Cover Document
Cover Document | Aug. 06, 2019 |
Cover page. | |
Entity Incorporation, State or Country Code | MD |
Title of 12(b) Security | Common Stock, par value $0.01 per share |
Document Type | 8-K |
Document Period End Date | Aug. 6, 2019 |
Entity Registrant Name | NCR CORP |
Entity File Number | 001-00395 |
Entity Address, Address Line One | 864 Spring Street NW |
Entity Address, City or Town | Atlanta |
Entity Address, State or Province | GA |
Entity Address, Postal Zip Code | 30308 |
City Area Code | 937 |
Local Phone Number | 445-5000 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Central Index Key | 0000070866 |
Amendment Flag | false |
Entity Emerging Growth Company | false |
Trading Symbol | NCR |
Security Exchange Name | NYSE |
Entity Tax Identification Number | 31-0387920 |
Document and Entity Information
Document and Entity Information | Aug. 06, 2019 |
Document and Entity Information | |
Document Type | 8-K |
Document Period End Date | Aug. 6, 2019 |
Amendment Flag | false |
Entity Emerging Growth Company | false |
Entity Registrant Name | NCR CORP |
Entity Central Index Key | 0000070866 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Total revenue | $ 6,405 | $ 6,516 | $ 6,543 |
Selling, general and administrative expenses | (1,005) | (923) | (904) |
Research and development expenses | (252) | (241) | (225) |
Asset Impairment Charges | 227 | 0 | 0 |
Restructuring-related charges | 0 | 0 | 15 |
Total operating expenses | 6,214 | 5,825 | 5,869 |
Income from operations | 191 | 691 | 674 |
Interest expense | (168) | (163) | (170) |
Other income (expense), net | 16 | (46) | (125) |
Income (loss) from continuing operations before income taxes | 39 | 482 | 379 |
Income tax expense | 73 | 242 | 92 |
Income (loss) from continuing operations | (34) | 240 | 287 |
Loss (income) from discontinued operations | (52) | (5) | (13) |
Net income (loss) | (86) | 235 | 274 |
Net income attributable to noncontrolling interests | 2 | 3 | 4 |
Net income (loss) attributable to NCR | (88) | 232 | 270 |
Amounts attributable to NCR common stockholders: | |||
Income (loss) from continuing operations | (36) | 237 | 283 |
Series A convertible preferred stock dividends | (49) | (47) | (49) |
Deemed dividend on modification of Series A convertible preferred stock | 0 | (4) | 0 |
Deemed dividend on preferred stock redemption | 0 | (58) | 0 |
Income (loss) from continuing operations attributable to common stockholders | (85) | 128 | 234 |
Loss (income) from discontinued operations | (52) | (5) | (13) |
Net income (loss) attributable to NCR common stockholders | $ (137) | $ 123 | $ 221 |
Income (loss) per share attributable to NCR common stockholders: | |||
Basic (in dollars per share) | $ (0.72) | $ 1.05 | $ 1.86 |
Diluted (in dollars per share) | (0.72) | 1.01 | 1.80 |
Net income (loss) per common share | |||
Basic (in dollars per share) | (1.16) | 1.01 | 1.76 |
Diluted (in dollars per share) | $ (1.16) | $ 0.97 | $ 1.71 |
Weighted average common shares outstanding | |||
Basic (in shares) | 118.4 | 121.9 | 125.6 |
Diluted (continuing operations) | 118.4 | 127 | 157.4 |
Diluted (net income) | 118.4 | 127 | 129.2 |
Product [Member] | |||
Total revenue | $ 2,341 | $ 2,579 | $ 2,737 |
Cost of products | 1,988 | 2,021 | 2,099 |
Service [Member] | |||
Total revenue | 4,064 | 3,937 | 3,806 |
Cost of products | $ 2,742 | $ 2,640 | $ 2,626 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net income (loss) | $ (86) | $ 235 | $ 274 |
Currency translation adjustments | |||
Currency translation adjustments | (53) | 39 | (57) |
Derivatives | |||
Unrealized gain (loss) on derivatives | 11 | (16) | 19 |
Gains on derivatives arising during the period | (7) | (1) | (1) |
Less income tax benefit (expense) | (1) | 3 | (4) |
Employee benefit plans | |||
New prior service benefit (cost) | (4) | 0 | 0 |
Amortization of prior service cost | (9) | (11) | (19) |
Net (loss) gain arising during the period | 12 | (13) | (1) |
Amortization of actuarial (loss) gain | 0 | (2) | (2) |
Less income tax benefit (expense) | 1 | 5 | 5 |
Other comprehensive income (loss) | (50) | 4 | (60) |
Total comprehensive income (loss) | (136) | 239 | 214 |
Less comprehensive income attributable to noncontrolling interests: | |||
Net income | 2 | 3 | 4 |
Currency translation adjustments | (2) | (2) | (5) |
Amounts attributable to noncontrolling interests | 0 | 1 | (1) |
Comprehensive income (loss) attributable to NCR common stockholders | $ (136) | $ 238 | $ 215 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and cash equivalents | $ 464 | $ 537 |
Accounts receivable, net | 1,356 | 1,270 |
Inventories | 806 | 780 |
Other current assets | 397 | 243 |
Total current assets | 3,023 | 2,830 |
Property, plant and equipment, net | 359 | 341 |
Goodwill | 2,692 | 2,741 |
Intangibles, net | 595 | 578 |
Prepaid pension cost | 140 | 118 |
Deferred income taxes | 448 | 460 |
Other assets | 504 | 586 |
Total assets | 7,761 | 7,654 |
Liabilities and stockholders’ equity | ||
Short-term borrowings | 185 | 52 |
Accounts payable | 897 | 762 |
Payroll and benefits liabilities | 238 | 219 |
Deferred service revenue and customer deposits | 461 | 458 |
Other current liabilities | 501 | 398 |
Total current liabilities | 2,282 | 1,889 |
Long-term debt | 2,980 | 2,939 |
Pension and indemnity plan liabilities | 759 | 798 |
Postretirement and postemployment benefits liabilities | 118 | 133 |
Income tax accruals | 91 | 148 |
Other liabilities | 259 | 200 |
Total liabilities | 6,489 | 6,107 |
Commitments and Contingencies (Note 10) | ||
Redeemable noncontrolling interest | 14 | 15 |
Series A convertible preferred stock: par value $0.01 per share, 3.0 shares authorized, 0.9 and 0.8 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively; redemption amount and liquidation preference of $871 and $825 as of December 31, 2018 and December 31, 2017, respectively | 859 | 810 |
Stockholders’ equity | ||
Preferred stock: par value $0.01 per share, 100.0 shares authorized, no shares issued and outstanding as of December 31, 2018 and 2017, respectively | 0 | 0 |
Common stock: par value $0.01 per share, 500.0 shares authorized, 118.7 and 122.0 shares issued and outstanding as of December 31, 2018 and 2017, respectively | 1 | 1 |
Paid-in capital | 34 | 60 |
Retained earnings | 606 | 857 |
Accumulated other comprehensive loss | (246) | (199) |
Total NCR stockholders’ equity | 395 | 719 |
Noncontrolling interests in subsidiaries | 4 | 3 |
Total stockholders’ equity | 399 | 722 |
Total liabilities and stockholders’ equity | $ 7,761 | $ 7,654 |
Consolidated Balance Sheets Par
Consolidated Balance Sheets Parenthetical - USD ($) shares in Millions, $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Series A preferred shares, par value | $ 0.01 | $ 0.01 |
Series A preferred shares, shares authorized | 3 | 3 |
Temporary Equity, Aggregate Amount of Redemption Requirement | $ 825 | $ 870 |
Temporary Equity, Liquidation Preference | $ 825 | $ 870 |
Series A preferred shares, shares issued | 0.8 | 0.9 |
Series A preferred shares, shares outstanding | 0.8 | 0.9 |
Stockholders' Equity: | ||
Preferred Stock, par value | $ 0.01 | $ 0.01 |
Preferred Stock shares authorized | 100 | 100 |
Preferred Stock shares issued | 0 | 0 |
Preferred Stock shares outstanding | 0 | 0 |
Common Stock par value | $ 0.01 | $ 0.01 |
Common Stock shares authorized | 500 | 500 |
Common Stock shares issued | 118 | 122 |
Common Stock, Shares, Outstanding | 118 | 122 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating activities | |||
Net income (loss) | $ (86) | $ 235 | $ 274 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Loss from discontinued operations | 52 | 5 | 13 |
Depreciation and amortization | 330 | 354 | 344 |
Stock-based compensation expense | 72 | 77 | 61 |
Deferred income taxes | 14 | 173 | 10 |
Gain on sale of property, plant and equipment and other assets | (2) | (3) | 0 |
Loss on divestiture | 0 | 0 | 2 |
Goodwill and Long-Lived Intangible Asset Impairment | 239 | 1 | 2 |
Changes in assets and liabilities: | |||
Receivables | (155) | 29 | (89) |
Inventories | (70) | (68) | (86) |
Current payables and accrued expenses | 198 | (78) | 216 |
Deferred service revenue and customer deposits | (13) | 10 | 88 |
Employee benefit plans | (60) | (4) | 33 |
Other assets and liabilities | 53 | 21 | 28 |
Net cash provided by operating activities | 572 | 752 | 896 |
Investing activities | |||
Expenditures for property, plant and equipment | (143) | (128) | (73) |
Proceeds from Sale of property, plant, and equipment | 3 | 6 | 0 |
Additions to capitalized software | (170) | (166) | (154) |
Business acquisitions, net | (206) | (8) | 0 |
Proceeds from divestiture | 0 | 3 | 47 |
Other investing activities, net | (4) | 3 | (9) |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | (520) | (290) | (189) |
Financing activities | |||
Short term borrowings, net | (1) | (4) | (8) |
Payments on term credit facilities | (51) | (61) | (97) |
Payments on revolving credit facilities | (2,233) | (1,940) | (1,431) |
Borrowings on revolving credit facilities | 2,453 | 1,940 | 1,331 |
Debt issuance costs | 0 | 0 | (9) |
Repurchase of company common stock | (210) | (350) | (250) |
Tax withholding payments on behalf of employees | (36) | (31) | (16) |
Proceeds from employee stock plans | 20 | 15 | 15 |
Other financing activities | 0 | (3) | (2) |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (58) | (434) | (467) |
Cash flows from discontinued operations | |||
Net cash used in discontinued operations operating activities | (36) | (8) | (39) |
Effect of Exchange Rate changes on cash and cash equivalents | (25) | 16 | (29) |
Decrease in cash, cash equivalents, and restricted cash | (67) | 36 | 172 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash at beginning of period | 543 | 507 | 335 |
Cash and Cash Equivalents, at Carrying Value | 464 | 537 | 498 |
Restricted Cash | 12 | 6 | 9 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash at end of period | 476 | 543 | 507 |
Income Taxes Paid, Net | 106 | 98 | 66 |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 160 | $ 159 | $ 155 |
Consolidated Statements of Chan
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 Interest [Member] |
Balance at beginning of period at Dec. 31, 2015 | $ 726 | $ 1 | $ 0 | $ 869 | $ (150) | $ 6 | |
Shares outstanding at beginning of period at Dec. 31, 2015 | 133 | ||||||
Comprehensive income (loss): | |||||||
Net income (loss) | 272 | 270 | 2 | ||||
Other comprehensive (loss) income | $ (60) | (57) | 0 | (55) | (2) | ||
Total comprehensive income (loss) | 215 | 270 | (55) | 0 | |||
Employee stock purchase and stock compensation plans | 59 | 59 | |||||
Employee stock purchase and stock compensation plans (in shares) | 2 | ||||||
Stock Repurchased During Period, Shares | (10) | ||||||
Stock Repurchased During Period, Value | (250) | $ 0 | (27) | (223) | |||
Dividends, Preferred Stock | (49) | 0 | (49) | 0 | |||
Dividend distribution | 2 | 0 | 0 | 0 | 2 | ||
Deemed dividend on modification of Series A convertible preferred stock | 0 | ||||||
Deemed dividend on preferred stock redemption | 0 | ||||||
Balance at end of period at Dec. 31, 2016 | 699 | $ 1 | 32 | 867 | (205) | 4 | |
Shares outstanding at end of period at Dec. 31, 2016 | 125 | ||||||
Comprehensive income (loss): | |||||||
Net income (loss) | 235 | 232 | 3 | ||||
Other comprehensive (loss) income | 4 | 4 | 6 | (2) | |||
Total comprehensive income (loss) | 239 | 232 | 6 | 1 | |||
Cumulative Effect on Retained Earnings, Net of Tax | 39 | 39 | |||||
Employee stock purchase and stock compensation plans | 61 | 61 | |||||
Employee stock purchase and stock compensation plans (in shares) | 1 | ||||||
Stock Repurchased During Period, Shares | (7) | ||||||
Stock Repurchased During Period, Value | (350) | $ 0 | (178) | (172) | |||
Dividends, Preferred Stock | (47) | (47) | |||||
Dividend distribution | (2) | (2) | |||||
Deemed dividend on modification of Series A convertible preferred stock | (4) | (4) | (4) | ||||
Deemed dividend on preferred stock redemption | (58) | 58 | (58) | ||||
Stock Redeemed or Called During Period, Shares | 3 | ||||||
Stock Redeemed or Called During Period, Value | 87 | 87 | |||||
Balance at end of period at Dec. 31, 2017 | $ 722 | 722 | $ 1 | 60 | 857 | (199) | 3 |
Shares outstanding at end of period at Dec. 31, 2017 | 122 | 122 | |||||
Comprehensive income (loss): | |||||||
Net income (loss) | (87) | (88) | 1 | ||||
Other comprehensive (loss) income | $ (50) | (48) | (48) | ||||
Total comprehensive income (loss) | (135) | (88) | (48) | 1 | |||
Cumulative Effect on Retained Earnings, Tax | 15 | 14 | 1 | ||||
Employee stock purchase and stock compensation plans | 56 | 56 | |||||
Employee stock purchase and stock compensation plans (in shares) | 2 | ||||||
Stock Repurchased During Period, Shares | (6) | ||||||
Stock Repurchased During Period, Value | (210) | $ 0 | (82) | (128) | |||
Dividends, Preferred Stock | (49) | (49) | |||||
Deemed dividend on modification of Series A convertible preferred stock | 0 | ||||||
Deemed dividend on preferred stock redemption | 0 | ||||||
Balance at end of period at Dec. 31, 2018 | $ 399 | $ 399 | $ 1 | $ 34 | $ 606 | $ (246) | $ 4 |
Shares outstanding at end of period at Dec. 31, 2018 | 118 | 118 |
Description of Business and Sig
Description of Business and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Description of Business and Significant Accounting Policies [Abstract] | |
Business Description and Accounting Policies [Text Block] | 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Description of Business NCR is a leading software- and services-led enterprise provider in the financial, retail, hospitality and telecommunications and technology industries, with business in 180 countries. NCR offers a range of solutions that help businesses of all sizes compete in an ever-evolving landscape of physical and digital consumers by providing software, advisory and consulting services, hardware, support and managed services that run businesses end to end. Our portfolio includes, but is not limited to, digital first offerings for banking, restaurants and retailers as well as payments, multi-vendor connected device services, automated teller machines (ATMs), point of sale (POS) terminals and self-service technologies. We also resell third-party networking products and provide related service offerings in the telecommunications and technology sectors. Our solutions create value for our customers by increasing productivity and allowing them to address consumer demand for convenience, value and individual service across different commerce channels using a digital first approach. Effective January 1, 2019, NCR changed the management of its business to an industry basis from the previous model of management on a solution basis, which resulted in a corresponding change to NCR's reportable segments. We have reclassified prior period segment disclosures to conform to the current period presentation. See Note 13, “Segment Information and Concentrations” for additional information. Use of Estimates The preparation of financial statements in accordance with generally accepted accounting principles in the United States (U.S. 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. Actual results could differ from those estimates. Subsequent Events The Company evaluated subsequent events through the date that our Consolidated Financial Statements were issued. 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. 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. 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. Our product revenue includes hardware and software which is generally recognized at a point in time, once all conditions for revenue recognition have been met. 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 risk of loss of the goods sold. For software products, control is generally transferred when the customer takes possession of, or has complete access to, the software. 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. As of December 31, 2018 and 2017 , the revenue recognized from bill and hold transactions approximated 1% of total revenue. Our services revenue includes software as a service (SaaS), professional consulting, installation and maintenance support. SaaS primarily consists of fees to provide our customers access to our platform and cloud-based applications. 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. Professional consulting primarily consists of software implementation, integration, customization and optimization services. Revenue from professional consulting contracts that involve significant production, modification or customization of the software is recognized over time as the services are performed. Revenue from professional consulting contracts that does not involve significant production, modification or customization of the software 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. 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. NCR frequently enters contracts that include multiple performance obligations, including hardware, software, professional consulting services, installation services and maintenance support services. For these arrangements, the Company allocates the transaction price, at contract inception, to each 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. If a contract includes software and services that involve significant production, modification or customization of the software, the services are not distinct from the software. For these contracts, both the software and professional services revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Estimated losses, if any, are recognized as soon as such losses become known. 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. 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. 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. The Company also does not adjust the transaction price for taxes collected from customers, as those amounts are netted against amounts remitted to government authorities. 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 contracts that are not separately priced but include product maintenance, the Company defers revenue at an amount based on the selling price, using objective and reliable evidence, and recognizes the deferred revenue over the service term. For separately priced product maintenance contracts, NCR defers the stated amount of the separately priced contract and recognizes the deferred revenue ratably over the service term. Remaining Performance Obligations Remaining performance obligations represent the transaction price of orders for which products have not been delivered or services have not been performed. As of December 31, 2018 , the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $3.2 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 two elections which affect the value of remaining performance obligations described above. We do not disclose remaining performance obligations for SaaS contracts where variable consideration is directly allocated based on usage or when the original expected length is one year or less. 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 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. See Note 7, "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. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act of 2017 (“U.S. Tax Reform”) that instituted fundamental changes to the taxation of multinational corporations. See Note 7, "Income Taxes" for additional information on the Company's assessment and related impacts. Earnings Per Share Basic earnings per share (EPS) is calculated by dividing net income, less any 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 reported period. In computing diluted EPS, 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 and unvested restricted stock units do not have nonforfeitable rights to common stock dividends or common stock dividend equivalents. Accordingly, the Series A Convertible Preferred Stock and unvested restricted stock units 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 2018 2017 2016 Income (loss) from continuing operations $ (36 ) $ 237 $ 283 Series A convertible preferred stock dividends (49 ) (47 ) (49 ) Deemed dividend on modification of Series A Convertible Preferred Stock — (4 ) — Deemed dividend on Series A Convertible Preferred Stock redemption — (58 ) — Net income (loss) from continuing operations attributable to NCR common stockholders (85 ) 128 234 Loss from discontinued operations, net of tax (52 ) (5 ) (13 ) Net income (loss) attributable to NCR common stockholders $ (137 ) $ 123 $ 221 Denominator Basic weighted average number of shares outstanding 118.4 121.9 125.6 Basic earnings (loss) per share: From continuing operations $ (0.72 ) $ 1.05 $ 1.86 From discontinued operations (0.44 ) (0.04 ) (0.10 ) Total basic earnings (loss) per share $ (1.16 ) $ 1.01 $ 1.76 The components of diluted earnings (loss) per share are as follows: In millions, except per share amounts Year ended December 31 2018 2017 2016 Income (loss) from continuing operations $ (36 ) $ 237 $ 283 Series A convertible preferred stock dividends (49 ) (47 ) — Deemed dividend on modification of Series A Convertible Preferred Stock — (4 ) — Deemed dividend on Series A Convertible Preferred Stock redemption — (58 ) — Net income (loss) from continuing operations attributable to NCR common stockholders (85 ) 128 283 Loss from discontinued operations, net of tax (52 ) (5 ) (13 ) Series A convertible preferred stock dividends — — (49 ) Net income (loss) attributable to NCR common stockholders $ (137 ) $ 123 $ 221 Basic weighted average number of shares outstanding 118.4 121.9 125.6 Dilutive effect of as-if Series A Convertible Preferred Stock — — 28.2 Dilutive effect of employee stock options and restricted stock units — 5.1 3.6 Denominator - from continuing operations 118.4 127.0 157.4 Basic weighted average number of shares outstanding 118.4 121.9 125.6 Dilutive effect of employee stock options and restricted stock units — 5.1 3.6 Denominator - total 118.4 127.0 129.2 Diluted earnings (loss) per share: From continuing operations $ (0.72 ) $ 1.01 $ 1.80 From discontinued operations (0.44 ) (0.04 ) (0.10 ) Total diluted earnings (loss) per share $ (1.16 ) $ 0.97 $ 1.71 For 2018 , diluted earnings (loss) per share from continuing operations and total diluted earnings (loss) per share, it is more dilutive to assume the Series A Convertible Preferred Stock is not converted to common stock and therefore weighted average outstanding shares of common stock are not adjusted by the as-if converted Series A Convertible Preferred Stock shown above because the effect would be anti-dilutive. If the as-if converted Series A Convertible Preferred Stock had been dilutive, approximately 28.3 million additional shares would have been included in the diluted weighted average number of shares outstanding for the year ended December 31, 2018 . For 2018 , there were 6.5 million weighted anti-dilutive restricted stock units outstanding. For 2017 , diluted earnings (loss) per share from continuing operations and total diluted earnings (loss) per share, it is more dilutive to assume the Series A Convertible Preferred Stock is not converted to common stock and therefore weighted average outstanding shares of common stock are not adjusted by the as-if converted Series A Convertible Preferred Stock shown above because the effect would be anti-dilutive. If the as-if converted Series A Convertible Preferred Stock had been dilutive, approximately 27.4 million additional shares, considering the existing and redeemed shares, would have been included in the diluted weighted average number of shares outstanding for the year ended December 31, 2017 . For 2017 , there were 0.8 million weighted anti-dilutive restricted stock units outstanding. For 2016 , diluted earnings (loss) per share from continuing operations, it is more dilutive to assume the Series A Convertible Preferred Stock is converted to common stock and therefore weighted average outstanding shares of common stock are adjusted by the as-if converted Series A Convertible Preferred Stock. For 2016 , total diluted earnings (loss) per share, it is more dilutive to assume the Series A Convertible Preferred Stock is not converted to common stock and therefore weighted average outstanding shares of common stock are not adjusted by the as-if converted Series A Convertible Preferred Stock shown above because the effect would be anti-dilutive. Therefore, total diluted earnings (loss) per share less diluted earnings (loss) per share from continuing operations does not equal diluted earnings (loss) per share from discontinued operations. For 2016 , there were 0.4 million weighted anti-dilutive restricted stock units outstanding. Cash and Cash Equivalents All short-term, highly liquid investments having original maturities of three months or less, including time deposits, are considered to be cash equivalents. Accounts Receivable, net Accounts receivable, net includes amounts billed and currently due from customers as well as amounts unbilled which 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. NCR establishes provisions for doubtful accounts using percentages of accounts receivable balances to reflect historical average credit losses and specific provisions for known issues, such as risks of default. Allowance for Doubtful Accounts NCR establishes provisions for doubtful accounts using percentages of accounts receivable balances to reflect historical average credit losses and specific provisions for known issues. 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 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 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. The following table presents the net contract asset and contract liability balances as of December 31, 2018 and January 1, 2018: In millions Location in the Consolidated Balance Sheet December 31, 2018 January 1, 2018 Current portion of contract assets Other current assets $ 22 $ 28 Current portion of contract liabilities Contract liabilities $ 461 $ 458 Non-current portion of contract liabilities Other liabilities $ 85 $ 95 During the twelve months ended December 31, 2018 , the Company recognized $355 million in revenue that was included in contract liabilities as of January 1, 2018. 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 other current assets and other assets, respectively, in the Consolidated Balance Sheet as of December 31, 2018 . Amortization of deferred commissions is included in selling, general and administrative expenses in the Consolidated Statements of Operations for the year ended December 31, 2018 . 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 and Obligations Funds settlement refers to the process of transferring funds for sales and credits between card issuers and merchants. Depending on the type of transaction, either the credit card interchange system or the debit network is used to transfer the information and funds between the sponsoring bank and card issuing bank to complete the link between merchants and card issuers. In certain of our processing arrangements, merchant funding primarily occurs after the sponsoring bank receives the funds from the card issuer through the card networks, creating a net settlement obligation 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 net settlement asset on the Company’s Consolidated Balance Sheet. Additionally, 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 primarily of our portion of settlement assets due from customers and receivables from merchants for the portion of the discount fee related to reimbursement of the interchange expense, our receivable from the processing bank for transactions we have funded merchants in advance of receipt of card association funding, 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 for transactions for which we have received funding from the members but have not funded merchants and exception items. Settlement processing assets are recorded within other current assets and settlement processing liabilities are recorded within other current liabilities in the Consolidated Balance Sheet. As of December 31, 2018, settlement processing assets were $30 million and settlement processing liabilities were $28 million . 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 2018 2017 2016 Beginning balance as of January 1 $ 366 $ 345 $ 311 Capitalization 170 166 154 Amortization (160 ) (145 ) (118 ) Impairment (51 ) — (2 ) Ending balance as of December 31 $ 325 $ 366 $ 345 During the year ended December 31, 2018 , we recorded the write-off of certain internal and external use software capitalization projects that are no longer considered strategic based on review by the new management team 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. During the second quarter of 2018, under our previous reporting segment structure, we determined there was an indication that the carrying value of the net assets assigned to the Hardware reporting unit may not be recoverable and completed an impairment assessment of goodwill. As a result of the assessment, we recorded an impairment charge for the full value of the goodwill assigned to the Hardware reporting unit. Refer to Note 4, "Goodwill and Purchased Intangible Assets" for further discussion. Additionally, in connection with the change in reportable segments, effective January 1, 2019, the Company determined its reporting units and then assigned goodwill to the new reporting units based on the relative fair value allocation approach. Based on this analysis, it was determined that the fair value of all reporting units were substantially in excess of the carrying value. 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 |
Revenue Recognized Under Previo
Revenue Recognized Under Previous Guidance (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue Recognized Under Previous Guidance [Abstract] | |
Deferred Revenue Disclosure [Text Block] | 2. REVENUE RECOGNIZED UNDER PREVIOUS GUIDANCE As noted in Note 1, “Basis of Presentation and Significant Accounting Policies” the Company adopted the new revenue recognition guidance effective January 1, 2018, using the modified retrospective approach. As a result, we recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings as of January 1, 2018. Adopting the new standard primarily impacted the deferral of incremental commission costs of obtaining SaaS contracts with customers. Other changes impact the timing of recognition for term-based software license sales and renewals, and estimating variable consideration at contract inception. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. As such, the following table presents the results under the previous guidance: For the year ended December 31, 2018 In millions, except per share amounts Under Current Guidance Adjustments Under Previous Guidance Consolidated Statement of Operations Product revenue $ 2,341 $ (32 ) $ 2,309 Cost of products 1,988 (16 ) 1,972 Selling, general and administrative expenses 1,005 1 1,006 Total operating expenses 6,214 (15 ) 6,199 Income (loss) from operations 191 (17 ) 174 Loss from continuing operations before income taxes 39 (17 ) 22 Income tax benefit 73 (4 ) 69 Loss from continuing operations (34 ) (13 ) (47 ) Net loss (86 ) (13 ) (99 ) Net loss attributable to NCR $ (88 ) $ (13 ) $ (101 ) Loss per common share from continuing operations Basic $ (0.72 ) $ (0.11 ) $ (0.83 ) Diluted $ (0.72 ) $ (0.11 ) $ (0.83 ) Net loss per common share Basic $ (1.16 ) $ (0.11 ) $ (1.27 ) Diluted $ (1.16 ) $ (0.11 ) $ (1.27 ) As of December 31, 2018 In millions Under Current Guidance Adjustments Under Previous Guidance Consolidated Balance Sheet Assets Accounts receivable, net $ 1,356 $ 22 $ 1,378 Other current assets 397 (9 ) 388 Total current assets 3,023 13 3,036 Deferred income taxes 448 5 453 Other assets 504 (14 ) 490 Total Assets $ 7,761 $ 4 $ 7,765 Liabilities Contract liabilities $ 461 $ 18 $ 479 Other current liabilities 501 3 504 Total current liabilities 2,282 21 2,303 Total liabilities 6,489 21 6,510 Retained earnings 606 (17 ) 589 Total NCR stockholders’ equity 395 (17 ) 378 Total stockholders’ equity 399 (17 ) 382 Total liabilities and stockholders’ equity $ 7,761 $ 4 $ 7,765 |
Business Combinations and Dives
Business Combinations and Divestitures | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Acquisitions | 3. BUSINESS COMBINATIONS AND DIVESTITURES JetPay Acquisition On December 6, 2018, NCR completed its acquisition of JetPay Corporation ("JetPay"), for which it purchased (i) all outstanding shares of common stock at a price of $5.05 per share, (ii) shares of Series A Preferred Stock at $5.05 per share, (iii) shares of Series A-1 Convertible Preferred Stock at a price of $600 per share, (iv) shares of Series A-2 Convertible Preferred Stock of JetPay at a price of $600 per share, and (v) transaction costs paid on behalf of the seller for an aggregate purchase price of $193 million which was paid in cash. As a result of the acquisition, JetPay became a fully owned subsidiary of NCR. JetPay is a provider of end-to-end payment processing and human capital management solutions. The acquisition is consistent with NCR's continued transformation to a software- and services- driven business. JetPay complements and extends our existing capabilities by allowing us to monetize transactions via payments. Recording of Assets Acquired and Liabilities Assumed The fair value of consideration transferred to acquire JetPay 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. This allocation is open as of December 31, 2018. The allocation of the purchase price for JetPay is as follows: In millions Fair Value Cash acquired $ 4 Tangible assets acquired 76 Acquired intangible assets other than goodwill 109 Acquired goodwill 96 Deferred tax liabilities (16 ) Liabilities assumed (76 ) Total purchase consideration $ 193 Goodwill represents the future economic benefits arising from other assets acquired that could not be individually separately recognized. The goodwill arising from the acquisition consists of revenue synergies expected from combining the operations of NCR and JetPay. It is expected that none 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 our Software segment under the previous segment reporting structure and has been allocated to Retail and Hospitality segments under the new segment reporting structure. Refer to Note 4, "Goodwill and Purchased Intangible Assets" for the carrying amounts of goodwill by segment as of December 31, 2018 which have been reclassified to conform to the current period presentation. The following table sets forth the components of the intangible assets acquired as of the acquisition date: Estimated Fair Value Weighted Average Amortization Period (1) (In millions) (In years) Direct customer relationships $ 69 14 Technology - Software 39 9 Tradenames 1 1 Total acquired intangible assets $ 109 (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. In connection with the closing of the acquisition, the Company incurred approximately $4 million of transactions costs, which has been included within selling, general and administrative expenses in the Consolidated Statements of Operations for the year ended December 31, 2018. Unaudited Pro forma Information The following unaudited pro forma information presents the consolidated results of NCR and JetPay for the years ended December 31, 2017 and 2018. 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 unaudited pro forma consolidated results of operations, assuming the acquisition had occurred on January 1, 2017, are as follows: In millions 2018 2017 Revenue $ 6,468 $ 6,592 Net income attributable to NCR $ (46 ) $ 217 The unaudited pro forma results for the year ended December 31, 2018 include: • $4 million , net of tax, in additional amortization expense for acquired intangible assets; • $4 million , net of tax, in eliminated transaction costs as if those costs were incurred in the prior year period; and • $7 million , net of tax, in additional interest expense from the incremental borrowings under the Senior Secured Credit Facility. The unaudited pro forma results for the year ended December 31, 2017, include: • $5 million , net of tax, in additional amortization expense for acquired intangible assets; • $4 million , net of tax, in transaction costs; and • $7 million , net of tax, in additional interest expense from the incremental borrowings under the Senior Secured Credit Facility. Other acquisitions During the third quarter of 2018, we completed the acquisition of Zipscene LLC which aggregates and enriches data from hospitality customers to provide marketing insights back to our customers and will enable us to increase data monetization. During the fourth quarter of 2018, we completed its acquisition of StopLift Checkout Vision Systems ("StopLift"). StopLift designs Artificial Intelligence technology which identifies fraudulent behavior at the point-of-sale and in self-checkout syste ms. |
Goodwill and Purchased Intangib
Goodwill and Purchased Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Purchased Intangible Assets | 4. GOODWILL AND PURCHASED INTANGIBLE ASSETS Goodwill As discussed in Note 1, “Basis of Presentation and Significant Accounting Policies” , effective January 1, 2019, the Company began management of its business on a industry basis, changing from the previous model of management on a solution basis, which resulted in a corresponding change to NCR's reportable segments. In connection with the change in reportable segments, the Company determined its reporting units and then assigned goodwill to the new reporting units based on the relative fair value allocation approach. Based on this analysis, it was determined that the fair value of all reporting units were substantially in excess of the carrying value. We have reclassified prior period goodwill disclosures to conform to the current period presentation. The carrying amounts of goodwill by segment are included in the tables below. Foreign currency fluctuations are included within other adjustments . January 1, 2018 December 31, 2018 In millions Goodwill Accumulated Impairment Losses Total Additions Impairment Other Goodwill Accumulated Impairment Losses Total Banking $ 1,721 $ (14 ) $ 1,707 $ — $ (87 ) $ (3 ) $ 1,718 $ (101 ) $ 1,617 Retail 478 (5 ) 473 94 (29 ) (1 ) 571 (34 ) 537 Hospitality 377 (3 ) 374 13 (20 ) (5 ) 385 (23 ) 362 Other 188 (1 ) 187 — (10 ) (1 ) 187 (11 ) 176 Total goodwill $ 2,764 $ (23 ) $ 2,741 $ 107 $ (146 ) $ (10 ) $ 2,861 $ (169 ) $ 2,692 January 1, 2017 December 31, 2017 In millions Goodwill Accumulated Impairment Losses Total Additions Impairment Other Goodwill Accumulated Impairment Losses Total Banking $ 1,715 $ (14 ) $ 1,701 $ — $ — $ 6 $ 1,721 $ (14 ) $ 1,707 Retail 476 (5 ) 471 — — 2 478 (5 ) 473 Hospitality 372 (3 ) 369 — — 5 377 (3 ) 374 Other 187 (1 ) 186 — — 1 188 (1 ) 187 Total goodwill $ 2,750 $ (23 ) $ 2,727 $ — $ — $ 14 $ 2,764 $ (23 ) $ 2,741 Under the previous segment reporting structure, late in the quarter ended June 30, 2018, we determined there was an indication that the carrying value of the net assets assigned to the Hardware reporting unit may not be recoverable. This determination was based on the lowering of our full year forecast for 2018, driven by reduced revenue and gross margin rates expected for the third and fourth quarters of 2018, and the resulting impact on the current year and future cash flow projections of the Hardware reporting unit. Given the undiscounted cash flows of the asset group, which we determined to be at the reporting unit level, were below the carrying value of the net assets, we recorded an impairment charge for the difference between the fair value and the carrying value of the long-lived assets. The fair value of the long-lived assets was determined based on the nature of the asset through either third party appraisals, replacement cost or discounted cash flow analysis. As a result, in the three months ended June 30, 2018 the Company recorded impairment charges of $21 million related to property, plant and equipment held and used in NCR's hardware reporting unit, $16 million related to purchased intangibles and $146 million for goodwill assigned to the Hardware reporting unit. These charges were recorded in the line item asset impairment charges in our Consolidated Statement of Operations for the year ended December 31, 2018 . The impairment charges were allocated to the current segment reporting structure based on the relative fair value of each segment as of January 1, 2019 . As discussed in Note 1, “Basis of Presentation and Significant Accounting Policies,” NCR completed the annual goodwill impairment test during the fourth quarter of 2018, under the previous segment reporting model, which did not indicate an impairment existed for the Software or Services segments. Purchased Intangible Assets NCR’s purchased intangible assets were specifically identified when acquired, and are deemed to have finite lives. These assets are reported in intangibles, net in the Consolidated Balance Sheets. 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, 2018 December 31, 2017 In millions Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Identifiable intangible assets Reseller & customer relationships 1 - 20 $ 726 $ (218 ) $ 659 $ (170 ) Intellectual property 2 - 8 443 (373 ) 410 (351 ) Customer contracts 8 89 (87 ) 89 (81 ) Tradenames 2 - 10 75 (60 ) 73 (51 ) Total identifiable intangible assets $ 1,333 $ (738 ) $ 1,231 $ (653 ) The aggregate amortization expense (actual and estimated) for identifiable intangible assets for the following periods is: For the year ended December 31, 2018 For the years ended December 31 (estimated) In millions 2019 2020 2021 2022 2023 Amortization expense $ 85 $ 88 $ 69 $ 60 $ 55 $ 53 |
