v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 18 $ 35
Accounts receivable, net of $16 and $13 in allowances, respectively 1,065 1,227
Other current assets 101 77
Total current assets 1,184 1,339
Property and equipment, net of $351 and $317 in accumulated depreciation, respectively 137 135
Operating lease assets 250 276
Goodwill 1,125 1,123
Identifiable intangible assets, net of $144 and $146 in accumulated amortization, respectively 474 499
Other long-term assets 31 42
Total long-term assets 2,017 2,075
Total assets 3,201 3,414
Current liabilities    
Accounts payable 461 568
Accrued expenses 315 373
Short-term debt and current maturities of long-term debt 16 17
Short-term operating lease liabilities 75 81
Other current liabilities 13 26
Total current liabilities 880 1,065
Long-term debt and obligations under finance leases 387 351
Deferred tax liabilities 75 88
Long-term operating lease liabilities 201 215
Other long-term liabilities 70 83
Total long-term liabilities 733 737
Commitments and Contingencies (Note 11)
Equity    
Preferred stock, $0.01 par value; 10,000 shares authorized; 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value; 300,000 shares authorized; 163,970 and 162,517 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 2 2
Additional paid-in capital 1,915 1,904
Accumulated deficit (324) (284)
Accumulated other comprehensive loss (5) (10)
Total equity 1,588 1,612
Total liabilities and equity $ 3,201 $ 3,414
Common stock, shares outstanding (in shares) 163,970,000 162,517,000
Common stock, shares issued (in shares) 163,970,000 162,517,000