Revenues, expenses, and operating earnings by segment and the reconciliation to earnings before taxes for the years ended December 31, 2025, 2024 and 2023, consists of the following: | | | | | | | | | | | | | | | | | | | (Dollars in millions) | 2025 | | 2024 | | 2023 | | Revenues | | | | | | | ASC | $ | 2,355 | | | $ | 2,118 | | | $ | 1,831 | | | IMS | 1,307 | | | 1,138 | | | 1,021 | | | Corporate & Eliminations | (14) | | | (22) | | | (26) | | Total revenues | $ | 3,648 | | | $ | 3,234 | | | $ | 2,826 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | Cost of revenues | | | | | | ASC | $ | 1,727 | | | $ | 1,598 | | | $ | 1,370 | | IMS | 1,066 | | | 922 | | | 834 | | Corporate & Eliminations | (14) | | | (22) | | | (26) | | Total cost of revenues | $ | 2,779 | | | $ | 2,498 | | | $ | 2,178 | | | | | | | | General and administrative | | | | | | ASC | $ | 260 | | | $ | 234 | | | $ | 226 | | IMS | 101 | | | 81 | | | 79 | | Corporate & Eliminations | 7 | | | 7 | | | (3) | | Total general and administrative | $ | 368 | | | $ | 322 | | | $ | 302 | | | | | | | | | | | | | | | Company-funded independent research and development | | | | | | ASC | $ | 104 | | | $ | 74 | | | $ | 66 | | IMS | 25 | | | 18 | | | 16 | | Corporate & Eliminations | — | | | — | | | — | | | Total company-funded independent research and development | $ | 129 | | | $ | 92 | | | $ | 82 | | | | | | | | | Amortization of acquired intangible assets | | | | | | ASC | $ | 22 | | | $ | 22 | | | $ | 22 | | IMS | — | | | — | | | — | | Corporate & Eliminations | — | | | — | | | — | | | Total amortization of acquired intangible assets | $ | 22 | | | $ | 22 | | | $ | 22 | | | | | | | | Other segment items | | | | | | ASC | $ | 2 | | | $ | 7 | | | $ | 11 | | IMS | — | | | — | | | — | | Corporate & Eliminations | — | | | — | | | — | | Total other segment items(1) | $ | 2 | | | $ | 7 | | | $ | 11 | | | | | | | | Operating earnings | | | | | | ASC | $ | 240 | | | $ | 183 | | | $ | 136 | | IMS | 115 | | | 117 | | | 92 | | Corporate & Eliminations | (7) | | | (7) | | | 3 | | Total operating earnings | $ | 348 | | | $ | 293 | | | $ | 231 | | Interest expense | (8) | | | (21) | | | (36) | | Other, net | (4) | | | (8) | | | (3) | | Earnings before taxes | $ | 336 | | | $ | 264 | | | $ | 192 | |
________________ (1)Includes ASC restructuring costs for the periods presented. Total intersegment revenues by segment for the years ended December 31, 2025, 2024 and 2023, consists of the following: | | | | | | | | | | | | | | | | | | | (Dollars in millions) | 2025 | | 2024 | | 2023 | | ASC | $ | 12 | | | $ | 21 | | | $ | 25 | | | IMS | 2 | | | 1 | | | 1 | | Total intersegment revenues | $ | 14 | | | $ | 22 | | | $ | 26 | |
|