Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 423 $ 341
Accounts receivable and contract assets, net of allowance for doubtful accounts of $33 million and $25 million, respectively 83 183
Income taxes receivable (note 9) 50 4
Other current assets 23 29
Total current assets 579 557
Property and equipment, at cost 255 254
Accumulated depreciation (123) (99)
Property and equipment, net 132 155
Intangible assets not subject to amortization (note 6):    
Goodwill 2,240 2,527
Trademarks 732 980
Intangible assets not subject to amortization 2,972 3,507
Intangible assets subject to amortization, net (note 6) 202 277
Other assets, at cost, net of accumulated amortization 201 230
Total assets 4,086 4,726
Current liabilities:    
Deferred merchant and other payables 54 170
Deferred revenue 28 62
Accrued liabilities and other current liabilities 160 205
Total current liabilities 242 437
Long-term debt (note 7) 532 353
Deferred income tax liabilities (note 9) 180 254
Other liabilities 353 381
Total liabilities 1,307 1,425
Redeemable preferred stock, $.01 par value. Authorized shares 50,000,000; issued and outstanding 325,000 shares at December 31, 2020 and 0 at December 31, 2019 (note 10) 472  
Equity:    
Additional paid-in capital 257 237
Accumulated other comprehensive earnings (loss), net of taxes (23) (29)
Retained earnings (deficit) (278) 111
Total stockholders' equity (43) 320
Noncontrolling interests in equity of subsidiaries 2,350 2,981
Total equity 2,307 3,301
Commitments and contingencies (note 14)
Total liabilities and equity 4,086 4,726
Series A    
Equity:    
Common stock value 1 1
Series B    
Equity:    
Common stock value
Series C    
Equity:    
Common stock value