secwatch.observer — SEC 8-K summary
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Issuer:     Kyndryl Holdings, Inc. (KD)
CIK:        0001867072
Form:       8-K
Filed at:   2022-05-26T23:59:59+00:00
Accession:  0001558370-22-009416
Event type: other_material
Sentiment:  neutral
Materiality: 0.25
Item codes: 7.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Kyndryl revises prior financials for $87M over-accrual; updates segment EBITDA allocation
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- Corrected $87M over-accrual in accrued contract costs from 2012-2021; immaterial revision to 2021 Annual Report and prior periods.
- Updated allocation methodologies for segment adjusted EBITDA; no change to total reported adjusted EBITDA.
- Revenue $18.7B in 2021, down 4% YoY; net loss $2.3B includes $469M goodwill impairment and $627M transaction-related costs.
- Adjusted EBITDA $2.1B in 2021, down 5% from $2.2B in 2020.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1867072/000155837022009416/0001558370-22-009416-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1867072/000155837022009416/kd-20220526xex99d1.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-009416

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer