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

3 Months Ended

Mar. 31, 2025

Accounting Policies [Abstract]

Reconciliation of Cash

Cash, cash equivalents and restricted cash reported in the Company’s balance sheet as of March 31, 2025, December 31, 2024, March 31, 2024 and December 31, 2023 were as follows:

(DOLLARS IN MILLIONS)			March 31, 2025						December 31, 2024						March 31, 2024						December 31, 2023
Current assets
Cash and cash equivalents			$	613					$	469					$	732					$	703
Cash and cash equivalents included in Assets held for sale			37						2						32						26
Restricted cash			—						—						7						6
Cash, cash equivalents and restricted cash			$	650					$	471					$	771					$	735

Schedule of Bad Debt Reserve

The following is a roll-forward of the Company’s allowances for bad debts for the three months ended March 31, 2025 and 2024:

			Three Months Ended March 31,
(DOLLARS IN MILLIONS)			2025			2024
Balance at January 1			$	26		$	52
Allowances (reversals) for bad debt expense			1			(5)
Write-offs			—			(9)
Foreign exchange			1			(1)
Balance at March 31			$	28		$	37

Schedule of Inventory, Current

The Company’s inventories consisted of the following:

(DOLLARS IN MILLIONS)			March 31, 2025						December 31, 2024
Raw materials			$	760					$	657
Work in process			380						368
Finished goods			1,109						1,108
Total			$	2,249					$	2,133

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