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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Total revenue $ 610 $ 581 $ 1,183 $ 1,034
Operating expenses:        
Selling, general and administrative 179 180 354 339
Research and development 56 48 109 93
Depreciation, amortization and impairments 107 96 215 193
Restructuring and other 42 30 78 51
Operating income 46 68 86 72
Other (expense) income:        
Interest expense (70) (119) (186) (240)
Loss on debt financing transactions (147) 0 (147) 0
Gain (loss) on remeasurement of debt and other 20 (7) 27 18
Other income, net 2 13 7 20
Total other expense, net (195) (113) (299) (202)
Net loss from continuing operations before income taxes (149) (45) (213) (130)
Income tax expense (1) (6) (4) (9)
Net loss from continuing operations (150) (51) (217) (139)
Net income from discontinued operations, net of tax(2) 3,445 164 3,540 243
Net income 3,295 113 3,323 104
Less: Net income attributable to noncontrolling interest 4 4 6 10
Net income attributable to L&W $ 3,291 $ 109 $ 3,317 $ 94
Per Share - Basic:        
Net loss from continuing operations (in dollars per share) $ (1.62) $ (0.58) $ (2.33) $ (1.55)
Net income from discontinued operations (in dollars per share) 36.23 1.71 36.94 2.53
Net income (loss) attributable to SGC (in dollars per share) 34.61 1.13 34.61 0.98
Per Share - Diluted:        
Net loss from continuing operations (in dollars per share) (1.62) (0.58) (2.33) (1.55)
Net income from discontinued operations (in dollars per share) 36.23 1.71 36.94 2.53
Net income (loss) attributable to SGC (in dollars per share) $ 34.61 $ 1.13 $ 34.61 $ 0.98
Weighted average number of shares used in per share calculations:        
Basic (in shares) 95 96 96 96
Diluted (in shares) 95 96 96 96
Services        
Revenue:        
Total revenue $ 445 $ 444 $ 876 $ 808
Operating expenses:        
Cost of goods and services sold 92 96 182 183
Product sales        
Revenue:        
Total revenue 165 137 307 226
Operating expenses:        
Cost of goods and services sold $ 88 $ 63 $ 159 $ 103