0000070866-23-000008 | 10-K | XBRL Viewer

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Cover Page - USD ($) shares in Millions, $ in Millions	12 Months Ended
Cover Page - USD ($) shares in Millions, $ in Millions	Dec. 31, 2022	Feb. 10, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-00395
Entity Registrant Name	NCR CORPORATION
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	31-0387920
Entity Address, Address Line One	864 Spring Street NW
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30308
City Area Code	937
Local Phone Number	445-1936
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NCR
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 4,200.0
Entity Common Stock, Shares Outstanding		139.3
Entity Central Index Key	0000070866
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Atlanta, Georgia
Auditor Firm ID	238

Consolidated Statements of Operations - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue by segment	$ 7,844,000,000	$ 7,156,000,000	$ 6,207,000,000
Selling, general and administrative expenses	1,152,000,000	1,151,000,000	1,069,000,000
Research and development expenses	217,000,000	268,000,000	234,000,000
Total operating expenses	7,355,000,000	6,682,000,000	5,986,000,000
Income from operations	489,000,000	474,000,000	221,000,000
Loss on extinguishment of debt	0	(42,000,000)	(20,000,000)
Interest expense	(285,000,000)	(238,000,000)	(218,000,000)
Other income (expense), net	7,000,000	90,000,000	(42,000,000)
Income (loss) from continuing operations before income taxes	211,000,000	284,000,000	(59,000,000)
Income tax expense (benefit)	148,000,000	186,000,000	(53,000,000)
Income (loss) from continuing operations	63,000,000	98,000,000	(6,000,000)
Loss (income) from discontinued operations	(4,000,000)	0	(72,000,000)
Net income (loss)	59,000,000	98,000,000	(78,000,000)
Net income (loss) attributable to noncontrolling interests	(1,000,000)	1,000,000	1,000,000
Net income (loss) attributable to NCR	60,000,000	97,000,000	(79,000,000)
Amounts attributable to NCR common stockholders:
Income (loss) from continuing operations	64,000,000	97,000,000	(7,000,000)
Series A convertible preferred stock dividends	(16,000,000)	(16,000,000)	(31,000,000)
Income (loss) from continuing operations attributable to NCR	48,000,000	81,000,000	(38,000,000)
Income (loss) from discontinued operations, net of tax	(4,000,000)	0	(72,000,000)
Net income (loss) attributable to NCR common stockholders	$ 44,000,000	$ 81,000,000	$ (110,000,000)
Income (loss) per common share from continuing operations
Basic (in dollars per share)	$ 0.35	$ 0.62	$ (0.30)
Diluted (in dollars per share)	0.34	0.58	(0.30)
Net income (loss) per common share
Basic (in dollars per share)	0.32	0.62	(0.86)
Diluted (in dollars per share)	$ 0.31	$ 0.58	$ (0.86)
Weighted average common shares outstanding
Basic (in shares)	136.7	131.2	128.4
Diluted (net income)	141.2	139.0	128.4
Product
Revenue by segment	$ 2,351,000,000	$ 2,193,000,000	$ 2,005,000,000
Cost of products	2,097,000,000	1,850,000,000	1,733,000,000
Service
Revenue by segment	5,493,000,000	4,963,000,000	4,202,000,000
Cost of products	$ 3,889,000,000	$ 3,413,000,000	$ 2,950,000,000

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 59	$ 98	$ (78)
Currency translation adjustments
Currency translation adjustments gain (loss)	(132)	(30)	15
Derivatives
Unrealized gain (loss) on derivatives	152	9	(8)
Loss (gain) on derivatives arising during the period	(18)	1	7
Less income tax benefit (expense)	(33)	(2)	0
Employee benefit plans
Prior service benefit	0	6	(1)
Amortization of prior service cost	(2)	(1)	(4)
Net (loss) gain arising during the period	25	(1)	(11)
Amortization of actuarial (loss) gain	0	(1)	(3)
Less income tax benefit (expense)	(4)	(1)	3
Other comprehensive income (loss)	(12)	(20)	(2)
Total comprehensive income (loss)	47	78	(80)
Less comprehensive income attributable to noncontrolling interests:
Net income	(1)	1	1
Currency translation adjustments	(3)	0	0
Amounts attributable to noncontrolling interests	(4)	1	1
Comprehensive income (loss) attributable to NCR common stockholders	$ 51	$ 77	$ (81)

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 505	$ 447
Accounts receivable, net of allowances of $34 and $24 as of December 31, 2022 and 2021, respectively	1,083	959
Inventories	772	754
Restricted cash	228	295
Prepaid and other current assets	494	421
Total current assets	3,082	2,876
Property, plant and equipment, net	663	703
Goodwill	4,540	4,519
Intangibles, net	1,145	1,316
Operating lease assets	371	419
Prepaid pension cost	212	300
Deferred income taxes	598	732
Other assets	896	776
Total assets	11,507	11,641
Current liabilities
Short-term borrowings	104	57
Accounts payable	942	826
Payroll and benefits liabilities	207	389
Contract liabilities	537	516
Settlement liabilities	250	263
Other current liabilities	673	757
Total current liabilities	2,713	2,808
Long-term debt	5,561	5,505
Pension and indemnity plan liabilities	614	789
Postretirement and postemployment benefits liabilities	91	119
Income tax accruals	97	116
Operating lease liabilities	353	388
Other liabilities	324	383
Total liabilities	9,753	10,108
Commitments and Contingencies (Note 10)
Series A convertible preferred stock: par value $0.01 per share, 3.0 shares authorized, 0.3 shares issued and outstanding as of December 31, 2022 and 2021; redemption amount and liquidation preference of $276 as of December 31, 2022 and 2021	275	274
Stockholders’ equity
Preferred stock	0	0
Common stock	1	1
Paid-in capital	704	515
Retained earnings	1,075	1,031
Accumulated other comprehensive loss	(300)	(291)
Total NCR stockholders’ equity	1,480	1,256
Noncontrolling interests in subsidiaries	(1)	3
Total stockholders’ equity	1,479	1,259
Total liabilities and stockholders’ equity	$ 11,507	$ 11,641

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 34	$ 24
Convertible Preferred Stock
Temporary equity, par value (in dollars per share)	$ 0.01	$ 0.01
Temporary equity, shares authorized (in shares)	3,000,000.0	3,000,000.0
Temporary equity, shares issued (in shares)	300,000	300,000
Temporary equity, shares outstanding (in shares)	300,000	300,000
Temporary equity, aggregate amount of redemption requirement	$ 276	$ 276
Temporary equity, liquidation preference	$ 276	$ 276
Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000.0	100,000,000.0
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000.0	500,000,000.0
Common stock, shares outstanding (in shares)	138,000,000.0	132,200,000
Common stock, shares issued (in shares)	138,000,000.0	132,200,000

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income (loss)	$ 59	$ 98	$ (78)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss (income) from discontinued operations	4	0	72
Loss on debt extinguishment	0	42	20
Depreciation and amortization	610	517	364
Stock-based compensation expense	125	154	108
Deferred income taxes	60	89	(112)
Loss (gain) on disposal of property, plant and equipment and other assets	(10)	0	(1)
Loss on divestiture	9	0	0
Impairment of other assets	0	24	46
Bargain purchase gain on acquisition	0	0	(7)
Changes in assets and liabilities:
Receivables	(216)	215	420
Inventories	(188)	(195)	168
Current payables and accrued expenses	29	255	(295)
Contract liabilities	(1)	(15)	2
Employee benefit plans	(61)	(147)	(51)
Other assets and liabilities	27	40	(15)
Net cash provided by operating activities	447	1,077	641
Investing activities
Expenditures for property, plant and equipment	(92)	(106)	(31)
Proceeds from sales of property, plant and equipment	10	1	7
Additions to capitalized software	(285)	(242)	(232)
Business acquisitions, net of cash acquired	(13)	(2,473)	(25)
Proceeds from divestiture, net	(2)	0	0
Purchases of short-term investments	0	(13)	(20)
Proceeds from sale of short-term investments	0	14	27
Other investing activities, net	(5)	(7)	(3)
Net cash used in investing activities	(387)	(2,826)	(277)
Financing activities
Short term borrowings, net	1	0	0
Payments on term credit facilities	(63)	(107)	(12)
Borrowings on term credit facilities	0	1,505	4
Payments on revolving credit facilities	(1,192)	(1,650)	(1,998)
Borrowings on revolving credit facilities	1,333	1,756	1,535
Payments of senior unsecured notes	0	(400)	(1,300)
Proceeds from issuance of senior unsecured and other notes	12	1,200	1,500
Debt issuance costs and bridge commitment fees	0	(53)	(21)
Call premium paid on debt extinguishment	0	(37)	(15)
Cash paid for Series A Convertible Preferred Stock dividends	(15)	(15)	(9)
Repurchases of common stock	0	0	(41)
Tax withholding payments on behalf of employees	(59)	(50)	(28)
Proceeds from employee stock plans	31	44	17
Net change in client funds obligations	(28)	4	12
Repurchase of Series A Preferred shares	0	0	(144)
Principal payments for finance lease obligations	(15)	(17)	(13)
Other financing activities	(4)	(2)	(1)
Net cash provided by (used in) financing activities	1	2,178	(514)
Cash flows from discontinued operations
Net cash provided by (used in) operating activities of discontinued operations	(20)	(68)	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(50)	(18)	(7)
Increase (decrease) in cash, cash equivalents and restricted cash	(9)	343	(157)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash at beginning of period	749	406	563
Cash, cash equivalents and restricted cash at end of period	$ 740	$ 749	$ 406

Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Total Stockholders Equity	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interests in Subsidiaries
Balance at beginning of period (in shares) at Dec. 31, 2019			127.0
Balance at beginning of period at Dec. 31, 2019		$ 1,107	$ 1	$ 312	$ 1,060	$ (269)	$ 3
Comprehensive income (loss):
Net income (loss)		(78)			(79)		1
Other comprehensive income (loss)	$ (2)	(2)				(2)
Total comprehensive income (loss)		(80)			(79)	(2)
Total comprehensive income (loss), attributable to nonredeemable noncontrolling interest							1
Employee stock purchase and stock compensation plans (in shares)			4.0
Employee stock purchase and stock compensation plans		97		97
Deemed dividend from redemption of Series A preferred stock					(12)
Repurchase of Company common stock (in shares)			(2.0)
Repurchase of Company common stock		(41)		(41)
Series A convertible preferred stock dividends		(19)			(19)
Dividends paid to minority shareholder		(1)					(1)
Balance at end of period (in shares) at Dec. 31, 2020			129.0
Balance at end of period at Dec. 31, 2020		1,051	$ 1	368	950	(271)	3
Comprehensive income (loss):
Net income (loss)		98			97		1
Other comprehensive income (loss)	$ (20)	(20)				(20)
Total comprehensive income (loss)		78			97	(20)
Total comprehensive income (loss), attributable to nonredeemable noncontrolling interest							1
Employee stock purchase and stock compensation plans (in shares)			3.0
Employee stock purchase and stock compensation plans		128		128
Fair value of converted Cardtronics awards attributable to pre-combination services		19		19
Series A convertible preferred stock dividends		(16)			(16)
Dividends paid to minority shareholder		(1)					(1)
Balance at end of period (in shares) at Dec. 31, 2021	132.2		132.0
Balance at end of period at Dec. 31, 2021	$ 1,259	1,259	$ 1	515	1,031	(291)	3
Comprehensive income (loss):
Net income (loss)		59			60		(1)
Other comprehensive income (loss)	(12)	(12)				(9)	(3)
Total comprehensive income (loss)		47			60	(9)
Total comprehensive income (loss), attributable to nonredeemable noncontrolling interest							(4)
Employee stock purchase and stock compensation plans (in shares)			5.0
Employee stock purchase and stock compensation plans		121		121
Deemed dividend from redemption of Series A preferred stock	$ (67)
Stock issued in acquisition of LibertyX (in shares)			1.0
Stock issued in acquisition of LibertyX		68		68
Series A convertible preferred stock dividends		(16)			(16)
Balance at end of period (in shares) at Dec. 31, 2022	138.0		138.0
Balance at end of period at Dec. 31, 2022	$ 1,479	$ 1,479	$ 1	$ 704	$ 1,075	$ (300)	$ (1)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Description of Business NCR Corporation (“NCR”, the “Company”, “we” or “us”) was originally incorporated in 1884 and is a software- and services-led enterprise technology provider that runs stores, restaurants and self-directed banking for our customers, which includes businesses of all sizes. Our software platform, which runs in the cloud and includes microservices and APIs that integrate with our customers' systems, and our NCR-as-a-Service solutions bring together all of the capabilities and competencies of NCR to power the technology to run our customers’ operations. Our portfolio includes digital first software and services offerings for banking, retailers and restaurants, as well as payments processing and networks, multi-vendor connected device services, automated teller machines (“ATMs”), self-checkout (“SCO”), point of sale (“POS”) terminals and other self-service technologies. We also resell third-party networking products and provide related service offerings in the telecommunications and technology sector. Our solutions are designed to support our transition to becoming a software platform and payments company.

Change in reportable segments Effective January 1, 2022, the Company realigned its reportable segments to correspond with changes to its operating model, management structure and organizational responsibilities. The reportable segments effective January 1, 2022 include: Retail, Hospitality, Digital Banking, Payments & Network, and Self-Service Banking. Additionally, effective January 1, 2022, the Company manages Corporate & Other, which includes income and expenses that are not specifically attributable to an individual reportable segment and thus will be reflected only in consolidated results, as well as our telecommunications and technology business, an immaterial operating segment. We have reclassified prior period segment disclosures to conform to current period presentation. Refer to Note 4, “Segment Information and Concentrations”, for additional information on our reportable segments.

Conflict in Eastern Europe The war in Eastern Europe and related sanctions imposed on Russia and related actors by the United States and other jurisdictions required us to commence the orderly wind down of our operations in Russia beginning in the first quarter of 2022. As of December 31, 2022, we have ceased operations in Russia and are in the process of dissolving our only subsidiary in Russia. As a result of these actions, our results for the year ended December 31, 2022 reflect the impact of the impairment and write down of the assets and liabilities of the entity, severance charges, the assessment of collectability on revenue recognition, and the residual operations of the entity. We recognized a pre-tax net loss of $22 million for the year ended December 31, 2022 related to these actions, recognized primarily in Cost of products, Cost of services and Selling, general and administrative expenses on the Consolidated Statements of Operations.

Announcement of Planned Separation On September 15, 2022, NCR announced a plan to separate into two independent, publicly traded companies – one focused on digital commerce, the other on ATMs. The separation is intended to be structured in a tax-free manner. The separation transaction will follow the satisfaction of customary conditions, including effectiveness of appropriate filings with the U.S. Securities and Exchange Commission, and the completion of audited financial statements. The current target is to complete the separation by the end of 2023. Should alternative options become available in the future that could deliver superior value to our shareholders than the planned separation, such as a whole or partial company sale of NCR, the Board of Directors remains open to considering alternative scenarios.

Use of Estimates The preparation of financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and revenue and expenses during the periods reported.

Although our estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing variants of the coronavirus (“COVID-19”) pandemic, macroeconomic pressures and geopolitical challenges. The ultimate impact on our overall financial condition and operating results will depend on the duration and severity of the pandemic, supply chain challenges and cost escalations including materials, interest, labor and freight, and any additional governmental and public actions taken in response. As a result, our accounting estimates and assumptions may change over time as a consequence of the effects these external factors. Such changes could result in future impairments of goodwill, intangible assets, long-lived assets, incremental credit losses on accounts receivable and decreases in the carrying amount of our tax assets.

Evaluation of Subsequent Events The Company evaluated subsequent events through the date that our Consolidated Financial Statements were issued. Other than the items discussed within the Notes to Consolidated Financial Statements, no matters were identified that required adjustment of the Consolidated Financial Statements or additional disclosure.

Basis of Consolidation The consolidated financial statements include the accounts of NCR and its majority-owned subsidiaries. Long-term investments in affiliated companies in which NCR owns between 20% and 50%, and therefore, exercises significant influence, but which it does not control, are accounted for using the equity method. Investments in which NCR does not exercise significant influence (generally, when NCR has an investment of less than 20% and no significant influence, such as representation on the investee’s board of directors) are accounted for using the cost method. All significant inter-company transactions and accounts have been eliminated. In addition, the Company is required to determine whether it is the primary beneficiary of economic income or losses that may be generated by variable interest entities in which the Company has such an interest. In circumstances where the Company determined it is the primary beneficiary, consolidation of that entity would be required. For the periods presented, no variable interest entities have been consolidated.

On June 21, 2021, we completed the acquisition of Cardtronics plc (“Cardtronics”). The December 31, 2021 year-to-date results include the operations of Cardtronics from June 21, 2021 to December 31, 2021. Refer to Note 2, “Business Combinations”, for additional disclosure.

Reclassifications Certain prior-period amounts have been reclassified in the accompanying Consolidated Financial Statements and Notes thereto in order to conform to the current period presentation.

Revenue Recognition The Company records revenue, net of sales tax, when the following five steps have been completed:

•Identification of the contract(s) with a customer

•Identification of the performance obligation(s) in the contract

•Determination of the transaction price

•Allocation of the transaction price to the performance obligations in the contract

•Recognition of revenue when, or as, we satisfy performance obligations

The Company records revenue when, or as, performance obligations are satisfied by transferring control of a promised good or service to the customer, in an amount that reflects the consideration we expect to be entitled to in exchange for products and services. The Company evaluates the transfer of control primarily from the customer’s perspective where the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from that good or service. The Company does not adjust the transaction price for taxes collected from customers, as those amounts are netted against amounts remitted to government authorities.

NCR enters contracts that include multiple distinct performance obligations, including hardware, software, professional consulting and managed services, payment processing services, installation services and maintenance support services. A promise to a customer is considered distinct when the product or service is both capable of being distinct, and distinct in the context of the contract. For these arrangements, the Company allocates the transaction price, at contract inception, to each distinct performance obligation on a relative standalone selling price basis. The primary method used to estimate standalone selling price is the price that the Company charges for that good or service when the Company sells it separately in similar circumstances to similar customers.

For hardware products, control is generally transferred when the customer has the ability to direct the use of and obtain substantially all of the remaining benefits of the products, which generally coincides with when the customer has assumed title and risk of loss of the goods sold. In certain instances, customer acceptance is required prior to the passage of title and risk of loss of the delivered products. In such cases, revenue is not recognized until the customer acceptance is obtained. Delivery, acceptance, and transfer of title and risk of loss generally occur in the same reporting period. NCR's customers may request that delivery and passage of title and risk of loss occur on a bill and hold basis. For the periods ending December 31, 2022, 2021, and 2020, the revenue recognized from bill and hold transactions approximated 1% of total revenue, respectively. Hardware products may also be included in an As-a-service package and sold in a bundle with managed services. In these packages, title to the hardware is not transferred to the customer and revenue is recognized in consideration of lease accounting standards, depending on the terms and conditions in the contract. Most hardware leases embedded in our As-a-service contracts qualify for classification as operating leases. Revenue from the hardware operating leases in an As-a-service package is recognized over the term of the contract, which is the same pattern and timing as the services in the contract.

Software products may be sold as perpetual licenses, term-based licenses, cloud-enabled and software as a service (“SaaS”). Perpetual license revenue is recognized at a point in time when control transfers to the customer and is reported within product revenue. Control is typically transferred when the customer takes possession of, or has access to, the software. Term-based license revenue is recognized at a point in time upon the commencement of the committed term of the contract, concurrent with the possession of the license, and reported within product revenue. The committed term of the contract is typically one month to one year due to customer termination rights. If the amount of consideration the Company expects to be paid in exchange for the licenses depends on customer usage, revenue is recognized when the usage occurs.

Software as a service (SaaS) primarily consists of fees to provide our customers access to our platform and cloud-based applications for a specified contract term. Revenue from SaaS contracts is recognized as variable consideration directly allocated based on customer usage or on a ratable basis over the contract term beginning on the date that our service is made available to the customer. SaaS is reported as part of our services revenue.

The Company sells some product solutions that include a combination of cloud-enabled and on-premise term-based software licenses for a specified contract term. Significant judgment is required to determine if the products and services represent distinct promises to the customer or if they should be combined into one performance obligation. When they are combined into one performance obligation, revenue is recognized ratably over the contract term for which the service is provided.

In addition to SaaS, our services revenue includes professional consulting, payment processing revenue, managed services, installation and maintenance support. Professional consulting primarily consists of software implementation, integration, customization and optimization services. Revenue from professional consulting contracts is recognized when the services are completed or customer acceptance of the service is received, if required. For installation and maintenance, control is transferred as the services are provided or ratably over the service period, or, if applicable, after customer acceptance of the service. For recurring services that we perform over a contract term, we analyze if the services are performed evenly throughout the term for fixed consideration. If so, we ratably recognize the corresponding consideration over the committed term. Otherwise, we apply the ‘as invoiced’ practical expedient, for performance obligations satisfied over time, if the amount we may invoice corresponds directly with the value to the customer of the Company’s performance to date. This expedient permits us to recognize revenue in the amount we invoice the customer.

Payment processing revenue includes surcharge and other fees paid by cardholders and/or the cardholder’s financial institutions for the use of processing services. Surcharge revenues are recognized daily as the associated transactions are processed. In addition, relative to ATM transactions, the Company typically receives a majority of the interchange fee paid by the cardholder’s financial institution, net of the amount retained by the payment network, and recognizes the net amount received from the network as revenue. Relative to credit card processing, revenue is comprised of fees charged to the Company's customers, net of interchange fees and assessments charged by the credit card associations and payment networks, which are pass-through charges collected on behalf of the card issuers and payment networks.

Under our managed service agreements, the Company provides various forms of services, including monitoring, cash management, cash delivery, customer service, on-screen advertising, processing and other services, under one contract package. The Company typically receives a monthly service fee, fee per transaction, or fee per service provided in return for providing the agreed-upon services. The managed services fees are recognized as the related services are provided to the customers.

The Company also recognizes revenue related to branding arrangements and providing access to the Company’s surcharge-free network and equipment. Customers may be charged on a per transaction basis or a fixed monthly fee. Under these arrangements, the Company is providing a series of distinct services with similar patterns of transfer to the customer. As a result, these arrangements create performance obligations that are satisfied over-time for which the Company has a right to consideration that corresponds directly with the value of the Company’s performance completed to date. In conjunction with these arrangements, the Company recognizes revenue in the amount that it has a right to receive using the ‘as invoiced’ practical expedient described above. Revenues are generally recognized on a ratable basis over the contract term beginning on the date that our service is made available to the customer, except for transaction-based fee arrangements which are recognized daily as the transactions are processed. Any up-front fees associated with these arrangements are recognized ratably over the life of the arrangement.

The nature of our arrangements gives rise to several types of variable consideration including service level agreement credits, stock rotation rights, trade-in credits and volume-based rebates. At contract inception, we include this variable consideration in our transaction price when there is a basis to reasonably estimate the amount of the fee and it is probable there will not be a significant reversal. These estimates are generally made using the expected value method and a portfolio approach, based on

historical experience, anticipated performance and our best judgment at the time. These estimates are reassessed at each reporting date. Because of our confidence in estimating these amounts, they are included in the transaction price of our contracts and the associated remaining performance obligations.

Payment terms with our customers are established based on industry and regional practices and generally do not exceed 30 days. We do not typically include extended payment terms in our contracts with customers. As a practical expedient, we do not adjust the promised amount of consideration for the effects of a significant financing component when we expect, at contract inception, that the period between our transfer of a promised product or service to a customer and when the customer pays for that product or service will be one year or less. If the period between transfer of the promised product or service and payment is more than one year, the Company analyzes whether a significant financing component is present. If so, the Company adjusts the total consideration to reflect the significant financing component.

We account for shipping and handling activities related to contracts with customers as costs to fulfill our promise to transfer the associated products, rather than as a separate performance obligation. Accordingly, we record amounts billed for shipping and handling costs as a component of net product sales, and classify such costs as a component of cost of products.

In addition to the standard product warranty, the Company periodically offers extended warranties to its customers in the form of product maintenance services. For maintenance contracts that have been combined with product contracts under the revenue guidance, the Company defers revenue at an amount based on the relative standalone selling price allocation, and recognizes the deferred revenue over the service term. For non-combined maintenance contracts, NCR defers the stated amount of the separately priced service and recognizes the deferred revenue over the service term.

Remaining Performance Obligations Remaining performance obligations represent the transaction price of contracts for which products have not been delivered or services have not been performed. As of December 31, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $3.8 billion. The Company expects to recognize revenue on approximately three-quarters of the remaining performance obligations over the next 12 months, with the remainder recognized thereafter. The majority of our professional services are expected to be recognized over the next 12 months but this is contingent upon a number of factors, including customers’ needs and schedules.

The Company has made three elections which affect the value of remaining performance obligations described above. We do not disclose remaining performance obligations for contracts where variable consideration is directly allocated based on usage or when the original expected duration is one year or less. Additionally, we do not disclose remaining performance obligations for contracts where we recognize revenue from the satisfaction of the performance obligation in accordance with the ‘right to invoice’ practical expedient.

Warranty and Sales Returns Provisions for product warranties and sales returns and allowances are recorded in the period in which NCR becomes obligated to honor the related right, which generally is the period in which the related product revenue is recognized. The Company accrues warranty reserves based upon historical factors such as labor rates, average repair time, travel time, number of service calls per machine and cost of replacement parts. When a sale is consummated, a warranty reserve is recorded based upon the estimated cost to provide the service over the warranty period. The Company accrues sales returns and allowances using percentages of revenue to reflect the Company’s historical average of sales return claims.

Research and Development Costs Research and development costs primarily include payroll and benefit-related costs, contractor fees, facilities costs, infrastructure costs, and administrative expenses directly related to research and development support and are expensed as incurred, except certain software development costs are capitalized after technological feasibility of the software is established.

Advertising Advertising costs are recognized in selling, general and administrative expenses when incurred.

Stock-based Compensation Stock-based compensation represents the costs related to share-based awards granted to employees and non-employee directors. The Company’s outstanding stock-based compensation awards are classified as equity. The Company measures stock-based compensation cost at the grant date, based on the estimated fair value of the award and recognizes the cost over the requisite service period. Forfeitures are recognized as they occur. See Note 8, “Stock Compensation Plans”, for further information on NCR’s stock-based compensation plans.

Income Taxes Income tax expense is provided based on income before income taxes. Deferred income taxes reflect the impact of temporary differences between assets and liabilities recognized for financial reporting purposes and such amounts recognized

for tax purposes. These deferred taxes are determined based on the enacted tax rates expected to apply in the periods in which the deferred assets or liabilities are expected to be settled or realized. NCR records valuation allowances related to its deferred income tax assets when it is more likely than not that some portion or all of the deferred income tax assets will not be realized.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being sustained upon examination by authorities. Interest and penalties related to uncertain tax positions are recognized as part of the provision for income taxes and are accrued beginning in the period that such interest and penalties would be applicable under relevant tax law and until such time that the related tax benefits are recognized.

Cash, Cash Equivalents, and Restricted Cash All short-term, highly liquid investments having original maturities of three months or less, including time deposits, are considered to be cash equivalents. As of December 31, 2022, the Company has restricted cash on deposit with a bank as collateral for letters of credit, funds held in escrow as well as cash included in settlement processing assets.

The reconciliation of cash, cash equivalents and restricted cash in the Consolidated Statements of Cash Flows is as follows:


In millions	Balance Sheet Location	December 31, 2022		December 31, 2021		December 31, 2020
Cash and cash equivalents	Cash and cash equivalents	$	505	$	447	$	338
Short term restricted cash	Restricted cash	8		—		—
Long term restricted cash	Other assets	7		7		9
Funds held for client	Restricted cash	—		48		44
Cash included in settlement processing assets	Restricted cash	220		247		15
Total cash, cash equivalents and restricted cash		$	740	$	749	$	406

Supplemental cash flow information Interest paid in cash was $268 million, $215 million, and $196 million for fiscal years 2022, 2021, and 2020, respectively. Income taxes paid in cash were $88 million, $84 million and $82 million for fiscal years 2022, 2021, and 2020, respectively.

Supplemental disclosures of noncash investing and financing activities During the twelve months ended December 31, 2022, we issued shares of the Company's common stock and assumed unvested outstanding option awards in the acquisition of Moon Inc., dba LibertyX, for total non-cash consideration of $68 million. In connection with the acquisition, we also assumed debt of $2 million. Refer to Note 2, “Business Combinations”, for additional information on the LibertyX acquisition.

ATM Cash Management Program Our business includes the operation of ATMs under Company-owned ATM placements, merchant-owned ATM placements, and managed services. The Company relies on arrangements with various banks to provide the cash that it uses to fill its Company-owned, and in some cases merchant-owned and managed services ATMs. The Company refers to such cash as “vault cash”. The Company pays a monthly rental fee based on the average outstanding vault cash balance, as well as fees related to the bundling and preparation of such cash prior to it being loaded in the ATMs. At all times, beneficial ownership of the cash is retained by the vault cash providers and the Company has no right or access to the cash except for the ATMs that are serviced by the Company's wholly-owned cash-in-transit operations in the United Kingdom. While the United Kingdom cash-in-transit operations have physical access to the cash loaded in the ATMs, beneficial ownership of that cash remains with the vault cash provider at all times. The Company's vault cash arrangements expire at various times through December 2027. Based on the foregoing, the ATM vault cash, and the related obligations, are not reflected in the consolidated financial statements. The average outstanding vault cash balance in the Company's ATMs for the year ended December 31, 2022 was approximately $4.1 billion.

Accounts Receivable, net Accounts receivable, net includes amounts billed and currently due from customers as well as amounts unbilled that typically result from sales under contracts where revenue recognized exceeds the amount billed to the customer and where the Company has an unconditional right to consideration. The amounts due are stated at their net estimated realizable value.

The components of accounts receivable are summarized as follows:


In millions	December 31, 2022		December 31, 2021
Accounts receivable
Trade	$	1,056	$	939
Other	61		44
Accounts receivable, gross	1,117		983
Less: allowance for credit losses	(34)		(24)
Total accounts receivable, net	$	1,083	$	959

Allowance for Credit Losses on Accounts Receivable Allowances for credit losses on accounts receivable are recognized when reasonable and supportable forecasts affect the expected collectability. This requires us to make our best estimate of the current expected losses inherent in our accounts receivable at each balance sheet date. These estimates require consideration of historical loss experience, adjusted for current conditions, forward looking indicators, trends in customer payment frequency and judgments about the probable effects of relevant observable data, including present and future economic conditions and the financial health of specific customers and market sectors. This policy is applied consistently among all of our operating segments. We continue to evaluate our reserves in light of the age and quality of our outstanding accounts receivable, risks to specific industries or countries, as well as the COVID-19 pandemic, and adjust the reserves accordingly.

Our allowance for credit losses as of December 31, 2022 and December 31, 2021 was $34 million and $24 million, respectively. For the year ended December 31, 2022, our allowance for credit losses charged to expense was $23 million. The Company recorded $13 million of write-offs against the reserve for the year ended December 31, 2022. For the year ending, December 31, 2021 our allowance for credit losses charged to expense was $2 million and the Company recorded $29 million of write-offs against the reserve.

Inventories Inventories are stated at the lower of cost or net realizable value, using the average cost method. Cost includes materials, labor and manufacturing overhead related to the purchase and production of inventories. Service parts are included in inventories and include reworkable and non-reworkable service parts. The Company regularly reviews inventory quantities on hand, future purchase commitments with suppliers and the estimated utility of inventory. If the review indicates a reduction in utility below carrying value, inventory is reduced to a new cost basis. Excess and obsolete write-offs are established based on forecasted usage, orders, technological obsolescence and inventory aging.

Contract Assets and Liabilities Contract assets include unbilled amounts where the right to payment is not solely subject to the passage of time. Amounts may not exceed their net realizable value. Contract liabilities consist of advance payments, billings in excess of revenue recognized and deferred revenue.

Our contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. If the net position is a contract asset, the current portion is included in Prepaid and other current assets and the non-current portion is included in Other assets in the Consolidated Balance Sheet. If the net position is a contract liability, the current portion is included in Contract liabilities and the non-current portion is included in Other liabilities in the Consolidated Balance Sheet. As of December 31, 2022, no contracts were in a net asset position.

The following table presents the net contract asset and contract liability balances:


In millions	Location in the Consolidated Balance Sheet	December 31, 2022		December 31, 2021

Current portion of contract liabilities	Contract liabilities	$	537	$	516
Non-current portion of contract liabilities	Other liabilities	$	49	$	69

During the twelve months ended December 31, 2022, 2021, and 2020 the Company recognized $403 million, $447 million, and $407 million, respectively, in revenue that was included in contract liabilities as of December 31, 2021, 2020, and 2019, respectively.

including renewals when the renewal commission is not commensurate with the initial commission, the expected life of the underlying technology and other factors. We classify deferred commissions as current or non-current based on the timing of when we expect to recognize the expense. The current and non-current portions of deferred commissions are included in Prepaid and other current assets and Other assets, respectively, in the Consolidated Balance Sheets. Amortization of deferred commissions is included in Selling, general and administrative expenses in the Consolidated Statements of Operations.

Set-up Fees and Costs Fees for the design, configuration, implementation and installation related to the software applications that are provided as a service are recognized over the contract term, which is generally 5 years. The related costs incurred that are determined to be incremental and recoverable contract-specific costs are deferred and amortized over the period of benefit, which is generally 7 years.

Settlement processing assets consist of settlement assets due from customers and receivables from merchants corresponding to the discount fee related to reimbursement of the interchange expense, our receivables from the processing bank or Electronic Funds Transfer (“EFT”) network for transactions that have occurred and have been funded to merchants or financial institutions in advance of receipt of card association funding, restricted cash balances that are not yet due to merchants or financial institutions, merchant reserves held, sponsoring bank reserves and exception items, such as customer chargeback amounts receivable from merchants. Settlement processing obligations consist primarily of merchant reserves, our liability to the processing bank or merchant for transactions for which we have received funding from the members or networks but have not funded merchants or financial institutions as well as certain exception items. Settlement processing assets other than restricted cash are recorded within Prepaid and other current assets and settlement processing liabilities are recorded within Settlement liabilities in the Consolidated Balance Sheet. Cash related to settlement processing is recorded within Restricted cash in the Consolidated Balance Sheet. As of December 31, 2022 and 2021, settlement processing assets were $275 million and $287 million, respectively, and settlement processing liabilities were $250 million and $263 million, respectively. Settlement receivables are generally collected within four business days. Settlement obligations are generally paid within three business days, regardless of when the related settlement receivables are collected.

Capitalized Software Certain direct development costs associated with internal-use software are capitalized within Other assets and amortized over the estimated useful lives of the resulting software. NCR typically amortizes capitalized internal-use software on a straight-line basis over four to seven years beginning when the asset is substantially ready for use, as this is considered to approximate the usage pattern of the software. When it becomes probable that internal-use software being developed will not be completed or placed into service, the internal-use software is reported at the lower of the carrying amount or fair value.

Costs incurred for the development of software that will be sold, leased or otherwise marketed are capitalized when technological feasibility has been established. These costs are included within Other assets and are amortized on a sum-of-the-years' digits or straight-line basis over the estimated useful lives ranging from three to five years, using the method that most closely approximates the sales pattern of the software. Amortization begins when the product is available for general release. Costs capitalized include direct labor and related overhead costs. Costs incurred prior to technological feasibility or after general release are expensed as incurred. NCR performs periodic reviews to ensure that unamortized program costs remain recoverable from future revenue. If future revenue does not support the unamortized program costs, the amount by which the unamortized capitalized cost of a software product exceeds the net realizable value is written off.

The following table identifies the activity relating to total capitalized software:


In millions	2022		2021		2020
Beginning balance as of January 1	$	491	$	442	$	413
Capitalization	285		242		232
Amortization	(217)		(197)		(171)
Impairment	—		(24)		(32)
Capitalized software acquired and other adjustments	(5)		28		—
Ending balance as of December 31	$	554	$	491	$	442

During the year ended December 31, 2021 and 2020, we recorded the write-off of certain internal and external-use software capitalization projects that are no longer considered strategic and as a result, the projects have been abandoned.

Goodwill and Other Intangible Assets Goodwill represents the excess of purchase price over the fair value of the net tangible and identifiable intangible assets of businesses acquired. Goodwill is tested at the reporting unit level for impairment on an annual basis during the fourth quarter or more frequently if certain events occur indicating that the carrying value of goodwill may be impaired. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include a decline in expected cash flows, a significant adverse change in legal factors or in the business climate, a decision to sell a business, unanticipated competition, or slower growth rates, among others. Consistent with the examples of such events and circumstances given in the accounting guidance, we believe that a goodwill impairment test should be performed immediately before and after a reorganization of our reporting structure when the reorganization would affect the composition of one or more of our reporting units. In this circumstance, performing the impairment test immediately before and after the reorganization would help to confirm that the reorganization is not potentially masking a goodwill impairment charge.

In the evaluation of goodwill for impairment, we have the option to perform a qualitative assessment to determine whether further impairment testing is necessary or to perform a quantitative assessment by comparing the fair value of a reporting unit to its carrying amount, including goodwill. Under the qualitative assessment, an entity is not required to calculate the fair value of a reporting unit unless the entity determines that it is more likely than not that its fair value is less than its carrying amount. If, under the quantitative assessment, the fair value of a reporting unit is less than its carrying amount, then the amount of the impairment loss, if any, is determined based on the amount by which the carrying amount exceeds the fair value up to the total value of goodwill assigned to the reporting unit. Fair values of the reporting units are estimated using a weighted methodology considering the output from both the income and market approaches. The income approach incorporates the use of discounted cash flow (“DCF”) analysis. A number of significant assumptions and estimates are involved in the application of the DCF model to forecast operating cash flows, including revenue growth rates, EBITDA margins and discount rates. Several of these assumptions vary among reporting units. The cash flow forecasts are generally based on approved strategic operating plans. The market approach is performed using the Guideline Public Companies (“GPC”) method which is based on earnings multiple data. We perform a reconciliation between our market capitalization and our estimate of the aggregate fair value of the reporting units, including consideration of a control premium. Refer to Note 3, “Goodwill and Purchased Intangible Assets”, for further discussion.

Acquired intangible assets other than goodwill are amortized over their weighted average amortization period unless they are determined to be indefinite. Acquired intangible assets are carried at cost, less accumulated amortization. For intangible assets purchased in a business combination, the estimated fair values of the assets received are used to establish the carrying value. The fair value of acquired intangible assets is determined using common techniques, and the Company employs assumptions developed using the perspective of a market participant.

Also reported in property and equipment are ATMs and the associated equipment the Company has acquired for future installation or has temporarily removed from service and plans to re-deploy. Significant refurbishment costs that extend the useful life of an asset, or enhance its functionality, are capitalized and depreciated over the estimated remaining life of the improved asset. Maintenance costs are expensed as incurred.

Valuation of Long-Lived Assets Long-lived assets such as property, plant and equipment and finite-lived intangible assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable or in the period in which the held for sale criteria are met. For assets held and used, this analysis consists of comparing the asset’s carrying value to the expected future cash flows to be generated from the asset on an undiscounted basis. If the carrying amount of the asset is determined not to be recoverable, a write-down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as applicable. Long-lived assets are reviewed for impairment at the individual asset or the asset group level for which the lowest level of independent cash flows can be identified. Refer to Note 3, “Goodwill and Purchased Intangible Assets”, for further discussion.

Leasing The Company determines whether an arrangement is a lease at the inception of the arrangement based on the terms and conditions in the contract. A contract contains a lease if there is an identified asset and the Company has the right to control the asset.

Lessee We lease property, vehicles and equipment under operating and financing leases. For leases with terms greater than 12 months, we record the related asset and obligation at the present value of lease payments over the term. We determine the lease term by assuming the exercise of renewal options that are reasonably certain. Leases with a lease term of 12 months or less at inception are not recorded on our Consolidated Balance Sheet and are expensed on a straight-line basis over the lease term in our Consolidated Statement of Operations. Our leases may include rental escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when appropriate. When available, we use the rate implicit in the lease to discount lease payments to present value; however, most of our leases do not provide a readily determinable implicit rate. Therefore, we must estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement. Our incremental borrowing rate is based on a credit-adjusted risk-free rate at commencement date, which best approximates a secured rate over a similar term of lease. Additionally, we do not separate lease and non-lease components for any asset classes, except for those leases embedded in certain service arrangements. Fixed and in-substance fixed payments are included in the recognition of the operating and financing assets and lease liabilities, however, variable lease payments, other than those based on a rate or index, are recognized in the Consolidated Statements of Operations in the period in which the obligation for those payments is incurred. The Company’s variable lease payments generally relate to payments tied to various indices, non-lease components and payments above a contractual minimum fixed payment.

Lessor We have various arrangements for certain point-of-sale equipment under which we are the lessor. These leases meet the criteria for operating lease classification. Lease income associated with these leases is not material.

Pension, Postretirement and Postemployment Benefits NCR has significant pension, postretirement and postemployment benefit costs, which are developed from actuarial valuations. Actuarial assumptions are established to anticipate future events and are used in calculating the expense and liabilities relating to these plans. These factors include assumptions the Company makes about interest rates, expected investment return on plan assets, rate of increase in healthcare costs, involuntary turnover rates, and rates of future compensation increases. In addition, NCR also uses subjective factors, such as withdrawal rates and mortality rates to develop the Company’s valuations. NCR generally reviews and updates these assumptions on an annual basis. NCR is required to consider current market conditions, including changes in interest rates, in making these assumptions. The actuarial assumptions that NCR uses may differ materially from actual results due to changing market and economic conditions, higher or lower withdrawal rates, or longer or shorter life spans of participants. These differences may result in a significant impact to the amount of pension, postretirement or postemployment benefits expense, and the related assets and liabilities, the Company has recorded or may record.

accounting standards, taxation requirements, and federal securities laws, among others, may create a substantial burden on, and substantially increase the costs to NCR or could have an impact on NCR’s future operating results. NCR believes that the amounts provided in its Consolidated Financial Statements are adequate in light of the probable and estimable liabilities. However, there can be no assurances that the actual amounts required to satisfy alleged liabilities from various lawsuits, claims, legal proceedings and other matters, including the Fox River and Kalamazoo River environmental matters discussed in Note 10, “Commitments and Contingencies”, and to comply with applicable laws and regulations, will not exceed the amounts reflected in NCR’s Consolidated Financial Statements or will not have a material adverse effect on the Company’s consolidated results of operations, financial condition or cash flows. Any costs that may be incurred in excess of those amounts provided as of December 31, 2022 cannot currently be reasonably determined or are not currently considered probable. The costs and insurance recoveries relating to certain environmental obligations associated with discontinued operations, including those relating to the Fox River, Kalamazoo River and Ebina matters, are presented in Income (loss) from discontinued operations, net of tax, in the Consolidated Statements of Operations.

Legal fees and expenses related to loss contingencies are typically expensed as incurred, except for certain costs associated with NCR’s environmental remediation obligations. Costs and fees associated with litigating the extent and type of required remedial actions and the allocation of remediation costs among potentially responsible parties are typically included in the measurement of the environmental remediation liabilities.

Foreign Currency For many NCR international operations, the local currency is designated as the functional currency. Accordingly, assets and liabilities are translated into U.S. Dollars at year-end exchange rates, and revenue and expenses are translated at average exchange rates prevailing during the year. Currency translation adjustments from local functional currency countries resulting from fluctuations in exchange rates are recorded in Other comprehensive income. Remeasurement adjustments are recorded in Other income (expense), net.

Derivative Instruments In the normal course of business, NCR enters into various financial instruments, including derivative financial instruments. The Company accounts for derivatives as either assets or liabilities in the Consolidated Balance Sheets at fair value and recognizes the resulting gains or losses as adjustments to earnings or other comprehensive income. For derivative instruments that are designated and qualify as hedging instruments, the Company formally documents the relationship between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. Hedging activities are transacted only with highly rated institutions, reducing exposure to credit risk in the event of nonperformance. Additionally, the Company completes assessments related to the risk of counterparty nonperformance on a regular basis.

The accounting for changes in fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship, and further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the Company has designated the hedging instrument, based on the exposure being hedged, as a fair value hedge, a cash flow hedge or a hedge of a net investment in a foreign operation. For derivative instruments designated as fair value hedges, the effective portion of the hedge is recorded as an offset to the change in the fair value of the hedged item, and the ineffective portion of the hedge, if any, is recorded in the Consolidated Statement of Operations. For derivative instruments designated as cash flow hedges and determined to be highly effective, the gains or losses are deferred in Accumulated other comprehensive loss and recognized in the determination of income as adjustments of carrying amounts when the underlying hedged transaction is realized, canceled or otherwise terminated. When hedging certain foreign currency transactions of a long-term investment nature (net investments in foreign operations), gains and losses are recorded in the currency translation adjustment component of Accumulated other comprehensive loss. Gains and losses on foreign exchange contracts that are not used to hedge currency transactions of a long-term investment nature, or that are not designated as cash flow or fair value hedges, are recognized in Other income (expense), net as exchange rates change.

Fair Value of Assets and Liabilities Fair value is defined as an exit price, representing an amount that would be received to sell an asset or the amount paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance prioritizes the inputs used to measure fair value into the following three-tier fair value hierarchy:

•Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities

•Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs, other than quoted prices in active markets, that are observable either directly or indirectly

•Level 3: Unobservable inputs for which there is little or no market data

Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. The Company reviews the fair value hierarchy classification on a quarterly basis. Changes to the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy.

NCR measures its financial assets and financial liabilities at fair value based on one or more of the following three valuation techniques:

•Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

•Cost approach: Amount that would be required to replace the service capacity of an asset (replacement cost).

•Income approach: Techniques to convert future amounts to a single present amount based upon market expectations (including present value techniques, option pricing and excess earnings models).

We regularly review our investments to determine whether a decline in fair value, if any, below the cost basis is other than temporary. If the decline in the fair value is determined to be other than temporary, the cost basis of the security is written down to fair value and the amount of the write-down is included in the Consolidated Statement of Operations. For qualifying investments in debt or equity securities, a temporary impairment charge would be recognized in Other comprehensive income (loss).

Recent Accounting Pronouncements

Adoption of New Accounting Pronouncements

In March 2020, the Financial Accounting Standards Board (“FASB”) issued accounting standards update (“ASU”) 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The optional guidance is provided to ease the financial reporting burden of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. The standard was effective upon issuance and had an original sunset date of December 31, 2022 to any new or amended contracts, hedging relationships and other transactions that reference LIBOR. In December 2022, ASC 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, was issued which deferred the sunset date to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The adoption of this accounting standards update did not have a material effect on the Company's net income, cash flows, earnings per share or financial condition. We continue to evaluate our contractual arrangements and hedging relationships that reference LIBOR.

In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, with new guidance for convertible preferred stock, which eliminates considerations related to the beneficial conversion feature model. The standard also requires entities to use an average stock price when calculating the denominator for diluted earnings per share for stock units where the settlement of the number of shares is based on the stock price. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption was permitted no earlier than fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. The adoption of this accounting standards update did not have a material effect on the Company's net income, cash flows, earnings per share or financial condition.

In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options, with new guidance for freestanding equity-classified written call options. The new guidance requires issuers to account for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after the modification or exchange based on the economic substance of the modification or exchange. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021, with

early adoption permitted. The adoption of this accounting standards update did not have a material effect on the Company's net income, cash flows, earnings per share or financial condition.

In July 2021, the FASB issued ASU 2021-05, Leases (Topic 842), Lessors-Certain Leases with Variable Lease Payments, with new guidance for lessors with lease contracts that have variable lease payments. Under the new guidance, a lease which includes variable lease payments which do not depend on a reference index or rate and would have resulted in the recognition of a selling loss at lease commencement if classified as sales-type or direct financing are now to be classified as operating. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted. The accounting standards update was adopted using the transition guidance of early application and we will apply the standard prospectively to all new hardware arrangements where NCR is the lessor. The adoption of the accounting standard did not have a material effect on the Company's net income, cash flows, earnings per share or financial condition.

In March 2022, the SEC staff released Staff Accounting Bulletin No. 121 (“SAB 121”), which expressed the views of the SEC staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for users of its crypto platform. This guidance requires entities that hold crypto-assets on behalf of platform users to recognize a liability to reflect the entity’s obligation to safeguard the crypto-assets held for its platform users. The liability should be measured at initial recognition and each reporting date at the fair value of the crypto-assets that the entity is responsible for holding for its platform users. The entity should also recognize an asset at the same time that it recognizes the safeguarding liability, measured at initial recognition and each reporting date at the fair value of the crypto-assets held for its platform users. SAB 121 also includes guidance on disclosures related to the Company’s safeguarding of crypto-assets. This guidance is effective from the first interim or annual period after June 15, 2022 and should be applied retrospectively to the beginning of the fiscal year to which the interim or annual period relates. The Company adopted this guidance in the interim period ending June 30, 2022; however, as the Company is not currently offering digital asset safeguarding services to its customers, the adoption of this guidance did not have an impact on the Company’s net income, cash flows, earnings per share or financial condition.

Although there are several other new accounting pronouncements issued by the FASB and adopted by or effective for the Company, the Company does not believe any of these accounting pronouncements had a material impact on its consolidated financial statements.

Accounting Pronouncements Issued But Not Yet Adopted

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, with new guidance for contract assets and contract liabilities acquired in a business combination. The new guidance requires contract assets and contract liabilities, such as deferred revenue, acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standard Codification (“ASC”) 606, Revenue from Contracts with Customers. Prior to the issuance of this guidance, contract assets and contract liabilities were recognized by the acquirer at fair value on the acquisition date. The accounting standards update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted and should be applied prospectively to acquisitions occurring on or after the effective date. The Company does not expect to early adopt the new accounting standards update. The adoption of this accounting standards update is not expected to have a material effect on the Company's net income, cash flows, earnings per share or financial condition.

Although there are several other new accounting pronouncements issued by the FASB and not yet adopted by or effective for the Company, the Company does not believe any of these accounting pronouncements will have a material impact on its consolidated financial statements.

BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

BUSINESS COMBINATIONS

2. BUSINESS COMBINATIONS

Acquisition of LibertyX (2022)

On January 5, 2022, NCR completed its acquisition of Moon Inc., dba LibertyX, a leading cryptocurrency software provider, with the goal of enabling NCR to provide a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance, and accept digital currency payments across digital and physical channels. The Company purchased all outstanding shares of LibertyX for $1 million cash consideration and approximately 1.4 million shares of the Company's common stock at a price of $42.13 per share. The Company also converted approximately 0.2 million outstanding unvested LibertyX option awards into NCR awards pursuant to an exchange ratio as defined in the acquisition agreement. LibertyX stock option awards were converted into NCR stock option awards with an exercise price per share for option awards equal to the exercise price per share of such stock option award immediately prior to the completion of the acquisition divided by the exchange ratio, and vested immediately. The value of the option awards was deemed attributable to services already rendered and was included as a portion of the purchase price. Total purchase consideration for the LibertyX acquisition was approximately $69 million. As a result of the acquisition, LibertyX became a wholly-owned subsidiary of NCR.

Recording of Assets Acquired and Liabilities Assumed The fair value of consideration transferred was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values as of the date of the acquisition as set forth below. The amounts for intangible assets are based on third-party valuations performed. The final allocation of the purchase price is as follows:


In millions	Fair Value
Cash acquired	$	2
Tangible assets acquired	3
Acquired intangible assets other than goodwill	38
Acquired goodwill	40
Deferred tax liabilities	(10)
Liabilities assumed	(4)
Total purchase consideration	$	69

The following table sets forth the components of the intangible assets acquired as of the acquisition date:


	Fair Value		Weighted Average Amortization Period (1)
	(In millions)		(In years)
Direct customer relationships	$	5	10
Technology - Software	30		13
Non-compete	1		1
Tradenames	2		2
Total acquired intangible assets	$	38

(1) Determination of the weighted average period of the individual categories of intangible assets was based on the nature of applicable intangible asset and the expected future cash flows to be derived from the intangible asset. Amortization of intangible assets with definite lives is recognized over the period of time the assets are expected to contribute to future cash flows.

The operating results of LibertyX have been included within NCR's results since the closing date of the acquisition. Supplemental pro forma information and actual revenue and earnings since the acquisition date have not been provided as the acquisition did not have a material impact on the Company's Consolidated Statements of Operations.

Other Acquisitions (2022)

On July 1, 2022, NCR completed its acquisition of the India ATM business of FIS Payment Solutions & Services Private Limited for consideration of $19 million, of which $12 million has been paid in cash as of December 31, 2022. The India ATM business acquisition did not have a material impact on the consolidated financial statements.

2021 Acquisitions

Acquisition of Cardtronics plc

On January 25, 2021, NCR entered into a definitive agreement to acquire all outstanding shares of Cardtronics for $39.00 per share (the “Cardtronics Transaction”). The legal closing of the Cardtronics Transaction occurred on June 21, 2021.

Cardtronics was the world's largest non-bank ATM operator and service provider, enabling cash transactions by converting digital currency into physical cash at over 285,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. The Cardtronics Transaction is expected to accelerate our NCR-as-a-service strategy and enhance our ability to provide technology solutions and capabilities that run our customers’ businesses.

Purchase Price Consideration The purchase consideration transferred consisted of the following:


In millions	Purchase Consideration
Cash paid to common stockholders and holders of certain restricted stock and stock option awards	$	1,775
Debt repaid by NCR on behalf of Cardtronics	809
Transaction costs paid by NCR on behalf of Cardtronics	57
Fair value of converted Cardtronics awards attributable to pre-combination services	19
Settlement of pre-existing relationships	14
Total purchase consideration	$	2,674

Other than certain outstanding restricted stock and stock option awards issued to directors which were paid out in cash at closing, the Company converted outstanding unvested Cardtronics awards into NCR awards pursuant to an exchange ratio as defined in the acquisition agreement. Each restricted stock award that was outstanding, whether performance-based or time-based, was converted into time-based awards, and will continue to be governed by the same vesting terms as the original Cardtronics awards. Cardtronics stock option awards were converted into NCR stock option awards with an exercise price per share for option awards equal to the exercise price per share of such stock option award immediately prior to the completion of the acquisition divided by the exchange ratio, and will continue to be governed generally by the same terms and conditions as were applicable prior to the acquisition. The amounts attributable to services already rendered were included as an adjustment to the purchase price and the amounts attributable to future services will be expensed over the remaining vesting period, net of estimated forfeitures. The fair value of options that the Company assumed in connection with the acquisition of Cardtronics were estimated using the Black-Scholes model.

Recording of Assets Acquired and Liabilities Assumed The fair value of consideration transferred to acquire Cardtronics was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values as of the date of the acquisition as set forth below. The allocation of the purchase price was finalized in June 2022.

The final allocation of the purchase price for Cardtronics is as follows:


In millions	Fair Value
Assets acquired
Cash and restricted cash	$	291
Trade accounts receivable	85
Prepaid expenses, other current assets and other assets	193
Property, plant and equipment	362
Acquisition-related intangible assets	864
Total assets acquired	$	1,795

Liabilities assumed	733
Net assets acquired, excluding goodwill	1,062
Total purchase consideration	2,674
Estimated goodwill	$	1,612

We recorded an allocation of the purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values as of June 21, 2021. In determining the fair value, the Company utilized various methods of the income, cost, and market approaches depending on the asset or liability being fair valued. The estimation of fair value required significant judgment related to future net cash flows (including revenue growth rate, EBITDA margins, and customer attrition), discount rates reflecting the risk inherent in each cash flow stream, competitive trends, market comparables, and other factors. Inputs were generally determined by taking into account historical data (supplemented by current and anticipated market conditions) and growth rates.

Direct customer relationships and technology - software were valued using an excess earnings method. Significant assumptions used in the discounted cash flow analysis for (i) direct customer relationships were the revenue growth rate, customer attrition rate, and discount rate, and (ii) technology - software were the revenue growth rate, earnings before interest, taxes, depreciation, and amortization (“EBITDA”) margins, and discount rate.

Goodwill represents the future economic benefits arising from other assets acquired that could not be separately recognized. The goodwill arising from the acquisition consists of revenue and cost synergies expected from combining the operations of NCR and Cardtronics. It is expected that approximately $139 million of the goodwill recognized in connection with the acquisition will be deductible for tax purposes. The goodwill arising from the acquisition has been allocated to our Payments & Network and Self-Service Banking segments. Refer to Note 3, “Goodwill and Purchased Intangible Assets”, for the carrying amounts of goodwill by segment as of December 31, 2022.

The following table sets forth the components of the intangible assets acquired as of the acquisition date:


	Fair Value		Weighted Average Amortization Period (1)
	(In millions)		(In years)
Direct customer relationships	$	373	15
Technology - Software	441		8
Non-compete	1		1
Tradenames	49		4
Total acquired intangible assets	$	864

(1) Determination of the weighted average period of the individual categories of intangible assets was based on the nature of the applicable intangible asset and the expected future cash flows to be derived from the intangible asset. Amortization of intangible assets with definite lives is recognized over the period of time the assets are expected to contribute to future cash flows.

In connection with the closing of the acquisition, the Company incurred transaction costs of $46 million for the year ended December 31, 2021, which has been included within Selling, general and administrative expenses in the Consolidated

Statement of Operations. Refer to Note 5, “Debt Obligations”, for additional discussion on fees incurred related to the financing for the Cardtronics Transaction.

Unaudited Pro forma Information The following unaudited pro forma information presents the consolidated results of NCR and Cardtronics for the year ended December 31, 2021 and for the year ended December 31, 2020 as if the acquisition occurred on January 1, 2020. The unaudited pro forma information is presented for illustrative purposes only. It is not necessarily indicative of the results of operations of future periods, or the results of operations that actually would have been realized had the entities been a single company during the periods presented or the results that the combined company will experience after the acquisition. The unaudited pro forma information does not give effect to the potential impact of current financial conditions, regulatory matters or any anticipated synergies, operating efficiencies or cost savings that may be associated with the acquisition. The unaudited pro forma information also does not include any integration costs or remaining future transaction costs that the companies may incur related to the acquisition as part of combining the operations of the companies.

The Consolidated Statements of Operations includes Cardtronics revenue of $627 million and income from continuing operations before income taxes of $39 million, which includes the impact of purchase accounting adjustments, for the period from June 21, 2021 through December 31, 2021.

The unaudited pro forma consolidated results of operations, assuming the acquisition had occurred on January 1, 2020, are as follows:


In millions	For the year ended December 31
	2021		2020
Revenue	$	7,634	$	7,210
Net income (loss) attributable to NCR	$	286	$	(216)

The unaudited pro forma results for the year ended December 31, 2021 include:

•$53 million in eliminated intercompany revenue and cost between NCR and Cardtronics;

•$25 million, net of tax, in additional amortization expense for acquired intangible assets;

•$87 million, net of tax, in eliminated transaction costs as if those costs were incurred prior to 2021; and

•$35 million, net of tax, in additional interest expense from the incremental borrowings under the senior secured credit facility as well as the 5.125% senior notes.

The unaudited pro forma results for the year ended December 31, 2020 include:

•$91 million in eliminated intercompany revenue and cost between NCR and Cardtronics;

•$51 million, net of tax, in additional amortization expense for acquired intangible assets;

•$65 million, net of tax, of transaction costs as if those costs were incurred in the period; and

•$79 million, net of tax, in additional interest expense from the incremental borrowings under the senior secured credit facility as well as the 5.125% senior notes.

Acquisition of Freshop, Terafina, & Dumac

In the first quarter of 2021, NCR completed acquisitions for total cash consideration of $126 million, as outlined below:

•On January 6, 2021, NCR completed its acquisition of Freshop E-Commerce Solution, Inc. (“Freshop”), a leading provider of grocery e-commerce. The Freshop acquisition further expands NCR’s software and services-led offerings to our retail platform and creates more value for our customers and new capabilities for NCR to run the store. As a result of the acquisition, Freshop became a wholly owned subsidiary of NCR.

•On February 5, 2021, NCR completed its acquisition of Terafina, Inc. (“Terafina”), a leading solution provider for customer account opening and onboarding across digital, branch and call center channels. The Terafina acquisition further expands NCR sales and marketing capabilities in its industry-leading digital-first-banking platform to drive revenue growth across consumer and business market segments. As a result of the acquisition, Terafina became a wholly owned subsidiary of NCR.

•On March 22, 2021 NCR completed its acquisition of certain assets and liabilities of Dumac Business Systems Inc. (“Dumac”), a leading POS solution provider for the quick service, table service, and convenient store markets. The Dumac asset acquisition further expands NCR's software and services-led offerings, creating more value for our customers and driving revenue growth across the Hospitality segment.

Recording of Assets Acquired and Liabilities Assumed The fair value of consideration transferred was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values as of the date of the respective acquisitions as set forth below. The allocation of the purchase prices is as follows:


In millions	Fair Value
Cash acquired	$	2
Tangible assets acquired	7
Acquired intangible assets other than goodwill	52
Acquired goodwill	81
Deferred tax liabilities	(3)
Liabilities assumed	(13)
Total purchase consideration	$	126

Goodwill represents the future economic benefits arising from other assets acquired that could not be individually separately recognized. The goodwill arising from the acquisitions consists of revenue and cost synergies expected from combining the operations of NCR and the respective acquisitions. It is expected that $9 million of the goodwill recognized in connection with the acquisitions will be deductible for tax purposes. The goodwill arising from the Freshop acquisition has been allocated to our Retail segment. The goodwill arising from the Terafina acquisition has been allocated to our Digital Banking segment. The goodwill arising from the Dumac acquisition has been allocated to our Hospitality segment. Refer to Note 3, “Goodwill and Purchased Intangible Assets”, for the carrying amounts of goodwill by segment.

The following table sets forth the components of the intangible assets acquired as of the acquisition dates:


	Fair Value		Weighted Average Amortization Period (1)
	(In millions)		(In years)
Direct customer relationships	$	11	10
Technology - Software	36		8
Non-compete	1		1
Tradenames	4		9
Total acquired intangible assets	$	52

The operating results of Freshop, Terafina, and Dumac have been included within NCR's results as of the closing dates of the respective acquisitions. Supplemental pro forma information and actual revenue and earnings since the acquisition dates have not been provided as the acquisitions did not have a material impact on the Company's Consolidated Statements of Operations.

GOODWILL AND PURCHASED INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND PURCHASED INTANGIBLE ASSETS

3. GOODWILL AND PURCHASED INTANGIBLE ASSETS

Goodwill by Segment As described in Note 1, “Basis of Presentation and Significant Accounting Policies”, effective January 1, 2022, the Company realigned its reportable segments to correspond with changes to its operating model, management structure and organizational responsibilities. In connection with the change in reportable segments, during the first quarter of 2022, the Company determined its reporting units and then assigned goodwill to the new reporting units based on the relative fair value allocation approach. We have reclassified prior period goodwill disclosures to conform to the current period presentation.

The carrying amounts of goodwill by segment as of December 31, 2022, 2021, and 2020 are included in the tables below. Foreign currency fluctuations are included within other adjustments.


	December 31, 2021												December 31, 2022
In millions	Goodwill		Accumulated Impairment		Total		Additions		Impairment		Other		Goodwill		Accumulated Impairment		Total
Retail	$	1,015	$	(34)	$	981	$	—	$	—	$	(20)	$	995	$	(34)	$	961
Hospitality	292		(23)		269		—		—		(4)		288		(23)		265
Digital Banking	595		—		595		—		—		(1)		594		—		594
Payments & Network	988		—		988		49		—		(1)		1,036		—		1,036
Self-Service Banking	1,635		(101)		1,534		—		—		(2)		1,633		(101)		1,532
Other(1)	163		(11)		152		—		—		—		163		(11)		152
Total goodwill	$	4,688	$	(169)	$	4,519	$	49	$	—	$	(28)	$	4,709	$	(169)	$	4,540


	December 31, 2020												December 31, 2021
In millions	Goodwill		Accumulated Impairment		Total		Additions		Impairment		Other		Goodwill		Accumulated Impairment		Total
Retail	$	980	$	(34)	$	946	$	37	$	—	$	(2)	$	1,015	$	(34)	$	981
Hospitality	284		(23)		261		11		—		(3)		292		(23)		269
Digital Banking	560		—		560		35		—		—		595		—		595
Payments & Network	360		—		360		628		—		—		988		—		988
Self-Service Banking	659		(101)		558		976		—		—		1,635		(101)		1,534
Other(1)	163		(11)		152		—		—		—		163		(11)		152
Total goodwill	$	3,006	$	(169)	$	2,837	$	1,687	$	—	$	(5)	$	4,688	$	(169)	$	4,519

(1) Other segment includes the goodwill associated with our Technology & Telecommunications reporting unit.

Additions during the year ended December 31, 2022 include immaterial purchase accounting adjustments related to the Cardtronics acquisition as well as the goodwill acquired through the LibertyX transaction on January 5, 2022. For additional information on these business combinations, refer to Note 2, “Business Combinations”. Also during the year ended December 31, 2022, the Company divested a non-strategic business and derecognized $12 million of associated goodwill, reflected within other adjustments in the Retail and Hospitality segments.

Due to the change in reportable segments, management performed an interim goodwill impairment analysis immediately before and as of the effective date of January 1, 2022. The assessment as of December 31, 2021 was performed based on a qualitative assessment of the historical Banking, Retail, Hospitality and Telecommunications & Technology (“T&T”) reporting units. No impairment was identified. The assessment as of January 1, 2022 was performed using a weighted combination of both guideline public company and discounted cash flow valuation methods. This assessment included, but was not limited to, our consideration of the potential impacts of the COVID-19 pandemic to the current and future cash flows, as well as macroeconomic conditions, industry and market considerations, and financial performance, including forecasted revenue, earnings and capital expenditures of each reporting unit. Based on this analysis, it was determined that the fair value of all reporting units were substantially in excess of the carrying value.

As discussed in Note 1, “Basis of Presentation and Significant Accounting Policies”, management completed the annual goodwill impairment test during the fourth quarter of 2022. The Company elected to perform a qualitative assessment for all reporting units. This assessment included, but was not limited to, our consideration of macroeconomic conditions such as the impact of the COVID-19 pandemic, the war in Eastern Europe, foreign currency fluctuations, and significant cost inflation to the current year cash flows, the potential impacts to future cash flows as well as the excess of the fair value over the carrying value from the assessment performed as of January 1, 2022. Based on the qualitative assessments completed, it was determined that it was more likely than not that the fair value of each reporting unit was in excess of the carrying value. However, if the actual results differ from our expectations for any of our reporting units, there is a possibility we would have to perform an interim impairment test in 2023, which could lead to an impairment of goodwill or other assets.

Identifiable Intangible Assets NCR's purchased intangible assets, reported in Intangibles, net in the Consolidated Balance Sheets, were specifically identified when acquired, and are deemed to have finite lives. The gross carrying amount and accumulated amortization for NCR’s identifiable intangible assets were as set forth in the table below.


	Amortization Period (in Years)	December 31, 2022				December 31, 2021
In millions		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Identifiable intangible assets
Reseller & customer relationships	1 - 20	$	1,103	$	(463)	$	1,126	$	(391)
Intellectual property	2 - 8	1,030		(558)		1,008		(474)
Customer contracts	8	89		(89)		89		(89)
Tradenames	1 - 10	128		(95)		130		(83)
Total identifiable intangible assets		$	2,350	$	(1,205)	$	2,353	$	(1,037)

Amortization expense related to identifiable intangible assets was $172 million, $132 million, and $81 million for the years ended December 31, 2022, 2021, 2020, respectively.

The aggregate amortization expense (actual and estimated) for identifiable intangible assets for the following periods is:


		For the years ended December 31 (estimated)
In millions	2023			2024			2025			2026			2027
Amortization expense		$	174		$	163		$	151		$	141		$	125

SEGMENT INFORMATION AND CONCENTRATION

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION AND CONCENTRATION

4. SEGMENT INFORMATION AND CONCENTRATIONS

As described in Note 1, “Basis of Presentation and Significant Accounting Policies”, effective January 1, 2022, the Company realigned its reportable segments to correspond with changes to its operating model, management structure and organizational responsibilities. We have reclassified prior period segment disclosures to conform to the current period presentation. As a result of the change, the Company manages and reports the following segments:

•Retail - We offer software-led solutions to customers in the retail industry, leading with digital to connect retail operations end to end to integrate all aspects of a customer’s operations in indoor and outdoor settings from POS, to payments, inventory management, fraud and loss prevention applications, loyalty and consumer engagement. These solutions include retail-oriented technologies such as comprehensive API-point of sale retail software platforms and applications, hardware terminals, self-service kiosks including self-checkout ("SCO"), payment processing and merchant acquiring solutions, and bar-code scanners.

•Hospitality - We offer technology solutions to customers in the hospitality industry, including table-service, quick-service and fast casual restaurants of all sizes, that are designed to improve operational efficiency, increase customer satisfaction, streamline order and transaction processing and reduce operating costs. Our solutions include POS hardware and software solutions, payment processing and merchant acquiring services, installation, maintenance, as well as managed and professional services.

•Digital Banking - NCR Digital Banking helps financial institutions implement their digital-first platform strategy by providing solutions for account opening, account management, transaction processing, imaging, and branch services to enable financial institutions to offer a compelling customer experience.

•Payments & Network - We provide a cost-effective way for financial institutions, fintechs, and neobanks to reach and serve their customers through our network of automated teller machines ("ATMs") and multi-functioning financial services kiosks. We offer credit unions, banks, digital banks, fintechs, stored-value debit card issuers, and other consumer financial services providers access to our Allpoint retail-based ATM network, providing convenient and fee-free cash withdrawal and deposit access to their customers and cardholders as well as the ability to convert a digital value to cash, or vice versa, via NCRPay360. We also provide ATM branding solutions to financial institutions, ATM management and services to retailers and other businesses, as well as payment processing and merchant acquiring services in the retail, hospitality and other industries.

•Self-Service Banking - We offer solutions to enable customers in the financial services industry to reduce costs, generate new revenue streams and enhance customer loyalty. These solutions include a comprehensive line of ATM hardware and software, and related installation, maintenance, and managed and professional services. We also offer solutions to manage and run the ATM channel end-to-end for financial institutions that includes back office, cash management, software management and ATM deployment, among others.

Corporate and Other includes income and expenses related to corporate functions that are not specifically attributable to an individual reportable segment along with any immaterial operating segment(s).

Eliminations include revenues from contracts with customers and the related costs that are reported in the Payments & Network segment as well as in the Retail or Hospitality segments, including merchant acquiring services that are monetized via payments.

These segments represent components of the Company for which separate financial information is available that is utilized on a regular basis by the chief operating decision maker in assessing segment performance and in allocating the Company's resources. Management evaluates the performance of the segments based on revenue and Adjusted EBITDA. Adjusted EBITDA is defined as GAAP net income (loss) from continuing operations attributable to NCR plus interest expense, net; plus income tax expense (benefit); plus depreciation and amortization; plus stock-based compensation expense; plus other income (expense); plus pension mark-to-market adjustments, pension settlements, pension curtailments and pension special termination benefits and other special items, including amortization of acquisition-related intangibles, transformation and restructuring charges (which includes integration, severance and other exit and disposal costs), among others. The special items are considered non-operational so are excluded from the Adjusted EBITDA metric utilized by our chief operating decision maker in evaluating segment performance and are separately delineated to reconcile back to total reported GAAP net income (loss) from continuing operations attributable to NCR.

Special Item Related to Russia The war in Eastern Europe and related sanctions imposed on Russia and related actors by the United States and other jurisdictions required us to commence the orderly wind down of our operations in Russia beginning in the first quarter of 2022. As of December 31, 2022, we have ceased operations in Russia and are in the process of dissolving our only subsidiary in Russia. As a result, for the year ending December 31, 2022, our presentation of segment revenue and Adjusted EBITDA exclude the immaterial impact of our operating results in Russia, as well as the impact of impairments taken to write down the carrying value of assets and liabilities, severance charges, and the assessment of collectability on revenue recognition. We consider this to be a non-recurring special item and management has reviewed the results of its business segments excluding these impacts. We have not adjusted the presentation of the prior year period due to the immaterial impact of Russia to revenue and income from continuing operations for the years ended December 31, 2021 and 2020.

Assets are not allocated to segments, and thus are not included in the assessment of segment performance. Consequently, we do not disclose total assets by reportable segment. The accounting policies used to determine the results of the operating segments are the same as those utilized for the consolidated financial statements as a whole. Intersegment sales and transfers are not material.

The following table presents revenue and operating income by segment for the years ended December 31:


In millions	2022		2021		2020
Revenue by segment
Retail	$	2,258	$	2,231	$	2,030
Hospitality	926		849		686
Digital Banking	543		513		472
Payments & Network	1,286		675		85
Self-Service Banking	2,621		2,617		2,602
Corporate and Other	244		297		346
Eliminations (1)	(43)		(26)		(14)
Total Segment revenue	$	7,835	$	7,156	$	6,207
Other adjustment (2)	9		—		—
Total Revenue	$	7,844	$	7,156	$	6,207

Adjusted EBITDA by segment
Retail	$	415	$	442	$	390
Hospitality	192		158		115
Digital Banking	226		213		226
Payments & Network	405		238		15
Self-Service Banking	565		580		523
Corporate and Other	(399)		(369)		(366)
Eliminations (1)	(34)		(18)		(7)
Total Adjusted EBITDA	$	1,370	$	1,244	$	896

(1) Eliminations include revenues from contracts with customers and the related costs that are reported in the Payments & Network segment as well as in the Retail or Hospitality segments, including merchant acquiring services that are monetized via payments.

(2) Other adjustment reflects the revenue attributable to the Company's operations in Russia that were excluded from management's measure of revenue due to our announcement to suspend sales to Russia and anticipated orderly wind down of our operations in Russia. The revenue attributable to the Russian operations for the years ended December 31, 2021 and 2020 of $48 million and $41 million, respectively, is included in the respective segments.

The operations of Cardtronics have been included in the Payments & Network and Self-Service Banking segment results from the acquisition close date, June 21, 2021.

The following table reconciles net income (loss) from continuing operations to Adjusted EBITDA for the years ended December 31:


In millions	2022		2021		2020
Net income (loss) from continuing operations attributable to NCR (GAAP)	$	64	$	97	$	(7)
Pension mark-to-market adjustments	8		(118)		34
Transformation and restructuring costs	123		66		234
Acquisition-related amortization of intangibles	172		132		81
Acquisition-related (gains) costs	10		98		(6)
Separation costs	3		—		—


Loss on debt extinguishment	—		42		20
Interest expense	285		238		218
Interest income	(13)		(8)		(8)
Depreciation and amortization	423		357		275
Income taxes	148		186		(53)
Stock-based compensation expense	125		154		108
Russia	22		—		—
Adjusted EBITDA (non-GAAP)	$	1,370	$	1,244	$	896

The following table presents recurring revenue and all other products and services that is recognized at a point in time for NCR for the years ended December 31:


In millions	2022		2021		2020
Recurring revenue (1)	$	4,841	$	4,166	$	3,338
All other products and services	3,003		2,990		2,869
Total revenue	$	7,844	$	7,156	$	6,207

(1) Recurring revenue includes all revenue streams from contracts where there is a predictable revenue pattern that will occur at regular intervals with a relatively high degree of certainty. This includes hardware and software maintenance revenue, cloud revenue, payment processing revenue, interchange and network revenue, cryptocurrency-related revenue, and certain professional services arrangements, as well as term-based software license arrangements that include customer termination rights.

Revenue is attributed to the geographic area to which the product is delivered or in which the service is provided. The following table presents revenue by geographic area for NCR for the years ended December 31:


In millions	2022		%		2021		%		2020		%
Revenue by Geographic Area
United States	$	4,308	55	%	$	3,632	51	%	$	3,065	49	%
Americas (excluding United States)	799		10	%	723		10	%	617		10	%
Europe, Middle East and Africa	1,816		23	%	1,883		26	%	1,679		27	%
Asia Pacific	921		12	%	918		13	%	846		14	%
Total revenue	$	7,844	100	%	$	7,156	100	%	$	6,207	100	%

The following table presents property, plant and equipment by geographic area as of December 31:


In millions	2022		2021
Property, plant and equipment, net
United States	$	408	$	429
Americas (excluding United States)	27		26
Europe, Middle East and Africa	163		197
Asia Pacific	65		51
Consolidated property, plant and equipment, net	$	663	$	703

Concentrations No single customer accounts for more than 10% of NCR’s consolidated revenue and accounts receivable as of and for the years ended December 31, 2022, 2021, and 2020. As of December 31, 2022, 2021, and 2020, NCR is not aware of any significant concentration of business transacted with a particular customer that could, if suddenly eliminated, have a material adverse effect on NCR’s operations. NCR also lacks a concentration of available sources of labor, services, licenses or other rights that could, if suddenly eliminated, have a material adverse effect on its operations.

A number of NCR’s products, systems and solutions rely primarily on specific suppliers for microprocessors and other component products, manufactured assemblies, operating systems, commercial software and other central components. NCR also utilizes contract manufacturers in order to complete manufacturing activities. There can be no assurances that any sudden impact to the availability or cost of these technologies or services would not have a material adverse effect on NCR’s operations.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

DEBT OBLIGATIONS

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

DEBT OBLIGATIONS

5. DEBT OBLIGATIONS

The following table summarizes the Company's short-term borrowings and long-term debt:


		December 31, 2022			December 31, 2021
In millions, except percentages		Amount		Weighted-Average Interest Rate	Amount		Weighted-Average Interest Rate
Short-Term Borrowings
Current portion of Senior Secured Credit Facility (1)		$	100	6.54%	$	56	2.63%

Other (1)		4		7.05%	1		2.13%
	Total short-term borrowings	$	104		$	57
Long-Term Debt
Senior Secured Credit Facility:
	Term loan facilities (1)	$	1,778	6.69%	$	1,884	2.63%
	Revolving credit facility (1)	523		6.79%	380		2.36%
Senior Notes:



	5.750% Senior Notes due 2027	500			500
	5.000% Senior Notes due 2028	650			650
	5.125% Senior Notes due 2029	1,200			1,200
	6.125% Senior Notes due 2029	500			500
	5.250% Senior Notes due 2030	450			450
Deferred financing fees		(49)			(60)
Other (1)		9		7.1%	1		6.62%
	Total long-term debt	$	5,561		$	5,505

(1) Interest rates are weighted average interest rates as of December 31, 2022 and 2021.

Senior Secured Credit Facility The Company is party to a Senior Secured Credit Facility, which provides for a senior secured term loan A facility in an aggregate principal amount of $1.305 billion (the “TLA Facility”), a senior secured term loan B facility in an aggregate principal amount of $750 million (the “TLB Facility” and together with the TLA Facility, the “Term Loan Facilities”), and a revolving credit facility with commitments in an initial aggregate principal amount of $1.3 billion (the “Revolving Credit Facility”).

As of December 31, 2022, the term loan facilities (the TLA Facility and the TLB Facility) under the Senior Secured Credit Facility have an aggregate principal amount of $2.055 billion, of which $1.88 billion remained outstanding. Additionally, as of December 31, 2022, there was $523 million outstanding under the Revolving Credit Facility. The Revolving Credit Facility also contains a sub-facility to be used for letters of credit, and, as of December 31, 2022, outstanding letters of credit were $29 million. Our borrowing capacity under our Revolving Credit Facility was $748 million at December 31, 2022.

Up to $400 million of the Revolving Credit Facility is available to certain of the subsidiaries of NCR as borrowers (collectively, the “Foreign Borrowers”), as long as there is availability under the Revolving Credit Facility. Term loans were made to the Company in U.S. Dollars, and loans under the Revolving Credit Facility are available in U.S. Dollars, Euros and Pound Sterling.

The outstanding principal balance of the TLB facility is required to be repaid in equal quarterly installments of 0.25% of the original aggregate principal amount that began with the fiscal quarter ending December 31, 2019, with the balance being due at maturity on August 28, 2026 (the “TLB Maturity Date”).

The outstanding principal balance of the TLA Facility is required to be repaid in equal quarterly installments of 1.875% of the original aggregate principal amount thereof, beginning with the fiscal quarter ending September 30, 2021, with the balance being due at maturity on the earlier of (a) June 21, 2026 and (b) unless the loans under TLB Facility have been repaid prior to such date, the date that is 91 days prior to the TLB Maturity Date.

Commitments under the Revolving Credit Facility are scheduled to terminate on the earlier of (a) June 21, 2026 and (b) unless the loans under TLB Facility have been repaid prior to such date, the date that is 91 days prior to the TLB Maturity Date. Loans under the Revolving Credit Facility may be repaid and reborrowed prior to such date, subject to the satisfaction of customary conditions.

Amounts covered under the Revolving Credit Facility and the TLA Facility bear interest at LIBOR (or, in the case of amounts denominated in Euros, EURIBOR), or, at our option, in the case of amounts denominated in U.S. Dollars, at a base rate equal to the highest of (i) the federal funds rate plus 0.50%, (ii) the rate of interest last quoted by the Wall Street Journal as the “prime rate”, (iii) the one-month LIBOR rate plus 1.00%, and (iv) 0.00% per annum (the “Base Rate”), plus, in each case, a margin ranging from 1.25% to 2.75% per annum for LIBOR-based and EURIBOR-based loans under such facilities and ranging from 0.25% to 1.75% per annum for Base Rate-based loans under such facilities, in each case, depending on our consolidated leverage ratio. Prior to the delivery of our financial statements for the fiscal quarter ended September 30, 2021, the applicable margin was 2.50% for LIBOR-based and EURIBOR-based loans under such facilities and 1.50% for Base Rate-based loans under such facilities. Amounts borrowed under the TLB Facility bear interest at LIBOR or, at our option, at the Base Rate, plus, in each case, a margin of 2.50% per annum for LIBOR-based loans and 1.50% per annum for Base Rate-based loans. The Amended and Restated Credit Agreement contains customary LIBOR and EURIBOR replacement provisions. The daily unused portion of the Revolving Credit Facility is subject to a commitment fee ranging from 0.15% to 0.45% per annum, depending on our consolidated leverage ratio.

The obligations under the Senior Secured Credit Facility are guaranteed by certain of the Company’s domestic material subsidiaries including NCR International, Inc. (the “Guarantor Subsidiary”) and certain domestic subsidiaries acquired through the Cardtronics Transaction (collectively, the “Cardtronics Guarantors” and together with the Guarantor Subsidiary, the “Guarantors”). The obligations under the Senior Secured Credit Facility and the above described guarantee are secured by a first priority lien and security interest in certain equity interests owned by the Company and the Guarantors in certain of their respective domestic and foreign subsidiaries, and a first priority lien and security interest in substantially all of the assets of the Company and the Guarantors, subject to certain exclusions. These security interests would be released if the Company achieves an “investment grade” rating and will remain released so long as the Company maintains an “investment grade” rating.

The Senior Secured Credit Facility includes affirmative and negative covenants that restrict or limit the ability of the Company and its subsidiaries to, among other things, incur indebtedness; create liens on assets; engage in certain fundamental corporate changes or changes to the Company's business activities; make investments; sell or otherwise dispose of assets; engage in sale-leaseback or hedging transactions; repurchase stock, pay dividends or make similar distributions; repay other indebtedness;

engage in certain affiliate transactions; or enter into agreements that restrict the Company's ability to create liens, pay dividends or make loan repayments. The Senior Secured Credit Facility also includes a financial covenant with respect to the Revolving Credit Facility and the TLA Facility. The financial covenant requires the Company to maintain:

•A consolidated leverage ratio on the last day of any fiscal quarter, not to exceed (i) in the case of any fiscal quarter ending on or prior to December 31, 2021, 5.50 to 1.00, (ii) in the case of any fiscal quarter ending on or prior to September 30, 2022, 5.25 to 1.00, and (iii) in the case of any fiscal quarter ending on or after December 31, 2022, 4.75 to 1.00.

The Company has the option to elect to increase the maximum permitted leverage ratio for the periods described in the foregoing clause (iii) by 0.25 in connection with the consummation of any material acquisition (as defined in the Senior Secured Credit Facility) for three fiscal quarters.

The Senior Secured Credit Facility also includes provisions for events of default, which are customary for similar financings. Upon the occurrence of an event of default, the lenders may, among other things, terminate the loan commitments, accelerate all loans and require cash collateral deposits in respect of outstanding letters of credit. If the Company is unable to pay or repay the amounts due, the lenders could, among other things, proceed against the collateral granted to them to secure such indebtedness.

The Company may request, at any time and from time to time one or more incremental term loans and/or revolving credit facilities (subject to the agreement of existing lenders or additional financial institutions to provide such term loans and/or revolving credit facilities) and with no requirement that existing lenders providing such facilities with commitments in an aggregate amount not to exceed the greater of (i) $150 million, and (ii) such amount as would not cause the leverage ratio under the Senior Secured Credit Facility, calculated on a pro forma basis including the incremental facility and assuming that it and the revolver are fully drawn, to exceed 3.00 to 1.00, and the proceeds of which can be used for working capital requirements and other general corporate purposes.

On December 27, 2022, the Company entered into a fifth amendment to the Senior Secured Credit Facility (the "Amendment"). The Amendment provides the Company and its subsidiaries with the flexibility to enter into financing and/or other monetization arrangements secured by certain automated teller machines and related receivables of the Company and its subsidiaries. The Amendment does not increase the overall debt or lien incurrence capacity under the Senior Secured Credit Facility.

For the year ended December 31, 2021, the Company incurred financing fees of $19 million related to certain structuring and commitment fees as a result of the financing transactions entered into during the first quarter of 2021.

Senior Unsecured Notes On August 21, 2019, the Company issued $500 million aggregate principal amount of 5.750% senior unsecured notes due in 2027 (the “5.750% Notes”). The 5.750% Notes were sold at 100% of the principal amount with a maturity date of September 1, 2027. The 5.750% Notes were issued without registration rights. The Company has the option to redeem the 5.750% Notes, in whole or in part, at any time on or after September 1, 2022, at a redemption price of 102.875%, 101.438%, and 100% during the 12-month periods commencing on September 1, 2022, 2023 and 2024 and thereafter, respectively, plus accrued and unpaid interest to the redemption date.

On August 21, 2019, the Company issued $500 million aggregate principal amount of 6.125% senior unsecured notes due in 2029 (the “6.125% Notes”). The 6.125% Notes were sold at 100% of the principal amount with a maturity date of September 1, 2029. The 6.125% Notes were issued without registration rights. The Company has the option to redeem the 6.125% Notes, in whole or in part, at any time on or after September 1, 2024, at a redemption price of 103.063%, 102.042%, 101.021% and 100% during the 12-month periods commencing on September 1, 2024, 2025, 2026 and 2027 and thereafter, respectively, plus accrued and unpaid interest to the redemption date. Prior to September 1, 2024, the Company may redeem the 6.125% Notes, in whole or in part, at a redemption price equal to 100% of the principal amount plus a make-whole premium and accrued and unpaid interest to the redemption date.

On August 20, 2020, the Company issued $650 million aggregate principal amount of 5.000% senior unsecured notes due in 2028 (the “5.000% Notes”) and $450 million aggregate principal amount of 5.250% senior unsecured notes due in 2030 (the “5.250% Notes”). Interest is payable on the 5.000% and 5.250% Notes semi-annually in arrears at interest rates of 5.000% and 5.250%, respectively, on April 1 and October 1 of each year beginning April 1, 2021. The 5.000% and 5.250% Notes were sold at 100% of the principal amount and with maturity dates of October 1, 2028 and October 1, 2030, respectively.

At any time and from time to time, prior to October 1, 2023, the Company may redeem up to a maximum of 40% of the original aggregate principal amount of either the 5.000% or 5.250% Notes with the proceeds of one or more equity offerings, at a redemption price equal to 105.000%, with respect to the 5.000% Notes, and 105.250%, with respect to the 5.250% Notes, of the principal amount thereof, plus accrued and unpaid interest thereon, if any, to, but not including, the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date); provided that: (i) at least 55% of the original aggregate principal amount of the 5.000% or 5.250% Notes remains outstanding; and (ii) such redemption occurs within 180 days of the completion of such equity offering.

Prior to October 1, 2023, with respect to the 5.000% Notes, or October 1, 2025, with respect to the 5.250% Notes, the Company may redeem some or all of such series of Notes by paying a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus the Applicable Premium, as defined in the Indenture, as of, and accrued and unpaid interest to, but excluding, the redemption date (subject to the right of holders of record of the Notes on the relevant record date to receive interest due on the relevant interest payment date).

The Company has the option to redeem the 5.000% Notes, in whole or in part, at any time on or after October 1, 2023, at a redemption price of 102.500%, 101.250%, and 100% during the 12-month periods commencing on October 1, 2023, 2024 and 2025 and thereafter, respectively, plus accrued and unpaid interest to the redemption date. The Company has the option to redeem the 5.250% Notes, in whole or in part, at any time on or after October 1, 2025, at a redemption price of 102.625%, 101.750%, 100.875%, and 100% during the 12-month periods commencing on October 1, 2025, 2026, 2027 and 2028 and thereafter, respectively, plus accrued and unpaid interest to the redemption date.

The senior unsecured notes are guaranteed by certain of the Company's domestic material subsidiaries (including the Guarantor Subsidiary and the Cardtronics Guarantors that joined as guarantors on October 14, 2021), which have guaranteed fully and unconditionally the obligations to pay principal and interest for these senior unsecured notes. The terms of the indentures for these notes limit the ability of the Company and certain of its subsidiaries to, among other things, incur additional debt or issue redeemable preferred stock; pay dividends or make certain other restricted payments or investments; incur liens; sell assets; incur restrictions on the ability of the Company's subsidiaries to pay dividends to the Company; enter into affiliate transactions; engage in sale and leaseback transactions; and consolidate, merge, sell or otherwise dispose of all or substantially all of the Company's or such subsidiaries' assets. These covenants are subject to significant exceptions and qualifications. For example, if these notes are assigned an “investment grade” rating by Moody's or S&P and no default has occurred or is continuing, certain covenants will be terminated.

On April 6, 2021, the Company issued $1.2 billion aggregate principal amount of 5.125% senior notes due 2029 (the “5.125% Notes”). The Company used the net proceeds from the issuance of the 5.125% Notes, together with the borrowing under its senior secured credit facilities to finance the consideration paid in connection with the Cardtronics Transaction.

The 5.125% Notes are senior unsecured obligations of the Company and guaranteed by the Guarantors.

Interest is payable on the 5.125% Notes semi-annually in arrears at annual rates of 5.125% on April 15 and October 15 of each year, beginning on October 15, 2021. The 5.125% Notes will mature on April 15, 2029.

At any time and from time to time, prior to April 15, 2024, the Company may redeem up to a maximum of 40% of the original aggregate principal amount of the 5.125% Notes with the proceeds of one or more equity offerings, at a redemption price equal to 105.125% of the principal amount thereof, plus accrued and unpaid interest thereon, if any, to, but not including, the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date); provided that: (i) at least 55% of the original aggregate principal amount of the applicable 5.125% Notes remains outstanding; and (ii) such redemption occurs within 180 days of the completion of such equity offering.

Prior to April 15, 2024, the Company may redeem some or all of the 5.125% Notes by paying a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus the applicable premium, as defined in the applicable indenture, as of, and accrued and unpaid interest to, but excluding, the applicable redemption date (subject to the right of holders of record of the applicable 5.125% Notes on the relevant record date to receive interest due on the relevant interest payment date).

On or after April 15 of the relevant year listed below, the Company may redeem some or all of the 5.125% Notes at the prices listed below, plus accrued and unpaid interest, if any, to, but not including, the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date): 2024 at a redemption price of 102.563%, 2025 at a redemption price of 101.281% and 2026 and thereafter at a redemption price of 100%.

The 5.125% Notes contains customary events of default, including, among other things, payment default, exchange default, failure to provide certain notices thereunder and certain provisions related to bankruptcy events. The indenture also contains customary high yield affirmative and negative covenants, including negative covenants that, among other things, limit the Company and its restricted subsidiaries’ ability to incur additional indebtedness, create liens on, sell or otherwise dispose of assets, engage in certain fundamental corporate changes or changes to lines of business activities, make certain investments or material acquisitions, engage in sale-leaseback or hedging transactions, repurchase common stock, pay dividends or make similar distributions on capital stock, repay certain indebtedness, engage in certain affiliate transactions and enter into agreements that restrict their ability to create liens, pay dividends or make loan repayments.

On August 12, 2021 (the “Redemption Date”), the $400 million 8.125% Notes were redeemed, at a redemption premium of 109.136% of the aggregate principal amount. As part of the debt extinguishment, we recognized a loss of $42 million, which includes the write-off of deferred financing fees of $5 million and a cash redemption premium of $37 million.

Other Debt: In December 2022, the Company entered into a borrowing agreement with Banc of America Leasing & Capital, LLC to direct funds to NCR in exchange for installment repayments and for security interest in ATM equipment in corresponding ATM-as-a-Service ("ATMaaS") contracts. The total amount available under the financing program is $20 million with repayment terms up to four years. As of December 31, 2022, total debt outstanding under the financing program was $12 million with a weighted average interest rate of 7.21% and a weighted average term of 3.7 years.

Debt Maturities Maturities of debt outstanding, in principal amounts, at December 31, 2022 are summarized below:


			For the years ended December 31
In millions	Total		2023		2024		2025		2026		2027		Thereafter
Debt maturities	$	5,714	$	104	$	105	$	106	$	2,093	$	506	$	2,800

Fair Value of Debt The Company utilized Level 2 inputs, as defined in the fair value hierarchy, to measure the fair value of the long-term debt, which, as of December 31, 2022 and 2021 was $5.25 billion and $5.74 billion, respectively. Management's fair value estimates were based on quoted prices for recent trades of NCR’s long-term debt, quoted prices for similar instruments, and inquiries with certain investment communities.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

TRADE RECEIVABLES FACILITY	12 Months Ended
TRADE RECEIVABLES FACILITY	Dec. 31, 2022
Receivables [Abstract]
TRADE RECEIVABLES FACILITY	6. TRADE RECEIVABLES FACILITY The Company maintains a trade receivables facility (the “T/R Facility”) with PNC Bank, National Association (“PNC”), which allows the Company's wholly-owned, bankruptcy remote subsidiary, NCR Receivables LLC (the “U.S. SPE”), to sell certain trade receivables on a revolving basis to PNC and the other unaffiliated purchasers participating in the T/R Facility. The T/R Facility, as amended, became effective September 30, 2021 and has a term of two years, which the Company and the U.S. SPE intend to renew. Under the T/R Facility, the Company and certain United States and Canadian operating subsidiaries of the Company continuously sell their trade receivables as they are originated to the U.S. SPE and a Canadian bankruptcy-remote special purpose entity (collectively, the “SPEs”), as applicable. None of the assets or credit of either SPE is available to satisfy the debts and obligations owed to the creditors of the Company or any other person until the obligations of the SPEs under the T/R Facility have been satisfied. The Company controls and therefore consolidates the SPEs in its consolidated financial statements. As cash is collected on the trade receivables, the U.S. SPE has the ability to continuously transfer ownership and control of new qualifying receivables to PNC and the other unaffiliated purchasers such that the total outstanding balance of trade receivables sold can be up to $300 million at any point in time, which is the maximum purchase commitment of PNC and the other unaffiliated purchasers. The future outstanding balance of trade receivables that are sold is expected to vary based on the level of activity and other factors and could be less than the maximum purchase commitment of $300 million. The total outstanding balance of trade receivables that have been sold and derecognized by the U.S. SPE to PNC and the other unaffiliated purchasers is approximately $300 million as of December 31, 2022 and December 31, 2021. Excluding the trade receivables sold to PNC and other unaffiliated purchasers, the SPEs collectively owned $321 million and $228 million of trade receivable as of December 31, 2022 and December 31, 2021, respectively, and these amounts are included in Accounts receivable, net in the Company’s Consolidated Balance Sheets. Upon the effectiveness of the T/R Facility, as amended, the Company received a benefit from cash from operations of approximately $300 million in the year ended December 31, 2021. Continuous cash activity related to the T/R Facility is reflected in Net cash provided by operating activities in the Consolidated Statements of Cash Flows. The U.S. SPE incurs fees due and payable to PNC and the other unaffiliated purchasers participating in the T/R Facility. Those fees, which are immaterial, are recorded within Other income (expense), net in the Consolidated Statements of Operations. In addition, each of the SPEs has provided a full recourse guarantee in favor of PNC and the other unaffiliated purchasers of the full and timely payment of all trade receivables sold to them by the U.S. SPE. The guarantee is collateralized by all the trade receivables owned by each of the SPEs that have not been sold to PNC or the other unaffiliated purchasers. The reserve recognized for this recourse obligation as of December 31, 2022 and 2021 is not material. The Company, or in the case of any Canadian trade receivables, NCR Canada Corp., continues to be involved with the trade receivables even after they are transferred to the SPEs (or further transferred to PNC and the other unaffiliated purchasers) by acting as servicer. In addition to any obligations as servicer, the Company and each of its subsidiaries acting as an originator under the T/R Facility provide the SPEs with customary recourse in respect of (i) certain dilutive events with respect to the trade receivables sold to the SPEs that are caused by the Company or another originator and (ii) in the event of certain violations by the Company or another originator of their representations and warranties with respect to the trade receivables sold to the SPEs. These servicing and originator liabilities of the Company and its subsidiaries (other than the SPEs) under the T/R Facility are not expected to be material, given the high quality of the customers underlying the receivables and the anticipated short collection period. The T/R Facility includes other customary representations and warranties, affirmative and negative covenants and default and termination provisions, which provide for the acceleration of amounts owed to PNC and the other unaffiliated purchasers thereunder in circumstances including, but not limited to, failure to pay capital or yield on when due, breach of representation, warranty or covenant, certain insolvency events or failure to maintain the security interest in the trade receivables, and defaults under other material indebtedness.

INCOME TAXES

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

7. INCOME TAXES

For the years ended December 31, income (loss) from continuing operations before income taxes consisted of the following:


In millions	2022		2021		2020
Income (loss) before income taxes
United States	$	(139)	$	(142)	$	(391)
Foreign	350		426		332
Total income (loss) from continuing operations before income taxes	$	211	$	284	$	(59)

For the years ended December 31, income tax expense (benefit) consisted of the following:


In millions	2022		2021		2020
Income tax expense (benefit)
Current
Federal	$	2	$	5	$	(9)
State	7		5		—
Foreign	79		87		68
Deferred
Federal	13		93		(108)
State	(1)		(8)		(6)
Foreign	48		4		2
Total income tax expense (benefit)	$	148	$	186	$	(53)

The following table presents the principal components of the difference between the effective tax rate and the U.S. federal statutory income tax rate for the years ended December 31:


In millions	2022		2021		2020
Income tax (benefit) expense at the U.S. federal tax rate of 21%	$	44	$	60	$	(12)
Foreign income tax differential	(8)		4		(14)
Additional U.S. tax on foreign income	7		21		13
State and local income taxes (net of federal effect)	5		2		(4)
Other U.S. permanent book/tax differences	2		3		2
Meals and entertainment expense	2		1		1
Nondeductible transaction costs	1		4		—
Disallowed executive compensation	12		15		10

Gains/losses on internal entity restructuring	—		55		2

Excess benefit/deficit from share-based payments	1		(6)		3
Change in branch tax status	—		1		—
Research and development tax credits	(6)		(6)		(7)
Foreign tax law changes	—		(13)		(4)
Valuation allowances	94		21		(32)
Change in liability for unrecognized tax benefits	(6)		13		(12)
Change in tax estimates for prior periods	(1)		11		—
Other, net	1		—		1
Total income tax (benefit) expense	$	148	$	186	$	(53)

NCR's tax provisions include a provision for income taxes in certain tax jurisdictions where its subsidiaries are profitable, but reflect only a portion of the tax benefits related to certain foreign subsidiaries' tax losses due to the uncertainty of the ultimate realization of future benefits from these losses. During 2022, our tax rate was impacted by a $94 million expense from recording a valuation allowance against deferred tax assets in the United Kingdom and other foreign jurisdictions. During 2021, significant matters impacting our tax rate include a $36 million expense from recording a valuation allowance against interest expense deduction carryforwards in the United States, a $14 million benefit from the deferred tax impact of a tax law change in the United Kingdom and a $40 million non-cash expense resulting from an internal entity restructuring. During 2020, the tax rate was impacted by a $48 million benefit from the release of a valuation allowance against U.S. foreign tax credits and the re-establishment of expected foreign tax credit offsets to unrecognized tax benefits.

NCR did not provide additional U.S. income tax or foreign withholding taxes, if any, on approximately $3.7 billion of undistributed earnings of its foreign subsidiaries, given the intention continues to be that those earnings are reinvested indefinitely. The amount of unrecognized deferred tax liability associated with these indefinitely reinvested earnings is approximately $152 million. The unrecognized deferred tax liability is made up of a combination of U.S. and state income taxes and foreign withholding taxes.

We regularly review our deferred tax assets for recoverability and establish a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized. The determination as to whether a deferred tax asset will be realized is made on a jurisdictional basis and is based on the evaluation of positive and negative evidence. This evidence includes historical taxable income/loss, projected future taxable income, the expected timing of the reversal of existing temporary differences and the implementation of tax planning strategies.

Deferred income tax assets and liabilities included in the Consolidated Balance Sheets as of December 31 were as follows:


In millions	2022		2021
Deferred income tax assets
Employee pensions and other benefits	$	139	$	202
Other balance sheet reserves and allowances	257		233
Tax loss and credit carryforwards	616		656
Capitalized research and development	46		39
Property, plant and equipment	15		18
Lease liabilities	90		101

Other	36		27
Total deferred income tax assets	$	1,199	$	1,276
Valuation allowance	(448)		(368)
Net deferred income tax assets	$	751	$	908
Deferred income tax liabilities
Intangibles	$	71	$	73
Right of use assets	92		101
Capitalized software	27		58

Total deferred income tax liabilities	$	190	$	232
Total net deferred income tax assets	$	561	$	676

NCR has previously recorded valuation allowances related to certain deferred tax assets due to the uncertainty of the ultimate realization of the future benefits from those assets. The recorded valuation allowances cover deferred tax assets, primarily tax loss carryforwards and foreign tax credits, in tax jurisdictions where there is uncertainty as to the ultimate realization of those tax losses and credits. If we are unable to generate sufficient future taxable income of the proper source in the time period within which the temporary differences underlying our deferred tax assets become deductible, or before the expiration of our loss and credit carryforwards, additional valuation allowances could be required.

As of December 31, 2022, NCR had U.S. federal, U.S. state (tax effected), and foreign tax attribute carryforwards of approximately $1.7 billion. The net operating loss carryforwards that are subject to expiration will expire in the years 2023 through 2040. The attributes include U.S. tax credit carryforwards of $200 million, which expire in the years 2025 through 2042. As a result of stock ownership changes, our U.S. tax attributes could be subject to limitations under Section 382 of the U.S. Internal Revenue Code of 1986, as amended, if further material stock ownership changes occur.

The aggregate changes in the balance of our gross unrecognized tax benefits were as follows for the years ended December 31:


In millions	2022		2021		2020
Gross unrecognized tax benefits - January 1	$	121	$	103	$	121
Increases related to tax positions from prior years	3		25		15
Decreases related to tax positions from prior years	(15)		(4)		(6)
Increases related to tax provisions taken during the current year	7		7		6
Settlements with tax authorities	(22)		(2)		(23)
Lapses of statutes of limitation	(7)		(8)		(10)
Total gross unrecognized tax benefits - December 31	$	87	$	121	$	103

Of the total amount of gross unrecognized tax benefits as of December 31, 2022, $59 million would affect NCR’s effective tax rate if realized. The Company’s liability arising from uncertain tax positions is recorded in Income tax accruals and Other current liabilities in the Consolidated Balance Sheets.

We recognized interest and penalties associated with uncertain tax positions as part of the provision for income taxes in our Consolidated Statements of Operations of $1 million of benefit, zero, and $5 million of benefit for the years ended December 31, 2022, 2021, and 2020, respectively. The gross amount of interest and penalties accrued as of December 31, 2022 and 2021 was $26 million and $30 million, respectively.

In the United States, NCR files consolidated federal and state income tax returns where statutes of limitations generally range from three to five years. In 2022, the IRS commenced an examination of our 2019 income tax return, which is ongoing. U.S. federal tax years remain open from 2019 forward. Years beginning on or after 2010 are still open to examination by certain foreign taxing authorities, including India, Egypt, and other major taxing jurisdictions.

The Company engages in continuous discussions and negotiations with taxing authorities regarding tax matters, and the Company has determined that over the next 12 months it expects to resolve certain tax matters related to U.S. and foreign jurisdictions. As a result, as of December 31, 2022, we estimate that it is reasonably possible that unrecognized tax benefits may decrease by $3 million to $5 million in the next 12 months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

STOCK COMPENSATION PLANS

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

STOCK COMPENSATION PLANS

8. STOCK COMPENSATION PLANS

The Company recognizes all share-based payments as compensation expense in its financial statements based on their fair value. As of December 31, 2022, the Company’s stock-based compensation consisted of restricted stock units, employee stock purchase plan and stock options. The Company recorded stock-based compensation expense for the years ended December 31 as follows:


In millions	2022		2021	2020
Restricted stock units	$	99	123	78
Stock options	17		23	24
Employee stock purchase plan	9		8	6
Stock-based compensation expense	125		154	108
Tax benefit	(14)		(18)	(13)
Total stock-based compensation (net of tax)	$	111	136	95

Approximately 27 million shares (i) remain available for future issuance and (ii) are issuable upon the exercise or settlement of outstanding awards under the 2017 Stock Incentive Plan ("SIP"). Details of the Company's stock-based compensation plans are discussed below.

Restricted Stock Units

The SIP provides for the grant of several different forms of stock-based compensation, including restricted stock units. Restricted stock units can have service-based and/or performance-based vesting with performance goals being established by the Compensation and Human Resource Committee of the Company’s Board of Directors. Any grant of restricted stock units is generally subject to a vesting period of 12 months to 48 months, to the extent permitted by the SIP. Performance-based grants conditionally vest upon achievement of future performance goals based on performance criteria such as the Company’s achievement of specific return on capital and/or other financial metrics (as defined in the SIP) during the performance period. Performance-based grants must be earned, based on performance, before the actual number of shares to be awarded is known. The Compensation and Human Resource Committee considers the likelihood of meeting the performance criteria based upon estimates and other relevant data, and certifies performance based on its analysis of achievement against the performance criteria. A recipient of restricted stock units does not have the rights of a stockholder and is subject to restrictions on transferability and risk of forfeiture. Other terms and conditions applicable to any award of restricted stock units will be determined by the Compensation and Human Resource Committee and set forth in the agreement relating to that award.

The following table reports restricted stock unit activity during the year ended December 31, 2022:


Shares in thousands	Number of Units	Weighted Average Grant-Date Fair Value per Unit
Unvested shares as of January 1	7,922	$	32.86
Shares granted	6,284	$	35.08
Shares vested	(4,171)	$	27.97
Shares forfeited	(958)	$	36.53
Unvested shares as of December 31	9,077	$	35.67

Stock-based compensation expense is recognized in the financial statements based upon fair value. The total fair value of units vested and distributed in the form of NCR common stock was $117 million in 2022, $119 million in 2021, and $74 million in 2020. As of December 31, 2022, there was $197 million of unrecognized compensation cost related to unvested restricted stock unit grants. The unrecognized compensation cost is expected to be recognized over a remaining weighted-average period of 1.2 years. The weighted average grant date fair value for restricted stock unit awards granted in 2021 and 2020 was $34.00 and $26.50, respectively. The weighted average grant date fair value of restricted stock awards assumed through the Cardtronics acquisition is based on the fair value on the date assumed.

The following table represents the composition of restricted stock unit grants in 2022:


Shares in thousands	Number of Units	Weighted Average Grant-Date Fair Value
Service-based units	2,667	$	30.58
Performance-based units	3,617	$	37.76
Total restricted stock units	6,284	$	35.08

On February 25, 2022, the Company granted market-based restricted stock units vesting on December 31, 2024. The number of awards that vest are subject to the performance of the Company's stock price from the date of grant to December 31, 2024. The fair value was determined to be $57.67 per share based on using a Monte-Carlo simulation model and will be recognized over the requisite service period. The table below details the assumptions used in determining the fair value of the market-based restricted stock units.



Dividend yield	—	%
Risk-free interest rate	1.73	%
Expected volatility	59.26	%

Expected volatility for the market-based restricted stock units is calculated as the historical volatility of the Company’s stock over a period of three years, as management believes this is the best representation of prospective trends. The risk-free interest rate was determined based on a three year U.S. Treasury yield curve in effect at the time of the grant.

On December 21, 2022, the Company granted market-based restricted stock units vesting on December 31, 2025. The number of awards that vest are subject to the compound annual growth rate ("CAGR") of the Company's stock price from January 1, 2023 to December 31, 2025 (the "performance period"), subject to an alternative level of achievement based on the Company's relative total shareholder return ranking among a comparison group. The fair value of the awards was determined to be $29.66 per share based on using a Monte-Carlo simulation model and will be recognized over the requisite service period.

Approximately 50% of these market-based restricted stock units granted include an accelerated vesting provision if a Qualified Transaction, as defined in the award agreement, takes place during the performance period (with a minimum vesting period of one year from the grant date). Upon the occurrence of a Qualified Transaction, the number of shares that vest are then based on the Company's 20-day volume-weighted average closing stock price immediately preceding the transaction date. If a qualifying transaction is deemed probable, the award will be recognized over the adjusted requisite service period at a fair value determined using a Monte-Carlo simulation model ranging from $30.00 to $35.81 per unit, dependent upon the estimated

timing of the transaction. Transactions of this nature are subject to many variables that are highly uncertain, including the receipt of regulatory approvals and market conditions.

The table below details the significant assumptions used in determining the fair value of the market-based restricted stock units granted on December 21, 2022:


Dividend yield	—	%
Risk-free interest rate	3.90	%
Expected volatility	64.93	%

Expected volatility for these restricted stock units is calculated as the historical volatility of the Company’s stock over a period of approximately three years, as management believes this is the best representation of prospective trends. The risk-free interest rate was determined based on a three year U.S. Treasury yield curve in effect at the time of the grant.

Stock Options

The SIP also provides for the grant of stock options to purchase shares of NCR common stock. The Compensation and Human Resource Committee has discretion to determine the material terms and conditions of option awards under the SIP, provided that (i) the exercise price must be no less than the fair market value of NCR common stock (defined as the closing price) on the date of grant, (ii) the term must be no longer than ten years, and (iii) in no event shall the normal vesting schedule provide for vesting in less than one year. Other terms and conditions of an award of stock options will be determined by the Compensation and Human Resource Committee as set forth in the agreement relating to that award. The Compensation and Human Resource Committee has authority to administer the SIP, except that the Committee on Directors and Governance of the Company’s Board of Directors will administer the SIP with respect to non-employee members of the Board of Directors. New shares of the Company’s common stock are issued as a result of stock option exercises.

During the years ended December 31, 2022 and 2021, the Company did not grant any stock options. During the year ended December 31, 2022, as discussed in Note 2, “Business Combinations”, the Company converted certain outstanding unvested LibertyX awards into NCR awards. LibertyX stock option awards were converted into NCR stock option awards with an exercise price per share for option awards equal to the exercise price per share of such stock option award immediately prior to the completion of the acquisition divided by the exchange ratio (as defined in the acquisition agreement), and vested immediately. The value of the option awards was deemed attributable to services already rendered and was included as a portion of the purchase price.

During the year ended December 31, 2021, as discussed in Note 2, “Business Combinations”, the Company converted certain outstanding unvested Cardtronics awards into NCR awards. Cardtronics stock option awards were converted into NCR stock option awards with an exercise price per share for option awards equal to the exercise price per share of such stock option award immediately prior to the completion of the acquisition divided by the exchange ratio (as defined in the acquisition agreement) and will continue to be governed generally by the same terms and conditions as were applicable prior to the acquisition. The fair value of options that the Company assumed in connection with the acquisition of Cardtronics were estimated using the Black-Scholes model.

The following table summarizes the Company’s stock option activity for the year ended December 31, 2022:


Shares in thousands	Shares Under Option	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding as of January 1	9,079	$	32.96
Granted	—	$	—
Assumed through acquisition	217	$	1.21
Exercised	(255)	$	10.00
Forfeited or expired	(346)	$	33.87
Outstanding as of December 31	8,695	$	32.81	3.29	$	3.48
Fully vested and expected to vest as of December 31	1,863	$	34.08	3.97	$	0.82
Exercisable as of December 31	6,752	$	32.43	3.12	$	2.67

As of December 31, 2022, the total unrecognized compensation cost of $2 million related to unvested stock option grants is expected to be recognized over a weighted average period of approximately 0.2 years.

The total intrinsic value of all options exercised was $7 million in 2022, $9 million in 2021, and $1 million in 2020. Cash received from option exercises under all share-based payment arrangements was $2 million in 2022, $25 million in 2021, and $2 million in 2020. There was $1 million tax benefit realized from option exercises in 2021. There was no tax benefit realized from stock options exercised in 2022 or 2020.

Employee Stock Purchase Plan

The Company's amended Employee Stock Purchase Plan ("ESPP") provides employees a 15% discount on stock purchases using a three-month look-back feature where the discount is applied to the stock price that represents the lower of NCR’s closing stock price on either the first day or the last day of each calendar quarter. Participants can contribute between 1% and 10% of their compensation. The amended ESPP was approved by NCR stockholders in 2016 and became effective January 1, 2017.

Employees purchased approximately 1.3 million shares in 2022, 0.8 million shares in 2021, and 1.3 million shares in 2020, for approximately $29 million in 2022, $26 million in 2021 and $21 million in 2020. A total of 4 million shares were originally authorized to be issued under the ESPP before its amendment. Under the amended ESPP, 10 million shares were newly authorized to be issued, plus any shares remaining unissued under the prior ESPP after the last 2016 purchase date. Approximately 5.5 million authorized shares remain unissued under our amended ESPP as of December 31, 2022.

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

9. EMPLOYEE BENEFIT PLANS

Pension, Postretirement and Postemployment Plans NCR sponsors defined benefit pension plans. NCR’s U.S. pension plan no longer offers additional benefits and is closed to new participants. Internationally, the defined benefit plans are based primarily upon compensation and years of service. Certain international plans also no longer offer additional benefits and are closed to new participants. NCR’s funding policy is to contribute annually no less than the minimum required by applicable laws and regulations. Assets of NCR’s defined benefit plans are primarily invested in common and commingled trusts, corporate and government debt securities, publicly traded common stocks, real estate investments, and cash or cash equivalents.

NCR recognizes the funded status of each applicable plan on the Consolidated Balance Sheets. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability. For pension plans, changes in the fair value of plan assets and net actuarial gains or losses are recognized upon remeasurement, which is at least annually in the fourth quarter of each year. For postretirement and postemployment plans, changes to the funded status are recognized as a component of other comprehensive loss in stockholders' equity.

NCR sponsors a U.S. postretirement benefit plan that no longer offers benefits to U.S. participants who had not reached a certain age and years of service with NCR. The plan provides medical care benefits to retirees and their eligible dependents. Non-U.S. employees are typically covered under government-sponsored programs, and NCR generally does not provide postretirement benefits other than pensions to non-U.S. retirees. NCR generally funds these benefits on a pay-as-you-go basis.

NCR offers various postemployment benefits to involuntarily terminated and certain inactive employees after employment but before retirement. These benefits are paid in accordance with NCR’s established postemployment benefit practices and policies. Postemployment benefits include mainly severance as well as continuation of healthcare benefits and life insurance coverage while on disability. NCR provides appropriate accruals for these postemployment benefits. These postemployment benefits are funded on a pay-as-you-go basis.

Pension Plans Reconciliation of the beginning and ending balances of the benefit obligations for NCR's pension plans are as follows:


	U.S. Pension Benefits				International Pension Benefits				Total Pension Benefits
In millions	2022		2021		2022		2021		2022		2021
Change in benefit obligation
Benefit obligation as of January 1	$	1,882	$	2,067	$	1,105	$	1,246	$	2,987	$	3,313
Net service cost	—		—		5		6		5		6
Interest cost	39		34		12		8		51		42
Amendment	—		—		—		(6)		—		(6)
Actuarial (gain) loss	(409)		(102)		(222)		(57)		(631)		(159)
Benefits paid	(115)		(117)		(53)		(60)		(168)		(177)
Settlements	—		—		(1)		—		(1)		—
Plan participant contributions	—		—		—		—		—		—
Currency translation adjustments	—		—		(78)		(32)		(78)		(32)
Benefit obligation as of December 31	$	1,397	$	1,882	$	768	$	1,105	$	2,165	$	2,987
Accumulated benefit obligation as of December 31	$	1,397	$	1,882	$	761	$	1,095	$	2,158	$	2,977

A reconciliation of the beginning and ending balances of the fair value of the plan assets of NCR's pension plans are as follows:


	U.S. Pension Benefits				International Pension Benefits				Total Pension Benefits
In millions	2022		2021		2022		2021		2022		2021
Change in plan assets
Fair value of plan assets as of January 1	$	1,379	$	1,528	$	1,106	$	1,118	$	2,485	$	2,646
Actual return on plan assets	(324)		(32)		(225)		47		(549)		15
Company contributions	50		—		17		17		67		17
Benefits paid	(115)		(117)		(53)		(60)		(168)		(177)
Settlement	—		—		(1)		—		(1)		—
Currency translation adjustments	—		—		(84)		(16)		(84)		(16)
Plan participant contributions	—		—		—		—		—		—
Fair value of plan assets as of December 31	$	990	$	1,379	$	760	$	1,106	$	1,750	$	2,485

The following table presents the funded status and the reconciliation of the funded status to amounts recognized in the Consolidated Balance Sheets and in Accumulated other comprehensive loss as of December 31:


	U.S. Pension Benefits				International Pension Benefits				Total Pension Benefits
In millions	2022		2021		2022		2021		2022		2021
Funded Status	$	(407)	$	(503)	$	(8)	$	1	$	(415)	$	(502)
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	$	—	$	—	$	212	$	300	$	212	$	300
Current liabilities	—		—		(13)		(13)		(13)		(13)
Noncurrent liabilities	(407)		(503)		(207)		(286)		(614)		(789)
Net amounts recognized	$	(407)	$	(503)	$	(8)	$	1	$	(415)	$	(502)
Amounts recognized in accumulated other comprehensive loss
Prior service cost	—		—		13		17		13		17
Total	$	—	$	—	$	13	$	17	$	13	$	17

For pension plans with accumulated benefit obligations in excess of plan assets, the projected benefit obligation, accumulated benefit obligation and fair value of assets were $1,584 million, $1,582 million, and $992 million, respectively, as of December 31, 2022, and $2,151 million, $2,149 million and $1,382 million, respectively, as of December 31, 2021.

The net periodic benefit (income) cost of the pension plans for the years ended December 31 was as follows:


In millions	U.S. Pension Benefits						International Pension Benefits						Total Pension Benefits
	2022		2021		2020		2022		2021		2020		2022		2021		2020
Net service cost	$	—	$	—	$	—	$	5	$	6	$	6	$	5	$	6	$	6
Interest cost	39		34		51		12		8		13		51		42		64
Expected return on plan assets	(66)		(30)		(36)		(27)		(25)		(28)		(93)		(55)		(64)
Amortization of prior service cost	—		—		—		—		1		1		—		1		1


Actuarial (gain) loss	(20)		(40)		18		28		(78)		16		8		(118)		34
Net periodic benefit (income) cost	$	(47)	$	(36)	$	33	$	18	$	(88)	$	8	$	(29)	$	(124)	$	41

The net actuarial loss in 2022 was primarily due to the impact of economic downturns on the value of plan assets, partially offset by an increase in discount rates in measuring the benefit obligation. Actuarial gains in 2021 were primarily due to an increase in discount rates as well as a favorable impact from an update to the mortality tables. Actuarial losses in 2020 were primarily due to a decrease in the discount rate.

The weighted average rates and assumptions used to determine benefit obligations as of December 31 were as follows:


	U.S. Pension Benefits				International Pension Benefits				Total Pension Benefits
	2022		2021		2022		2021		2022		2021
Discount rate	5.3	%	2.7	%	3.8	%	1.4	%	4.8	%	2.2	%
Rate of compensation increase	N/A		N/A		1.8	%	1.4	%	1.8	%	1.4	%

The weighted average rates and assumptions used to determine net periodic benefit (income) cost for the years ended December 31 were as follows:


	U.S. Pension Benefits						International Pension Benefits						Total Pension Benefits
	2022		2021		2020		2022		2021		2020		2022		2021		2020
Discount rate - Service Cost	N/A		N/A		N/A		0.9	%	0.4	%	0.7	%	0.9	%	0.4	%	0.7	%
Discount rate - Interest Cost	2.1	%	1.7	%	2.7	%	1.2	%	0.7	%	1.2	%	1.8	%	1.3	%	2.1	%
Expected return on plan assets	5.0	%	2.1	%	2.8	%	2.7	%	2.2	%	2.6	%	4.0	%	2.1	%	2.7	%
Rate of compensation increase	N/A		N/A		N/A		1.4	%	0.9	%	0.9	%	1.4	%	0.9	%	0.9	%

The weighted-average cash balance interest crediting rate for the Company's cash balance defined benefit plans was 2.1% and 1.1% for the years ended December 31, 2022 and 2021, respectively.

The discount rate used to determine U.S. benefit obligations as of December 31, 2022 was derived by matching the plans’ expected future cash flows to the corresponding yields from the Willis Tower Watson ("WTW") Rate:Link 10th-90th yield curve. In fiscal 2021 and 2020, the discount rate was determined using the Aon Hewitt AA Bond Universe Curve. The WTW Rate:Link 10th-90th yield curve has been constructed to represent the available yields on high-quality, fixed income investments across a broad range of future maturities. International discount rates were determined by examining interest rate levels and trends within each country, particularly yields on high-quality, long-term corporate bonds, relative to our future expected cash flows.

NCR employs a building block approach as its primary approach in determining the long-term expected rate of return assumptions for plan assets. Historical market returns are studied and long-term relationships between equities and fixed income are preserved consistent with the widely accepted capital market principle that assets with higher volatilities generate higher returns over the long run. Current market factors, such as inflation and interest rates are evaluated before long-term capital market assumptions are determined. The expected long-term portfolio return is established for each plan via a building block approach with proper rebalancing consideration. The result is then adjusted to reflect additional expected return from active management net of plan expenses. Historical plan returns, the expectations of other capital market participants, and peer data may be used to review and assess the results for reasonableness and appropriateness.

Plan Assets The weighted average asset allocations as of December 31, 2022 and 2021 by asset category are as follows:


	U.S. Pension Fund					International Pension Fund
	Actual Allocation of Plan Assets as of December 31				Target Asset Allocation (3)	Actual Allocation of Plan Assets as of December 31				Target Asset Allocation
	2022		2021			2022		2021
Equity and other investments (1)	61	%	14	%	60 - 85%	21	%	23	%	10 - 30%
Debt securities (2)	20	%	84	%	5 - 20%	45	%	51	%	50 - 70%
Real estate	—	%	—	%	0 - 20%	20	%	14	%	10 - 20%
Other	19	%	2	%	10 - 30%	14	%	12	%	5 - 15%
Total	100	%	100	%		100	%	100	%

(1) Includes equity securities and equities held in comingled trusts.

(2) Includes debt securities and debt held in comingled trusts.

(3) In 2022, the Company had a change in investment strategy for the U.S. pension plan. Refer to the Investment Strategy section below.

The fair value of plan assets as of December 31, 2022 and 2021 by asset category is as follows:


		U.S.										International
In millions	Notes	Fair Value as of December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling		Fair Value as of December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling
Assets
Equity securities and other investments:
Common stock	1	$	—	$	—	$	—	$	—	$	—	$	88	$	—	$	—	$	—	$	88
Common and commingled trusts - Equities	4	603		—		—		—		603		75		—		—		—		75
Fixed income securities:
Government securities	2	—		—		—		—		—		—		—		—		—		—
Corporate debt	3	—		—		—		—		—		76		—		59		—		17
Common and commingled trusts - Bonds	4	196		—		—		—		196		330		—		—		—		330
Insurance products	4	—		—		—		—		—		1		—		1		—		—
Real Estate
Partnership/joint venture interests - Real estate	5	—		—		—		—		—		—		—		—		—		—
Real estate and other	5	—		—		—		—		—		154		—		—		154		—
Other types of investments:
Common and commingled trusts - Short Term Investments	4	52		—		—		—		52		20		—		—		—		20
Common and commingled trusts - Balanced	4	—		—		—		—		—		—		—		—		—		—
Partnership/joint venture interests - Other	5	25		—		—		—		25		—		—		—		—		—
Mutual funds	4	—		—		—		—		—		—		—		—		—		—
Hedge Funds	4	114		—		—		—		114
Money market funds	4	—		—		—		—		—		16		—		—		—		16
Total		$	990	$	—	$	—	$	—	$	990	$	760	$	—	$	60	$	154	$	546


		U.S.										International
In millions	Notes	Fair Value as of December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling		Fair Value as of December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling
Assets
Equity securities:
Common stock	1	$	194	$	194	$	—	$	—	$	—	$	26	$	26	$	—	$	—	$	—
Common and commingled trusts - Equities	4	—		—		—		—		—		145		—		—		—		145
Fixed income securities:
Government securities	2	201				201		—		—		—		—		—		—		—
Corporate debt	3	752		—		752		—		—		87		—		87		—		—
Common and commingled trusts - Bonds	4	159		—		—		—		159		457		—		—		—		457
Insurance products	4	—		—		—		—		—		1		—		1		—		—
Real Estate
Partnership/joint venture interests - Real estate	5	—		—		—		—		—		—		—		—		—		—
Real estate and other	5	—		—		—		—		—		151		—		—		151		—
Other types of investments:
Common and commingled trusts - Short Term Investments	4	39		—		—		—		39		27		—		—		—		27
Common and commingled trusts - Balanced	4	—		—		—		—		—		185		—		—		—		185
Partnership/joint venture interests - Other	5	2		—		—		—		2		—		—		—		—		—
Mutual funds	4	30		30		—		—		—		—		—		—		—		—
Money market funds	4	2		—		—		—		2		27		—		—		—		27
Total		$	1,379	$	224	$	953	$	—	$	202	$	1,106	$	26	$	88	$	151	$	841

Notes:

1.Common stocks are valued based on quoted market prices at the closing price as reported on the active market on which the individual securities are traded.

2.Government securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar securities, the security is valued under a discounted cash flows approach that maximizes observable inputs, such as current yields on similar instruments but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks.

3.Corporate debt is valued primarily based on observable market quotations for similar bonds at the closing price reported on the active market on which the individual securities are traded. When such quoted prices are not available, the bonds are valued using a discounted cash flows approach using current yields on similar instruments of issuers with similar credit ratings.

4.Common/collective trusts and registered investment companies (RICs) such as mutual funds are valued using a Net Asset Value (NAV) provided by the manager of each fund. The NAV is based on the underlying net assets owned by the fund, divided by the number of shares or units outstanding. The fair value of the underlying securities within the fund, which are generally traded on an active market, are valued at the closing price reported on the active market on which those individual securities are traded. For investments not traded on an active market, or for which a quoted price is not publicly

available, a variety of unobservable valuation methodologies, including discounted cash flow, market multiple and cost valuation approaches, are employed by the fund manager or independent third party to value investments.

5.Partnership/joint ventures are valued based on the fair value of the underlying securities within the fund, which include investments both traded on an active market and not traded on an active market. For those investments that are traded on an active market, the values are based on the closing price reported on the active market on which those individual securities are traded. For investments not traded on an active market, or for which a quoted price is not publicly available, a variety of unobservable valuation methodologies, including discounted cash flow, market multiples and cost valuation approaches, are employed by the fund manager to value investments.

The following table presents the reconciliation of the beginning and ending balances of those plan assets classified within Level 3 of the valuation hierarchy. When the determination is made to classify the plan assets within Level 3, the determination is based upon the significance of the unobservable inputs to the overall fair value measurement.


In millions	International Pension Plans
Balance, December 31, 2020	$	152
Realized and unrealized gains and losses, net	(1)
Purchases, sales and settlements, net	—
Transfers, net	—
Balance, December 31, 2021	$	151
Realized and unrealized gains and losses, net	3
Purchases, sales and settlements, net	—
Transfers, net	—
Balance, December 31, 2022	$	154

Investment Strategy NCR has historically employed a total return investment approach, whereby a mix of fixed-income, equities and real estate investments are used to maximize the long-term return of plan assets subject to a prudent level of risk. The risk tolerance is established for each plan through a careful consideration of plan liabilities, plan funded status and corporate financial condition. During 2022, in consultation with an independent advisor on asset allocation strategy investment policy and objectives, we chose to diversify the asset allocation held by the U.S. pension plan to capture additional returns to reduce future cash funding requirements.

The investment portfolios contain a diversified mix of asset classes, including, fixed-income investments, which are diversified across U.S. and non-U.S. issuers, type of fixed-income security (i.e., government bonds, corporate bonds, mortgage-backed securities) and credit quality. The investment portfolios also contain a blend of equity investments, which are diversified across U.S. and non-U.S. stocks, small and large capitalization stocks, and growth and value stocks, primarily of non-U.S. issuers. Where applicable, real estate investments are made through real estate securities, partnership interests or direct investment and are diversified by property type and location. Other assets, such as cash or private equity are used judiciously to improve portfolio diversification and enhance risk-adjusted portfolio returns. Derivatives may be used to adjust market exposures in an efficient and timely manner. Due to the timing of security purchases and sales, cash held by fund managers is classified in the same asset category as the related investment. Rebalancing algorithms are applied to keep the asset mix of the plans from deviating excessively from their targets. Investment risk is measured and monitored on an ongoing basis through regular performance reporting, investment manager reviews, actuarial liability measurements and periodic investment strategy reviews.

Postretirement Plans Reconciliation of the beginning and ending balances of the benefit obligation for NCR's U.S. postretirement plan is as follows:


	Postretirement Benefits
In millions	2022		2021
Change in benefit obligation
Benefit obligation as of January 1	$	14	$	16

Interest cost	—		—
Actuarial gain	(6)		(1)
Plan participant contributions	—		—
Benefits paid	(1)		(1)
Benefit obligation as of December 31	$	7	$	14


	Postretirement Benefits
In millions	2022		2021
Benefit obligation	$	(7)	$	(14)
Amounts recognized in the Consolidated Balance Sheets
Current liabilities	$	(2)	$	(1)
Noncurrent liabilities	(5)		(13)
Net amounts recognized	$	(7)	$	(14)
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss (gain)	$	(6)	$	5
Prior service benefit	—		—
Total	$	(6)	$	5

The net periodic benefit cost (income) of the postretirement plan for the years ended December 31 was:


In millions	Postretirement Benefits
	2022		2021		2020
Interest cost	$	—	$	—	$	—

Amortization of:
Prior service benefit	—		—		(3)
Actuarial loss	1		1		1
Net periodic benefit cost (income)	$	1	$	1	$	(2)

The assumptions utilized in accounting for postretirement benefit obligations as of December 31 and for postretirement benefit income for the years ended December 31 were:


	Postretirement Benefit Obligations						Postretirement Benefit Costs
	2022		2021		2020		2022		2021		2020
Discount rate	5.2	%	1.9	%	1.4	%	1.9	%	1.4	%	2.5	%

Assumed healthcare cost trend rates as of December 31 were:


	2022				2021
	Pre-65 Coverage		Post-65 Coverage		Pre-65 Coverage		Post-65 Coverage
Healthcare cost trend rate assumed for next year	7.5	%	7.0	%	6.3	%	5.7	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.0	%	5.0	%	5.0	%	5.0	%
Year that the rate reaches the ultimate rate	2033		2033		2028		2028

Postemployment Benefits Reconciliation of the beginning and ending balances of the benefit obligation for NCR's postemployment plan was:


	Postemployment Benefits
In millions	2022		2021
Change in benefit obligation
Benefit obligation as of January 1	$	138	$	138

Service cost (1)	71		24
Interest cost	3		2

Benefits paid	(32)		(26)
Foreign currency exchange	(8)		(7)
Actuarial (gain) loss	(14)		7
Benefit obligation as of December 31	$	158	$	138

(1) During the year ended December 31, 2022, the Company recorded approximately $56 million in employee severance charges related to actions taken in the second half of the year.

The following table presents the funded status and the reconciliation of the unfunded status to amounts recognized in the Consolidated Balance Sheets and in Accumulated other comprehensive loss at December 31:


	Postemployment Benefits
In millions	2022		2021
Benefit obligation	$	(158)	$	(138)
Amounts recognized in the Consolidated Balance Sheets
Current liabilities	$	(73)	$	(32)
Noncurrent liabilities	(85)		(106)
Net amounts recognized	$	(158)	$	(138)
Amounts recognized in Accumulated other comprehensive loss
Net actuarial gain	$	(37)	$	(19)
Prior service benefit	(4)		(6)
Total	$	(41)	$	(25)

The net periodic benefit cost of the postemployment plan for the years ended December 31 was:


In millions	Postemployment Benefits
	2022		2021		2020
Service cost	$	71	$	24	$	42
Interest cost	3		2		3
Amortization of:
Prior service benefit	(2)		(2)		(2)
Actuarial gain	(1)		(4)		(4)
Net periodic benefit cost	$	71	$	20	$	39

The weighted average assumptions utilized in accounting for postemployment benefit obligations as of December 31 and for postemployment benefit costs for the years ended December 31 were:


	Postemployment Benefit Obligations				Postemployment Benefit Costs
	2022		2021		2022		2021		2020
Discount rate for severance plan	5.1	%	1.4	%	2.3	%	2.3	%	1.8	%

Salary increase rate	3.1	%	2.0	%	2.6	%	2.6	%	1.8	%
Involuntary turnover rate	3.8	%	3.8	%	3.8	%	3.8	%	3.8	%

Cash Flows Related to Employee Benefit Plans

Cash Contributions NCR does not plan to contribute to the U.S. qualified pension plan in 2023, and plans to contribute approximately $20 million to the international pension plans in 2023. The Company also plans to make contributions of approximately $2 million to the U.S. postretirement plan and approximately $75 million to the postemployment plan in 2023.

Estimated Future Benefit Payments NCR expects to make the following benefit payments reflecting past and future service from its pension, postretirement and postemployment plans:


In millions	U.S. Pension Benefits		International Pension Benefits		Total Pension Benefits		Postretirement Benefits		Postemployment Benefits
Year
2023	$	105	$	48	$	153	$	2	$	75
2024	$	107	$	51	$	158	$	1	$	17
2025	$	108	$	49	$	157	$	1	$	16
2026	$	109	$	49	$	158	$	1	$	15
2027	$	110	$	49	$	159	$	1	$	15
2028-2032	$	539	$	235	$	774	$	2	$	65

Savings Plans U.S. employees and many international employees participate in defined contribution savings plans. These plans generally provide either a specified percent of pay or a matching contribution on participating employees’ voluntary elections. NCR’s matching contributions typically are subject to a maximum percentage or level of compensation. Employee contributions can be made pre-tax, after-tax or a combination thereof. The expense under the U.S. plan was approximately $37 million in 2022, $31 million in 2021, and $32 million in 2020. The expense under international and subsidiary savings plans was $33 million in 2022, $31 million in 2021, and $25 million in 2020.

Amounts to be Recognized The amounts in Accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost (income) during 2023 are as follows:


In millions	U.S. Pension Benefits		International Pension Benefits		Total Pension Benefits		Postretirement Benefits		Postemployment Benefits
Prior service cost (benefit)	$	—	$	—	$	—	$	—	$	(2)
Actuarial loss (gain)	$	—	$	—	$	—	$	—	$	(3)

COMMITMENTS AND CONTINGENCIES (Notes)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

10. COMMITMENTS AND CONTINGENCIES

In the normal course of business, NCR is subject to various proceedings, lawsuits, claims and other matters, including, for example, those that relate to the environment and health and safety, labor and employment, employee benefits, import/export compliance, patents or other intellectual property, data privacy and security, product liability, commercial disputes and regulatory compliance, among others. Additionally, NCR is subject to diverse and complex laws and regulations, including those relating to corporate governance, public disclosure and reporting, environmental safety and the discharge of materials into the environment, product safety, import and export compliance, data privacy and security, antitrust and competition, government contracting, anti-corruption, and labor and human resources, which are rapidly changing and subject to many possible changes in the future. Compliance with these laws and regulations, including changes in accounting standards, taxation requirements, and federal securities laws among others, may create a substantial burden on, and substantially increase costs to NCR or could have an impact on NCR's future operating results. The Company has reflected all liabilities when a loss is considered probable and reasonably estimable in the Consolidated Financial Statements. We do not believe there is a reasonable possibility that losses exceeding amounts already recognized have been incurred, but there can be no assurances that the amounts required to satisfy alleged liabilities from such matters will not impact future operating results. Other than as stated below, the Company does not currently expect to incur material capital expenditures related to such matters. However, there can be no assurances that the actual amounts required to satisfy alleged liabilities from various lawsuits, claims, legal proceedings and other matters, including, but not limited to the Kalamazoo River environmental matter and other matters discussed below, and to comply with applicable laws and regulations, will not exceed the amounts reflected in NCR’s Consolidated Financial Statements or will not have a material adverse effect on its consolidated results of operations, capital expenditures, competitive position, financial condition or cash flows.

Legal Matters During August 2019, a suit was filed against the Company by Pennsylvania-based CloudofChange LLC alleging willful infringement by NCR for its use of its NCR Silver point-of-sale offering. On October 27, 2022, the court in the Western District of Texas denied the Company's post-trial motion in this matter for judgment as a matter of law or alternatively for a new trial, resulting in a ruling against the Company in an amount of $13 million. The Company remains committed to its position that NCR Silver does not infringe the CloudofChange LLC patents and will vigorously defend its position on appeal. The Company has already engaged experienced appellate counsel and immediately filed its notice of appeal. The Company evaluated the matter in accordance with ASC 450, Contingencies, and concluded that, as of December 31, 2022, a loss of up to $13 million is reasonably possible, but not probable and, therefore, no accrual has been recorded.

Environmental Matters NCR's facilities and operations are subject to a wide range of environmental protection laws, and NCR has investigatory and remedial activities underway at a number of facilities that it currently owns or operates, or formerly owned or operated, to comply, or to determine compliance, with such laws. Also, NCR has been identified, either by a government agency or by a private party seeking contribution to site clean-up costs, as a potentially responsible party (“PRP”) at a number of sites pursuant to various state and federal laws, including the Federal Water Pollution Control Act, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) and comparable state statutes. Other than the Kalamazoo River matter and the Ebina matter discussed below, we currently do not anticipate material expenses and liabilities from these environmental matters.

Fox River NCR was one of eight entities that was formally notified by governmental and other entities that it was a PRP for environmental claims (under CERCLA and other statutes) arising out of the presence of polychlorinated biphenyls (“PCBs”) in sediments in the lower Fox River and in the Bay of Green Bay in Wisconsin. NCR was identified as a PRP because of alleged PCB discharges from two carbonless copy paper manufacturing facilities it previously owned, which were located along the Fox River, and carbonless copy paper “broke” the Company allegedly sold to other mills as raw material. In 2017, the Company entered into a Consent Decree with the federal and state governments for the clean-up of the Fox River, which was approved on August 22, 2017 by the federal district court in Wisconsin presiding over this matter. The Consent Decree resolved the Company’s disputes with the enforcement agencies as well as the other PRPs.

All litigation relating to the contribution and enforcement of remediation obligations on the Fox River has been concluded. On October 3, 2022, the Environmental Protection Agency issued the Company a Certificate of Completion certifying that all of the Company’s remedial obligations under the Consent Decree have been completed.

The cost of the Fox River remediation has been shared with three parties (the previously reported API having fully satisfied its obligations in 2016, and is now bankrupt): B.A.T. Industries p.l.c. (“BAT”) as co-obligor, and AT&T Corp. (“AT&T”) and Nokia (as the successor to Lucent Technologies and Alcatel-Lucent USA) as indemnitors. Under a 1998 Cost Sharing Agreement and subsequent 2005 arbitration award (collectively, the “Cost Sharing Agreement”), from 2008 through 2014, BAT paid 60% of the cost of the Fox River clean-up and natural resource damages (“NRD”). Pursuant to a September 30, 2014 Funding Agreement (the “Funding Agreement”), BAT funded 50% of NCR’s Fox River remediation costs from October 1, 2014 forward; the Funding Agreement also provides NCR contractual avenues for a future payment of, via direct and third-party sources, (1) the difference between BAT’s 60% obligation under the Cost Sharing Agreement on the one hand and their ongoing (since September 2014) 50% payments under the Funding Agreement on the other, as well as (2) the difference between the amount NCR received under the Funding Agreement and the amount owed to it under the Cost Sharing Agreement for the period from April 2012 through September 2014 (collectively, the “Funding Agreement Receivable”). Pursuant to a June 12, 2015 Letter Agreement, NCR's contractual avenue for direct payment by BAT was effectively stayed pending completion of other unrelated lawsuits by BAT against third-parties. As of December 31, 2022 and 2021, the Funding Agreement Receivable was approximately $54 million and was included in Other assets in the Consolidated Balance Sheets. The timing of collection of sums related to the receivable is uncertain, subject and pursuant to the terms of the Funding Agreement and related agreements. This receivable is not taken into account in calculating the Company’s Fox River remaining reserve.

Additionally, under a 1996 Divestiture Agreement, AT&T and Nokia have been responsible severally (not jointly) for indemnifying NCR for certain portions of the amounts paid by NCR for the Fox River matter over a defined threshold and subject to certain offsets for insurance recoveries and net tax benefits (the “Divestiture Agreement Offsets”), if any. (The Divestiture Agreement governs certain aspects of AT&T's divestiture of NCR and of what was then known as Lucent Technologies.) Those companies have made the payments requested of them by the Company on an ongoing basis.

There could be additional changes to some elements of the Company's remaining obligation over upcoming periods, in view of a final reconciliation of the Funding Agreement Receivable and the Divestiture Agreement Offsets. Thus, there can be no assurance that unexpected expenditures and liabilities will not have a material effect on NCR's capital expenditures, earnings, financial condition, cash flows, or competitive position. As of December 31, 2022, we have no remaining liability for remedial obligations for the Fox River matter. As of December 31, 2021, the reserve for the Fox River matter was approximately $4 million. As of December 31, 2022 and 2021, the liability subject to final reconciliation with indemnitors under the Divestiture Agreement was approximately $22 million.

Kalamazoo River In November 2010, The United States Environmental Protection Agency (“USEPA”) issued a “general notice letter” to NCR with respect to the Allied Paper, Inc./Portage Creek/Kalamazoo River Superfund Site (“Kalamazoo River site”) in Michigan. Three other companies - International Paper, Mead Corporation, and Consumers Energy - also received general notice letters at or about the same time. USEPA asserts that the site is contaminated by various substances, primarily PCBs, as a result of discharges by various paper mills located along the river. USEPA does not claim that the Company made direct discharges into the Kalamazoo River, and NCR never had facilities at or near the Kalamazoo River site, but USEPA indicated that “NCR may be liable under Section 107 of CERCLA ... as an arranger, who by contract or agreement, arranged for the disposal, treatment and/or transportation of hazardous substances at the Site.” USEPA stated that it “may issue special notice letters to [NCR] and other PRPs for future RI/FS [remedial investigation / feasibility studies] and RD/RA [remedial design / remedial action] negotiations.”

In connection with the Kalamazoo River site, in December 2010 the Company, along with two other defendants, was sued in federal court by three GP affiliate corporations in a private-party contribution and cost recovery action for alleged pollution. The suit, pending in Michigan, asks that the Company and other defendants pay a “fair portion” of these companies’ costs. Various removal and remedial actions remain to be decided upon and performed at the Kalamazoo River site, the total costs for which generally remain undetermined; in 2017, Records of Decisions were issued for two parts of the river, and in 2018 such a decision was issued for another part of the river, but such decisions for the majority of the work are expected to be made only over the next several years. The suit alleges that the Company is liable to the GP entities as an “arranger” under CERCLA. The initial phase of the case was tried in a Michigan federal court in February 2013; on September 26, 2013 the court issued a decision that held NCR was liable as an “arranger” as of at least March 1969. (PCB-containing carbonless copy paper was produced from approximately 1954 to April 1971, and the majority of contamination at the Kalamazoo River site had occurred prior to 1969). NCR preserved its right to appeal the September 2013 decision.

In the 2013 decision the Court did not determine NCR’s share of the overall liability. Relative shares of liability for the four companies were tried to the court in a subsequent phase of the case in December 2015. In a ruling issued on March 29, 2018, the court addressed responsibility for the costs that GP had incurred in the past, totaling to approximately $50 million (GP had sought approximately $105 million, but $55 million of those claims were removed by the court upon motions filed by the Company and other parties); NCR and GP were each assigned a 40% share of those costs, and the other two companies were assigned 15% and 5% as their allocations. The court entered a judgment in the case on June 19, 2018, in which it indicated that it would not allocate future costs, but would enter a declaratory judgment that the four companies together had responsibility for future costs, in amounts and shares to be determined. Cross-proceedings have been commenced to obtain recoveries from the other parties pursuant to the judgment; those proceedings were stayed pending the appeal referenced below.

In July 2018, the Company appealed to the United States Court of Appeals for the Sixth Circuit both the 2013 court decision, which it believes is in conflict with a decision from the Fox River trial court as to Operable Unit 1 of that site and an affirmance of that decision from the Court of Appeals for the Seventh Circuit, and the 2018 court decision, on various legal grounds. The Company filed a bond to stay any execution of the judgment pending the appeal, and its application for a stay was approved by the court and remains stayed until the Company filed its dismissal of the appeal on December 31, 2020 pursuant to a Consent Decree, noted below.

During the pendency of the Sixth Circuit stay, the Company negotiated a settlement of the Kalamazoo River matter with the USEPA and other government agencies having oversight over the river. On December 5, 2019, the Company entered into a Consent Decree, filed with the District Court on December 11, 2019, and on December 2, 2020, the District Court approved the Consent Decree, which has now resolved all litigation associated with the river clean-up, including the Sixth Circuit appeal. The Consent Decree requires the Company to pay GP its 40% share of past costs, to pay the USEPA and state agencies their past and future administrative costs, and to dismiss its Sixth Circuit appeal. The Consent Decree further requires the Company to take responsibility for the remediation of a portion, but not all, of the Kalamazoo River. The Consent Decree further provides the Company protection from other PRPs, including GP, seeking contribution for their costs associated with the clean-up anywhere on the river, thereby resolving the allocation of future costs left unresolved by the June 19, 2019 judgment.

The Company believes it has meritorious claims against BAT under the Cost Sharing Agreement, discussed above, for the Kalamazoo River remediation expenses as a so-called “future site.” To date, BAT has denied that the Kalamazoo River is a “future site.” On February 10, 2023, the Company filed an action against BAT in the Southern District of New York seeking a declaration that the Kalamazoo River is indeed a future site under the Cost Sharing Agreement. The Company will also have indemnity or reimbursement claims against AT&T and Nokia under the arrangement discussed above in connection with the Fox River matter after expenses have met a contractual threshold set out in the 1996 Divestiture Agreement referenced above in the Fox River discussion. The Company believes that contractual threshold was, or was nearly, met in December 2022.

As of December 31, 2022 and 2021, the total reserve for Kalamazoo was $90 million and $99 million, respectively. The reserve is reported on a basis that is net of expected contributions from the Company's co-obligors and indemnitors, subject to when the applicable threshold is reached. While the Company believes its co-obligors' and indemnitors' obligations are as previously reported, the reserve reflects changes in positions taken by some of those co-obligors and indemnitors with respect to the Kalamazoo River. The contributions from its co-obligors and indemnitors are expected to range from $70 million to $155 million and the Company will continue to pursue such contribution.

As many aspects of the costs of remediation will not be determined for several years (and thus the high end of a range of possible costs for many areas of the site cannot be quantified at this time), the Company has made what it considers to be reasonable estimates of the low end of a range for such costs where remedies are identified, and/or of the costs of investigations and studies for areas of the river where remedies have not yet been determined, and the reserve is informed by those estimates. The extent of NCR’s potential liability remains subject to many uncertainties, notwithstanding the settlement of this matter and related Consent Decree noted above, particularly in as much as remedy decisions and cost estimates will not be generated until times in the future and as most of the work to be performed will take place through the 2030s. Under other assumptions or estimates for possible costs of remediation, which the Company does not at this point consider to be reasonably estimable or verifiable, it is possible that the reserve the Company has taken to discontinued operations reflected in this paragraph could more than approximately double the reflected reserve.

Ebina The Company is engaged in cooperative regulatory compliance activities with the government of Japan in connection with certain environmental contaminants generated in its past operations in that country. The Company has quantities of PCB and other wastes primarily from its former plant at Oiso, Japan, including capsulated undiluted solutions manufactured in the past, capacitors, light ballasts and PCB-affected soil from the Oiso plant that was excavated and placed in steel drums. These wastes are stored in a facility at Ebina, Japan in accordance with Japanese regulations governing such materials. Over the past

several years Japan has enacted and amended legislation governing such wastes, and has set a current deadline for treating and disposing of (at government-constructed disposal facilities) the highest-concentration wastes by 2027. Lower-concentration wastes can be and have been disposed of via private contractors, and as of December 31, 2022, NCR had disposed of approximately 96% of its lower-concentration wastes and approximately 62% of its higher-concentration wastes.

The Company and its consultants have met and communicated regularly with the Japanese agency charged with administration of the law, and are working with that agency on a program to manage disposal of the high-concentration wastes, including tests of technologies to make the disposal more efficient. The government has given its final approvals, and the Company started to dispose of the high-concentration wastes in 2021, with final deadlines for various of the government-constructed disposal sites currently set for 2022, 2023 and later. Low-concentration wastes are required to be contracted for disposal by 2027, a timetable that the Company expects to meet. In September 2019, the Company’s environmental consultants, following a series of communications and meetings with the Japanese agency, at the Company’s request prepared an estimate of remaining disposal costs over the coming several years. While the estimate is subject to a range of assumptions and uncertainties, including prospects of cost reduction in coordination with the agency as certain field testing to separate high-concentration and low-concentration waste progresses over the coming years, the Company adjusted its existing reserve for the matter to take into account this cost estimate. The reserve as of December 31, 2022 and 2021 is $7 million and $16 million, respectively. The Japan environmental waste issue is treated as a compliance matter and not as litigation or enforcement, and the Company has received no threats of litigation or enforcement.

Environmental-Related Insurance Recoveries In connection with the Fox River and other environmental sites, through December 31, 2022, NCR has received a combined gross total of approximately $212 million in settlements reached with various of its insurance carriers. Portions of many of these settlements agreed in the 2010 through 2013 timeframe are payable to a law firm that litigated the claims on the Company's behalf. Some of the settlements cover not only the Fox River but also other environmental sites; some are limited to either the Fox River or the Kalamazoo River site. Some of the settlements are directed to defense costs and some are directed to indemnity; some settlements cover both defense costs and indemnity. The Company does not anticipate that further material insurance recoveries specific to Kalamazoo River remediation costs will be available to it, but it has recovered some amounts as a result of settlement discussions with certain carriers. In December 2021, the Company recovered approximately $3 million as a result of those discussions and, as of December 31, 2022, has recovered an additional $7 million. Claims with respect to Kalamazoo River defense costs have now been settled, with the amounts of those settlements included in the sum reported above.

Environmental Remediation Estimates It is difficult to estimate the future financial impact of environmental laws, including potential liabilities. NCR records environmental provisions when it is probable that a liability has been incurred and the amount or range of the liability is reasonably estimable; in accordance with accounting guidance, where liabilities are not expected to be quantifiable or estimable for a period of years, the estimated costs of investigating those liabilities are recorded as a component of the reserve for that particular site. Provisions for estimated losses from environmental restoration and remediation are, depending on the site, based generally on internal and third-party environmental studies, estimates as to the number and participation level of other PRPs, the extent of contamination, estimated amounts for attorney and other fees, and the nature of required clean-up and restoration actions. Reserves are adjusted as further information develops or circumstances change. Management expects that the amounts reserved from time to time will be paid out over the period of investigation, negotiation, remediation and restoration for the applicable sites. The amounts provided for environmental matters in NCR's Consolidated Financial Statements are the estimated gross undiscounted amounts of such liabilities, without deductions for indemnity insurance, third-party indemnity claims or recoveries from other PRPs, except as qualified in the following sentences. In those cases where insurance carriers or third-party indemnitors have agreed to pay any amounts and management believes that collectability of such amounts is probable, the amounts are recorded in the Consolidated Financial Statements. For the Fox River and Kalamazoo River sites, as described above, assets relating to the AT&T and Nokia indemnities and to the BAT obligations are recorded as payment is supported by contractual agreements, public filings and/or payment history.

Guarantees and Product Warranties In the ordinary course of business, NCR may issue performance guarantees on behalf of its subsidiaries to certain of its customers and other parties. Some of those guarantees may be backed by standby letters of credit, surety bonds, or similar instruments. In general, under the guarantees, NCR would be obligated to perform, or cause performance, over the term of the underlying contract in the event of an unexcused, uncured breach by its subsidiary, or some other specified triggering event, in each case as defined by the applicable guarantee. NCR believes the likelihood of having to perform under any such guarantee is remote. As of December 31, 2022 and 2021, NCR had no material obligations related to such guarantees, and therefore its Consolidated Financial Statements do not have any associated liability balance.

NCR provides its customers a standard manufacturer’s warranty and records, at the time of the sale, a corresponding estimated liability for potential warranty costs. Estimated future obligations due to warranty claims are based upon historical factors, such

as labor rates, average repair time, travel time, number of service calls per machine and cost of replacement parts. When a sale is consummated, the total customer revenue is recognized, provided that all revenue recognition criteria are otherwise satisfied, and the associated warranty liability is recorded using pre-established warranty percentages for the respective product classes.

From time to time, product design or quality corrections are accomplished through modification programs. When identified, associated costs of labor and parts for such programs are estimated and accrued as part of the warranty reserve.

The Company recorded the activity related to the warranty reserve for the years ended December 31 as follows:


In millions	2022		2021		2020
Warranty reserve liability
Beginning balance as of January 1	$	19	$	18	$	21
Accruals for warranties issued	25		28		30
Settlements (in cash or in kind)	(31)		(27)		(33)
Ending balance as of December 31	$	13	$	19	$	18

In addition, NCR provides its customers with certain indemnification rights. In general, NCR agrees to indemnify the customer if a third party asserts patent or other infringement on the part of its customers for its use of the Company’s products subject to certain conditions that are generally standard within the Company’s industries. On limited occasions the Company will undertake additional indemnification obligations for business reasons. From time to time, NCR also enters into agreements in connection with its acquisition and divestiture activities that include indemnification obligations by the Company. The fair value of these indemnification obligations is not readily determinable due to the conditional nature of the Company’s potential obligations and the specific facts and circumstances involved with each particular agreement. The Company has not recorded a liability in connection with these indemnifications, and no current indemnification instance is material to the Company’s financial position. Historically, payments made by the Company under these types of agreements have not had a material effect on the Company’s consolidated financial condition, results of operations or cash flows.

Purchase Commitments The Company has purchase commitments for materials, supplies, services, and property, plant and equipment as part of the normal course of business. This includes a long-term service agreement with Accenture, under which many of NCR's key transaction processing activities and functions are performed.

LEASING (Notes)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

LEASING

11. LEASING

The following table presents our lease balances as of December 31:


In millions	Location in the Consolidated Balance Sheet	December 31, 2022		December 31, 2021
Assets
Operating lease assets	Operating lease assets	$	371	$	419
Finance lease assets	Property, plant and equipment, net	61		62
Accumulated Amortization of Finance lease assets	Property, plant and equipment, net	(50)		(35)
Total leased assets		$	382	$	446
Liabilities
Current
Operating lease liabilities	Other current liabilities	$	79	$	97
Finance lease liabilities	Other current liabilities	10		16
Noncurrent
Operating lease liabilities	Operating lease liabilities	353		388
Finance lease liabilities	Other liabilities	3		13
Total lease liabilities		$	445	$	514

The following table presents our lease costs for operating and finance leases:


In millions	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Operating lease cost	$	116	$	131	$	125
Finance lease cost
Amortization of leased assets	15		17		13
Interest on lease liabilities	1		1		1
Short-Term lease cost	3		3		5
Variable lease cost	24		24		27
Total lease cost	$	159	$	176	$	171

The following table presents the supplemental cash flow information:


In millions	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	120	$	133	$	128
Operating cash flows from finance leases	$	1	$	1	$	2
Financing cash flows from finance leases	$	15	$	17	$	13
Lease Assets Obtained in Exchange for Lease Obligations
Operating Leases	$	21	$	163	$	31
Finance Leases	$	—	$	2	$	15

The following table reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the Consolidated Balance Sheet as of December 31, 2022:


In millions	Operating Leases		Finance Leases
2023	$	102	$	10
2024	77		3
2025	60		—
2026	49		—
2027	45		—
Thereafter	215		—
Total lease payments	548		13
Less: Amount representing interest	116		—
Present value of lease liabilities	$	432	$	13

As of December 31, 2022, all material operating leases had commenced.

