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Revised 2023 Quarterly Financial Statements
6 Months Ended
Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]  
Revised 2023 Quarterly Financial Statements
17. REVISED 2023 QUARTERLY FINANCIAL STATEMENTS

As described in Note 1, “Basis of Presentation and Summary of Significant Accounting Policies”, in February 2024, the Company identified fraudulent ACH disbursements from a Company bank account. The Company evaluated the impact of the errors and concluded they are not material to any previously issued interim consolidated financial statements. The following table sets forth the Company’s results of operations for the three and six months ended June 30, 2023, which have been retrospectively adjusted to reflect NCR Atleos historical financial results as discontinued operations, including the delayed countries that transferred to NCR Atleos during the three and six months ended June 30, 2024, as well as the revision impact of the fraudulent ACH disbursements and other immaterial errors.
Three months ended June 30, 2023Six months ended June 30, 2023
In millions, except per share amountsAs reportedDiscontinued operationsAdjustmentAs recasted and revisedAs reportedDiscontinued operationsAdjustmentAs recasted and revised
Product revenue$576 $265 $ $311 $1,097 $498 $ $599 
Service revenue1,410 775  635 2,780 1,527  1,253 
Total revenue1,986 1,040  946 3,877 2,025  1,852 
Cost of products478 209  269 934 398  536 
Cost of services970 557  413 1,939 1,111  828 
Selling, general and administrative expenses333 169 3 167 625 308 5 322 
Research and development expenses57 15  42 121 30  91 
Total operating expenses1,838 950 3 891 3,619 1,847 5 1,777 
Income (loss) from operations148 90 (3)55 258 178 (5)75 
Loss on extinguishment of debt        
Interest expense(91)  (91)(174)  (174)
Other income (expense), net(8)  (8)(11)1  (12)
Income (loss) from continuing operations before income taxes49 90 (3)(44)73 179 (5)(111)
Income tax expense (benefit)30 22 (1)7 44 31 (1)12 
Income from continuing operations19 68 (2)(51)29 148 (4)(123)
Income (loss) from discontinued operations, net of tax(1)(68) 67 (1)(148) 147 
Net income (loss)18  (2)16 28  (4)24 
Net income (loss) attributable to noncontrolling interests(1)(1)      
Net income attributable to noncontrolling interests of discontinued operations 1  (1)    
Net income (loss) attributable to NCR Voyix$19 $ $(2)$17 $28 $ $(4)$24 
Amounts attributable to NCR Voyix common stockholders
Income (loss) from continuing operations$20 $(51)$29 $(123)
Series A convertible preferred stock dividends(4)(4)(8)(8)
Income (loss) from continuing operations attributable to NCR Voyix16 (55)21 (131)
Income (loss) from discontinued operations, net of tax(1)68 (1)147 
Net income (loss) attributable to NCR Voyix common stockholders$15 $13 $20 $16 
Income (loss) per share attributable to common stockholders:
Basic earnings (loss) per share:
     Continuing operations$0.11 $(0.39)$0.15 $(0.94)
     Discontinued operations 0.48 (0.01)1.05 
     Net income attributable to common shareholders$0.11 $0.09 $0.14 $0.11 
Diluted earnings (loss) per share:
     Continuing operations$0.11 $(0.39)$0.15 $(0.94)
     Discontinued operations 0.48 (0.01)1.05 
Diluted earnings per share attributable to common shareholders$0.11 $0.09 $0.14 $0.11 
There is no impact to the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2023, other than the impact to Net income (loss) as presented above. There is no impact to the Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit) for the three and six months ended June 30, 2023 other than the impact to Retained earnings as a result of the changes in Net income (loss) as presented above.

There is no net impact of the adjustments described above to the Condensed Consolidated Statements of Cash Flows to “Net cash provided by operating activities” for the six months ended June 30, 2023, as the impact to Net income (loss) is offset by the changes to operating assets and liabilities, net of effects of business acquired noted above.