Teradata (TDC) 10-Q8 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares shares in Millions	6 Months Ended
Cover - shares shares in Millions	Jun. 30, 2023	Jul. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-33458
Entity Registrant Name	TERADATA CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-3236470
Entity Address, Address Line One	17095 Via Del Campo
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92127
City Area Code	866
Local Phone Number	548-8348
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	TDC
Security Exchange Name	NYSE
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		99.9
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000816761
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue
Revenue	$ 462	$ 430	$ 938	$ 926
Cost of revenue
Cost of revenue	186	172	360	367
Gross profit	276	258	578	559
Operating expenses
Selling, general and administrative expenses	167	163	320	320
Research and development expenses	76	81	146	157
Total operating expenses	243	244	466	477
Income from operations	33	14	112	82
Other expense, net
Interest expense	(7)	(5)	(14)	(11)
Interest income	8	3	15	5
Other expense	(10)	(12)	(31)	(21)
Total other expense, net	(9)	(14)	(30)	(27)
Income before income taxes	24	0	82	55
Income tax expense	7	4	25	23
Net income (loss)	$ 17	$ (4)	$ 57	$ 32
Net income (loss) per common share
Basic (in dollars per share)	$ 0.17	$ (0.04)	$ 0.56	$ 0.31
Diluted (in dollars per share)	$ 0.17	$ (0.04)	$ 0.55	$ 0.30
Weighted average common shares outstanding
Basic (in shares)	101	103.5	101.2	104.2
Diluted (in shares)	102.9	103.5	103.3	107.1
Total recurring
Revenue
Revenue	$ 371	$ 345	$ 760	$ 731
Cost of revenue
Cost of revenue	107	96	205	201
Subscription software licenses
Revenue
Revenue	70	65	174	158
Cost of revenue
Cost of revenue	5	5	11	12
Services and other
Revenue
Revenue	301	280	586	573
Cost of revenue
Cost of revenue	102	91	194	189
Perpetual software licenses, hardware and other
Revenue
Revenue	13	8	26	34
Cost of revenue
Cost of revenue	12	6	23	24
Consulting services
Revenue
Revenue	78	77	152	161
Cost of revenue
Cost of revenue	$ 67	$ 70	$ 132	$ 142

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 17	$ (4)	$ 57	$ 32
Other comprehensive income (loss):
Foreign currency translation adjustments	(3)	(24)	0	(25)
Unrealized loss on cross-currency net investment hedge, before tax	(2)	(1)	(3)	(1)
Unrealized loss on cross-currency net investment hedge, tax portion	0	0	0	0
Total currency translation adjustments	(5)	(25)	(3)	(26)
Derivatives:
Unrealized gain (loss) on derivatives, before tax	9	(3)	3	5
Unrealized gain (loss) on derivatives, tax portion	(2)	1	(1)	(1)
Unrealized gain (loss) on derivatives, net of tax	7	(2)	2	4
Defined benefit plans:
Defined benefit plan adjustment, before tax	2	2	4	5
Defined benefit plan adjustment, tax portion	(1)	(1)	(1)	(2)
Defined benefit plan adjustment, net of tax	1	1	3	3
Other comprehensive income (loss)	3	(26)	2	(19)
Comprehensive income (loss)	$ 20	$ (30)	$ 59	$ 13

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 504	$ 569
Accounts receivable, net	265	364
Inventories	9	8
Other current assets	102	87
Total current assets	880	1,028
Property and equipment, net	250	244
Right of use assets - operating lease, net	11	13
Goodwill	390	390
Capitalized contract costs, net	76	92
Deferred income taxes	205	213
Other assets	57	42
Total assets	1,869	2,022
Current liabilities
Current portion of long-term debt	6	0
Current portion of finance lease liability	70	67
Current portion of operating lease liability	7	8
Accounts payable	113	94
Payroll and benefits liabilities	100	137
Deferred revenue	526	589
Other current liabilities	88	112
Total current liabilities	910	1,007
Long-term debt	492	498
Finance lease liability	70	54
Operating lease liability	8	10
Pension and other postemployment plan liabilities	96	101
Long-term deferred revenue	7	8
Deferred tax liabilities	6	7
Other liabilities	62	79
Total liabilities	1,651	1,764
Commitments and contingencies (Note 8)
Stockholders’ equity
Preferred stock: par value $0.01 per share, 100.0 shares authorized, no shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	0	0
Common stock: par value $0.01 per share, 500.0 shares authorized, 100.6 and 101.1 shares issued at June 30, 2023 and December 31, 2022, respectively	1	1
Paid-in capital	2,002	1,941
Accumulated deficit	(1,668)	(1,565)
Accumulated other comprehensive loss	(117)	(119)
Total stockholders’ equity	218	258
Total liabilities and stockholders’ equity	$ 1,869	$ 2,022

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	100,600,000	101,100,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net income (loss)	$ 57	$ 32
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	59	73
Stock-based compensation expense	63	63
Deferred income taxes	2	2
Changes in assets and liabilities:
Receivables	99	70
Inventories	(1)	9
Current payables and accrued expenses	(30)	(26)
Deferred revenue	(64)	(38)
Other assets and liabilities	(27)	71
Net cash provided by operating activities	158	256
Investing activities
Expenditures for property and equipment	(6)	(3)
Additions to capitalized software	(1)	(1)
Net cash used in investing activities	(7)	(4)
Financing activities
Repurchases of common stock	(154)	(317)
Proceeds from long-term borrowings	0	500
Repayments of long-term borrowings	0	(413)
Payments of finance leases	(41)	(45)
Other financing activities, net	(1)	1
Net cash used in financing activities	(196)	(274)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(20)	(25)
Decrease in cash, cash equivalents and restricted cash	(65)	(47)
Cash, cash equivalents and restricted cash at beginning of period	571	595
Cash, cash equivalents and restricted cash at end of period	506	548
Supplemental cash flow disclosure:
Assets acquired under operating lease	4	1
Assets acquired under finance lease	59	34
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets:
Cash and cash equivalents	504
Restricted cash	2
Total cash, cash equivalents and restricted cash	$ 506	$ 548