Series A Preferred Stock (Notes
Series A Preferred Stock (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Series A Preferred Stock [Abstract] | |
Preferred Stock [Text Block] | 5. 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. During the twelve months ended December 31, 2018 , 2017 and 2016 , the Company paid dividends-in-kind of $46 million , $45 million , and $47 million , respectively, associated with the Series A Convertible Preferred Stock. As of December 31, 2018 and 2017 , the Company had accrued dividends of $3 million , respectively, associated with the Series A Convertible Preferred Stock. There were no cash dividends declared during the twelve months ended December 31, 2018 or 2017 . Under the Investment Agreement, Blackstone agreed not to sell or otherwise transfer its shares of Series A Convertible Preferred Stock (or any shares of common stock issued upon conversion thereof) without the Company’s consent until June 4, 2017. In March 2017, we provided Blackstone with an early release from this lock-up, allowing Blackstone to sell approximately 49% of its shares of Series A Convertible Preferred Stock, and in return, Blackstone agreed to amend the Investment Agreement to extend the lock-up on the remaining 51% of its shares of Series A Convertible Preferred Stock for six months until December 1, 2017. In connection with the early release of the lock-up, 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. The repurchase of the common shares immediately upon conversion is considered a redemption of the related preferred shares. As a result, the excess of the fair value of consideration transferred over the carrying value, of $58 million , was included as a deemed dividend in adjusting the income from common stockholders in calculating earnings per share for the year ended December 31, 2017 . Additionally, we determined that the changes to the lock-up period were considered a modification of the Series A Convertible Preferred Stock. The impact of the modification, calculated as the difference in the fair value immediately before and immediately after the changes, of $4 million , was included as a deemed dividend in adjusting the income from common stockholders in calculating earnings per share for the year ended December 31, 2017 . This adjustment was recorded as an increase to the Series A Convertible Preferred Shares and will reduce the accretion of the direct and incremental expenses associated with the original offering as described above. Refer to Note 1, “Basis of Presentation and Significant Accounting Policies” for additional discussion. 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, payable quarterly in arrears and payable in-kind for the first sixteen dividend payments, after which, beginning in the first quarter of 2020, dividends will be 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. Dividends are paid in-kind, through the issuance of additional shares of Series A Convertible Preferred Stock, for the first sixteen dividend payment dates, after which dividends will be payable in cash or in-kind at the option of the Company. 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 and a conversion rate of 33.333 shares of common stock per share of Series A Convertible Preferred Stock. As of December 31, 2018 and 2017 , 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 29.0 million and 27.5 million shares, respectively. 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 on 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 certain designees for election to the Company's Board of Directors, 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. Registration Rights Holders of Series A Convertible Preferred Stock have certain customary registration rights with respect to the Series A Convertible Preferred Stock and the shares of common stock into which they are converted, pursuant to the terms of a registration rights agreement. |
Debt Obligations
Debt Obligations | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Debt Obligations | 6. DEBT OBLIGATIONS The following table summarizes the Company's short-term borrowings and long-term debt: December 31, 2018 December 31, 2017 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) $ 84 4.51% $ 51 3.21% Trade Receivables Securitization Facility 100 3.37% — Other (2) 1 4.92% 1 3.71% Total short-term borrowings $ 185 $ 52 Long-Term Debt Senior Secured Credit Facility: Term loan facility (1) $ 675 4.51% $ 759 3.21% Revolving credit facility (1) 120 4.49% — Senior Notes: 5.00% Senior Notes due 2022 600 600 4.625% Senior Notes due 2021 500 500 5.875% Senior Notes due 2021 400 400 6.375% Senior Notes due 2023 700 700 Deferred financing fees (18 ) (23 ) Other (2) 3 0.59% 3 1.62% Total long-term debt $ 2,980 $ 2,939 (1) Interest rates are weighted average interest rates as of December 31, 2018 and 2017 . (2) Interest rates are weighted average interest rates as of December 31, 2018 and 2017 primarily related to various international credit facilities and a note payable in the U.S. Senior Secured Credit Facility On March 31, 2016, the Company amended and restated its senior secured credit facility with and among certain foreign subsidiaries of NCR (the Foreign Borrowers), the lenders party thereto and JPMorgan Chase Bank, NA (JPMCB) as the administrative agent, and refinanced its term loan facility and revolving credit facility thereunder (the Senior Secured Credit Facility). As of December 31, 2018 , the Senior Secured Credit Facility consisted of a term loan facility with an aggregate principal amount outstanding of $759 million and a revolving credit facility with an aggregate principal amount of $1.1 billion , of which $120 million was outstanding. The revolving credit facility also allows a portion of the availability to be used for outstanding letters of credit, and as of December 31, 2018 , there were no letters of credit outstanding. Up to $400 million of the revolving credit facility is available to the Foreign Borrowers. 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 term loan facility is required to be repaid in equal quarterly installments of approximately $11 million beginning June 30, 2016, $17 million beginning June 30, 2018, and $23 million beginning June 30, 2019, with the balance being due at maturity on March 31, 2021. Borrowings under the revolving portion of the credit facility are due March 31, 2021. Amounts outstanding under the Senior Secured Credit Facility bear interest at LIBOR (or, in the case of amounts denominated in Euros, EURIBOR), or, at NCR’s option, in the case of amounts denominated in U.S. Dollars, at a base rate equal to the highest of (a) the federal funds rate plus 0.50% , (b) JPMCB’s “prime rate” and (c) the one-month LIBOR rate plus 1.00% (the Base Rate), plus, in each case, a margin ranging from 1.25% to 2.25% for LIBOR-based loans that are either term loans or revolving loans and EURIBOR-based revolving loans and ranging from 0.25% to 1.25% for Base Rate-based loans that are either term loans or revolving loans, in each case, depending on the Company’s consolidated leverage ratio. The terms of the Senior Secured Credit Facility also require certain other fees and payments to be made by the Company, including a commitment fee on the undrawn portion of the revolving credit facility. The obligations of the Company and Foreign Borrowers under the Senior Secured Credit Facility are guaranteed by certain of the Company's wholly-owned domestic subsidiaries. The Senior Secured Credit Facility and these guarantees are secured by a first priority lien and security interest in certain equity interests owned by the Company and the guarantor subsidiaries in certain of their respective domestic and foreign subsidiaries, and a perfected first priority lien and security interest in substantially all of the Company's U.S. assets and the assets of the guarantor subsidiaries, 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 that 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 financial covenants that require 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 after December 31, 2017 and on or prior to December 31, 2019, (a) the sum of 4.00 and an amount (not to exceed 0.50 ) to reflect debt used to reduce NCR’s unfunded pension liabilities to (b) 1.00 , and (ii) in the case of any fiscal quarter ending after December 31, 2019, the sum of (a) 3.75 and an amount (not to exceed 0.50 ) to reflect debt used to reduce NCR’s unfunded pension liabilities to (b) 1.00 ; and • an interest coverage ratio on the last day of any fiscal quarter greater than or equal to 3.50 to 1.00 . At December 31, 2018 , the maximum consolidated leverage ratio under the Senior Secured Credit Facility was 4.10 to 1.00. 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, but the lenders are not obligated to fund, the establishment of 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) with commitments in an aggregate amount not to exceed the greater of (i) $150 million , and (ii) such amount as would not (a) prior to the date that the Company obtains an investment grade rating 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 2.50 to 1.00, and (b) on and after the date that the Company obtains an "investment grade" rating 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 a ratio that is 0.50 less than the leverage ratio then applicable under the financial covenants of the Senior Secured Credit Facility, the proceeds of which can be used for working capital requirements and other general corporate purposes. Senior Unsecured Notes On September 17, 2012, the Company issued $600 million aggregate principal amount of 5.00% senior unsecured notes due in 2022 (the 5.00% Notes). The 5.00% Notes were sold at 100% of the principal amount and will mature on July 15, 2022. On December 18, 2012, the Company issued $500 million aggregate principal amount of 4.625% senior unsecured notes due in 2021 (the 4.625% Notes). The 4.625% Notes were sold at 100% of the principal amount and will mature on February 15, 2021. On December 19, 2013, the Company issued $400 million aggregate principal amount of 5.875% senior unsecured notes due in 2021 (the 5.875% Notes) and $700 million aggregate principal amount of 6.375% senior unsecured notes due in 2023 (the 6.375% Notes). The 5.875% Notes were sold at 100% of the principal amount and will mature on December 15, 2021 and the 6.375% Notes were sold at 100% of the principal amount and will mature on December 15, 2023. The senior unsecured notes are guaranteed, fully and unconditionally, on an unsecured senior basis, by our 100% owned subsidiary, NCR International, Inc. Under the indentures for these notes, the Company has the option to redeem each series of notes, in whole or in part, at various times for specified prices, plus accrued and unpaid interest. Under the indentures for these notes, the Company has the option to redeem each series of notes, in whole or in part, at various times for specified prices, plus accrued and unpaid interest. The Company has the option to redeem the 5.00% Notes, in whole or in part, at any time on or after July 15, 2017, at a redemption price of 102.500% , 101.667% , 100.833% and 100.000% during the 12-month periods commencing on July 15, 2017, 2018, 2019 and 2020 and thereafter, respectively, plus accrued and unpaid interest to the redemption date. The Company has the option to redeem the 4.625% Notes, in whole or in part, at any time on or after February 15, 2017, at a redemption price of 102.313% , 101.156% and 100% during the 12-month periods commencing on February 15, 2017, 2018 and 2019 and thereafter, respectively, plus accrued and unpaid interest to the redemption date. The Company has the option to redeem the 5.875% Notes, in whole or in part, at any time on or after December 15, 2017, at a redemption price of 102.938% , 101.469% and 100% during the 12-month periods commencing on December 15, 2017, 2018 and 2019 and thereafter, respectively, plus accrued and unpaid interest to the redemption date. The Company has the option to redeem the 6.375% Notes, in whole or in part, at any time on or after December 15, 2018, at a redemption price of 103.188% , 102.125% , 101.063% and 100% during the 12-month periods commencing on December 15, 2018, 2019, 2020 and 2021 and thereafter, respectively, plus accrued and unpaid interest to the redemption date. Prior to December 15, 2018, the Company may redeem the 6.375% 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. 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. Trade Receivables Securitization Facility In November 2014, the Company established a revolving trade receivables securitization facility (the A/R Facility) with PNC Bank, National Association (PNC) as the administrative agent, and various lenders. In November 2016, the Company amended the A/R Facility to extend the maturity date to November 2018. In November 2018, the Company amended the A/R Facility to extend the maturity date to November 2020. The amendment also included other modifications including the scope of receivables subject to the facility and related eligibility requirements, procedures for selecting and adopting a replacement benchmark rate in the event of certain discontinuations of LIBOR, and the fees and interest payable to the lenders party thereto. The A/R Facility provides for up to $200 million in funding based on the availability of eligible receivables and other customary factors and conditions, of which $100 million was outstanding as of December 31, 2018 . Under the A/R Facility, NCR sells and/or contributes certain of its U.S. trade receivables to a wholly-owned, bankruptcy-remote subsidiary as they are originated, and advances by the lenders to that subsidiary are secured by those trade receivables. The assets of this financing subsidiary are restricted as collateral for the payment of its obligations under the A/R Facility, and its assets and credit are not available to satisfy the debts and obligations owed to the creditors of the Company. The Company includes the assets, liabilities and results of operations of this financing subsidiary in its consolidated financial statements. The financing subsidiary owned $526 million and $491 million of outstanding accounts receivable as of December 31, 2018 and 2017 , respectively, and these amounts are included in accounts receivable, net in the Company’s Consolidated Balance Sheets. The financing subsidiary will pay annual commitment and other customary fees to the lenders, and advances by a lender under the A/R Facility will accrue interest (i) at a reserve-adjusted LIBOR rate or a base rate equal to the highest of (a) the applicable lender’s prime rate or (b) the federal funds rate plus 0.50% , if the lender is funding as a committed lender under the terms of the A/R Facility, or (ii) based on commercial paper interest rates if the lender is funding as a commercial paper conduit lender. Advances may be prepaid at any time without premium or penalty. The A/R Facility contains various customary affirmative and negative covenants and default and termination provisions which provide for the acceleration of the advances under the A/R Facility in circumstances including, but not limited to, failure to pay interest or principal 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. Debt Maturities Maturities of debt outstanding, in principal amounts, at December 31, 2018 are summarized below: For the years ended December 31 In millions Total 2019 2020 2021 2022 2023 Thereafter Debt maturities $ 3,183 $ 85 $ 190 $ 1,605 $ 600 $ 700 $ 3 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, 2018 and 2017 was $3.11 billion and $3.07 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. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 7. INCOME TAXES On December 22, 2017, the U.S. enacted comprehensive and complex tax legislation commonly referred to as the Tax Cuts and Jobs Act of 2017 (“U.S. Tax Reform”). The legislation resulted in a permanent reduction in the corporate tax rate to 21% and a one-time mandatory tax on certain undistributed earnings of foreign subsidiaries (“repatriation tax”). U.S. Tax Reform also put in place several new tax laws that are generally effective prospectively from January 1, 2018, including but not limited to: a base erosion and anti-abuse tax; elimination of U.S. federal taxes on substantially all dividends from foreign subsidiaries; a lower U.S. tax rate on certain revenues from sources outside the U.S.; and, implementation of a new provision to tax certain global intangible low-taxed income (“GILTI”) of foreign subsidiaries. U.S. GAAP generally requires that the overall impact of tax legislation is recorded in the quarter of enactment. However, given the fundamental complexity of U.S. Tax Reform, the SEC staff issued Staff Accounting Bulletin No. 118 (SAB 118) that allowed the Company to record provisional amounts for the impacts of the legislation at the time the law was enacted, with the requirement that the accounting be completed in a period not to exceed one year from the date of enactment of the legislation with updates of the provisional amount into future periods. As of December 31, 2017, the Company had not completed the accounting in its entirety for the tax effects of the legislation. The Company made a reasonable estimate of the impact of U.S. Tax Reform and recorded a provisional tax expense of $130 million in the year ended December 31, 2017. This provisional tax expense included a $94 million tax expense to remeasure the net U.S. deferred tax assets to the newly enacted 21% corporate income tax rate and a $36 million tax expense related to the repatriation tax. As of December 31, 2018, we have completed our assessment of the impact of U.S Tax Reform which resulted in an additional net income tax expense of $37 million recorded during the year ended December 31, 2018 . The expense primarily consists of $43 million benefit related to deferred tax asset rate remeasurement and an $80 million tax expense related to the write off of expected foreign tax credit offsets to unrecognized tax benefits and the establishment of a valuation allowance on deferred tax assets related to foreign tax credits that are not more likely than not to be realized as a result of the U.S. Tax Reform. Additionally, we have elected to treat any taxes due on the GILTI inclusion as a current period expense. NCR did not provide for additional U.S. income tax or foreign withholding taxes, if any, on approximately $2.7 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 $176 million . The unrecognized deferred tax liability is made up of a combination of U.S. and state income taxes and foreign withholding taxes. During the year ended December 31, 2018 , the Company identified two out of period adjustments that net to $2 million of income tax benefit. The first adjustment was due to an error in the calculation of deferred tax liabilities associated with software capitalization resulting in $13 million of income tax benefit which should have been recorded during the year ended December 31, 2017 when deferred taxes were remeasured in connection with U.S. Tax Reform. The second adjustment was to write-off income tax assets related to expired foreign tax credits resulting in $11 million of income tax expense which should have been recorded between 2010 through 2017. The Company determined the impact of these errors was not material to the annual or interim financial statements of previous periods and the effect of correcting these errors was not material to 2018 annual financial statements. For the years ended December 31 , income (loss) from continuing operations before income taxes consisted of the following: In millions 2018 2017 2016 Income (loss) before income taxes United States $ (262 ) $ 149 $ 35 Foreign 301 333 344 Total income (loss) from continuing operations before income taxes $ 39 $ 482 $ 379 For the years ended December 31 , income tax expense (benefit) consisted of the following: In millions 2018 2017 2016 Income tax expense (benefit) Current Federal $ 18 $ 14 $ 18 State — 2 4 Foreign 42 54 60 Deferred Federal (2 ) 178 12 State 1 (3 ) 1 Foreign 14 (3 ) (3 ) Total income tax expense (benefit) $ 73 $ 242 $ 92 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 2018 2017 2016 Income tax (benefit) expense at the U.S. federal tax rate of 21% for 2018 and 35% for 2017 and 2016, respectively $ 8 $ 169 $ 133 Foreign income tax differential 22 (38 ) (26 ) State and local income taxes (net of federal effect) 2 (1 ) 3 Other U.S. permanent book/tax differences — 1 1 Meals and entertainment expense 2 2 1 Cash surrender value received as income — — (1 ) Executive compensation 4 1 1 Employee share-based payments 3 (3 ) 3 Change in branch tax status (9 ) — — Goodwill impairment 30 — — Research and development tax credits (6 ) (4 ) (4 ) U.S. manufacturing deduction — (9 ) (7 ) U.S. valuation allowance (1) 16 — — U.S tax reform 37 130 — Change in liability for unrecognized tax benefits (1) (23 ) (2 ) (12 ) Prior period adjustments (11 ) — — Other, net (2 ) (4 ) — Total income tax expense (benefit) $ 73 $ 242 $ 92 (1) Does not include the impact of items included in the U.S. Tax Reform category 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 2018 , the tax rate was impacted by $37 million of tax expense relating to U.S. Tax Reform. During 2017 , the tax rate was impacted by a provisional charge of $130 million relating to U.S. Tax Reform. During 2016 , the tax rate was impacted by a less favorable mix of earnings, primarily driven by actuarial pension losses in foreign jurisdictions with valuation allowance against deferred tax assets. 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. Given current earnings and anticipated future earnings at certain subsidiaries, the Company believes that there is a reasonable possibility sufficient positive evidence may become available that would allow the release of a valuation allowance within the next twelve months. Deferred income tax assets and liabilities included in the Consolidated Balance Sheets as of December 31 were as follows: In millions 2018 2017 Deferred income tax assets Employee pensions and other benefits $ 223 $ 230 Other balance sheet reserves and allowances 141 185 Tax loss and credit carryforwards 682 525 Capitalized research and development 53 50 Property, plant and equipment 11 6 Other 38 27 Total deferred income tax assets 1,148 1,023 Valuation allowance (485 ) (415 ) Net deferred income tax assets 663 608 Deferred income tax liabilities Intangibles 151 129 Capitalized software 78 27 Other 7 16 Total deferred income tax liabilities 236 172 Total net deferred income tax assets $ 427 $ 436 NCR recorded valuation allowances related to certain deferred income tax assets due to the uncertainty of the ultimate realization of the future benefits from those assets. The 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, 2018 , NCR had U.S. federal, U.S. state (tax effected), and foreign tax attribute carryforwards of approximately $1.6 billion . The net operating loss carryforwards that are subject to expiration will expire in the years 2019 through 2037. This includes U.S. tax credit carryforwards of $301 million . Approximately $10 million of the credit carryforwards will be refunded by 2022 due to U.S. Tax Reform, and $291 million of the credit carryforwards expire in the years 2019 through 2038. 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 2018 2017 2016 Gross unrecognized tax benefits - January 1 $ 196 $ 183 $ 209 Increases related to tax positions from prior years 9 3 3 Decreases related to tax positions from prior years (50 ) (1 ) (34 ) Increases related to tax provisions taken during the current year 9 23 23 Settlements with tax authorities (45 ) (4 ) (6 ) Lapses of statutes of limitation (9 ) (8 ) (12 ) Total gross unrecognized tax benefits - December 31 $ 110 $ 196 $ 183 Of the total amount of gross unrecognized tax benefits as of December 31, 2018 , $84 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 $9 million of benefit, $2 million of expense, and zero for the years ended December 31, 2018 , 2017 , and 2016 , respectively. The gross amount of interest and penalties accrued as of December 31, 2018 and 2017 was $33 million and $45 million , respectively. In the U.S., NCR files consolidated federal and state income tax returns where statutes of limitations generally range from three to five years. The Company resolved examinations for the tax years of 2011, 2012 and 2013 with the IRS in 2018, and U.S. federal tax years remain open from 2014 forward. Years beginning on or after 2001 are still open to examination by certain foreign taxing authorities, including India, Egypt, and other major taxing jurisdictions. During 2019 , the Company expects to resolve certain tax matters related to U.S. and foreign jurisdictions. As of December 31, 2018 , we estimate that it is reasonably possible that unrecognized tax benefits may decrease by $5 million to $10 million |
Employee Stock Compensation Pla
Employee Stock Compensation Plans | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Employee 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, 2018 , 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 2018 2017 2016 Restricted stock units $ 65 $ 73 $ 61 Employee stock purchase plan 4 4 — Stock options 4 — — Stock-based compensation expense 73 77 61 Tax benefit (10) (22) (18 ) Total stock-based compensation (net of tax) $ 63 $ 55 $ 43 Approximately 22 million shares remain authorized to be issued under the 2013 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, 2018 : Shares in thousands Number of Units Weighted Average Grant-Date Fair Value per Unit Unvested shares as of January 1 7,158 $ 29.78 Shares granted 3,440 $ 26.25 Shares vested (2,980 ) $ 27.45 Shares forfeited (1,652 ) $ 30.58 Unvested shares as of December 31 5,966 $ 28.69 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 $90 million in 2018 , $87 million in 2017 , and $42 million in 2016 . As of December 31, 2018 , there was $79 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 1.1 years. The weighted average grant date fair value for restricted stock unit awards granted in 2017 and 2016 was $46.95 and $20.45 , respectively. The following table represents the composition of restricted stock unit grants in 2018 : Shares in thousands Number of Units Weighted Average Grant-Date Fair Value Service-based units 2,168 $ 31.12 Performance-based units 1,272 $ 17.97 Total restricted stock units 3,440 $ 26.25 At December 31, 2018 , certain of the performance-based shares granted in 2018 were not probable of vesting. 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. Stock compensation expense is recognized in the financial statements based upon grant date fair value and is computed using the Black-Scholes option-pricing model. During the year ended December 31, 2018 , the Company granted stock options and the weighted average fair value of option grants was estimated based on the below weighted average assumptions, which was $9.80 . The stock options were granted with a seven year contractual term that will vest over four years. For the years ended December 31, 2017 and 2016 , the Company did not grant a significant amount of stock options. For the year ended December 31, 2018 Dividend yield — Risk-free interest rate 2.50 % Expected volatility 34.88 % Expected holding period - years 3.8 years Expected volatility is calculated as the historical volatility of the Company’s stock over a period equal to the expected term of the options, as management believes this is the best representation of prospective trends. The Company uses historical data to estimate option exercise and employee terminations within the valuation model. The expected holding period represents the period of time that options are expected to be outstanding. The risk-free interest rate for periods within the contractual life of the option is based on a blend of the three and five-year U.S. Treasury yield curve in effect at the time of grant. The following table summarizes the Company’s stock option activity for the year ended December 31, 2018 : 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 1 475 $ 16.70 Granted 2,869 $ 30.59 Exercised (277 ) $ 17.75 Forfeited or expired (461 ) $ 32.57 Outstanding as of December 31 2,606 $ 29.08 6.01 $ 1.56 Fully vested and expected to vest as of December 31 2,402 $ 30.21 6.39 $ — Exercisable as of December 31 204 $ 15.77 1.57 $ 1.56 As of December 31, 2018 , the total unrecognized compensation cost of $16 million related to unvested stock option grants is expected to be recognized over a weighted average period of approximately 1.7 years. The total intrinsic value of all options exercised was $4 million in 2018 , $3 million in 2017 , and $6 million in 2016 . Cash received from option exercises under all share-based payment arrangements was $4 million in 2018 , $2 million in 2017 , and $8 million in 2016 . The tax benefit realized from these exercises was $1 million in 2018 , $1 million in 2017 , and $2 million in 2016 . |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans [Text Block] | 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 corporate and government debt securities, common and commingled trusts, 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 2018 2017 2018 2017 2018 2017 Change in benefit obligation Benefit obligation as of January 1 $ 1,950 $ 2,185 $ 1,273 $ 1,172 $ 3,223 $ 3,357 Net service cost — — 7 8 7 8 Interest cost 61 71 20 20 81 91 Amendment — — 4 — 4 — Actuarial (gain) loss (149 ) 121 (83 ) 43 (232 ) 164 Benefits paid (99 ) (427 ) (86 ) (75 ) (185 ) (502 ) Plan participant contributions — — 1 1 1 1 Currency translation adjustments — — (44 ) 104 (44 ) 104 Benefit obligation as of December 31 $ 1,763 $ 1,950 $ 1,092 $ 1,273 $ 2,855 $ 3,223 Accumulated benefit obligation as of December 31 $ 1,763 $ 1,950 $ 1,080 $ 1,262 $ 2,843 $ 3,212 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 2018 2017 2018 2017 2018 2017 Change in plan assets Fair value of plan assets as of January 1 $ 1,444 $ 1,722 $ 1,086 $ 978 $ 2,530 $ 2,700 Actual return on plan assets (76 ) 149 (34 ) 80 (110 ) 229 Company contributions — — 24 25 24 25 Benefits paid (99 ) (427 ) (86 ) (75 ) (185 ) (502 ) Currency translation adjustments — — (38 ) 77 (38 ) 77 Plan participant contributions — — 1 1 1 1 Fair value of plan assets as of December 31 $ 1,269 $ 1,444 $ 953 $ 1,086 $ 2,222 $ 2,530 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 2018 2017 2018 2017 2018 2017 Funded Status $ (494 ) $ (506 ) $ (139 ) $ (187 ) $ (633 ) $ (693 ) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ — $ — $ 140 $ 118 $ 140 $ 118 Current liabilities — — (14 ) (13 ) (14 ) (13 ) Noncurrent liabilities (494 ) (506 ) (265 ) (292 ) (759 ) (798 ) Net amounts recognized $ (494 ) $ (506 ) $ (139 ) $ (187 ) $ (633 ) $ (693 ) Amounts recognized in accumulated other comprehensive loss Prior service cost — — 21 18 21 18 Total $ — $ — $ 21 $ 18 $ 21 $ 18 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 $2,016 million , $2,012 million , and $1,271 million , respectively, as of December 31, 2018 , and $2,229 million , $2,223 million and $1,446 million , respectively, as of December 31, 2017 . 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 2018 2017 2016 2018 2017 2016 2018 2017 2016 Net service cost $ — $ — $ — $ 7 $ 8 $ 7 $ 7 $ 8 $ 7 Interest cost 61 71 90 20 20 28 81 91 118 Expected return on plan assets (43 ) (57 ) (72 ) (32 ) (35 ) (36 ) (75 ) (92 ) (108 ) Amortization of prior service cost — — — 1 1 1 1 1 1 Actuarial (gain) loss (29 ) 28 16 (16 ) — 69 (45 ) 28 85 Net periodic benefit (income) cost $ (11 ) $ 42 $ 34 $ (20 ) $ (6 ) $ 69 $ (31 ) $ 36 $ 103 Actuarial gains in 2018 were due to an increase in the discount rate as well as a favorable impact from a mortality update in the United Kingdom. Discount rates in 2017 remained consistent with 2016 and actuarial losses in 2017 were primarily due to a mortality update in the United States. Actuarial losses in 2016 were due to a decrease in the discount rate from the prior year, offset by a higher than expected return on global pension assets. During 2017, the Company offered a voluntary lump sum payment option to certain former employees who were deferred vested participants of the Company's U.S. pension plan who had not yet started monthly payments of their pension benefit. The voluntary lump sum payment offer, which resulted in approximately $130 million being paid out of plan assets, was completed during the fourth quarter of 2017. Additionally, during 2017, the Company entered into a single premium group annuity contract to secure approximately $190 million of benefits for former employees or their related beneficiaries whose monthly pension benefit amount under the Company’s U.S. pension plan was $500 or less. These actions were completed during the fourth quarter of 2017 which resulted in an actuarial gain of $25 million and is reflected as a component of the actuarial loss as a result of the annual remeasurement completed in the fourth quarter of 2017 . Effective January 1, 2017, we changed the method used to estimate the service and interest components of net periodic benefit cost for our significant pension plans where yield curves are available. Previously, we estimated such cost components utilizing a single weighted-average discount rate derived from the yield curve used to measure the pension benefit obligation. The new methodology utilizes a full yield curve approach by applying the specific spot rates along the yield curve used in the determination of the pension benefit obligation to their underlying projected cash flows and provides a more precise measurement of service and interest costs by improving the correlation between projected cash flows and their corresponding spot rates. This change does not affect the measurement of our total benefit obligation and was applied prospectively as a change in estimate, beginning January 1, 2017. 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 2018 2017 2018 2017 2018 2017 Discount rate 4.2 % 3.6 % 2.1 % 1.9 % 3.4 % 2.9 % Rate of compensation increase N/A N/A 1.0 % 0.9 % 1.0 % 0.9 % 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 2018 2017 2016 2018 2017 2016 2018 2017 2016 Discount rate - Service Cost N/A N/A N/A 1.4 % 1.4 % 2.6 % 1.4 % 1.4 % 2.6 % Discount rate - Interest Cost 3.2 % 3.4 % 4.3 % 1.6 % 1.6 % 2.6 % 2.6 % 2.8 % 3.7 % Expected return on plan assets 3.1 % 3.5 % 4.3 % 3.0 % 3.5 % 3.8 % 3.1 % 3.5 % 4.1 % Rate of compensation increase N/A N/A N/A 0.9 % 0.9 % 1.3 % 0.9 % 0.9 % 1.3 % The weighted-average cash balance interest crediting rate for the Company's cash balance defined benefit plans was 1.4% for the years ended December 31, 2018 and 2017 , respectively. The discount rate used to determine U.S. benefit obligations as of December 31, 2018 was derived by matching the plans’ expected future cash flows to the corresponding yields from the Aon Hewitt AA Bond Universe Curve. This 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. During 2014, the Society of Actuaries published updated mortality tables and an improvement scale for U.S. plans, which both reflect improved longevity. Based on evaluation of these new tables, we updated our mortality assumptions for our U.S. pension benefits as of December 31, 2016 . In 2017, we made a further update to utilize the white collar version of the 2014 tables due to a study of plan specific experience. 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, 2018 and 2017 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 Actual Allocation of Plan Assets as of December 31 Target Asset Allocation 2018 2017 2018 2017 Equity securities — % — % 0 - 0% 20 % 22 % 12 - 27% Debt securities 98 % 98 % 95 - 100% 57 % 58 % 54 - 72% Real estate 1 % 1 % 0 - 2% 14 % 12 % 6 - 14% Other 1 % 1 % 0 - 3% 9 % 8 % 4 - 9% Total 100 % 100 % 100 % 100 % The fair value of plan assets as of December 31, 2018 and 2017 by asset category is as follows: U.S. International In millions Notes Fair Value as of December 31, 2018 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, 2018 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 $ — $ — $ — $ — $ — $ 44 $ 44 $ — $ — $ — Fixed income securities: Government securities 2 247 — 247 — — — — — — — Corporate debt 3 761 — 761 — — 100 — 100 — — Other types of investments: Money market funds 4 13 — 2 — 11 8 — 8 — — Common and commingled trusts - Equities 4 — — — — — 150 — — — 150 Common and commingled trusts - Bonds 4 174 — — — 174 405 — — — 405 Common and commingled trusts - Short Term Investments 4 27 — — — 27 40 — — — 40 Common and commingled trusts - Balanced 4 — — — — — 76 — — — 76 Partnership/joint venture interests - Real estate 5 4 — — — 4 — — — — — Partnership/joint venture interests - Other 5 4 — — — 4 — — — — — Mutual funds 4 39 39 — — — — — — — — Hedge Funds 5 — — — — — — — — — — Insurance products 4 — — — — — 1 — 1 — — Real estate and other 5 — — — — — 129 — — 129 — Total $ 1,269 $ 39 $ 1,010 $ — $ 220 $ 953 $ 44 $ 109 $ 129 $ 671 U.S. International In millions Notes Fair Value as of December 31, 2017 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, 2017 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 $ 1 $ — $ 1 $ — $ — $ 56 $ 56 $ — $ — $ — Fixed income securities: Government securities 2 223 — 223 — — 49 — 49 — — Corporate debt 3 895 — 895 — — 141 — 139 2 — Other types of investments: Money market funds 4 24 — — — 24 15 — 10 — 5 Common and commingled trusts - Equities 4 — — — — — 182 — — — 182 Common and commingled trusts - Bonds 4 207 — — — 207 421 — — — 421 Common and commingled trusts - Short Term Investments 4 31 — — — 31 24 — — — 24 Common and commingled trusts - Balanced 4 — — — — — 68 — — — 68 Partnership/joint venture interests - Real estate 5 5 — — — 5 — — — — — Partnership/joint venture interests - Other 5 5 — — — 5 — — — — — Mutual funds 4 53 53 — — — — — — — — Hedge Funds 5 — — — — — — — — — — Insurance products 4 — — — — — 1 — 1 — — Real estate and other 5 — — — — — 129 — — 129 — Total $ 1,444 $ 53 $ 1,119 $ — $ 272 $ 1,086 $ 56 $ 199 $ 131 $ 700 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 and hedge funds 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 and in the case of hedge funds they are valued using a Net Asset Value (NAV) provided by the manager of each fund. 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, 2016 $ 124 Realized and unrealized gains and losses, net 7 Purchases, sales and settlements, net — Transfers, net — Balance, December 31, 2017 $ 131 Realized and unrealized gains and losses, net — Purchases, sales and settlements, net — Transfers, net (2 ) Balance, December 31, 2018 $ 129 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. To reduce volatility in the value of assets held by the U.S. pension plan, we have rebalanced the asset allocation to a portfolio of 98% of fixed income assets as of December 31, 2018 . Similar investment strategy changes are under consideration or being implemented in a number of NCR’s international plans. The investment portfolios contain primarily 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 2018 2017 Change in benefit obligation Benefit obligation as of January 1 $ 21 $ 25 Interest cost — 1 Actuarial gain (3 ) (3 ) Plan participant contributions 1 — Benefits paid (1 ) (2 ) Benefit obligation as of December 31 $ 18 $ 21 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 : Postretirement Benefits In millions 2018 2017 Benefit obligation $ (18 ) $ (21 ) Amounts recognized in the Consolidated Balance Sheets Current liabilities $ (2 ) $ (2 ) Noncurrent liabilities (16 ) (19 ) Net amounts recognized $ (18 ) $ (21 ) Amounts recognized in accumulated other comprehensive loss Net actuarial loss $ 7 $ 11 Prior service benefit (8 ) (13 ) Total $ (1 ) $ (2 ) The net periodic benefit income of the postretirement plan for the years ended December 31 was: In millions Postretirement Benefits 2018 2017 2016 Interest cost $ — $ 1 $ 1 Amortization of: Prior service benefit (5 ) (6 ) (14 ) Actuarial loss 1 2 2 Net periodic benefit income $ (4 ) $ (3 ) $ (11 ) 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 2018 2017 2016 2018 2017 2016 Discount rate 3.7 % 3.1 % 3.2 % 3.1 % 3.2 % 3.3 % Assumed healthcare cost trend rates as of December 31 were: 2018 2017 Pre-65 Coverage Post-65 Coverage Pre-65 Coverage Post-65 Coverage Healthcare cost trend rate assumed for next year 7.1 % 6.1 % 6.6 % 5.9 % 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 2027 2027 2025 2025 In addition, a one percentage point change in assumed healthcare cost trend rates would have had an immaterial impact on the postretirement benefit income and obligation. Postemployment Benefits Reconciliation of the beginning and ending balances of the benefit obligation for NCR's postemployment plan was: Postemployment Benefits In millions 2018 2017 Change in benefit obligation Benefit obligation as of January 1 $ 142 $ 127 Service cost 43 34 Interest cost 3 2 Benefits paid (40 ) (34 ) Foreign currency exchange (6 ) 9 Actuarial (gain) loss (3 ) 4 Benefit obligation as of December 31 $ 139 $ 142 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 2018 2017 Benefit obligation $ (139 ) $ (142 ) Amounts recognized in the Consolidated Balance Sheets Current liabilities $ (37 ) $ (28 ) Noncurrent liabilities (102 ) (114 ) Net amounts recognized $ (139 ) $ (142 ) Amounts recognized in accumulated other comprehensive loss Net actuarial gain $ (28 ) $ (20 ) Prior service benefit (6 ) (11 ) Total $ (34 ) $ (31 ) The net periodic benefit cost of the postemployment plan for the years ended December 31 was: In millions Postemployment Benefits 2018 2017 2016 Service cost $ 43 $ 34 $ 16 Interest cost 3 2 3 Amortization of: Prior service benefit (5 ) (6 ) (6 ) Actuarial gain (1 ) (6 ) (7 ) Net benefit cost $ 40 $ 24 $ 6 Restructuring severance cost — — 4 Net periodic benefit cost $ 40 $ 24 $ 10 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 2018 2017 2018 2017 2016 Discount rate 2.4 % 2.3 % 2.3 % 2.0 % 2.2 % Salary increase rate 1.9 % 1.9 % 1.9 % 1.8 % 2.1 % Involuntary turnover rate 4.3 % 4.8 % 4.8 % 4.8 % 4.8 % Cash Flows Related to Employee Benefit Plans Cash Contributions NCR does not plan to contribute to the U.S. qualified pension plan in 2019 , and plans to contribute approximately $28 million to the international pension plans in 2019 . The Company also plans to make contributions of approximately $2 million to the U.S. postretirement plan and approximately $30 million to the postemployment plan in 2019 . 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 2019 $ 105 $ 50 $ 155 $ 2 $ 30 2020 $ 107 $ 50 $ 157 $ 2 $ 20 2021 $ 110 $ 49 $ 159 $ 2 $ 19 2022 $ 112 $ 50 $ 162 $ 1 $ 17 2023 $ 114 $ 48 $ 162 $ 1 $ 16 2024-2028 $ 581 $ 255 $ 836 $ 4 $ 66 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 $27 million in 2018 , $26 million in 2017 , and $24 million in 2016 . The expense under international and subsidiary savings plans was $24 million in 2018 , $24 million in 2017 , and $26 million in 2016 . 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 2019 are as follows: In millions U.S. Pension Benefits International Pension Benefits Total Pension Benefits Postretirement Benefits Postemployment Benefits Prior service cost (benefit) $ — $ 1 $ 1 $ (5 ) $ (2 ) Actuarial loss (gain) $ — $ — $ — $ 1 $ (2 ) |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
