Business Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2024

The following table sets forth net revenues by reportable segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
VSD	$	345	$	354	$	1,012	$	1,092
PSD		251		267		759		724
MSD		300		311		881		914
	$	896	$	932	$	2,652	$	2,730

The following table sets forth segment assets by reportable segment:

Goodwill associated with each of the Company’s reportable segments is as follows:


	VSD			PSD			MSD			Total
Reportable segment:
Gross goodwill, at December 31, 2023	$	359		$	1,007		$	3,021		$	4,387
Foreign currency translation		(1	)		2			12			13
Gross goodwill, at September 30, 2024		358			1,009			3,033			4,400
Accumulated goodwill impairment, at December 31, 2023 and September 30, 2024		(141	)		(390	)		(1,302	)		(1,833	)
Goodwill, net of accumulated impairment and foreign currency translation, at September 30, 2024	$	217		$	619		$	1,731		$	2,567

The following table reconciles gross profit by reportable segment to net income (loss):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Gross profit by reportable segment:
VSD	$	148		$	148		$	431		$	456
PSD		113			110			341			310
MSD		171			168			495			465
Total gross profit by reportable segment		432			426			1,267			1,231
Operating expenses:
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			—			5			—
Amortization of intangible assets		61			68			184			225
Goodwill and intangible asset impairments		—			—			—			1,827
Gain on sale of long-lived assets		—			(2	)		—			(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			—			52			—
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	)

The following table reconciles total segment assets to total assets:


	September 30, 2024		December 31, 2023
Total segment assets	$	1,549	$	1,594
Cash and cash equivalents		861		875
Other current assets		258		227
Property, plant and equipment, net		770		784
Right-of-use assets, net		247		225
Goodwill and intangible assets, net		5,010		5,173
Other assets		328		240
Total assets	$	9,023	$	9,118

Goodwill associated with each of the Company’s reportable segments is as follows:


	VSD			PSD			MSD			Total
Reportable segment:
Gross goodwill, at December 31, 2023	$	359		$	1,007		$	3,021		$	4,387
Foreign currency translation		(1	)		2			12			13
Gross goodwill, at September 30, 2024		358			1,009			3,033			4,400
Accumulated goodwill impairment, at December 31, 2023 and September 30, 2024		(141	)		(390	)		(1,302	)		(1,833	)
Goodwill, net of accumulated impairment and foreign currency translation, at September 30, 2024	$	217		$	619		$	1,731		$	2,567

Intercompany sales between geographic areas are at tax transfer prices and have been eliminated from consolidated net revenues.


	Three Months Ended September 30,				Nine Months Ended September 30,
Net revenues:	2024		2023		2024		2023
United States	$	194	$	236	$	615	$	688
China		192		192		561		552
South Korea		89		93		260		262
Taiwan		66		67		176		195
Japan		65		68		177		208
Singapore		60		52		171		176
Other		230		224		692		649
	$	896	$	932	$	2,652	$	2,730