$NATL

NCR Atleos Corp

CIK:0001974138|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenue	$ 1,103	$ 1,102	$ 2,146	$ 2,081
Selling, general and administrative expenses	133	116	263	238
Research and development expenses	20	17	40	34
Total operating expenses	947	983	1,906	1,869
Income from operations	156	119	240	212
Interest expense	(62)	(69)	(125)	(136)
Other income (expense), net	(4)	7	8	3
Income before income taxes	90	57	123	79
Income tax expense	25	19	36	28
Net income	65	38	87	51
Net loss attributable to noncontrolling interests	0	(1)	0	(2)
Net income attributable to Atleos	$ 65	$ 39	$ 87	$ 53
Net income per common share
Basic (in dollars per share)	$ 0.88	$ 0.53	$ 1.18	$ 0.72
Diluted (in dollars per share)	$ 0.86	$ 0.52	$ 1.15	$ 0.71
Weighted average common shares outstanding
Basic (in shares)	73.8	73.5	73.7	73.3
Diluted (in shares)	75.8	74.9	75.7	75.1
Product
Total revenue	$ 248	$ 265	$ 469	$ 454
Cost of products and services	181	217	369	377
Services
Total revenue	855	837	1,677	1,627
Cost of products and services	$ 613	$ 633	$ 1,234	$ 1,220

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income	$ 87	$ 51
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and Amortization expense	142	141
Stock-based compensation expense	17	17
Pension, postretirement and postemployment benefit (income) expense	(16)	(2)
Impairment of other assets	1	0
Deferred income taxes	(2)	3
(Gain) loss on divestiture and disposal of assets, net	(2)	(27)
Loss from equity investments	2	1
Changes in assets and liabilities:
Receivables	(55)	(64)
Inventories	(35)	(107)
Current payables and accrued expenses	(34)	5
Contract liabilities	26	70
Employee benefit plans	(35)	(12)
Settlement assets and liabilities, net	(4)	95
Other assets and liabilities	(71)	(73)
Net cash provided by operating activities	21	98
Investing activities
Capital expenditures	(53)	(50)
Additions to capitalized software	(21)	(26)
Business acquisitions, net of cash acquired	(1)	0
Proceeds from sale of property, plant and equipment	11	24
Proceeds from divestiture	12	11
Sale of investments	0	4
Net cash (used in) investing activities	(52)	(37)
Financing activities
Payments on term credit facilities	(72)	(59)
Borrowings on revolving credit facilities	440	440
Payments on revolving credit facilities	(330)	(425)
Proceeds from employee stock plans	0	7
Tax withholding payments on behalf of employees	(7)	(8)
Payments on acquisition holdback	(10)	(16)
Repurchases of common stock	(16)	0
Principal payments for finance lease obligations	(4)	(2)
Other financing activities	(7)	(3)
Net cash (used in) financing activities	(6)	(66)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(2)	12
Increase (decrease) in cash, cash equivalents, and restricted cash	(39)	7
Cash, cash equivalents, and restricted cash at beginning of period	644	641
Cash, cash equivalents, and restricted cash at end of period	$ 605	$ 648

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 429	$ 456
Accounts receivable, net of allowances of $13 and $12 as of June 30, 2026 and December 31, 2025, respectively	601	550
Inventories	351	342
Restricted cash	164	175
Other current assets	303	301
Total current assets	1,848	1,824
Property, plant and equipment, net	524	511
Goodwill	1,957	1,958
Intangibles, net	451	498
Operating lease right of use assets	180	177
Prepaid pension cost	263	259
Deferred income tax assets	279	288
Other assets	162	153
Total assets	5,664	5,668
Current liabilities
Short-term borrowings	84	86
Accounts payable	597	617
Payroll and benefits liabilities	104	139
Contract liabilities	408	383
Settlement liabilities	183	184
Other current liabilities	426	490
Total current liabilities	1,802	1,899
Long-term borrowings	2,711	2,672
Pension and indemnity plan liabilities	302	313
Postretirement and postemployment benefits liabilities	42	43
Income tax accruals	26	24
Operating lease liabilities	141	139
Deferred income tax liabilities	37	41
Other liabilities	139	135
Total liabilities	5,200	5,266
Commitments and Contingencies (Note 8)
Stockholders’ equity
Preferred stock: par value $0.01 per share, 50.0 shares authorized, no shares issued	0	0
Common stock: par value $0.01 per share, 350.0 shares authorized, 73.8 and 73.7 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	1	1
Paid-in Capital	75	65
Retained earnings	371	299
Accumulated other comprehensive income	17	38
Total Atleos stockholders’ equity	464	403
Noncontrolling interests in subsidiaries	0	(1)
Total stockholders’ equity	464	402
Total liabilities and stockholders’ equity	$ 5,664	$ 5,668