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Shares issued, beginning balance (in shares) at Dec. 31, 2021		107
Stockholders’ equity, beginning balance at Dec. 31, 2021	$ 460	$ 1	$ 1,808	$ (1,211)	$ (138)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	36			36
Employee stock compensation, employee stock purchase programs and option exercises, net of tax (in shares)		3
Employee stock compensation, employee stock purchase programs and option exercises, net of tax	34		34
Repurchases of common stock	(50)		(50)
Repurchases of common stock, retired (in shares)		(5)
Repurchases of common stock, retired	(250)			(250)
Pension and postemployment benefit plans, net of tax	2				2
Unrealized loss on derivatives, net of tax	6				6
Currency translation adjustment	(1)				(1)
Shares issued, ending balance (in shares) at Mar. 31, 2022		105
Stockholders’ equity, ending balance at Mar. 31, 2022	237	$ 1	1,792	(1,425)	(131)
Shares issued, beginning balance (in shares) at Dec. 31, 2021		107
Stockholders’ equity, beginning balance at Dec. 31, 2021	460	$ 1	1,808	(1,211)	(138)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	32
Pension and postemployment benefit plans, net of tax	3
Unrealized loss on derivatives, net of tax	4
Shares issued, ending balance (in shares) at Jun. 30, 2022		103
Stockholders’ equity, ending balance at Jun. 30, 2022	222	$ 1	1,874	(1,496)	(157)
Shares issued, beginning balance (in shares) at Mar. 31, 2022		105
Stockholders’ equity, beginning balance at Mar. 31, 2022	237	$ 1	1,792	(1,425)	(131)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(4)			(4)
Employee stock compensation, employee stock purchase programs and option exercises, net of tax	32		32
Repurchases of common stock	50		50
Repurchases of common stock, retired (in shares)		(2)
Repurchases of common stock, retired	(67)			(67)
Pension and postemployment benefit plans, net of tax	1				1
Unrealized loss on derivatives, net of tax	(2)				(2)
Currency translation adjustment	(25)				(25)
Shares issued, ending balance (in shares) at Jun. 30, 2022		103
Stockholders’ equity, ending balance at Jun. 30, 2022	222	$ 1	1,874	(1,496)	(157)
Shares issued, beginning balance (in shares) at Dec. 31, 2022		101
Stockholders’ equity, beginning balance at Dec. 31, 2022	258	$ 1	1,941	(1,565)	(119)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	40			40
Employee stock compensation, employee stock purchase programs and option exercises, net of tax (in shares)		3
Employee stock compensation, employee stock purchase programs and option exercises, net of tax	21		21
Repurchases of common stock, retired (in shares)		(2)
Repurchases of common stock, retired	(88)			(88)
Pension and postemployment benefit plans, net of tax	2				2
Unrealized loss on derivatives, net of tax	(5)				(5)
Currency translation adjustment	2				2
Shares issued, ending balance (in shares) at Mar. 31, 2023		102
Stockholders’ equity, ending balance at Mar. 31, 2023	230	$ 1	1,962	(1,613)	(120)
Shares issued, beginning balance (in shares) at Dec. 31, 2022		101
Stockholders’ equity, beginning balance at Dec. 31, 2022	258	$ 1	1,941	(1,565)	(119)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	57
Pension and postemployment benefit plans, net of tax	3
Unrealized loss on derivatives, net of tax	2
Shares issued, ending balance (in shares) at Jun. 30, 2023		100
Stockholders’ equity, ending balance at Jun. 30, 2023	218	$ 1	2,002	(1,668)	(117)
Shares issued, beginning balance (in shares) at Mar. 31, 2023		102
Stockholders’ equity, beginning balance at Mar. 31, 2023	230	$ 1	1,962	(1,613)	(120)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	17			17
Employee stock compensation, employee stock purchase programs and option exercises, net of tax	40		40
Repurchases of common stock, retired (in shares)		(2)
Repurchases of common stock, retired	(72)			(72)
Pension and postemployment benefit plans, net of tax	1				1
Unrealized loss on derivatives, net of tax	7				7
Currency translation adjustment	(5)				(5)
Shares issued, ending balance (in shares) at Jun. 30, 2023		100
Stockholders’ equity, ending balance at Jun. 30, 2023	$ 218	$ 1	$ 2,002	$ (1,668)	$ (117)

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of PresentationThese statements have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC") and, in accordance with those rules and regulations, do not include all information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). In the opinion of management, the condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to fairly state the results of operations, financial position and cash flows of Teradata Corporation ("Teradata" or the "Company") for the interim periods presented herein. The year-end 2022 condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make use of estimates and assumptions that affect the reported amounts and disclosures. Actual results may vary from these estimates. These condensed consolidated interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in Teradata’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the "2022 Annual Report"). The results of operations for any interim period are not necessarily indicative of the results of operations to be expected for the full year.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
New Accounting Pronouncements	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements The Compa ny has assessed the Ac counting Standards Updates and determined that they were not applicable or were not expected to have a material impact on the Company's financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
Revenue from Contracts with Customers	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Disaggregation of Revenue from Contracts with Customers The following table presents a disaggregation of revenue: Three Months Ended June 30, Six Months Ended June 30, in millions 2023 2022 2023 2022 Americas Recurring $ 230 $ 215 $ 486 $ 461 Perpetual software licenses, hardware and other 3 3 8 15 Consulting services 35 31 66 63 Total Americas 268 249 560 539 EMEA Recurring 89 75 176 164 Perpetual software licenses, hardware and other 5 3 12 14 Consulting services 24 25 47 54 Total EMEA 118 103 235 232 APJ Recurring 52 55 98 106 Perpetual software licenses, hardware and other 5 2 6 5 Consulting services 19 21 39 44 Total APJ 76 78 143 155 Total Revenue $ 462 $ 430 $ 938 $ 926 Rental revenue, which is included in recurring revenue in the above table, was as follows: Three Months Ended June 30, Six Months Ended June 30, in millions 2023 2022 2023 2022 Rental revenue* $ 56 $ 45 $ 107 $ 95 *Rental revenue includes hardware maintenance. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, contract assets, and customer advances and deposits (deferred revenue or contract liabilities) on the condensed consolidated balance sheet. Accounts receivable include amounts due from customers that are unconditional. Contract assets relate to the Company’s rights to consideration for goods delivered or services completed and recognized as revenue but billing and the right to receive payment is conditional upon the completion of other performance obligations. Contract assets are included in other current assets on the balance sheet and are transferred to accounts receivable when the rights become unconditional. Deferred revenue consists of advance payments and billings in excess of revenue recognized. Deferred revenue is classified as either current or noncurrent based on the timing of when the Company expects to recognize revenue. These assets and liabilities are reported on a contract-by-contract basis at the end of each reporting period. The following table provides information about receivables, contract assets and deferred revenue from contracts with customers: As of in millions June 30, 2023 December 31, 2022 Accounts receivable, net $ 265 $ 364 Contract assets $ 13 $ 7 Current deferred revenue $ 526 $ 589 Long-term deferred revenue $ 7 $ 8 Revenue recognized during the six months ended June 30, 2023 from amounts included in deferred revenue at the beginning of the period was $310 million. Transaction Price Allocated to Unsatisfied Obligations The following table includes estimated revenue expected to be recognized in the future related to the Company's unsatisfied (or partially satisfied) obligations at June 30, 2023: in millions Total at June 30, 2023 Year 1 Year 2 and Thereafter Remaining unsatisfied obligations $ 2,307 $ 1,390 $ 917 The amounts above represent the price of firm orders for which work has not been performed or goods have not been delivered and exclude unexercised contract options outside the stated contractual term that do not represent material rights to the customer. Although the Company believes that the contract value in the above table is firm, approximately $1,198 million of the amount is under contracts that are subject to customer-only general cancellation for convenience terms that the Company is contractually obligated to perform unless the customer notifies us of cancellation. The Company expects to recognize revenue of approximately $542 million in the next year from contracts that are non-cancelable. The Company believes the inclusion of this information is important to understanding the obligations that the Company is contractually required to perform and provides useful information regarding remaining obligations related to these executed contracts. The Company capitalizes sales commissions and other contract costs that are incremental direct costs of obtaining customer contracts if the expected amortization period of the asset is greater than one year. These costs are recorded in capitalized contract costs, net on the Company’s balance sheet. The capitalized amounts are calculated based on the annual recurring revenue and contract value for individual multi-term contracts. The judgments made in determining the amount of costs incurred include whether the commissions are in fact incremental and would not have occurred absent the customer contract. Costs to obtain a contract are amortized as selling, general and administrative expenses on a straight-line basis over the expected period of benefit, which is typically around four years. These costs are periodically reviewed for impairment. The following table identifies the activity relating to capitalized contract costs: in millions December 31, 2022 Capitalized Amortization June 30, 2023 Capitalized contract costs $ 92 $ 6 $ (22) $ 76 in millions December 31, 2021 Capitalized Amortization June 30, 2022 Capitalized contract costs $ 111 $ 15 $ (31) $ 95