The following table presents the weighted average remaining lease term and interest rates:


	December 31, 2022		December 31, 2021
Weighted average lease term:
Operating leases	7.9 years		8.4 years
Finance leases	1.2 years		2.0 years
Weighted average interest rates:
Operating leases	5.79	%	5.70	%
Finance leases	3.56	%	3.78	%

LEASING

11. LEASING

The following table presents our lease balances as of December 31:


In millions	Location in the Consolidated Balance Sheet	December 31, 2022		December 31, 2021
Assets
Operating lease assets	Operating lease assets	$	371	$	419
Finance lease assets	Property, plant and equipment, net	61		62
Accumulated Amortization of Finance lease assets	Property, plant and equipment, net	(50)		(35)
Total leased assets		$	382	$	446
Liabilities
Current
Operating lease liabilities	Other current liabilities	$	79	$	97
Finance lease liabilities	Other current liabilities	10		16
Noncurrent
Operating lease liabilities	Operating lease liabilities	353		388
Finance lease liabilities	Other liabilities	3		13
Total lease liabilities		$	445	$	514

The following table presents our lease costs for operating and finance leases:


In millions	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Operating lease cost	$	116	$	131	$	125
Finance lease cost
Amortization of leased assets	15		17		13
Interest on lease liabilities	1		1		1
Short-Term lease cost	3		3		5
Variable lease cost	24		24		27
Total lease cost	$	159	$	176	$	171

The following table presents the supplemental cash flow information:


In millions	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	120	$	133	$	128
Operating cash flows from finance leases	$	1	$	1	$	2
Financing cash flows from finance leases	$	15	$	17	$	13
Lease Assets Obtained in Exchange for Lease Obligations
Operating Leases	$	21	$	163	$	31
Finance Leases	$	—	$	2	$	15


In millions	Operating Leases		Finance Leases
2023	$	102	$	10
2024	77		3
2025	60		—
2026	49		—
2027	45		—
Thereafter	215		—
Total lease payments	548		13
Less: Amount representing interest	116		—
Present value of lease liabilities	$	432	$	13

As of December 31, 2022, all material operating leases had commenced.

The following table presents the weighted average remaining lease term and interest rates:


	December 31, 2022		December 31, 2021
Weighted average lease term:
Operating leases	7.9 years		8.4 years
Finance leases	1.2 years		2.0 years
Weighted average interest rates:
Operating leases	5.79	%	5.70	%
Finance leases	3.56	%	3.78	%

SERIES A PREFERRED STOCK (Notes)	12 Months Ended
SERIES A PREFERRED STOCK (Notes)	Dec. 31, 2022
Equity [Abstract]
SERIES A PREFERRED STOCK	12. SERIES A PREFERRED STOCK On December 4, 2015, NCR issued 820,000 shares of Series A Convertible Preferred Stock to certain entities affiliated with the Blackstone Group L.P. (collectively, "Blackstone") for an aggregate purchase price of $820 million, or $1,000 per share, pursuant to an Investment Agreement between the Company and Blackstone, dated November 11, 2015. In connection with the issuance of the Series A Convertible Preferred Stock, the Company incurred direct and incremental expenses of $26 million, including financial advisory fees, closing costs, legal expenses and other offering-related expenses. These direct and incremental expenses originally reduced the Series A Convertible Preferred Stock, and will be accreted through retained earnings as a deemed dividend from the date of issuance through the first possible known redemption date, March 16, 2024. In 2017, in connection with the early release of the lock-up included in the Investment Agreement, Blackstone offered for sale 342,000 shares of Series A Convertible Preferred Stock in an underwritten public offering. In addition, Blackstone converted 90,000 shares of Series A Convertible Preferred Stock into shares of our common stock and we repurchased those shares of common stock for $48.47 per share. The underwritten offering and the stock repurchase were consummated on March 17, 2017. On September 18, 2019, NCR entered into an agreement to repurchase and convert the outstanding 512,221 shares of Series A Convertible Preferred Stock owned by Blackstone. NCR repurchased 237,673 shares of Series A Convertible Preferred Stock for total cash consideration of $302 million. The remaining shares of Blackstone's Series A Convertible Preferred Stock, including accrued dividends, were converted to approximately 9.2 million shares of common stock at a conversion price of $30.00 per share. For the repurchase of Series A Convertible Preferred Stock, the excess of the fair value of consideration transferred over the carrying value was approximately $67 million, and has been included as a deemed dividend in adjusting the income from common stockholders in calculating earnings per share. In this analysis, we determined the fair value of the consideration transferred was not in excess of the fair value of the redeemed Series A Convertible Preferred Stock. As a result, there was no inducement provided to Blackstone for the conversion of the remaining preferred shares into common stock. On October 6, 2020, NCR entered into a definitive agreement to repurchase 67,000 shares of Series A Convertible Preferred Stock from two affiliated shareholders for a total cash consideration of $72 million. The transaction closed on October 7, 2020. On October 12, 2020, NCR entered into a definitive agreement to repurchase 65,365 shares of Series A Convertible Preferred Stock owned by two affiliated shareholders for a total cash consideration of $72 million. The transaction closed on October 13, 2020. The excess of the fair value of consideration transferred over the carrying value was approximately $12 million, and has been included as a deemed dividend in adjusting the income from common stockholders in calculating earnings per share. Dividend Rights The Series A Convertible Preferred Stock ranks senior to the shares of the Company’s common stock, with respect to dividend rights and rights on the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company. The Series A Convertible Preferred Stock has a liquidation preference of $1,000 per share. Holders of Series A Convertible Preferred Stock are entitled to a cumulative dividend at the rate of 5.5% per annum, which was payable quarterly in arrears. Beginning in the first quarter of 2020, dividends are payable in cash or in-kind at the option of the Company. If the Company does not declare and pay a dividend, the dividend rate will increase to 8.0% per annum until all accrued but unpaid dividends have been paid in full. During the years ended December 31, 2022 and 2021, the Company did not pay dividends-in-kind associated with the Series A Convertible Preferred Stock. During the year ended December 31 2020, the Company paid dividends-in-kind of $10 million associated with the Series A Convertible Preferred Stock. Cash dividends of $15 million were declared during the years ended December 31, 2022 and 2021, and $9 million during the year ended December 31, 2020. Conversion Features The Series A Convertible Preferred Stock is convertible at the option of the holders at any time into shares of common stock at a conversion price of $30.00 per share or a conversion rate of 33.333 shares of common stock per share of Series A Convertible Preferred Stock. As of December 31, 2022 and 2021, the maximum number of common shares that could be required to be issued upon conversion of the outstanding shares of Series A Convertible Preferred Stock was 9.2 million shares. The conversion rate is subject to the following customary anti-dilution and other adjustments: •the issuance of common stock as a dividend or the subdivision, combination, or reclassification of common stock into a greater or lesser number of shares of common stock; •the dividend, distribution or other issuance of rights, options or warrants to holders of Common Stock entitling them to subscribe for or purchase shares of common stock at a price per share that is less than the volume-weighted average price per share of common stock; •the completion of a tender offer or exchange offer of shares of common stock at a premium to the volume-weighted average price per share of common stock and certain other above-market purchases of common stock; •the issuance of a dividend or similar distribution in-kind, which can include shares of any class of capital stock, evidences of the Company's indebtedness, assets or other property or securities, to holders of common stock; •a transaction in which a subsidiary of the Company ceases to be a subsidiary of the Company as a result of the distribution of the equity interests of the subsidiary to the holders of the Company’s common stock; and •the payment of a cash dividend to the holders of common stock. At any time after December 4, 2018, all outstanding shares of Series A Convertible Preferred Stock are convertible at the option of the Company if the volume-weighted average price of the common stock exceeds $54.00 for at least 30 trading days in any period of 45 consecutive trading days. The $54.00 may be adjusted pursuant to the anti-dilution provisions above. The Series A Convertible Preferred Stock, and the associated dividends for the first sixteen payments, did not generate a beneficial conversion feature ("BCF") upon issuance as the fair value of the Company's common stock was greater than the conversion price. The Company will determine and, if required, measure a BCF based on the fair value of our stock price on the date dividends are declared subsequent to the sixteenth dividend. If a BCF is recognized, a reduction to retained earnings and the Series A Convertible Preferred Stock will be recorded, and then subsequently accreted through the first redemption date. Additionally, the Company determined that the nature of the Series A Convertible Preferred Stock was more akin to an equity instrument and that the economic characteristics and risks of the embedded conversion options were clearly and closely related to the Series A Convertible Preferred Stock. As such, the conversion options were not required to be bifurcated from the host under ASC 815, Derivatives and Hedging. Redemption Rights On any date during the three months commencing on and immediately following March 16, 2024 and the three months commencing on and immediately following every third anniversary of March 16, 2024, holders of Series A Convertible Preferred Stock have the right to require the Company to repurchase all or any portion of the Series A Convertible Preferred Stock at 100% of the liquidation preference thereof plus all accrued but unpaid dividends. Upon certain change of control events involving the Company, holders of Series A Convertible Preferred Stock can require the Company to repurchase, subject to certain exceptions, all or any portion of the Series A Convertible Preferred Stock at the greater of (1) an amount in cash equal to 100% of the liquidation preference thereof plus all accrued but unpaid dividends and (2) the consideration the holders would have received if they had converted their shares of Series A Convertible Preferred Stock into common stock immediately prior to the change of control event. The Company has the right, upon certain change of control events involving the Company, to redeem the Series A Convertible Preferred Stock at the greater of (1) an amount in cash equal to the sum of the liquidation preference of the Series A Convertible Preferred Stock, all accrued but unpaid dividends and the present value, discounted at a rate of 10%, of any remaining scheduled dividends through the fifth anniversary of the first dividend payment date, assuming the Company chose to pay such dividends in cash (the “make-whole provision”) and (2) the consideration the holders would have received if they had converted their shares of Series A Convertible Preferred Stock into common stock immediately prior to the change of control event. Since the redemption of the Series A Convertible Preferred Stock is contingently or optionally redeemable and therefore not certain to occur, the Series A Convertible Preferred Stock is not required to be classified as a liability under ASC 480, Distinguishing Liabilities from Equity. As the Series A Convertible Preferred Stock is redeemable in certain circumstances at the option of the holder and is redeemable in certain circumstances upon the occurrence of an event that is not solely within our control, we have classified the Series A Convertible Preferred Stock in mezzanine equity in the Consolidated Balance Sheets. As noted above, the Company determined that the nature of the Series A Convertible Preferred Stock was more akin to an equity instrument. However, the Company determined that the economic characteristics and risks of the embedded put options, call option and make-whole provision were not clearly and closely related to the Series A Convertible Preferred Stock. Therefore, the Company assessed the put and call options further, and determined they did not meet the definition of a derivative under ASC 815, Derivatives and Hedging. Under the same analysis, the Company determined the make-whole provision did meet the definition of a derivative, but that the value of the derivative was minimal due to the expectations surrounding the scenarios under which the call option and make-whole provision would be exercised. Voting Rights Holders of Series A Convertible Preferred Stock are entitled to vote with the holders of the common stock on an as-converted basis. Holders of Series A Convertible Preferred Stock are entitled to a separate class vote with respect to amendments to the Company’s organizational documents that have an adverse effect on the Series A Convertible Preferred Stock and issuances by the Company of securities that are senior to, or equal in priority with, the Series A Convertible Preferred Stock

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE

13. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is calculated by dividing net income or loss attributable to NCR, less any dividends (declared or cumulative undeclared), deemed dividends, accretion or decretion, redemption or induced conversion on our Series A Convertible Preferred Stock, by the weighted average number of shares outstanding during the period.

In computing diluted EPS, we evaluate and reflect the maximum potential dilution, for each issue or series of issues of potential common shares in sequence from the most dilutive to the least dilutive. We adjust the numerator used in the basic EPS computation, subject to anti-dilution requirements, to add back the dividends (declared or cumulative undeclared) applicable to the Series A Convertible Preferred Stock. Such add-back would also include any adjustments to equity in the period to accrete the Series A Convertible Preferred Stock to its redemption price, or recorded upon a redemption or induced conversion. We adjust the denominator used in the basic EPS computation, subject to anti-dilution requirements, to include the dilution from potential shares resulting from the issuance of the Series A Convertible Preferred Stock, restricted stock units, and stock options.

The holders of Series A Convertible Preferred Stock, unvested restricted stock units and stock options do not have non-forfeitable rights to common stock dividends or common stock dividend equivalents. Accordingly, the Series A Convertible Preferred Stock, unvested restricted stock units and stock options do not qualify as participating securities. See Note 8, “Stock Compensation Plans”, for share information on NCR’s stock compensation plans.

The components of basic earnings (loss) per share are as follows:


In millions, except per share amounts	Year ended December 31
	2022		2021		2020
Numerator:
Income (loss) from continuing operations	$	64	$	97	$	(7)
Series A convertible preferred stock dividends	(16)		(16)		(31)
Net income (loss) from continuing operations attributable to NCR common stockholders	48		81		(38)
Loss from discontinued operations, net of tax	(4)		—		(72)
Net income (loss) attributable to NCR common stockholders	$	44	$	81	$	(110)

Denominator:
Basic weighted average number of shares outstanding	136.7		131.2		128.4

Basic earnings (loss) per share:
From continuing operations	$	0.35	$	0.62	$	(0.30)
From discontinued operations	(0.03)		—		(0.56)
Total basic earnings per share	$	0.32	$	0.62	$	(0.86)

The components of diluted earnings (loss) per share are as follows:


In millions, except per share amounts	Year ended December 31
	2022		2021		2020
Numerator:
Income (loss) from continuing operations	$	64	$	97	$	(7)
Series A convertible preferred stock dividends	(16)		(16)		(31)
Net income (loss) from continuing operations attributable to NCR common stockholders	48		81		(38)
Loss from discontinued operations, net of tax	(4)		—		(72)
Net income (loss) attributable to NCR common stockholders	$	44	$	81	$	(110)

Denominator:
Basic weighted average number of shares outstanding	136.7		131.2		128.4
Dilutive effect of as-if Series A Convertible Preferred Stock	—		—		—
Dilutive effect of employee stock options and restricted stock units	4.5		7.8		—
Weighted average diluted shares	141.2		139.0		128.4

Diluted earnings (loss) per share:
From continuing operations	$	0.34	$	0.58	$	(0.30)
From discontinued operations	(0.03)		—		(0.56)
Total diluted earnings per share	$	0.31	$	0.58	$	(0.86)

For 2022, the weighted average outstanding shares of common stock were not adjusted by 9.2 million for the as-if converted Series A Convertible Preferred Stock because the effect would be anti-dilutive. Additionally, for 2022, weighted average restricted stock units and stock options of 6.5 million were excluded from the diluted share count because their effect would have been anti-dilutive.

For 2021, the weighted average outstanding shares of common stock were not adjusted by 9.2 million for the as-if converted Series A Convertible Preferred Stock because the effect would be anti-dilutive. Additionally, for 2021, weighted average restricted stock units and stock options of 4.7 million were excluded from the diluted share count because their effect would have been anti-dilutive.

For 2020, due to the net loss attributable to NCR common stockholders, potential common shares that would cause dilution, such as Series A Convertible Preferred Stock, restricted stock units and stock options, were excluded from the diluted share count because their effect would have been anti-dilutive. The weighted average outstanding shares of common stock were not adjusted by 9.1 million for the as-if converted Series A Convertible Preferred Stock because the effect would have been anti-dilutive. Additionally, for 2020, weighted average restricted stock units and stock options of 11.2 million were excluded from the diluted share count because their effect would have been anti-dilutive. Refer to Note 12, “Series A Convertible Preferred Stock”, for additional discussion related to the transaction impacting the Series A Convertible Preferred Stock.

DERIVATIVES AND HEDGING INSTRUMENTS

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES AND HEDGING INSTRUMENTS

14. DERIVATIVES AND HEDGING INSTRUMENTS

NCR is exposed to certain risks arising from both our business operations and economic conditions. We principally manage exposures to a wide variety of business and operational risk through management of core business activities. We manage interest rate risk associated with our vault cash rental obligations and floating rate-debt by managing the amount, sources, and duration of debt funding and the use of derivative financial instruments. The Company uses interest rate cap agreements or interest rate swap contracts (“Interest Rate Derivatives”) to manage differences in the amount, timing and duration of known or expected cash payments related to our existing TLA Facility and vault cash agreements.

Further, a substantial portion of our operations and revenue occur outside the United States and, as such, NCR has exposure to approximately 45 functional currencies. Our results can be significantly impacted, both positively and negatively, by changes in foreign currency exchange rates. The Company seeks to mitigate such impact by hedging its foreign currency transaction exposure using foreign currency forward and option contracts. We do not enter into hedges for speculative purposes.

Foreign Currency Exchange Risk The accounting guidance for derivatives and hedging requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the Consolidated Balance Sheets. The Company designates foreign exchange contracts as cash flow hedges of forecasted transactions when they are determined to be highly effective at inception.

Our risk management strategy includes hedging, on behalf of certain subsidiaries, a portion of our forecasted, non-functional currency denominated cash flows for a period of up to 15 months. As a result, some of the impact of currency fluctuations on non-functional currency denominated transactions (and hence on subsidiary operating income, as stated in the functional currency), is mitigated in the near term. In the longer term (greater than 15 months), the subsidiaries are still subject to the effect of translating the functional currency results to United States Dollars. To manage our exposures and mitigate the impact of currency fluctuations on the operations of our foreign subsidiaries, we hedge our main transactional exposures through the use of foreign exchange forward and option contracts. This is primarily done through the hedging of foreign currency denominated inter-company inventory purchases by NCR’s marketing units and the foreign currency denominated inputs to our manufacturing units. If the hedge is designated as a highly effective cash flow hedge, the gains or losses are deferred into accumulated other comprehensive income (“AOCI”). The gains or losses from derivative contracts that are designated as highly effective cash flow hedges related to inventory purchases are recorded in cost of products when the inventory is sold to an unrelated third party. Otherwise, they are recorded in earnings when the exchange rates change. As of December 31, 2022, the balance in AOCI related to foreign exchange derivative transactions was zero.

We also utilize foreign exchange contracts to hedge our exposure of assets and liabilities denominated in non-functional currencies. We recognize the gains and losses on these types of hedges in earnings as exchange rates change.

Interest Rate Risk The Company designates Interest Rate Derivative contracts as cash flow hedges of forecasted transactions when they are determined to be highly effective at inception.

We utilize interest rate swap contracts or interest rate cap agreements to add stability to interest cost and to manage exposure to interest rate movements as part of our interest rate risk management strategy. Payments and receipts related to Interest Rate Derivatives are included in cash flows from operating activities in the Consolidated Statements of Cash Flows.

In January 2022, the Company executed a $250 million notional amount interest rate swap contract originally terminating on January 1, 2025. The interest rate swap contract had a fixed rate of 1.43% and was designated as a cash flow hedge of floating interest rate cost associated with the Company's U.S. Dollar vault cash agreements.

In March 2022, the Company terminated the outstanding $2 billion notional amount interest rate cap agreements maturing in 2024 for proceeds of $64 million. The gains will be recognized ratably through July 1, 2024, corresponding to the term of the original interest rate cap agreements.

In March 2022, the Company executed $2.2 billion aggregate notional amount interest rate swap contracts that began April 1, 2022 and had an original termination date of April 1, 2025. These interest rate swap contracts had fixed rates ranging from 2.078% to 2.443%, and were designated as cash flow hedges of the floating rate interest associated with the Company’s U.S. Dollar and U.K. Pound Sterling vault cash agreements and TLA Facility.

In June 2022, the Company terminated the outstanding $2.4 billion aggregate notional interest rate swap contracts maturing in 2025 for proceeds of $55 million. The gains will be recognized ratably primarily through April 1, 2025, corresponding to the term of the original interest rate swap agreements.

In June 2022, the Company executed $2.4 billion aggregate notional amount interest rate swap contracts effective June 1, 2022 and terminating on April 1, 2025. These interest rate swap contracts have fixed rates ranging from 2.790% to 3.251%, and have been designated as cash flow hedges of the floating rate interest associated with the Company's U.S. Dollar and U.K. Pound Sterling vault cash agreements.

At December 31, 2022, each of our outstanding Interest Rate Derivative agreements were determined to be highly effective. Amounts reported in Accumulated other comprehensive income related to these derivatives will be reclassified to Cost of services as payments are made on the Company’s vault cash rental obligations. Unrealized gains on terminated interest rate swap and cap agreements reported in Accumulated other comprehensive income will be reclassified to Interest expense and Cost of services ratably over terms corresponding to the original agreements, as described above. As of December 31, 2022 and December 31, 2021, the balance in AOCI related to Interest Rate Derivatives was $109 million and $8 million, respectively.

The following tables provide information on the location and amounts of derivative fair values in the Consolidated Balance Sheets:


	Fair Values of Derivative Instruments
	December 31, 2022
In millions	Balance Sheet Location	Notional Amount		Fair Value		Balance Sheet Location	Notional Amount		Fair Value
Derivatives designated as hedging instruments
Interest rate swap contracts	Prepaid and other current assets			$	36	Other current liabilities			$	—
Interest rate swap contracts	Other assets			27		Other liabilities
Total derivatives designated as hedging instruments		$2,423		$	63		$	—	$	—
Derivatives not designated as hedging instruments
Foreign exchange contracts	Prepaid and other current assets			$	1	Other current liabilities			$	(2)
Total derivatives not designated as hedging instruments		$	376	$	1		$	373	$	(2)
Total derivatives				$	64				$	(2)

	Fair Values of Derivative Instruments
	December 31, 2021
In millions	Balance Sheet Location	Notional Amount		Fair Value		Balance Sheet Location	Notional Amount		Fair Value
Derivatives designated as hedging instruments

Interest rate contracts	Other assets			$	18	Other liabilities			$	—
Total derivatives designated as hedging instruments		$	2,000	$	18		$	—	$	—
Derivatives not designated as hedging instruments
Foreign exchange contracts	Prepaid and other current assets			$	1	Other current liabilities			$	1
Total derivatives not designated as hedging instruments		$	278	$	1		$	396	$	1
Total derivatives				$	19				$	1

The effects of derivative instruments on the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income for the years ended December 31, 2022, 2021, and 2020 were as follows:













In millions	Amount of Gain (Loss) Recognized in Other Comprehensive Income (OCI) on Derivative							Amount of (Gain) Loss Reclassified from AOCI into the Consolidated Statements of Operations
Derivatives in Cash Flow Hedging Relationships	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020		Location of (Gain) Loss Reclassified from AOCI into the Consolidated Statements of Operations	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Interest rate contracts	$	116	$	5	$	—	Cost of services	$	(8)	$	1	$	—
Interest rate contracts	$	36	$	4	$	—	Interest expense	$	(10)	$	—	$	—

Foreign exchange contracts	$	—	$	—	$	(8)	Cost of products	$	—	$	—	$	7


In millions		Amount of Gain (Loss) Recognized in the Consolidated Statements of Operations
Derivatives not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in the Consolidated Statements of Operations	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Foreign exchange contracts	Other income (expense), net	$	(31)	$	(24)	$	22

The following tables show the impact of the Company's cash flow hedge accounting relationships on the Consolidated Statement of Operations for the years ended December 31, 2022, 2021, and 2020.


	Location and Amount of (Gain) Loss Recognized in Income on Cash Flow Hedging Relationships for the years ended December 31:
In millions	Cost of Services						Cost of Products						Interest Expense
	2022		2021		2020		2022		2021		2020		2022		2021		2020
Total amount of expense presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded	$	3,889	$	3,413	$	2,950	$	2,097	$	1,850	$	1,733	$	285	$	238	$	218

Amount of (gain) loss reclassified from Accumulated other comprehensive loss, net of expense	$	(8)	$	1	$	—	$	—	$	—	$	7	$	(10)	$	—	$	—

As of December 31, 2022 the Company expects to reclassify $45 million of net derivative-related gains contained in Accumulated other comprehensive loss into earnings during the next twelve months.

Refer to Note 15, “Fair Value of Assets and Liabilities”, for further information on derivative assets and liabilities recorded at fair value on a recurring basis.

Concentration of Credit Risk

NCR is potentially subject to concentrations of credit risk on accounts receivable and financial instruments such as hedging instruments and cash and cash equivalents. Credit risk includes the risk of nonperformance by counterparties. The maximum potential loss may exceed the amount recognized on the Consolidated Balance Sheets. Exposure to credit risk is managed through credit approvals, credit limits, selecting major international financial institutions as counterparties to hedging transactions and monitoring procedures. NCR’s business often involves large transactions with customers, and if one or more of those customers were to default on its obligations under applicable contractual arrangements, the Company could be exposed to potentially significant losses. However, management believes that the reserves for potential losses are adequate. As of December 31, 2022 and 2021, NCR did not have any major concentration of credit risk related to financial instruments.

FAIR VALUE OF ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE OF ASSETS AND LIABILITIES

15. FAIR VALUE OF ASSETS AND LIABILITIES

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities recorded at fair value on a recurring basis as of December 31, 2022 and 2021 are set forth as follows:


			December 31, 2022						December 31, 2021
			Fair Value Measurements Using						Fair Value Measurements Using
In millions	December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Deposits held in money market mutual funds (1)	$	16	$	16	$	—	$	—	$	17	$	17	$	—	$	—

Foreign exchange contracts (2)	1		—		1		—		1		—		1		—
Interest rate swap and cap agreements (3)	63		—		63		—		18		—		18		—
Total	$	80	$	16	$	64	$	—	$	36	$	17	$	19	$	—
Liabilities:
Foreign exchange contracts (4)	2		—		2		—		1		—		1		—
Total	$	2	$	—	$	2	$	—	$	1	$	—	$	1	$	—

(1) Included in Cash and cash equivalents in the Consolidated Balance Sheets.

(2) Included in Prepaid and other current assets in the Consolidated Balance Sheets.

(3) Included in Prepaid and other current assets and Other assets in the Consolidated Balance Sheets.

(4) Included in Other current liabilities in the Consolidated Balance Sheets.

Deposits Held in Money Market Mutual Funds A portion of the Company’s excess cash is held in money market mutual funds that generate interest income based on prevailing market rates. Money market mutual fund holdings are measured at fair value using quoted market prices and are classified within Level 1 of the valuation hierarchy.

Foreign Exchange Contracts As a result of our global operating activities, we are exposed to risks from changes in foreign currency exchange rates, which may adversely affect our financial condition. To manage our exposures and mitigate the impact of currency fluctuations on our financial results, we hedge our primary transactional exposures through the use of foreign exchange forward and option contracts. The foreign exchange contracts are valued using the market approach based on observable market transactions of forward rates and are classified within Level 2 of the valuation hierarchy.

Interest Rate Swap and Cap Agreements In order to add stability to interest expense and operating costs and to manage exposure to interest rate movements the Company utilizes interest rate swap contracts and interest rate cap agreements as part of its interest rate risk management strategy. The interest rate cap agreements are valued using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. The interest rate swap contracts are valued using an income model based on disparity between variable and fixed interest rates, the scheduled balance of underlying principal outstanding, yield curves, and other information readily available in the market. As such, the interest rate swap contracts and interest rate cap agreements are classified in Level 2 of the fair value hierarchy.

We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we consider the impact of netting and any applicable credit enhancements. We measure the credit risk of our derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio.

Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments utilize Level 3 inputs to evaluate the likelihood of both our own default and

counterparty default. As of December 31, 2022, we determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives and therefore, the valuations are classified in Level 2 of the fair value hierarchy.

Assets Measured at Fair Value on a Non-recurring Basis

From time to time, certain assets are measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3). NCR measures certain assets, including intangible assets and cost and equity method investments, at fair value on a non-recurring basis. These assets are recognized at fair value when initially valued and when deemed to be impaired. Additionally, NCR reviews the carrying values of investments when events and circumstances warrant and considers all available evidence in evaluating when declines in fair value are other-than-temporary declines. NCR carries equity investments in privately-held companies at cost or at fair value when NCR recognizes an other-than-temporary impairment charge. No material impairment charges or non-recurring fair value adjustments were recorded during the years ended December 31, 2022 and December 31, 2021. In the year ended December 31, 2020, we recorded an other-than-temporary impairment charge of $7 million in Other income (expense), net within the Consolidated Statements of Operations related to the write-off of an equity method investment.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME

16. ACCUMULATED OTHER COMPREHENSIVE INCOME

Changes in Accumulated Other Comprehensive Income ("AOCI") by Component

The changes in AOCI for the years ended December 31 are as follows:


In millions	Currency Translation Adjustments		Changes in Employee Benefit Plans		Changes in Fair Value of Effective Cash Flow Hedges		Total
Balance at December 31, 2019	$	(260)	$	(10)	$	1	$	(269)
Other comprehensive (loss) income before reclassifications	15		(11)		(7)		(3)
Amounts reclassified from AOCI	—		(5)		6		1
Net current period other comprehensive (loss) income	15		(16)		(1)		(2)
Balance at December 31, 2020	$	(245)	$	(26)	$	—	$	(271)
Other comprehensive (loss) income before reclassifications	(30)		4		7		(19)
Amounts reclassified from AOCI	—		(2)		1		(1)
Net current period other comprehensive (loss) income	(30)		2		8		(20)
Balance at December 31, 2021	$	(275)	$	(24)	$	8	$	(291)
Other comprehensive (loss) income before reclassifications	(129)		21		117		9
Amounts reclassified from AOCI	—		(2)		(16)		(18)
Net current period other comprehensive (loss) income	(129)		19		101		(9)
Balance at December 31, 2022	$	(404)	$	(5)	$	109	$	(300)

Reclassifications Out of AOCI

The reclassifications out of AOCI for the years ended December 31 are as follows:


		For the year ended December 31, 2022
		Employee Benefit Plans
In millions		Actuarial Losses Recognized		Amortization of Prior Service Benefit		Effective Cash Flow Hedges		Total
Affected line in Consolidated Statement of Operations:
	Cost of products	$	—	$	—	$	—	$	—
	Cost of services	(1)		(1)		(8)		(10)
	Selling, general and administrative expenses	1		(1)		—		—
	Research and development expenses	—		—		—		—
	Interest expense	—		—		(10)		(10)
	Total before tax	$	—	$	(2)	$	(18)	$	(20)
	Tax expense							2
	Total reclassifications, net of tax							$	(18)


		For the year ended December 31, 2021
		Employee Benefit Plans
In millions		Actuarial Losses Recognized		Amortization of Prior Service Benefit		Effective Cash Flow Hedges		Total
Affected line in Consolidated Statement of Operations:
	Cost of products	$	—	$	—	$	—	$	—
	Cost of services	—		(2)		1		(1)
	Selling, general and administrative expenses	(1)		—		—		(1)
	Research and development expenses	—		1		—		1

	Total before tax	$	(1)	$	(1)	$	1	$	(1)
	Tax expense							—
	Total reclassifications, net of tax							$	(1)


		For the year ended December 31, 2020
		Employee Benefit Plans
In millions		Actuarial Losses Recognized		Amortization of Prior Service Benefit		Effective Cash Flow Hedges		Total
Affected line in Consolidated Statement of Operations:
	Cost of products	$	—	$	—	$	7	$	7
	Cost of services	(2)		(2)		—		(4)
	Selling, general and administrative expenses	(1)		(2)		—		(3)
	Research and development expenses	—		—		—		—

	Total before tax	$	(3)	$	(4)	$	7	$	—
	Tax expense							1
	Total reclassifications, net of tax							$	1

During the fourth quarter of 2022, the Company recorded an adjustment of $39 million to correct an overstatement of goodwill, understatement of accumulated other comprehensive loss and understatement of other comprehensive loss as of and for the nine-months ended September 30, 2022, of which $8 million related to the three-months ended March 31, 2022, $12 million related to the three-months ended June 30, 2022 and $19 million related to the three-months ended September 30, 2022. There was no impact to net income in any quarters of 2022 nor to the year ended December 31, 2022. The Company determined that the adjustments and corrections recorded in the fourth quarter of 2022 were not material, quantitatively or qualitatively, to the impacted interim financial statements.

SUPPLEMENTAL FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2022

Supplemental Financial Information [Abstract]

SUPPLEMENTAL FINANCIAL INFORMATION

17. SUPPLEMENTAL FINANCIAL INFORMATION

The components of Other income (expense), net are summarized as follows for the years ended December 31:


In millions	2022		2021		2020
Other income (expense), net
Interest income	$	13	$	8	$	8
Foreign currency fluctuations and foreign exchange contracts	(17)		(22)		(14)
Employee benefit plans(1)	33		131		(31)
Bank-related fees	(9)		(27)		(5)

Impairment of equity investment	—		—		(7)
Bargain purchase gain on acquisition	—		—		7
Other, net	(13)		—		—
Total other income (expense), net	$	7	$	90	$	(42)

(1) For the fourth quarter ended and year ended December 31, 2022, the actuarial loss related to the remeasurement of our pension plan assets and liabilities was $8 million. For the fourth quarter ended and year ended December 31, 2021, the actuarial gain related to the remeasurement of our pension plan assets and liabilities was $118 million. For the fourth quarter ended and year ended December 31, 2020, the actuarial loss related to the remeasurement of our pension plan assets and liabilities was $34 million.

The components of inventory are summarized as follows:


In millions	December 31, 2022		December 31, 2021
Inventories
Work in process and raw materials	$	107	$	184
Finished goods	252		185
Service parts	413		385
Total inventories	$	772	$	754

The components of property, plant and equipment, net are summarized as follows:


In millions	December 31, 2022		December 31, 2021
Property, plant and equipment
Land and improvements	$	3	$	3
Buildings and improvements	280		298
Machinery and other equipment	1,257		1,142
Finance lease assets	61		62
Property, plant and equipment, gross	1,601		1,505
Less: accumulated depreciation	(938)		(802)
Total property, plant and equipment, net	$	663	$	703

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS


Column A	Column B	Column C		Column D	Column E
		Additions
Description	Balance at Beginning of Period	Charged to Costs & Expenses	Charged to Other Accounts	Deductions	Balance at End of Period
Year Ended December 31, 2022
Allowance for doubtful accounts	$24	$23	$—	$13	$34
Deferred tax asset valuation allowance	$368	$133	$23	$76	$448

Year Ended December 31, 2021
Allowance for doubtful accounts	$51	$2	$—	$29	$24
Deferred tax asset valuation allowance	$341	$45	$21	$39	$368

Year Ended December 31, 2020
Allowance for doubtful accounts	$44	$33	$—	$26	$51
Deferred tax asset valuation allowance	$352	$26	$10	$47	$341

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Use of Estimates

Subsequent Events

Basis of Consolidation

Reclassifications

Reclassifications Certain prior-period amounts have been reclassified in the accompanying Consolidated Financial Statements and Notes thereto in order to conform to the current period presentation.

Revenue Recognition

Revenue Recognition The Company records revenue, net of sales tax, when the following five steps have been completed:

•Identification of the contract(s) with a customer

•Identification of the performance obligation(s) in the contract

•Determination of the transaction price

•Allocation of the transaction price to the performance obligations in the contract

•Recognition of revenue when, or as, we satisfy performance obligations

Warranty and Sales Returns

Research and Development Costs

Advertising

Advertising Advertising costs are recognized in selling, general and administrative expenses when incurred.

Stock-based Compensation

Income Taxes

Cash, Cash Equivalents, and Restricted Cash

Accounts Receivable, net and Allowance for Credit Losses on Accounts Receivable

The components of accounts receivable are summarized as follows:


In millions	December 31, 2022		December 31, 2021
Accounts receivable
Trade	$	1,056	$	939
Other	61		44
Accounts receivable, gross	1,117		983
Less: allowance for credit losses	(34)		(24)
Total accounts receivable, net	$	1,083	$	959

Inventories

Deferred Commissions

Deferred Commissions Our incremental costs of obtaining a contract, which consist of certain sales commissions, primarily for our SaaS revenue, are deferred and amortized on a straight-line basis over the period of expected benefit. We determined the period of expected benefit by taking into consideration customer contracts, the estimated life of the customer relationship, including renewals when the renewal commission is not commensurate with the initial commission, the expected life of the underlying technology and other factors. We classify deferred commissions as current or non-current based on the timing of when we expect to recognize the expense. The current and non-current portions of deferred commissions are included in Prepaid and other current assets and Other assets, respectively, in the Consolidated Balance Sheets. Amortization of deferred commissions is included in Selling, general and administrative expenses in the Consolidated Statements of Operations.

Set-up Fees and Costs

Settlement Processing Assets and Obligations

Settlement Processing Assets and Obligations Funds settlement refers to the process of transferring funds for sales and credits between card issuers and merchants and, for ATM transactions, between card issuers and merchants or financial institutions. Depending on the type of transaction, either the credit card interchange system or the debit network is used to transfer the information and funds in either direction between the sponsoring bank and card issuing bank to complete the link between merchants or financial institutions and card issuers. In certain of our processing arrangements, merchant funding occurs after the sponsoring bank or the Company receives the funds from the card issuer through the card networks, creating a settlement obligation to the merchant or financial institution on the Company’s Consolidated Balance Sheet. In a limited number of other arrangements, the sponsoring bank funds the merchants before it receives the net settlement funds from the card networks, creating a settlement asset on the Company’s Consolidated Balance Sheet. Additionally, relative to credit card transactions, certain of the Company’s sponsoring banks collect the gross revenue from the merchants, pay the interchange fees and assessments to the credit card associations, collect their fees for processing and pay the Company a net residual payment representing the Company’s fees for the services. In these instances, the Company does not reflect the related settlement processing assets and obligations in its Consolidated Balance Sheet.Settlement processing assets consist of settlement assets due from customers and receivables from merchants corresponding to the discount fee related to reimbursement of the interchange expense, our receivables from the processing bank or Electronic Funds Transfer (“EFT”) network for transactions that have occurred and have been funded to merchants or financial institutions in advance of receipt of card association funding, restricted cash balances that are not yet due to merchants or financial institutions, merchant reserves held, sponsoring bank reserves and exception items, such as customer chargeback amounts receivable from merchants. Settlement processing obligations consist primarily of merchant reserves, our liability to the processing bank or merchant for transactions for which we have received funding from the members or networks but have not funded merchants or financial institutions as well as certain exception items. Settlement processing assets other than restricted cash are recorded within Prepaid and other current assets and settlement processing liabilities are recorded within Settlement liabilities in the Consolidated Balance Sheet. Cash related to settlement processing is recorded within Restricted cash in the Consolidated Balance Sheet.

Capitalized Software

Software to be Sold, Leased, or Otherwise Marketed

Goodwill and Other Intangible Assets

Property, Plant and Equipment

Property, Plant and Equipment Property, plant and equipment and leasehold improvements are stated at cost less accumulated depreciation. Depreciation is computed over the estimated useful lives of the related assets primarily on a straight-line basis. Machinery and other equipment are depreciated over 3 to 20 years and buildings over 25 to 45 years. Leasehold improvements are depreciated over the life of the lease or the asset, whichever is shorter. Assets classified as held for sale are not depreciated. Upon retirement or disposition of property, plant and equipment, the related cost and accumulated depreciation or amortization are removed from the Company’s accounts, and a gain or loss is recorded. Depreciation expense related to property, plant and equipment was $193 million, $140 million, and $88 million for the years ended December 31, 2022, 2021, and 2020, respectively. Also reported in property and equipment are ATMs and the associated equipment the Company has acquired for future installation or has temporarily removed from service and plans to re-deploy. Significant refurbishment costs that extend the useful life of an asset, or enhance its functionality, are capitalized and depreciated over the estimated remaining life of the improved asset. Maintenance costs are expensed as incurred.

