Other Financial Data

3 Months Ended

Mar. 31, 2024

Other Financial Data [Abstract]

Other Financial Data

Other Financial Data

Condensed Consolidated Statements of Income Information

Other Income (Expense)

Other income (expense) consists of the following (in millions):

	Three Months Ended March 31,
	2024		2023
Foreign currency remeasurement	4		(19)
Equity earnings	2		3
Pension and other postretirement	(10)		(17)
Financial instruments and other (1)	79		8
Total	$	75	$	(25)

(1)For the period ended March 31, 2024, an $82 million gain was recognized related to deferred consideration from the affiliates of The Blackstone Group L.P and the other designated purchasers related to a divestiture completed in a prior year period, refer to Note 7, “Acquisitions and Dispositions of Businesses” for additional information.

Condensed Consolidated Statements of Financial Position Information

Allowance for Doubtful Accounts

Changes in the net carrying amount of allowance for doubtful accounts are as follows (in millions):

	Three Months Ended March 31,
	2024		2023
Balance at beginning of period	$	79	$	76
Provision	5		7
Accounts written off, net of recoveries	(2)		—
Foreign currency translation and other	(1)		—
Balance at end of period	$	81	$	83

Other Current Assets

The components of Other current assets are as follows (in millions):

As of	March 31, 2024		December 31, 2023
Assets held for sale (1)	$	446	$	354
Costs to fulfill contracts with customers (2)	269		370
Prepaid expenses	128		100
Taxes receivable	19		35
Other	158		137
Total	$	1,020	$	996

(1)Refer to Note 7 “Acquisitions and Dispositions of Businesses” for further information.

(2)Refer to Note 3 “Revenue from Contracts with Customers” for further information.

Other Non-Current Assets

The components of Other non-current assets are as follows (in millions):

As of	March 31, 2024		December 31, 2023
Costs to obtain contracts with customers (1)	$	194	$	195
Taxes receivable	98		100
Investments	80		45
Leases	21		26
Other	132		140
Total	$	525	$	506

(1)Refer to Note 3 “Revenue from Contracts with Customers” for further information.

Other Current Liabilities

The components of Other current liabilities are as follows (in millions):

As of	March 31, 2024		December 31, 2023
Taxes payable	$	397	$	291
Deferred revenue (1)	360		270
Leases	179		182
Liabilities held for sale (2)	129		69
Other	1,081		1,066
Total	$	2,146	$	1,878

(1)During the three months ended March 31, 2024, revenue of $179 million was recognized in the Condensed Consolidated Statements of Income. During the three months ended March 31, 2023, revenue of $167 million was recognized in the Condensed Consolidated Statements of Income.

(2)Refer to Note 7 “Acquisitions and Dispositions of Businesses” for further information.

Other Non-Current Liabilities

The components of Other non-current liabilities are as follows (in millions):

As of	March 31, 2024		December 31, 2023
Taxes payable (1)	$	866	$	827
Compensation and benefits	55		59
Deferred revenue	31		33
Leases	5		10
Other	146		145
Total	$	1,103	$	1,074

(1)Includes $72 million for the non-current portion of the one-time mandatory transition tax on accumulated foreign earnings as of March 31, 2024 and December 31, 2023