Contract Costs

Contract Costs	6 Months Ended
Contract Costs	Jun. 30, 2023
Capitalized Contract Cost [Abstract]
Contract Costs	Revenue from Contracts with Customers Disaggregation of Revenue from Contracts with Customers The following table presents a disaggregation of revenue: Three Months Ended June 30, Six Months Ended June 30, in millions 2023 2022 2023 2022 Americas Recurring $ 230 $ 215 $ 486 $ 461 Perpetual software licenses, hardware and other 3 3 8 15 Consulting services 35 31 66 63 Total Americas 268 249 560 539 EMEA Recurring 89 75 176 164 Perpetual software licenses, hardware and other 5 3 12 14 Consulting services 24 25 47 54 Total EMEA 118 103 235 232 APJ Recurring 52 55 98 106 Perpetual software licenses, hardware and other 5 2 6 5 Consulting services 19 21 39 44 Total APJ 76 78 143 155 Total Revenue $ 462 $ 430 $ 938 $ 926 Rental revenue, which is included in recurring revenue in the above table, was as follows: Three Months Ended June 30, Six Months Ended June 30, in millions 2023 2022 2023 2022 Rental revenue* $ 56 $ 45 $ 107 $ 95 *Rental revenue includes hardware maintenance. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, contract assets, and customer advances and deposits (deferred revenue or contract liabilities) on the condensed consolidated balance sheet. Accounts receivable include amounts due from customers that are unconditional. Contract assets relate to the Company’s rights to consideration for goods delivered or services completed and recognized as revenue but billing and the right to receive payment is conditional upon the completion of other performance obligations. Contract assets are included in other current assets on the balance sheet and are transferred to accounts receivable when the rights become unconditional. Deferred revenue consists of advance payments and billings in excess of revenue recognized. Deferred revenue is classified as either current or noncurrent based on the timing of when the Company expects to recognize revenue. These assets and liabilities are reported on a contract-by-contract basis at the end of each reporting period. The following table provides information about receivables, contract assets and deferred revenue from contracts with customers: As of in millions June 30, 2023 December 31, 2022 Accounts receivable, net $ 265 $ 364 Contract assets $ 13 $ 7 Current deferred revenue $ 526 $ 589 Long-term deferred revenue $ 7 $ 8 Revenue recognized during the six months ended June 30, 2023 from amounts included in deferred revenue at the beginning of the period was $310 million. Transaction Price Allocated to Unsatisfied Obligations The following table includes estimated revenue expected to be recognized in the future related to the Company's unsatisfied (or partially satisfied) obligations at June 30, 2023: in millions Total at June 30, 2023 Year 1 Year 2 and Thereafter Remaining unsatisfied obligations $ 2,307 $ 1,390 $ 917 The amounts above represent the price of firm orders for which work has not been performed or goods have not been delivered and exclude unexercised contract options outside the stated contractual term that do not represent material rights to the customer. Although the Company believes that the contract value in the above table is firm, approximately $1,198 million of the amount is under contracts that are subject to customer-only general cancellation for convenience terms that the Company is contractually obligated to perform unless the customer notifies us of cancellation. The Company expects to recognize revenue of approximately $542 million in the next year from contracts that are non-cancelable. The Company believes the inclusion of this information is important to understanding the obligations that the Company is contractually required to perform and provides useful information regarding remaining obligations related to these executed contracts. The Company capitalizes sales commissions and other contract costs that are incremental direct costs of obtaining customer contracts if the expected amortization period of the asset is greater than one year. These costs are recorded in capitalized contract costs, net on the Company’s balance sheet. The capitalized amounts are calculated based on the annual recurring revenue and contract value for individual multi-term contracts. The judgments made in determining the amount of costs incurred include whether the commissions are in fact incremental and would not have occurred absent the customer contract. Costs to obtain a contract are amortized as selling, general and administrative expenses on a straight-line basis over the expected period of benefit, which is typically around four years. These costs are periodically reviewed for impairment. The following table identifies the activity relating to capitalized contract costs: in millions December 31, 2022 Capitalized Amortization June 30, 2023 Capitalized contract costs $ 92 $ 6 $ (22) $ 76 in millions December 31, 2021 Capitalized Amortization June 30, 2022 Capitalized contract costs $ 111 $ 15 $ (31) $ 95

Supplemental Financial Informat

Supplemental Financial Information	6 Months Ended
Supplemental Financial Information	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Information	Supplemental Financial Information As of In millions June 30, December 31, Inventories Finished goods $ 7 $ 5 Service parts 2 3 Total inventories $ 9 $ 8 Deferred revenue Deferred revenue, current $ 526 $ 589 Long-term deferred revenue 7 8 Total deferred revenue $ 533 $ 597 Three Months Ended June 30, Six Months Ended June 30, In millions 2023 2022 2023 2022 Other expense Foreign currency losses $ 7 $ 9 $ 25 $ 15 Other 3 3 6 6 Total Other expense $ 10 $ 12 $ 31 $ 21

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax provisions for interim periods are based on estimated annual income tax rates, adjusted to reflect the effects of any significant infrequent or unusual items which are required to be discretely recognized within the current interim period. The Company expects that a majority of its foreign earnings will be repatriated back to the United States ("U.S."). As a result, the effective tax rates in the periods presented are largely based upon the forecasted pre-tax earnings mix and allocation of certain expenses in various taxing jurisdictions where the Company conducts its business. The effective tax rate is as follows: Three Months Ended June 30, Six Months Ended June 30, In millions 2023 2022 2023 2022 Effective tax rate 29.2 % 972.0 % 30.5 % 41.8 % For the three months ended June 30, 2023, the Company had no material discrete tax adjustments. For the six months ended June 30, 2023, the Company recorded $2 million of net discrete tax benefits, a majority of which related to the excess tax benefit derived from stock-based compensation vesting. For the three months ended June 30, 2022, the Company recorded $4 million of net discrete tax expense, a majority of which related to the recording of a valuation allowance against the current tax receivable and deferred tax asset balance that is not expected to be realized as a result of the discontinuation of the Company’s business in Russia in the first quarter of 2022. As a result of this tax expense, the Company’s effective tax rate for the quarter was 972%. For the six months ended June 30, 2022, the Company recorded $1 million of net discrete tax benefits, a majority of which related to the excess tax benefit derived from $6 million of stock compensation vesting, offset by $5 million of discrete tax expense associated with valuation allowances against the current tax receivable and deferred tax asset balance that is not expected to be realized as a result of the discontinuation of the Company’s business in Russia in the first quarter of 2022. The Company estimates its annual effective tax rate for 2023 to be approximately 34.0% , which takes into consideration, among other things, the forecasted earnings mix by jurisdiction and the impact of discrete tax items to be recognized in 2023. Under U.S. tax law, U.S. shareholders are subject to a tax on global intangible low-taxed income ("GILTI") earned by certain foreign subsidiaries. The Company has elected to provide for the tax expense related to GILTI in the year in which the tax is incurred. Effective on January 1, 2022, the U.S. tax law changed and now requires R&D expenses to be capitalized and amortized for tax purposes under Internal Revenue Code Section 174; as a result of this law change, the Company is currently forecasting approximately $2 million of tax expense related to GILTI in our marginal effective tax rate for 2023.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
Derivative Instruments and Hedging Activities	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities As a portion of Teradata’s operations is conducted outside the U.S. and in currencies other than the U.S. dollar, the Company is exposed to potential gains and losses from changes in foreign currency exchange rates. In an attempt to mitigate the impact of currency fluctuations, the Company uses foreign exchange forward contracts to hedge transactional exposures resulting predominantly from foreign currency denominated inter-company receivables and payables. The forward contracts are designated as fair value hedges of specified foreign currency denominated inter-company receivables and payables and generally mature in three months or less. The fair values of foreign exchange contracts are based on market spot and forward exchange rates and represent estimates of possible value that may not be realized in the future. Across its portfolio of contracts, Teradata has both long and short positions relative to the U.S. dollar. As a result, Teradata’s net exposure is less than the total contract notional amount of the Company’s foreign exchange forward contracts. Gains and losses from foreign exchange forward contracts are fully recognized each period and reported along with the offsetting gain or loss of the related hedged item, either in cost of revenues, operating expenses or in other income (expense), depending on the nature of the related hedged item. During June 2022, Teradata entered into a cross-currency swap designated as a net investment hedge, to hedge the Euro currency exposure of its net investment in certain foreign subsidiaries. This agreement is a contract to exchange fixed-rate payments in one currency for fixed-rate payments in another currency. Changes in the fair value of this swap are recorded in Accumulated Other Comprehensive Loss in the same manner as foreign currency translation adjustments. In assessing the effectiveness of this hedge, the Company used a method based on changes in spot rates to measure the impact of the foreign currency exchange rate fluctuations on both its foreign subsidiary net investment and the related swap. The cross-currency swap contract has an expiration date of June 29, 2026. At maturity of the cross-currency swap contract, the Company will deliver the notional amount of €143 million and wil l receive $150 million from the counterparty. The Company will receive monthly interest payments from the counterparty based on a fixed interest rate until maturity of the agreements. In June 2022, Teradata refinanced its long-term debt and its associated interest rate swap ("Prior Interest Rate Swap"), which were due to mature in June 2023. As a result, Teradata terminated its five-year London Interbank Offered Rate ("Libor") interest rate swap that had a $500 million initial notional amount to hedge the floating interest rate of its Libor term loan. On June 28, 2022, Teradata executed a five-year Secured Overnight Financing Rate ("SOFR") interest rate swap, to fix the interest rate on approximately 90% of the principal balance of the $500 million term loan, with an initial notional amount of $450 million. The Company uses interest rate swaps to manage interest rate risks on future interest payments caused by interest rate changes on its variable rate term loan. The notional amount of the hedge steps down according to the amortization schedule of the term loan. The notional amount of the hedge was $450 million as of June 30, 2023. The Company performed an initial effectiveness assessment on the interest rate swap and the net investment hedge foreign currency swap, and the hedges were determined to be effective. The hedges are being evaluated qualitatively on a quarterly basis for effectiveness. Changes in fair value are recorded in Accumulated Other Comprehensive Loss and periodic settlements of the swap will be recorded in interest expense along with the interest on amounts outstanding under the term loan. The following table identifies the contract notional amount of the Company’s derivative financial instruments: As of In millions June 30, December 31, Contract notional amount of foreign exchange forward contracts $ 41 $ 46 Net contract notional amount of foreign exchange forward contracts $ 19 $ 7 Contract notional amount of foreign currency exchange (net investment hedge) $ 150 $ 150 Contract notional amount of interest rate swap $ 450 $ 450 All derivatives are recognized in the condensed consolidated balance sheets at their fair value. The notional amounts represent agreed-upon amounts on which calculations of dollars to be exchanged are based and are an indication of the extent of Teradata’s involvement in such instruments. These notional amounts do not represent amounts exchanged by the parties and, therefore, are not a measure of the instruments. Refer to Note 9 for disclosures related to the fair value of all derivative assets and liabilities. The Company does not hold or issue derivative financial instruments for trading purposes, nor does it hold or issue leveraged derivative instruments. By using derivative financial instruments to hedge exposures to changes in foreign exchange and interest rates, the Company exposes itself to credit risk. The Company manages exposure to counterparty credit risk by entering into derivative financial instruments with highly rated institutions that can be expected to fully perform under the terms of the applicable contracts.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings. In the ordinary course of business, the Company is subject to proceedings, lawsuits, governmental investigations, claims and other matters, including those that relate to the environment, health and safety, employee benefits, export compliance, intellectual property, tax matters and other regulatory compliance and general matters. It is not currently a party to any litigation, nor is it aware of any pending or threatened litigation against it that the Company believes would materially affect its business, operating results, financial condition or cash flows, other than the following. On June 19, 2018, the Company and certain of its subsidiaries filed a lawsuit (the "TD-SAP 1" suit) in the U.S. District Court for the Northern District of California against SAP SE, SAP America, Inc., and SAP Labs, LLC (collectively, "SAP"). In the TD-SAP 1 lawsuit, the Company alleged, among other things, that SAP misappropriated certain of the Company’s trade secrets within the Company’s enterprise data analytics and warehousing products and used such trade secrets to help develop, improve, introduce, and sell one or more competing products. The Company further alleged that SAP employed anticompetitive practices using its substantial market position in the enterprise resource planning applications market to pressure the Company’s customers and prospective customers to use one or more of SAP's competing products and reduce or eliminate customers' and prospective customers' use of the Company's offerings. The Company sought an injunction barring SAP’s alleged conduct, monetary damages, and other available legal and equitable relief. In July 2019, SAP filed patent infringement counterclaims against the Company based on five of SAP’s U.S. patents. On August 31, 2020, the Company filed a second lawsuit against SAP (the "TD-SAP 2" suit) in the U.S. District Court for the Northern District of California, in which the Company alleged infringement by SAP of four of the Company's U.S. patents. On February 16, 2021, SAP filed additional patent infringement counterclaims against the Company in response. On the same day, SAP also filed a lawsuit in Germany (the "TD-SAP 3" suit) for infringement of a single German patent. In November 2021, the district court dismissed the Company’s antitrust claims and most of its trade secret claims in the TD-SAP 1 suit. In December 2021, the Company appealed that decision to the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. and the Court held a hearing on that appeal on June 8, 2023. On August 1, 2023, the Federal Circuit transferred the appeal to the Ninth Circuit Court of Appeals, and the parties are awaiting a schedule in that court. In the meantime, the Company and SAP have entered into a partial settlement agreement that has resulted in full dismissal of all claims and counterclaims in the TD-SAP 2 suit in California and the TD-SAP 3 suit in Germany as well as a stay of all claims and counterclaims remaining in the TD-SAP 1 suit pending resolution of the Company’s appeal. Currently, it is not possible to determine the likelihood of a loss or a reasonably estimated range of loss, if any, pertaining to any of SAP’s remaining patent counterclaims in the TD-SAP 1 lawsuit. Other Contingencies. The Company provides its customers with certain indemnification rights. In general, the Company agrees to indemnify the customer if a third party asserts patent or other infringement on the part of the customer for its use of the Company’s offerings. The Company has indemnification obligations under its charter and bylaws to its officers and directors, and has entered into indemnification agreements with the officers and directors of its subsidiaries. From time to time, the Company 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 typically 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. As such, the Company has generally not recorded a liability in connection with these indemnification arrangements. 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. Concentrations of Risk . The Company 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 balance sheet. Exposure to credit risk is managed through credit approvals, credit limits, selecting major international financial institutions (as counterparties to hedging transactions) and monitoring procedures. Teradata’s business often involves large transactions with customers, and if one or more of those customers were to default in its obligations under applicable contractual arrangements, the Company could be exposed to potentially significant losses. However, management believes that the reserves for potential losses were adequate at June 30, 2023 and December 31, 2022. The Company is also potentially subject to concentrations of supplier risk. Our hardware components are assembled exclusively by Flex Ltd. ("Flex"). Flex procures a wide variety of components used in the manufacturing process on behalf of the Company. Although many of these components are available from multiple sources, Teradata utilizes preferred supplier relationships to provide more consistent and optimal quality, cost and delivery. Typically, these preferred suppliers maintain alternative processes and/or facilities to ensure continuity of supply. Given the Company’s strategy to outsource its manufacturing activities to Flex and to source certain components from single suppliers, a disruption in production at Flex or at a supplier could impact the timing of customer shipments and/or Teradata’s operating results. In addition, a significant change in the forecasts to any of these preferred suppliers could result in purchase obligations for components that may be in excess of demand.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value measurements are established utilizing a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2, defined as significant other observable inputs, such as quoted prices in active markets for similar assets or liabilities, or quoted prices in less-active markets for identical assets; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assets and liabilities measured at fair value on a recurring basis include money market funds, interest rate swaps, foreign currency swaps and foreign currency exchange contracts. A portion of the Company’s excess cash reserves are held in money market funds which generate interest income based on the prevailing market rates. Money market funds are included in cash and cash equivalents in the Company’s balance sheet. Money market fund holdings are measured at fair value using quoted market prices and are classified within Level 1 of the valuation hierarchy. When deemed appropriate, the Company minimizes its exposure to changes in foreign currency exchange rates through the use of derivative financial instruments, specifically, foreign exchange forward contracts. Additionally, in June 2022, Teradata executed a five-year interest rate swap with a $450 million initial notional amount in order to hedge the variable interest rate on its term loan and a four-year cross-currency swap with initial notional amounts of €143 million/$150 million, as a net investment hedge to hedge the Euro currency exposure of our net investment in certain foreign subsidiaries. The fair value of these contracts and swaps are measured at the end of each interim reporting period using observable inputs other than quoted prices, specifically market spot and forward exchange rates. As such, these derivative instruments are classified within Level 2 of the valuation hierarchy. Fair value of unrealized gains for open contracts are recorded in other assets and the fair value of unrealized losses are recorded in other liabilities in the Company's balance sheet. The fair value of foreign exchange forward contract assets and liabilities at June 30, 2023 and December 31, 2022 was not material. Realized gains and losses from the Company’s fair value and net investment hedges net of corresponding gains or losses on the underlying exposures were immaterial for the three and six months ended June 30, 2023 and 2022. The Company’s other assets and liabilities measured at fair value on a recurring basis and subject to fair value disclosure requirements at June 30, 2023 and December 31, 2022 were as follows: Fair Value Measurements at Reporting Date Using In millions Total Quoted Prices in Significant Significant Assets Money market funds at June 30, 2023 $ 155 $ 155 $ — $ — Money market funds at December 31, 2022 $ 211 $ 211 $ — $ — Interest rate swap at June 30, 2023 $ 16 $ — $ 16 $ — Interest rate swap at December 31, 2022 $ 13 $ — $ 13 $ — Liabilities Foreign currency swap at June 30, 2023 $ 5 $ — $ 5 $ — Foreign currency swap at December 31, 2022 $ 1 $ — $ 1 $ —

Debt

Debt	6 Months Ended
Debt	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt On June 28, 2022, the Company entered into a Credit Agreement that provides for (i) a five-year unsecured term loan in an aggregate principal amount of $500 million (the "Term Loan"), and (ii) a five-year unsecured revolving credit facility in an aggregate principal amount of up to $400 million, including a $50 million sublimit for the issuance of standby letters of credit and a $50 million sublimit for swingline loans (the "Revolving Facility" and, collectively with the Term Loan, the "Credit Facility"). The Credit Facility replaces the Company's prior revolving credit agreement in the maximum principal of $400 million and its prior term loan agreement in the initial principal amount of $500 million, both of which were entered into in 2018 (the "Prior Agreements"). In connection with the execution of the Credit Facility, the $400 million term loan outstanding under the Prior Agreements was repaid in full. All outstanding borrowings pursuant to the Revolving Facility are due and payable on June 28, 2027, however, the maturity date of the Revolving Facility may be extended by agreement of the parties for up to two additional one-year periods. The Term Loan is payable in quarterly installments, which commence on June 30, 2024, with 1.25% of the initial principal amount due on each of the first twelve payment dates, with all remaining principal due on June 28, 2027. Under the terms of the Credit Facility, Teradata from time to time and subject to certain conditions may increase the lending commitments under the Credit Facility in an aggregate principal amount up to an additional $450 million, to the extent that existing or new lenders agree to provide such additional commitments. The outstanding principal amount of the Credit Facility bears interest at a floating rate based upon, at Teradata’s option, a negotiated base rate or an adjusted term SOFR rate, plus in each case, a margin based on the Company's leverage ratio. As disclosed in Note 7, in June 2022, Teradata entered into an interest rate swap to hedge approximately 90% (or $450 million as of June 30, 2023) of the floating interest rate of the total $500 million Term Loan and a cross currency swap to hedge a portion of Euro currency exposure of its net investment in certain foreign subsidiaries. The Credit Facility is unsecured but is guaranteed by certain of Teradata’s material domestic subsidiaries and contains certain customary representations and warranties, default provisions, and affirmative and negative covenants, including, among others, covenants regarding the maintenance of a leverage ratio and covenants relating to financial reporting, compliance with laws, subsidiary indebtedness, liens, sale and leaseback transactions, mergers and other fundamental changes, and entry into certain restrictive agreements. Most of the covenants are subject to materiality, thresholds, and exceptions. In addition, the Credit Agreement provides that Teradata may request that the Credit Agreement be amended to establish key performance indicators with respect to certain environmental, social, and governance ("ESG") targets, pursuant to which certain positive or negative adjustments would be made to various fees and applicable margin based on Teradata’s performance against such ESG targets. As of June 30, 2023, the Company had no borrowings outstanding under the Revolving Facility, leaving $400 million in borrowing capacity available under the Revolving Facility and the Term Loan principal outstanding was $500 million . The Term Loan is recognized on the Company's balance sheet at the unpaid principal balance, net of deferred issuance costs, and is not subject to fair value measurement. The Company was in compliance with all covenants under the Credit Facility as of June 30, 2023. For the three months ended June 30, 2023 and June 30, 2022, the blended all-in interest rate on the Credit Facility was 4.40% and 4.23%

Earnings per Share

Earnings per Share	6 Months Ended
Earnings per Share	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic earnings per share is calculated by dividing net income by the weighted average number of shares outstanding during the reported period. The calculation of diluted earnings per share is similar to basic earnings per share, except that the weighted average number of shares outstanding includes the dilution from potential shares resulting from stock options, restricted stock awards and other stock awards. The components of basic and diluted earnings per share are as follows: Three Months Ended Six Months Ended June 30, In millions, except per share amounts 2023 2022 2023 2022 Net income (loss) attributable to common stockholders $ 17 $ (4) $ 57 $ 32 Weighted average outstanding shares of common stock 101.0 103.5 101.2 104.2 Dilutive effect of employee stock options, restricted stock and other stock awards 1.9 — 2.1 2.9 Common stock and common stock equivalents 102.9 103.5 103.3 107.1 Net income (loss) per share: Basic $ 0.17 $ (0.04) $ 0.56 $ 0.31 Diluted $ 0.17 $ (0.04) $ 0.55 $ 0.30 For the three months ended June 30, 2022, due to the net loss attributable to Teradata common stockholders, common shares that otherwise potentially would cause dilution, such as employee stock options, restricted shares and other stock awards, have been excluded from the diluted share count because their effect would have been anti-dilutive. The fully diluted shares would have been 105.6 million for the three months ended June 30, 2022. Options to purchase 0.1 million shares for the six months ended June 30, 2023 and 0.4 million shares in each of the three and six months ended June 30, 2022 were not included in the computation of diluted earnings per share because the exercise prices of these options were greater than the average market price of the common shares for the period, and therefore would have been anti-dilutive. There were no anti-dilutive options excluded for the three months ended June 30, 2023.

Segment and Other Supplemental

Segment and Other Supplemental Information	6 Months Ended
Segment and Other Supplemental Information	Jun. 30, 2023
Segment Reporting [Abstract]
Segment and Other Supplemental Information	Segment and Other Supplemental InformationTeradata manages its business under three geographic regions, which are also the Company’s operating segments: (1) Americas region (North America and Latin America); (2) EMEA region (Europe, Middle East and Africa) and (3) APJ region (Asia Pacific and Japan). For purposes of discussing results by segment, management excludes the impact of certain items, consistent with the manner by which management evaluates the performance of each segment. This format is useful to investors because it allows analysis and comparability of operating trends. It also includes the same information that is used by Teradata management to make decisions regarding the segments and to assess financial performance. The chief operating decision maker, who is the Company's President and Chief Executive Officer, evaluates the performance of the segments based on revenue and multiple profit measures, including segment gross profit. For management reporting purposes, assets are not allocated to the segments. The following table presents segment revenue and segment gross profit for the Company: Three Months Ended Six Months Ended June 30, In millions 2023 2022 2023 2022 Segment revenue Americas $ 268 $ 249 $ 560 $ 539 EMEA 118 103 235 232 APJ 76 78 143 155 Total revenue 462 430 938 926 Segment gross profit Americas 164 153 357 342 EMEA 73 63 147 141 APJ 43 47 82 92 Total segment gross profit 280 263 586 575 Stock-based compensation costs 4 4 8 9 Acquisition, integration, reorganization and transformation-related costs — 1 — 7 Total gross profit 276 258 578 559 Selling, general and administrative expenses 167 163 320 320 Research and development expenses 76 81 146 157 Income from operations $ 33 $ 14 $ 112 $ 82

Subsequent Event

Subsequent Event	6 Months Ended
Subsequent Event	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn July 25, 2023, Teradata announced that it had acquired Stemma Technologies (“Stemma”), a cloud-native, fully managed, AI-enhanced data catalog solution, designed to help users discover, trust, and use their data and metadata more effectively. This acquisition was immaterial to Teradata's Condensed Consolidated Financial Statements (Unaudited).

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 17	$ 40	$ (4)	$ 36	$ 57	$ 32

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	6 Months Ended
New Accounting Pronouncements (Policies)	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements The Compa ny has assessed the Ac counting Standards Updates and determined that they were not applicable or were not expected to have a material impact on the Company's financial statements.
Revenue from Contract with Customer	Contract CostsThe Company capitalizes sales commissions and other contract costs that are incremental direct costs of obtaining customer contracts if the expected amortization period of the asset is greater than one year. These costs are recorded in capitalized contract costs, net on the Company’s balance sheet. The capitalized amounts are calculated based on the annual recurring revenue and contract value for individual multi-term contracts. The judgments made in determining the amount of costs incurred include whether the commissions are in fact incremental and would not have occurred absent the customer contract. Costs to obtain a contract are amortized as selling, general and administrative expenses on a straight-line basis over the expected period of benefit, which is typically around four years. These costs are periodically reviewed for impairment.
Fair Value Measurement	Fair Value MeasurementsFair value measurements are established utilizing a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2, defined as significant other observable inputs, such as quoted prices in active markets for similar assets or liabilities, or quoted prices in less-active markets for identical assets; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
Revenue from Contracts with Customers (Tables)	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents a disaggregation of revenue: Three Months Ended June 30, Six Months Ended June 30, in millions 2023 2022 2023 2022 Americas Recurring $ 230 $ 215 $ 486 $ 461 Perpetual software licenses, hardware and other 3 3 8 15 Consulting services 35 31 66 63 Total Americas 268 249 560 539 EMEA Recurring 89 75 176 164 Perpetual software licenses, hardware and other 5 3 12 14 Consulting services 24 25 47 54 Total EMEA 118 103 235 232 APJ Recurring 52 55 98 106 Perpetual software licenses, hardware and other 5 2 6 5 Consulting services 19 21 39 44 Total APJ 76 78 143 155 Total Revenue $ 462 $ 430 $ 938 $ 926
Schedule of Rental Revenue	Rental revenue, which is included in recurring revenue in the above table, was as follows: Three Months Ended June 30, Six Months Ended June 30, in millions 2023 2022 2023 2022 Rental revenue* $ 56 $ 45 $ 107 $ 95 *Rental revenue includes hardware maintenance.
Schedule of Assets and Liabilities Related to Contracts with Customers	The following table provides information about receivables, contract assets and deferred revenue from contracts with customers: As of in millions June 30, 2023 December 31, 2022 Accounts receivable, net $ 265 $ 364 Contract assets $ 13 $ 7 Current deferred revenue $ 526 $ 589 Long-term deferred revenue $ 7 $ 8
Schedule of Estimated Revenue Expected to be Recognized in the Future	The following table includes estimated revenue expected to be recognized in the future related to the Company's unsatisfied (or partially satisfied) obligations at June 30, 2023: in millions Total at June 30, 2023 Year 1 Year 2 and Thereafter Remaining unsatisfied obligations $ 2,307 $ 1,390 $ 917

Contract Costs (Tables)

Contract Costs (Tables)	6 Months Ended
Contract Costs (Tables)	Jun. 30, 2023
Capitalized Contract Cost [Abstract]
Schedule of Activity Related to Capitalized Contract Cost	The following table identifies the activity relating to capitalized contract costs: in millions December 31, 2022 Capitalized Amortization June 30, 2023 Capitalized contract costs $ 92 $ 6 $ (22) $ 76 in millions December 31, 2021 Capitalized Amortization June 30, 2022 Capitalized contract costs $ 111 $ 15 $ (31) $ 95