Valuation of Long-Lived Assets

Lessee

Lessor

Pension, Postretirement and Postemployment Benefits

Environmental and Legal Contingencies

Environmental and Legal Contingencies In the normal course of business, NCR is subject to various proceedings, lawsuits, claims and other matters, including, for example, those that relate to the environment and health and safety, labor and employment, employee benefits, import/export compliance, intellectual property, data privacy and security, product liability, commercial disputes and regulatory compliance, among others. Additionally, NCR is subject to diverse and complex laws, regulations, and standards including those relating to corporate governance, public disclosure and reporting, environmental safety and the discharge of materials into the environment, product safety, import and export compliance, data privacy and security, antitrust and competition, government contracting, anti-corruption, and labor and human resources, which are rapidly changing and subject to many possible changes in the future. Compliance with these laws and regulations, including changes in accounting standards, taxation requirements, and federal securities laws, among others, may create a substantial burden on, and substantially increase the costs to NCR or could have an impact on NCR’s future operating results. NCR believes that the amounts provided in its Consolidated Financial Statements are adequate in light of the probable and estimable liabilities. However, there can be no assurances that the actual amounts required to satisfy alleged liabilities from various lawsuits, claims, legal proceedings and other matters, including the Fox River and Kalamazoo River environmental matters discussed in Note 10, “Commitments and Contingencies”, and to comply with applicable laws and regulations, will not exceed the amounts reflected in NCR’s Consolidated Financial Statements or will not have a material adverse effect on the Company’s consolidated results of operations, financial condition or cash flows. Any costs that may be incurred in excess of those amounts provided as of December 31, 2022 cannot currently be reasonably determined or are not currently considered probable. The costs and insurance recoveries relating to certain environmental obligations associated with discontinued operations, including those relating to the Fox River, Kalamazoo River and Ebina matters, are presented in Income (loss) from discontinued operations, net of tax, in the Consolidated Statements of Operations.Legal fees and expenses related to loss contingencies are typically expensed as incurred, except for certain costs associated with NCR’s environmental remediation obligations. Costs and fees associated with litigating the extent and type of required remedial actions and the allocation of remediation costs among potentially responsible parties are typically included in the measurement of the environmental remediation liabilities.

Foreign Currency

Derivative Instruments

Fair Value of Assets and Liabilities

•Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities

•Level 3: Unobservable inputs for which there is little or no market data

NCR measures its financial assets and financial liabilities at fair value based on one or more of the following three valuation techniques:

•Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

•Cost approach: Amount that would be required to replace the service capacity of an asset (replacement cost).

•Income approach: Techniques to convert future amounts to a single present amount based upon market expectations (including present value techniques, option pricing and excess earnings models).

Recent Accounting Pronouncements

Adoption of New Accounting Pronouncements

early adoption permitted. The adoption of this accounting standards update did not have a material effect on the Company's net income, cash flows, earnings per share or financial condition.

Accounting Pronouncements Issued But Not Yet Adopted

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reconciliation of Cash, Cash Equivalents, and Restricted Cash

The reconciliation of cash, cash equivalents and restricted cash in the Consolidated Statements of Cash Flows is as follows:


In millions	Balance Sheet Location	December 31, 2022		December 31, 2021		December 31, 2020
Cash and cash equivalents	Cash and cash equivalents	$	505	$	447	$	338
Short term restricted cash	Restricted cash	8		—		—
Long term restricted cash	Other assets	7		7		9
Funds held for client	Restricted cash	—		48		44
Cash included in settlement processing assets	Restricted cash	220		247		15
Total cash, cash equivalents and restricted cash		$	740	$	749	$	406

Contract with Customer, Contract Asset, Contract Liability, and Receivable

The following table presents the net contract asset and contract liability balances:


In millions	Location in the Consolidated Balance Sheet	December 31, 2022		December 31, 2021

Current portion of contract liabilities	Contract liabilities	$	537	$	516
Non-current portion of contract liabilities	Other liabilities	$	49	$	69

Schedule of Capitalized Computer Software

The following table identifies the activity relating to total capitalized software:


In millions	2022		2021		2020
Beginning balance as of January 1	$	491	$	442	$	413
Capitalization	285		242		232
Amortization	(217)		(197)		(171)
Impairment	—		(24)		(32)
Capitalized software acquired and other adjustments	(5)		28		—
Ending balance as of December 31	$	554	$	491	$	442

Schedule of Accounts, Notes, Loans and Financing Receivable

The components of accounts receivable are summarized as follows:


In millions	December 31, 2022		December 31, 2021
Accounts receivable
Trade	$	1,056	$	939
Other	61		44
Accounts receivable, gross	1,117		983
Less: allowance for credit losses	(34)		(24)
Total accounts receivable, net	$	1,083	$	959

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The final allocation of the purchase price is as follows:


In millions	Fair Value
Cash acquired	$	2
Tangible assets acquired	3
Acquired intangible assets other than goodwill	38
Acquired goodwill	40
Deferred tax liabilities	(10)
Liabilities assumed	(4)
Total purchase consideration	$	69

The final allocation of the purchase price for Cardtronics is as follows:


In millions	Fair Value
Assets acquired
Cash and restricted cash	$	291
Trade accounts receivable	85
Prepaid expenses, other current assets and other assets	193
Property, plant and equipment	362
Acquisition-related intangible assets	864
Total assets acquired	$	1,795

Liabilities assumed	733
Net assets acquired, excluding goodwill	1,062
Total purchase consideration	2,674
Estimated goodwill	$	1,612

The allocation of the purchase prices is as follows:


In millions	Fair Value
Cash acquired	$	2
Tangible assets acquired	7
Acquired intangible assets other than goodwill	52
Acquired goodwill	81
Deferred tax liabilities	(3)
Liabilities assumed	(13)
Total purchase consideration	$	126

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table sets forth the components of the intangible assets acquired as of the acquisition date:


	Fair Value		Weighted Average Amortization Period (1)
	(In millions)		(In years)
Direct customer relationships	$	5	10
Technology - Software	30		13
Non-compete	1		1
Tradenames	2		2
Total acquired intangible assets	$	38

The following table sets forth the components of the intangible assets acquired as of the acquisition date:


	Fair Value		Weighted Average Amortization Period (1)
	(In millions)		(In years)
Direct customer relationships	$	373	15
Technology - Software	441		8
Non-compete	1		1
Tradenames	49		4
Total acquired intangible assets	$	864

The following table sets forth the components of the intangible assets acquired as of the acquisition dates:


	Fair Value		Weighted Average Amortization Period (1)
	(In millions)		(In years)
Direct customer relationships	$	11	10
Technology - Software	36		8
Non-compete	1		1
Tradenames	4		9
Total acquired intangible assets	$	52

Business Acquisition, Pro Forma Information

The unaudited pro forma consolidated results of operations, assuming the acquisition had occurred on January 1, 2020, are as follows:


In millions	For the year ended December 31
	2021		2020
Revenue	$	7,634	$	7,210
Net income (loss) attributable to NCR	$	286	$	(216)

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

The purchase consideration transferred consisted of the following:


In millions	Purchase Consideration
Cash paid to common stockholders and holders of certain restricted stock and stock option awards	$	1,775
Debt repaid by NCR on behalf of Cardtronics	809
Transaction costs paid by NCR on behalf of Cardtronics	57
Fair value of converted Cardtronics awards attributable to pre-combination services	19
Settlement of pre-existing relationships	14
Total purchase consideration	$	2,674

GOODWILL AND PURCHASED INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The carrying amounts of goodwill by segment as of December 31, 2022, 2021, and 2020 are included in the tables below. Foreign currency fluctuations are included within other adjustments.


	December 31, 2021												December 31, 2022
In millions	Goodwill		Accumulated Impairment		Total		Additions		Impairment		Other		Goodwill		Accumulated Impairment		Total
Retail	$	1,015	$	(34)	$	981	$	—	$	—	$	(20)	$	995	$	(34)	$	961
Hospitality	292		(23)		269		—		—		(4)		288		(23)		265
Digital Banking	595		—		595		—		—		(1)		594		—		594
Payments & Network	988		—		988		49		—		(1)		1,036		—		1,036
Self-Service Banking	1,635		(101)		1,534		—		—		(2)		1,633		(101)		1,532
Other(1)	163		(11)		152		—		—		—		163		(11)		152
Total goodwill	$	4,688	$	(169)	$	4,519	$	49	$	—	$	(28)	$	4,709	$	(169)	$	4,540


	December 31, 2020												December 31, 2021
In millions	Goodwill		Accumulated Impairment		Total		Additions		Impairment		Other		Goodwill		Accumulated Impairment		Total
Retail	$	980	$	(34)	$	946	$	37	$	—	$	(2)	$	1,015	$	(34)	$	981
Hospitality	284		(23)		261		11		—		(3)		292		(23)		269
Digital Banking	560		—		560		35		—		—		595		—		595
Payments & Network	360		—		360		628		—		—		988		—		988
Self-Service Banking	659		(101)		558		976		—		—		1,635		(101)		1,534
Other(1)	163		(11)		152		—		—		—		163		(11)		152
Total goodwill	$	3,006	$	(169)	$	2,837	$	1,687	$	—	$	(5)	$	4,688	$	(169)	$	4,519

(1) Other segment includes the goodwill associated with our Technology & Telecommunications reporting unit.

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The gross carrying amount and accumulated amortization for NCR’s identifiable intangible assets were as set forth in the table below.


	Amortization Period (in Years)	December 31, 2022				December 31, 2021
In millions		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Identifiable intangible assets
Reseller & customer relationships	1 - 20	$	1,103	$	(463)	$	1,126	$	(391)
Intellectual property	2 - 8	1,030		(558)		1,008		(474)
Customer contracts	8	89		(89)		89		(89)
Tradenames	1 - 10	128		(95)		130		(83)
Total identifiable intangible assets		$	2,350	$	(1,205)	$	2,353	$	(1,037)

Schedule of Expected Amortization Expense

The aggregate amortization expense (actual and estimated) for identifiable intangible assets for the following periods is:


		For the years ended December 31 (estimated)
In millions	2023			2024			2025			2026			2027
Amortization expense		$	174		$	163		$	151		$	141		$	125

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

SEGMENT INFORMATION AND CONCENTRATION (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents revenue and operating income by segment for the years ended December 31:


In millions	2022		2021		2020
Revenue by segment
Retail	$	2,258	$	2,231	$	2,030
Hospitality	926		849		686
Digital Banking	543		513		472
Payments & Network	1,286		675		85
Self-Service Banking	2,621		2,617		2,602
Corporate and Other	244		297		346
Eliminations (1)	(43)		(26)		(14)
Total Segment revenue	$	7,835	$	7,156	$	6,207
Other adjustment (2)	9		—		—
Total Revenue	$	7,844	$	7,156	$	6,207

Adjusted EBITDA by segment
Retail	$	415	$	442	$	390
Hospitality	192		158		115
Digital Banking	226		213		226
Payments & Network	405		238		15
Self-Service Banking	565		580		523
Corporate and Other	(399)		(369)		(366)
Eliminations (1)	(34)		(18)		(7)
Total Adjusted EBITDA	$	1,370	$	1,244	$	896

The operations of Cardtronics have been included in the Payments & Network and Self-Service Banking segment results from the acquisition close date, June 21, 2021.

The following table reconciles net income (loss) from continuing operations to Adjusted EBITDA for the years ended December 31:


In millions	2022		2021		2020
Net income (loss) from continuing operations attributable to NCR (GAAP)	$	64	$	97	$	(7)
Pension mark-to-market adjustments	8		(118)		34
Transformation and restructuring costs	123		66		234
Acquisition-related amortization of intangibles	172		132		81
Acquisition-related (gains) costs	10		98		(6)
Separation costs	3		—		—


Loss on debt extinguishment	—		42		20
Interest expense	285		238		218
Interest income	(13)		(8)		(8)
Depreciation and amortization	423		357		275
Income taxes	148		186		(53)
Stock-based compensation expense	125		154		108
Russia	22		—		—
Adjusted EBITDA (non-GAAP)	$	1,370	$	1,244	$	896

Revenue from External Customers by Products and Services

The following table presents recurring revenue and all other products and services that is recognized at a point in time for NCR for the years ended December 31:


In millions	2022		2021		2020
Recurring revenue (1)	$	4,841	$	4,166	$	3,338
All other products and services	3,003		2,990		2,869
Total revenue	$	7,844	$	7,156	$	6,207

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area


In millions	2022		%		2021		%		2020		%
Revenue by Geographic Area
United States	$	4,308	55	%	$	3,632	51	%	$	3,065	49	%
Americas (excluding United States)	799		10	%	723		10	%	617		10	%
Europe, Middle East and Africa	1,816		23	%	1,883		26	%	1,679		27	%
Asia Pacific	921		12	%	918		13	%	846		14	%
Total revenue	$	7,844	100	%	$	7,156	100	%	$	6,207	100	%

Property, Plant and Equipment

The following table presents property, plant and equipment by geographic area as of December 31:


In millions	2022		2021
Property, plant and equipment, net
United States	$	408	$	429
Americas (excluding United States)	27		26
Europe, Middle East and Africa	163		197
Asia Pacific	65		51
Consolidated property, plant and equipment, net	$	663	$	703

The components of property, plant and equipment, net are summarized as follows:


In millions	December 31, 2022		December 31, 2021
Property, plant and equipment
Land and improvements	$	3	$	3
Buildings and improvements	280		298
Machinery and other equipment	1,257		1,142
Finance lease assets	61		62
Property, plant and equipment, gross	1,601		1,505
Less: accumulated depreciation	(938)		(802)
Total property, plant and equipment, net	$	663	$	703

DEBT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt Obligations

The following table summarizes the Company's short-term borrowings and long-term debt:


		December 31, 2022			December 31, 2021
In millions, except percentages		Amount		Weighted-Average Interest Rate	Amount		Weighted-Average Interest Rate
Short-Term Borrowings
Current portion of Senior Secured Credit Facility (1)		$	100	6.54%	$	56	2.63%

Other (1)		4		7.05%	1		2.13%
	Total short-term borrowings	$	104		$	57
Long-Term Debt
Senior Secured Credit Facility:
	Term loan facilities (1)	$	1,778	6.69%	$	1,884	2.63%
	Revolving credit facility (1)	523		6.79%	380		2.36%
Senior Notes:



	5.750% Senior Notes due 2027	500			500
	5.000% Senior Notes due 2028	650			650
	5.125% Senior Notes due 2029	1,200			1,200
	6.125% Senior Notes due 2029	500			500
	5.250% Senior Notes due 2030	450			450
Deferred financing fees		(49)			(60)
Other (1)		9		7.1%	1		6.62%
	Total long-term debt	$	5,561		$	5,505

(1) Interest rates are weighted average interest rates as of December 31, 2022 and 2021.

Schedule of Maturities of Long-term Debt

Debt Maturities Maturities of debt outstanding, in principal amounts, at December 31, 2022 are summarized below:


			For the years ended December 31
In millions	Total		2023		2024		2025		2026		2027		Thereafter
Debt maturities	$	5,714	$	104	$	105	$	106	$	2,093	$	506	$	2,800

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

For the years ended December 31, income (loss) from continuing operations before income taxes consisted of the following:


In millions	2022		2021		2020
Income (loss) before income taxes
United States	$	(139)	$	(142)	$	(391)
Foreign	350		426		332
Total income (loss) from continuing operations before income taxes	$	211	$	284	$	(59)

Schedule of Components of Income Tax Expense (Benefit)

For the years ended December 31, income tax expense (benefit) consisted of the following:


In millions	2022		2021		2020
Income tax expense (benefit)
Current
Federal	$	2	$	5	$	(9)
State	7		5		—
Foreign	79		87		68
Deferred
Federal	13		93		(108)
State	(1)		(8)		(6)
Foreign	48		4		2
Total income tax expense (benefit)	$	148	$	186	$	(53)

Schedule of Effective Income Tax Rate Reconciliation

The following table presents the principal components of the difference between the effective tax rate and the U.S. federal statutory income tax rate for the years ended December 31:


In millions	2022		2021		2020
Income tax (benefit) expense at the U.S. federal tax rate of 21%	$	44	$	60	$	(12)
Foreign income tax differential	(8)		4		(14)
Additional U.S. tax on foreign income	7		21		13
State and local income taxes (net of federal effect)	5		2		(4)
Other U.S. permanent book/tax differences	2		3		2
Meals and entertainment expense	2		1		1
Nondeductible transaction costs	1		4		—
Disallowed executive compensation	12		15		10

Gains/losses on internal entity restructuring	—		55		2

Excess benefit/deficit from share-based payments	1		(6)		3
Change in branch tax status	—		1		—
Research and development tax credits	(6)		(6)		(7)
Foreign tax law changes	—		(13)		(4)
Valuation allowances	94		21		(32)
Change in liability for unrecognized tax benefits	(6)		13		(12)
Change in tax estimates for prior periods	(1)		11		—
Other, net	1		—		1
Total income tax (benefit) expense	$	148	$	186	$	(53)

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities included in the Consolidated Balance Sheets as of December 31 were as follows:


In millions	2022		2021
Deferred income tax assets
Employee pensions and other benefits	$	139	$	202
Other balance sheet reserves and allowances	257		233
Tax loss and credit carryforwards	616		656
Capitalized research and development	46		39
Property, plant and equipment	15		18
Lease liabilities	90		101

Other	36		27
Total deferred income tax assets	$	1,199	$	1,276
Valuation allowance	(448)		(368)
Net deferred income tax assets	$	751	$	908
Deferred income tax liabilities
Intangibles	$	71	$	73
Right of use assets	92		101
Capitalized software	27		58

Total deferred income tax liabilities	$	190	$	232
Total net deferred income tax assets	$	561	$	676

Summary of Income Tax Contingencies

The aggregate changes in the balance of our gross unrecognized tax benefits were as follows for the years ended December 31:


In millions	2022		2021		2020
Gross unrecognized tax benefits - January 1	$	121	$	103	$	121
Increases related to tax positions from prior years	3		25		15
Decreases related to tax positions from prior years	(15)		(4)		(6)
Increases related to tax provisions taken during the current year	7		7		6
Settlements with tax authorities	(22)		(2)		(23)
Lapses of statutes of limitation	(7)		(8)		(10)
Total gross unrecognized tax benefits - December 31	$	87	$	121	$	103

STOCK COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Cost by Plan

As of December 31, 2022, the Company’s stock-based compensation consisted of restricted stock units, employee stock purchase plan and stock options. The Company recorded stock-based compensation expense for the years ended December 31 as follows:


In millions	2022		2021	2020
Restricted stock units	$	99	123	78
Stock options	17		23	24
Employee stock purchase plan	9		8	6
Stock-based compensation expense	125		154	108
Tax benefit	(14)		(18)	(13)
Total stock-based compensation (net of tax)	$	111	136	95

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following table reports restricted stock unit activity during the year ended December 31, 2022:


Shares in thousands	Number of Units	Weighted Average Grant-Date Fair Value per Unit
Unvested shares as of January 1	7,922	$	32.86
Shares granted	6,284	$	35.08
Shares vested	(4,171)	$	27.97
Shares forfeited	(958)	$	36.53
Unvested shares as of December 31	9,077	$	35.67

The following table represents the composition of restricted stock unit grants in 2022:


Shares in thousands	Number of Units	Weighted Average Grant-Date Fair Value
Service-based units	2,667	$	30.58
Performance-based units	3,617	$	37.76
Total restricted stock units	6,284	$	35.08

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The table below details the assumptions used in determining the fair value of the market-based restricted stock units.



Dividend yield	—	%
Risk-free interest rate	1.73	%
Expected volatility	59.26	%

The table below details the significant assumptions used in determining the fair value of the market-based restricted stock units granted on December 21, 2022:


Dividend yield	—	%
Risk-free interest rate	3.90	%
Expected volatility	64.93	%

Share-based Payment Arrangement, Option, Activity

The following table summarizes the Company’s stock option activity for the year ended December 31, 2022:


Shares in thousands	Shares Under Option	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding as of January 1	9,079	$	32.96
Granted	—	$	—
Assumed through acquisition	217	$	1.21
Exercised	(255)	$	10.00
Forfeited or expired	(346)	$	33.87
Outstanding as of December 31	8,695	$	32.81	3.29	$	3.48
Fully vested and expected to vest as of December 31	1,863	$	34.08	3.97	$	0.82
Exercisable as of December 31	6,752	$	32.43	3.12	$	2.67

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations

Reconciliation of the beginning and ending balances of the benefit obligations for NCR's pension plans are as follows:


	U.S. Pension Benefits				International Pension Benefits				Total Pension Benefits
In millions	2022		2021		2022		2021		2022		2021
Change in benefit obligation
Benefit obligation as of January 1	$	1,882	$	2,067	$	1,105	$	1,246	$	2,987	$	3,313
Net service cost	—		—		5		6		5		6
Interest cost	39		34		12		8		51		42
Amendment	—		—		—		(6)		—		(6)
Actuarial (gain) loss	(409)		(102)		(222)		(57)		(631)		(159)
Benefits paid	(115)		(117)		(53)		(60)		(168)		(177)
Settlements	—		—		(1)		—		(1)		—
Plan participant contributions	—		—		—		—		—		—
Currency translation adjustments	—		—		(78)		(32)		(78)		(32)
Benefit obligation as of December 31	$	1,397	$	1,882	$	768	$	1,105	$	2,165	$	2,987
Accumulated benefit obligation as of December 31	$	1,397	$	1,882	$	761	$	1,095	$	2,158	$	2,977

Reconciliation of the beginning and ending balances of the benefit obligation for NCR's U.S. postretirement plan is as follows:


	Postretirement Benefits
In millions	2022		2021
Change in benefit obligation
Benefit obligation as of January 1	$	14	$	16

Interest cost	—		—
Actuarial gain	(6)		(1)
Plan participant contributions	—		—
Benefits paid	(1)		(1)
Benefit obligation as of December 31	$	7	$	14

Reconciliation of the beginning and ending balances of the benefit obligation for NCR's postemployment plan was:


	Postemployment Benefits
In millions	2022		2021
Change in benefit obligation
Benefit obligation as of January 1	$	138	$	138

Service cost (1)	71		24
Interest cost	3		2

Benefits paid	(32)		(26)
Foreign currency exchange	(8)		(7)
Actuarial (gain) loss	(14)		7
Benefit obligation as of December 31	$	158	$	138

(1) During the year ended December 31, 2022, the Company recorded approximately $56 million in employee severance charges related to actions taken in the second half of the year.

Schedule of Changes in Fair Value of Plan Assets

A reconciliation of the beginning and ending balances of the fair value of the plan assets of NCR's pension plans are as follows:


	U.S. Pension Benefits				International Pension Benefits				Total Pension Benefits
In millions	2022		2021		2022		2021		2022		2021
Change in plan assets
Fair value of plan assets as of January 1	$	1,379	$	1,528	$	1,106	$	1,118	$	2,485	$	2,646
Actual return on plan assets	(324)		(32)		(225)		47		(549)		15
Company contributions	50		—		17		17		67		17
Benefits paid	(115)		(117)		(53)		(60)		(168)		(177)
Settlement	—		—		(1)		—		(1)		—
Currency translation adjustments	—		—		(84)		(16)		(84)		(16)
Plan participant contributions	—		—		—		—		—		—
Fair value of plan assets as of December 31	$	990	$	1,379	$	760	$	1,106	$	1,750	$	2,485

Schedule of Net Benefit Costs and Amounts Recognized in Balance Sheet


	U.S. Pension Benefits				International Pension Benefits				Total Pension Benefits
In millions	2022		2021		2022		2021		2022		2021
Funded Status	$	(407)	$	(503)	$	(8)	$	1	$	(415)	$	(502)
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	$	—	$	—	$	212	$	300	$	212	$	300
Current liabilities	—		—		(13)		(13)		(13)		(13)
Noncurrent liabilities	(407)		(503)		(207)		(286)		(614)		(789)
Net amounts recognized	$	(407)	$	(503)	$	(8)	$	1	$	(415)	$	(502)
Amounts recognized in accumulated other comprehensive loss
Prior service cost	—		—		13		17		13		17
Total	$	—	$	—	$	13	$	17	$	13	$	17


	Postretirement Benefits
In millions	2022		2021
Benefit obligation	$	(7)	$	(14)
Amounts recognized in the Consolidated Balance Sheets
Current liabilities	$	(2)	$	(1)
Noncurrent liabilities	(5)		(13)
Net amounts recognized	$	(7)	$	(14)
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss (gain)	$	(6)	$	5
Prior service benefit	—		—
Total	$	(6)	$	5


	Postemployment Benefits
In millions	2022		2021
Benefit obligation	$	(158)	$	(138)
Amounts recognized in the Consolidated Balance Sheets
Current liabilities	$	(73)	$	(32)
Noncurrent liabilities	(85)		(106)
Net amounts recognized	$	(158)	$	(138)
Amounts recognized in Accumulated other comprehensive loss
Net actuarial gain	$	(37)	$	(19)
Prior service benefit	(4)		(6)
Total	$	(41)	$	(25)

Schedule of Net Benefit Costs

The net periodic benefit (income) cost of the pension plans for the years ended December 31 was as follows:


In millions	U.S. Pension Benefits						International Pension Benefits						Total Pension Benefits
	2022		2021		2020		2022		2021		2020		2022		2021		2020
Net service cost	$	—	$	—	$	—	$	5	$	6	$	6	$	5	$	6	$	6
Interest cost	39		34		51		12		8		13		51		42		64
Expected return on plan assets	(66)		(30)		(36)		(27)		(25)		(28)		(93)		(55)		(64)
Amortization of prior service cost	—		—		—		—		1		1		—		1		1


Actuarial (gain) loss	(20)		(40)		18		28		(78)		16		8		(118)		34
Net periodic benefit (income) cost	$	(47)	$	(36)	$	33	$	18	$	(88)	$	8	$	(29)	$	(124)	$	41

The net periodic benefit cost (income) of the postretirement plan for the years ended December 31 was:


In millions	Postretirement Benefits
	2022		2021		2020
Interest cost	$	—	$	—	$	—

Amortization of:
Prior service benefit	—		—		(3)
Actuarial loss	1		1		1
Net periodic benefit cost (income)	$	1	$	1	$	(2)

The net periodic benefit cost of the postemployment plan for the years ended December 31 was:


In millions	Postemployment Benefits
	2022		2021		2020
Service cost	$	71	$	24	$	42
Interest cost	3		2		3
Amortization of:
Prior service benefit	(2)		(2)		(2)
Actuarial gain	(1)		(4)		(4)
Net periodic benefit cost	$	71	$	20	$	39

Defined Benefit Plan, Assumptions

The weighted average rates and assumptions used to determine benefit obligations as of December 31 were as follows:


	U.S. Pension Benefits				International Pension Benefits				Total Pension Benefits
	2022		2021		2022		2021		2022		2021
Discount rate	5.3	%	2.7	%	3.8	%	1.4	%	4.8	%	2.2	%
Rate of compensation increase	N/A		N/A		1.8	%	1.4	%	1.8	%	1.4	%

The weighted average rates and assumptions used to determine net periodic benefit (income) cost for the years ended December 31 were as follows:


	U.S. Pension Benefits						International Pension Benefits						Total Pension Benefits
	2022		2021		2020		2022		2021		2020		2022		2021		2020
Discount rate - Service Cost	N/A		N/A		N/A		0.9	%	0.4	%	0.7	%	0.9	%	0.4	%	0.7	%
Discount rate - Interest Cost	2.1	%	1.7	%	2.7	%	1.2	%	0.7	%	1.2	%	1.8	%	1.3	%	2.1	%
Expected return on plan assets	5.0	%	2.1	%	2.8	%	2.7	%	2.2	%	2.6	%	4.0	%	2.1	%	2.7	%
Rate of compensation increase	N/A		N/A		N/A		1.4	%	0.9	%	0.9	%	1.4	%	0.9	%	0.9	%

The assumptions utilized in accounting for postretirement benefit obligations as of December 31 and for postretirement benefit income for the years ended December 31 were:


	Postretirement Benefit Obligations						Postretirement Benefit Costs
	2022		2021		2020		2022		2021		2020
Discount rate	5.2	%	1.9	%	1.4	%	1.9	%	1.4	%	2.5	%

Assumed healthcare cost trend rates as of December 31 were:


	2022				2021
	Pre-65 Coverage		Post-65 Coverage		Pre-65 Coverage		Post-65 Coverage
Healthcare cost trend rate assumed for next year	7.5	%	7.0	%	6.3	%	5.7	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.0	%	5.0	%	5.0	%	5.0	%
Year that the rate reaches the ultimate rate	2033		2033		2028		2028

The weighted average assumptions utilized in accounting for postemployment benefit obligations as of December 31 and for postemployment benefit costs for the years ended December 31 were:


	Postemployment Benefit Obligations				Postemployment Benefit Costs
	2022		2021		2022		2021		2020
Discount rate for severance plan	5.1	%	1.4	%	2.3	%	2.3	%	1.8	%

Salary increase rate	3.1	%	2.0	%	2.6	%	2.6	%	1.8	%
Involuntary turnover rate	3.8	%	3.8	%	3.8	%	3.8	%	3.8	%

Schedule of Allocation of Plan Assets

The weighted average asset allocations as of December 31, 2022 and 2021 by asset category are as follows:


	U.S. Pension Fund					International Pension Fund
	Actual Allocation of Plan Assets as of December 31				Target Asset Allocation (3)	Actual Allocation of Plan Assets as of December 31				Target Asset Allocation
	2022		2021			2022		2021
Equity and other investments (1)	61	%	14	%	60 - 85%	21	%	23	%	10 - 30%
Debt securities (2)	20	%	84	%	5 - 20%	45	%	51	%	50 - 70%
Real estate	—	%	—	%	0 - 20%	20	%	14	%	10 - 20%
Other	19	%	2	%	10 - 30%	14	%	12	%	5 - 15%
Total	100	%	100	%		100	%	100	%

(1) Includes equity securities and equities held in comingled trusts.

(2) Includes debt securities and debt held in comingled trusts.

(3) In 2022, the Company had a change in investment strategy for the U.S. pension plan. Refer to the Investment Strategy section below.

The fair value of plan assets as of December 31, 2022 and 2021 by asset category is as follows:


		U.S.										International
In millions	Notes	Fair Value as of December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling		Fair Value as of December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling
Assets
Equity securities and other investments:
Common stock	1	$	—	$	—	$	—	$	—	$	—	$	88	$	—	$	—	$	—	$	88
Common and commingled trusts - Equities	4	603		—		—		—		603		75		—		—		—		75
Fixed income securities:
Government securities	2	—		—		—		—		—		—		—		—		—		—
Corporate debt	3	—		—		—		—		—		76		—		59		—		17
Common and commingled trusts - Bonds	4	196		—		—		—		196		330		—		—		—		330
Insurance products	4	—		—		—		—		—		1		—		1		—		—
Real Estate
Partnership/joint venture interests - Real estate	5	—		—		—		—		—		—		—		—		—		—
Real estate and other	5	—		—		—		—		—		154		—		—		154		—
Other types of investments:
Common and commingled trusts - Short Term Investments	4	52		—		—		—		52		20		—		—		—		20
Common and commingled trusts - Balanced	4	—		—		—		—		—		—		—		—		—		—
Partnership/joint venture interests - Other	5	25		—		—		—		25		—		—		—		—		—
Mutual funds	4	—		—		—		—		—		—		—		—		—		—
Hedge Funds	4	114		—		—		—		114
Money market funds	4	—		—		—		—		—		16		—		—		—		16
Total		$	990	$	—	$	—	$	—	$	990	$	760	$	—	$	60	$	154	$	546


		U.S.										International
In millions	Notes	Fair Value as of December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling		Fair Value as of December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling
Assets
Equity securities:
Common stock	1	$	194	$	194	$	—	$	—	$	—	$	26	$	26	$	—	$	—	$	—
Common and commingled trusts - Equities	4	—		—		—		—		—		145		—		—		—		145
Fixed income securities:
Government securities	2	201				201		—		—		—		—		—		—		—
Corporate debt	3	752		—		752		—		—		87		—		87		—		—
Common and commingled trusts - Bonds	4	159		—		—		—		159		457		—		—		—		457
Insurance products	4	—		—		—		—		—		1		—		1		—		—
Real Estate
Partnership/joint venture interests - Real estate	5	—		—		—		—		—		—		—		—		—		—
Real estate and other	5	—		—		—		—		—		151		—		—		151		—
Other types of investments:
Common and commingled trusts - Short Term Investments	4	39		—		—		—		39		27		—		—		—		27
Common and commingled trusts - Balanced	4	—		—		—		—		—		185		—		—		—		185
Partnership/joint venture interests - Other	5	2		—		—		—		2		—		—		—		—		—
Mutual funds	4	30		30		—		—		—		—		—		—		—		—
Money market funds	4	2		—		—		—		2		27		—		—		—		27
Total		$	1,379	$	224	$	953	$	—	$	202	$	1,106	$	26	$	88	$	151	$	841

Notes:

1.Common stocks are valued based on quoted market prices at the closing price as reported on the active market on which the individual securities are traded.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets


In millions	International Pension Plans
Balance, December 31, 2020	$	152
Realized and unrealized gains and losses, net	(1)
Purchases, sales and settlements, net	—
Transfers, net	—
Balance, December 31, 2021	$	151
Realized and unrealized gains and losses, net	3
Purchases, sales and settlements, net	—
Transfers, net	—
Balance, December 31, 2022	$	154

Schedule of Expected Benefit Payments

NCR expects to make the following benefit payments reflecting past and future service from its pension, postretirement and postemployment plans:


In millions	U.S. Pension Benefits		International Pension Benefits		Total Pension Benefits		Postretirement Benefits		Postemployment Benefits
Year
2023	$	105	$	48	$	153	$	2	$	75
2024	$	107	$	51	$	158	$	1	$	17
2025	$	108	$	49	$	157	$	1	$	16
2026	$	109	$	49	$	158	$	1	$	15
2027	$	110	$	49	$	159	$	1	$	15
2028-2032	$	539	$	235	$	774	$	2	$	65

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The amounts in Accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost (income) during 2023 are as follows:


In millions	U.S. Pension Benefits		International Pension Benefits		Total Pension Benefits		Postretirement Benefits		Postemployment Benefits
Prior service cost (benefit)	$	—	$	—	$	—	$	—	$	(2)
Actuarial loss (gain)	$	—	$	—	$	—	$	—	$	(3)

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

The Company recorded the activity related to the warranty reserve for the years ended December 31 as follows:


In millions	2022		2021		2020
Warranty reserve liability
Beginning balance as of January 1	$	19	$	18	$	21
Accruals for warranties issued	25		28		30
Settlements (in cash or in kind)	(31)		(27)		(33)
Ending balance as of December 31	$	13	$	19	$	18

LEASING (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Assets And Liabilities, Lessee

The following table presents our lease balances as of December 31:


In millions	Location in the Consolidated Balance Sheet	December 31, 2022		December 31, 2021
Assets
Operating lease assets	Operating lease assets	$	371	$	419
Finance lease assets	Property, plant and equipment, net	61		62
Accumulated Amortization of Finance lease assets	Property, plant and equipment, net	(50)		(35)
Total leased assets		$	382	$	446
Liabilities
Current
Operating lease liabilities	Other current liabilities	$	79	$	97
Finance lease liabilities	Other current liabilities	10		16
Noncurrent
Operating lease liabilities	Operating lease liabilities	353		388
Finance lease liabilities	Other liabilities	3		13
Total lease liabilities		$	445	$	514

Lease, Cost

The following table presents our lease costs for operating and finance leases:


In millions	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Operating lease cost	$	116	$	131	$	125
Finance lease cost
Amortization of leased assets	15		17		13
Interest on lease liabilities	1		1		1
Short-Term lease cost	3		3		5
Variable lease cost	24		24		27
Total lease cost	$	159	$	176	$	171

The following table presents the supplemental cash flow information:


In millions	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	120	$	133	$	128
Operating cash flows from finance leases	$	1	$	1	$	2
Financing cash flows from finance leases	$	15	$	17	$	13
Lease Assets Obtained in Exchange for Lease Obligations
Operating Leases	$	21	$	163	$	31
Finance Leases	$	—	$	2	$	15

The following table presents the weighted average remaining lease term and interest rates:


	December 31, 2022		December 31, 2021
Weighted average lease term:
Operating leases	7.9 years		8.4 years
Finance leases	1.2 years		2.0 years
Weighted average interest rates:
Operating leases	5.79	%	5.70	%
Finance leases	3.56	%	3.78	%

Lessee, Operating Lease, Liability, Maturity


In millions	Operating Leases		Finance Leases
2023	$	102	$	10
2024	77		3
2025	60		—
2026	49		—
2027	45		—
Thereafter	215		—
Total lease payments	548		13
Less: Amount representing interest	116		—
Present value of lease liabilities	$	432	$	13

Finance Lease, Liability, Fiscal Year Maturity


In millions	Operating Leases		Finance Leases
2023	$	102	$	10
2024	77		3
2025	60		—
2026	49		—
2027	45		—
Thereafter	215		—
Total lease payments	548		13
Less: Amount representing interest	116		—
Present value of lease liabilities	$	432	$	13

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The components of basic earnings (loss) per share are as follows:


In millions, except per share amounts	Year ended December 31
	2022		2021		2020
Numerator:
Income (loss) from continuing operations	$	64	$	97	$	(7)
Series A convertible preferred stock dividends	(16)		(16)		(31)
Net income (loss) from continuing operations attributable to NCR common stockholders	48		81		(38)
Loss from discontinued operations, net of tax	(4)		—		(72)
Net income (loss) attributable to NCR common stockholders	$	44	$	81	$	(110)

Denominator:
Basic weighted average number of shares outstanding	136.7		131.2		128.4

Basic earnings (loss) per share:
From continuing operations	$	0.35	$	0.62	$	(0.30)
From discontinued operations	(0.03)		—		(0.56)
Total basic earnings per share	$	0.32	$	0.62	$	(0.86)

The components of diluted earnings (loss) per share are as follows:


In millions, except per share amounts	Year ended December 31
	2022		2021		2020
Numerator:
Income (loss) from continuing operations	$	64	$	97	$	(7)
Series A convertible preferred stock dividends	(16)		(16)		(31)
Net income (loss) from continuing operations attributable to NCR common stockholders	48		81		(38)
Loss from discontinued operations, net of tax	(4)		—		(72)
Net income (loss) attributable to NCR common stockholders	$	44	$	81	$	(110)

Denominator:
Basic weighted average number of shares outstanding	136.7		131.2		128.4
Dilutive effect of as-if Series A Convertible Preferred Stock	—		—		—
Dilutive effect of employee stock options and restricted stock units	4.5		7.8		—
Weighted average diluted shares	141.2		139.0		128.4

Diluted earnings (loss) per share:
From continuing operations	$	0.34	$	0.58	$	(0.30)
From discontinued operations	(0.03)		—		(0.56)
Total diluted earnings per share	$	0.31	$	0.58	$	(0.86)

DERIVATIVES AND HEDGING INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following tables provide information on the location and amounts of derivative fair values in the Consolidated Balance Sheets:


	Fair Values of Derivative Instruments
	December 31, 2022
In millions	Balance Sheet Location	Notional Amount		Fair Value		Balance Sheet Location	Notional Amount		Fair Value
Derivatives designated as hedging instruments
Interest rate swap contracts	Prepaid and other current assets			$	36	Other current liabilities			$	—
Interest rate swap contracts	Other assets			27		Other liabilities
Total derivatives designated as hedging instruments		$2,423		$	63		$	—	$	—
Derivatives not designated as hedging instruments
Foreign exchange contracts	Prepaid and other current assets			$	1	Other current liabilities			$	(2)
Total derivatives not designated as hedging instruments		$	376	$	1		$	373	$	(2)
Total derivatives				$	64				$	(2)

	Fair Values of Derivative Instruments
	December 31, 2021
In millions	Balance Sheet Location	Notional Amount		Fair Value		Balance Sheet Location	Notional Amount		Fair Value
Derivatives designated as hedging instruments

Interest rate contracts	Other assets			$	18	Other liabilities			$	—
Total derivatives designated as hedging instruments		$	2,000	$	18		$	—	$	—
Derivatives not designated as hedging instruments
Foreign exchange contracts	Prepaid and other current assets			$	1	Other current liabilities			$	1
Total derivatives not designated as hedging instruments		$	278	$	1		$	396	$	1
Total derivatives				$	19				$	1

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance













In millions	Amount of Gain (Loss) Recognized in Other Comprehensive Income (OCI) on Derivative							Amount of (Gain) Loss Reclassified from AOCI into the Consolidated Statements of Operations
Derivatives in Cash Flow Hedging Relationships	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020		Location of (Gain) Loss Reclassified from AOCI into the Consolidated Statements of Operations	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Interest rate contracts	$	116	$	5	$	—	Cost of services	$	(8)	$	1	$	—
Interest rate contracts	$	36	$	4	$	—	Interest expense	$	(10)	$	—	$	—

Foreign exchange contracts	$	—	$	—	$	(8)	Cost of products	$	—	$	—	$	7


In millions		Amount of Gain (Loss) Recognized in the Consolidated Statements of Operations
Derivatives not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in the Consolidated Statements of Operations	For the year ended December 31, 2022		For the year ended December 31, 2021		For the year ended December 31, 2020
Foreign exchange contracts	Other income (expense), net	$	(31)	$	(24)	$	22

The following tables show the impact of the Company's cash flow hedge accounting relationships on the Consolidated Statement of Operations for the years ended December 31, 2022, 2021, and 2020.