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, 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 Fox River and Kalamazoo River environmental matters 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. In June 2014, one of the Company’s Brazilian subsidiaries, NCR Manaus, was notified of a Brazilian federal tax assessment of R 168 million , or approximately $43 million as of December 31, 2018 , including penalties and interest regarding certain federal indirect taxes for 2010 through 2012. The assessment alleges improper importation of certain components into Brazil's free trade zone that would nullify related indirect tax incentives. We have not recorded an accrual for the assessment, as the Company believes it has a valid position regarding indirect taxes in Brazil and, as such, has filed an appeal in 2014. In December 2017, the Company prevailed in this appeal regarding substantially all of the disputed amounts. However, the Brazilian federal tax authority has further appealed this dispute to the next procedural level, so the dispute is ongoing. In further proceedings on this matter, an intermediate tribunal decided in NCR's favor in August 2018; a written opinion had not been issued as of December 31, 2018, but is expected soon. The Brazilian tax authorities will have the ability to appeal the decision. The Company estimated the aggregate risk related to this matter to be between zero and $64 million as of December 31, 2018 . Although the Company has not recorded an accrual, it is possible that the Company could be required to pay taxes, penalties and interest related to this matter, which could be material to the Company's Consolidated Financial Statements. 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 Fox River matter and the Kalamazoo River matter discussed below, we currently do not anticipate material expenses and liabilities from these environmental matters. Fox River NCR is one of eight entities that were formally notified by governmental and other entities, such as local Native American tribes, that they are PRPs 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. The other Fox River PRPs that received notices include Appleton Papers Inc. (API; now known as Appvion, Inc.), P.H. Glatfelter Company ("Glatfelter"), Georgia-Pacific Consumer Products LP (GP, successor to Fort James Operating Company), and others. 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. NCR sold its facilities in 1978 to API. The parties have also contended that NCR is responsible for PCB discharges from paper mills owned by other companies because NCR carbonless copy paper "broke" was allegedly purchased by those other mills as a raw material. The United States Environmental Protection Agency (USEPA) and Wisconsin Department of Natural Resources (together, the Governments) developed clean-up plans for the upper and lower parts of the Fox River and for portions of the Bay of Green Bay. On November 13, 2007, the Governments issued a unilateral administrative order (the 2007 Order) under CERCLA to the eight original PRPs, requiring them to perform remedial work under the Governments’ clean-up plan for the lower parts of the river (operable units 2 through 5). In April 2009, NCR and API formed a limited liability company (the LLC), which entered into an agreement with an environmental remediation contractor to perform the work at the Fox River site. In-water dredging and remediation under the clean-up plan commenced shortly thereafter. NCR and API, along with B.A.T Industries p.l.c. (BAT), share among themselves a portion of the cost of the Fox River clean-up and natural resource damages (NRD) based upon a 1998 agreement (the Cost Sharing Agreement), a 2005 arbitration award (subsequently confirmed as a judgment), and a September 30, 2014 Funding Agreement (the Funding Agreement). The Cost Sharing Agreement and the arbitration resolved disputes that arose out of the Company's 1978 sale of its Fox River facilities to API. The Cost Sharing Agreement and arbitration award resulted in a 45% share for NCR of the first $75 million of such costs (a threshold that was reached in 2008), and a 40% share for amounts in excess of $75 million . The Funding Agreement arose out of a 2012 to 2014 arbitration dispute between NCR and API, and provides for regular, ongoing funding of NCR incurred Fox River remediation costs via contributions, made to a new limited liability corporation created by the Funding Agreement, by BAT, API and, for 2014, API's indemnitor, Windward Prospects. The Funding Agreement creates an obligation on BAT and API to fund 50% of NCR’s Fox River remediation costs from October 1, 2014 forward (API’s Fox River-related obligations under the Funding Agreement were fully satisfied in 2016); the Funding Agreement also provides NCR contractual avenues for payment of, via direct and third-party sources, (1) the difference between BAT’s and API’s 60% obligation under the Cost Sharing Agreement and arbitration award 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 and arbitration award for the period from April 2012 through September 2014. For the years ended December 31, 2018 and 2017 , the receivable under the Funding Agreement was approximately $45 million and $38 million , respectively, and was included in other assets in the Consolidated Balance Sheet. The Company anticipates that it will collect sums related to the receivable in 2019 or later, likely after the remediation efforts related to the Fox River matter, described below, are complete. This receivable is not taken into account in calculating the Company’s Fox River net reserve. The Company's litigations relating to contribution and enforcement claims concerning the Fox River have largely been concluded. A proposed consent decree settlement (the CD settlement) with respect to the contribution action (a case originally filed by NCR and API) and the government enforcement action (a case originally filed by the federal and state governments against several PRPs, including the Company) was successfully negotiated by NCR and the federal and state governments and was approved on August 22, 2017 by the federal district court in Wisconsin that had been presiding over those cases. A final order of dismissal as to the Company in the contribution and government enforcement actions was subsequently entered; one party, Glatfelter, has appealed the approval of the CD settlement. On January 3, 2019, the United States lodged a proposed consent decree with the Wisconsin court, reflecting a settlement reached by the United States, Wisconsin and Glatfelter with respect to Glatfelter’s Fox River liability under the government enforcement action; a component of that settlement is withdrawal of Glatfelter’s appeal opposing the Company’s CD settlement. Glatfelter requested a stay of that appeal, and the appellate court granted the stay and suspended appellate proceedings on January 15, 2019, pending action by the Wisconsin court on the proposed consent decree. The CD settlement, if approved on appeal or if, as discussed above, the appeal is withdrawn, is expected to resolve the remaining Fox River-related contribution and enforcement claims against the Company. The key components of the approved CD settlement include (1) the Company’s commitment to complete the remediation of the Fox River, which is now expected to be completed in 2019 or 2020; (2) the Company’s conditional agreement to waive its contribution claims against the two remaining defendants in the case, GP and Glatfelter; (3) the Company’s agreement not to appeal the trial court’s decision on divisibility of harm; (4) the Governments’ agreement to include in the settlement so-called “contribution protection” in the Company’s favor as to GP’s and Glatfelter’s contribution claims against the Company, the effect of which will be to extinguish those claims; (5) the Governments’ agreement not to pursue the Company for the Governments’ past oversight costs; and (6) the Governments’ agreement to exercise prosecutorial discretion in pursuing other parties for future oversight costs and long-term monitoring and maintenance, with the Company retaining so-called “backstop” liability in the event that the other parties fail to pay future oversight costs or to perform long-term monitoring and maintenance. Additionally, although certain state law claims by GP and Glatfelter against the Company may not be affected directly by the CD settlement, the CD settlement provides that the Company’s contribution claims against those two parties will revive if those parties attempt to assert any claims against the Company relating to the Fox River, including any state law claims. In the quarter ending September 30, 2017, the remediation general contractor commenced an arbitration against the LLC, in a dispute over contract interpretation. That dispute is scheduled for a hearing in mid-2019. The amounts claimed by the contractor range from approximately $35 million to approximately $45 million ; the Company disputes the claims and is contesting them vigorously. To the extent, if any, that the contractor’s claims are successful, the Company’s indemnitors and co-obligors, described below, would be expected to bear responsibility for the majority of any award, with the Company’s share approximately one-fourth of such award. With respect to the Company’s prior dispute with API, which was generally superseded by the Funding Agreement, the Company received timely payments as they came due under the Funding Agreement. Although API filed for bankruptcy protection in October 2017, it had made all of the payments to the Company in connection with the Fox River that are required of it by the Funding Agreement. NCR's eventual remediation liability, followed by long-term monitoring expected to be performed by others, will depend on a number of factors. In establishing the reserve, NCR attempts to estimate a range of reasonably possible outcomes for each of these factors, although each range is itself uncertain. NCR uses its best estimate within the range, if that is possible. Where there is a range of equally possible outcomes, and there is no amount within that range that is considered to be a better estimate than any other amount, NCR uses the low end of the range. The significant factors include: (1) the total remaining clean-up costs (in-river remediation is expected to be completed in 2019, depending on the outcome of certain requests made by the governments concerning additional dredging, the expected cost impact of which is expected to be neutral or non-material to the Company), including long-term monitoring following completion of the clean-up, and what parties are assigned to discharge the post-clean-up tasks (as noted, the Company no longer expects to bear long-term monitoring costs); (2) total NRD for the site and the share that NCR will bear (which is now resolved as to the Company); (3) the share of clean-up costs that NCR will bear (which is resolved under the CD settlement); (4) NCR's transaction and litigation costs to defend itself in this matter (with remaining litigation expected to be limited to the Glatfelter appeal, which as noted is now expected to be dismissed, and the claim brought by the general contractor, both referenced above); and (5) the share of NCR's payments that BAT will bear (which is governed by the Cost Sharing Agreement and the Funding Agreement, BAT has made all of the payments requested of it, and as discussed above; API is in bankruptcy and is not presumed likely to bear further shares of NCR's payments). With respect to NRD, in connection with a certain settlement entered into by other PRPs in 2015, the Government withdrew the NRD claims it had prosecuted on behalf of NRD trustees, including those NRD claims asserted against the Company. Calculation of the Company's Fox River reserve is subject to several complexities, and it is possible there could be additional changes to some elements of the reserve over upcoming periods, although the Company is unable to predict or estimate such changes at this time. There can be no assurance that the clean-up and related 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, 2018 and 2017 , the gross reserve for the Fox River matter was approximately $21 million and $36 million , respectively. As of December 31, 2018 and 2017 , the net reserve for the Fox River matter was approximately $17 million and $35 million , respectively. The change in the net reserve is primarily due to ongoing payments for clean-up activities. NCR contributes to the LLC to fund remediation activities and generally, by contract, has funded certain amounts of remediation expenses in advance. As of December 31, 2018 and 2017 , approximately zero remained from this funding. NCR's reserve for the Fox River matter is reduced as the LLC makes payments to the remediation contractor and other vendors with respect to remediation activities. Under a 1996 agreement, AT&T Corp. (AT&T) and Nokia (as the successor to Lucent Technologies and Alcatel-Lucent USA) are 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. (The 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. Kalamazoo River In November 2010, 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 Georgia-Pacific (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 costs for which generally have not yet been determined; 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 are stayed pending the appeal referenced below. NCR expects to have claims against BAT and API under the Funding Agreement discussed above for the Kalamazoo River remediation expenses. API filed for bankruptcy protection in October 2017, and thus payment of its potential share under the Funding Agreement for so-called “future sites,” which would include the Kalamazoo River site, may be at risk, but as liability under the Cost Sharing Agreement and the Funding Agreement is joint and several, the bankruptcy is not anticipated to affect the Company’s ability to seek that amount from BAT. 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 agreement referenced above in the Fox River discussion. In light of the 2018 decision, the Company increased its reserve for the Kalamazoo River matter to $47 million as of December 31, 2018 as compared to $1 million as of December 31, 2017 ; that figure is reported on a basis that is net of expected contributions from the Company's co-obligors and, if and when the applicable threshold is reached, its indemnitors. 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, particularly inasmuch 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 not take place until the 2020s and 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 double the reflected reserve. 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. Environmental-Related Insurance Recoveries In connection with the Fox River and other environmental sites, through December 31, 2018 , NCR has received a combined gross total of approximately $202 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, owing to considerations under applicable Michigan law. 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 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, 2018 and 2017 , 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 2018 2017 2016 Warranty reserve liability Beginning balance as of January 1 $ 26 $ 27 $ 24 Accruals for warranties issued 42 43 42 Settlements (in cash or in kind) (42) (44) (39) Ending balance as of December 31 $ 26 $ 26 $ 27 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. Leases NCR conducts certain of its sales and manufacturing operations using leased facilities, and also operates certain equipment and vehicles under leases, the initial lease terms of which vary in length. Many of the leases contain renewal options and escalation clauses that are not material to the overall lease portfolio. Our lease obligations also include amounts owed for our world headquarters in Atlanta, Georgia. Future minimum lease payments under non-cancelable operating leases as of December 31, 2018 , for the following fiscal years are: In millions 2019 2020 2021 2022 2023 Minimum lease obligations $ 128 $ 96 $ 80 $ 64 $ 50 Total rental expense for operating leases was $148 million in 2018 , $144 million in 2017 , and $132 million in 2016 . |
Derivatives and Hedging Instrum
Derivatives and Hedging Instruments | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Instruments | 11. DERIVATIVES AND HEDGING INSTRUMENTS NCR is exposed to risks associated with changes in foreign currency exchange rates and interest rates. NCR utilizes a variety of measures to monitor and manage these risks, including the use of derivative financial instruments. NCR has exposure to approximately 50 functional currencies. Since a substantial portion of our operations and revenue occur outside the U.S., and in currencies other than the U.S. Dollar, our results can be significantly impacted, both positively and negatively, by changes in foreign currency exchange rates. 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. The amount we hedge and the duration of hedge contracts may vary significantly. In the longer term (greater than 15 months ), the subsidiaries are still subject to the effect of translating the functional currency results to U.S. 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. The related foreign exchange contracts are designated as highly effective cash flow hedges. The gains or losses on these hedges are deferred in accumulated other comprehensive income (AOCI) and reclassified to income when the underlying hedged transaction is recorded in earnings. As of December 31, 2018 , the balance in AOCI related to foreign exchange derivative transactions was a gain of $2 million . The gains or losses from derivative contracts related to inventory purchases are recorded in cost of products when the inventory is sold to an unrelated third party. 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. We do not enter into hedges for speculative purposes. 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, 2018 In millions Balance Sheet Location Notional Amount Fair Value Balance Sheet Location Notional Amount Fair Value Derivatives designated as hedging instruments Foreign exchange contracts Other current assets $169 $4 Other current liabilities $— $— Total derivatives designated as hedging instruments $4 $— Derivatives not designated as hedging instruments Foreign exchange contracts Other current assets $219 $1 Other current liabilities $157 $1 Total derivatives not designated as hedging instruments $1 $1 Total derivatives $5 $1 Fair Values of Derivative Instruments December 31, 2017 In millions Balance Sheet Location Notional Amount Fair Value Balance Sheet Location Notional Amount Fair Value Derivatives designated as hedging instruments Foreign exchange contracts Other current assets $104 $— Other current liabilities $142 $1 Total derivatives designated as hedging instruments $— $1 Derivatives not designated as hedging instruments Foreign exchange contracts Other current assets $101 $1 Other current liabilities $292 $1 Total derivatives not designated as hedging instruments $1 $1 Total derivatives $1 $2 The effects of derivative instruments on the Consolidated Statement of Operations for the years ended December 31 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 Statement of Operations Derivatives in Cash Flow Hedging Relationships For the year ended December 31, 2018 For the year ended December 31, 2017 For the year ended December 31, 2016 Location of (Gain) Loss Reclassified from AOCI into the Consolidated Statement of Operations (Effective Portion) For the year ended December 31, 2018 For the year ended December 31, 2017 For the year ended December 31, 2016 Interest rate swap $— $— $— Interest expense $— $— $2 Foreign exchange contracts $11 $(16) $19 Cost of products $(7) $(1) $(3) In millions Amount of Gain (Loss) Recognized in the Consolidated Statement of Operations Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in the Consolidated Statement of Operations For the year ended December 31, 2018 For the year ended December 31, 2017 For the year ended December 31, 2016 Foreign exchange contracts Other income (expense), net $(9) $(4) $(1) Refer to Note 12, “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, 2018 and 2017 , NCR did not have any major concentration of credit risk related to financial instruments. |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities | 12. 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, 2018 and 2017 are set forth as follows: December 31, 2018 December 31, 2017 Fair Value Measurements Using Fair Value Measurements Using In millions December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2017 Quoted Prices Significant Other Significant Assets: Deposits held in money market mutual funds (1) $8 $8 $— $— $90 $90 $— $— Foreign exchange contracts (2) 5 — 5 — 1 — 1 — Total $13 $8 $5 $— $91 $90 $1 $— Liabilities: Foreign exchange contracts (3) 1 — 1 — 2 — 2 — Total $1 $— $1 $— $2 $— $2 $— (1) Included in Cash and cash equivalents in the Consolidated Balance Sheet. (2) Included in Other current assets in the Consolidated Balance Sheet. (3) Included in Other current liabilities in the Consolidated Balance Sheet. Deposits Held in Money Market Mutual Funds A portion of the Company’s excess cash is held in money market mutual funds which 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. Assets Measured at Fair Value on a Non-recurring Basis Certain assets have been 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 non-recurring fair value adjustments were recorded during the years ended December 31, 2018 , 2017 , and 2016 . |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment Information | 13. SEGMENT INFORMATION AND CONCENTRATIONS As noted in Note 1, “Basis of Presentation and Significant Accounting Policies” , effective January 1, 2019, NCR changed the management of its business to an industry basis from the previous model of management on a solution basis, which resulted in a corresponding change to NCR's reportable segments. 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: • 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 processing hardware and software; cash management and video banking software and customer-facing digital banking services; and related installation, maintenance, and managed and professional services. • Retail - We offer solutions to customers in the retail industry designed to improve selling productivity and checkout processes as well as increase service levels. These solutions primarily include retail-oriented technologies, such as point of sale terminals and point of sale software; a retail software platform with a comprehensive suite of retail software applications; innovative self-service kiosks, such as self-checkout; as well as bar-code scanners. We also offer installation, maintenance, managed and professional services as well as payment processing solutions. • Hospitality - We offer technology solutions to customers in the hospitality industry, serving businesses that range from a single store or restaurant to global chains and sports and entertainment venues. Our solutions include point of sale hardware and software solutions, installation, maintenance, managed and professional services as well as payment processing solutions. • Other - This category includes telecommunications and technology solutions where we offer maintenance as well as managed and professional services for third-party hardware provided to select manufacturers who value and leverage our global service capability. 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 segment operating income. Assets are not allocated to segments, and thus are not included in the assessment of segment performance, and 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. To maintain operating focus on business performance, non-operational items are excluded from the segment operating results utilized by our chief operating decision maker in evaluating segment performance and are separately delineated to reconcile back to total reported income from operations. The following table presents revenue and operating income by segment for the years ended December 31 : In millions 2018 2017 2016 Revenue by segment Banking $ 3,183 $ 3,175 $ 3,370 Retail 2,097 2,169 2,070 Hospitality 817 878 800 Other 308 294 303 Consolidated revenue 6,405 6,516 6,543 Operating income by segment Banking 412 421 441 Retail 142 231 191 Hospitality 85 140 151 Other 49 48 47 Subtotal - segment operating income 688 840 830 Other adjustments (1) 497 149 156 Income from operations $ 191 $ 691 $ 674 (1) The following table presents the other adjustments for NCR for the years ended December 31 : In millions 2018 2017 2016 Transformation and restructuring costs $ 223 $ 29 $ 26 Acquisition-related amortization of intangibles 85 115 123 Acquisition-related costs 6 5 7 Goodwill and long-lived asset impairment charges 183 — — Total other adjustments $ 497 $ 149 $ 156 The following table presents revenue from products and services for NCR for the years ended December 31 : In millions 2018 2017 2016 Product revenue $ 2,341 $ 2,579 $ 2,737 Professional services and installation services revenue 1,094 1,055 1,011 Recurring revenue, including maintenance and cloud revenue 2,970 2,882 2,795 Total revenue $ 6,405 $ 6,516 $ 6,543 Revenue is attributed to the geographic area/country 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 2018 % 2017 % 2016 % Revenue by Geographic Area United States $ 3,076 48 % $ 3,224 50 % $ 3,106 47 % Americas (excluding United States) 631 10 % 585 9 % 637 10 % Europe, Middle East and Africa (EMEA) 1,751 27 % 1,786 27 % 1,896 29 % Asia Pacific (APJ) 947 15 % 921 14 % 904 14 % Consolidated revenue $ 6,405 100 % $ 6,516 100 % $ 6,543 100 % The following table presents property, plant and equipment by geographic area as of December 31 : In millions 2018 2017 Property, plant and equipment, net United States $ 247 $ 204 Americas (excluding United States) 13 19 Europe, Middle East and Africa (EMEA) 57 75 Asia Pacific (APJ) 42 43 Consolidated property, plant and equipment, net $ 359 $ 341 Concentrations No single customer accounts for more than 10% of NCR’s consolidated revenue. As of December 31, 2018 , 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. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) (AOCI) (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Statement of Financial Position [Abstract] | |
Accumulated Other Comprehensive Income (Loss) (AOCI) | 14. 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, 2015 $ (172 ) $ 23 $ (1 ) $ (150 ) Other comprehensive (loss) income before reclassifications (52 ) (1 ) 16 (37 ) Amounts reclassified from AOCI — (16 ) (2 ) (18 ) Net current period other comprehensive (loss) income (52 ) (17 ) 14 (55 ) Balance at December 31, 2016 $ (224 ) $ 6 $ 13 $ (205 ) Other comprehensive (loss) income before reclassifications 41 (13 ) (13 ) 15 Amounts reclassified from AOCI — (8 ) (1 ) (9 ) Net current period other comprehensive (loss) income 41 (21 ) (14 ) 6 Balance at December 31, 2017 $ (183 ) $ (15 ) $ (1 ) $ (199 ) Impact of adoption of new accounting standard (1) — 1 — 1 Other comprehensive (loss) income before reclassifications (51 ) 6 11 (34 ) Amounts reclassified from AOCI — (6 ) (8 ) (14 ) Net current period other comprehensive (loss) income (51 ) — 3 (48 ) Balance at December 31, 2018 $ (234 ) $ (14 ) $ 2 $ (246 ) (1) Refer to Note 1, “Basis of Presentation and Significant Accounting Policies” for further discussion of the adoption of accounting standard updates. Reclassifications Out of AOCI The reclassifications out of AOCI for the years ended December 31 are as follows: For the year ended December 31, 2018 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 — (5 ) — (5 ) Selling, general and administrative expenses — (3 ) — (3 ) Research and development expenses — (1 ) — (1 ) Total before tax $ — $ (9 ) $ (7 ) $ (16 ) Tax expense 2 Total reclassifications, net of tax $ (14 ) For the year ended December 31, 2017 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 $ — $ — $ (1 ) $ (1 ) Cost of services (1 ) (6 ) — (7 ) Selling, general and administrative expenses — (4 ) — (4 ) Research and development expenses (1 ) (1 ) — (2 ) Total before tax $ (2 ) $ (11 ) $ (1 ) $ (14 ) Tax expense 5 Total reclassifications, net of tax $ (9 ) For the year ended December 31, 2016 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 $ — $ — $ (3 ) $ (3 ) Cost of services (1 ) (10 ) — (11 ) Selling, general and administrative expenses — (6 ) — (6 ) Research and development expenses (1 ) (3 ) — (4 ) Interest expense — — 2 2 Total before tax $ (2 ) $ (19 ) $ (1 ) $ (22 ) Tax expense 4 Total reclassifications, net of tax $ (18 ) |
Restructuring Plan (Notes)
Restructuring Plan (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Activities Disclosure [Text Block] | 15. RESTRUCTURING PLAN In the second quarter of 2018, we announced a hardware transformation initiative to streamline our manufacturing operations that will help us reduce our exposure to variable hardware demand as well as increase global utilization rates and optimize our supply chain network. As a part of this initiative, we plan to reduce the number of manufacturing plants and move the manufacturing operations at those plants to other existing NCR facilities and current third party suppliers. As a result of the restructuring plan, the Company recorded a total charge of $50 million in the year ended December 31, 2018 . The Company expects that it may incur additional charges during 2019 related to this restructuring program. Such additional charges will be expensed as incurred. The restructuring program is scheduled to be completed by the end of 2019. Severance and other employee related costs The Company recorded $2 million of employee related costs in accordance with ASC 712, Employers’ Accounting for Postemployment Benefits , when the severance liability was determined to be probable and reasonably estimable. The Company also recorded $5 million of employee related costs in accordance with ASC 420, Exit or Disposal Cost Obligations . Of the severance and other employee related costs, $5 million was included in cost of products and $2 million was included in selling, general and administrative expenses in the Consolidated Statement of Operations. The Company made $2 million of severance-related payments under ASC 712 in the year ended December 31, 2018 . The Company made $3 million in severance-related payments under ASC 420 in the year ended December 31, 2018 . Inventory related charges The Company recorded $37 million in the year ended December 31, 2018 of inventory related charges for rationalizing its product portfolio and writing down inventory to be sold to third party suppliers to the lower cost or net realizable value. Inventory related charges are recorded within cost of products in the Consolidated Statement of Operations. Other exit costs The Company recorded $6 million in the year ended December 31, 2018 for costs primarily related to moving inventory and fixed assets from the plant locations that will be closed. Of these costs, $3 million were included in cost of products and selling, general and administrative expenses, respectively, in the year ended December 31, 2018 in the Consolidated Statement of Operations. The results by segment, as disclosed in Note 13, “Segment Information and Concentrations” , exclude the impact of these costs, which is consistent with the manner by which management assesses the performance and evaluates the results of each segment. The following table summarizes the costs recorded in accordance with ASC 420, Exit or Disposal Cost Obligations, and ASC 712, Employers’ Accounting for Postemployment Benefits, and the remaining liabilities as of December 31, 2018 , which are included in the Consolidated Balance Sheet in other current liabilities. In millions 2018 Employee Severance and Other Exit Costs Beginning balance as of January 1 $— Cost recognized during the period 13 Change in estimated payments — Utilization (11) Currency translation adjustments — Ending balance as of December 31 $2 |
Supplemental Financial Informat
Supplemental Financial Information | 12 Months Ended |
Dec. 31, 2018 | |
Supplemental Financial Information [Abstract] | |
Supplemental Financial Information | 16. SUPPLEMENTAL FINANCIAL INFORMATION The components of other income (expense), net are summarized as follows for the years ended December 31 : In millions 2018 2017 2016 Other income (expense), net Interest income $ 5 $ 3 $ 4 Foreign currency fluctuations and foreign exchange contracts (26 ) (26 ) (40 ) Employee benefit plans 45 (15 ) (75 ) Bank-related fees (8 ) (8 ) (8 ) Divestiture and liquidation losses — — (6 ) Total other income (expense), net $ 16 $ (46 ) $ (125 ) The components of accounts receivable are summarized as follows: In millions December 31, 2018 December 31, 2017 Accounts receivable Trade $ 1,364 $ 1,270 Other 23 37 Accounts receivable, gross 1,387 1,307 Less: allowance for doubtful accounts (31 ) (37 ) Total accounts receivable, net $ 1,356 $ 1,270 The components of inventory are summarized as follows: In millions December 31, 2018 December 31, 2017 Inventories Work in process and raw materials $ 237 $ 185 Finished goods 214 190 Service parts 355 405 Total inventories $ 806 $ 780 The components of property, plant and equipment are summarized as follows: In millions December 31, 2018 December 31, 2017 Property, plant and equipment Land and improvements $ 6 $ 7 Buildings and improvements 273 278 Machinery and other equipment 650 633 Property, plant and equipment, gross 929 918 Less: accumulated depreciation (570 ) (577 ) Total property, plant and equipment, net $ 359 $ 341 |
Condensed Consolidating Supplem
Condensed Consolidating Supplemental Guarantor Information (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Consolidating Supplemental Guarantor Information [Abstract] | |
Condensed Consolidating Supplemental Guarantor Information | 17. GUARANTOR FINANCIAL STATEMENTS The Company's 5.00% Notes, 4.625% Notes, 5.875% Notes and 6.375% Notes are guaranteed by the Company's subsidiary, NCR International, Inc. (Guarantor Subsidiary), which is 100% owned by the Company and has guaranteed fully and unconditionally the obligations to pay principal and interest for these senior unsecured notes. The guarantees are subject to release under certain circumstances as described below: • the designation of the Guarantor Subsidiary as an unrestricted subsidiary under the indenture governing the notes; • the release of the Guarantor Subsidiary from its guarantee under the Senior Secured Credit Facility; • the release or discharge of the indebtedness that required the guarantee of the notes by the Guarantor Subsidiary; • the permitted sale or other disposition of the Guarantor Subsidiary to a third party; and • the Company's exercise of its legal defeasance option of its covenant defeasance option under the indenture governing the notes. Refer to Note 6, "Debt Obligations" for additional information. In connection with the previously completed exchange offers for the 5.00% Notes, 4.625% Notes, 5.875% Notes and 6.375% Notes, the Company is required to comply with Rule 3-10 of SEC Regulation S-X (Rule 3-10), and has therefore included the accompanying Consolidating Financial Statements in accordance with Rule 3-10(f) of SEC Regulation S-X. The following supplemental information sets forth, on a consolidating basis, the statements of operations and comprehensive income (loss), the balance sheets and the statements of cash flows for the parent issuer of these senior unsecured notes, for the Guarantor Subsidiary and for the Company and all of its consolidated subsidiaries. Consolidating Statements of Operations and Comprehensive Income (Loss) For the year ended December 31, 2018 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Product revenue $ 1,091 $ 36 $ 1,440 $ (226 ) $ 2,341 Service revenue 2,117 33 1,914 — 4,064 Total revenue 3,208 69 3,354 (226 ) 6,405 Cost of products 1,000 32 1,182 (226 ) 1,988 Cost of services 1,443 13 1,286 — 2,742 Selling, general and administrative expenses 577 2 426 — 1,005 Research and development expenses 102 — 150 — 252 Asset impairment charges 210 — 17 — 227 Total operating expenses 3,332 47 3,061 (226 ) 6,214 Income (loss) from operations (124 ) 22 293 — 191 Interest expense (161 ) — (15 ) 8 (168 ) Other income (expense), net 7 6 11 (8 ) 16 Income (loss) from continuing operations before income taxes (278 ) 28 289 — 39 Income tax expense (benefit) (56 ) 72 57 — 73 Income (loss) from continuing operations before earnings in subsidiaries (222 ) (44 ) 232 — (34 ) Equity in earnings of consolidated subsidiaries 184 237 — (421 ) — Income (loss) from continuing operations (38 ) 193 232 (421 ) (34 ) Income (loss) from discontinued operations, net of tax (50 ) — (2 ) — (52 ) Net income (loss) $ (88 ) $ 193 $ 230 $ (421 ) $ (86 ) Net income (loss) attributable to noncontrolling interests — — 2 — 2 Net income (loss) attributable to NCR $ (88 ) $ 193 $ 228 $ (421 ) $ (88 ) Total comprehensive income (loss) (136 ) 118 174 (292 ) (136 ) Less comprehensive income (loss) attributable to noncontrolling interests — — — — — Comprehensive income (loss) attributable to NCR common stockholders $ (136 ) $ 118 $ 174 $ (292 ) $ (136 ) Consolidating Statements of Operations and Comprehensive Income (Loss) For the year ended December 31, 2017 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Product revenue $ 1,329 $ 91 $ 1,454 $ (295 ) $ 2,579 Service revenue 2,051 29 1,857 — 3,937 Total revenue 3,380 120 3,311 (295 ) 6,516 Cost of products 1,042 37 1,237 (295 ) 2,021 Cost of services 1,360 10 1,270 — 2,640 Selling, general and administrative expenses 490 3 430 — 923 Research and development expenses 184 — 57 — 241 Restructuring-related charges — — — — — Total operating expenses 3,076 50 2,994 (295 ) 5,825 Income (loss) from operations 304 70 317 — 691 Interest expense (159 ) — (9 ) 5 (163 ) Other income (expense), net (74 ) 1 32 (5 ) (46 ) Income (loss) from continuing operations before income taxes 71 71 340 — 482 Income tax expense (benefit) 113 107 22 — 242 Income (loss) from continuing operations before earnings in subsidiaries (42 ) (36 ) 318 — 240 Equity in earnings of consolidated subsidiaries 279 291 — (570 ) — Income (loss) from continuing operations 237 255 318 (570 ) 240 Income (loss) from discontinued operations, net of tax (5 ) — — — (5 ) Net income (loss) $ 232 $ 255 $ 318 $ (570 ) $ 235 Net income (loss) attributable to noncontrolling interests — — 3 — 3 Net income (loss) attributable to NCR $ 232 $ 255 $ 315 $ (570 ) $ 232 Total comprehensive income (loss) 238 269 317 (585 ) 239 Less comprehensive income (loss) attributable to noncontrolling interests — — 1 — 1 Comprehensive income (loss) attributable to NCR common stockholders $ 238 $ 269 $ 316 $ (585 ) $ 238 Consolidating Statements of Operations and Comprehensive Income (Loss) For the year ended December 31, 2016 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Product revenue $ 1,293 $ 111 $ 1,768 $ (435 ) $ 2,737 Service revenue 1,962 36 1,808 — 3,806 Total revenue 3,255 147 3,576 (435 ) 6,543 Cost of products 1,028 50 1,456 (435 ) 2,099 Cost of services 1,359 12 1,255 — 2,626 Selling, general and administrative expenses 526 4 374 — 904 Research and development expenses 160 — 65 — 225 Restructuring-related charges 3 — 12 — 15 Total operating expenses 3,076 66 3,162 (435 ) 5,869 Income (loss) from operations 179 81 414 — 674 Interest expense (165 ) — (10 ) 5 (170 ) Other income (expense), net (42 ) (23 ) (55 ) (5 ) (125 ) Income (loss) from continuing operations before income taxes (28 ) 58 349 — 379 Income tax expense (benefit) (20 ) 21 91 — 92 Income (loss) from continuing operations before earnings in subsidiaries (8 ) 37 258 — 287 Equity in earnings of consolidated subsidiaries 291 304 — (595 ) — Income (loss) from continuing operations 283 341 258 (595 ) 287 Income (loss) from discontinued operations, net of tax (13 ) — — — (13 ) Net income (loss) $ 270 $ 341 $ 258 $ (595 ) $ 274 Net income (loss) attributable to noncontrolling interests — — 4 — 4 Net income (loss) attributable to NCR $ 270 $ 341 $ 254 $ (595 ) $ 270 Total comprehensive income (loss) 215 277 195 (473 ) 214 Less comprehensive income (loss) attributable to noncontrolling interests — — (1 ) — (1 ) Comprehensive income (loss) attributable to NCR common stockholders $ 215 $ 277 $ 196 $ (473 ) $ 215 Consolidating Balance Sheet December 31, 2018 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ 6 $ 8 $ 450 $ — $ 464 Accounts receivable, net 37 10 1,309 — 1,356 Inventories 288 4 514 — 806 Due from affiliates 708 2,092 457 (3,257 ) — Other current assets 137 47 255 (42 ) 397 Total current assets 1,176 2,161 2,985 (3,299 ) 3,023 Property, plant and equipment, net 245 1 113 — 359 Goodwill 2,168 — 524 — 2,692 Intangibles, net 536 — 59 — 595 Prepaid pension cost — — 140 — 140 Deferred income taxes 317 — 149 (18 ) 448 Investments in subsidiaries 3,244 2,854 — (6,098 ) — Due from affiliates 16 1 35 (52 ) — Other assets 453 4 47 — 504 Total assets $ 8,155 $ 5,021 $ 4,052 $ (9,467 ) $ 7,761 Liabilities and stockholders’ equity Current liabilities Short-term borrowings $ 85 $ — $ 100 $ — $ 185 Accounts payable 397 2 498 — 897 Payroll and benefits liabilities 141 — 97 — 238 Deferred service revenue and customer deposits 221 5 235 — 461 Due to affiliates 2,177 143 937 (3,257 ) — Other current liabilities 201 6 336 (42 ) 501 Total current liabilities 3,222 156 2,203 (3,299 ) 2,282 Long-term debt 2,978 — 2 — 2,980 Pension and indemnity plan liabilities 502 — 257 — 759 Postretirement and postemployment benefits liabilities 18 3 97 — 118 Income tax accruals 19 5 67 — 91 Due to affiliates — 36 16 (52 ) — Other liabilities 162 24 91 (18 ) 259 Total liabilities 6,901 224 2,733 (3,369 ) 6,489 Redeemable noncontrolling interest — — 14 — 14 Series A convertible preferred stock 859 — — — 859 Stockholders’ equity Total NCR stockholders’ equity 395 4,797 1,301 (6,098 ) 395 Noncontrolling interests in subsidiaries — — 4 — 4 Total stockholders’ equity 395 4,797 1,305 (6,098 ) 399 Total liabilities and stockholders’ equity $ 8,155 $ 5,021 $ 4,052 $ (9,467 ) $ 7,761 Consolidating Balance Sheet December 31, 2017 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ 97 $ 11 $ 429 $ — $ 537 Accounts receivable, net 62 12 1,196 — 1,270 Inventories 311 7 462 — 780 Due from affiliates 646 1,801 283 (2,730 ) — Other current assets 78 39 162 (36 ) 243 Total current assets 1,194 1,870 2,532 (2,766 ) 2,830 Property, plant and equipment, net 207 — 134 — 341 Goodwill 2,228 — 513 — 2,741 Intangibles, net 503 — 75 — 578 Prepaid pension cost — — 118 — 118 Deferred income taxes 334 — 157 (31 ) 460 Investments in subsidiaries 3,008 2,942 — (5,950 ) — Due from affiliates 31 1 39 (71 ) — Other assets 472 63 51 — 586 Total assets $ 7,977 $ 4,876 $ 3,619 $ (8,818 ) $ 7,654 Liabilities and stockholders’ equity Current liabilities Short-term borrowings $ 52 $ — $ — $ — $ 52 Accounts payable 382 — 380 — 762 Payroll and benefits liabilities 124 — 95 — 219 Deferred service revenue and customer deposits 216 6 236 — 458 Due to affiliates 1,884 130 716 (2,730 ) — Other current liabilities 204 5 225 (36 ) 398 Total current liabilities 2,862 141 1,652 (2,766 ) 1,889 Long-term debt 2,937 — 2 — 2,939 Pension and indemnity plan liabilities 515 — 283 — 798 Postretirement and postemployment benefits liabilities 20 3 110 — 133 Income tax accruals 20 5 123 — 148 Due to affiliates — 39 32 (71 ) — Other liabilities 94 36 101 (31 ) 200 Total liabilities 6,448 224 2,303 (2,868 ) 6,107 Redeemable noncontrolling interest — — 15 — 15 Series A Convertible Preferred Stock 810 — — — 810 Stockholders’ equity Total NCR stockholders’ equity 719 4,652 1,298 (5,950 ) 719 Noncontrolling interests in subsidiaries — — 3 — 3 Total stockholders’ equity 719 4,652 1,301 (5,950 ) 722 Total liabilities and stockholders’ equity $ 7,977 $ 4,876 $ 3,619 $ (8,818 ) $ 7,654 Consolidating Statement of Cash Flows For the year ended December 31, 2018 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ 353 $ (138 ) $ 375 $ (18 ) $ 572 Investing activities Expenditures for property, plant and equipment (109 ) — (34 ) — (143 ) Additions to capitalized software (144 ) — (26 ) — (170 ) Investments in equity affiliates (14 ) — — 14 — Proceeds from (payments of) intercompany notes 228 135 — (363 ) — Acquisitions (206 ) — — — (206 ) Proceeds from the sale of PPE 1 — 2 — 3 Other investing activities, net (4 ) — — — (4 ) Net cash provided by (used in) investing activities (248 ) 135 (58 ) (349 ) (520 ) Financing activities Tax withholding payments on behalf of employees (36 ) — — — (36 ) Repurchases of Company common stock (210 ) — — — (210 ) Short term borrowings, net (1 ) — — — (1 ) Borrowings on term facility — — — — — Payments of term credit facilities (51 ) — — — (51 ) Proceeds from employee stock plans 20 — — — 20 Payments on revolving credit facilities (1,755 ) — (478 ) — (2,233 ) Borrowings on revolving credit facilities 1,875 — 578 — 2,453 Equity contribution — — 14 (14 ) — Dividends distribution to consolidated subsidiaries — — (18 ) 18 — Borrowings (repayments) of intercompany notes — — (363 ) 363 — Net cash provided by (used in) financing activities (158 ) — (267 ) 367 (58 ) Cash flows from discontinued operations Net cash used in discontinued operations operating activities (36 ) — — — (36 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash (1 ) — (24 ) — (25 ) Increase (decrease) in cash, cash equivalents and restricted cash (90 ) (3 ) 26 — (67 ) Cash, cash equivalents and restricted cash at beginning of period 97 11 435 — 543 Cash, cash equivalents and restricted cash at end of period $ 7 $ 8 $ 461 $ — $ 476 In millions December 31, 2018 Reconciliation of cash, cash equivalents and restricted cash as shown in the Consolidated Statements of Cash Flows Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ 6 $ 8 $ 450 $ — $ 464 Restricted cash included in Other assets 1 — 11 — 12 Total cash, cash equivalents and restricted cash $ 7 $ 8 $ 461 $ — $ 476 Consolidating Statement of Cash Flows For the year ended December 31, 2017 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ 459 $ (180 ) $ 483 $ (10 ) $ 752 Investing activities Expenditures for property, plant and equipment (87 ) — (41 ) — (128 ) Additions to capitalized software (133 ) — (33 ) — (166 ) Proceeds from (payments of) intercompany notes 230 180 2 (412 ) — Acquisitions (8 ) — — — (8 ) Proceeds from the sale of PPE — — 6 — 6 Proceeds from divestitures 3 — — — 3 Investments in equity affiliates 3 — — (3 ) — Other investing activities, net (1 ) — 4 — 3 Net cash provided by (used in) investing activities 7 180 (62 ) (415 ) (290 ) Financing activities Short term borrowings, net (5 ) — 1 — (4 ) Payments on term credit facilities (56 ) — (5 ) — (61 ) Payments on revolving credit facilities (1,700 ) — (240 ) — (1,940 ) Borrowings on revolving credit facilities 1,700 — 240 — 1,940 Tax withholding payments on behalf of employees (31 ) — — — (31 ) Proceeds from employee stock plans 15 — — — 15 Other financing activities (1 ) — (2 ) — (3 ) Dividend distribution to consolidated subsidiaries — — (10 ) 10 — Repurchases of Company common stock (350 ) — — — (350 ) Equity contribution — — (3 ) 3 — Borrowings (repayments) of intercompany notes — (2 ) (410 ) 412 — Net cash provided by (used in) financing activities (428 ) (2 ) (429 ) 425 (434 ) Cash flows from discontinued operations Net cash used in discontinued operations operating activities (8 ) — — — (8 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — 1 15 — 16 Increase (decrease) in cash, cash equivalents and restricted cash 30 (1 ) 7 — 36 Cash, cash equivalents and restricted cash at beginning of period 67 12 428 — 507 Cash, cash equivalents and restricted cash at end of period $ 97 $ 11 $ 435 $ — $ 543 In millions December 31, 2017 Reconciliation of cash, cash equivalents and restricted cash as shown in the Consolidated Statements of Cash Flows Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ 97 $ 11 $ 429 $ — $ 537 Restricted cash included in Other assets — — 6 — 6 Total cash, cash equivalents and restricted cash $ 97 $ 11 $ 435 $ — $ 543 Consolidating Statement of Cash Flows For the year ended December 31, 2016 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities 336 (160 ) 723 (3 ) 896 Investing activities Expenditures for property, plant and equipment (33 ) — (40 ) — (73 ) Additions to capitalized software (114 ) — (40 ) — (154 ) Proceeds from (payments of) intercompany notes 365 115 — (480 ) — Proceeds from divestitures 22 — 25 — 47 Investments in equity affiliates (9 ) 50 — (41 ) — Other investing activities, net (9 ) — — — (9 ) Net cash provided by (used in) investing activities 222 165 (55 ) (521 ) (189 ) Financing activities Short term borrowings, net (4 ) — (4 ) — (8 ) Payments on revolving credit facilities (89 ) — (8 ) — (97 ) Payments on revolving credit facilities (1,151 ) — (280 ) — (1,431 ) Borrowings on revolving credit facilities 1,051 — 280 — 1,331 Tax withholding payments on behalf of employees (16 ) — — — (16 ) Proceeds from employee stock plans 15 — — — 15 Debt issuance costs (9 ) — — — (9 ) Dividend distribution to consolidated subsidiaries — — (53 ) 53 — Other financing activities — — (2 ) — (2 ) Equity contribution — — 9 (9 ) — Borrowings (repayments) of intercompany notes (16 ) — (464 ) 480 — Tender offer share repurchase (250 ) — — — (250 ) Net cash provided by (used in) financing activities (469 ) — (522 ) 524 (467 ) Cash flows from discontinued operations Net cash used in discontinued operations operating activities (39 ) — — — (39 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — (13 ) (16 ) — (29 ) Increase (decrease) in cash, cash equivalents and restricted cash 50 (8 ) 130 — 172 Cash, cash equivalents and restricted cash at beginning of period 17 20 298 — 335 Cash, cash equivalents and restricted cash at end of period $ 67 $ 12 $ 428 $ — $ 507 In millions December 31, 2016 Reconciliation of cash, cash equivalents and restricted cash as shown in the Consolidated Statements of Cash Flows Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ 67 $ 12 $ 419 $ — $ 498 Restricted cash included in Other assets — — 9 — 9 Total cash, cash equivalents and restricted cash $ 67 $ 12 $ 428 $ — $ 507 |
Quarterly Information (unaudite
Quarterly Information (unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Information | 18. QUARTERLY INFORMATION (UNAUDITED) In millions, except per share amounts First Second Third Fourth 2018 Total revenue $ 1,517 $ 1,537 $ 1,550 $ 1,801 Gross margin 420 403 410 442 Income from operations 109 (106 ) 125 63 Income from continuing operations (attributable to NCR) 55 (143 ) 85 (33 ) Income (loss) from discontinued operations, net of tax (35 ) (2 ) (1 ) (14 ) Net (loss) income attributable to NCR common stockholders 8 (157 ) 72 (60 ) Income (loss) per share attributable to NCR common stockholders: Income (loss) per common share from continuing operations Basic $ 0.36 $ (1.31 ) $ 0.62 $ (0.39 ) Diluted $ 0.35 $ (1.31 ) $ 0.57 $ (0.39 ) Net (loss) income per common share: Basic $ 0.07 $ (1.33 ) $ 0.61 $ (0.51 ) Diluted $ 0.06 $ (1.33 ) $ 0.56 $ (0.51 ) 2017 Total revenue $ 1,478 $ 1,593 $ 1,663 $ 1,782 Gross margin 412 461 472 510 Income from operations 115 175 199 202 Income from continuing operations (attributable to NCR) 57 97 118 (35 ) (Loss) from discontinued operations, net of tax — 5 — (10 ) Net income attributable to NCR common stockholders (17 ) 90 106 (56 ) Income per share attributable to NCR common stockholders: Income per common share from continuing operations Basic $ (0.14 ) $ 0.70 $ 0.87 $ (0.38 ) Diluted $ (0.14 ) $ 0.64 $ 0.77 $ (0.38 ) Net income per common share: Basic $ (0.14 ) $ 0.74 $ 0.87 $ (0.46 ) Diluted $ (0.14 ) $ 0.67 $ 0.77 $ (0.46 ) Operating income for the quarter ended December 31, 2018 was impacted by actuarial gains related to the remeasurement of our pension plan assets and liabilities. The actuarial gains included in pension expense recognized in the quarter ended December 31, 2018 increased net income attributable to NCR by $44 million , basic earnings per share from continuing operations by $0.37 , and diluted earnings per share from continuing operations by $0.37 . Operating income for the quarter ended December 31, 2017 was impacted by actuarial losses related to the remeasurement of our pension plan assets and liabilities. The actuarial losses included in pension expense recognized in the quarter ended December 31, 2017 decreased net income attributable to NCR by $25 million , basic earnings per share from continuing operations by $0.21 , and diluted earnings per share from continuing operations by $0.21 . Net income per share in each quarter is computed using the weighted-average number of shares outstanding during that quarter while net income per share for the full year is computed using the weighted-average number of shares outstanding during the year. Thus, the sum of the four quarters’ net income per share will not necessarily equal the full-year net income per share. |
Description of Business and S_2
Description of Business and Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Description of Business and Significant Accounting Policies [Abstract] | |
Use of Estimates [Policy Text Block] | Use of Estimates The preparation of financial statements in accordance with generally accepted accounting principles in the United States (U.S. 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. Actual results could differ from those estimates. |
Basis of Consolidation [Policy Text Block] | Basis of Consolidation |
Revenue Recognition [Policy Text Block] | 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. 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. Our product revenue includes hardware and software which is generally recognized at a point in time, once all conditions for revenue recognition have been met. 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 risk of loss of the goods sold. For software products, control is generally transferred when the customer takes possession of, or has complete access to, the software. 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. As of December 31, 2018 and 2017 , the revenue recognized from bill and hold transactions approximated 1% of total revenue. Our services revenue includes software as a service (SaaS), professional consulting, installation and maintenance support. SaaS primarily consists of fees to provide our customers access to our platform and cloud-based applications. 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. Professional consulting primarily consists of software implementation, integration, customization and optimization services. Revenue from professional consulting contracts that involve significant production, modification or customization of the software is recognized over time as the services are performed. Revenue from professional consulting contracts that does not involve significant production, modification or customization of the software 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. 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. NCR frequently enters contracts that include multiple performance obligations, including hardware, software, professional consulting services, installation services and maintenance support services. For these arrangements, the Company allocates the transaction price, at contract inception, to each 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. If a contract includes software and services that involve significant production, modification or customization of the software, the services are not distinct from the software. For these contracts, both the software and professional services revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Estimated losses, if any, are recognized as soon as such losses become known. 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. 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. 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. The Company also does not adjust the transaction price for taxes collected from customers, as those amounts are netted against amounts remitted to government authorities. 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 contracts that are not separately priced but include product maintenance, the Company defers revenue at an amount based on the selling price, using objective and reliable evidence, and recognizes the deferred revenue over the service term. For separately priced product maintenance contracts, NCR defers the stated amount of the separately priced contract and recognizes the deferred revenue ratably over the service term. Remaining Performance Obligations Remaining performance obligations represent the transaction price of orders for which products have not been delivered or services have not been performed. As of December 31, 2018 , the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $3.2 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 two elections which affect the value of remaining performance obligations described above. We do not disclose remaining performance obligations for SaaS contracts where variable consideration is directly allocated based on usage or when the original expected length is one year or less. |
Warranty and Sales Returns [Policy Text Block] | 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 [Policy Text Block] | 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 [Policy Text Block] | Advertising Advertising costs are recognized in selling, general and administrative expenses when incurred. |
Stock Compensation [Policy Text Block] | Stock 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. See Note 7, "Stock Compensation Plans" for further information on NCR’s stock-based compensation plans. |
Income Taxes [Policy Text Block] | 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. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act of 2017 (“U.S. Tax Reform”) that instituted fundamental changes to the taxation of multinational corporations. See Note 7, "Income Taxes" for additional information on the Company's assessment and related impacts. |
Earnings Per Share | Basic earnings per share (EPS) is calculated by dividing net income, less any 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 reported period. In computing diluted EPS, 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 and unvested restricted stock units do not have nonforfeitable rights to common stock dividends or common stock dividend equivalents. Accordingly, the Series A Convertible Preferred Stock and unvested restricted stock units do not qualify as participating securities. See Note 8, "Stock Compensation Plans" for share information on NCR’s stock compensation plans. |
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash Equivalents All short-term, highly liquid investments having original maturities of three months or less, including time deposits, are considered to be cash equivalents. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Accounts Receivable, net Accounts receivable, net includes amounts billed and currently due from customers as well as amounts unbilled which 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. NCR establishes provisions for doubtful accounts using percentages of accounts receivable balances to reflect historical average credit losses and specific provisions for known issues, such as risks of default. Allowance for Doubtful Accounts NCR establishes provisions for doubtful accounts using percentages of accounts receivable balances to reflect historical average credit losses and specific provisions for known issues. |
Inventories [Policy Text Block] | 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. |
Capitalized Software [Policy Text Block] | 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. |
Software to be Sold, Leased, or Otherwise Marketed, Policy [Policy Text Block] | 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. |
Goodwill and Other Intangible Assets [Policy Text Block] | 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. During the second quarter of 2018, under our previous reporting segment structure, we determined there was an indication that the carrying value of the net assets assigned to the Hardware reporting unit may not be recoverable and completed an impairment assessment of goodwill. As a result of the assessment, we recorded an impairment charge for the full value of the goodwill assigned to the Hardware reporting unit. Refer to Note 4, "Goodwill and Purchased Intangible Assets" for further discussion. Additionally, in connection with the change in reportable segments, effective January 1, 2019, the Company determined its reporting units and then assigned goodwill to the new reporting units based on the relative fair value allocation approach. Based on this analysis, it was determined that the fair value of all reporting units were substantially in excess of the carrying value. 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, operating income margin and discount rate. 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. During the fourth quarter of each year presented, we performed our annual impairment assessment of goodwill which did not indicate that an impairment existed. Refer to Note 4, "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. |
Property, Plant and Equipment [Policy Text Block] | 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 $81 million , $86 million , and $90 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. |
Valuation of Long-Lived Assets [Policy Text Block] | 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 4, "Goodwill and Purchased Intangible Assets" for further discussion. |
Pension, Postretirement and Postemployment Benefits [Policy Text Block] | 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, total and 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 |
Environmental and Legal Contingencies [Policy Text Block] | 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, 2018 cannot currently be reasonably determined or are not currently considered probable. |
Lessee, Leases [Policy Text Block] | Leases The Company accounts for material escalation clauses, free or reduced rents and landlord incentives contained in operating type leases on a straight-line basis over the lease term, including any reasonably assured lease renewals. For leasehold improvements that are funded by the landlord, the Company records the incentive as deferred rent. The deferred rent is then amortized as reductions to lease expense over the lease term. For capital leases where NCR is the lessee, we record an amortizable debt and a related fixed asset in the Consolidated Balance Sheet. |
Foreign Currency [Policy Text Block] | 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. Where the U.S. Dollar is the functional currency, remeasurement adjustments are recorded in other (expense), net. |
Derivative Instruments [Policy Text Block] | 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 other comprehensive income 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 (expense), net as exchange rates change. |
Fair Value of Assets and Liabilities [Policy Text Block] | 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 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). |
New Accounting Pronouncements, Policy [Policy Text Block] | Adopted In May 2014, the FASB issued a new revenue recognition standard that superseded existing revenue recognition guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard was effective for the first interim period within annual periods beginning after December 15, 2017, with early adoption permitted for annual periods beginning after December 15, 2016, and can be adopted either retrospectively to each prior reporting period presented (“full retrospective method”) or as a cumulative effect adjustment as of the date of adoption (“modified retrospective method”). Effective January 1, 2018, we adopted the standard using the modified retrospective method applied to contracts that were not complete as of the date of adoption and recorded a cumulative adjustment to increase retained earnings by $2 million . Adoption of the new standard resulted in changes to our accounting policies for revenue recognition and deferred commissions. Refer to Note 2, "Revenue Recognized Under Previous Guidance" , for presentation of what revenue would have been in the current periods had the Company continued to recognize revenue under the previous accounting guidance. In August 2016, the FASB issued an accounting standards update which provides guidance regarding the classification of certain cash receipts and cash payments on the statement of cash flows, where specific guidance is provided for issues not previously addressed. This guidance is effective for annual reporting periods, including interim reporting within those periods, beginning after December 15, 2017, with early adoption permitted, and is required to be adopted using a retrospective approach. The adoption of this accounting standards update did not have a material effect on the Company's statement of cash flows. In October 2016, the FASB issued an accounting standards update which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. This standard is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted. Effective January 1, 2018, we adopted the standard using the modified retrospective method and recorded a cumulative adjustment to increase retained earnings by $13 million . In November 2016, the FASB issued an accounting standards update which clarifies how entities should present restricted cash and restricted cash equivalents in the statement of cash flows. The guidance requires entities to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows. The accounting standards update is required to be adopted for annual periods beginning after December 15, 2017, including interim periods within that annual period. The amendment is to be applied retrospectively with early adoption permitted. The adoption of this accounting standards update did not have a material effect on the Company's statement of cash flows. In January 2017, the FASB issued an accounting standards update which clarifies the definition of a business which is used across several areas of accounting. The area expected to see the most change is the evaluation of whether a transaction should be accounted for as an acquisition (or disposal) of assets, or as a business combination. The new guidance clarifies that to be a business there must also be at least one substantive process, and narrows the definition of outputs by more closely aligning it with how outputs are described in the new revenue recognition standard. The accounting standards update is required to be adopted for annual periods beginning after December 15, 2017, including interim periods within that annual period. The amendment is to be applied prospectively with early adoption permitted. The adoption of this standard did not have a material effect on our financial condition, results of operations or disclosures, as the standard applies only to businesses acquired after the adoption date. In January 2017, the FASB issued an accounting standards update with new guidance intended to simplify the subsequent measurement of goodwill. The standards update eliminates the requirement for an entity to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, an entity will perform its annual, or interim, goodwill impairment testing by comparing the fair value of a reporting unit with its carrying amount and recording an impairment charge for the amount by which the carrying amount exceeds the fair value. The standards update is effective prospectively for annual and interim goodwill impairment testing performed in fiscal years beginning after December 15, 2019, which we early adopted as of January 1, 2018. Refer to Note 4, "Goodwill and Purchased Intangible Assets" for further discussion. In March 2017, the FASB issued an accounting standards update with new guidance on an employer's presentation of defined benefit retirement costs in the income statement. Employers will present the service cost component of net periodic benefit cost in the same income statement line item(s) as other employee compensation costs arising from services rendered during the period. Only the service cost component will be eligible for capitalization in assets. Employers will present the other components of the net periodic benefit cost separately from the line item(s) that includes the service cost and outside of any subtotal of operating income, if one is presented. These components will not be eligible for capitalization in assets. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods therein, 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 or financial condition. In May 2017, the FASB issued an accounting standards update which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. This update requires modification only if the fair value, vesting conditions or the classification of the award changes as a result of the change in terms or conditions. This guidance is effective for fiscal years beginning after December 15, 2017, and interim periods therein, 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 or financial condition. In August 2017, the FASB issued an accounting standards update which simplifies certain aspects of hedge accounting and improves disclosures of hedging arrangements through the elimination of the requirement to separately measure and report hedge ineffectiveness. This update generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item in order to align financial reporting of hedge relationships with economic results. Entities must apply the amendments to cash flow and net investment hedge relationships that exist on the date of adoption using a modified retrospective approach. The presentation and disclosure requirements must be applied prospectively. This guidance is effective for fiscal years beginning after December 15, 2018, and interim periods therein, 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 or financial condition. In February 2018, the FASB issued an accounting standards update which permits entities to reclassify tax effects stranded in accumulated other comprehensive income as a result of the enactment of the Tax Cuts and Jobs Act (U.S. Tax Reform) to retained earnings. Entities can elect to apply the guidance retrospectively or in the period of adoption. This guidance is effective for fiscal years beginning after December 15, 2018, and interim periods therein, 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 or financial condition. In March 2018, the FASB issued an accounting standards update which allowed SEC registrants to record provisional amounts in earnings for the year ended December 31, 2017 due to the complexities involved in accounting for the enactment of U.S. Tax Reform. The standard was effective upon issuance. The Company recognized the estimated income tax effects of U.S. Tax Reform in its 2017 Consolidated Financial Statements in accordance with SEC Staff Accounting Bulletin No. 118 (SAB No. 118). Refer to Note 7, "Income Taxes" , for further information regarding the assessment of the impact of U.S. Tax Reform in the years ended December 31, 2018 and 2017 . In August 2018, the FASB issued an accounting standards update which require additional disclosures related to the weighted-average interest crediting rates for cash balance plans and an explanation for the reasons for significant gains and losses related to changes in the benefit obligation for the period. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a retrospective basis 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 or financial condition. |
Description of Business and S_3
Description of Business and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Description of Business and Significant Accounting Policies [Abstract] | |
Contract with Customer, Asset and Liability [Table Text Block] | The following table presents the net contract asset and contract liability balances as of December 31, 2018 and January 1, 2018: In millions Location in the Consolidated Balance Sheet December 31, 2018 January 1, 2018 Current portion of contract assets Other current assets $ 22 $ 28 Current portion of contract liabilities Contract liabilities $ 461 $ 458 Non-current portion of contract liabilities Other liabilities $ 85 $ 95 During the twelve months ended December 31, 2018 , the Company recognized $355 million in revenue that was included in contract liabilities as of January 1, 2018. |
Schedule of Capitalized Computer Software [Table Text Block] | The following table identifies the activity relating to total capitalized software: In millions 2018 2017 2016 Beginning balance as of January 1 $ 366 $ 345 $ 311 Capitalization 170 166 154 Amortization (160 ) (145 ) (118 ) Impairment (51 ) — (2 ) Ending balance as of December 31 $ 325 $ 366 $ 345 During the year ended December 31, 2018 , we recorded the write-off of certain internal and external use software capitalization projects that are no longer considered strategic based on review by the new management team and as a result, the projects have been abandoned. |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The components of basic earnings (loss) per share are as follows: In millions, except per share amounts Year ended December 31 2018 2017 2016 Income (loss) from continuing operations $ (36 ) $ 237 $ 283 Series A convertible preferred stock dividends (49 ) (47 ) (49 ) Deemed dividend on modification of Series A Convertible Preferred Stock — (4 ) — Deemed dividend on Series A Convertible Preferred Stock redemption — (58 ) — Net income (loss) from continuing operations attributable to NCR common stockholders (85 ) 128 234 Loss from discontinued operations, net of tax (52 ) (5 ) (13 ) Net income (loss) attributable to NCR common stockholders $ (137 ) $ 123 $ 221 Denominator Basic weighted average number of shares outstanding 118.4 121.9 125.6 Basic earnings (loss) per share: From continuing operations $ (0.72 ) $ 1.05 $ 1.86 From discontinued operations (0.44 ) (0.04 ) (0.10 ) Total basic earnings (loss) per share $ (1.16 ) $ 1.01 $ 1.76 The components of diluted earnings (loss) per share are as follows: In millions, except per share amounts Year ended December 31 2018 2017 2016 Income (loss) from continuing operations $ (36 ) $ 237 $ 283 Series A convertible preferred stock dividends (49 ) (47 ) — Deemed dividend on modification of Series A Convertible Preferred Stock — (4 ) — Deemed dividend on Series A Convertible Preferred Stock redemption — (58 ) — Net income (loss) from continuing operations attributable to NCR common stockholders (85 ) 128 283 Loss from discontinued operations, net of tax (52 ) (5 ) (13 ) Series A convertible preferred stock dividends — — (49 ) Net income (loss) attributable to NCR common stockholders $ (137 ) $ 123 $ 221 Basic weighted average number of shares outstanding 118.4 121.9 125.6 Dilutive effect of as-if Series A Convertible Preferred Stock — — 28.2 Dilutive effect of employee stock options and restricted stock units — 5.1 3.6 Denominator - from continuing operations 118.4 127.0 157.4 Basic weighted average number of shares outstanding 118.4 121.9 125.6 Dilutive effect of employee stock options and restricted stock units — 5.1 3.6 Denominator - total 118.4 127.0 129.2 Diluted earnings (loss) per share: From continuing operations $ (0.72 ) $ 1.01 $ 1.80 From discontinued operations (0.44 ) (0.04 ) (0.10 ) Total diluted earnings (loss) per share $ (1.16 ) $ 0.97 $ 1.71 For 2018 , diluted earnings (loss) per share from continuing operations and total diluted earnings (loss) per share, it is more dilutive to assume the Series A Convertible Preferred Stock is not converted to common stock and therefore weighted average outstanding shares of common stock are not adjusted by the as-if converted Series A Convertible Preferred Stock shown above because the effect would be anti-dilutive. If the as-if converted Series A Convertible Preferred Stock had been dilutive, approximately 28.3 million additional shares would have been included in the diluted weighted average number of shares outstanding for the year ended December 31, 2018 . For 2018 , there were 6.5 million weighted anti-dilutive restricted stock units outstanding. For 2017 , diluted earnings (loss) per share from continuing operations and total diluted earnings (loss) per share, it is more dilutive to assume the Series A Convertible Preferred Stock is not converted to common stock and therefore weighted average outstanding shares of common stock are not adjusted by the as-if converted Series A Convertible Preferred Stock shown above because the effect would be anti-dilutive. If the as-if converted Series A Convertible Preferred Stock had been dilutive, approximately 27.4 million additional shares, considering the existing and redeemed shares, would have been included in the diluted weighted average number of shares outstanding for the year ended December 31, 2017 . For 2017 , there were 0.8 million weighted anti-dilutive restricted stock units outstanding. For 2016 , diluted earnings (loss) per share from continuing operations, it is more dilutive to assume the Series A Convertible Preferred Stock is converted to common stock and therefore weighted average outstanding shares of common stock are adjusted by the as-if converted Series A Convertible Preferred Stock. For 2016 , total diluted earnings (loss) per share, it is more dilutive to assume the Series A Convertible Preferred Stock is not converted to common stock and therefore weighted average outstanding shares of common stock are not adjusted by the as-if converted Series A Convertible Preferred Stock shown above because the effect would be anti-dilutive. Therefore, total diluted earnings (loss) per share less diluted earnings (loss) per share from continuing operations does not equal diluted earnings (loss) per share from discontinued operations. For 2016 , there were 0.4 million weighted anti-dilutive restricted stock units outstanding. |
Revenue Recognized Under Prev_2
Revenue Recognized Under Previous Guidance (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue Recognized Under Previous Guidance [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | For the year ended December 31, 2018 In millions, except per share amounts Under Current Guidance Adjustments Under Previous Guidance Consolidated Statement of Operations Product revenue $ 2,341 $ (32 ) $ 2,309 Cost of products 1,988 (16 ) 1,972 Selling, general and administrative expenses 1,005 1 1,006 Total operating expenses 6,214 (15 ) 6,199 Income (loss) from operations 191 (17 ) 174 Loss from continuing operations before income taxes 39 (17 ) 22 Income tax benefit 73 (4 ) 69 Loss from continuing operations (34 ) (13 ) (47 ) Net loss (86 ) (13 ) (99 ) Net loss attributable to NCR $ (88 ) $ (13 ) $ (101 ) Loss per common share from continuing operations Basic $ (0.72 ) $ (0.11 ) $ (0.83 ) Diluted $ (0.72 ) $ (0.11 ) $ (0.83 ) Net loss per common share Basic $ (1.16 ) $ (0.11 ) $ (1.27 ) Diluted $ (1.16 ) $ (0.11 ) $ (1.27 ) As of December 31, 2018 In millions Under Current Guidance Adjustments Under Previous Guidance Consolidated Balance Sheet Assets Accounts receivable, net $ 1,356 $ 22 $ 1,378 Other current assets 397 (9 ) 388 Total current assets 3,023 13 3,036 Deferred income taxes 448 5 453 Other assets 504 (14 ) 490 Total Assets $ 7,761 $ 4 $ 7,765 Liabilities Contract liabilities $ 461 $ 18 $ 479 Other current liabilities 501 3 504 Total current liabilities 2,282 21 2,303 Total liabilities 6,489 21 6,510 Retained earnings 606 (17 ) 589 Total NCR stockholders’ equity 395 (17 ) 378 Total stockholders’ equity 399 (17 ) 382 Total liabilities and stockholders’ equity $ 7,761 $ 4 $ 7,765 |
Business Combinations and Div_2