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	6 Months Ended
Supplemental Financial Information (Tables)	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Supplemental Financial Information	As of In millions June 30, December 31, Inventories Finished goods $ 7 $ 5 Service parts 2 3 Total inventories $ 9 $ 8 Deferred revenue Deferred revenue, current $ 526 $ 589 Long-term deferred revenue 7 8 Total deferred revenue $ 533 $ 597 Three Months Ended June 30, Six Months Ended June 30, In millions 2023 2022 2023 2022 Other expense Foreign currency losses $ 7 $ 9 $ 25 $ 15 Other 3 3 6 6 Total Other expense $ 10 $ 12 $ 31 $ 21

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Effective Tax Rate	The effective tax rate is as follows: Three Months Ended June 30, Six Months Ended June 30, In millions 2023 2022 2023 2022 Effective tax rate 29.2 % 972.0 % 30.5 % 41.8 %

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
Derivative Instruments and Hedging Activities (Tables)	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Financial Instruments	The following table identifies the contract notional amount of the Company’s derivative financial instruments: As of In millions June 30, December 31, Contract notional amount of foreign exchange forward contracts $ 41 $ 46 Net contract notional amount of foreign exchange forward contracts $ 19 $ 7 Contract notional amount of foreign currency exchange (net investment hedge) $ 150 $ 150 Contract notional amount of interest rate swap $ 450 $ 450

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis and Subject to Fair Value Disclosure Requirements	The Company’s other assets and liabilities measured at fair value on a recurring basis and subject to fair value disclosure requirements at June 30, 2023 and December 31, 2022 were as follows: Fair Value Measurements at Reporting Date Using In millions Total Quoted Prices in Significant Significant Assets Money market funds at June 30, 2023 $ 155 $ 155 $ — $ — Money market funds at December 31, 2022 $ 211 $ 211 $ — $ — Interest rate swap at June 30, 2023 $ 16 $ — $ 16 $ — Interest rate swap at December 31, 2022 $ 13 $ — $ 13 $ — Liabilities Foreign currency swap at June 30, 2023 $ 5 $ — $ 5 $ — Foreign currency swap at December 31, 2022 $ 1 $ — $ 1 $ —

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
Earnings per Share (Tables)	Jun. 30, 2023
Earnings Per Share [Abstract]
Components of Basic and Diluted Earnings Per Share	The components of basic and diluted earnings per share are as follows: Three Months Ended Six Months Ended June 30, In millions, except per share amounts 2023 2022 2023 2022 Net income (loss) attributable to common stockholders $ 17 $ (4) $ 57 $ 32 Weighted average outstanding shares of common stock 101.0 103.5 101.2 104.2 Dilutive effect of employee stock options, restricted stock and other stock awards 1.9 — 2.1 2.9 Common stock and common stock equivalents 102.9 103.5 103.3 107.1 Net income (loss) per share: Basic $ 0.17 $ (0.04) $ 0.56 $ 0.31 Diluted $ 0.17 $ (0.04) $ 0.55 $ 0.30

Segment and Other Supplementa_2

Segment and Other Supplemental Information (Tables)	6 Months Ended
Segment and Other Supplemental Information (Tables)	Jun. 30, 2023
Segment Reporting [Abstract]
Regional Segment Revenue and Gross Margin	The following table presents segment revenue and segment gross profit for the Company: Three Months Ended Six Months Ended June 30, In millions 2023 2022 2023 2022 Segment revenue Americas $ 268 $ 249 $ 560 $ 539 EMEA 118 103 235 232 APJ 76 78 143 155 Total revenue 462 430 938 926 Segment gross profit Americas 164 153 357 342 EMEA 73 63 147 141 APJ 43 47 82 92 Total segment gross profit 280 263 586 575 Stock-based compensation costs 4 4 8 9 Acquisition, integration, reorganization and transformation-related costs — 1 — 7 Total gross profit 276 258 578 559 Selling, general and administrative expenses 167 163 320 320 Research and development expenses 76 81 146 157 Income from operations $ 33 $ 14 $ 112 $ 82

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 462	$ 430	$ 938	$ 926
Americas
Disaggregation of Revenue [Line Items]
Revenue	268	249	560	539
EMEA
Disaggregation of Revenue [Line Items]
Revenue	118	103	235	232
APJ
Disaggregation of Revenue [Line Items]
Revenue	76	78	143	155
Recurring
Disaggregation of Revenue [Line Items]
Revenue	371	345	760	731
Recurring \| Americas
Disaggregation of Revenue [Line Items]
Revenue	230	215	486	461
Recurring \| EMEA
Disaggregation of Revenue [Line Items]
Revenue	89	75	176	164
Recurring \| APJ
Disaggregation of Revenue [Line Items]
Revenue	52	55	98	106
Perpetual software licenses, hardware and other
Disaggregation of Revenue [Line Items]
Revenue	13	8	26	34
Perpetual software licenses, hardware and other \| Americas
Disaggregation of Revenue [Line Items]
Revenue	3	3	8	15
Perpetual software licenses, hardware and other \| EMEA
Disaggregation of Revenue [Line Items]
Revenue	5	3	12	14
Perpetual software licenses, hardware and other \| APJ
Disaggregation of Revenue [Line Items]
Revenue	5	2	6	5
Consulting services
Disaggregation of Revenue [Line Items]
Revenue	78	77	152	161
Consulting services \| Americas
Disaggregation of Revenue [Line Items]
Revenue	35	31	66	63
Consulting services \| EMEA
Disaggregation of Revenue [Line Items]
Revenue	24	25	47	54
Consulting services \| APJ
Disaggregation of Revenue [Line Items]
Revenue	$ 19	$ 21	$ 39	$ 44

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Schedule of Operating Lease Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Rental revenue	$ 56	$ 45	$ 107	$ 95

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Contract Balances (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 265	$ 364
Contract assets	13	7
Current deferred revenue	526	589
Long-term deferred revenue	$ 7	$ 8

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Deferred revenue, revenue recognized	$ 310
Remaining performance obligation, amount of customer only general cancellation	1,198
Remaining performance obligation, amount of non-cancelable contracts	$ 542

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Millions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 2,307
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 1,390
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 917
Revenue, remaining performance obligation, period

Contract Costs - Narrative (Det

Contract Costs - Narrative (Details)	Jun. 30, 2023
Capitalized Contract Cost [Abstract]
Capitalized contract cost, amortization period	4 years

Contract Costs - Schedule of Ac

Contract Costs - Schedule of Activity Related to Capitalized Contract Cost (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Capitalized Contract Cost, Net [Roll Forward]
Capitalized contract cost, net at period start	$ 92	$ 111
Capitalized	6	15
Amortization	(22)	(31)
Capitalized contract cost, net at period end	$ 76	$ 95

Supplemental Financial Inform_3

Supplemental Financial Information - Inventories and Deferred Revenue (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventories
Finished goods	$ 7	$ 5
Service parts	2	3
Total inventories	9	8
Deferred revenue
Current deferred revenue	526	589
Long-term deferred revenue	7	8
Total deferred revenue	$ 533	$ 597

