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Nature of Operations and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Reconciliation of Cash

Cash, cash equivalents and restricted cash reported in the Company’s balance sheet as of September 30, 2024, December 31, 2023, September 30, 2023 and December 31, 2022 were as follows:

(DOLLARS IN MILLIONS)			September 30, 2024						December 31, 2023						September 30, 2023						December 31, 2022
Current assets
Cash and cash equivalents			$	567					$	703					$	629					$	483
Cash and cash equivalents included in Assets held for sale			2						26						23						52
Restricted cash			—						6						10						10
Non-current assets
Restricted cash included in Other assets			—						—						—						7
Cash, cash equivalents and restricted cash			$	569					$	735					$	662					$	552

Schedule of Bad Debt Reserve

The following is a roll-forward of the Company’s allowances for bad debts for the nine months ended September 30, 2024 and 2023.

			Nine Months Ended September 30,
(DOLLARS IN MILLIONS)			2024						2023
Balance at January 1			$	52					$	53
Bad debt expense (reversals)			(8)						9
Write-offs			(17)						(6)
Foreign exchange (gains) losses			(1)						(1)
Balance at September 30			$	26					$	55

Schedule of Inventory, Current

The Company’s inventories consisted of the following:

(DOLLARS IN MILLIONS)			September 30, 2024						December 31, 2023
Raw materials			$	727					$	779
Work in process			384						406
Finished goods			1,089						1,292
Total			$	2,200					$	2,477

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