Completed Divestiture of the Latin American Business and Planned Divestiture of European, Middle Eastern and African Business (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Components of pre-tax net income and held for sale assets and liabilities

The pre-tax net income of the Latin American business is estimated to be and reported as follows in the table below:

	Years Ended December 31,
	2022(1)		2021
	(Dollars in millions)
Latin American business pre-tax net income	$	197	214

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(1)The pre-tax net income includes operating results prior to the close of the sale of the Latin American business on August 1, 2022

	August 1, 2022
	(Dollars in millions)
Assets held for sale
Cash and cash equivalents	$	40
Accounts receivable, less allowance of $3	105
Other current assets	86
Property, plant and equipment, net accumulated depreciation of $447	1,703
Goodwill (1)	719
Customer relationships and other intangibles, net	140
Other non-current assets	70
Total assets held for sale	$	2,863
Liabilities held for sale
Accounts payable	$	105
Income and other taxes	42
Other current liabilities	59
Deferred income taxes	154
Other non-current liabilities	122
Total liabilities held for sale	$	482

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(1)    The assignment of goodwill was based on the relative fair value of the disposal group and the portion of the remaining reporting unit.

The pre-tax net income (loss) of the EMEA business is reported as follows in the table below:

	Years Ended December 31,
	2023(1)		2022	2021
	(Dollars in millions)
EMEA business pre-tax net income (loss)	$	145	(226)	(98)

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(1)The pre-tax net income includes operating results prior to the close of the sale of the EMEA business on November 1, 2023

	November 1, 2023
	EMEA Business
	(Dollars in millions)
Assets held for sale
Cash and cash equivalents	$	12
Accounts receivable, less allowance of $4	70
Other current assets	59
Property, plant and equipment, net accumulated depreciation of $1,019	1,957
Customer relationships and other intangible assets, net	107
Operating lease assets	208
Valuation allowance on assets held for sale(1)	(720)
Deferred tax assets	144
Other non-current assets	37
Total assets held for sale	$	1,874
Liabilities held for sale
Accounts payable	$	69
Salaries and benefits	20
Current portion of deferred revenue	25
Current operating lease liabilities	42
Other current liabilities	30
Deferred income taxes	60
Asset retirement obligations	32
Deferred revenue, non-current	102
Operating lease liabilities, non-current	93
Total liabilities held for sale	$	473

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(1)    Includes the impact of $350 million realized loss on foreign currency translation, net of tax, reclassified out of accumulated other comprehensive loss as of December 31, 2023 to the valuation allowance and loss on sale of the EMEA business.