Business Combinations and Divestitures Business Combinations and Divestitures (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The allocation of the purchase price for JetPay is as follows: In millions Fair Value Cash acquired $ 4 Tangible assets acquired 76 Acquired intangible assets other than goodwill 109 Acquired goodwill 96 Deferred tax liabilities (16 ) Liabilities assumed (76 ) Total purchase consideration $ 193 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The following table sets forth the components of the intangible assets acquired as of the acquisition date: Estimated Fair Value Weighted Average Amortization Period (1) (In millions) (In years) Direct customer relationships $ 69 14 Technology - Software 39 9 Tradenames 1 1 Total acquired intangible assets $ 109 (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. |
Business Acquisition, Pro Forma Information [Table Text Block] | The unaudited pro forma consolidated results of operations, assuming the acquisition had occurred on January 1, 2017, are as follows: In millions 2018 2017 Revenue $ 6,468 $ 6,592 Net income attributable to NCR $ (46 ) $ 217 |
Goodwill and Purchased Intang_2
Goodwill and Purchased Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The carrying amounts of goodwill by segment are included in the tables below. Foreign currency fluctuations are included within other adjustments . January 1, 2018 December 31, 2018 In millions Goodwill Accumulated Impairment Losses Total Additions Impairment Other Goodwill Accumulated Impairment Losses Total Banking $ 1,721 $ (14 ) $ 1,707 $ — $ (87 ) $ (3 ) $ 1,718 $ (101 ) $ 1,617 Retail 478 (5 ) 473 94 (29 ) (1 ) 571 (34 ) 537 Hospitality 377 (3 ) 374 13 (20 ) (5 ) 385 (23 ) 362 Other 188 (1 ) 187 — (10 ) (1 ) 187 (11 ) 176 Total goodwill $ 2,764 $ (23 ) $ 2,741 $ 107 $ (146 ) $ (10 ) $ 2,861 $ (169 ) $ 2,692 January 1, 2017 December 31, 2017 In millions Goodwill Accumulated Impairment Losses Total Additions Impairment Other Goodwill Accumulated Impairment Losses Total Banking $ 1,715 $ (14 ) $ 1,701 $ — $ — $ 6 $ 1,721 $ (14 ) $ 1,707 Retail 476 (5 ) 471 — — 2 478 (5 ) 473 Hospitality 372 (3 ) 369 — — 5 377 (3 ) 374 Other 187 (1 ) 186 — — 1 188 (1 ) 187 Total goodwill $ 2,750 $ (23 ) $ 2,727 $ — $ — $ 14 $ 2,764 $ (23 ) $ 2,741 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | NCR’s purchased intangible assets were specifically identified when acquired, and are deemed to have finite lives. These assets are reported in intangibles, net in the Consolidated Balance Sheets. 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, 2018 December 31, 2017 In millions Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Identifiable intangible assets Reseller & customer relationships 1 - 20 $ 726 $ (218 ) $ 659 $ (170 ) Intellectual property 2 - 8 443 (373 ) 410 (351 ) Customer contracts 8 89 (87 ) 89 (81 ) Tradenames 2 - 10 75 (60 ) 73 (51 ) Total identifiable intangible assets $ 1,333 $ (738 ) $ 1,231 $ (653 ) |
Schedule of Expected Amortization Expense | The aggregate amortization expense (actual and estimated) for identifiable intangible assets for the following periods is: For the year ended December 31, 2018 For the years ended December 31 (estimated) In millions 2019 2020 2021 2022 2023 Amortization expense $ 85 $ 88 $ 69 $ 60 $ 55 $ 53 |
Debt Obligations Debt Obligatio
Debt Obligations Debt Obligations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Debt Obligations [Table Text Block] | The following table summarizes the Company's short-term borrowings and long-term debt: December 31, 2018 December 31, 2017 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) $ 84 4.51% $ 51 3.21% Trade Receivables Securitization Facility 100 3.37% — Other (2) 1 4.92% 1 3.71% Total short-term borrowings $ 185 $ 52 Long-Term Debt Senior Secured Credit Facility: Term loan facility (1) $ 675 4.51% $ 759 3.21% Revolving credit facility (1) 120 4.49% — Senior Notes: 5.00% Senior Notes due 2022 600 600 4.625% Senior Notes due 2021 500 500 5.875% Senior Notes due 2021 400 400 6.375% Senior Notes due 2023 700 700 Deferred financing fees (18 ) (23 ) Other (2) 3 0.59% 3 1.62% Total long-term debt $ 2,980 $ 2,939 (1) Interest rates are weighted average interest rates as of December 31, 2018 and 2017 . (2) Interest rates are weighted average interest rates as of December 31, 2018 and 2017 primarily related to various international credit facilities and a note payable in the U.S. |
Schedule of Maturities of Long-term Debt [Table Text Block] | Debt Maturities Maturities of debt outstanding, in principal amounts, at December 31, 2018 are summarized below: For the years ended December 31 In millions Total 2019 2020 2021 2022 2023 Thereafter Debt maturities $ 3,183 $ 85 $ 190 $ 1,605 $ 600 $ 700 $ 3 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | For the years ended December 31 , income (loss) from continuing operations before income taxes consisted of the following: In millions 2018 2017 2016 Income (loss) before income taxes United States $ (262 ) $ 149 $ 35 Foreign 301 333 344 Total income (loss) from continuing operations before income taxes $ 39 $ 482 $ 379 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the years ended December 31 , income tax expense (benefit) consisted of the following: In millions 2018 2017 2016 Income tax expense (benefit) Current Federal $ 18 $ 14 $ 18 State — 2 4 Foreign 42 54 60 Deferred Federal (2 ) 178 12 State 1 (3 ) 1 Foreign 14 (3 ) (3 ) Total income tax expense (benefit) $ 73 $ 242 $ 92 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 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 2018 2017 2016 Income tax (benefit) expense at the U.S. federal tax rate of 21% for 2018 and 35% for 2017 and 2016, respectively $ 8 $ 169 $ 133 Foreign income tax differential 22 (38 ) (26 ) State and local income taxes (net of federal effect) 2 (1 ) 3 Other U.S. permanent book/tax differences — 1 1 Meals and entertainment expense 2 2 1 Cash surrender value received as income — — (1 ) Executive compensation 4 1 1 Employee share-based payments 3 (3 ) 3 Change in branch tax status (9 ) — — Goodwill impairment 30 — — Research and development tax credits (6 ) (4 ) (4 ) U.S. manufacturing deduction — (9 ) (7 ) U.S. valuation allowance (1) 16 — — U.S tax reform 37 130 — Change in liability for unrecognized tax benefits (1) (23 ) (2 ) (12 ) Prior period adjustments (11 ) — — Other, net (2 ) (4 ) — Total income tax expense (benefit) $ 73 $ 242 $ 92 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred income tax assets and liabilities included in the Consolidated Balance Sheets as of December 31 were as follows: In millions 2018 2017 Deferred income tax assets Employee pensions and other benefits $ 223 $ 230 Other balance sheet reserves and allowances 141 185 Tax loss and credit carryforwards 682 525 Capitalized research and development 53 50 Property, plant and equipment 11 6 Other 38 27 Total deferred income tax assets 1,148 1,023 Valuation allowance (485 ) (415 ) Net deferred income tax assets 663 608 Deferred income tax liabilities Intangibles 151 129 Capitalized software 78 27 Other 7 16 Total deferred income tax liabilities 236 172 Total net deferred income tax assets $ 427 $ 436 |
Summary of Income Tax Contingencies [Table Text Block] | The aggregate changes in the balance of our gross unrecognized tax benefits were as follows for the years ended December 31: In millions 2018 2017 2016 Gross unrecognized tax benefits - January 1 $ 196 $ 183 $ 209 Increases related to tax positions from prior years 9 3 3 Decreases related to tax positions from prior years (50 ) (1 ) (34 ) Increases related to tax provisions taken during the current year 9 23 23 Settlements with tax authorities (45 ) (4 ) (6 ) Lapses of statutes of limitation (9 ) (8 ) (12 ) Total gross unrecognized tax benefits - December 31 $ 110 $ 196 $ 183 |
Employee Stock Compensation P_2
Employee Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | As of December 31, 2018 , 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 2018 2017 2016 Restricted stock units $ 65 $ 73 $ 61 Employee stock purchase plan 4 4 — Stock options 4 — — Stock-based compensation expense 73 77 61 Tax benefit (10) (22) (18 ) Total stock-based compensation (net of tax) $ 63 $ 55 $ 43 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | The following table reports restricted stock unit activity during the year ended December 31, 2018 : Shares in thousands Number of Units Weighted Average Grant-Date Fair Value per Unit Unvested shares as of January 1 7,158 $ 29.78 Shares granted 3,440 $ 26.25 Shares vested (2,980 ) $ 27.45 Shares forfeited (1,652 ) $ 30.58 Unvested shares as of December 31 5,966 $ 28.69 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 $90 million in 2018 , $87 million in 2017 , and $42 million in 2016 . As of December 31, 2018 , there was $79 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 1.1 years. The weighted average grant date fair value for restricted stock unit awards granted in 2017 and 2016 was $46.95 and $20.45 , respectively. The following table represents the composition of restricted stock unit grants in 2018 : Shares in thousands Number of Units Weighted Average Grant-Date Fair Value Service-based units 2,168 $ 31.12 Performance-based units 1,272 $ 17.97 Total restricted stock units 3,440 $ 26.25 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | During the year ended December 31, 2018 , the Company granted stock options and the weighted average fair value of option grants was estimated based on the below weighted average assumptions, which was $9.80 . The stock options were granted with a seven year contractual term that will vest over four years. For the years ended December 31, 2017 and 2016 , the Company did not grant a significant amount of stock options. For the year ended December 31, 2018 Dividend yield — Risk-free interest rate 2.50 % Expected volatility 34.88 % Expected holding period - years 3.8 years |
Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes the Company’s stock option activity for the year ended December 31, 2018 : 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 1 475 $ 16.70 Granted 2,869 $ 30.59 Exercised (277 ) $ 17.75 Forfeited or expired (461 ) $ 32.57 Outstanding as of December 31 2,606 $ 29.08 6.01 $ 1.56 Fully vested and expected to vest as of December 31 2,402 $ 30.21 6.39 $ — Exercisable as of December 31 204 $ 15.77 1.57 $ 1.56 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | In millions U.S. Pension Benefits International Pension Benefits Total Pension Benefits Postretirement Benefits Postemployment Benefits Prior service cost (benefit) $ — $ 1 $ 1 $ (5 ) $ (2 ) Actuarial loss (gain) $ — $ — $ — $ 1 $ (2 ) |
Schedule of Expected Benefit Payments [Table Text Block] | In millions U.S. Pension Benefits International Pension Benefits Total Pension Benefits Postretirement Benefits Postemployment Benefits Year 2019 $ 105 $ 50 $ 155 $ 2 $ 30 2020 $ 107 $ 50 $ 157 $ 2 $ 20 2021 $ 110 $ 49 $ 159 $ 2 $ 19 2022 $ 112 $ 50 $ 162 $ 1 $ 17 2023 $ 114 $ 48 $ 162 $ 1 $ 16 2024-2028 $ 581 $ 255 $ 836 $ 4 $ 66 |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | 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 2018 2017 Change in benefit obligation Benefit obligation as of January 1 $ 21 $ 25 Interest cost — 1 Actuarial gain (3 ) (3 ) Plan participant contributions 1 — Benefits paid (1 ) (2 ) Benefit obligation as of December 31 $ 18 $ 21 Postemployment Benefits In millions 2018 2017 Change in benefit obligation Benefit obligation as of January 1 $ 142 $ 127 Service cost 43 34 Interest cost 3 2 Benefits paid (40 ) (34 ) Foreign currency exchange (6 ) 9 Actuarial (gain) loss (3 ) 4 Benefit obligation as of December 31 $ 139 $ 142 U.S. Pension Benefits International Pension Benefits Total Pension Benefits In millions 2018 2017 2018 2017 2018 2017 Change in benefit obligation Benefit obligation as of January 1 $ 1,950 $ 2,185 $ 1,273 $ 1,172 $ 3,223 $ 3,357 Net service cost — — 7 8 7 8 Interest cost 61 71 20 20 81 91 Amendment — — 4 — 4 — Actuarial (gain) loss (149 ) 121 (83 ) 43 (232 ) 164 Benefits paid (99 ) (427 ) (86 ) (75 ) (185 ) (502 ) Plan participant contributions — — 1 1 1 1 Currency translation adjustments — — (44 ) 104 (44 ) 104 Benefit obligation as of December 31 $ 1,763 $ 1,950 $ 1,092 $ 1,273 $ 2,855 $ 3,223 Accumulated benefit obligation as of December 31 $ 1,763 $ 1,950 $ 1,080 $ 1,262 $ 2,843 $ 3,212 |
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | U.S. Pension Benefits International Pension Benefits Total Pension Benefits In millions 2018 2017 2018 2017 2018 2017 Change in plan assets Fair value of plan assets as of January 1 $ 1,444 $ 1,722 $ 1,086 $ 978 $ 2,530 $ 2,700 Actual return on plan assets (76 ) 149 (34 ) 80 (110 ) 229 Company contributions — — 24 25 24 25 Benefits paid (99 ) (427 ) (86 ) (75 ) (185 ) (502 ) Currency translation adjustments — — (38 ) 77 (38 ) 77 Plan participant contributions — — 1 1 1 1 Fair value of plan assets as of December 31 $ 1,269 $ 1,444 $ 953 $ 1,086 $ 2,222 $ 2,530 |
Schedule of Net Benefit Costs [Table Text Block] | In millions Postemployment Benefits 2018 2017 2016 Service cost $ 43 $ 34 $ 16 Interest cost 3 2 3 Amortization of: Prior service benefit (5 ) (6 ) (6 ) Actuarial gain (1 ) (6 ) (7 ) Net benefit cost $ 40 $ 24 $ 6 Restructuring severance cost — — 4 Net periodic benefit cost $ 40 $ 24 $ 10 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 2018 2017 2016 2018 2017 2016 2018 2017 2016 Net service cost $ — $ — $ — $ 7 $ 8 $ 7 $ 7 $ 8 $ 7 Interest cost 61 71 90 20 20 28 81 91 118 Expected return on plan assets (43 ) (57 ) (72 ) (32 ) (35 ) (36 ) (75 ) (92 ) (108 ) Amortization of prior service cost — — — 1 1 1 1 1 1 Actuarial (gain) loss (29 ) 28 16 (16 ) — 69 (45 ) 28 85 Net periodic benefit (income) cost $ (11 ) $ 42 $ 34 $ (20 ) $ (6 ) $ 69 $ (31 ) $ 36 $ 103 |
Schedule of Net Benefit Costs and Amounts Recognized in Balance Sheet [Table Text Block] | 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 2018 2017 2018 2017 2018 2017 Funded Status $ (494 ) $ (506 ) $ (139 ) $ (187 ) $ (633 ) $ (693 ) Amounts recognized in the Consolidated Balance Sheets Noncurrent assets $ — $ — $ 140 $ 118 $ 140 $ 118 Current liabilities — — (14 ) (13 ) (14 ) (13 ) Noncurrent liabilities (494 ) (506 ) (265 ) (292 ) (759 ) (798 ) Net amounts recognized $ (494 ) $ (506 ) $ (139 ) $ (187 ) $ (633 ) $ (693 ) Amounts recognized in accumulated other comprehensive loss Prior service cost — — 21 18 21 18 Total $ — $ — $ 21 $ 18 $ 21 $ 18 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 : Postretirement Benefits In millions 2018 2017 Benefit obligation $ (18 ) $ (21 ) Amounts recognized in the Consolidated Balance Sheets Current liabilities $ (2 ) $ (2 ) Noncurrent liabilities (16 ) (19 ) Net amounts recognized $ (18 ) $ (21 ) Amounts recognized in accumulated other comprehensive loss Net actuarial loss $ 7 $ 11 Prior service benefit (8 ) (13 ) Total $ (1 ) $ (2 ) |
Schedule of Assumptions Used [Table Text Block] | Postretirement Benefit Obligations Postretirement Benefit Costs 2018 2017 2016 2018 2017 2016 Discount rate 3.7 % 3.1 % 3.2 % 3.1 % 3.2 % 3.3 % Assumed healthcare cost trend rates as of December 31 were: 2018 2017 Pre-65 Coverage Post-65 Coverage Pre-65 Coverage Post-65 Coverage Healthcare cost trend rate assumed for next year 7.1 % 6.1 % 6.6 % 5.9 % 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 2027 2027 2025 2025 Postemployment Benefit Obligations Postemployment Benefit Costs 2018 2017 2018 2017 2016 Discount rate 2.4 % 2.3 % 2.3 % 2.0 % 2.2 % Salary increase rate 1.9 % 1.9 % 1.9 % 1.8 % 2.1 % Involuntary turnover rate 4.3 % 4.8 % 4.8 % 4.8 % 4.8 % 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 2018 2017 2018 2017 2018 2017 Discount rate 4.2 % 3.6 % 2.1 % 1.9 % 3.4 % 2.9 % Rate of compensation increase N/A N/A 1.0 % 0.9 % 1.0 % 0.9 % 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 2018 2017 2016 2018 2017 2016 2018 2017 2016 Discount rate - Service Cost N/A N/A N/A 1.4 % 1.4 % 2.6 % 1.4 % 1.4 % 2.6 % Discount rate - Interest Cost 3.2 % 3.4 % 4.3 % 1.6 % 1.6 % 2.6 % 2.6 % 2.8 % 3.7 % Expected return on plan assets 3.1 % 3.5 % 4.3 % 3.0 % 3.5 % 3.8 % 3.1 % 3.5 % 4.1 % Rate of compensation increase N/A N/A N/A 0.9 % 0.9 % 1.3 % 0.9 % 0.9 % 1.3 % |
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | Postemployment Benefits In millions 2018 2017 Benefit obligation $ (139 ) $ (142 ) Amounts recognized in the Consolidated Balance Sheets Current liabilities $ (37 ) $ (28 ) Noncurrent liabilities (102 ) (114 ) Net amounts recognized $ (139 ) $ (142 ) Amounts recognized in accumulated other comprehensive loss Net actuarial gain $ (28 ) $ (20 ) Prior service benefit (6 ) (11 ) Total $ (34 ) $ (31 ) |
Schedule of Allocation of Plan Assets [Table Text Block] | The weighted average asset allocations as of December 31, 2018 and 2017 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 Actual Allocation of Plan Assets as of December 31 Target Asset Allocation 2018 2017 2018 2017 Equity securities — % — % 0 - 0% 20 % 22 % 12 - 27% Debt securities 98 % 98 % 95 - 100% 57 % 58 % 54 - 72% Real estate 1 % 1 % 0 - 2% 14 % 12 % 6 - 14% Other 1 % 1 % 0 - 3% 9 % 8 % 4 - 9% Total 100 % 100 % 100 % 100 % The fair value of plan assets as of December 31, 2018 and 2017 by asset category is as follows: U.S. International In millions Notes Fair Value as of December 31, 2018 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, 2018 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 $ — $ — $ — $ — $ — $ 44 $ 44 $ — $ — $ — Fixed income securities: Government securities 2 247 — 247 — — — — — — — Corporate debt 3 761 — 761 — — 100 — 100 — — Other types of investments: Money market funds 4 13 — 2 — 11 8 — 8 — — Common and commingled trusts - Equities 4 — — — — — 150 — — — 150 Common and commingled trusts - Bonds 4 174 — — — 174 405 — — — 405 Common and commingled trusts - Short Term Investments 4 27 — — — 27 40 — — — 40 Common and commingled trusts - Balanced 4 — — — — — 76 — — — 76 Partnership/joint venture interests - Real estate 5 4 — — — 4 — — — — — Partnership/joint venture interests - Other 5 4 — — — 4 — — — — — Mutual funds 4 39 39 — — — — — — — — Hedge Funds 5 — — — — — — — — — — Insurance products 4 — — — — — 1 — 1 — — Real estate and other 5 — — — — — 129 — — 129 — Total $ 1,269 $ 39 $ 1,010 $ — $ 220 $ 953 $ 44 $ 109 $ 129 $ 671 U.S. International In millions Notes Fair Value as of December 31, 2017 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, 2017 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 $ 1 $ — $ 1 $ — $ — $ 56 $ 56 $ — $ — $ — Fixed income securities: Government securities 2 223 — 223 — — 49 — 49 — — Corporate debt 3 895 — 895 — — 141 — 139 2 — Other types of investments: Money market funds 4 24 — — — 24 15 — 10 — 5 Common and commingled trusts - Equities 4 — — — — — 182 — — — 182 Common and commingled trusts - Bonds 4 207 — — — 207 421 — — — 421 Common and commingled trusts - Short Term Investments 4 31 — — — 31 24 — — — 24 Common and commingled trusts - Balanced 4 — — — — — 68 — — — 68 Partnership/joint venture interests - Real estate 5 5 — — — 5 — — — — — Partnership/joint venture interests - Other 5 5 — — — 5 — — — — — Mutual funds 4 53 53 — — — — — — — — Hedge Funds 5 — — — — — — — — — — Insurance products 4 — — — — — 1 — 1 — — Real estate and other 5 — — — — — 129 — — 129 — Total $ 1,444 $ 53 $ 1,119 $ — $ 272 $ 1,086 $ 56 $ 199 $ 131 $ 700 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 and hedge funds 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 and in the case of hedge funds they are valued using a Net Asset Value (NAV) provided by the manager of each fund. 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. |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | 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, 2016 $ 124 Realized and unrealized gains and losses, net 7 Purchases, sales and settlements, net — Transfers, net — Balance, December 31, 2017 $ 131 Realized and unrealized gains and losses, net — Purchases, sales and settlements, net — Transfers, net (2 ) Balance, December 31, 2018 $ 129 |
Postretirement Benefits [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Net Benefit Costs [Table Text Block] | In millions Postretirement Benefits 2018 2017 2016 Interest cost $ — $ 1 $ 1 Amortization of: Prior service benefit (5 ) (6 ) (14 ) Actuarial loss 1 2 2 Net periodic benefit income $ (4 ) $ (3 ) $ (11 ) |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Product Warranty Liability [Table Text Block] | The Company recorded the activity related to the warranty reserve for the years ended December 31 as follows: In millions 2018 2017 2016 Warranty reserve liability Beginning balance as of January 1 $ 26 $ 27 $ 24 Accruals for warranties issued 42 43 42 Settlements (in cash or in kind) (42) (44) (39) Ending balance as of December 31 $ 26 $ 26 $ 27 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum lease payments under non-cancelable operating leases as of December 31, 2018 , for the following fiscal years are: In millions 2019 2020 2021 2022 2023 Minimum lease obligations $ 128 $ 96 $ 80 $ 64 $ 50 |
Derivatives and Hedging Instr_2
Derivatives and Hedging Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | 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, 2018 In millions Balance Sheet Location Notional Amount Fair Value Balance Sheet Location Notional Amount Fair Value Derivatives designated as hedging instruments Foreign exchange contracts Other current assets $169 $4 Other current liabilities $— $— Total derivatives designated as hedging instruments $4 $— Derivatives not designated as hedging instruments Foreign exchange contracts Other current assets $219 $1 Other current liabilities $157 $1 Total derivatives not designated as hedging instruments $1 $1 Total derivatives $5 $1 Fair Values of Derivative Instruments December 31, 2017 In millions Balance Sheet Location Notional Amount Fair Value Balance Sheet Location Notional Amount Fair Value Derivatives designated as hedging instruments Foreign exchange contracts Other current assets $104 $— Other current liabilities $142 $1 Total derivatives designated as hedging instruments $— $1 Derivatives not designated as hedging instruments Foreign exchange contracts Other current assets $101 $1 Other current liabilities $292 $1 Total derivatives not designated as hedging instruments $1 $1 Total derivatives $1 $2 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The effects of derivative instruments on the Consolidated Statement of Operations for the years ended December 31 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 Statement of Operations Derivatives in Cash Flow Hedging Relationships For the year ended December 31, 2018 For the year ended December 31, 2017 For the year ended December 31, 2016 Location of (Gain) Loss Reclassified from AOCI into the Consolidated Statement of Operations (Effective Portion) For the year ended December 31, 2018 For the year ended December 31, 2017 For the year ended December 31, 2016 Interest rate swap $— $— $— Interest expense $— $— $2 Foreign exchange contracts $11 $(16) $19 Cost of products $(7) $(1) $(3) In millions Amount of Gain (Loss) Recognized in the Consolidated Statement of Operations Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in the Consolidated Statement of Operations For the year ended December 31, 2018 For the year ended December 31, 2017 For the year ended December 31, 2016 Foreign exchange contracts Other income (expense), net $(9) $(4) $(1) |
Fair Value of Assets and Liab_2
Fair Value of Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets and liabilities recorded at fair value on a recurring basis as of December 31, 2018 and 2017 are set forth as follows: December 31, 2018 December 31, 2017 Fair Value Measurements Using Fair Value Measurements Using In millions December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2017 Quoted Prices Significant Other Significant Assets: Deposits held in money market mutual funds (1) $8 $8 $— $— $90 $90 $— $— Foreign exchange contracts (2) 5 — 5 — 1 — 1 — Total $13 $8 $5 $— $91 $90 $1 $— Liabilities: Foreign exchange contracts (3) 1 — 1 — 2 — 2 — Total $1 $— $1 $— $2 $— $2 $— (1) Included in Cash and cash equivalents in the Consolidated Balance Sheet. (2) Included in Other current assets in the Consolidated Balance Sheet. (3) Included in Other current liabilities in the Consolidated Balance Sheet. |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | The following table presents revenue and operating income by segment for the years ended December 31 : In millions 2018 2017 2016 Revenue by segment Banking $ 3,183 $ 3,175 $ 3,370 Retail 2,097 2,169 2,070 Hospitality 817 878 800 Other 308 294 303 Consolidated revenue 6,405 6,516 6,543 Operating income by segment Banking 412 421 441 Retail 142 231 191 Hospitality 85 140 151 Other 49 48 47 Subtotal - segment operating income 688 840 830 Other adjustments (1) 497 149 156 Income from operations $ 191 $ 691 $ 674 (1) The following table presents the other adjustments for NCR for the years ended December 31 : In millions 2018 2017 2016 Transformation and restructuring costs $ 223 $ 29 $ 26 Acquisition-related amortization of intangibles 85 115 123 Acquisition-related costs 6 5 7 Goodwill and long-lived asset impairment charges 183 — — Total other adjustments $ 497 $ 149 $ 156 |
Revenue from External Customers by Products and Services [Table Text Block] | The following table presents revenue from products and services for NCR for the years ended December 31 : In millions 2018 2017 2016 Product revenue $ 2,341 $ 2,579 $ 2,737 Professional services and installation services revenue 1,094 1,055 1,011 Recurring revenue, including maintenance and cloud revenue 2,970 2,882 2,795 Total revenue $ 6,405 $ 6,516 $ 6,543 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Revenue is attributed to the geographic area/country 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 2018 % 2017 % 2016 % Revenue by Geographic Area United States $ 3,076 48 % $ 3,224 50 % $ 3,106 47 % Americas (excluding United States) 631 10 % 585 9 % 637 10 % Europe, Middle East and Africa (EMEA) 1,751 27 % 1,786 27 % 1,896 29 % Asia Pacific (APJ) 947 15 % 921 14 % 904 14 % Consolidated revenue $ 6,405 100 % $ 6,516 100 % $ 6,543 100 % |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | The following table presents property, plant and equipment by geographic area as of December 31 : In millions 2018 2017 Property, plant and equipment, net United States $ 247 $ 204 Americas (excluding United States) 13 19 Europe, Middle East and Africa (EMEA) 57 75 Asia Pacific (APJ) 42 43 Consolidated property, plant and equipment, net $ 359 $ 341 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (AOCI) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement of Financial Position [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | 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, 2015 $ (172 ) $ 23 $ (1 ) $ (150 ) Other comprehensive (loss) income before reclassifications (52 ) (1 ) 16 (37 ) Amounts reclassified from AOCI — (16 ) (2 ) (18 ) Net current period other comprehensive (loss) income (52 ) (17 ) 14 (55 ) Balance at December 31, 2016 $ (224 ) $ 6 $ 13 $ (205 ) Other comprehensive (loss) income before reclassifications 41 (13 ) (13 ) 15 Amounts reclassified from AOCI — (8 ) (1 ) (9 ) Net current period other comprehensive (loss) income 41 (21 ) (14 ) 6 Balance at December 31, 2017 $ (183 ) $ (15 ) $ (1 ) $ (199 ) Impact of adoption of new accounting standard (1) — 1 — 1 Other comprehensive (loss) income before reclassifications (51 ) 6 11 (34 ) Amounts reclassified from AOCI — (6 ) (8 ) (14 ) Net current period other comprehensive (loss) income (51 ) — 3 (48 ) Balance at December 31, 2018 $ (234 ) $ (14 ) $ 2 $ (246 ) |
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income [Table Text Block] | For the year ended December 31, 2018 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 — (5 ) — (5 ) Selling, general and administrative expenses — (3 ) — (3 ) Research and development expenses — (1 ) — (1 ) Total before tax $ — $ (9 ) $ (7 ) $ (16 ) Tax expense 2 Total reclassifications, net of tax $ (14 ) For the year ended December 31, 2017 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 $ — $ — $ (1 ) $ (1 ) Cost of services (1 ) (6 ) — (7 ) Selling, general and administrative expenses — (4 ) — (4 ) Research and development expenses (1 ) (1 ) — (2 ) Total before tax $ (2 ) $ (11 ) $ (1 ) $ (14 ) Tax expense 5 Total reclassifications, net of tax $ (9 ) For the year ended December 31, 2016 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 $ — $ — $ (3 ) $ (3 ) Cost of services (1 ) (10 ) — (11 ) Selling, general and administrative expenses — (6 ) — (6 ) Research and development expenses (1 ) (3 ) — (4 ) Interest expense — — 2 2 Total before tax $ (2 ) $ (19 ) $ (1 ) $ (22 ) Tax expense 4 Total reclassifications, net of tax $ (18 ) |
Restructuring Plan (Tables)
Restructuring Plan (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Costs [Table Text Block] | In millions 2018 Employee Severance and Other Exit Costs Beginning balance as of January 1 $— Cost recognized during the period 13 Change in estimated payments — Utilization (11) Currency translation adjustments — Ending balance as of December 31 $2 |
Supplemental Financial Inform_2
Supplemental Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Supplemental Financial Information [Abstract] | |
Interest and Other Income [Table Text Block] | The components of other income (expense), net are summarized as follows for the years ended December 31 : In millions 2018 2017 2016 Other income (expense), net Interest income $ 5 $ 3 $ 4 Foreign currency fluctuations and foreign exchange contracts (26 ) (26 ) (40 ) Employee benefit plans 45 (15 ) (75 ) Bank-related fees (8 ) (8 ) (8 ) Divestiture and liquidation losses — — (6 ) Total other income (expense), net $ 16 $ (46 ) $ (125 ) |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | The components of accounts receivable are summarized as follows: In millions December 31, 2018 December 31, 2017 Accounts receivable Trade $ 1,364 $ 1,270 Other 23 37 Accounts receivable, gross 1,387 1,307 Less: allowance for doubtful accounts (31 ) (37 ) Total accounts receivable, net $ 1,356 $ 1,270 |
Schedule of Inventory, Current [Table Text Block] | The components of inventory are summarized as follows: In millions December 31, 2018 December 31, 2017 Inventories Work in process and raw materials $ 237 $ 185 Finished goods 214 190 Service parts 355 405 Total inventories $ 806 $ 780 |
Property, Plant and Equipment [Table Text Block] | The components of property, plant and equipment are summarized as follows: In millions December 31, 2018 December 31, 2017 Property, plant and equipment Land and improvements $ 6 $ 7 Buildings and improvements 273 278 Machinery and other equipment 650 633 Property, plant and equipment, gross 929 918 Less: accumulated depreciation (570 ) (577 ) Total property, plant and equipment, net $ 359 $ 341 |
Condensed Consolidating Suppl_2
Condensed Consolidating Supplemental Guarantor Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Consolidating Supplemental Guarantor Information [Abstract] | |
Schedule of Condensed Consolidating Supplemental Guarantor Information | Consolidating Statements of Operations and Comprehensive Income (Loss) For the year ended December 31, 2018 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Product revenue $ 1,091 $ 36 $ 1,440 $ (226 ) $ 2,341 Service revenue 2,117 33 1,914 — 4,064 Total revenue 3,208 69 3,354 (226 ) 6,405 Cost of products 1,000 32 1,182 (226 ) 1,988 Cost of services 1,443 13 1,286 — 2,742 Selling, general and administrative expenses 577 2 426 — 1,005 Research and development expenses 102 — 150 — 252 Asset impairment charges 210 — 17 — 227 Total operating expenses 3,332 47 3,061 (226 ) 6,214 Income (loss) from operations (124 ) 22 293 — 191 Interest expense (161 ) — (15 ) 8 (168 ) Other income (expense), net 7 6 11 (8 ) 16 Income (loss) from continuing operations before income taxes (278 ) 28 289 — 39 Income tax expense (benefit) (56 ) 72 57 — 73 Income (loss) from continuing operations before earnings in subsidiaries (222 ) (44 ) 232 — (34 ) Equity in earnings of consolidated subsidiaries 184 237 — (421 ) — Income (loss) from continuing operations (38 ) 193 232 (421 ) (34 ) Income (loss) from discontinued operations, net of tax (50 ) — (2 ) — (52 ) Net income (loss) $ (88 ) $ 193 $ 230 $ (421 ) $ (86 ) Net income (loss) attributable to noncontrolling interests — — 2 — 2 Net income (loss) attributable to NCR $ (88 ) $ 193 $ 228 $ (421 ) $ (88 ) Total comprehensive income (loss) (136 ) 118 174 (292 ) (136 ) Less comprehensive income (loss) attributable to noncontrolling interests — — — — — Comprehensive income (loss) attributable to NCR common stockholders $ (136 ) $ 118 $ 174 $ (292 ) $ (136 ) Consolidating Statements of Operations and Comprehensive Income (Loss) For the year ended December 31, 2017 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Product revenue $ 1,329 $ 91 $ 1,454 $ (295 ) $ 2,579 Service revenue 2,051 29 1,857 — 3,937 Total revenue 3,380 120 3,311 (295 ) 6,516 Cost of products 1,042 37 1,237 (295 ) 2,021 Cost of services 1,360 10 1,270 — 2,640 Selling, general and administrative expenses 490 3 430 — 923 Research and development expenses 184 — 57 — 241 Restructuring-related charges — — — — — Total operating expenses 3,076 50 2,994 (295 ) 5,825 Income (loss) from operations 304 70 317 — 691 Interest expense (159 ) — (9 ) 5 (163 ) Other income (expense), net (74 ) 1 32 (5 ) (46 ) Income (loss) from continuing operations before income taxes 71 71 340 — 482 Income tax expense (benefit) 113 107 22 — 242 Income (loss) from continuing operations before earnings in subsidiaries (42 ) (36 ) 318 — 240 Equity in earnings of consolidated subsidiaries 279 291 — (570 ) — Income (loss) from continuing operations 237 255 318 (570 ) 240 Income (loss) from discontinued operations, net of tax (5 ) — — — (5 ) Net income (loss) $ 232 $ 255 $ 318 $ (570 ) $ 235 Net income (loss) attributable to noncontrolling interests — — 3 — 3 Net income (loss) attributable to NCR $ 232 $ 255 $ 315 $ (570 ) $ 232 Total comprehensive income (loss) 238 269 317 (585 ) 239 Less comprehensive income (loss) attributable to noncontrolling interests — — 1 — 1 Comprehensive income (loss) attributable to NCR common stockholders $ 238 $ 269 $ 316 $ (585 ) $ 238 Consolidating Statements of Operations and Comprehensive Income (Loss) For the year ended December 31, 2016 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Product revenue $ 1,293 $ 111 $ 1,768 $ (435 ) $ 2,737 Service revenue 1,962 36 1,808 — 3,806 Total revenue 3,255 147 3,576 (435 ) 6,543 Cost of products 1,028 50 1,456 (435 ) 2,099 Cost of services 1,359 12 1,255 — 2,626 Selling, general and administrative expenses 526 4 374 — 904 Research and development expenses 160 — 65 — 225 Restructuring-related charges 3 — 12 — 15 Total operating expenses 3,076 66 3,162 (435 ) 5,869 Income (loss) from operations 179 81 414 — 674 Interest expense (165 ) — (10 ) 5 (170 ) Other income (expense), net (42 ) (23 ) (55 ) (5 ) (125 ) Income (loss) from continuing operations before income taxes (28 ) 58 349 — 379 Income tax expense (benefit) (20 ) 21 91 — 92 Income (loss) from continuing operations before earnings in subsidiaries (8 ) 37 258 — 287 Equity in earnings of consolidated subsidiaries 291 304 — (595 ) — Income (loss) from continuing operations 283 341 258 (595 ) 287 Income (loss) from discontinued operations, net of tax (13 ) — — — (13 ) Net income (loss) $ 270 $ 341 $ 258 $ (595 ) $ 274 Net income (loss) attributable to noncontrolling interests — — 4 — 4 Net income (loss) attributable to NCR $ 270 $ 341 $ 254 $ (595 ) $ 270 Total comprehensive income (loss) 215 277 195 (473 ) 214 Less comprehensive income (loss) attributable to noncontrolling interests — — (1 ) — (1 ) Comprehensive income (loss) attributable to NCR common stockholders $ 215 $ 277 $ 196 $ (473 ) $ 215 Consolidating Balance Sheet December 31, 2018 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ 6 $ 8 $ 450 $ — $ 464 Accounts receivable, net 37 10 1,309 — 1,356 Inventories 288 4 514 — 806 Due from affiliates 708 2,092 457 (3,257 ) — Other current assets 137 47 255 (42 ) 397 Total current assets 1,176 2,161 2,985 (3,299 ) 3,023 Property, plant and equipment, net 245 1 113 — 359 Goodwill 2,168 — 524 — 2,692 Intangibles, net 536 — 59 — 595 Prepaid pension cost — — 140 — 140 Deferred income taxes 317 — 149 (18 ) 448 Investments in subsidiaries 3,244 2,854 — (6,098 ) — Due from affiliates 16 1 35 (52 ) — Other assets 453 4 47 — 504 Total assets $ 8,155 $ 5,021 $ 4,052 $ (9,467 ) $ 7,761 Liabilities and stockholders’ equity Current liabilities Short-term borrowings $ 85 $ — $ 100 $ — $ 185 Accounts payable 397 2 498 — 897 Payroll and benefits liabilities 141 — 97 — 238 Deferred service revenue and customer deposits 221 5 235 — 461 Due to affiliates 2,177 143 937 (3,257 ) — Other current liabilities 201 6 336 (42 ) 501 Total current liabilities 3,222 156 2,203 (3,299 ) 2,282 Long-term debt 2,978 — 2 — 2,980 Pension and indemnity plan liabilities 502 — 257 — 759 Postretirement and postemployment benefits liabilities 18 3 97 — 118 Income tax accruals 19 5 67 — 91 Due to affiliates — 36 16 (52 ) — Other liabilities 162 24 91 (18 ) 259 Total liabilities 6,901 224 2,733 (3,369 ) 6,489 Redeemable noncontrolling interest — — 14 — 14 Series A convertible preferred stock 859 — — — 859 Stockholders’ equity Total NCR stockholders’ equity 395 4,797 1,301 (6,098 ) 395 Noncontrolling interests in subsidiaries — — 4 — 4 Total stockholders’ equity 395 4,797 1,305 (6,098 ) 399 Total liabilities and stockholders’ equity $ 8,155 $ 5,021 $ 4,052 $ (9,467 ) $ 7,761 Consolidating Balance Sheet December 31, 2017 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ 97 $ 11 $ 429 $ — $ 537 Accounts receivable, net 62 12 1,196 — 1,270 Inventories 311 7 462 — 780 Due from affiliates 646 1,801 283 (2,730 ) — Other current assets 78 39 162 (36 ) 243 Total current assets 1,194 1,870 2,532 (2,766 ) 2,830 Property, plant and equipment, net 207 — 134 — 341 Goodwill 2,228 — 513 — 2,741 Intangibles, net 503 — 75 — 578 Prepaid pension cost — — 118 — 118 Deferred income taxes 334 — 157 (31 ) 460 Investments in subsidiaries 3,008 2,942 — (5,950 ) — Due from affiliates 31 1 39 (71 ) — Other assets 472 63 51 — 586 Total assets $ 7,977 $ 4,876 $ 3,619 $ (8,818 ) $ 7,654 Liabilities and stockholders’ equity Current liabilities Short-term borrowings $ 52 $ — $ — $ — $ 52 Accounts payable 382 — 380 — 762 Payroll and benefits liabilities 124 — 95 — 219 Deferred service revenue and customer deposits 216 6 236 — 458 Due to affiliates 1,884 130 716 (2,730 ) — Other current liabilities 204 5 225 (36 ) 398 Total current liabilities 2,862 141 1,652 (2,766 ) 1,889 Long-term debt 2,937 — 2 — 2,939 Pension and indemnity plan liabilities 515 — 283 — 798 Postretirement and postemployment benefits liabilities 20 3 110 — 133 Income tax accruals 20 5 123 — 148 Due to affiliates — 39 32 (71 ) — Other liabilities 94 36 101 (31 ) 200 Total liabilities 6,448 224 2,303 (2,868 ) 6,107 Redeemable noncontrolling interest — — 15 — 15 Series A Convertible Preferred Stock 810 — — — 810 Stockholders’ equity Total NCR stockholders’ equity 719 4,652 1,298 (5,950 ) 719 Noncontrolling interests in subsidiaries — — 3 — 3 Total stockholders’ equity 719 4,652 1,301 (5,950 ) 722 Total liabilities and stockholders’ equity $ 7,977 $ 4,876 $ 3,619 $ (8,818 ) $ 7,654 Consolidating Statement of Cash Flows For the year ended December 31, 2018 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ 353 $ (138 ) $ 375 $ (18 ) $ 572 Investing activities Expenditures for property, plant and equipment (109 ) — (34 ) — (143 ) Additions to capitalized software (144 ) — (26 ) — (170 ) Investments in equity affiliates (14 ) — — 14 — Proceeds from (payments of) intercompany notes 228 135 — (363 ) — Acquisitions (206 ) — — — (206 ) Proceeds from the sale of PPE 1 — 2 — 3 Other investing activities, net (4 ) — — — (4 ) Net cash provided by (used in) investing activities (248 ) 135 (58 ) (349 ) (520 ) Financing activities Tax withholding payments on behalf of employees (36 ) — — — (36 ) Repurchases of Company common stock (210 ) — — — (210 ) Short term borrowings, net (1 ) — — — (1 ) Borrowings on term facility — — — — — Payments of term credit facilities (51 ) — — — (51 ) Proceeds from employee stock plans 20 — — — 20 Payments on revolving credit facilities (1,755 ) — (478 ) — (2,233 ) Borrowings on revolving credit facilities 1,875 — 578 — 2,453 Equity contribution — — 14 (14 ) — Dividends distribution to consolidated subsidiaries — — (18 ) 18 — Borrowings (repayments) of intercompany notes — — (363 ) 363 — Net cash provided by (used in) financing activities (158 ) — (267 ) 367 (58 ) Cash flows from discontinued operations Net cash used in discontinued operations operating activities (36 ) — — — (36 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash (1 ) — (24 ) — (25 ) Increase (decrease) in cash, cash equivalents and restricted cash (90 ) (3 ) 26 — (67 ) Cash, cash equivalents and restricted cash at beginning of period 97 11 435 — 543 Cash, cash equivalents and restricted cash at end of period $ 7 $ 8 $ 461 $ — $ 476 In millions December 31, 2018 Reconciliation of cash, cash equivalents and restricted cash as shown in the Consolidated Statements of Cash Flows Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ 6 $ 8 $ 450 $ — $ 464 Restricted cash included in Other assets 1 — 11 — 12 Total cash, cash equivalents and restricted cash $ 7 $ 8 $ 461 $ — $ 476 Consolidating Statement of Cash Flows For the year ended December 31, 2017 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ 459 $ (180 ) $ 483 $ (10 ) $ 752 Investing activities Expenditures for property, plant and equipment (87 ) — (41 ) — (128 ) Additions to capitalized software (133 ) — (33 ) — (166 ) Proceeds from (payments of) intercompany notes 230 180 2 (412 ) — Acquisitions (8 ) — — — (8 ) Proceeds from the sale of PPE — — 6 — 6 Proceeds from divestitures 3 — — — 3 Investments in equity affiliates 3 — — (3 ) — Other investing activities, net (1 ) — 4 — 3 Net cash provided by (used in) investing activities 7 180 (62 ) (415 ) (290 ) Financing activities Short term borrowings, net (5 ) — 1 — (4 ) Payments on term credit facilities (56 ) — (5 ) — (61 ) Payments on revolving credit facilities (1,700 ) — (240 ) — (1,940 ) Borrowings on revolving credit facilities 1,700 — 240 — 1,940 Tax withholding payments on behalf of employees (31 ) — — — (31 ) Proceeds from employee stock plans 15 — — — 15 Other financing activities (1 ) — (2 ) — (3 ) Dividend distribution to consolidated subsidiaries — — (10 ) 10 — Repurchases of Company common stock (350 ) — — — (350 ) Equity contribution — — (3 ) 3 — Borrowings (repayments) of intercompany notes — (2 ) (410 ) 412 — Net cash provided by (used in) financing activities (428 ) (2 ) (429 ) 425 (434 ) Cash flows from discontinued operations Net cash used in discontinued operations operating activities (8 ) — — — (8 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — 1 15 — 16 Increase (decrease) in cash, cash equivalents and restricted cash 30 (1 ) 7 — 36 Cash, cash equivalents and restricted cash at beginning of period 67 12 428 — 507 Cash, cash equivalents and restricted cash at end of period $ 97 $ 11 $ 435 $ — $ 543 In millions December 31, 2017 Reconciliation of cash, cash equivalents and restricted cash as shown in the Consolidated Statements of Cash Flows Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Cash and cash equivalents $ 97 $ 11 $ 429 $ — $ 537 Restricted cash included in Other assets — — 6 — 6 Total cash, cash equivalents and restricted cash $ 97 $ 11 $ 435 $ — $ 543 Consolidating Statement of Cash Flows For the year ended December 31, 2016 (in millions) Parent Issuer Guarantor Subsidiary Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities 336 (160 ) 723 (3 ) 896 Investing activities Expenditures for property, plant and equipment (33 ) — (40 ) — (73 ) Additions to capitalized software (114 ) — (40 ) — (154 ) Proceeds from (payments of) intercompany notes 365 115 — (480 ) — Proceeds from divestitures 22 — 25 — 47 Investments in equity affiliates (9 ) 50 — (41 ) — Other investing activities, net (9 ) — — — (9 ) Net cash provided by (used in) investing activities 222 165 (55 ) (521 ) (189 ) Financing activities Short term borrowings, net (4 ) — (4 ) — (8 ) Payments on revolving credit facilities (89 ) — (8 ) — (97 ) Payments on revolving credit facilities (1,151 ) — (280 ) — (1,431 ) Borrowings on revolving credit facilities 1,051 — 280 — 1,331 Tax withholding payments on behalf of employees (16 ) — — — (16 ) Proceeds from employee stock plans 15 — — — 15 Debt issuance costs (9 ) — — — (9 ) Dividend distribution to consolidated subsidiaries — — (53 ) 53 — Other financing activities — — (2 ) — (2 ) Equity contribution — — 9 (9 ) — Borrowings (repayments) of intercompany notes (16 ) — (464 ) 480 — Tender offer share repurchase (250 ) — — — (250 ) Net cash provided by (used in) financing activities (469 ) — (522 ) 524 (467 ) Cash flows from discontinued operations Net cash used in discontinued operations operating activities (39 ) — — — (39 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — (13 ) (16 ) — (29 ) Increase (decrease) in cash, cash equivalents and restricted cash 50 (8 ) 130 — 172 Cash, cash equivalents and restricted cash at beginning of period 17 20 298 — 335 Cash, cash equivalents and restricted cash at end of period $ 67 $ 12 $ 428 $ — $ 507 |
