 |  |
Accounts receivable, net of allowances | 9 |  |
Inventories | 4 |  |
Prepaid and other current assets | 1 |  |
Total current assets | 15 |  |
Other assets | 8 |  |
Noncurrent assets | 8 |  |
Total assets of discontinued operations | $ | 23 |  |
Liabilities and stockholder's equity |  |
Current liabilities |  |
Accounts payable | $ | 1 |  |
Payroll and benefits liabilities | 1 |  |
Contract liabilities | 10 |  |
Other current liabilities | 3 |  |
Total current liabilities | 15 |  |
Pension and indemnity plan liabilities | 7 |  |
Other liabilities | 5 |  |
Noncurrent liabilities | 12 |  |
Total liabilities of discontinued operations | $ | 27 |  |
The total net impact to stockholder’s equity as a result of the separation was a reduction of $1,238 million, which has been reflected as a reduction of $1,057 million and $182 million to retained earnings and accumulated other comprehensive income, respectively, and an increase of $1 million to noncontrolling interest, in the Consolidated Statement of Equity as of December 31, 2023. The following table presents selected financial information related to cash flows from discontinued operations related to the Spin-off of NCR Atleos:
| For the year ended December 31
In millions | 2024 |  | 2023 |  | 2022
Net cash provided by/(used in) operating activities | $ | (8) |  |  | $ | 336 |  |  | $ | 272 |
Net cash provided by/(used in) investing activities | — |  |  | (93) |  |  | (123) |
Net cash provided by/(used in) financing activities | — |  |  | 1 |  |  | 10 |
The following transactions have been included as part of discontinued operations for all of the periods presented. Acquisition of LibertyX (2022) On January 5, 2022, the Company completed its acquisition of Moon Inc., dba LibertyX, a leading cryptocurrency software provider, with the goal of enabling the Company to provide a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance, and accept digital currency payments across digital and physical channels. The Company purchased all outstanding shares of LibertyX for $1 million cash consideration and approximately 1.4 million shares of the Company’s common stock at a price of $42.13 per share. The Company also converted approximately 0.2 million outstanding unvested LibertyX option awards into the Company’s awards pursuant to an exchange ratio as defined in the acquisition agreement. LibertyX stock option awards were converted into the Company’s stock option awards with an exercise price per share for option awards equal to the exercise price per share of such stock option award immediately prior to the completion of the acquisition divided by the exchange ratio, and vested immediately. The value of the option awards was deemed attributable to services already rendered and was included as a portion of the purchase price. Total purchase consideration for the LibertyX acquisition was approximately $69 million. As a result of the acquisition, LibertyX became a wholly-owned subsidiary of the Company. The operating results of LibertyX are part of Income (loss) from discontinued operations, net of tax within the Company’s results since the closing date of the acquisition. Supplemental Information Conflict in Eastern Europe The war in Eastern Europe and related sanctions imposed on Russia and related actors by the United States and other jurisdictions required us to commence the orderly wind down of our operations in Russia beginning in the first quarter of 2022. As of December 31, 2022, we ceased operations in Russia and our only subsidiary in Russia was formally dissolved as of December 20, 2023. We recognized a pre-tax net loss of $22 million for the year ended December 31, 2022 related to these actions which is included in Income (loss) from discontinued operations, net of tax within the Company’s results. NCR Voyix has no operations in Russia. Environmental Matters The costs and insurance recoveries relating to certain environmental obligations associated with discontinued operations, including those relating to the Fox River, Kalamazoo River and Ebina matters, are presented in Income (loss) from discontinued operations, net of tax, in the Consolidated Statements of Operations. Income (loss) from discontinued operations, net of tax, related to environmental matters was a loss of $10 million, $50 million and $4 million, for the years ended December 31, 2024, 2023 and 2022, respectively. Net cash used in operating activities of discontinued operations related to environmental obligations was $20 million, $19 million and $20 million for fiscal years 2024, 2023 and 2022, respectively. Refer to Note 11, “Commitments and Contingencies” for further information.

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration