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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 705 $ 944
Receivables, less allowances for discounts, returns and credit losses of $55 and $50 in 2023 and 2022, respectively 1,653 1,096
Inventories 1,080 799
Prepaid and other current assets 213 173
Total current assets 3,651 3,012
Property, plant and equipment, net 1,132 630
Goodwill 7,149 2,719
Other intangible assets, net 3,039 930
Other non-current assets 934 661
Total assets 15,905 7,952
Current liabilities:    
Accounts payable 943 723
Accrued and other current liabilities 1,160 867
Short-term borrowings and current maturities of long-term debt 17 0
Total current liabilities 2,120 1,590
Long-term debt 2,253 1,880
Accrued post-retirement benefits 281 286
Deferred income tax liabilities 724 222
Other non-current accrued liabilities 586 471
Total liabilities 5,964 4,449
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Authorized 750.0 shares, issued 256.7 shares and 196.0 shares in 2023 and 2022, respectively 3 2
Capital in excess of par value 8,529 2,134
Retained earnings 2,416 2,292
Treasury stock – at cost 15.9 shares and 15.8 shares in 2023 and 2022, respectively (718) (708)
Accumulated other comprehensive loss (300) (226)
Total stockholders’ equity 9,930 3,494
Non-controlling interests 11 9
Total equity 9,941 3,503
Total liabilities and stockholders’ equity $ 15,905 $ 7,952