XML 18 R3.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 98 $ 29
Accounts receivable, net of allowances of $13 and $9, respectively 900 1,010
Other current assets 31 44
Total current assets 1,029 1,083
Property and equipment, net of $241 and $219 in accumulated depreciation, respectively 119 111
Operating lease assets 159 128
Goodwill 630 630
Identifiable intangible assets, net of $106 and $217 in accumulated amortization, respectively 79 100
Other long-term assets 15 16
Total long-term assets 1,002 985
Total assets 2,031 2,068
Current liabilities    
Accounts payable 501 520
Accrued expenses 256 248
Current maturities of long-term debt 4 0
Short-term operating lease liabilities 48 42
Other current liabilities 14 6
Total current liabilities 823 816
Long-term debt and obligations under finance leases - carrying value 451 0
Deferred tax liability 16 52
Long-term operating lease liabilities 114 93
Other long-term liabilities 40 37
Total long-term liabilities 621 182
Commitments and Contingencies (Note 14)
Equity    
Preferred stock, $0.01 par value; 10,000 shares authorized; 0 shares issued and outstanding as of December 31, 2022 0 0
Common stock, $0.01 par value; 300,000 shares authorized; 116,400 shares issued and outstanding as of December 31, 2022 1 0
Additional paid-in capital 588 0
Retained earnings 2 0
XPO investment 0 1,072
Accumulated other comprehensive loss (4) (2)
Total equity 587 1,070
Total liabilities and equity $ 2,031 $ 2,068