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Revision of Previously Issued Financial Statements (Tables) | 6 Months Ended
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Jun. 30, 2025
Accounting Changes and Error Corrections [Abstract] |
Schedule of Revision of Previously Issued Financial Statements | A summary of the corrections to the impacted financial statement line items is presented below. An adjustment to reclassify a portion of inventories as other noncurrent assets as of December 31, 2024 and 2023 has also been reflected below. Consolidated Balance Sheets
| As reported | Adjustment | Revised
| December 31, 2024
Inventories | $ | 178 |  | $ | (10) |  | $ | 167 |
Current tax receivable | 34 |  | (1) |  | 33 |
Total current assets | 839 |  | (12) |  | 827 |
Deferred tax assets | 280 |  | (3) |  | 277 |
Other noncurrent assets | 29 |  | 10 |  | 39 |
Total assets | $ | 1,319 |  | $ | (4) |  | $ | 1,316 |
Accounts payable and accrued expenses | $ | 232 |  | $ | (16) |  | $ | 216 |
Total current liabilities | 939 |  | (16) |  | 924 |
Total liabilities | 1,668 |  | (16) |  | 1,652 |
Accumulated deficit | (454) |  | 12 |  | (443) |
Total shareholders' deficit | (348) |  | 12 |  | (337) |
Total liabilities and shareholders' deficit | $ | 1,319 |  | $ | (4) |  | $ | 1,316 |
| December 31, 2023
Inventories | $ | 135 |  | $ | (9) |  | $ | 126 |
Total current assets | 1,266 |  | (9) |  | 1,257 |
Deferred tax assets | 288 |  | (2) |  | 286 |
Other noncurrent assets | 28 |  | 9 |  | 36 |
Total assets | $ | 1,760 |  | $ | (2) |  | $ | 1,758 |
Accounts payable and accrued expenses | $ | 204 |  | $ | (10) |  | $ | 195 |
Total current liabilities | 1,290 |  | (10) |  | 1,281 |
Total liabilities | 1,951 |  | (9) |  | 1,942 |
Accumulated deficit | (295) |  | 7 |  | (288) |
Total shareholders' deficit | (191) |  | 7 |  | (184) |
Total liabilities and shareholders' deficit | $ | 1,760 |  | $ | (2) |  | $ | 1,758 |
Consolidated Statements of Operations
| As reported | Adjustment | Revised
| Year ended December 31, 2024
Selling, general and administrative expenses | $ | 618 |  | $ | (6) |  | $ | 612 |
Total operating expenses, net | 925 |  | (6) |  | 919 |
Operating income | 32 |  | 6 |  | 38 |
Income before income taxes | 14 |  | 6 |  | 20 |
Income tax expense | (11) |  | (2) |  | (13) |
Net income | $ | 2 |  | $ | 5 |  | $ | 7 |
Earnings per Share |  |  |
Basic | $ | 0.02 |  | $ | 0.03 |  | $ | 0.05 |
Diluted | $ | 0.02 |  | $ | 0.03 |  | $ | 0.05 |
| Year ended December 31, 2023
Selling, general and administrative expenses | $ | 569 |  | $ | (4) |  | $ | 565 |
Total operating expenses, net | 1,076 |  | (4) |  | 1,072 |
Operating loss | (156) |  | 4 |  | (152) |
Loss before income taxes | (149) |  | 4 |  | (145) |
Income tax benefit | 20 |  | (1) |  | 19 |
Net loss | $ | (129) |  | $ | 3 |  | $ | (126) |
Loss per Share |  |  |
Basic | $ | (0.94) |  | $ | 0.02 |  | $ | (0.92) |
Diluted | $ | (0.94) |  | $ | 0.02 |  | $ | (0.92) |
| Year ended December 31, 2022
Selling, general and administrative expenses | $ | 469 |  | $ | (4) |  | $ | 466 |
Total operating expenses, net | 831 |  | (4) |  | 827 |
Operating loss | (81) |  | 4 |  | (77) |
Loss before income taxes | (89) |  | 4 |  | (86) |
