Business Divestiture (Tables)

9 Months Ended

Sep. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the fair value of the sale consideration received in connection with the divestiture:

(DOLLARS IN MILLIONS)
Cash proceeds from the buyer	$	1,254
Amount held in escrow	15
Proceeds attributable to transition service agreements	(36)
Direct costs to sell	(11)
Fair Value of sale consideration	$	1,222

The following table summarizes the different components of net proceeds received from business divestiture presented under Cash flows from investing activities:

(DOLLARS IN MILLIONS)
Fair value of sale consideration	$	1,222
Amount held in escrow	(15)
Cash transferred to the buyer on the closing balance sheet	(49)
Net proceeds received from business divestiture	$	1,158

(DOLLARS IN MILLIONS)	June 30, 2022
Assets
Current assets	$	263
Goodwill and other intangible assets, net	867
Equity method investment	74
Other assets	80
Total assets	$	1,284
Liabilities
Accounts payable	$	41
Other liabilities	35
Total liabilities	$	76