Quarterly Information (unaudi_2
Quarterly Information (unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | In millions, except per share amounts First Second Third Fourth 2018 Total revenue $ 1,517 $ 1,537 $ 1,550 $ 1,801 Gross margin 420 403 410 442 Income from operations 109 (106 ) 125 63 Income from continuing operations (attributable to NCR) 55 (143 ) 85 (33 ) Income (loss) from discontinued operations, net of tax (35 ) (2 ) (1 ) (14 ) Net (loss) income attributable to NCR common stockholders 8 (157 ) 72 (60 ) Income (loss) per share attributable to NCR common stockholders: Income (loss) per common share from continuing operations Basic $ 0.36 $ (1.31 ) $ 0.62 $ (0.39 ) Diluted $ 0.35 $ (1.31 ) $ 0.57 $ (0.39 ) Net (loss) income per common share: Basic $ 0.07 $ (1.33 ) $ 0.61 $ (0.51 ) Diluted $ 0.06 $ (1.33 ) $ 0.56 $ (0.51 ) 2017 Total revenue $ 1,478 $ 1,593 $ 1,663 $ 1,782 Gross margin 412 461 472 510 Income from operations 115 175 199 202 Income from continuing operations (attributable to NCR) 57 97 118 (35 ) (Loss) from discontinued operations, net of tax — 5 — (10 ) Net income attributable to NCR common stockholders (17 ) 90 106 (56 ) Income per share attributable to NCR common stockholders: Income per common share from continuing operations Basic $ (0.14 ) $ 0.70 $ 0.87 $ (0.38 ) Diluted $ (0.14 ) $ 0.64 $ 0.77 $ (0.38 ) Net income per common share: Basic $ (0.14 ) $ 0.74 $ 0.87 $ (0.46 ) Diluted $ (0.14 ) $ 0.67 $ 0.77 $ (0.46 ) |
Description of Business and S_4
Description of Business and Significant Accounting Policies - Revenue Recognition (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Concentration Risk [Line Items] | ||
Contract term used to recognize set up fees | 5 months | |
Period of benefit used to amortize set up costs | 7 months | |
Sales Revenue, Net [Member] | Bill and Hold Transactions [Member] | Maximum [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 1.00% | 1.00% |
Description of Business and S_5
Description of Business and Significant Accounting Policies New Accounting Pronouncements or Change in Accounting Principle (Details) - Retained Earnings $ in Millions | Dec. 31, 2018USD ($) |
Accounting Standards Update 2014-09 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 2 |
Accounting Standards Update 2016-16 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 13 |
Description of Business and S_6
Description of Business and Significant Accounting Policies Description of Business and Significant Accounting Policies - Earnings Per Share (Basic) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||||||||||
Income (loss) from continuing operations | $ (35) | $ 118 | $ 97 | $ 57 | $ (36) | $ 237 | $ 283 | ||||
Series A convertible preferred stock dividends | (49) | (47) | (49) | ||||||||
Deemed dividend on modification of Series A convertible preferred stock | 0 | (4) | 0 | ||||||||
Deemed dividend on preferred stock redemption | 0 | (58) | 0 | ||||||||
Income (loss) from continuing operations attributable to common stockholders | (85) | 128 | 234 | ||||||||
Income (loss) from discontinued operations, net of tax | $ (14) | $ (1) | $ (2) | $ (35) | $ (10) | $ 0 | $ 5 | $ 0 | (52) | (5) | (13) |
Net income (loss) attributable to NCR common stockholders | $ (137) | $ 123 | $ 221 | ||||||||
Basic (in shares) | 118.4 | 121.9 | 125.6 | ||||||||
Basic (in dollars per share) | $ (0.39) | $ 0.62 | $ (1.31) | $ 0.36 | $ (0.38) | $ 0.87 | $ 0.70 | $ (0.14) | $ (0.72) | $ 1.05 | $ 1.86 |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | (0.44) | (0.04) | (0.10) | ||||||||
Basic (in dollars per share) | $ (0.51) | $ 0.61 | $ (1.33) | $ 0.07 | $ (0.46) | $ 0.87 | $ 0.74 | $ (0.14) | $ (1.16) | $ 1.01 | $ 1.76 |
Description of Business and S_7
Description of Business and Significant Accounting Policies - Earnings Per Share (Diluted) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share Reconciliation [Abstract] | |||||||||||
Income from continuing operations | $ (35) | $ 118 | $ 97 | $ 57 | $ (36) | $ 237 | $ 283 | ||||
Preferred Stock Dividends Income Statement Impact Included in Diluted Earnings Per Share From Continuing Operations | (49) | (47) | 0 | ||||||||
Deemed dividend on modification of Series A convertible preferred stock | 0 | (4) | 0 | ||||||||
Deemed dividend on preferred stock redemption | 0 | (58) | 0 | ||||||||
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Diluted | (85) | 128 | 283 | ||||||||
Income (loss) from discontinued operations, net of tax | $ (14) | $ (1) | $ (2) | $ (35) | $ (10) | $ 0 | $ 5 | $ 0 | (52) | (5) | (13) |
Preferred Stock Dividends Income Statement Impact Included in Diluted Earnings Per Share | 0 | 0 | (49) | ||||||||
Net income (loss) attributable to NCR common stockholders | $ (137) | $ 123 | $ 221 | ||||||||
Weighted average outstanding shares of common stock | 118.4 | 121.9 | 125.6 | ||||||||
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Preferred Stock | 0 | 0 | 28.2 | ||||||||
Dilutive effect of employee stock options and restricted stock | 0 | 5.1 | 3.6 | ||||||||
Diluted (continuing operations) | 118.4 | 127 | 157.4 | ||||||||
Weighted Average Number of Shares Outstanding, Diluted | 118.4 | 127 | 129.2 | ||||||||
Diluted earnings (loss) per share [Abstract] | |||||||||||
Diluted (in dollars per share) | $ (0.39) | $ 0.57 | $ (1.31) | $ 0.35 | $ (0.38) | $ 0.77 | $ 0.64 | $ (0.14) | $ (0.72) | $ 1.01 | $ 1.80 |
From discontinued operations (in dollars per share) | (0.44) | (0.04) | (0.10) | ||||||||
Diluted (in dollars per share) | $ (0.51) | $ 0.56 | $ (1.33) | $ 0.06 | $ (0.46) | $ 0.77 | $ 0.67 | $ (0.14) | $ (1.16) | $ 0.97 | $ 1.71 |
Series A Preferred Stock [Member] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 28.3 | 27.4 | |||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 6.5 | 0.8 | 0.4 |
Description of Business and S_8
Description of Business and Significant Accounting Policies Description of Business and Significant Accounting Policies - Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Contract with Customer, Asset and Liability [Abstract] | ||
Contract with Customer, Asset, Net | $ 22 | $ 28 |
Deferred service revenue and customer deposits | 461 | 458 |
Contract with Customer, Liability, Noncurrent | 85 | $ 95 |
Contract with Customer, Liability, Revenue Recognized | $ 355 |
Description of Business and S_9
Description of Business and Significant Accounting Policies - Capitalized Software and Property, Plant and Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 81 | $ 86 | $ 90 |
Capitalized Software [Roll Forward] | |||
Beginning balance | 366 | 345 | 311 |
Capitalization | 170 | 166 | 154 |
Amortization | (160) | (145) | (118) |
Impairment | (51) | 0 | (2) |
Ending balance | $ 325 | $ 366 | $ 345 |
Machinery and other equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 3 years | ||
Machinery and other equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 20 years | ||
Building [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 25 years | ||
Building [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 45 years | ||
Software Development Costs, Internal Use [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Capitalized computer software, useful life | 4 years | ||
Software Development Costs, Internal Use [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Capitalized computer software, useful life | 7 years | ||
Software and Software Development Costs [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Capitalized computer software, useful life | 3 years | ||
Software and Software Development Costs [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Capitalized computer software, useful life | 5 years |
Description of Business and _10
Description of Business and Significant Accounting Policies Redeemable Noncontrolling Interest (Details) | Dec. 31, 2018 |
NCR Manaus [Member] | |
Redeemable Noncontrolling Interest [Line Items] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% |
Description of Business and _11
Description of Business and Significant Accounting Policies - Related Party Transactions (Details) - Bradesco [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Related Party Transaction [Line Items] | |||
Revenues with related party | $ 59 | $ 79 | $ 82 |
Receivables outstanding from related party | $ 15 | $ 18 |
Description of Business and _12
Description of Business and Significant Accounting Policies Remaining Performance Obligations (Details) $ in Billions | Dec. 31, 2018USD ($) |
Remaining Performance Obligations [Abstract] | |
Revenue, Remaining Performance Obligation, Amount | $ 3.2 |
Revenue Recognized Under Prev_3
Revenue Recognized Under Previous Guidance Accounting Pronouncements or Change in Accounting Principle (Statement of Operations) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Total revenue | $ 6,405 | $ 6,516 | $ 6,543 | ||||||||
Selling, general and administrative expenses | 1,005 | 923 | 904 | ||||||||
Costs and Expenses | (6,214) | (5,825) | (5,869) | ||||||||
Income from operations | $ 63 | $ 125 | $ (106) | $ 109 | $ 202 | $ 199 | $ 175 | $ 115 | 191 | 691 | 674 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 39 | 482 | 379 | ||||||||
Income tax expense | 73 | 242 | 92 | ||||||||
Income (loss) from continuing operations | (34) | 240 | 287 | ||||||||
Net income (loss) | (86) | 235 | 274 | ||||||||
Net income (loss) attributable to NCR | $ (60) | $ 72 | $ (157) | $ 8 | $ (56) | $ 106 | $ 90 | $ (17) | $ (88) | $ 232 | $ 270 |
Basic (in dollars per share) | $ (0.39) | $ 0.62 | $ (1.31) | $ 0.36 | $ (0.38) | $ 0.87 | $ 0.70 | $ (0.14) | $ (0.72) | $ 1.05 | $ 1.86 |
Diluted (in dollars per share) | (0.39) | 0.57 | (1.31) | 0.35 | (0.38) | 0.77 | 0.64 | (0.14) | (0.72) | 1.01 | 1.80 |
Basic (in dollars per share) | (0.51) | 0.61 | (1.33) | 0.07 | (0.46) | 0.87 | 0.74 | (0.14) | (1.16) | 1.01 | 1.76 |
Diluted (in dollars per share) | $ (0.51) | $ 0.56 | $ (1.33) | $ 0.06 | $ (0.46) | $ 0.77 | $ 0.67 | $ (0.14) | $ (1.16) | $ 0.97 | $ 1.71 |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Selling, general and administrative expenses | $ 1,006 | ||||||||||
Costs and Expenses | (6,199) | ||||||||||
Income from operations | 174 | ||||||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 22 | ||||||||||
Income tax expense | 69 | ||||||||||
Income (loss) from continuing operations | (47) | ||||||||||
Net income (loss) | (99) | ||||||||||
Net income (loss) attributable to NCR | $ (101) | ||||||||||
Basic (in dollars per share) | $ (0.83) | ||||||||||
Diluted (in dollars per share) | (0.83) | ||||||||||
Basic (in dollars per share) | (1.27) | ||||||||||
Diluted (in dollars per share) | $ (1.27) | ||||||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Selling, general and administrative expenses | $ 1 | ||||||||||
Costs and Expenses | (15) | ||||||||||
Income from operations | (17) | ||||||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | (17) | ||||||||||
Income tax expense | (4) | ||||||||||
Income (loss) from continuing operations | (13) | ||||||||||
Net income (loss) | (13) | ||||||||||
Net income (loss) attributable to NCR | $ (13) | ||||||||||
Basic (in dollars per share) | $ (0.11) | ||||||||||
Diluted (in dollars per share) | (0.11) | ||||||||||
Basic (in dollars per share) | (0.11) | ||||||||||
Diluted (in dollars per share) | $ (0.11) | ||||||||||
Product [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Total revenue | $ 2,341 | $ 2,579 | $ 2,737 | ||||||||
Cost of products | 1,988 | $ 2,021 | $ 2,099 | ||||||||
Product [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Total revenue | 2,309 | ||||||||||
Cost of products | 1,972 | ||||||||||
Product [Member] | Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Total revenue | (32) | ||||||||||
Cost of products | $ (16) |
Revenue Recognized Under Prev_4
Revenue Recognized Under Previous Guidance New Accounting Pronouncements or Change in Accounting Principle (Balance Sheet) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Accounts receivable, net | $ 1,356 | $ 1,270 |
Other current assets | 397 | 243 |
Assets, Current | 3,023 | 2,830 |
Deferred income taxes | 448 | 460 |
Other assets | 504 | 586 |
Assets | 7,761 | 7,654 |
Deferred service revenue and customer deposits | 461 | 458 |
Other current liabilities | 501 | 398 |
Liabilities, Current | 2,282 | 1,889 |
Liabilities | 6,489 | 6,107 |
Retained earnings | 606 | 857 |
Total NCR stockholders’ equity | 395 | 719 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 399 | 722 |
Liabilities and Equity | 7,761 | $ 7,654 |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Accounts receivable, net | 1,378 | |
Other current assets | 388 | |
Assets, Current | 3,036 | |
Deferred income taxes | 453 | |
Other assets | 490 | |
Assets | 7,765 | |
Deferred service revenue and customer deposits | 479 | |
Other current liabilities | 504 | |
Liabilities, Current | 2,303 | |
Liabilities | 6,510 | |
Retained earnings | 589 | |
Total NCR stockholders’ equity | 378 | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 382 | |
Liabilities and Equity | 7,765 | |
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Accounts receivable, net | 22 | |
Other current assets | (9) | |
Assets, Current | 13 | |
Deferred income taxes | 5 | |
Other assets | (14) | |
Assets | 4 | |
Deferred service revenue and customer deposits | 18 | |
Other current liabilities | 3 | |
Liabilities, Current | 21 | |
Liabilities | 21 | |
Retained earnings | (17) | |
Total NCR stockholders’ equity | (17) | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | (17) | |
Liabilities and Equity | $ 4 |
Business Combinations and Div_3
Business Combinations and Divestitures Schedule of Business Acquisitions, by Acquisition (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Business Acquisition [Line Items] | |||
Business Acquisition, Share Price | $ 5.05 | ||
Business Acquisition, Transaction Costs | $ 4 | ||
Goodwill | 2,692 | $ 2,741 | $ 2,727 |
Jet [Member] | |||
Business Acquisition [Line Items] | |||
Cash Acquired from Acquisition | 4 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 76 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 109 | ||
Goodwill | 96 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities | (16) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | (76) | ||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | $ 193 |
Business Combinations and Div_4
Business Combinations and Divestitures Divestitures (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Finite-lived Intangible Assets Acquired | $ 109 |
Customer Relationships [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Finite-lived Intangible Assets Acquired | $ 69 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 14 years |
Patented Technology [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Finite-lived Intangible Assets Acquired | $ 39 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 years |
Tradenames [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Finite-lived Intangible Assets Acquired | $ 1 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 1 year |
Business Combinations and Div_5
Business Combinations and Divestitures 2018 Acquisitions Pro Forma (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ||
Business Acquisition, Pro Forma Revenue | $ 6,468 | $ 6,592 |
Business Acquisition, Pro Forma Net Income (Loss) | (46) | 217 |
Business Acquisition Pro Forma Expenses Incremental Amortization Changes Attributable to Acquiree | 4 | 5 |
BusinessAcquisitionsProFormaExpensesTransactionsCosts | 4 | 4 |
BusinessAcquisitionProFormaExpensesIncrementalInterestChargesAttributabletoAcquiree | $ 7 | $ 7 |
Goodwill and Purchased Intang_3
Goodwill and Purchased Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Line Items] | |||
Impairment of Long-Lived Assets Held-for-use | $ 21 | ||
Impairment of Intangible Assets, Finite-Lived | 16 | ||
Goodwill [Roll Forward] | |||
Goodwill, Gross | 2,764 | $ 2,750 | |
Accumulated Impairment Losses | (23) | (23) | |
Goodwill | 2,741 | 2,727 | |
Additions | 107 | 0 | |
Impairment | (146) | 0 | |
Other | (10) | 14 | |
Goodwill, Gross | $ 2,861 | 2,861 | 2,764 |
Accumulated Impairment Losses | (169) | (169) | (23) |
Total | 2,692 | 2,741 | 2,727 |
Hardware Segment [Member] | |||
Goodwill [Roll Forward] | |||
Impairment | 146 | ||
Banking Segment [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, Gross | 1,721 | 1,715 | |
Accumulated Impairment Losses | (14) | (14) | |
Goodwill | 1,707 | 1,701 | |
Additions | 0 | 0 | |
Impairment | (87) | 0 | |
Other | (3) | 6 | |
Goodwill, Gross | 1,718 | 1,718 | 1,721 |
Accumulated Impairment Losses | (101) | (101) | (14) |
Total | 1,617 | 1,707 | 1,701 |
Retail Segment [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, Gross | 478 | 476 | |
Accumulated Impairment Losses | (5) | (5) | |
Goodwill | 473 | 471 | |
Additions | 94 | 0 | |
Impairment | (29) | 0 | |
Other | (1) | 2 | |
Goodwill, Gross | 571 | 571 | 478 |
Accumulated Impairment Losses | (34) | (34) | (5) |
Total | 537 | 473 | 471 |
Hospitality Segment [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, Gross | 377 | 372 | |
Accumulated Impairment Losses | (3) | (3) | |
Goodwill | 374 | 369 | |
Additions | 13 | 0 | |
Impairment | (20) | 0 | |
Other | (5) | 5 | |
Goodwill, Gross | 385 | 385 | 377 |
Accumulated Impairment Losses | (23) | (23) | (3) |
Total | 362 | 374 | 369 |
Other Segments [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, Gross | 188 | 187 | |
Accumulated Impairment Losses | (1) | (1) | |
Goodwill | 187 | 186 | |
Additions | 0 | 0 | |
Impairment | (10) | 0 | |
Other | (1) | 1 | |
Goodwill, Gross | 187 | 187 | 188 |
Accumulated Impairment Losses | (11) | (11) | (1) |
Total | $ 176 | $ 187 | $ 186 |
Goodwill and Purchased Intang_4
Goodwill and Purchased Intangible Assets - Schedule of Acquired Intangibles (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Goodwill, Impairment Loss | $ 146 | $ 0 | |
Finite-Lived Intangible Assets, Gross | $ 1,333 | 1,333 | 1,231 |
Accumulated Amortization | (738) | (738) | (653) |
Customer Relationships [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 726 | 726 | 659 |
Accumulated Amortization | (218) | (218) | (170) |
Intellectual property [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 443 | 443 | 410 |
Accumulated Amortization | (373) | $ (373) | (351) |
Customer Contracts [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 8 years | ||
Finite-Lived Intangible Assets, Gross | 89 | $ 89 | 89 |
Accumulated Amortization | (87) | (87) | (81) |
Tradenames [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 75 | 75 | 73 |
Accumulated Amortization | (60) | $ (60) | $ (51) |
Minimum [Member] | Customer Relationships [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
Minimum [Member] | Intellectual property [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 2 years | ||
Minimum [Member] | Tradenames [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 2 years | ||
Maximum [Member] | Customer Relationships [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 20 years | ||
Maximum [Member] | Intellectual property [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 8 years | ||
Maximum [Member] | Tradenames [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Hardware Segment [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Goodwill, Impairment Loss | $ (146) |
Goodwill and Purchased Intang_5
Goodwill and Purchased Intangible Assets - Amorization Expense (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Amortization of Intangible Assets | $ 85 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2019 | 88 |
2020 | 69 |
2021 | 60 |
2022 | 55 |
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | $ 53 |
Series A Preferred Stock (Detai
Series A Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Mar. 17, 2017 | Dec. 04, 2015 | |
Class of Stock [Line Items] | |||||
Series A preferred shares, shares issued | 800,000 | 900,000 | |||
Deemed dividend on preferred stock redemption | $ 0 | $ 58 | $ 0 | ||
Deemed dividend on modification of Series A convertible preferred stock | $ 0 | $ 4 | 0 | ||
Financial instruments subject to redemption, settlement terms, maximum number of shares | 29,000,000 | 27,500,000 | |||
Convertible Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Series A preferred shares, shares issued | 820,000 | ||||
Aggregate purchase price | $ 820 | ||||
Stated Value Of Preferred Shares Per Share | $ 1,000 | ||||
Direct Issuance Expenses | $ 26 | ||||
Dividends, Preferred Stock, Paid-in-kind | $ 46 | $ 45 | $ 47 | ||
Accrued Dividends | $ 3 | $ 3 | |||
Secondary offering by the preferred shareholders | 342,000 | ||||
Redeemed Shares of Preferred stock | 90,000 | ||||
Repurchase price per share of common stock upon conversion | $ 48.47 | ||||
Dividend Rate for preferred shares | 5.50% | ||||
Conversion price per preferred share | $ 30 | ||||
Conversion rate per preferred share | 33.333 |
Debt Obligations (Details)
Debt Obligations (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Short-term borrowings | $ 185 | $ 52 |
Long-term debt | 2,980 | 2,939 |
Deferred Financing Fees | 18 | 23 |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 675 | $ 759 |
Long-term Debt, Weighted Average Interest Rate, at Point in Time | 4.51% | 3.21% |
Other Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 3 | $ 3 |
Long-term Debt, Weighted Average Interest Rate, at Point in Time | 0.59% | 1.62% |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 120 | $ 0 |
Long-term Debt, Weighted Average Interest Rate, at Point in Time | 4.49% | |
5% Notes Due 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 600 | 600 |
4.625% Notes Due 2021 [Member] [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 500 | 500 |
5.875% Notes due 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 400 | 400 |
6.375% Notes due 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 700 | 700 |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Current Maturities | $ 84 | $ 51 |
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 4.51% | 3.21% |
Trade Receivables Securitization Facility [Member] | ||
Debt Instrument [Line Items] | ||
Short-term borrowings | $ 100 | $ 0 |
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 3.37% | |
Other Debt [Member] | ||
Debt Instrument [Line Items] | ||
Short-term borrowings | $ 1 | $ 1 |
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 4.92% | 3.71% |
Debt Obligations Senior Secured
Debt Obligations Senior Secured Credit Facility (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Debt Instrument [Line Items] | |
Long-term Debt | $ 3,183 |
Letters of Credit Outstanding, Amount | $ 0 |
Debt Instrument Covenant Maximum Consolidated Leverage Ratio | 4.10 |
Available Additional Amount of Incremental Term Loan or Incremental Revolving Commitment | $ 150 |
Period One [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Covenant, Maximum Spread on Consolidated Leverage Ratio | 0.50 |
Debt Instrument Covenant Interest Coverage Ratio | 3.50 |
Period Two [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument Covenant Consolidated Leverage Ratio | 4 |
Period Three [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument Covenant Consolidated Leverage Ratio | 3.75 |
Term Loan [Member] | |
Debt Instrument [Line Items] | |
Long-term Debt | $ 759 |
Secured Debt [Member] | Revolving [Member] | |
Debt Instrument [Line Items] | |
Secured Credit Facility Maximum Borrowing Amount | 1,100 |
Secured Debt [Member] | Revolving Foreign [Member] | |
Debt Instrument [Line Items] | |
Secured Credit Facility Maximum Borrowing Amount | $ 400 |
Federal Funds Rate [Member] | Secured Debt [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Basis Spread on Variable Rate | 0.50% |
Base Rate [Member] | Secured Debt [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Basis Spread on Variable Rate | 1.00% |
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Secured Debt [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Margin for Base Rate Loans | 2.25% |
Maximum [Member] | EURIBOR [Member] | Secured Debt [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Margin for Base Rate Loans | 1.25% |
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Secured Debt [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Margin for Base Rate Loans | 1.25% |
Minimum [Member] | EURIBOR [Member] | Secured Debt [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Margin for Base Rate Loans | 0.25% |
Quarterly installments beginning September 30, 2016 [Member] | Secured Debt [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Periodic Payment | $ 11 |
Quarterly installments beginning September 30, 2018 [Domain] | Secured Debt [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Periodic Payment | 17 |
Quarterly installments beginning September 30, 2017 [Member] [Member] | Secured Debt [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Periodic Payment | $ 23 |
Debt Obligations Senior Unsecur
Debt Obligations Senior Unsecured Notes (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 19, 2013 | Dec. 18, 2012 | Sep. 17, 2012 | |
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 3,183 | ||||
Long-term debt | 2,980 | $ 2,939 | |||
5% Notes Due 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 600 | ||||
Debt instrument stated percentage | 5.00% | ||||
Percentage of Principle Amount Notes Were Sold At | 100.00% | ||||
Long-term debt | $ 600 | 600 | |||
5% Notes Due 2022 [Member] | Twelve Month Period Commencing On July 15, 2017 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 102.50% | ||||
5% Notes Due 2022 [Member] | Twelve Month Period Commencing On July 15, 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 101.667% | ||||
5% Notes Due 2022 [Member] | Twelve Month Period Commencing On July 15, 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 100.833% | ||||
5% Notes Due 2022 [Member] | Twelve Month Period Commencing On July 15, 2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 100.00% | ||||
4.625% Notes Due 2021 [Member] [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 500 | ||||
Debt instrument stated percentage | 4.625% | ||||
Percentage of Principle Amount Notes Were Sold At | 100.00% | ||||
Long-term debt | $ 500 | 500 | |||
4.625% Notes Due 2021 [Member] [Member] | Twelve Month Period Commencing On February 15, 2017 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 102.313% | ||||
4.625% Notes Due 2021 [Member] [Member] | Twelve Month Period Commencing On February 15, 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 101.156% | ||||
4.625% Notes Due 2021 [Member] [Member] | Twelve Month Period Commencing On February 15, 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 100.00% | ||||
5.875% Notes due 2021 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 400 | ||||
Debt instrument stated percentage | 5.875% | ||||
Percentage of Principle Amount Notes Were Sold At | 100.00% | ||||
Long-term debt | $ 400 | 400 | |||
5.875% Notes due 2021 [Member] | Twelve Month Period Commencing On December 15, 2017 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 102.938% | ||||
5.875% Notes due 2021 [Member] | Twelve Month Period Commencing On December 15, 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 101.469% | ||||
5.875% Notes due 2021 [Member] | Twelve Month Period Commencing On December 15, 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 100.00% | ||||
6.375% Notes due 2023 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt | $ 700 | ||||
Debt instrument stated percentage | 6.375% | ||||
Percentage of Principle Amount Notes Were Sold At | 100.00% | ||||
Long-term debt | $ 700 | $ 700 | |||
6.375% Notes due 2023 [Member] | Twelve Month Period Commencing On December 15, 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 103.188% | ||||
6.375% Notes due 2023 [Member] | Twelve Month Period Commencing On December 15, 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 102.125% | ||||
6.375% Notes due 2023 [Member] | Twelve Month Period Commencing On December 15, 2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 101.063% | ||||
6.375% Notes due 2023 [Member] | Prior To December 15, 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument Redemption Price As Percentage Of Principle Amount | 100.00% |
Debt Obligations Debt Obligat_2
Debt Obligations Debt Obligations Receivables Securitization Facility (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | ||
Trade Receivables Securitization Facility, Maximum Borrowing Base | $ 200 | |
Short-term borrowings | 185 | $ 52 |
Trade Receivables Securitization Facility, Collateral At Period End | $ 526 | 491 |
Federal Funds Rate [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |
Trade Receivables Securitization Facility [Member] | ||
Debt Instrument [Line Items] | ||
Short-term borrowings | $ 100 | $ 0 |
Debt Obligations Maturities of
Debt Obligations Maturities of Long Term Debt (Details) $ in Millions | Dec. 31, 2018USD ($) |
Maturities of Long Term Debt Disclosure [Abstract] | |
Long-term Debt | $ 3,183 |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 85 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 190 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 1,605 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 600 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 700 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | $ 3 |
Debt Obligations Fair Value of
Debt Obligations Fair Value of Debt (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Disclosure [Abstract] | ||
Debt Instrument, Fair Value Disclosure | $ 3,110 | $ 3,070 |
Income Taxes Income Taxes - US
Income Taxes Income Taxes - US Tax Reform (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
US Tax Reform [Line Items] | |||
US Tax Reform, Provisional Tax Expense | $ (37) | $ (130) | $ 0 |
Impact from remeasurement of net US deferred income taxes [Member] | |||
US Tax Reform [Line Items] | |||
US Tax Reform, Provisional Tax Expense | (43) | (94) | |
Impact from repatriation tax on undistributed foreign earnings [Member] | |||
US Tax Reform [Line Items] | |||
US Tax Reform, Provisional Tax Expense | $ (36) | ||
Valuation allowance on Foreign Tax Credits [Member] | |||
US Tax Reform [Line Items] | |||
US Tax Reform, Provisional Tax Expense | $ (80) |
Income Taxes Income Taxes - Err
Income Taxes Income Taxes - Error Correction (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Income tax expense (benefit) | $ 73 | $ 242 | $ 92 |
Out of period adjustments, net [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Income tax expense (benefit) | 2 | ||
Error in calculation of deferred tax liabilities associated with software capitalization [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Income tax expense (benefit) | 13 | ||
Write-off of income tax assets related to expired foreign tax credits [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Income tax expense (benefit) | $ 11 |
Income Taxes - Income from Cont
Income Taxes - Income from Continuing Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
(Loss) Income Before Income Taxes [Abstract] | |||
United States | $ (262) | $ 149 | $ 35 |
Foreign | 301 | 333 | 344 |
Income (loss) from continuing operations before income taxes | $ 39 | $ 482 | $ 379 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax (Benefit) Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current | |||
Federal | $ 18 | $ 14 | $ 18 |
State | 0 | 2 | 4 |
Foreign | 42 | 54 | 60 |
Deferred | |||
Federal | (2) | 178 | 12 |
State | 1 | (3) | 1 |
Foreign | 14 | (3) | (3) |
Total income tax expense (benefit) | $ 73 | $ 242 | $ 92 |
Income Taxes - Income Tax Recon
Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Income tax expense (benefit) at the U.S. federal tax rate of 35% | $ 8 | $ 169 | $ 133 |
Foreign income tax differential | 22 | (38) | (26) |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | 2 | (1) | 3 |
U.S. permanent book/tax differences | 0 | 1 | 1 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Meals and Entertainment, Amount | 2 | 2 | 1 |
Income Tax Reconciliation, Cash Surrender Value | 0 | 0 | (1) |
Effective Income Tax Rate Reconciliation, Executive Compensation | 4 | 1 | 1 |
Employee Benefits and Share-based Compensation | 3 | (3) | 3 |
Effective Income Tax Rate Reconciliation, Branch Status Change | (9) | 0 | 0 |
Goodwill impairment | 30 | 0 | 0 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Research and Development, Amount | (6) | (4) | (4) |
Effective Income Tax Rate Reconciliation, Deduction, Amount | 0 | (9) | (7) |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | 16 | 0 | 0 |
US Tax Reform, Provisional Tax Expense | 37 | 130 | 0 |
Change in liability for unrecognized tax benefits | (23) | (2) | (12) |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | (11) | 0 | 0 |
Other, net | (2) | (4) | 0 |
Total income tax expense (benefit) | $ 73 | $ 242 | $ 92 |
Income Taxes - Deferred Taxes (
Income Taxes - Deferred Taxes (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred income tax assets | ||
Employee pensions and other benefits | $ 223 | $ 230 |
Other balance sheet reserves and allowances | 141 | 185 |
Tax loss and credit carryforwards | 682 | 525 |
Capitalized research and development | 53 | 50 |
Property, plant and equipment | 11 | 6 |
Other | 38 | 27 |
Total deferred income tax assets | 1,148 | 1,023 |
Valuation allowance | (485) | (415) |
Net deferred income tax assets | 663 | 608 |
Deferred income tax liabilities | ||
Intangible Assets | 151 | 129 |
Capitalized software | 78 | 27 |
Other | 7 | 16 |
Total deferred income tax liabilities | 236 | 172 |
Total net deferred income tax assets | 427 | $ 436 |
U.S. federal and foreign tax attribute carryforwards | 1,600 | |
United States [Member] | ||
Deferred income tax liabilities | ||
Tax credit carryforward, amount | 301 | |
Tax credit carryforward, not subject to expiration | 10 | |
Tax credit carryforward, expires in years 2014 through 2032 | $ 291 |
Income Taxes - Unrecognized Tax
Income Taxes - Unrecognized Tax Benefit (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross unrecognized tax benefits - January 1 | $ 196 | $ 183 | $ 209 |
Increases related to tax positions from prior years | 9 | 3 | 3 |
Decreases related to tax positions from prior years | (50) | (1) | (34) |
Increases related to tax provisions taken during the current year | 9 | 23 | 23 |
Settlements with tax authorities | (45) | (4) | (6) |
Lapses of statutes of limitation | (9) | (8) | (12) |
Total Gross unrecognized tax benefits - December 31 | 110 | 196 | 183 |
Total amount of gross unrecognized tax benefits that would affect NCR's effective tax rate if realized | 84 | ||
Recognized interest and penalties expense (benefit) associated with uncertain tax positions | (9) | (2) | $ 0 |
Interest and penalties accrued associated with uncertain tax positions | 33 | $ 45 | |
Undistributed earnings of foreign subsidiaries | 2,700 | ||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries | 176 | ||
Minimum [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, upper bound | 5 | ||
Maximum [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, upper bound | $ 10 |
Employee Stock Compensation P_3
Employee Stock Compensation Plans - Allocated Compensation, Assumptions and Shares Available (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted Stock or Unit Expense | $ 65 | $ 73 | $ 61 |
Employee Stock Ownership Plan (ESOP), Compensation Expense | 4 | 4 | 0 |
Stock or Unit Option Plan Expense | 4 | 0 | 0 |
Total stock-based compensation (pre-tax) | 73 | 77 | 61 |
Tax Benefit | (10) | (22) | (18) |
Total stock-based compensation (net of tax) | $ 63 | $ 55 | $ 43 |
Stock Incentive Plan, 2006 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares authorized (in shares) | 22 |
Employee Stock Compensation P_4
Employee Stock Compensation Plans - Restricted Stock and Restricted Stock Units (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 34.88% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years 9 months 18 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.50% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 9.80 | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Unvested shares, Beginning balance, Number of Shares (in shares) | 7,158 | ||
Shares granted, Number of Shares (in shares) | 3,440 | ||
Shares vested, Number of Shares (in shares) | (2,980) | ||
Shares forfeited, Number of Shares (in shares) | (1,652) | ||
Unvested shares, Ending balance, Number of Shares (in shares) | 5,966 | 7,158 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Unvested shares, Beginning balance, Weighted Average Grant-Date Fair Value per Share (in dollars per share) | $ 29.78 | ||
Shares granted, Weighted Average Grant-Date Fair Value per Share (in dollars per share) | 26.25 | $ 46.95 | $ 20.45 |
Shares vested, Weighted Average Grant-Date Fair Value per Share (in dollars per share) | 27.45 | ||
Shares forfeited, Weighted Average Grant-Date Fair Value per Share (in dollars per share) | 30.58 | ||
Unvested shares, Ending balance, Weighted Average Grant-Date Fair Value per Share (in dollars per share) | $ 28.69 | $ 29.78 | |
Total intrinsic value of shares vested and distributed | $ 90 | $ 87 | $ 42 |
Total unrecognized compensation | $ 79 | ||
Total unrecognized compensation cost, period of recognition | 1 year 1 month 6 days | ||
Restricted Stock, Service-based [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Shares granted, Number of Shares (in shares) | 2,168 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Shares granted, Weighted Average Grant-Date Fair Value per Share (in dollars per share) | $ 31.12 | ||
Restricted Stock, Performance-based [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award requisite service period | 12 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Shares granted, Number of Shares (in shares) | 1,272 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Shares granted, Weighted Average Grant-Date Fair Value per Share (in dollars per share) | $ 17.97 | ||
Minimum [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 48 years |
Employee Stock Compensation P_5
Employee Stock Compensation Plans - Other Share-based Plans (Details) - Employee Stock [Member] - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Employees purchased (in shares) | 0.7 | 0.5 | 0.3 |
Employees purchased | $ 17 | $ 15 | $ 7 |
Shares authorized (in shares) | 4 | ||
Shares remain unissued (in shares) | 9.7 |
Employee Stock Compensation P_6
Employee Stock Compensation Plans - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 9.80 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.50% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 34.88% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years 9 months 18 days | ||
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Outstanding, Beginning balance, Shares Under Option (in shares) | 475 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 2,869 | ||
Vested, Shares Under Option (in shares) | (277) | ||
Outstanding, Ending balance, Shares Under Option (in shares) | 2,606 | 475 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | 461 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |||
Outstanding, Beginning balance, Weighted Average Exercise Price per Share (in dollars per share) | $ 16.70 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | 30.59 | ||
Vested, Weighted Average Exercise Price per Share (in dollars per share) | 17.75 | ||
Outstanding, Ending balance, Weighted Average Exercise Price per Share (in dollars per share) | 29.08 | $ 16.70 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ 32.57 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Outstanding, Weighted Average Remaining Contratual Term (in years) | 6 years 3 days | ||
Outstanding, Aggregate Intrinsic Value | $ 1,560 | ||
Exercisable, Shares Under Option (in shares) | 204 | ||
Exercisable, Weighted Average Exercise Price per Share (in dollars per share) | $ 15.77 | ||
Exercisable, Weighted Average Remaining Contractual Term (in years) | 1 year 6 months 25 days | ||
Exercisable, Aggregate Intrinsic Value | $ 1,560 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract] | |||
Fully vested and expected to vest, Shares Under Option (in shares) | 2,402 | ||
Fully vested and expected to vest, Weighted Average Exercise Price per Share (in dollars per share) | $ 30.21 | ||
Fully vested and expected to vest, Weighted Average Remaining Contractual Term (in years) | 6 years 4 months 20 days | ||
Fully vested and expected to vest, Aggregate Intrinsic Value | $ 0 | ||
Total intrinsic value of all options exercised | 4,000 | $ 3,000 | $ 6,000 |
Cash received from option exercises | 4,000 | 2,000 | 8,000 |
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options | $ 1,000 | $ 1,000 | $ 2,000 |
Stock Options [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract] | |||
Vesting period | 1 year | ||
Stock Options [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract] | |||
Vesting period | 10 years |
Employee Benefit Plans - Change
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | $ (40) | $ (34) | |
Amounts recognized in the Consolidated Balance Sheets | |||
Noncurrent assets | 140 | $ 118 | |
Pension Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation as of January 1 | 3,223 | 3,357 | |
Net service cost | 7 | 8 | 7 |
Interest cost | 81 | 91 | 118 |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 4 | 0 | |
Actuarial loss | (232) | 164 | |
Benefits paid | (185) | (502) | |
Plan participant contributions | 1 | 1 | |
Currency translation adjustments | (44) | 104 | |
Benefit obligation as of December 31 | 2,855 | 3,223 | 3,357 |
Accumulated benefit obligation as of December 31 | 2,843 | 3,212 | |
Amounts recognized in the Consolidated Balance Sheets | |||
Defined Benefit Plan, Benefit Obligation | (633) | (693) | |
Noncurrent assets | 140 | 118 | |
Current liabilities | (14) | (13) | |
Noncurrent liabilities | (759) | (798) | |
Net amounts recognized | (633) | (693) | |
Prior service cost | 21 | 18 | |
Total | 21 | 18 | |
Amounts recognized in the accumulated other comprehensive loss | |||
Pension plans with accumulated benefit obligations in excess of plan assets, projected benefit obligation | 2,016 | 2,229 | |
Pension plans with accumulated benefit obligations in excess of plan assets, accumulated benefit obligation | 2,012 | 2,223 | |
Pension plans with accumulated benefit obligations in excess of plan assets, fair value of plan assets | 1,271 | 1,446 | |
U.S. Pension Benefits | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation as of January 1 | 1,950 | 2,185 | |
Net service cost | 0 | 0 | 0 |
Interest cost | 61 | 71 | 90 |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 0 | 0 | |
Actuarial loss | (149) | 121 | |
Benefits paid | (99) | (427) | |
Plan participant contributions | 0 | 0 | |
Currency translation adjustments | 0 | 0 | |
Benefit obligation as of December 31 | 1,763 | 1,950 | 2,185 |
Accumulated benefit obligation as of December 31 | 1,763 | 1,950 | |
Amounts recognized in the Consolidated Balance Sheets | |||
Defined Benefit Plan, Benefit Obligation | (494) | (506) | |
Noncurrent assets | 0 | 0 | |
Current liabilities | 0 | 0 | |
Noncurrent liabilities | (494) | (506) | |
Net amounts recognized | (494) | (506) | |
Prior service cost | 0 | 0 | |
Total | 0 | 0 | |
Foreign Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation as of January 1 | 1,273 | 1,172 | |
Net service cost | 7 | 8 | 7 |
Interest cost | 20 | 20 | 28 |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 4 | 0 | |
Actuarial loss | (83) | 43 | |
Benefits paid | (86) | (75) | |
Plan participant contributions | 1 | 1 | |
Currency translation adjustments | (44) | 104 | |
Benefit obligation as of December 31 | 1,092 | 1,273 | 1,172 |
Accumulated benefit obligation as of December 31 | 1,080 | 1,262 | |
Amounts recognized in the Consolidated Balance Sheets | |||
Defined Benefit Plan, Benefit Obligation | (139) | (187) | |
Noncurrent assets | 140 | 118 | |
Current liabilities | (14) | (13) | |
Noncurrent liabilities | (265) | (292) | |
Net amounts recognized | (139) | (187) | |
Prior service cost | 21 | 18 | |
Total | 21 | 18 | |
Postretirement Benefits [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation as of January 1 | 21 | 25 | |
Interest cost | 0 | 1 | 1 |
Actuarial loss | (3) | (3) | |
Benefits paid | (1) | (2) | |
Plan participant contributions | 1 | 0 | |
Benefit obligation as of December 31 | 18 | 21 | 25 |
Amounts recognized in the Consolidated Balance Sheets | |||
Defined Benefit Plan, Benefit Obligation | (18) | (21) | |
Current liabilities | (2) | (2) | |
Noncurrent liabilities | (16) | (19) | |
Net amounts recognized | (18) | (21) | |
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | 7 | 11 | |
Prior service cost | (8) | (13) | |
Total | (1) | (2) | |
Postemployment Benefit Plans Defined Benefit [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation as of January 1 | 142 | 127 | |
Net service cost | 43 | 34 | 16 |
Interest cost | 3 | 2 | 3 |
Actuarial loss | 139 | 142 | |
Benefits paid | (6) | (9) | |
Currency translation adjustments | (3) | 4 | |
Benefit obligation as of December 31 | 142 | $ 127 | |
Amounts recognized in the Consolidated Balance Sheets | |||
Defined Benefit Plan, Benefit Obligation | (139) | (142) | |
Current liabilities | (37) | (28) | |
Noncurrent liabilities | (102) | (114) | |
Net amounts recognized | (139) | (142) | |
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | (28) | (20) | |
Prior service cost | (6) | (11) | |
Total | $ (34) | $ (31) |
Employee Benefit Plans - Chan_2
Employee Benefit Plans - Change in Plan Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Postretirement Benefits Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | $ (18) | $ (21) | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (1) | (2) | |
Plan participant contributions | 1 | 0 | |
Liability, Defined Benefit Plan, Current | 2 | 2 | |
Liability, Defined Benefit Plan, Noncurrent | 16 | 19 | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | (18) | (21) | |
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | 7 | 11 | |
Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | (139) | (187) | |
Defined Benefit Plan, Plan Assets, Amount | 953 | 1,086 | $ 978 |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | (34) | 80 | |
Company contributions | 24 | 25 | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (86) | (75) | |
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) | (38) | 77 | |
Plan participant contributions | 1 | 1 | |
Liability, Defined Benefit Plan, Current | 14 | 13 | |
Liability, Defined Benefit Plan, Noncurrent | 265 | 292 | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | (139) | (187) | |
U.S. Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | (494) | (506) | |
Defined Benefit Plan, Plan Assets, Amount | 1,269 | 1,444 | 1,722 |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | (76) | 149 | |
Company contributions | 0 | 0 | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (99) | (427) | |
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) | 0 | 0 | |
Plan participant contributions | 0 | 0 | |
Liability, Defined Benefit Plan, Current | 0 | 0 | |
Liability, Defined Benefit Plan, Noncurrent | 494 | 506 | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | (494) | (506) | |
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | (633) | (693) | |
Defined Benefit Plan, Plan Assets, Amount | 2,222 | 2,530 | $ 2,700 |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | (110) | 229 | |
Company contributions | 24 | 25 | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (185) | (502) | |
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) | (38) | 77 | |
Plan participant contributions | 1 | 1 | |
Liability, Defined Benefit Plan, Current | 14 | 13 | |
Liability, Defined Benefit Plan, Noncurrent | 759 | 798 | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position | $ (633) | $ (693) |
Employee Benefit Plans - Fair V
Employee Benefit Plans - Fair Value of Plan Assets (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
U.S. Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | $ (494) | $ (506) | |
Defined Benefit Plan, Plan Assets, Amount | 1,269 | 1,444 | $ 1,722 |
U.S. Pension Benefits | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 39 | 53 | |
U.S. Pension Benefits | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 1,010 | 1,119 | |
U.S. Pension Benefits | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Equity Securities, Common Stock [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 1 | |
U.S. Pension Benefits | Equity Securities, Common Stock [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Equity Securities, Common Stock [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 1 | |
U.S. Pension Benefits | Equity Securities, Common Stock [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 247 | 223 | |
U.S. Pension Benefits | Government Debt Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Government Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 247 | 223 | |
U.S. Pension Benefits | Government Debt Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 761 | 895 | |
U.S. Pension Benefits | Corporate Debt Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Corporate Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 761 | 895 | |
U.S. Pension Benefits | Corporate Debt Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 13 | 24 | |
U.S. Pension Benefits | Money Market Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Money Market Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 2 | 0 | |
U.S. Pension Benefits | Money Market Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Equities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Equities [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Equities [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 174 | 207 | |
U.S. Pension Benefits | Common and Commingled Trusts, Bonds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Short Term Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 27 | 31 | |
U.S. Pension Benefits | Common and Commingled Trusts, Short Term Investments [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Short Term Investments [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Short Term Investments [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Balanced [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Balanced [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Balanced [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Common and Commingled Trusts, Balanced [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Partnership And Joint Venture Interests, Real Estate [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 4 | 5 | |
U.S. Pension Benefits | Partnership And Joint Venture Interests, Real Estate [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Partnership And Joint Venture Interests, Real Estate [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Partnership And Joint Venture Interests, Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Partnership And Joint Venture Interests, Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 4 | 5 | |
U.S. Pension Benefits | Partnership And Joint Venture Interests, Other [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Partnership And Joint Venture Interests, Other [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Partnership And Joint Venture Interests, Other [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 39 | 53 | |
U.S. Pension Benefits | Mutual Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 39 | 53 | |
U.S. Pension Benefits | Mutual Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Mutual Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Hedge Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Hedge Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Hedge Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Hedge Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Insurance Products [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Insurance Products [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Insurance Products [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Insurance Products [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Real Estate And Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Real Estate And Other [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Real Estate And Other [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Real Estate And Other [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 220 | 272 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Equity Securities, Common Stock [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 11 | 24 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Common and Commingled Trusts, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Common and Commingled Trusts, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 174 | 207 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Common and Commingled Trusts, Short Term Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 27 | 31 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Common and Commingled Trusts, Balanced [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Partnership And Joint Venture Interests, Real Estate [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 4 | 5 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Partnership And Joint Venture Interests, Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 4 | 5 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Hedge Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Insurance Products [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
U.S. Pension Benefits | Not Subject to Leveling [Member] | Real Estate And Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | (139) | (187) | |
Defined Benefit Plan, Plan Assets, Amount | 953 | 1,086 | 978 |
Foreign Plan [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 44 | 56 | |
Foreign Plan [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 109 | 199 | |
Foreign Plan [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 129 | 131 | $ 124 |
Foreign Plan [Member] | Equity Securities, Common Stock [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 44 | 56 | |
Foreign Plan [Member] | Equity Securities, Common Stock [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 44 | 56 | |
Foreign Plan [Member] | Equity Securities, Common Stock [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Equity Securities, Common Stock [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 49 | |
Foreign Plan [Member] | Government Debt Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Government Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 49 | |
Foreign Plan [Member] | Government Debt Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 100 | 141 | |
Foreign Plan [Member] | Corporate Debt Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Corporate Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 100 | 139 | |
Foreign Plan [Member] | Corporate Debt Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 2 | |
Foreign Plan [Member] | Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 8 | 15 | |
Foreign Plan [Member] | Money Market Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Money Market Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 8 | 10 | |
Foreign Plan [Member] | Money Market Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 150 | 182 | |
Foreign Plan [Member] | Common and Commingled Trusts, Equities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Equities [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Equities [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 405 | 421 | |
Foreign Plan [Member] | Common and Commingled Trusts, Bonds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Short Term Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 40 | 24 | |
Foreign Plan [Member] | Common and Commingled Trusts, Short Term Investments [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Short Term Investments [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Short Term Investments [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Balanced [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 76 | 68 | |
Foreign Plan [Member] | Common and Commingled Trusts, Balanced [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Balanced [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Common and Commingled Trusts, Balanced [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Partnership And Joint Venture Interests, Real Estate [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Partnership And Joint Venture Interests, Real Estate [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Partnership And Joint Venture Interests, Real Estate [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Partnership And Joint Venture Interests, Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Partnership And Joint Venture Interests, Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Partnership And Joint Venture Interests, Other [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Partnership And Joint Venture Interests, Other [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Partnership And Joint Venture Interests, Other [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Mutual Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Mutual Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Mutual Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Hedge Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Hedge Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Hedge Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Hedge Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Insurance Products [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 1 | 1 | |
Foreign Plan [Member] | Insurance Products [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Insurance Products [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 1 | 1 | |
Foreign Plan [Member] | Insurance Products [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Real Estate And Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 129 | 129 | |
Foreign Plan [Member] | Real Estate And Other [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Real Estate And Other [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Real Estate And Other [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 129 | 129 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 671 | 700 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Equity Securities, Common Stock [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 5 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Common and Commingled Trusts, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 150 | 182 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Common and Commingled Trusts, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 405 | 421 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Common and Commingled Trusts, Short Term Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 40 | 24 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Common and Commingled Trusts, Balanced [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 76 | 68 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Partnership And Joint Venture Interests, Real Estate [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Partnership And Joint Venture Interests, Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Hedge Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Insurance Products [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Foreign Plan [Member] | Not Subject to Leveling [Member] | Real Estate And Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | $ 0 | $ 0 |
Employee Benefit Plans - Net Pe
Employee Benefit Plans - Net Periodic Benefit (Income) Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Postemployment Benefits [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Net service cost | $ 43 | $ 34 | $ 16 |
Interest cost | 3 | 2 | 3 |
Amortization of prior service cost | (5) | (6) | (6) |
Actuarial loss (gain) | (1) | (6) | (7) |
Defined Benefit Plan Net Periodic Benefit Costs, Subtotal | 40 | 24 | 6 |
Defined Benefit Plan, Other Cost (Credit) | 0 | 0 | 4 |
Net periodic benefit cost | 40 | 24 | 10 |
Postretirement Benefits [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Interest cost | 0 | 1 | 1 |
Amortization of prior service cost | (5) | (6) | (14) |
Actuarial loss (gain) | 1 | 2 | 2 |
Net periodic benefit cost | (4) | (3) | (11) |
Pension Plan [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Net service cost | 7 | 8 | 7 |
Interest cost | 81 | 91 | 118 |
Expected return on plan assets | (75) | (92) | (108) |
Amortization of prior service cost | 1 | 1 | 1 |
Actuarial loss (gain) | (45) | 28 | 85 |
Net periodic benefit cost | (31) | 36 | 103 |
U.S. Pension Benefits [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Net service cost | 0 | 0 | 0 |
Interest cost | 61 | 71 | 90 |
Expected return on plan assets | (43) | (57) | (72) |
Amortization of prior service cost | 0 | 0 | 0 |
Actuarial loss (gain) | (29) | 28 | 16 |
Net periodic benefit cost | (11) | 42 | 34 |
International Pension Benefits [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Net service cost | 7 | 8 | 7 |
Interest cost | 20 | 20 | 28 |
Expected return on plan assets | (32) | (35) | (36) |
Amortization of prior service cost | 1 | 1 | 1 |
Actuarial loss (gain) | (16) | 0 | 69 |
Net periodic benefit cost | (20) | $ (6) | $ 69 |
Voluntary lump sum payment [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Benefits Paid | 130 | ||
Voluntary lump sum payment [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Actuarial loss (gain) | (25) | ||
Single premium group annuity contract [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Benefits Paid | $ 190 |
Employee Benefit Plans - Assump
Employee Benefit Plans - Assumptions, Market-Related Value, and Unrecognized Loss (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate, Service Cost | 1.40% | 1.40% | 2.60% |
Defined Benefit Plan, Assumptions used Calculating Net Periodic Benefit Cost, Discount Rate, Interest Cost | 1.60% | 1.60% | 2.60% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 2.10% | 1.90% | |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 1.00% | 0.90% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 3.00% | 3.50% | 3.80% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 0.90% | 0.90% | 1.30% |
U.S. Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions used Calculating Net Periodic Benefit Cost, Discount Rate, Interest Cost | 3.20% | 3.40% | 4.30% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.20% | 3.60% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 3.10% | 3.50% | 4.30% |
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate, Service Cost | 1.40% | 1.40% | 2.60% |
Defined Benefit Plan, Assumptions used Calculating Net Periodic Benefit Cost, Discount Rate, Interest Cost | 2.60% | 2.80% | 3.70% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.40% | 2.90% | |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 1.00% | 0.90% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 3.10% | 3.50% | 4.10% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 0.90% | 0.90% | 1.30% |
Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.70% | 3.10% | 3.20% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.10% | 3.20% | 3.30% |
Postemployment Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 2.40% | 2.30% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 2.30% | 2.00% | 2.20% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 1.90% | 1.90% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 1.90% | 1.80% | 2.10% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Involuntary Turnover Rate | 4.30% | 4.80% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Involuntary Turnover Rate | 4.80% | 4.80% | 4.80% |
Before Age 65 [Member] | Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year | 7.10% | 6.60% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | 5.00% | |
After Age 65 [Member] | Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year | 6.10% | 5.90% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | 5.00% |
Employee Benefit Plans - Actual
Employee Benefit Plans - Actual and Target Allocations (Details) | Dec. 31, 2018 | Dec. 31, 2017 |
Foreign Plan [Member] | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 100.00% | 100.00% |
Foreign Plan [Member] | Equity Securities [Member] | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 20.00% | 22.00% |
Foreign Plan [Member] | Debt Securities [Member] | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 57.00% | 58.00% |
Foreign Plan [Member] | Real Estate [Member] | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 14.00% | 12.00% |
Foreign Plan [Member] | Other [Member] | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 9.00% | 8.00% |
U.S. Pension Benefits | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 100.00% | 100.00% |
U.S. Pension Benefits | Equity Securities [Member] | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 0.00% | 0.00% |
U.S. Pension Benefits | Debt Securities [Member] | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 98.00% | 98.00% |
U.S. Pension Benefits | Real Estate [Member] | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 1.00% | 1.00% |
U.S. Pension Benefits | Other [Member] | ||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | ||
Allocation of plan asset, percentage | 1.00% | 1.00% |
Minimum [Member] | Foreign Plan [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 12.00% | |
Minimum [Member] | Foreign Plan [Member] | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 54.00% | |
Minimum [Member] | Foreign Plan [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 6.00% | |
Minimum [Member] | Foreign Plan [Member] | Other [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 4.00% | |
Minimum [Member] | U.S. Pension Benefits | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 0.00% | |
Minimum [Member] | U.S. Pension Benefits | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 95.00% | |
Minimum [Member] | U.S. Pension Benefits | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 0.00% | |
Minimum [Member] | U.S. Pension Benefits | Other [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 0.00% | |
Maximum [Member] | Foreign Plan [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 27.00% | |
Maximum [Member] | Foreign Plan [Member] | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 72.00% | |
Maximum [Member] | Foreign Plan [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 14.00% | |
Maximum [Member] | Foreign Plan [Member] | Other [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 9.00% | |
Maximum [Member] | U.S. Pension Benefits | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 0.00% | |
Maximum [Member] | U.S. Pension Benefits | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 100.00% | |
Maximum [Member] | U.S. Pension Benefits | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 2.00% | |
Maximum [Member] | U.S. Pension Benefits | Other [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 3.00% |
Employee Benefit Plans - Unobse
Employee Benefit Plans - Unobservable Input Reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Foreign Plan [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets as of January 1 | $ 1,086 | $ 978 |
Fair value of plan assets as of December 31 | 953 | 1,086 |
Foreign Plan [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets as of January 1 | 131 | 124 |
Realized and unrealized gains and losses, net | 0 | 7 |
Purchases, sales and settlements, net | 0 | 0 |
Transfers, net | (2) | 0 |
Fair value of plan assets as of December 31 | 129 | 131 |
U.S. Pension Benefits | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets as of January 1 | 1,444 | 1,722 |
Fair value of plan assets as of December 31 | 1,269 | 1,444 |
U.S. Pension Benefits | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets as of January 1 | 0 | |
Fair value of plan assets as of December 31 | $ 0 | $ 0 |
Employee Benefit Plans - Estima
Employee Benefit Plans - Estimated Future Benefit Payments (Details) $ in Millions | Dec. 31, 2018USD ($) |
Pension Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2019 | $ 155 |
2020 | 157 |
2021 | 159 |
2022 | 162 |
2023 | 162 |
2024 - 2028 | 836 |
U.S. Pension Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2019 | 105 |
2020 | 107 |
2021 | 110 |
2022 | 112 |
2023 | 114 |
2024 - 2028 | 581 |
International Pension Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2019 | 50 |
2020 | 50 |
2021 | 49 |
2022 | 50 |
2023 | 48 |
2024 - 2028 | 255 |
Postretirement Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2019 | 2 |
2020 | 2 |
2021 | 2 |
2022 | 1 |
2023 | 1 |
2024 - 2028 | 4 |
Postemployment Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2019 | 30 |
2020 | 20 |
2021 | 19 |
2022 | 17 |
2023 | 16 |
2024 - 2028 | $ 66 |
Employee Benefit Plans - Saving
Employee Benefit Plans - Savings Plan (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Contribution, U.S. Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Cost | $ 27 | $ 26 | $ 24 |
Defined Contribution, All Other Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Cost | $ 24 | $ 24 | $ 26 |
Employee Benefit Plans Cash Con
Employee Benefit Plans Cash Contributions (Details) $ in Millions | Dec. 31, 2018USD ($) |
Postemployment Benefits [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 30 |
Other Postretirement Benefits Plan [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 2 |
Foreign Plan [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 28 |
Employee Benefit Plans - Amount
Employee Benefit Plans - Amounts to be Recognized (Details) $ in Millions | Dec. 31, 2018USD ($) |
Postretirement Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Prior service cost (income) | $ (5) |
Actuarial loss | 1 |
Postemployment Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Prior service cost (income) | (2) |
Actuarial loss | (2) |
Pension Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Prior service cost (income) | 1 |
Actuarial loss | 0 |
U.S. Pension Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Prior service cost (income) | 0 |
Actuarial loss | 0 |
International Pension Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Prior service cost (income) | 1 |
Actuarial loss | $ 0 |
Commitments and Contingencies L
Commitments and Contingencies Loss Contingencies (Details) R$ in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($)defendantentityaffiliate_corporationsfacilitynumber_of_companies | Dec. 31, 2018BRL (R$) | Dec. 31, 2017USD ($) | |
Fox River Site [Member] | |||
Loss Contingencies [Line Items] | |||
Portion Of Costs Below Threshold, Percentage | 45.00% | ||
Portion Of Costs Exceeding Threshold, Percentage | 40.00% | ||
Foreign Tax Authority [Member] | |||
Loss Contingencies [Line Items] | |||
Loss Contingency, Damages Sought, Value | $ 43 | R$ 168 | |
Kalamazoo River Site [Member] | |||
Loss Contingencies [Line Items] | |||
Total Corporation Plaintiffs | affiliate_corporations | 3 | ||
Total Past Costs Being Tried | $ 50 | ||
Loss Contingency Accrual | $ 47 | $ 1 | |
Additional Companies Receiving General Notice Letters | number_of_companies | 3 | ||
Total Additional Defendants | defendant | 2 | ||
Fox River Site [Member] | |||
Loss Contingencies [Line Items] | |||
Number of Potentially Responsible Parties | entity | 8 | ||
Number of Previously Owned Carbonless Copy Paper Manufacturing Facilities | facility | 2 | ||
Threshold For Environmental Cleanup Costs | $ 75 | ||
Gross Loss Contingency Accrual | 21 | 36 | |
Net Loss Contingency Accrual | 17 | 35 | |
Total Amount Received from Settlements with Insurance Carriers | $ 202 | ||
BAT And API Funding Obligation Under The Cost Sharing Agreement | 50.00% | ||
Receivable under Funding Agreement | $ 45 | 38 | |
BAT And API Obligation Under The Cost Sharing Agreement | 60.00% | ||
Fox River Site [Member] | Fox River LLC [Member] | |||
Loss Contingencies [Line Items] | |||
Funding Remainder Other Current Asset | $ 0 | $ 0 | |
Minimum [Member] | Foreign Tax Authority [Member] | |||
Loss Contingencies [Line Items] | |||
Loss Contingency, Estimate of Possible Loss | 0 | ||
Minimum [Member] | General Contractor Arbitration [Member] | |||
Loss Contingencies [Line Items] | |||
Loss Contingency, Estimate of Possible Loss | 35 | ||
Maximum [Member] | Foreign Tax Authority [Member] | |||
Loss Contingencies [Line Items] | |||
Loss Contingency, Estimate of Possible Loss | 64 | ||
Maximum [Member] | General Contractor Arbitration [Member] | |||
Loss Contingencies [Line Items] | |||
Loss Contingency, Estimate of Possible Loss | $ 45 |
Commitments and Contingencies -
Commitments and Contingencies - Warranty Reserve (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Warranty reserve liability [Line Items] | |||
Beginning balance | $ 26 | $ 27 | $ 24 |
Accruals for warranties issued | 42 | 43 | 42 |
Settlements (in cash or in kind) | (42) | (44) | (39) |
Ending balance | $ 26 | $ 26 | $ 27 |
Commitments and Contingencies_2
Commitments and Contingencies Leases (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Minimum lease obligations [Abstract] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 128 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 96 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 80 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 64 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 50 | ||
Operating Leases, Rent Expense | $ 148 | $ 144 | $ 132 |
Derivatives and Hedging Instr_3
Derivatives and Hedging Instruments Narrative (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($)currency | |
Derivative [Line Items] | |
Currency Exposure, Number of Functional Currencies | currency | 50 |
Maximum Period For Cash Flow Hedging Activity | 15 months |
Foreign Exchange Contract [Member] | |
Derivative [Line Items] | |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | $ | $ (2) |
Derivatives and Hedging Instr_4
Derivatives and Hedging Instruments - Derivative Fair Values (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | $ 5 | $ 1 |
Derivative Liabilities, Fair Value | 1 | 2 |
Derivatives designated as hedging instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | 4 | 0 |
Derivative Liabilities, Fair Value | 0 | 1 |
Derivatives not designated as hedging instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets, Fair Value | 1 | 1 |
Derivative Liabilities, Fair Value | 1 | 1 |
Foreign Exchange Contract [Member] | Derivatives designated as hedging instrument [Member] | Other current assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Notional Amount | 169 | 104 |
Derivative Assets, Fair Value | 4 | 0 |
Foreign Exchange Contract [Member] | Derivatives designated as hedging instrument [Member] | Other current liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Notional Amount | 0 | 142 |
Derivative Liabilities, Fair Value | 0 | 1 |
Foreign Exchange Contract [Member] | Derivatives not designated as hedging instrument [Member] | Other current assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Notional Amount | 219 | 101 |
Derivative Assets, Fair Value | 1 | 1 |
Foreign Exchange Contract [Member] | Derivatives not designated as hedging instrument [Member] | Other current liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Notional Amount | 157 | 292 |
Derivative Liabilities, Fair Value | $ 1 | $ 1 |
Derivatives and Hedging Instr_5
Derivatives and Hedging Instruments - Gain (Loss) on Derivatives (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized gain (loss) on derivatives | $ 11 | $ (16) | $ 19 |
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized gain (loss) on derivatives | 0 | 0 | 0 |
Interest Rate Swap [Member] | Interest Expense [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 0 | 0 | 2 |
Foreign Exchange Derivative [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized gain (loss) on derivatives | 11 | (16) | 19 |
Foreign Exchange Derivative [Member] | Cost of Products [Member] | Cash Flow Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ (7) | $ (1) | $ (3) |
Derivatives and Hedging Instr_6
Derivatives and Hedging Instruments - Gain (Loss) on Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other (Expense) Income, Net [Member] | Foreign Exchange Derivative [Member] | |||
Derivative [Line Items] | |||
Amount of Gain (Loss) Recognized in the Condensed Consolidated Statement of Operations | $ (9) | $ (4) | $ (1) |
Fair Value of Assets and Liab_3
Fair Value of Assets and Liabilities (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | $ 8 | $ 90 |
Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 0 |
Assets, Fair Value Disclosure | 8 | 90 |
Foreign Currency Contracts, Liability, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Foreign Currency Contract, Asset, Fair Value Disclosure | 5 | 1 |
Assets, Fair Value Disclosure | 5 | 1 |
Foreign Currency Contracts, Liability, Fair Value Disclosure | 1 | 2 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 1 | 2 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 0 |
Assets, Fair Value Disclosure | 0 | 0 |
Foreign Currency Contracts, Liability, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 8 | 90 |
Foreign Currency Contract, Asset, Fair Value Disclosure | 5 | 1 |
Assets, Fair Value Disclosure | 13 | 91 |
Foreign Currency Contracts, Liability, Fair Value Disclosure | 1 | 2 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 1 | $ 2 |
Segment Information - Revenue a
Segment Information - Revenue and Operating Income By Segments (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||||||||
Total revenue | $ 6,405 | $ 6,516 | $ 6,543 | ||||||||
Income from operations | $ 63 | $ 125 | $ (106) | $ 109 | $ 202 | $ 199 | $ 175 | $ 115 | 191 | 691 | 674 |
Asset Impairment Charges | 227 | 0 | 0 | ||||||||
Operating Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenue | 6,405 | 6,516 | 6,543 | ||||||||
Operating income by segment | 688 | 840 | 830 | ||||||||
Operating Segments [Member] | Banking Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenue | 3,183 | 3,175 | 3,370 | ||||||||
Operating income by segment | 412 | 421 | 441 | ||||||||
Operating Segments [Member] | Retail [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenue | 2,097 | 2,169 | 2,070 | ||||||||