Income tax benefit | 44 |  | (1) |  | 43 |
Net loss | $ | (44) |  | $ | 3 |  | $ | (42) |
Loss per Share |  |  |
Basic | $ | (0.32) |  | $ | 0.02 |  | $ | (0.30) |
Diluted | $ | (0.32) |  | $ | 0.02 |  | $ | (0.30) |
Consolidated Statements of Cash Flows
| As reported | Adjustment | Revised
| December 31, 2024
Net income | $ | 2 |  | $ | 5 |  | $ | 7 |
Deferred income taxes | 6 |  | 1 |  | 7 |
Change in operating assets and liabilities: |  |  |
Inventories | (45) |  | 2 |  | (43) |
Other current and noncurrent assets | 378 |  | (1) |  | 377 |
Other current and noncurrent liabilities | 14 |  | (6) |  | 8 |
Net cash provided by operating activities | $ | 36 |  | $ | — |  | $ | 36 |
| December 31, 2023
Net loss | $ | (129) |  | $ | 3 |  | $ | (126) |
Deferred income taxes | (65) |  | 1 |  | (64) |
Change in operating assets and liabilities: |  |  |
Inventories | (15) |  | 9 |  | (6) |
Other current and noncurrent assets | (410) |  | (9) |  | (418) |
Other current and noncurrent liabilities | 114 |  | (4) |  | 110 |
Net cash used in operating activities | $ | (300) |  | $ | — |  | $ | (300) |
| December 31, 2022
Net loss | $ | (44) |  | $ | 3 |  | $ | (42) |
Deferred income taxes | (105) |  | 1 |  | (104) |
Change in operating assets and liabilities: |  |  |
Other current and noncurrent liabilities | (97) |  | (4) |  | (100) |
Net cash used in operating activities | $ | (4) |  | $ | — |  | $ | (4) |
Revisions to unaudited selected quarterly financial data presented in our Annual Report on Form 10-K for the year ended December 31, 2024 are summarized as follows:
| As reported | Adjustment | Revised
| Three months ended March 31, 2024
Selling, general and administrative expenses | $ | 145 |  | $ | (2) |  | $ | 143 |
Total operating expenses, net | 172 |  | (2) |  | 171 |
Operating income | 73 |  | 2 |  | 75 |
Income before income taxes | 71 |  | 2 |  | 73 |
Income tax expense | (11) |  | — |  | (11) |
Net income | $ | 60 |  | $ | 1 |  | $ | 61 |
| Three months ended June 30, 2024
Selling, general and administrative expenses | $ | 153 |  | $ | (2) |  | $ | 152 |
Total operating expenses, net | 340 |  | (2) |  | 338 |
Operating loss | (119) |  | 2 |  | (118) |
Loss before income taxes | (122) |  | 2 |  | (121) |
Income tax benefit | 24 |  | — |  | 23 |
Net loss | $ | (98) |  | $ | 1 |  | $ | (97) |
| Three months ended September 30, 2024
Selling, general and administrative expenses | $ | 144 |  | $ | (2) |  | $ | 142 |
Total operating expenses, net | 207 |  | (2) |  | 206 |
Operating income | 34 |  | 2 |  | 35 |
Income before income taxes | 28 |  | 2 |  | 30 |
Income tax expense | (8) |  | — |  | (8) |
Net income | $ | 21 |  | $ | 1 |  | $ | 22 |
| Three months ended December 31, 2024
Selling, general and administrative expenses | $ | 177 |  | $ | (2) |  | $ | 175 |
Total operating expenses, net | 206 |  | (2) |  | 205 |
Operating income | 44 |  | 2 |  | 46 |
Income before income taxes | 36 |  | 2 |  | 38 |
Income tax expense | (16) |  | — |  | (17) |
Net income | $ | 20 |  | $ | 1 |  | $ | 21 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-7 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-8 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9 + Details
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