	Location and Amount of (Gain) Loss Recognized in Income on Cash Flow Hedging Relationships for the years ended December 31:
In millions	Cost of Services						Cost of Products						Interest Expense
	2022		2021		2020		2022		2021		2020		2022		2021		2020
Total amount of expense presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded	$	3,889	$	3,413	$	2,950	$	2,097	$	1,850	$	1,733	$	285	$	238	$	218

Amount of (gain) loss reclassified from Accumulated other comprehensive loss, net of expense	$	(8)	$	1	$	—	$	—	$	—	$	7	$	(10)	$	—	$	—

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities recorded at fair value on a recurring basis as of December 31, 2022 and 2021 are set forth as follows:


			December 31, 2022						December 31, 2021
			Fair Value Measurements Using						Fair Value Measurements Using
In millions	December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Deposits held in money market mutual funds (1)	$	16	$	16	$	—	$	—	$	17	$	17	$	—	$	—

Foreign exchange contracts (2)	1		—		1		—		1		—		1		—
Interest rate swap and cap agreements (3)	63		—		63		—		18		—		18		—
Total	$	80	$	16	$	64	$	—	$	36	$	17	$	19	$	—
Liabilities:
Foreign exchange contracts (4)	2		—		2		—		1		—		1		—
Total	$	2	$	—	$	2	$	—	$	1	$	—	$	1	$	—

(1) Included in Cash and cash equivalents in the Consolidated Balance Sheets.

(2) Included in Prepaid and other current assets in the Consolidated Balance Sheets.

(3) Included in Prepaid and other current assets and Other assets in the Consolidated Balance Sheets.

(4) Included in Other current liabilities in the Consolidated Balance Sheets.

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated Other Comprehensive Income ("AOCI") by Component

The changes in AOCI for the years ended December 31 are as follows:


In millions	Currency Translation Adjustments		Changes in Employee Benefit Plans		Changes in Fair Value of Effective Cash Flow Hedges		Total
Balance at December 31, 2019	$	(260)	$	(10)	$	1	$	(269)
Other comprehensive (loss) income before reclassifications	15		(11)		(7)		(3)
Amounts reclassified from AOCI	—		(5)		6		1
Net current period other comprehensive (loss) income	15		(16)		(1)		(2)
Balance at December 31, 2020	$	(245)	$	(26)	$	—	$	(271)
Other comprehensive (loss) income before reclassifications	(30)		4		7		(19)
Amounts reclassified from AOCI	—		(2)		1		(1)
Net current period other comprehensive (loss) income	(30)		2		8		(20)
Balance at December 31, 2021	$	(275)	$	(24)	$	8	$	(291)
Other comprehensive (loss) income before reclassifications	(129)		21		117		9
Amounts reclassified from AOCI	—		(2)		(16)		(18)
Net current period other comprehensive (loss) income	(129)		19		101		(9)
Balance at December 31, 2022	$	(404)	$	(5)	$	109	$	(300)

Schedule of Reclassifications Out of Accumulated Other Comprehensive Income

The reclassifications out of AOCI for the years ended December 31 are as follows:


		For the year ended December 31, 2022
		Employee Benefit Plans
In millions		Actuarial Losses Recognized		Amortization of Prior Service Benefit		Effective Cash Flow Hedges		Total
Affected line in Consolidated Statement of Operations:
	Cost of products	$	—	$	—	$	—	$	—
	Cost of services	(1)		(1)		(8)		(10)
	Selling, general and administrative expenses	1		(1)		—		—
	Research and development expenses	—		—		—		—
	Interest expense	—		—		(10)		(10)
	Total before tax	$	—	$	(2)	$	(18)	$	(20)
	Tax expense							2
	Total reclassifications, net of tax							$	(18)


		For the year ended December 31, 2021
		Employee Benefit Plans
In millions		Actuarial Losses Recognized		Amortization of Prior Service Benefit		Effective Cash Flow Hedges		Total
Affected line in Consolidated Statement of Operations:
	Cost of products	$	—	$	—	$	—	$	—
	Cost of services	—		(2)		1		(1)
	Selling, general and administrative expenses	(1)		—		—		(1)
	Research and development expenses	—		1		—		1

	Total before tax	$	(1)	$	(1)	$	1	$	(1)
	Tax expense							—
	Total reclassifications, net of tax							$	(1)


		For the year ended December 31, 2020
		Employee Benefit Plans
In millions		Actuarial Losses Recognized		Amortization of Prior Service Benefit		Effective Cash Flow Hedges		Total
Affected line in Consolidated Statement of Operations:
	Cost of products	$	—	$	—	$	7	$	7
	Cost of services	(2)		(2)		—		(4)
	Selling, general and administrative expenses	(1)		(2)		—		(3)
	Research and development expenses	—		—		—		—

	Total before tax	$	(3)	$	(4)	$	7	$	—
	Tax expense							1
	Total reclassifications, net of tax							$	1

SUPPLEMENTAL FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Supplemental Financial Information [Abstract]

Interest and Other Income

The components of Other income (expense), net are summarized as follows for the years ended December 31:


In millions	2022		2021		2020
Other income (expense), net
Interest income	$	13	$	8	$	8
Foreign currency fluctuations and foreign exchange contracts	(17)		(22)		(14)
Employee benefit plans(1)	33		131		(31)
Bank-related fees	(9)		(27)		(5)

Impairment of equity investment	—		—		(7)
Bargain purchase gain on acquisition	—		—		7
Other, net	(13)		—		—
Total other income (expense), net	$	7	$	90	$	(42)

Schedule of Inventory, Current

The components of inventory are summarized as follows:


In millions	December 31, 2022		December 31, 2021
Inventories
Work in process and raw materials	$	107	$	184
Finished goods	252		185
Service parts	413		385
Total inventories	$	772	$	754

Property, Plant and Equipment

The following table presents property, plant and equipment by geographic area as of December 31:


In millions	2022		2021
Property, plant and equipment, net
United States	$	408	$	429
Americas (excluding United States)	27		26
Europe, Middle East and Africa	163		197
Asia Pacific	65		51
Consolidated property, plant and equipment, net	$	663	$	703

The components of property, plant and equipment, net are summarized as follows:


In millions	December 31, 2022		December 31, 2021
Property, plant and equipment
Land and improvements	$	3	$	3
Buildings and improvements	280		298
Machinery and other equipment	1,257		1,142
Finance lease assets	61		62
Property, plant and equipment, gross	1,601		1,505
Less: accumulated depreciation	(938)		(802)
Total property, plant and equipment, net	$	663	$	703

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loss - conflict in Eastern Europe	$ 22
Remaining performance obligation	3,800
Interest paid, excluding capitalized interest	268	$ 215	$ 196
Income taxes paid, net	88	84	82
Average amount of vault cash	4,100
Allowance for credit loss	34	24
Allowance for credit loss, writeoff	13	29
Current portion of contract assets	0
Contract with customer, liability, revenue recognized	$ 403	447	407
Contract term used to recognize set up fees	5 years
Period of benefit used to amortize set up costs	7 years
Settlement assets	$ 275	287
Settlement liabilities	250	263
Depreciation	193	140	88
LibertyX
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Business combination, consideration transferred, non-cash	68
Noncash transaction debt assumed	$ 2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Remaining performance obligation, percentage	0.75%
Remaining performance obligation, expected timing of satisfaction, period	12 months
SEC Schedule, 12-09, Allowance, Credit Loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Charged to Costs & Expenses	$ 23	$ 2	$ 33
Maximum \| Machinery and other equipment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, useful life	20 years
Maximum \| Building
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, useful life	45 years
Maximum \| Software Development Costs, Internal Use
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized computer software, useful life	7 years
Maximum \| Software and Software Development Costs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized computer software, useful life	5 years
Maximum \| Revenue Benchmark \| Bill and Hold Transactions
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	1.00%	1.00%	1.00%
Minimum \| Machinery and other equipment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, useful life	3 years
Minimum \| Building
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, useful life	25 years
Minimum \| Software Development Costs, Internal Use
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized computer software, useful life	4 years
Minimum \| Software and Software Development Costs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized computer software, useful life	3 years

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 505	$ 447	$ 338
Short term restricted cash	8	0	0
Long term restricted cash	7	7	9
Funds held for client	0	48	44
Cash included in settlement processing assets	220	247	15
Total cash, cash equivalents and restricted cash	$ 740	$ 749	$ 406

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Components of Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 1,117	$ 983
Less: allowance for credit losses	(34)	(24)
Total accounts receivable, net	1,083	959
Trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	1,056	939
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 61	$ 44

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Contract liabilities	$ 537	$ 516
Non-current portion of contract liabilities	$ 49	$ 69

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Capitalized Software and Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Capitalized Software [Roll Forward]
Beginning balance as of January 1	$ 491	$ 442	$ 413
Capitalization	285	242	232
Amortization	(217)	(197)	(171)
Impairment	0	(24)	(32)
Capitalized software acquired and other adjustments	(5)	28	0
Ending balance as of December 31	$ 554	$ 491	$ 442

BUSINESS COMBINATIONS - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions				3 Months Ended	6 Months Ended		12 Months Ended
	Jul. 01, 2022	Jan. 05, 2022	Jun. 21, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Apr. 06, 2021
Business Acquisition [Line Items]
Loss on divestiture							$ 9.0	$ 0.0	$ 0.0
Restricted cash					$ 228.0	$ 295.0	$ 228.0	295.0
Expected tax deductible amount of goodwill						9.0		9.0
Revenue of acquiree since acquisition date						627.0
Cardtronics income from operations before income taxes						39.0
5.125% Senior Notes due 2029
Business Acquisition [Line Items]
Interest rate, stated percentage									5.125%	5.125%
Cardtronics
Business Acquisition [Line Items]
Transaction costs						$ 46.0		46.0
LibertyX
Business Acquisition [Line Items]
Share consideration value		$ 1.0
New issues (in shares)		1.4
Acquired share price (in dollars per share)		$ 42.13
Number of shares converted (in shares)		0.2
Total purchase consideration		$ 69.0
FIS Payment Solutions & Services Private Limited
Business Acquisition [Line Items]
Total purchase consideration	$ 19.0
Payments to acquire businesses, gross					$ 12.0
Cardtronics
Business Acquisition [Line Items]
Acquired share price (in dollars per share)			$ 39.00
Total purchase consideration			$ 2,674.0
Expected tax deductible amount of goodwill			139.0
Pro forma eliminations, revenue								53.0	$ 91.0
Pro forma expensesincremental amortization changes attributable to acquiree								25.0	51.0
Pro forma expenses transactions costs								87.0	65.0
Pro forma expenses incremental interest charges attributable to acquiree								35.0	$ 79.0
Debt repaid by NCR on behalf of Cardtronics			$ 809.0
Freshop, Terafina, Dumac
Business Acquisition [Line Items]
Total purchase consideration				$ 126.0				$ 126.0

BUSINESS COMBINATIONS - Preliminary Allocation of Purchase Price, LibertyX (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 05, 2022	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Acquired goodwill		$ 49	$ 1,687
LibertyX
Business Acquisition [Line Items]
Cash acquired	$ 2
Tangible assets acquired	3
Acquired intangible assets other than goodwill	38
Acquired goodwill	40
Deferred tax liabilities	(10)
Liabilities assumed	(4)
Total purchase consideration	$ 69

BUSINESS COMBINATIONS - Components of Intangible Assets Acquired, LibertyX (Details) - LibertyX $ in Millions	Jan. 05, 2022 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 38
Reseller & customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 5
Weighted average amortization period (in years)	10 years
Technology - Software
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 30
Weighted average amortization period (in years)	13 years
Non-compete
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 1
Weighted average amortization period (in years)	1 year
Tradenames
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 2
Weighted average amortization period (in years)	2 years

BUSINESS COMBINATIONS - Purchase Consideration Transferred, Cardtronics (Details) - Cardtronics $ in Millions	Jun. 21, 2021 USD ($)
Business Acquisition [Line Items]
Cash paid to common stockholders and holders of certain restricted stock and stock option awards	$ 1,775
Debt repaid by NCR on behalf of Cardtronics	809
Transaction costs paid by NCR on behalf of Cardtronics	57
Fair value of converted Cardtronics awards attributable to pre-combination services	19
Settlement of pre-existing relationships	14
Total purchase consideration	$ 2,674

BUSINESS COMBINATIONS - Preliminary Allocation of Purchase Price, Cardtronics (Details) - USD ($) $ in Millions	Jun. 21, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets acquired
Estimated goodwill		$ 4,540	$ 4,519	$ 2,837
Cardtronics
Assets acquired
Cash and restricted cash	$ 291
Trade accounts receivable	85
Prepaid expenses, other current assets and other assets	193
Property, plant and equipment	362
Acquisition-related intangible assets	864
Total assets acquired	1,795
Liabilities assumed	733
Net assets acquired, excluding goodwill	1,062
Total purchase consideration	2,674
Estimated goodwill	$ 1,612

BUSINESS COMBINATIONS - Components of Intangible Assets Acquired, Cardtronics (Details) - Cardtronics $ in Millions	Jun. 21, 2021 USD ($)
Business Acquisition [Line Items]
Fair Value	$ 864
Reseller & customer relationships
Business Acquisition [Line Items]
Fair Value	$ 373
Weighted average amortization period (in years)	15 years
Technology - Software
Business Acquisition [Line Items]
Fair Value	$ 441
Weighted average amortization period (in years)	8 years
Non-compete
Business Acquisition [Line Items]
Fair Value	$ 1
Weighted average amortization period (in years)	1 year
Tradenames
Business Acquisition [Line Items]
Fair Value	$ 49
Weighted average amortization period (in years)	4 years

BUSINESS COMBINATIONS - Pro Forma Information, Cardtronics (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Combination and Asset Acquisition [Abstract]
Revenue	$ 7,634	$ 7,210
Net income (loss) attributable to NCR	$ 286	$ (216)

BUSINESS COMBINATIONS - Preliminary Allocation of Purchase Price, Freshop, Terafina, Dumac (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Acquired goodwill		$ 49	$ 1,687
Freshop, Terafina, Dumac
Business Acquisition [Line Items]
Cash and restricted cash			2
Total assets acquired			7
Acquired intangible assets other than goodwill			52
Acquired goodwill			81
Deferred tax liabilities			(3)
Liabilities assumed			(13)
Total purchase consideration	$ 126		$ 126

BUSINESS COMBINATIONS - Components of Intangible Assets Acquired, Freshop, Terafina, Dumac (Details) - Freshop, Terafina, Dumac $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Fair Value	$ 52
Reseller & customer relationships
Business Acquisition [Line Items]
Fair Value	$ 11
Weighted average amortization period (in years)	10 years
Technology - Software
Business Acquisition [Line Items]
Fair Value	$ 36
Weighted average amortization period (in years)	8 years
Non-compete
Business Acquisition [Line Items]
Fair Value	$ 1
Weighted average amortization period (in years)	1 year
Tradenames
Business Acquisition [Line Items]
Fair Value	$ 4
Weighted average amortization period (in years)	9 years

GOODWILL AND PURCHASED INTANGIBLE ASSETS - Schedule of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 4,688	$ 3,006
Accumulated impairment, beginning balance	(169)	(169)
Total beginning balance	4,519	2,837
Acquired goodwill	49	1,687
Impairment	0	0
Other	(28)	(5)
Goodwill, ending balance	4,709	4,688
Accumulated impairment, ending balance	(169)	(169)
Total ending balance	4,540	4,519
Retail
Goodwill [Roll Forward]
Goodwill, beginning balance	1,015	980
Accumulated impairment, beginning balance	(34)	(34)
Total beginning balance	981	946
Acquired goodwill	0	37
Impairment	0	0
Other	(20)	(2)
Goodwill, ending balance	995	1,015
Accumulated impairment, ending balance	(34)	(34)
Total ending balance	961	981
Hospitality
Goodwill [Roll Forward]
Goodwill, beginning balance	292	284
Accumulated impairment, beginning balance	(23)	(23)
Total beginning balance	269	261
Acquired goodwill	0	11
Impairment	0	0
Other	(4)	(3)
Goodwill, ending balance	288	292
Accumulated impairment, ending balance	(23)	(23)
Total ending balance	265	269
Digital Banking
Goodwill [Roll Forward]
Goodwill, beginning balance	595	560
Accumulated impairment, beginning balance	0	0
Total beginning balance	595	560
Acquired goodwill	0	35
Impairment	0	0
Other	(1)	0
Goodwill, ending balance	594	595
Accumulated impairment, ending balance	0	0
Total ending balance	594	595
Payments & Network
Goodwill [Roll Forward]
Goodwill, beginning balance	988	360
Accumulated impairment, beginning balance	0	0
Total beginning balance	988	360
Acquired goodwill	49	628
Impairment	0	0
Other	(1)	0
Goodwill, ending balance	1,036	988
Accumulated impairment, ending balance	0	0
Total ending balance	1,036	988
Self-Service Banking
Goodwill [Roll Forward]
Goodwill, beginning balance	1,635	659
Accumulated impairment, beginning balance	(101)	(101)
Total beginning balance	1,534	558
Acquired goodwill	0	976
Impairment	0	0
Other	(2)	0
Goodwill, ending balance	1,633	1,635
Accumulated impairment, ending balance	(101)	(101)
Total ending balance	1,532	1,534
Corporate and Other
Goodwill [Roll Forward]
Goodwill, beginning balance	163	163
Accumulated impairment, beginning balance	(11)	(11)
Total beginning balance	152	152
Acquired goodwill	0	0
Impairment	0	0
Other	0	0
Goodwill, ending balance	163	163
Accumulated impairment, ending balance	(11)	(11)
Total ending balance	$ 152	$ 152

GOODWILL AND PURCHASED INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, written off related to sale of business unit	$ 12
Amortization expense	$ 172	$ 132	$ 81

GOODWILL AND PURCHASED INTANGIBLE ASSETS - Schedule of Acquired Intangibles (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,350	$ 2,353
Accumulated Amortization	(1,205)	(1,037)
Reseller & customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,103	1,126
Accumulated Amortization	(463)	(391)
Intellectual property
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,030	1,008
Accumulated Amortization	$ (558)	(474)
Customer contracts
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Period (in Years)	8 years
Gross Carrying Amount	$ 89	89
Accumulated Amortization	(89)	(89)
Tradenames
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	128	130
Accumulated Amortization	$ (95)	$ (83)
Minimum \| Reseller & customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Period (in Years)	1 year
Minimum \| Intellectual property
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Period (in Years)	2 years
Minimum \| Tradenames
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Period (in Years)	1 year
Maximum \| Reseller & customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Period (in Years)	20 years
Maximum \| Intellectual property
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Period (in Years)	8 years
Maximum \| Tradenames
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Period (in Years)	10 years

GOODWILL AND PURCHASED INTANGIBLE ASSETS - Amorization Expense (Details) $ in Millions	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 174
2024	163
2025	151
2026	141
2027	$ 125

SEGMENT INFORMATION AND CONCENTRATION - Revenue and Operating Income By Segments (Details) - USD ($)		12 Months Ended
	Aug. 12, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenue by segment		$ 7,844,000,000	$ 7,156,000,000	$ 6,207,000,000
Adjusted EBITDA by segment		1,370,000,000	1,244,000,000	896,000,000
Revenue attributable to Russia operations			48,000,000	41,000,000
Net income (loss) from continuing operations attributable to NCR (GAAP)		64,000,000	97,000,000	(7,000,000)
Pension mark-to-market adjustments		8,000,000	(118,000,000)	34,000,000
Transformation and restructuring costs		123,000,000	66,000,000	234,000,000
Amortization expense		172,000,000	132,000,000	81,000,000
Acquisition-related (gains) costs		10,000,000	98,000,000	(6,000,000)
Separation costs		3,000,000	0	0
Loss on debt extinguishment	$ 42,000,000	0	42,000,000	20,000,000
Interest expense		285,000,000	238,000,000	218,000,000
Interest income		(13,000,000)	(8,000,000)	(8,000,000)
Depreciation and amortization		423,000,000	357,000,000	275,000,000
Income tax expense (benefit)		148,000,000	186,000,000	(53,000,000)
Stock-based compensation expense		125,000,000	154,000,000	108,000,000
Russia		22,000,000	0	0
Russia Conflict
Segment Reporting Information [Line Items]
Revenue by segment		9,000,000	0	0
Operating Segments
Segment Reporting Information [Line Items]
Revenue by segment		7,835,000,000	7,156,000,000	6,207,000,000
Adjusted EBITDA by segment		1,370,000,000	1,244,000,000	896,000,000
Operating Segments \| Retail
Segment Reporting Information [Line Items]
Revenue by segment		2,258,000,000	2,231,000,000	2,030,000,000
Adjusted EBITDA by segment		415,000,000	442,000,000	390,000,000
Operating Segments \| Hospitality
Segment Reporting Information [Line Items]
Revenue by segment		926,000,000	849,000,000	686,000,000
Adjusted EBITDA by segment		192,000,000	158,000,000	115,000,000
Operating Segments \| Digital Banking
Segment Reporting Information [Line Items]
Revenue by segment		543,000,000	513,000,000	472,000,000
Adjusted EBITDA by segment		226,000,000	213,000,000	226,000,000
Operating Segments \| Payments & Network
Segment Reporting Information [Line Items]
Revenue by segment		1,286,000,000	675,000,000	85,000,000
Adjusted EBITDA by segment		405,000,000	238,000,000	15,000,000
Operating Segments \| Self-Service Banking
Segment Reporting Information [Line Items]
Revenue by segment		2,621,000,000	2,617,000,000	2,602,000,000
Adjusted EBITDA by segment		565,000,000	580,000,000	523,000,000
Operating Segments \| Corporate and Other
Segment Reporting Information [Line Items]
Revenue by segment		244,000,000	297,000,000	346,000,000
Adjusted EBITDA by segment		(399,000,000)	(369,000,000)	(366,000,000)
Operating Segments \| Eliminations
Segment Reporting Information [Line Items]
Revenue by segment		(43,000,000)	(26,000,000)	(14,000,000)
Adjusted EBITDA by segment		$ (34,000,000)	$ (18,000,000)	$ (7,000,000)

SEGMENT INFORMATION AND CONCENTRATION - Revenue from External Customers by Products and Services (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from External Customer [Line Items]
Revenue by segment	$ 7,844	$ 7,156	$ 6,207
Recurring revenue
Revenue from External Customer [Line Items]
Revenue by segment	4,841	4,166	3,338
All other products and services
Revenue from External Customer [Line Items]
Revenue by segment	$ 3,003	$ 2,990	$ 2,869

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

SEGMENT INFORMATION AND CONCENTRATION - Geographic Area (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by segment	$ 7,844	$ 7,156	$ 6,207
Percentage of revenues by geographic area	100.00%	100.00%	100.00%
Americas (excluding United States)
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of revenues by geographic area	10.00%	10.00%	10.00%
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by segment	$ 1,816	$ 1,883	$ 1,679
Percentage of revenues by geographic area	23.00%	26.00%	27.00%
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by segment	$ 921	$ 918	$ 846
Percentage of revenues by geographic area	12.00%	13.00%	14.00%
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by segment	$ 4,308	$ 3,632	$ 3,065
Percentage of revenues by geographic area	55.00%	51.00%	49.00%
Americas (Excluding United States) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by segment	$ 799	$ 723	$ 617

- Definition

+ References

+ Details

SEGMENT INFORMATION AND CONCENTRATION - Property, Plant and Equipment by Geography (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Property, plant and equipment, net	$ 663	$ 703
United States
Segment Reporting Information [Line Items]
Property, plant and equipment, net	408	429
Americas (excluding United States)
Segment Reporting Information [Line Items]
Property, plant and equipment, net	27	26
Europe, Middle East and Africa
Segment Reporting Information [Line Items]
Property, plant and equipment, net	163	197
Asia Pacific
Segment Reporting Information [Line Items]
Property, plant and equipment, net	$ 65	$ 51

DEBT OBLIGATIONS - Short-term Borrowings and Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Aug. 20, 2020	Aug. 21, 2019
Debt Instrument [Line Items]
Short-term borrowings	$ 104	$ 57
Long-term debt	5,561	5,505
Deferred financing fees	49	60
Term Loan
Debt Instrument [Line Items]
Long-term debt	$ 1,778	$ 1,884
Weighted-Average Interest Rate	6.69%	2.63%
Other
Debt Instrument [Line Items]
Long-term debt	$ 9	$ 1
Weighted-Average Interest Rate	7.10%	6.62%
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt	$ 523	$ 380
Weighted-Average Interest Rate	6.79%	2.36%
5.750% Senior Notes due 2027
Debt Instrument [Line Items]
Long-term debt	$ 500	$ 500
Interest rate, stated percentage	5.75%			5.75%
5.000% Senior Notes due 2028
Debt Instrument [Line Items]
Long-term debt	$ 650	650	$ 650
Interest rate, stated percentage			5.00%
5.125% Senior Notes due 2029
Debt Instrument [Line Items]
Long-term debt	$ 1,200	1,200
Interest rate, stated percentage	5.125%
6.125% Senior Notes due 2029
Debt Instrument [Line Items]
Long-term debt	$ 500	500
Interest rate, stated percentage	6.125%			6.125%
5.250% Senior Notes due 2030
Debt Instrument [Line Items]
Long-term debt	$ 450	450	$ 450
Interest rate, stated percentage			5.25%
Term Loan
Debt Instrument [Line Items]
Current portion of Senior Secured Credit Facility	$ 100	$ 56
Weighted-Average Interest Rate	6.54%	2.63%
Other
Debt Instrument [Line Items]
Short-term borrowings	$ 4	$ 1
Weighted-Average Interest Rate	7.05%	2.13%

DEBT OBLIGATIONS - Additional Information (Details) - USD ($)														1 Months Ended	12 Months Ended
	Sep. 01, 2027	Sep. 01, 2026	Apr. 15, 2026	Sep. 01, 2025	Apr. 15, 2025	Sep. 01, 2024	Aug. 31, 2024	Apr. 15, 2024	Sep. 01, 2023	Sep. 01, 2022	Aug. 12, 2021	Apr. 06, 2021	Aug. 20, 2020	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Aug. 21, 2019
Debt Instrument [Line Items]
Senior secured incremental term loan B facility														$ 750,000,000	$ 750,000,000
Letters of credit outstanding, amount														29,000,000	29,000,000
Aggregate principal amount of term loan A facility														1,305,000,000	1,305,000,000
Long-term debt														5,561,000,000	5,561,000,000	$ 5,505,000,000
Remaining borrowing capacity														$ 748,000,000	$ 748,000,000
Quarterly payment of term loan principal amount															0.25%
Quarterly payment of Term Loan A facility														1.875%	1.875%
Increase in maximum permitted leverage ratio due to material acquisitions														0.25	0.25
Debt related commitment fees and debt issuance costs																19,000,000
Available additional amount of incremental term loan or incremental revolving commitment														$ 150,000,000	$ 150,000,000
Leverage ratio														3.00	3.00
Debt maturities														$ 5,714,000,000	$ 5,714,000,000
Percentage of Note required outstanding												55.00%
Percentage of principal amount redeemed											109.136%
Loss on debt extinguishment											$ 42,000,000				0	42,000,000	$ 20,000,000
Short-term borrowings														104,000,000	104,000,000	57,000,000
Debt instrument, fair value disclosure														$ 5,250,000,000	$ 5,250,000,000	5,740,000,000
Loss on redemption of debt - Deferred financing fees
Debt Instrument [Line Items]
Loss on debt extinguishment											(5,000,000)
Loss on redemption of debt - Cash Redemption Premium
Debt Instrument [Line Items]
Loss on debt extinguishment											(37,000,000)
At any time and from time to time, prior to April 15, 2024
Debt Instrument [Line Items]
Redemption price, percentage												105.125%
Period One
Debt Instrument [Line Items]
Debt instrument covenant consolidated leverage ratio														5.50	5.50
Period Two
Debt Instrument [Line Items]
Debt instrument covenant consolidated leverage ratio														5.25	5.25
Period Three
Debt Instrument [Line Items]
Debt instrument covenant consolidated leverage ratio														4.75	4.75
Secured Debt \| Term Loan A and Revolving Facility
Debt Instrument [Line Items]
Basis spread on variable rate															1.50%
Secured Debt \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage															0.15%
Secured Debt \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage															0.45%
Secured Debt \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate															0.50%
Secured Debt \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate															1.00%
Interest rate during period															0.00%
Secured Debt \| London Interbank Offered Rate (LIBOR) \| Term Loan A and Revolving Facility
Debt Instrument [Line Items]
Basis spread on variable rate															2.50%
Secured Debt \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument [Line Items]
Margin for base rate loans															1.25%
Secured Debt \| London Interbank Offered Rate (LIBOR) \| Maximum
Debt Instrument [Line Items]
Margin for base rate loans															2.75%
Secured Debt \| EURIBOR \| Minimum
Debt Instrument [Line Items]
Margin for base rate loans															0.25%
Secured Debt \| EURIBOR \| Maximum
Debt Instrument [Line Items]
Margin for base rate loans															1.75%
5.125% Senior Notes due 2029
Debt Instrument [Line Items]
Long-term debt, gross												$ 1,200,000,000
Interest rate, stated percentage												5.125%					5.125%
Maximum redeemable percentage												40.00%
5.125% Senior Notes due 2029 \| Prior to April 15, 2025
Debt Instrument [Line Items]
Redemption price, percentage												100.00%
5.125% Senior Notes due 2029 \| On or after April 15; redeemed in 2024 \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount								102.563%
5.125% Senior Notes due 2029 \| On or after April 15; redeemed in 2025 \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount					101.281%
5.125% Senior Notes due 2029 \| On or after April 15; redeemed in 2026 and thereafter \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount			100.00%
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt														$ 523,000,000	$ 523,000,000	380,000,000
Term Loan
Debt Instrument [Line Items]
Total term loan balance outstanding														1,880,000,000	1,880,000,000
Long-term debt														1,778,000,000	1,778,000,000	1,884,000,000
Term Loan \| Secured Debt
Debt Instrument [Line Items]
Secured credit facility maximum borrowing amount														2,055,000,000.000	2,055,000,000.000
Revolving Foreign \| Secured Debt
Debt Instrument [Line Items]
Secured credit facility maximum borrowing amount														$ 400,000,000	$ 400,000,000
5.750% Senior Notes due 2027
Debt Instrument [Line Items]
Interest rate, stated percentage														5.75%	5.75%			5.75%
Long-term debt														$ 500,000,000	$ 500,000,000	500,000,000
Debt maturities																		$ 500,000,000
Percentage of principle amount notes were sold at																		100.00%
5.750% Senior Notes due 2027 \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount							100.00%
5.750% Senior Notes due 2027 \| Twelve month period commencing on September 1, 2024 \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount						100.00%
5.750% Senior Notes due 2027 \| Twelve month period commencing on September 1, 2022
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount										102.875%
5.750% Senior Notes due 2027 \| Twelve month period commencing on September 1, 2023 \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount									101.438%
6.125% Senior Notes due 2029
Debt Instrument [Line Items]
Interest rate, stated percentage														6.125%	6.125%			6.125%
Long-term debt														$ 500,000,000	$ 500,000,000	500,000,000
Debt maturities																		$ 500,000,000
6.125% Senior Notes due 2029 \| Twelve month period commencing on September 1, 2024 \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount						103.063%
6.125% Senior Notes due 2029 \| Twelve Month Period Commencing September 1, 2025 \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount				102.042%
6.125% Senior Notes due 2029 \| Twelve month period commencing on September 1, 2026 \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount		101.021%
6.125% Senior Notes due 2029 \| Twelve month period commencing on September 1, 2027 \| Forecast
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount	100.00%
5.000% Senior Notes due 2028
Debt Instrument [Line Items]
Interest rate, stated percentage													5.00%
Long-term debt													$ 650,000,000	650,000,000	650,000,000	650,000,000
5.000% Senior Notes due 2028 \| From time to time, prior to October 1, 2023
Debt Instrument [Line Items]
Redemption price, percentage													105.00%
5.000% Senior Notes due 2028 \| Twelve Month Period Commencing October 1, 2023
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount													102.50%
5.000% Senior Notes due 2028 \| Twelve Month Period Commencing October 1, 2024
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount													101.25%
5.250% Senior Notes due 2030
Debt Instrument [Line Items]
Interest rate, stated percentage													5.25%
Long-term debt													$ 450,000,000	450,000,000	450,000,000	$ 450,000,000
5.250% Senior Notes due 2030 \| From time to time, prior to October 1, 2023
Debt Instrument [Line Items]
Redemption price, percentage													105.25%
5.250% Senior Notes due 2030 \| Twelve month period commencing on October 1, 2025
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount													102.625%
5.250% Senior Notes due 2030 \| Twelve Month Period Commencing October 1, 2026
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount													101.75%
5.250% Senior Notes due 2030 \| Twelve Month Period Commencing October 1, 2027
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount													100.875%
5.250% Senior Notes due 2030 \| Twelve Month Period Commencing October 1, 2028
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount													100.00%
5.000% and 5.250% Senior Notes
Debt Instrument [Line Items]
Percentage of principle amount notes were sold at													100.00%
Aggregate principal amount of Notes required to remaing outstanding													0.55
Date of equity offering offering when paying unsecured debt													180 days
5.000% and 5.250% Senior Notes \| From time to time, prior to October 1, 2023
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount													40.00%
5.000% and 5.250% Senior Notes \| Prior to October 1, 2023
Debt Instrument [Line Items]
Debt instrument redemption price as percentage of principle amount													100.00%
8.125% Senior Notes due 2025
Debt Instrument [Line Items]
Debt maturities											$ 400,000,000
8.125% Senior Notes due 2025 \| Guarantor Subsidiary \| NCR International, Inc.
Debt Instrument [Line Items]
Interest rate, stated percentage											8.125%
Revolving \| Secured Debt
Debt Instrument [Line Items]
Secured credit facility maximum borrowing amount														1,300,000,000	1,300,000,000
Line of Credit \| Banc of America Leasing & Capital, LLC
Debt Instrument [Line Items]
Maximum borrowing capacity														$ 20,000,000	$ 20,000,000
Debt instrument, term														4 years	3 years 8 months 12 days
Line of credit outstanding														$ 12,000,000	$ 12,000,000
Interest rate during period															7.21%

DEBT OBLIGATIONS - Maturities of Long Term Debt (Details) $ in Millions	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
Debt maturities	$ 5,714
2023	104
2024	105
2025	106
2026	2,093
2027	506
Thereafter	$ 2,800

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

TRADE RECEIVABLES FACILITY (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2021
Receivables [Abstract]
Trade receivables securitization facility, term			2 years
Accounts receivable sales agreement amount	$ 300
Accounts receivable, sale	300	$ 300
Trade receivables securitization facility, collateral at period end	$ 321	$ 228

INCOME TAXES - Income from Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
(Loss) Income Before Income Taxes [Abstract]
United States	$ (139)	$ (142)	$ (391)
Foreign	350	426	332
Income (loss) from continuing operations before income taxes	$ 211	$ 284	$ (59)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

INCOME TAXES - Components of Income Tax (Benefit) Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current
Federal	$ 2	$ 5	$ (9)
State	7	5	0
Foreign	79	87	68
Deferred
Federal	13	93	(108)
State	(1)	(8)	(6)
Foreign	48	4	2
Total income tax expense (benefit)	$ 148	$ 186	$ (53)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax (benefit) expense at the U.S. federal tax rate of 21%	$ 44	$ 60	$ (12)
Foreign income tax differential	(8)	4	(14)
Additional U.S. tax on foreign income	7	21	13
State and local income taxes (net of federal effect)	5	2	(4)
Other U.S. permanent book/tax differences	2	3	2
Meals and entertainment expense	2	1	1
Nondeductible transaction costs	1	4	0
Disallowed executive compensation	12	15	10
Gains/losses on internal entity restructuring	0	55	2
Excess benefit/deficit from share-based payments	1	(6)	3
Change in branch tax status	0	1	0
Research and development tax credits	(6)	(6)	(7)
Foreign tax law changes	0	(13)	(4)
Valuation allowances	94	21	(32)
Change in liability for unrecognized tax benefits	(6)	13	(12)
Change in tax estimates for prior periods	(1)	11	0
Other, net	1	0	1
Total income tax expense (benefit)	$ 148	$ 186	$ (53)

INCOME TAXES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Line Items]
Change in U.S. deferred tax assets valuation allowance, amount	$ 48
Valuation allowance against interest expense deduction carryforwards	36
Deferred tax impact of tax law change	14
Internal entity restructuring expense	40
Undistributed earnings of foreign subsidiaries	3,700
Undistributed foreign earnings	152
U.S. federal and foreign tax attribute carryforwards	1,700
Total amount of gross unrecognized tax benefits that would affect NCR's effective tax rate if realized	59
Recognized interest and penalties expense (benefit) associated with uncertain tax positions	1	$ 0	$ 5
Interest and penalties accrued associated with uncertain tax positions	26	$ 30
Minimum
Income Tax Disclosure [Line Items]
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, upper bound	3
Maximum
Income Tax Disclosure [Line Items]
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, upper bound	5
Domestic Tax Authority
Income Tax Disclosure [Line Items]
Tax credit carryforward, amount	$ 200