Supplemental Financial Inform_4

Supplemental Financial Information - Other Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign currency losses	$ 7	$ 9	$ 25	$ 15
Other	3	3	6	6
Total Other expense	$ 10	$ 12	$ 31	$ 21

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Tax Rate (Detail)	3 Months Ended		6 Months Ended
Income Taxes - Schedule of Effective Tax Rate (Detail)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate (percentage)	29.20%	972%	30.50%	41.80%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2023
Operating Loss Carryforwards [Line Items]
Net discrete tax (expense) benefits	$ 0	$ (4)	$ 2	$ 1
Effective tax rate (percentage)	29.20%	972%	30.50%	41.80%
Tax benefit from stock compensation vesting				$ 6
Discrete tax expense associated with valuation allowances				$ 5
Scenario, Forecast
Operating Loss Carryforwards [Line Items]
Effective tax rate (percentage)					34%
Effective income tax rate reconciliation, GILTI amount					$ 2

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Detail) € in Millions, $ in Millions		1 Months Ended
	Jun. 28, 2022 USD ($)	Jun. 30, 2022	Jun. 30, 2018 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)
Medium-term Notes \| Credit Agreement Issued In June 2022 \| Line of Credit
Derivative
Principal outstanding				$ 500
Cross Currency Swap
Derivative
Contract notional amount of interest rate swap				150	$ 150		€ 143
Derivative asset						$ 150
Interest Rate Swap
Derivative
Contract notional amount of interest rate swap	$ 450		$ 500	$ 450	$ 450	$ 450
Term of contract	5 years	5 years	5 years
Percentage of principal	90%

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Derivative Financial Instruments (Details) € in Millions, $ in Millions	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)	Jun. 28, 2022 USD ($)	Jun. 30, 2018 USD ($)
Foreign Exchange Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Contract notional amount of foreign exchange forward contracts	$ 41	$ 46
Net contract notional amount of foreign exchange forward contracts	19	7
Contract notional amount of interest rate swap	41	46
Cross Currency Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Contract notional amount of foreign exchange forward contracts	150	150		€ 143
Contract notional amount of interest rate swap	150	150		€ 143
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Contract notional amount of foreign exchange forward contracts	450	450	$ 450		$ 450	$ 500
Contract notional amount of interest rate swap	$ 450	$ 450	$ 450		$ 450	$ 500

Commitment and Contingencies (D

Commitment and Contingencies (Details) - patent		1 Months Ended
Commitment and Contingencies (Details) - patent	Aug. 31, 2020	Jul. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Loss contingency on patents allegedly infringed upon (in patents)		5
Gain contingency on patents allegedly infringed upon (in patents)	4

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) € in Millions, $ in Millions		1 Months Ended
	Jun. 28, 2022 USD ($)	Jun. 30, 2022	Jun. 30, 2018 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term of contract	5 years	5 years	5 years
Contract notional amount of interest rate swap	$ 450		$ 500	$ 450	$ 450	$ 450
Cross Currency Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contract notional amount of interest rate swap				$ 150	$ 150		€ 143
Derivative asset						$ 150

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 155	$ 211
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	155	211
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Cross Currency Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	5	1
Cross Currency Swap \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Cross Currency Swap \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	5	1
Cross Currency Swap \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	16	13
Interest Rate Swap \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Interest Rate Swap \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	16	13
Interest Rate Swap \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 0	$ 0

Debt - Additional Information (

Debt - Additional Information (Detail)	Jun. 28, 2022 USD ($) renewal	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022	Jun. 30, 2018 USD ($)
Debt Instrument
All-in-interest rate at period end		4.40%			4.23%
Interest Rate Swap
Debt Instrument
Percentage of principal	90%
Contract notional amount of interest rate swap	$ 450,000,000	$ 450,000,000	$ 450,000,000	$ 450,000,000		$ 500,000,000
Credit Agreement Issued In June 2022 \| Line of Credit
Debt Instrument
Number of renewals \| renewal	2
Renewal term	1 year
Credit Agreement Issued In June 2022 \| Line of Credit \| Medium-term Notes
Debt Instrument
Term of loan (years)	5 years
Debt instrument, face amount	$ 500,000,000
Term loan, payable quarterly installments (percentage)	1.25%
Principal outstanding		500,000,000
Credit Agreement Issued In June 2022 \| Line of Credit \| Revolving Credit Facility
Debt Instrument
Term of loan (years)	5 years
Credit facility maximum borrowing capacity	$ 400,000,000
Additional borrowings available	450,000,000
Principal outstanding		0
Remaining borrowing capacity		$ 400,000,000
Credit Agreement Issued In June 2022 \| Line of Credit \| Letter of Credit
Debt Instrument
Credit facility maximum borrowing capacity	50,000,000
Credit Agreement Issued In June 2022 \| Line of Credit \| Bridge Loan
Debt Instrument
Credit facility maximum borrowing capacity	50,000,000
Revolving Credit Facility Ending In June 2023 \| Revolving Credit Facility
Debt Instrument
Credit facility maximum borrowing capacity						400,000,000
Repayment of line of credit	$ 400,000,000
Senior Unsecured Term Loan Issued June 2018 \| Senior Unsecured Term Loan
Debt Instrument
Debt instrument, face amount						$ 500,000,000

Earnings per Share - Components

Earnings per Share - Components of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income (loss) attributable to common stockholders	$ 17	$ 40	$ (4)	$ 36	$ 57	$ 32
Weighted average outstanding shares of common stock (in shares)	101		103.5		101.2	104.2
Dilutive effect of employee stock options, restricted stock and other stock awards (in shares)	1.9		0		2.1	2.9
Common stock and common stock equivalents (in shares)	102.9		103.5		103.3	107.1
Net income (loss) per share:
Basic (in dollars per share)	$ 0.17		$ (0.04)		$ 0.56	$ 0.31
Diluted (in dollars per share)	$ 0.17		$ (0.04)		$ 0.55	$ 0.30

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of EPS, value		$ 105.6
Antidilutive options to purchase that were not included in the computation of diluted earnings per share (in shares)	0	0.4	0.1	0.4

Segment and Other Supplementa_3

Segment and Other Supplemental Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment and Other Supplementa_4

Segment and Other Supplemental Information - Regional Segment Revenue and Gross Margin for Company (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information
Segment revenue	$ 462	$ 430	$ 938	$ 926
Gross profit	276	258	578	559
Selling, general and administrative expenses	167	163	320	320
Research and development expenses	76	81	146	157
Income from operations	33	14	112	82
Americas
Segment Reporting Information
Segment revenue	268	249	560	539
EMEA
Segment Reporting Information
Segment revenue	118	103	235	232
APJ
Segment Reporting Information
Segment revenue	76	78	143	155
Operating segments
Segment Reporting Information
Gross profit	280	263	586	575
Operating segments \| Americas
Segment Reporting Information
Gross profit	164	153	357	342
Operating segments \| EMEA
Segment Reporting Information
Gross profit	73	63	147	141
Operating segments \| APJ
Segment Reporting Information
Gross profit	43	47	82	92
Segment reconciling items
Segment Reporting Information
Stock-based compensation costs	4	4	8	9
Acquisition, integration, reorganization and transformation-related costs	$ 0	$ 1	$ 0	$ 7

Uncategorized Items - tdc-20230

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 2,000,000