Operating income by segment | 142 | 231 | 191 | ||||||||
Operating Segments [Member] | Hospitality [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenue | 817 | 878 | 800 | ||||||||
Operating income by segment | 85 | 140 | 151 | ||||||||
Operating Segments [Member] | Other Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenue | 308 | 294 | 303 | ||||||||
Operating income by segment | 49 | 48 | 47 | ||||||||
Segment Reconciling Items [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Other adjustments | 497 | 149 | 156 | ||||||||
Restructuring and other asset-related charges | 223 | 29 | 26 | ||||||||
Acquisition Related Amortization Costs Included in Other Adjustments | 85 | 115 | 123 | ||||||||
Acquisiton Related Costs Included In Other Adjustments | 6 | 5 | 7 | ||||||||
Asset Impairment Charges | $ 183 | $ 0 | $ 0 |
Segment Information - Revenue f
Segment Information - Revenue from External Customers by Products and Services (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue from External Customer [Line Items] | |||
Total revenue | $ 6,405 | $ 6,516 | $ 6,543 |
Product [Member] | |||
Revenue from External Customer [Line Items] | |||
Total revenue | 2,341 | 2,579 | 2,737 |
Technology Service [Member] | |||
Revenue from External Customer [Line Items] | |||
Total revenue | 1,094 | 1,055 | 1,011 |
Recurring revenue, including maintenance and cloud revenue [Member] | |||
Revenue from External Customer [Line Items] | |||
Total revenue | $ 2,970 | $ 2,882 | $ 2,795 |
Segment Information Geographic
Segment Information Geographic Area (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | $ 1,801 | $ 1,550 | $ 1,537 | $ 1,517 | $ 1,782 | $ 1,663 | $ 1,593 | $ 1,478 | $ 6,405 | $ 6,516 | $ 6,543 |
UNITED STATES | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | $ 3,076 | $ 3,224 | $ 3,106 | ||||||||
Percentage of Revenues by Geographic Area | 48.00% | 50.00% | 47.00% | ||||||||
Americas (Excluding United States) [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | $ 631 | $ 585 | $ 637 | ||||||||
Percentage of Revenues by Geographic Area | 10.00% | 9.00% | 10.00% | ||||||||
EMEA | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | $ 1,751 | $ 1,786 | $ 1,896 | ||||||||
Percentage of Revenues by Geographic Area | 27.00% | 27.00% | 29.00% | ||||||||
APJ [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | $ 947 | $ 921 | $ 904 | ||||||||
Percentage of Revenues by Geographic Area | 15.00% | 14.00% | 14.00% |
Segment Information Property, P
Segment Information Property, Plant and Equipment by Geography (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Segment Reporting Information [Line Items] | ||
Property, plant and equipment, net | $ 359 | $ 341 |
UNITED STATES | ||
Segment Reporting Information [Line Items] | ||
Property, plant and equipment, net | 247 | 204 |
Americas (Excluding United States) [Member] | ||
Segment Reporting Information [Line Items] | ||
Property, plant and equipment, net | 13 | 19 |
EMEA | ||
Segment Reporting Information [Line Items] | ||
Property, plant and equipment, net | 57 | 75 |
APJ [Member] | ||
Segment Reporting Information [Line Items] | ||
Property, plant and equipment, net | $ 42 | $ 43 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (AOCI) Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated other comprehensive income (loss), beginning balance | $ (199) | $ (205) | $ (150) |
Other comprehensive (loss) income before reclassifications | (34) | 15 | (37) |
Amounts reclassified from AOCI | (14) | (9) | (18) |
Net current period other comprehensive (loss) income | (48) | 6 | (55) |
Accumulated other comprehensive income (loss), ending balance | (246) | (199) | (205) |
Currency Translation Adjustments | |||
Accumulated Other Comprehensive Income [Line Items] | |||
Tax Cuts and Jobs Act Reclassification from AOCI to Retained Earnings Tax Effect | 0 | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated other comprehensive income (loss), beginning balance | (183) | (224) | (172) |
Other comprehensive (loss) income before reclassifications | (51) | 41 | (52) |
Amounts reclassified from AOCI | 0 | 0 | 0 |
Net current period other comprehensive (loss) income | (51) | 41 | (52) |
Accumulated other comprehensive income (loss), ending balance | (234) | (183) | (224) |
Changes in Employee Benefit Plans | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated other comprehensive income (loss), beginning balance | (15) | 6 | 23 |
Other comprehensive (loss) income before reclassifications | 6 | (13) | (1) |
Amounts reclassified from AOCI | (6) | (8) | (16) |
Net current period other comprehensive (loss) income | 0 | (21) | (17) |
Accumulated other comprehensive income (loss), ending balance | (14) | (15) | 6 |
Changes in Fair Value of Effective Cash Flow Hedges | |||
Accumulated Other Comprehensive Income [Line Items] | |||
Tax Cuts and Jobs Act Reclassification from AOCI to Retained Earnings Tax Effect | 1 | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Accumulated other comprehensive income (loss), beginning balance | (1) | 13 | (1) |
Other comprehensive (loss) income before reclassifications | 11 | (13) | 16 |
Amounts reclassified from AOCI | (8) | (1) | (2) |
Net current period other comprehensive (loss) income | 3 | (14) | 14 |
Accumulated other comprehensive income (loss), ending balance | $ 2 | $ (1) | $ 13 |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) (AOCI) Reclassifications (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Selling, general and administrative expenses | $ (1,005) | $ (923) | $ (904) |
Research and development expenses | (252) | (241) | (225) |
Interest expense | (168) | (163) | (170) |
Income (loss) from continuing operations | (34) | 240 | 287 |
Income tax expense | (73) | (242) | (92) |
Net income (loss) attributable to NCR common stockholders | (137) | 123 | 221 |
Reclassification out of Accumulated Other Comprehensive Income | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Selling, general and administrative expenses | (3) | (4) | (6) |
Research and development expenses | (1) | (2) | (4) |
Interest expense | 2 | ||
Income (loss) from continuing operations | (16) | (14) | (22) |
Income tax expense | 2 | 5 | 4 |
Net income (loss) attributable to NCR common stockholders | (14) | (9) | (18) |
Reclassification out of Accumulated Other Comprehensive Income | Actuarial losses recognized | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Selling, general and administrative expenses | 0 | 0 | 0 |
Research and development expenses | 0 | (1) | (1) |
Interest expense | 0 | ||
Income (loss) from continuing operations | 0 | (2) | (2) |
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 | (3) | (4) | (6) |
Research and development expenses | (1) | (1) | (3) |
Interest expense | 0 | ||
Income (loss) from continuing operations | (9) | (11) | (19) |
Reclassification out of Accumulated Other Comprehensive Income | 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 | 2 | ||
Income (loss) from continuing operations | (7) | (1) | (1) |
Product [Member] | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Cost of products | 1,988 | 2,021 | 2,099 |
Product [Member] | Reclassification out of Accumulated Other Comprehensive Income | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Cost of products | 7 | 1 | 3 |
Product [Member] | 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 [Member] | 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 [Member] | Reclassification out of Accumulated Other Comprehensive Income | Effective Cash Flow Hedges | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Cost of products | 7 | 1 | 3 |
Service [Member] | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Cost of products | 2,742 | 2,640 | 2,626 |
Service [Member] | Reclassification out of Accumulated Other Comprehensive Income | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Cost of products | 5 | 7 | 11 |
Service [Member] | Reclassification out of Accumulated Other Comprehensive Income | Actuarial losses recognized | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Cost of products | 0 | 1 | 1 |
Service [Member] | Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service benefit | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Cost of products | 5 | 6 | 10 |
Service [Member] | Reclassification out of Accumulated Other Comprehensive Income | Effective Cash Flow Hedges | |||
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | |||
Cost of products | $ 0 | $ 0 | $ 0 |
Restructuring Plan (Details)
Restructuring Plan (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | ||
Restructuring Reserve | $ 2 | $ 0 |
Restructuring Reserve, Period Increase (Decrease) | 13 | |
Restructuring Reserve, Accrual Adjustment | 0 | |
Payments for Restructuring | (11) | |
Restructuring Reserve, Foreign Currency Translation Gain (Loss) | 0 | |
Restructuring and other asset-related charges (benefit) | 50 | |
Inventory related charges [Member] | Cost of Services [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and other asset-related charges (benefit) | 37 | |
Other exit costs [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and other asset-related charges (benefit) | 6 | |
Other exit costs [Member] | Selling, General and Administrative Expenses [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and other asset-related charges (benefit) | 3 | |
Discrete charge under ASC 712 [Member] | Severance and other employee related charges [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and other asset-related charges (benefit) | 2 | |
Severance charge under ASC 420 [Member] | Severance and other employee related charges [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Payments for Restructuring | (3) | |
Restructuring and other asset-related charges (benefit) | $ 5 |
Supplemental Financial Inform_3
Supplemental Financial Information Supplemental Financial Information - Other (Expense) Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other (Expense) Income [Abstract] | |||
Interest and Other Income | $ 5 | $ 3 | $ 4 |
Foreign currency fluctuations and foreign exchange contracts | (26) | (26) | (40) |
Employee Benefit Plans Amounts Included in Other Income Expense | 45 | (15) | (75) |
Bank Related Fees Included in Other Income Expense | (8) | (8) | (8) |
Divestiture and liquidation losses | 0 | 0 | (6) |
Total other (expense), net | $ 16 | $ (46) | $ (125) |
Supplemental Financial Inform_4
Supplemental Financial Information - Accounts Receivable (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts Receivable, Net, Current [Abstract] | ||
Accounts receivable | $ 1,387 | $ 1,307 |
Less: allowance for doubtful accounts | (31) | (37) |
Total accounts receivable, net | 1,356 | 1,270 |
Trade [Member] | ||
Accounts Receivable, Net, Current [Abstract] | ||
Accounts receivable | 1,364 | 1,270 |
Other [Member] | ||
Accounts Receivable, Net, Current [Abstract] | ||
Accounts receivable | $ 23 | $ 37 |
Supplemental Financial Inform_5
Supplemental Financial Information - Inventory (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Inventory, Net [Abstract] | ||
Work in process and raw materials | $ 237 | $ 185 |
Finished goods | 214 | 190 |
Service parts | 355 | 405 |
Total inventories, net | $ 806 | $ 780 |
Supplemental Financial Inform_6
Supplemental Financial Information Supplemental Financial Information - Property, Plant and Equipment (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Class of Stock [Line Items] | ||
Property, Plant and Equipment, Gross | $ 929 | $ 918 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (570) | (577) |
Property, plant and equipment, net | 359 | 341 |
Land and Land Improvements [Member] | ||
Class of Stock [Line Items] | ||
Property, Plant and Equipment, Gross | 6 | 7 |
Building and Building Improvements [Member] | ||
Class of Stock [Line Items] | ||
Property, Plant and Equipment, Gross | 273 | 278 |
Machinery and other equipment [Member] | ||
Class of Stock [Line Items] | ||
Property, Plant and Equipment, Gross | $ 650 | $ 633 |
Condensed Consolidating Suppl_3
Condensed Consolidating Supplemental Guarantor Information Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Total revenue | $ 6,405 | $ 6,516 | $ 6,543 | ||||||||
Selling, general and administrative expenses | 1,005 | 923 | 904 | ||||||||
Research and development expenses | 252 | 241 | 225 | ||||||||
Asset Impairment Charges | 227 | 0 | 0 | ||||||||
Restructuring-related charges | 0 | 0 | 15 | ||||||||
Total operating expenses | 6,214 | 5,825 | 5,869 | ||||||||
Income (loss) from operations | $ 63 | $ 125 | $ (106) | $ 109 | $ 202 | $ 199 | $ 175 | $ 115 | 191 | 691 | 674 |
Interest expense | (168) | (163) | (170) | ||||||||
Other income (expense), net | 16 | (46) | (125) | ||||||||
Income (loss) from continuing operations before income taxes | 39 | 482 | 379 | ||||||||
Income tax expense (benefit) | 73 | 242 | 92 | ||||||||
Income (loss) from continuing operations before earning in subsidiaries | (34) | 240 | 287 | ||||||||
Equity in earnings of consolidated subsidiaries | 0 | 0 | 0 | ||||||||
Income (loss) from continuing operations | (34) | 240 | 287 | ||||||||
Loss (income) from discontinued operations | (52) | (5) | (13) | ||||||||
Net income (loss) | (86) | 235 | 274 | ||||||||
Net income | 2 | 3 | 4 | ||||||||
Net income (loss) attributable to NCR | $ (60) | $ 72 | $ (157) | $ 8 | $ (56) | $ 106 | $ 90 | $ (17) | (88) | 232 | 270 |
Total comprehensive income (loss) | (136) | 239 | 214 | ||||||||
Less comprehensive income (loss) attributable to noncontrolling interests | 0 | 1 | (1) | ||||||||
Comprehensive (loss) income attributable to NCR common stockholders | (136) | 238 | 215 | ||||||||
Parent Company [Member] | |||||||||||
Total revenue | 3,208 | 3,380 | 3,255 | ||||||||
Selling, general and administrative expenses | 577 | 490 | 526 | ||||||||
Research and development expenses | 102 | 184 | 160 | ||||||||
Asset Impairment Charges | 210 | ||||||||||
Restructuring-related charges | 0 | 3 | |||||||||
Total operating expenses | 3,332 | 3,076 | 3,076 | ||||||||
Income (loss) from operations | (124) | 304 | 179 | ||||||||
Interest expense | (161) | (159) | (165) | ||||||||
Other income (expense), net | 7 | (74) | (42) | ||||||||
Income (loss) from continuing operations before income taxes | (278) | 71 | (28) | ||||||||
Income tax expense (benefit) | (56) | 113 | (20) | ||||||||
Income (loss) from continuing operations before earning in subsidiaries | (222) | (42) | (8) | ||||||||
Equity in earnings of consolidated subsidiaries | 184 | 279 | 291 | ||||||||
Income (loss) from continuing operations | (38) | 237 | 283 | ||||||||
Loss (income) from discontinued operations | (50) | (5) | (13) | ||||||||
Net income (loss) | (88) | 232 | 270 | ||||||||
Net income | 0 | 0 | 0 | ||||||||
Net income (loss) attributable to NCR | (88) | 232 | 270 | ||||||||
Total comprehensive income (loss) | (136) | 238 | 215 | ||||||||
Less comprehensive income (loss) attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
Comprehensive (loss) income attributable to NCR common stockholders | (136) | 238 | 215 | ||||||||
Guarantor Subsidiary [Member] | |||||||||||
Total revenue | 69 | 120 | 147 | ||||||||
Selling, general and administrative expenses | 2 | 3 | 4 | ||||||||
Research and development expenses | 0 | 0 | 0 | ||||||||
Asset Impairment Charges | 0 | ||||||||||
Restructuring-related charges | 0 | 0 | |||||||||
Total operating expenses | 47 | 50 | 66 | ||||||||
Income (loss) from operations | 22 | 70 | 81 | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Other income (expense), net | 6 | 1 | (23) | ||||||||
Income (loss) from continuing operations before income taxes | 28 | 71 | 58 | ||||||||
Income tax expense (benefit) | 72 | 107 | 21 | ||||||||
Income (loss) from continuing operations before earning in subsidiaries | (44) | (36) | 37 | ||||||||
Equity in earnings of consolidated subsidiaries | 237 | 291 | 304 | ||||||||
Income (loss) from continuing operations | 193 | 255 | 341 | ||||||||
Loss (income) from discontinued operations | 0 | 0 | 0 | ||||||||
Net income (loss) | 193 | 255 | 341 | ||||||||
Net income | 0 | 0 | 0 | ||||||||
Net income (loss) attributable to NCR | 193 | 255 | 341 | ||||||||
Total comprehensive income (loss) | 118 | 269 | 277 | ||||||||
Less comprehensive income (loss) attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
Comprehensive (loss) income attributable to NCR common stockholders | 118 | 269 | 277 | ||||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||
Total revenue | 3,354 | 3,311 | 3,576 | ||||||||
Selling, general and administrative expenses | 426 | 430 | 374 | ||||||||
Research and development expenses | 150 | 57 | 65 | ||||||||
Asset Impairment Charges | 17 | ||||||||||
Restructuring-related charges | 0 | 12 | |||||||||
Total operating expenses | 3,061 | 2,994 | 3,162 | ||||||||
Income (loss) from operations | 293 | 317 | 414 | ||||||||
Interest expense | (15) | (9) | (10) | ||||||||
Other income (expense), net | 11 | 32 | (55) | ||||||||
Income (loss) from continuing operations before income taxes | 289 | 340 | 349 | ||||||||
Income tax expense (benefit) | 57 | 22 | 91 | ||||||||
Income (loss) from continuing operations before earning in subsidiaries | 232 | 318 | 258 | ||||||||
Equity in earnings of consolidated subsidiaries | 0 | 0 | 0 | ||||||||
Income (loss) from continuing operations | 232 | 318 | 258 | ||||||||
Loss (income) from discontinued operations | (2) | 0 | 0 | ||||||||
Net income (loss) | 230 | 318 | 258 | ||||||||
Net income | 2 | 3 | 4 | ||||||||
Net income (loss) attributable to NCR | 228 | 315 | 254 | ||||||||
Total comprehensive income (loss) | 174 | 317 | 195 | ||||||||
Less comprehensive income (loss) attributable to noncontrolling interests | 0 | 1 | (1) | ||||||||
Comprehensive (loss) income attributable to NCR common stockholders | 174 | 316 | 196 | ||||||||
Consolidation, Eliminations [Member] | |||||||||||
Total revenue | (226) | (295) | (435) | ||||||||
Selling, general and administrative expenses | 0 | 0 | 0 | ||||||||
Research and development expenses | 0 | 0 | 0 | ||||||||
Asset Impairment Charges | 0 | ||||||||||
Restructuring-related charges | 0 | 0 | |||||||||
Total operating expenses | (226) | (295) | (435) | ||||||||
Income (loss) from operations | 0 | 0 | 0 | ||||||||
Interest expense | 8 | 5 | 5 | ||||||||
Other income (expense), net | (8) | (5) | (5) | ||||||||
Income (loss) from continuing operations before income taxes | 0 | 0 | 0 | ||||||||
Income tax expense (benefit) | 0 | 0 | 0 | ||||||||
Income (loss) from continuing operations before earning in subsidiaries | 0 | 0 | 0 | ||||||||
Equity in earnings of consolidated subsidiaries | (421) | (570) | (595) | ||||||||
Income (loss) from continuing operations | (421) | (570) | (595) | ||||||||
Loss (income) from discontinued operations | 0 | 0 | 0 | ||||||||
Net income (loss) | (421) | (570) | (595) | ||||||||
Net income | 0 | 0 | 0 | ||||||||
Net income (loss) attributable to NCR | (421) | (570) | (595) | ||||||||
Total comprehensive income (loss) | (292) | (585) | (473) | ||||||||
Less comprehensive income (loss) attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
Comprehensive (loss) income attributable to NCR common stockholders | (292) | (585) | (473) | ||||||||
Product [Member] | |||||||||||
Total revenue | 2,341 | 2,579 | 2,737 | ||||||||
Cost of products | 1,988 | 2,021 | 2,099 | ||||||||
Product [Member] | Parent Company [Member] | |||||||||||
Total revenue | 1,091 | 1,329 | 1,293 | ||||||||
Cost of products | 1,000 | 1,042 | 1,028 | ||||||||
Product [Member] | Guarantor Subsidiary [Member] | |||||||||||
Total revenue | 36 | 91 | 111 | ||||||||
Cost of products | 32 | 37 | 50 | ||||||||
Product [Member] | Non-Guarantor Subsidiaries [Member] | |||||||||||
Total revenue | 1,440 | 1,454 | 1,768 | ||||||||
Cost of products | 1,182 | 1,237 | 1,456 | ||||||||
Product [Member] | Consolidation, Eliminations [Member] | |||||||||||
Total revenue | (226) | (295) | (435) | ||||||||
Cost of products | (226) | (295) | (435) | ||||||||
Service [Member] | |||||||||||
Total revenue | 4,064 | 3,937 | 3,806 | ||||||||
Cost of products | 2,742 | 2,640 | 2,626 | ||||||||
Service [Member] | Parent Company [Member] | |||||||||||
Total revenue | 2,117 | 2,051 | 1,962 | ||||||||
Cost of products | 1,443 | 1,360 | 1,359 | ||||||||
Service [Member] | Guarantor Subsidiary [Member] | |||||||||||
Total revenue | 33 | 29 | 36 | ||||||||
Cost of products | 13 | 10 | 12 | ||||||||
Service [Member] | Non-Guarantor Subsidiaries [Member] | |||||||||||
Total revenue | 1,914 | 1,857 | 1,808 | ||||||||
Cost of products | 1,286 | 1,270 | 1,255 | ||||||||
Service [Member] | Consolidation, Eliminations [Member] | |||||||||||
Total revenue | 0 | 0 | 0 | ||||||||
Cost of products | $ 0 | $ 0 | $ 0 |
Condensed Consolidating Suppl_4
Condensed Consolidating Supplemental Guarantor Information Balance Sheets (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | $ 464 | $ 537 | $ 498 |
Accounts receivable, net | 1,356 | 1,270 | |
Inventories | 806 | 780 | |
Due from affiliates | 0 | 0 | |
Other current assets | 397 | 243 | |
Total current assets | 3,023 | 2,830 | |
Property, plant and equipment, net | 359 | 341 | |
Goodwill | 2,692 | 2,741 | 2,727 |
Intangibles, net | 595 | 578 | |
Prepaid pension cost | 140 | 118 | |
Deferred income taxes | 448 | 460 | |
Investments in subsidiaries | 0 | 0 | |
Due from affiliates | 0 | 0 | |
Other assets | 504 | 586 | |
Total assets | 7,761 | 7,654 | |
Short-term borrowings | 185 | 52 | |
Accounts payable | 897 | 762 | |
Payroll and benefits liabilities | 238 | 219 | |
Deferred service revenue and customer deposits | 461 | 458 | |
Due to Related Parties, Current | 0 | 0 | |
Other current liabilities | 501 | 398 | |
Total current liabilities | 2,282 | 1,889 | |
Long-term debt | 2,980 | 2,939 | |
Pension and indemnity plan liabilities | 759 | 798 | |
Postretirement and postemployment benefits liabilities | 118 | 133 | |
Income tax accruals | 91 | 148 | |
Due to affiliates | 0 | 0 | |
Other liabilities | 259 | 200 | |
Total liabilities | 6,489 | 6,107 | |
Redeemable noncontrolling interest | 14 | 15 | |
Series A convertible preferred stock: par value $0.01 per share, 3.0 shares authorized, 0.9 and 0.8 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively; redemption amount and liquidation preference of $871 and $825 as of December 31, 2018 and December 31, 2017, respectively | 859 | 810 | |
Total NCR stockholders’ equity | 395 | 719 | |
Noncontrolling interests in subsidiaries | 4 | 3 | |
Total stockholders’ equity | 399 | 722 | |
Total liabilities and stockholders’ equity | 7,761 | 7,654 | |
Parent Company [Member] | |||
Cash and cash equivalents | 6 | 97 | 67 |
Accounts receivable, net | 37 | 62 | |
Inventories | 288 | 311 | |
Due from affiliates | 708 | 646 | |
Other current assets | 137 | 78 | |
Total current assets | 1,176 | 1,194 | |
Property, plant and equipment, net | 245 | 207 | |
Goodwill | 2,168 | 2,228 | |
Intangibles, net | 536 | 503 | |
Prepaid pension cost | 0 | 0 | |
Deferred income taxes | 317 | 334 | |
Investments in subsidiaries | 3,244 | 3,008 | |
Due from affiliates | 16 | 31 | |
Other assets | 453 | 472 | |
Total assets | 8,155 | 7,977 | |
Short-term borrowings | 85 | 52 | |
Accounts payable | 397 | 382 | |
Payroll and benefits liabilities | 141 | 124 | |
Deferred service revenue and customer deposits | 221 | 216 | |
Due to Related Parties, Current | 2,177 | 1,884 | |
Other current liabilities | 201 | 204 | |
Total current liabilities | 3,222 | 2,862 | |
Long-term debt | 2,978 | 2,937 | |
Pension and indemnity plan liabilities | 502 | 515 | |
Postretirement and postemployment benefits liabilities | 18 | 20 | |
Income tax accruals | 19 | 20 | |
Due to affiliates | 0 | 0 | |
Other liabilities | 162 | 94 | |
Total liabilities | 6,901 | 6,448 | |
Redeemable noncontrolling interest | 0 | 0 | |
Series A convertible preferred stock: par value $0.01 per share, 3.0 shares authorized, 0.9 and 0.8 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively; redemption amount and liquidation preference of $871 and $825 as of December 31, 2018 and December 31, 2017, respectively | 859 | 810 | |
Total NCR stockholders’ equity | 395 | 719 | |
Noncontrolling interests in subsidiaries | 0 | 0 | |
Total stockholders’ equity | 395 | 719 | |
Total liabilities and stockholders’ equity | 8,155 | 7,977 | |
Guarantor Subsidiary [Member] | |||
Cash and cash equivalents | 8 | 11 | 12 |
Accounts receivable, net | 10 | 12 | |
Inventories | 4 | 7 | |
Due from affiliates | 2,092 | 1,801 | |
Other current assets | 47 | 39 | |
Total current assets | 2,161 | 1,870 | |
Property, plant and equipment, net | 1 | 0 | |
Goodwill | 0 | 0 | |
Intangibles, net | 0 | 0 | |
Prepaid pension cost | 0 | 0 | |
Deferred income taxes | 0 | 0 | |
Investments in subsidiaries | 2,854 | 2,942 | |
Due from affiliates | 1 | 1 | |
Other assets | 4 | 63 | |
Total assets | 5,021 | 4,876 | |
Short-term borrowings | 0 | 0 | |
Accounts payable | 2 | 0 | |
Payroll and benefits liabilities | 0 | 0 | |
Deferred service revenue and customer deposits | 5 | 6 | |
Due to Related Parties, Current | 143 | 130 | |
Other current liabilities | 6 | 5 | |
Total current liabilities | 156 | 141 | |
Long-term debt | 0 | 0 | |
Pension and indemnity plan liabilities | 0 | 0 | |
Postretirement and postemployment benefits liabilities | 3 | 3 | |
Income tax accruals | 5 | 5 | |
Due to affiliates | 36 | 39 | |
Other liabilities | 24 | 36 | |
Total liabilities | 224 | 224 | |
Redeemable noncontrolling interest | 0 | 0 | |
Series A convertible preferred stock: par value $0.01 per share, 3.0 shares authorized, 0.9 and 0.8 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively; redemption amount and liquidation preference of $871 and $825 as of December 31, 2018 and December 31, 2017, respectively | 0 | 0 | |
Total NCR stockholders’ equity | 4,797 | 4,652 | |
Noncontrolling interests in subsidiaries | 0 | 0 | |
Total stockholders’ equity | 4,797 | 4,652 | |
Total liabilities and stockholders’ equity | 5,021 | 4,876 | |
Non-Guarantor Subsidiaries [Member] | |||
Cash and cash equivalents | 450 | 429 | 419 |
Accounts receivable, net | 1,309 | 1,196 | |
Inventories | 514 | 462 | |
Due from affiliates | 457 | 283 | |
Other current assets | 255 | 162 | |
Total current assets | 2,985 | 2,532 | |
Property, plant and equipment, net | 113 | 134 | |
Goodwill | 524 | 513 | |
Intangibles, net | 59 | 75 | |
Prepaid pension cost | 140 | 118 | |
Deferred income taxes | 149 | 157 | |
Investments in subsidiaries | 0 | 0 | |
Due from affiliates | 35 | 39 | |
Other assets | 47 | 51 | |
Total assets | 4,052 | 3,619 | |
Short-term borrowings | 100 | 0 | |
Accounts payable | 498 | 380 | |
Payroll and benefits liabilities | 97 | 95 | |
Deferred service revenue and customer deposits | 235 | 236 | |
Due to Related Parties, Current | 937 | 716 | |
Other current liabilities | 336 | 225 | |
Total current liabilities | 2,203 | 1,652 | |
Long-term debt | 2 | 2 | |
Pension and indemnity plan liabilities | 257 | 283 | |
Postretirement and postemployment benefits liabilities | 97 | 110 | |
Income tax accruals | 67 | 123 | |
Due to affiliates | 16 | 32 | |
Other liabilities | 91 | 101 | |
Total liabilities | 2,733 | 2,303 | |
Redeemable noncontrolling interest | 14 | 15 | |
Series A convertible preferred stock: par value $0.01 per share, 3.0 shares authorized, 0.9 and 0.8 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively; redemption amount and liquidation preference of $871 and $825 as of December 31, 2018 and December 31, 2017, respectively | 0 | 0 | |
Total NCR stockholders’ equity | 1,301 | 1,298 | |
Noncontrolling interests in subsidiaries | 4 | 3 | |
Total stockholders’ equity | 1,305 | 1,301 | |
Total liabilities and stockholders’ equity | 4,052 | 3,619 | |
Consolidation, Eliminations [Member] | |||
Cash and cash equivalents | 0 | 0 | $ 0 |
Accounts receivable, net | 0 | 0 | |
Inventories | 0 | 0 | |
Due from affiliates | (3,257) | (2,730) | |
Other current assets | (42) | (36) | |
Total current assets | (3,299) | (2,766) | |
Property, plant and equipment, net | 0 | 0 | |
Goodwill | 0 | 0 | |
Intangibles, net | 0 | 0 | |
Prepaid pension cost | 0 | 0 | |
Deferred income taxes | (18) | (31) | |
Investments in subsidiaries | (6,098) | (5,950) | |
Due from affiliates | (52) | (71) | |
Other assets | 0 | 0 | |
Total assets | (9,467) | (8,818) | |
Short-term borrowings | 0 | 0 | |
Accounts payable | 0 | 0 | |
Payroll and benefits liabilities | 0 | 0 | |
Deferred service revenue and customer deposits | 0 | 0 | |
Due to Related Parties, Current | (3,257) | (2,730) | |
Other current liabilities | (42) | (36) | |
Total current liabilities | (3,299) | (2,766) | |
Long-term debt | 0 | 0 | |
Pension and indemnity plan liabilities | 0 | 0 | |
Postretirement and postemployment benefits liabilities | 0 | 0 | |
Income tax accruals | 0 | 0 | |
Due to affiliates | (52) | (71) | |
Other liabilities | (18) | (31) | |
Total liabilities | (3,369) | (2,868) | |
Redeemable noncontrolling interest | 0 | 0 | |
Series A convertible preferred stock: par value $0.01 per share, 3.0 shares authorized, 0.9 and 0.8 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively; redemption amount and liquidation preference of $871 and $825 as of December 31, 2018 and December 31, 2017, respectively | 0 | 0 | |
Total NCR stockholders’ equity | (6,098) | (5,950) | |
Noncontrolling interests in subsidiaries | 0 | 0 | |
Total stockholders’ equity | (6,098) | (5,950) | |
Total liabilities and stockholders’ equity | $ (9,467) | $ (8,818) |
Condensed Consolidating Suppl_5
Condensed Consolidating Supplemental Guarantor Information Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | $ 572 | $ 752 | $ 896 | |
Expenditures for property, plant and equipment | (143) | (128) | (73) | |
Proceeds from Sale of property, plant, and equipment | (3) | (6) | 0 | |
Proceeds from Collection of (Payments to Fund) Long-term Loans to Related Parties | 0 | 0 | ||
Additions to capitalized software | (170) | (166) | (154) | |
Business acquisitions, net | (206) | (8) | 0 | |
Proceeds from (payment of) of intercompany notes | 0 | |||
Proceeds from divestiture | 0 | 3 | 47 | |
Investments in equity affiliates | 0 | 0 | 0 | |
Other investing activities, net | (4) | 3 | (9) | |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | (520) | (290) | (189) | |
Short term borrowings, net | (1) | (4) | (8) | |
Proceeds from Issuance of Secured Debt | 0 | |||
Payments on term credit facilities | (51) | (61) | (97) | |
Payments on revolving credit facilities | (2,233) | (1,940) | (1,431) | |
Borrowings on revolving credit facilities | 2,453 | 1,940 | 1,331 | |
Tax withholding payments on behalf of employees | (36) | (31) | (16) | |
Proceeds from employee stock plans | 20 | 15 | 15 | |
Debt issuance costs | 0 | 0 | (9) | |
Dividend distribution to consolidated subsidiaries | 0 | 0 | 0 | |
Payments for Repurchase of Common Stock | (210) | (350) | (250) | |
Other financing activities | 0 | (3) | (2) | |
Equity contribution | 0 | 0 | 0 | |
Borrowings (repayments) of intercompany notes | 0 | 0 | 0 | |
Payments to Noncontrolling Interests | (250) | |||
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (58) | (434) | (467) | |
Net cash used in discontinued operations operating activities | (36) | (8) | (39) | |
Effect of Exchange Rate changes on cash and cash equivalents | (25) | 16 | (29) | |
Decrease in cash, cash equivalents, and restricted cash | (67) | 36 | 172 | |
Restricted Cash | 12 | 6 | 9 | |
Cash and cash equivalents | 476 | 543 | 507 | $ 335 |
Parent Company [Member] | ||||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 353 | 459 | 336 | |
Expenditures for property, plant and equipment | (109) | (87) | (33) | |
Proceeds from Sale of property, plant, and equipment | (1) | 0 | ||
Proceeds from Collection of (Payments to Fund) Long-term Loans to Related Parties | 228 | 230 | ||
Additions to capitalized software | (144) | (133) | (114) | |
Business acquisitions, net | (206) | (8) | ||
Proceeds from (payment of) of intercompany notes | 365 | |||
Proceeds from divestiture | 3 | 22 | ||
Investments in equity affiliates | (14) | 3 | (9) | |
Other investing activities, net | (4) | (1) | (9) | |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | (248) | 7 | 222 | |
Short term borrowings, net | (1) | (5) | (4) | |
Proceeds from Issuance of Secured Debt | 0 | |||
Payments on term credit facilities | (51) | (56) | (89) | |
Payments on revolving credit facilities | (1,755) | (1,700) | (1,151) | |
Borrowings on revolving credit facilities | 1,875 | 1,700 | 1,051 | |
Tax withholding payments on behalf of employees | (36) | (31) | (16) | |
Proceeds from employee stock plans | 20 | 15 | 15 | |
Debt issuance costs | (9) | |||
Dividend distribution to consolidated subsidiaries | 0 | 0 | 0 | |
Payments for Repurchase of Common Stock | (210) | (350) | ||
Other financing activities | (1) | 0 | ||
Equity contribution | 0 | 0 | 0 | |
Borrowings (repayments) of intercompany notes | 0 | 0 | (16) | |
Payments to Noncontrolling Interests | (250) | |||
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (158) | (428) | (469) | |
Net cash used in discontinued operations operating activities | (36) | (8) | (39) | |
Effect of Exchange Rate changes on cash and cash equivalents | (1) | 0 | 0 | |
Decrease in cash, cash equivalents, and restricted cash | (90) | 30 | 50 | |
Restricted Cash | 1 | 0 | 0 | |
Cash and cash equivalents | 7 | 97 | 67 | 17 |
Guarantor Subsidiary [Member] | ||||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | (138) | (180) | (160) | |
Expenditures for property, plant and equipment | 0 | 0 | 0 | |
Proceeds from Sale of property, plant, and equipment | 0 | 0 | ||
Proceeds from Collection of (Payments to Fund) Long-term Loans to Related Parties | 135 | 180 | ||
Additions to capitalized software | 0 | 0 | 0 | |
Business acquisitions, net | 0 | 0 | ||
Proceeds from (payment of) of intercompany notes | 115 | |||
Proceeds from divestiture | 0 | 0 | ||
Investments in equity affiliates | 0 | 0 | 50 | |
Other investing activities, net | 0 | 0 | 0 | |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | 135 | 180 | 165 | |
Short term borrowings, net | 0 | 0 | 0 | |
Proceeds from Issuance of Secured Debt | 0 | |||
Payments on term credit facilities | 0 | 0 | 0 | |
Payments on revolving credit facilities | 0 | 0 | 0 | |
Borrowings on revolving credit facilities | 0 | 0 | 0 | |
Tax withholding payments on behalf of employees | 0 | 0 | 0 | |
Proceeds from employee stock plans | 0 | 0 | 0 | |
Debt issuance costs | 0 | |||
Dividend distribution to consolidated subsidiaries | 0 | 0 | 0 | |
Payments for Repurchase of Common Stock | 0 | 0 | ||
Other financing activities | 0 | 0 | ||
Equity contribution | 0 | 0 | 0 | |
Borrowings (repayments) of intercompany notes | 0 | (2) | 0 | |
Payments to Noncontrolling Interests | 0 | |||
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | 0 | (2) | 0 | |
Net cash used in discontinued operations operating activities | 0 | 0 | 0 | |
Effect of Exchange Rate changes on cash and cash equivalents | 0 | 1 | (13) | |
Decrease in cash, cash equivalents, and restricted cash | (3) | (1) | (8) | |
Restricted Cash | 0 | 0 | 0 | |
Cash and cash equivalents | 8 | 11 | 12 | 20 |
Non-Guarantor Subsidiaries [Member] | ||||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 375 | 483 | 723 | |
Expenditures for property, plant and equipment | (34) | (41) | (40) | |
Proceeds from Sale of property, plant, and equipment | (2) | (6) | ||
Proceeds from Collection of (Payments to Fund) Long-term Loans to Related Parties | 0 | 2 | ||
Additions to capitalized software | (26) | (33) | (40) | |
Business acquisitions, net | 0 | 0 | ||
Proceeds from (payment of) of intercompany notes | 0 | |||
Proceeds from divestiture | 0 | 25 | ||
Investments in equity affiliates | 0 | 0 | 0 | |
Other investing activities, net | 0 | 4 | 0 | |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | (58) | (62) | (55) | |
Short term borrowings, net | 0 | 1 | (4) | |
Proceeds from Issuance of Secured Debt | 0 | |||
Payments on term credit facilities | 0 | (5) | (8) | |
Payments on revolving credit facilities | (478) | (240) | (280) | |
Borrowings on revolving credit facilities | 578 | 240 | 280 | |
Tax withholding payments on behalf of employees | 0 | 0 | 0 | |
Proceeds from employee stock plans | 0 | 0 | 0 | |
Debt issuance costs | 0 | |||
Dividend distribution to consolidated subsidiaries | (18) | (10) | (53) | |
Payments for Repurchase of Common Stock | 0 | 0 | ||
Other financing activities | (2) | (2) | ||
Equity contribution | 14 | (3) | 9 | |
Borrowings (repayments) of intercompany notes | (363) | (410) | (464) | |
Payments to Noncontrolling Interests | 0 | |||
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (267) | (429) | (522) | |
Net cash used in discontinued operations operating activities | 0 | 0 | 0 | |
Effect of Exchange Rate changes on cash and cash equivalents | (24) | 15 | (16) | |
Decrease in cash, cash equivalents, and restricted cash | 26 | 7 | 130 | |
Restricted Cash | 11 | 6 | 9 | |
Cash and cash equivalents | 461 | 435 | 428 | 298 |
Consolidation, Eliminations [Member] | ||||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | (18) | (10) | (3) | |
Expenditures for property, plant and equipment | 0 | 0 | 0 | |
Proceeds from Sale of property, plant, and equipment | 0 | 0 | ||
Proceeds from Collection of (Payments to Fund) Long-term Loans to Related Parties | (363) | (412) | ||
Additions to capitalized software | 0 | 0 | 0 | |
Business acquisitions, net | 0 | 0 | ||
Proceeds from (payment of) of intercompany notes | (480) | |||
Proceeds from divestiture | 0 | 0 | ||
Investments in equity affiliates | 14 | (3) | (41) | |
Other investing activities, net | 0 | 0 | 0 | |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | (349) | (415) | (521) | |
Short term borrowings, net | 0 | 0 | 0 | |
Proceeds from Issuance of Secured Debt | 0 | |||
Payments on term credit facilities | 0 | 0 | 0 | |
Payments on revolving credit facilities | 0 | 0 | 0 | |
Borrowings on revolving credit facilities | 0 | 0 | 0 | |
Tax withholding payments on behalf of employees | 0 | 0 | 0 | |
Proceeds from employee stock plans | 0 | 0 | 0 | |
Debt issuance costs | 0 | |||
Dividend distribution to consolidated subsidiaries | 18 | 10 | 53 | |
Payments for Repurchase of Common Stock | 0 | 0 | ||
Other financing activities | 0 | 0 | ||
Equity contribution | (14) | 3 | (9) | |
Borrowings (repayments) of intercompany notes | 363 | 412 | 480 | |
Payments to Noncontrolling Interests | 0 | |||
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | 367 | 425 | 524 | |
Net cash used in discontinued operations operating activities | 0 | 0 | 0 | |
Effect of Exchange Rate changes on cash and cash equivalents | 0 | 0 | 0 | |
Decrease in cash, cash equivalents, and restricted cash | 0 | 0 | 0 | |
Restricted Cash | 0 | 0 | 0 | |
Cash and cash equivalents | $ 0 | $ 0 | $ 0 | $ 0 |
Quarterly Information (unaudi_3
Quarterly Information (unaudited) Narrative (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Effect of Fourth Quarter Events [Line Items] | |||||||||||
Income (loss) from operations | $ 63 | $ 125 | $ (106) | $ 109 | $ 202 | $ 199 | $ 175 | $ 115 | $ 191 | $ 691 | $ 674 |
Net income (loss) attributable to NCR | $ (60) | $ 72 | $ (157) | $ 8 | $ (56) | $ 106 | $ 90 | $ (17) | $ (88) | $ 232 | $ 270 |
Net income (loss) per common share | |||||||||||
Basic (in dollars per share) | $ (0.51) | $ 0.61 | $ (1.33) | $ 0.07 | $ (0.46) | $ 0.87 | $ 0.74 | $ (0.14) | $ (1.16) | $ 1.01 | $ 1.76 |
Diluted (in dollars per share) | $ (0.51) | $ 0.56 | $ (1.33) | $ 0.06 | $ (0.46) | $ 0.77 | $ 0.67 | $ (0.14) | $ (1.16) | $ 0.97 | $ 1.71 |
Defined benefit plans, actuarial gains (losses) [Member] | |||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||
Net income (loss) attributable to NCR | $ 44 | $ (25) | |||||||||
Net income (loss) per common share | |||||||||||
Basic (in dollars per share) | $ 0.37 | $ 0.21 | |||||||||
Diluted (in dollars per share) | $ 0.37 | $ 0.21 |
Quarterly Information (unaudi_4
Quarterly Information (unaudited) Statement of Operations (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenues | $ 1,801 | $ 1,550 | $ 1,537 | $ 1,517 | $ 1,782 | $ 1,663 | $ 1,593 | $ 1,478 | $ 6,405 | $ 6,516 | $ 6,543 |
Gross Profit | 442 | 410 | 403 | 420 | 510 | 472 | 461 | 412 | |||
Income (loss) from operations | 63 | 125 | (106) | 109 | 202 | 199 | 175 | 115 | 191 | 691 | 674 |
Income from continuing operations | (35) | 118 | 97 | 57 | (36) | 237 | 283 | ||||
Income (loss) from discontinued operations, net of tax | (14) | (1) | (2) | (35) | (10) | 0 | 5 | 0 | (52) | (5) | (13) |
Net income (loss) attributable to NCR | $ (60) | $ 72 | $ (157) | $ 8 | $ (56) | $ 106 | $ 90 | $ (17) | $ (88) | $ 232 | $ 270 |
From continuing operations (in dollars per share) | $ (0.39) | $ 0.62 | $ (1.31) | $ 0.36 | $ (0.38) | $ 0.87 | $ 0.70 | $ (0.14) | $ (0.72) | $ 1.05 | $ 1.86 |
From continuing operations (in dollars per share) | (0.39) | 0.57 | (1.31) | 0.35 | (0.38) | 0.77 | 0.64 | (0.14) | (0.72) | 1.01 | 1.80 |
Net income per common share: | |||||||||||
Basic (in dollars per share) | (0.51) | 0.61 | (1.33) | 0.07 | (0.46) | 0.87 | 0.74 | (0.14) | (1.16) | 1.01 | 1.76 |
Diluted (in dollars per share) | $ (0.51) | $ 0.56 | $ (1.33) | $ 0.06 | $ (0.46) | $ 0.77 | $ 0.67 | $ (0.14) | $ (1.16) | $ 0.97 | $ 1.71 |