INCOME TAXES - Deferred Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax assets
Employee pensions and other benefits	$ 139	$ 202
Other balance sheet reserves and allowances	257	233
Tax loss and credit carryforwards	616	656
Capitalized research and development	46	39
Property, plant and equipment	15	18
Lease liabilities	90	101
Other	36	27
Total deferred income tax assets	1,199	1,276
Valuation allowance	(448)	(368)
Net deferred income tax assets	751	908
Deferred income tax liabilities
Intangibles	71	73
Right of use assets	92	101
Capitalized software	27	58
Total deferred income tax liabilities	190	232
Total net deferred income tax assets	$ 561	$ 676

INCOME TAXES - Unrecognized Tax Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross unrecognized tax benefits - January 1	$ 121	$ 103	$ 121
Increases related to tax positions from prior years	3	25	15
Decreases related to tax positions from prior years	(15)	(4)	(6)
Increases related to tax provisions taken during the current year	7	7	6
Settlements with tax authorities	(22)	(2)	(23)
Lapses of statutes of limitation	(7)	(8)	(10)
Total gross unrecognized tax benefits - December 31	$ 87	$ 121	$ 103

STOCK COMPENSATION PLANS - Allocated Compensation, Assumptions and Shares Available (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Restricted stock units	$ 99	$ 123	$ 78
Stock options	17	23	24
Employee stock purchase plan	9	8	6
Stock-based compensation expense	125	154	108
Tax benefit	(14)	(18)	(13)
Total stock-based compensation (net of tax)	$ 111	$ 136	$ 95

STOCK COMPENSATION PLANS - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		12 Months Ended
	Dec. 21, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of shares vested and distributed		$ 117.0	$ 119.0	$ 74.0
Total unrecognized compensation		$ 2.0
Total unrecognized compensation cost, period of recognition		1 year 2 months 12 days
Shares granted (in dollars per share)	$ 29.66		$ 34.00	$ 26.50
Performance-based units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in dollars per share)		$ 37.76
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation		$ 197.0
Shares granted (in dollars per share)		$ 35.08
Weighted average grant date fair value		35.67	$ 32.86
Performance Shares \| Restricted stock units granted February 23, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value		$ 57.67
Performance Shares \| Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Award vesting rights, percentage	50.00%
Weighted average closing stock price per day volume	20 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost, period of recognition		2 months 12 days
Total intrinsic value of all options exercised		$ 7.0	$ 9.0	$ 1.0
Cash received from option exercises		2.0	25.0	2.0
Tax benefit		$ 0.0	1.0	0.0
Shares remain unissued (in shares)		5.5
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		4.0
Employees purchased		$ 29.0	$ 26.0	$ 21.0
Amended Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		10.0
Minimum \| Performance-based units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period		12 months
Minimum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 30.00
Minimum \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Maximum \| Performance-based units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period		48 months
Maximum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 35.81
Maximum \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		10 years
Stock Incentive Plan, 2006
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		27.0
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount on stock purchases		15.00%
Look-back period		3 months
Minimum employee subscription rate		1.00%
Maximum employee subscription rate		10.00%
Employee stock purchase plan, shares purchased (in shares)		1.3	0.8	1.3

STOCK COMPENSATION PLANS - Restricted Stock and Restricted Stock Units (Details) - $ / shares shares in Thousands		12 Months Ended
	Dec. 21, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted Average Grant-Date Fair Value per Unit
Shares granted (in dollars per share)	$ 29.66		$ 34.00	$ 26.50
Restricted Stock
Number of Units
Unvested shares as of January 1 (in shares)		7,922
Shares granted (in shares)		6,284
Shares vested (in shares)		(4,171)
Shares forfeited (in shares)		(958)
Unvested shares as of December 31 (in shares)		9,077	7,922
Weighted Average Grant-Date Fair Value per Unit
Beginning balance (in dollars per share)		$ 32.86
Shares granted (in dollars per share)		35.08
Shares vested (in dollars per share)		27.97
Shares forfeited (in dollars per share)		36.53
Ending balance (in dollars per share)		$ 35.67	$ 32.86

STOCK COMPENSATION PLANS - Composition of Restricted Stock Units (Details) - $ / shares shares in Thousands		12 Months Ended
	Dec. 21, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Grant Date Fair Value (in dollars per share)	$ 29.66		$ 34.00	$ 26.50
Service-based units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units (in shares)		2,667
Weighted Average Grant Date Fair Value (in dollars per share)		$ 30.58
Performance-based units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units (in shares)		3,617
Weighted Average Grant Date Fair Value (in dollars per share)		$ 37.76
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units (in shares)		6,284
Weighted Average Grant Date Fair Value (in dollars per share)		$ 35.08

STOCK COMPENSATION PLANS - Assumptions Used in Determining Fair Value of Stock Units (Details)	12 Months Ended
	Dec. 31, 2022
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Risk-free interest rate	3.90%
Expected volatility	64.93%
Restricted stock units granted February 23, 2021 \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Risk-free interest rate	1.73%
Expected volatility	59.26%

STOCK COMPENSATION PLANS - Stock Options (Details) - Stock Options $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding as of January 1 (in shares) \| shares	9,079
Granted (in shares) \| shares	0
Assumed through acquisition (in shares) \| shares	217
Exercised (in shares) \| shares	(255)
Forfeited or expired (in shares) \| shares	346
Outstanding as of December 31 (in shares) \| shares	8,695
Weighted Average Exercise Price per Share
Outstanding as of January 1 (in dollars per share) \| $ / shares	$ 32.96
Granted (in dollars per share) \| $ / shares	0
Assumed through acquisition (in dollars per share) \| $ / shares	1.21
Exercised (in dollars per share) \| $ / shares	10.00
Forfeited or expired (in dollars per share) \| $ / shares	33.87
Outstanding as of December 31 (in dollars per share) \| $ / shares	$ 32.81
Stock Options Additional Disclosures
Outstanding, Weighted Average Remaining Contratual Term (in years)	3 years 3 months 14 days
Outstanding, Aggregate Intrinsic Value \| $	$ 3,480
Fully vested and expected to vest, Shares Under Option (in shares) \| shares	1,863
Fully vested and expected to vest, Weighted Average Exercise Price per Share (in dollars per share) \| $ / shares	$ 34.08
Fully vested and expected to vest, Weighted Average Remaining Contractual Term (in years)	3 years 11 months 19 days
Fully vested and expected to vest, Aggregate Intrinsic Value \| $	$ 820
Exercisable, Shares Under Option (in shares) \| shares	6,752
Exercisable, Weighted Average Exercise Price per Share (in dollars per share) \| $ / shares	$ 32.43
Exercisable, Weighted Average Remaining Contractual Term (in years)	3 years 1 month 13 days
Exercisable, Aggregate Intrinsic Value dollars per share) \| $	$ 2,670

EMPLOYEE BENEFIT PLANS - Change in Benefit Obligation and Plan Assets, Funded Status, Amounts Recognized in Balance Sheet, and ABO in Excess of Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Separation costs	$ 3	$ 0	$ 0
Total Pension Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation as of January 1	2,987	3,313
Net service cost	5	6	6
Interest cost	(51)	(42)	(64)
Amendment	0	(6)
Actuarial (gain) loss	(631)	(159)
Benefits paid	(168)	(177)
Settlements	(1)	0
Plan participant contributions	0	0
Currency translation adjustments	(78)	(32)
Benefit obligation as of December 31	2,165	2,987	3,313
Accumulated benefit obligation as of December 31	2,158	2,977
U.S. Pension Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation as of January 1	1,882	2,067
Net service cost	0	0	0
Interest cost	(39)	(34)	(51)
Amendment	0	0
Actuarial (gain) loss	(409)	(102)
Benefits paid	(115)	(117)
Settlements	0	0
Plan participant contributions	0	0
Currency translation adjustments	0	0
Benefit obligation as of December 31	1,397	1,882	2,067
Accumulated benefit obligation as of December 31	1,397	1,882
International Pension Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation as of January 1	1,105	1,246
Net service cost	5	6	6
Interest cost	(12)	(8)	(13)
Amendment	0	(6)
Actuarial (gain) loss	(222)	(57)
Benefits paid	(53)	(60)
Settlements	(1)	0
Plan participant contributions	0	0
Currency translation adjustments	(78)	(32)
Benefit obligation as of December 31	768	1,105	1,246
Accumulated benefit obligation as of December 31	761	1,095
Postretirement Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation as of January 1	14	16
Interest cost	0	0	0
Actuarial (gain) loss	(6)	(1)
Benefits paid	(1)	(1)
Plan participant contributions	0	0
Benefit obligation as of December 31	7	14	16
Postemployment Benefit Plans Defined Benefit
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation as of January 1	138	138
Net service cost	71	24	42
Interest cost	(3)	(2)	(3)
Actuarial (gain) loss	(14)	7
Benefits paid	(32)	(26)
Currency translation adjustments	(8)	(7)
Benefit obligation as of December 31	158	$ 138	$ 138
Separation costs	$ 56

EMPLOYEE BENEFIT PLANS - Change in Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets as of January 1	$ 990	$ 1,379	$ 1,528
Actual return on plan assets	(324)	(32)
Company contributions	50	0
Benefits paid	(115)	(117)
Settlement	0	0
Currency translation adjustments	0	0
Plan participant contributions	0	0
Fair value of plan assets as of December 31	990	1,379
International Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets as of January 1	760	1,106	1,118
Actual return on plan assets	(225)	47
Company contributions	17	17
Benefits paid	(53)	(60)
Settlement	(1)	0
Currency translation adjustments	(84)	(16)
Plan participant contributions	0	0
Fair value of plan assets as of December 31	760	1,106
Total Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets as of January 1	1,750	2,485	$ 2,646
Actual return on plan assets	(549)	15
Company contributions	67	17
Benefits paid	(168)	(177)
Settlement	(1)	0
Currency translation adjustments	(84)	(16)
Plan participant contributions	0	0
Fair value of plan assets as of December 31	$ 1,750	$ 2,485

EMPLOYEE BENEFIT PLANS - Reconciliation of Funded Status (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	$ 212	$ 300
U.S. Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded Status	(407)	(503)
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	0	0
Current liabilities	0	0
Noncurrent liabilities	(407)	(503)
Net amounts recognized	(407)	(503)
Amounts recognized in accumulated other comprehensive loss
Prior service cost	0	0
Total	0	0
International Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded Status	(8)	1
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	212	300
Current liabilities	(13)	(13)
Noncurrent liabilities	(207)	(286)
Net amounts recognized	(8)	1
Amounts recognized in accumulated other comprehensive loss
Prior service cost	13	17
Total	13	17
Total Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded Status	(415)	(502)
Amounts recognized in the Consolidated Balance Sheets
Noncurrent assets	212	300
Current liabilities	(13)	(13)
Noncurrent liabilities	(614)	(789)
Net amounts recognized	(415)	(502)
Amounts recognized in accumulated other comprehensive loss
Prior service cost	13	17
Total	13	17
Postemployment Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded Status	(158)	(138)
Amounts recognized in the Consolidated Balance Sheets
Current liabilities	(73)	(32)
Noncurrent liabilities	(85)	(106)
Net amounts recognized	(158)	(138)
Amounts recognized in accumulated other comprehensive loss
Net actuarial gain	(37)	(19)
Prior service cost	(4)	(6)
Total	(41)	(25)
Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Funded Status	(7)	(14)
Amounts recognized in the Consolidated Balance Sheets
Current liabilities	(2)	(1)
Noncurrent liabilities	(5)	(13)
Net amounts recognized	(7)	(14)
Amounts recognized in accumulated other comprehensive loss
Net actuarial gain	(6)	5
Prior service cost	0	0
Total	$ (6)	$ 5

EMPLOYEE BENEFIT PLANS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 1,584	$ 2,151
Accumulated benefit obligation	1,582	2,149
Plan assets	$ 992	$ 1,382
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Weighted-average interest crediting rate	2.10%	1.10%
International Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions, next fiscal year	$ 20
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions, next fiscal year	2
Postemployment Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions, next fiscal year	75
Defined Contribution, U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost	37	$ 31	$ 32
Defined Contribution, All Other Plans
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost	$ 33	$ 31	$ 25

EMPLOYEE BENEFIT PLANS - Net Periodic Benefit (Income) Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net service cost	$ 5	$ 6	$ 6
Interest cost	51	42	64
Expected return on plan assets	(93)	(55)	(64)
Amortization of prior service cost	0	1	1
Actuarial (gain) loss	8	(118)	34
Net periodic benefit (income) cost	(29)	(124)	41
U.S. Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net service cost	0	0	0
Interest cost	39	34	51
Expected return on plan assets	(66)	(30)	(36)
Amortization of prior service cost	0	0	0
Actuarial (gain) loss	(20)	(40)	18
Net periodic benefit (income) cost	(47)	(36)	33
International Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net service cost	5	6	6
Interest cost	12	8	13
Expected return on plan assets	(27)	(25)	(28)
Amortization of prior service cost	0	1	1
Actuarial (gain) loss	28	(78)	16
Net periodic benefit (income) cost	18	(88)	8
Postretirement Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	0	0	0
Amortization of prior service cost	0	0	(3)
Actuarial (gain) loss	(1)	1	1
Net periodic benefit (income) cost	1	1	(2)
Postemployment Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net service cost	71	24	42
Interest cost	3	2	3
Amortization of prior service cost	(2)	(2)	(2)
Actuarial (gain) loss	(1)	(4)	(4)
Net periodic benefit cost	$ 71	$ 20	$ 39

EMPLOYEE BENEFIT PLANS - Assumptions, Market-Related Value, and Unrecognized Loss (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.30%	2.70%
Discount rate - Interest Cost	2.10%
Discount rate - Interest Cost		1.70%	2.70%
Expected return on plan assets	5.00%	2.10%	2.80%
International Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.80%	1.40%
Rate of compensation increase	1.80%	1.40%
Discount rate - Service Cost	0.90%	0.40%	0.70%
Discount rate - Interest Cost	1.20%	0.70%	1.20%
Expected return on plan assets	2.70%	2.20%	2.60%
Rate of compensation increase	1.40%	0.90%	0.90%
Total Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.80%	2.20%
Rate of compensation increase	1.80%	1.40%
Discount rate - Service Cost	0.90%	0.40%	0.70%
Discount rate - Interest Cost	1.80%	1.30%	2.10%
Expected return on plan assets	4.00%	2.10%	2.70%
Rate of compensation increase	1.40%	0.90%	0.90%
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.20%	1.90%	1.40%
Discount rate - Interest Cost	1.90%	1.40%	2.50%
Postemployment Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.10%	1.40%
Rate of compensation increase	3.10%	2.00%
Discount rate - Interest Cost	2.30%	2.30%	1.80%
Rate of compensation increase	2.60%	2.60%	1.80%
Involuntary turnover rate	3.80%	3.80%
Involuntary turnover rate	3.80%	3.80%	3.80%

EMPLOYEE BENEFIT PLANS - Healthcare Trend Rate (Details) - Postretirement Benefits	Dec. 31, 2022	Dec. 31, 2021
Pre-65 Coverage
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Healthcare cost trend rate assumed for next year	7.50%	6.30%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.00%	5.00%
Post-65 Coverage
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Healthcare cost trend rate assumed for next year	7.00%	5.70%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.00%	5.00%

EMPLOYEE BENEFIT PLANS - Reconciliation of Plan Assets in Level 3 Fair Value Hierarchy (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
International Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets as of January 1	$ 760	$ 1,106	$ 1,118
Fair value of plan assets as of December 31	760	1,106
U.S. Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets as of January 1	990	1,379	1,528
Fair value of plan assets as of December 31	990	1,379
Significant Unobservable Inputs (Level 3) \| International Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets as of January 1	154	151	$ 152
Realized and unrealized gains and losses, net	(3)	(1)
Purchases, sales and settlements, net	0	0
Transfers, net	0	0
Fair value of plan assets as of December 31	154	151
Significant Unobservable Inputs (Level 3) \| U.S. Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets as of January 1	0	0
Fair value of plan assets as of December 31	$ 0	$ 0

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

EMPLOYEE BENEFIT PLANS - Estimated Future Benefit Payments (Details) $ in Millions	Dec. 31, 2022 USD ($)
Total Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2023	$ 153
2024	158
2025	157
2026	158
2027	159
2028-2032	774
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2023	105
2024	107
2025	108
2026	109
2027	110
2028-2032	539
International Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2023	48
2024	51
2025	49
2026	49
2027	49
2028-2032	235
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
2023	2
2024	1
2025	1
2026	1
2027	1
2028-2032	2
Postemployment Benefits
Defined Benefit Plan Disclosure [Line Items]
2023	75
2024	17
2025	16
2026	15
2027	15
2028-2032	$ 65

EMPLOYEE BENEFIT PLANS - Amounts to be Recognized (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amortization of prior service cost	$ 0	$ 1	$ 1
Actuarial (gain) loss	(631)	(159)
Prior service cost (benefit)	0
Actuarial loss (gain)	0
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amortization of prior service cost	0	0	0
Actuarial (gain) loss	(409)	(102)
Prior service cost (benefit)	0
Actuarial loss (gain)	0
International Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amortization of prior service cost	0	1	1
Actuarial (gain) loss	(222)	(57)
Prior service cost (benefit)	0
Actuarial loss (gain)	0
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Amortization of prior service cost	0	0	(3)
Actuarial (gain) loss	(6)	(1)
Prior service cost (benefit)	0
Actuarial loss (gain)	0
Postemployment Benefits
Defined Benefit Plan Disclosure [Line Items]
Amortization of prior service cost	(2)	(2)	$ (2)
Actuarial (gain) loss	(14)	$ 7
Prior service cost (benefit)	(2)
Actuarial loss (gain)	$ (3)

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Millions			1 Months Ended	12 Months Ended
	Oct. 27, 2022 USD ($)	Mar. 29, 2018 USD ($) company	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) entity company	Feb. 27, 2023 USD ($)	Dec. 31, 2013 company	Dec. 31, 2010 defendant affiliateCorporation
Loss Contingencies [Line Items]
Ebina waste disposal percentage; low concentration				96.00%
Ebina waste disposal percentage; high concentration				62.00%
Insurance recoveries			$ 3.0	$ 7.0
Minimum \| Kalamazoo River Site
Loss Contingencies [Line Items]
Anticipated contribution from co-obligors and indemnitors				70.0
Maximum \| Kalamazoo River Site
Loss Contingencies [Line Items]
Anticipated contribution from co-obligors and indemnitors				$ 155.0
Fox River Site
Loss Contingencies [Line Items]
Number of potentially responsible parties \| entity				8
Percentage of funding obligation under cost sharing agreement				50.00%
Percentage of obligation under cost sharing agreement				60.00%
Receivable under funding agreement			54.0	$ 54.0
Gross loss contingency accrual			4.0	0.0
Net loss contingency accrual			22.0	22.0
Total amount received from settlements with insurance carriers				$ 212.0
Kalamazoo River Site
Loss Contingencies [Line Items]
Number of additional companies receiving general notice letters \| company				3
Number of additional defendants \| defendant							2
Number of total corporation plaintiffs \| affiliateCorporation							3
Number of companies tried to the court \| company						4
GP Costs incurred in the pasted related to Kalamazoo		$ 50.0
Loss contingency, value of damages sought		105.0
Loss contingency, value of damages sought		$ 55.0
NCR share of costs related to loss contingency		40.00%
NCR Share of Costs related to Kalamazoo		40.00%
Number of companies assigned to share costs of loss contingency \| company		2
Loss contingency accrual			99.0	$ 90.0
Kalamazoo River Site \| Company One
Loss Contingencies [Line Items]
NCR Share of Costs related to Kalamazoo		15.00%
Kalamazoo River Site \| Company Two
Loss Contingencies [Line Items]
NCR Share of Costs related to Kalamazoo		5.00%
Ebina
Loss Contingencies [Line Items]
Loss contingency accrual			$ 16.0	$ 7.0
Cloud of Change LLC
Loss Contingencies [Line Items]
Ruling against the Company	$ 13.0
Cloud of Change LLC \| Subsequent Event
Loss Contingencies [Line Items]
Loss contingency, range of possible loss					$ 13.0

COMMITMENTS AND CONTINGENCIES - Warranty Reserve Detail (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Beginning balance as of January 1	$ 19	$ 18	$ 21
Accruals for warranties issued	25	28	30
Settlements (in cash or in kind)	31	27	33
Ending balance as of December 31	$ 13	$ 19	$ 18

LEASING - Lease Balances at Balance Sheet Date (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net	Property, plant and equipment, net
Operating lease assets	$ 371	$ 419
Finance lease assets	61	62
Accumulated Amortization of Finance lease assets	50	35
Total leased assets	$ 382	$ 446
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Operating lease liabilities	$ 79	$ 97
Finance lease liabilities	10	16
Operating lease liabilities	353	388
Finance lease liabilities	3	13
Total lease liabilities	$ 445	$ 514
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities

LEASING - Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
LEASING - Lease Costs (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 116	$ 131	$ 125
Amortization of leased assets	15	17	13
Interest on lease liabilities	1	1	1
Short-Term lease cost	3	3	5
Variable lease cost	24	24	27
Total lease cost	$ 159	$ 176	$ 171

LEASING - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 120	$ 133	$ 128
Operating cash flows from finance leases	1	1	2
Financing cash flows from finance leases	15	17	13
Operating Leases	21	163	31
Finance Leases	$ 0	$ 2	$ 15

LEASING - Present Value of Lease Liabilities (Details) $ in Millions	Dec. 31, 2022 USD ($)
Operating Leases
2023	$ 102
2024	77
2025	60
2026	49
2027	45
Thereafter	215
Total lease payments	548
Less: Amount representing interest	116
Present value of lease liabilities	432
Finance Leases
2023	10
2024	3
2025	0
2026	0
2027	0
Thereafter	0
Total lease payments	13
Less: Amount representing interest	0
Present value of lease liabilities	$ 13

LEASING - Weighted Average Lease Term and Interest Rates (Details)	Dec. 31, 2022	Dec. 31, 2021
Weighted Average Lease Term [Abstract]
Operating leases	7 years 10 months 24 days	8 years 4 months 24 days
Finance leases	1 year 2 months 12 days	2 years
Weighted Average Interest Rates [Abstract]
Operating leases	5.79%	5.70%
Finance leases	3.56%	3.78%

SERIES A PREFERRED STOCK - Additional Information (Details) - USD ($)			12 Months Ended
	Oct. 06, 2020	Sep. 18, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Oct. 12, 2020	Dec. 04, 2018	Mar. 17, 2017	Dec. 04, 2015
Class of Stock [Line Items]
Temporary equity, shares issued (in shares)			300,000	300,000
Deemed dividend from redemption of Series A preferred stock	$ (12,000,000)		$ (67,000,000)
Preferred stock, liquidation preference (in dollars per share)			$ 1,000
Dividends, paid-in-kind			$ 0	$ 0	$ 10,000,000
Dividends, cash			$ 15,000,000	$ 15,000,000	$ 9,000,000
Redemption, share price threshold							$ 54.00
Trading days							30 days
Consecutive trading days							45 days
Preferred stock, liquidation preference			100.00%
Redemption value discount rate			10.00%
Convertible Preferred Stock
Class of Stock [Line Items]
Temporary equity, shares issued (in shares)									820,000
Aggregate purchase price									$ 820,000,000
Stated value of preferred shares (in dollars per share)									$ 1,000
Direct issuance expenses									$ 26,000,000
Secondary offering by the preferred shareholders (in shares)								342,000
Redeemed shares of preferred stock (in shares)	67,000	512,221				65,365		90,000
Repurchase price per share of common stock upon conversion (in dollars per share)								$ 48.47
Blackstone shares converted into common shares (in shares)		237,673
Cash paid for the redemption of preferred stock	$ 72,000,000	$ 302,000,000				$ 72,000,000
Conversion of convertible securities (in shares)		9,200,000
Conversion price per preferred share (in dollars per share)		$ 30.00
Dividend rate for preferred shares									5.50%
Dividend rate for preferred shares; accrued but unpaid dividend			8.00%
Conversion rate per preferred share			33.333
Financial instruments subject to redemption, settlement terms, maximum number of shares			9,200,000

EARNINGS PER SHARE - Basic Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Income (loss) from continuing operations	$ 64,000,000	$ 97,000,000	$ (7,000,000)
Series A convertible preferred stock dividends	(16,000,000)	(16,000,000)	(31,000,000)
Net income (loss) from continuing operations attributable to NCR common stockholders	48,000,000	81,000,000	(38,000,000)
Loss from discontinued operations, net of tax	(4,000,000)	0	(72,000,000)
Net income (loss) attributable to NCR common stockholders	$ 44,000,000	$ 81,000,000	$ (110,000,000)
Denominator:
Basic (in shares)	136.7	131.2	128.4
Basic earnings (loss) per share:
Basic (in dollars per share)	$ 0.35	$ 0.62	$ (0.30)
From discontinued operations (in dollars per share)	(0.03)	0	(0.56)
Basic (in dollars per share)	$ 0.32	$ 0.62	$ (0.86)

EARNINGS PER SHARE - Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Income (loss) from continuing operations	$ 64,000,000	$ 97,000,000	$ (7,000,000)
Series A convertible preferred stock dividends		(16,000,000)	(31,000,000)
Net income (loss) from continuing operations attributable to NCR common stockholders	48,000,000	81,000,000	(38,000,000)
Loss from discontinued operations, net of tax	(4,000,000)	0	(72,000,000)
Net income (loss) attributable to NCR common stockholders	$ 44,000,000	$ 81,000,000	$ (110,000,000)
Denominator:
Basic (in shares)	136.7	131.2	128.4
Dilutive effect of as-if Series A Convertible Preferred Stock (in shares)	0.0	0.0	0.0
Dilutive effect of employee stock options and restricted stock units (in shares)	4.5	7.8	0.0
Weighted average diluted shares (in shares)	141.2	139.0	128.4
Diluted earnings (loss) per share:
Diluted (in dollars per share)	$ 0.34	$ 0.58	$ (0.30)
From discontinued operations (in dollars per share)	(0.03)	0	(0.56)
Diluted (in dollars per share)	$ 0.31	$ 0.58	$ (0.86)

EARNINGS PER SHARE - Additional Information (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Series A Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	9.2	9.2	9.1
Restricted Stock Units (RSUs) and Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	6.5	4.7	11.2

DERIVATIVES AND HEDGING INSTRUMENTS - Narrative (Details) $ in Millions	1 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) currency	Jan. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Derivative [Line Items]
Number of functional currencies \| currency			45
Maximum period for cash flow hedging activity			15 months
Total stockholders' equity			$ 1,479		$ 1,259
Derivative, notional amount	$ 2,400	$ 2,200
Derivative, fixed interest rate				1.43%
Proceeds from interest rate cap	$ 55	$ 64
Net derivative-related gains reclassified into earnings			45
AOCI Attributable to interest rate derivatives
Derivative [Line Items]
Total stockholders' equity			109		$ 8
Minimum
Derivative [Line Items]
Average variable interest rate	2.79%	2.078%
Maximum
Derivative [Line Items]
Average variable interest rate	3.251%	2.443%
Foreign exchange contracts \| Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Derivative [Line Items]
Total stockholders' equity			$ 0
Swap
Derivative [Line Items]
Derivative, notional amount				$ 250
Terminated Interest Rate Cap
Derivative [Line Items]
Derivative, notional amount	$ 2,400	$ 2,000

DERIVATIVES AND HEDGING INSTRUMENTS - Derivative Fair Values (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 64	$ 19
Derivative liabilities, fair value	$ (2)	$ (1)
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, Prepaid and other current assets	Other assets, Prepaid and other current assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities, Other liabilities
Derivatives designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative asset, notional amount	$ 2,423
Derivative liability, notional amount	0
Derivative assets, fair value	63	$ 18
Derivative liabilities, fair value	0	0
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative asset, notional amount	376
Derivative liability, notional amount	373
Derivative assets, fair value	1	1
Derivative liabilities, fair value	2	(1)
Foreign exchange contracts \| Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative asset, notional amount		278
Derivative liability, notional amount		396
Derivative assets, fair value	1	1
Derivative liabilities, fair value	2	(1)
Interest rate contracts \| Derivatives designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative asset, notional amount		2,000
Derivative liability, notional amount		0
Derivative assets, fair value		18
Derivative liabilities, fair value		$ 0
Interest rate contracts \| Derivatives designated as hedging instruments \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative asset, notional amount
Derivative assets, fair value	36
Interest rate contracts \| Derivatives designated as hedging instruments \| Other Assets
Derivatives, Fair Value [Line Items]
Derivative asset, notional amount
Derivative assets, fair value	27
Interest rate contracts \| Derivatives designated as hedging instruments \| Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	0
Interest rate contracts \| Derivatives designated as hedging instruments \| Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, notional amount
Derivative liabilities, fair value

DERIVATIVES AND HEDGING INSTRUMENTS - Gain (Loss) on Derivatives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Loss (gain) on derivatives arising during the period	$ 18	$ (1)	$ (7)
Interest expense	285	238	218
Service
Derivative Instruments, Gain (Loss) [Line Items]
Cost of products	3,889	3,413	2,950
Product
Derivative Instruments, Gain (Loss) [Line Items]
Cost of products	2,097	1,850	1,733
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense	285	238	218
Interest Rate Contract \| Cost of Sales \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized	116	5	0
Loss (gain) on derivatives arising during the period	(8)	1	0
Interest Rate Contract \| Interest Expense \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized	36	4	0
Loss (gain) on derivatives arising during the period	(10)	0	0
Foreign exchange contracts \| Cost of Products \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized	0	0	(8)
Loss (gain) on derivatives arising during the period	$ 0	$ 0	$ 7

DERIVATIVES AND HEDGING INSTRUMENTS - Gain (Loss) on Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other (Expense) Income, Net \| Foreign exchange contracts
Derivative [Line Items]
Amount of Gain (Loss) Recognized in the Consolidated Statements of Operations	$ (31)	$ (24)	$ 22

FAIR VALUE OF ASSETS AND LIABILITIES (Details) - Fair Value, Recurring - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deposits held in money market mutual funds	$ 16	$ 17
Foreign exchange contracts	0	0
Interest rate cap agreements	0	0
Total	16	17
Foreign exchange contracts	0	0
Total	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deposits held in money market mutual funds	0	0
Foreign exchange contracts	1	1
Interest rate cap agreements	63	18
Total	64	19
Foreign exchange contracts	2	1
Total	2	1
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deposits held in money market mutual funds	0	0
Foreign exchange contracts	0	0
Interest rate cap agreements	0	0
Total	0	0
Foreign exchange contracts	0	0
Total	0	0
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deposits held in money market mutual funds	16	17
Foreign exchange contracts	1	1
Interest rate cap agreements	63	18
Total	80	36
Foreign exchange contracts	2	1
Total	$ 2	$ 1

FAIR VALUE OF ASSETS AND LIABILITIES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Transformation and restructuring costs	$ 0	$ 0	$ 7

ACCUMULATED OTHER COMPREHENSIVE INCOME - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	$ (291)
Other comprehensive income (loss)	(12)	$ (20)	$ (2)
Accumulated other comprehensive income (loss), ending balance	(300)	(291)
Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	(275)	(245)	(260)
Other comprehensive (loss) income before reclassifications	(129)	(30)	15
Amounts reclassified from AOCI	0	0	0
Other comprehensive income (loss)	(129)	(30)	15
Accumulated other comprehensive income (loss), ending balance	(404)	(275)	(245)
Changes in Employee Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	(24)	(26)	(10)
Other comprehensive (loss) income before reclassifications	21	4	(11)
Amounts reclassified from AOCI	(2)	(2)	(5)
Other comprehensive income (loss)	19	2	(16)
Accumulated other comprehensive income (loss), ending balance	(5)	(24)	(26)
Changes in Fair Value of Effective Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	8	0	1
Other comprehensive (loss) income before reclassifications	117	7	(7)
Amounts reclassified from AOCI	(16)	1	6
Other comprehensive income (loss)	101	8	(1)
Accumulated other comprehensive income (loss), ending balance	109	8	0
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	(291)	(271)	(269)
Other comprehensive (loss) income before reclassifications	9	(19)	(3)
Amounts reclassified from AOCI	(18)	(1)	1
Other comprehensive income (loss)	(9)	(20)	(2)
Accumulated other comprehensive income (loss), ending balance	$ (300)	$ (291)	$ (271)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME - Reclassifications (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	$ 1,152	$ 1,151	$ 1,069
Research and development expenses	217	268	234
Interest expense	285	238	218
Income (loss) from continuing operations before income taxes	(211)	(284)	59
Income tax expense (benefit)	148	186	(53)
Income (loss) from continuing operations	(63)	(98)	6
Reclassification out of Accumulated Other Comprehensive Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	0	(1)	(3)
Research and development expenses	0	1	0
Interest expense	(10)
Income (loss) from continuing operations before income taxes	(20)	(1)	0
Income tax expense (benefit)	2	0	1
Income (loss) from continuing operations	(18)	(1)	1
Reclassification out of Accumulated Other Comprehensive Income \| Actuarial Losses Recognized
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	1	(1)	(1)
Research and development expenses	0	0	0
Interest expense	0
Income (loss) from continuing operations before income taxes	0	(1)	(3)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of Prior Service Benefit
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	(1)	0	(2)
Research and development expenses	0	1	0
Interest expense	0
Income (loss) from continuing operations before income taxes	(2)	(1)	(4)
Reclassification out of Accumulated Other Comprehensive Income \| Changes in Fair Value of Effective Cash Flow Hedges
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	0	0	0
Research and development expenses	0	0	0
Interest expense	(10)
Income (loss) from continuing operations before income taxes	(18)	1	7
Product
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	2,097	1,850	1,733
Product \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	0	0	7
Product \| Reclassification out of Accumulated Other Comprehensive Income \| Actuarial Losses Recognized
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	0	0	0
Product \| Reclassification out of Accumulated Other Comprehensive Income \| Amortization of Prior Service Benefit
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	0	0	0
Product \| Reclassification out of Accumulated Other Comprehensive Income \| Changes in Fair Value of Effective Cash Flow Hedges
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	0	0	7
Service
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	3,889	3,413	2,950
Service \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	(10)	(1)	(4)
Service \| Reclassification out of Accumulated Other Comprehensive Income \| Actuarial Losses Recognized
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	(1)	0	(2)
Service \| Reclassification out of Accumulated Other Comprehensive Income \| Amortization of Prior Service Benefit
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	(1)	(2)	(2)
Service \| Reclassification out of Accumulated Other Comprehensive Income \| Changes in Fair Value of Effective Cash Flow Hedges
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of products	$ (8)	$ 1	$ 0

ACCUMULATED OTHER COMPREHENSIVE INCOME - Narrative (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Estimated goodwill	$ 4,540.0				$ 4,540.0	$ 4,519.0	$ 2,837.0
Accumulated other comprehensive loss	(300.0)				(300.0)	(291.0)
Other comprehensive income (loss)					(12.0)	(20.0)	(2.0)
Net income (loss)					59.0	$ 98.0	$ (78.0)
Revision of Prior Period, Error Correction, Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Estimated goodwill	(39.0)				(39.0)
Accumulated other comprehensive loss	39.0				39.0
Other comprehensive income (loss)	$ 39.0	$ 19.0	$ 12.0	$ 8.0
Net income (loss)					$ 0.0

- Definition

+ References + Details

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

SUPPLEMENTAL FINANCIAL INFORMATION - Other (Expense) Income (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Financial Information [Abstract]
Interest income				$ 13	$ 8	$ 8
Foreign currency fluctuations and foreign exchange contracts				(17)	(22)	(14)
Employee benefit plans				33	131	(31)
Bank-related fees				(9)	(27)	(5)
Impairment of equity investment				0	0	(7)
Bargain purchase gain on acquisition				0	0	7
Other, net				(13)	0	0
Total other income (expense), net				7	90	(42)
Remeasurement of pension plan assets and liabilities	$ 8	$ 118	$ 34	$ 8	$ 118	$ 34

SUPPLEMENTAL FINANCIAL INFORMATION - Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Inventories
Work in process and raw materials	$ 107	$ 184
Finished goods	252	185
Service parts	413	385
Total inventories	$ 772	$ 754

SUPPLEMENTAL FINANCIAL INFORMATION - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Property, plant and equipment	$ 1,601	$ 1,505
Finance lease assets	61	62
Less: accumulated depreciation	(938)	(802)
Property, plant and equipment, net	663	703
Land and improvements
Class of Stock [Line Items]
Property, plant and equipment	3	3
Buildings and improvements
Class of Stock [Line Items]
Property, plant and equipment	280	298
Machinery and other equipment
Class of Stock [Line Items]
Property, plant and equipment	$ 1,257	$ 1,142

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Allowance, Credit Loss
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 24	$ 51	$ 44
Charged to Costs & Expenses	23	2	33
Charged to Other Accounts	0	0	0
Deductions	13	29	26
Balance at End of Period	34	24	51
Deferred Tax Asset Valuation Allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	368	341	352
Charged to Costs & Expenses	133	45	26
Charged to Other Accounts	23	21	10
Deductions	76	39	47
Balance at End of Period	$ 448	$ 368	$ 341

EMPLOYEE BENEFIT PLANS - Actual and Target Allocations (Details)	Dec. 31, 2022	Dec. 31, 2021
U.S. Pension Benefits
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	100.00%	100.00%
U.S. Pension Benefits \| Equity and other investments (1)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	61.00%	14.00%
U.S. Pension Benefits \| Debt securities (2)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	20.00%	84.00%
U.S. Pension Benefits \| Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	0.00%	0.00%
U.S. Pension Benefits \| Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	19.00%	2.00%
International Pension Benefits
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	100.00%	100.00%
International Pension Benefits \| Equity and other investments (1)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	21.00%	23.00%
International Pension Benefits \| Debt securities (2)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	45.00%	51.00%
International Pension Benefits \| Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	20.00%	14.00%
International Pension Benefits \| Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Actual Allocation of Plan Assets as of December 31	14.00%	12.00%
Minimum \| U.S. Pension Benefits \| Equity and other investments (1)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	60.00%
Minimum \| U.S. Pension Benefits \| Debt securities (2)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	5.00%
Minimum \| U.S. Pension Benefits \| Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	0.00%
Minimum \| U.S. Pension Benefits \| Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	10.00%
Minimum \| International Pension Benefits \| Equity and other investments (1)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	10.00%
Minimum \| International Pension Benefits \| Debt securities (2)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	50.00%
Minimum \| International Pension Benefits \| Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	10.00%
Minimum \| International Pension Benefits \| Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	5.00%
Maximum \| U.S. Pension Benefits \| Equity and other investments (1)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	85.00%
Maximum \| U.S. Pension Benefits \| Debt securities (2)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	20.00%
Maximum \| U.S. Pension Benefits \| Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	20.00%
Maximum \| U.S. Pension Benefits \| Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	30.00%
Maximum \| International Pension Benefits \| Equity and other investments (1)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	30.00%
Maximum \| International Pension Benefits \| Debt securities (2)
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	70.00%
Maximum \| International Pension Benefits \| Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	20.00%
Maximum \| International Pension Benefits \| Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target Asset Allocation (3)	15.00%