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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 322 $ 330
Receivables, net 2,205 1,993
Inventories, net 913 921
Prepaid expenses and accrued income 184 167
Other current assets 75 72
Total current assets 3,699 3,483
Property, plant and equipment, net 2,286 2,239
Operating lease right-of-use assets 168 158
Goodwill and intangible assets, net 1,380 1,375
Other non-current assets 581 548
Total assets 8,114 7,804
Liabilities and equity    
Short-term debt [1] 540 387
Accounts payable [2] 1,839 1,799
Accrued expenses 1,053 1,056
Operating lease liabilities - current 42 41
Other current liabilities 327 351
Total current liabilities 3,800 3,633
Long-term debt [1] 1,565 1,522
Pension liability 163 153
Operating lease liabilities - non-current 120 118
Other non-current liabilities 103 92
Total non-current liabilities 1,952 1,885
Common stock 80 80
Additional paid-in capital 900 910
Retained earnings 2,176 2,105
Accumulated other comprehensive loss [3] (652) (659)
Treasury stock (153) (160)
Total controlling interest's equity 2,351 2,276
Non-controlling interest 10 10
Total equity 2,361 2,285
Total liabilities and equity $ 8,114 $ 7,804
[1] Debt as reported in balance sheet.
[2] Amount of obligations confirmed under the Company's Supplier Finance Program that remains unpaid is reported as Accounts Payable in the Condensed Consolidated Balance Sheets. Amount of obligations outstanding as of March 31, 2025 and December 31, 2024 are $306 million and $335 million, respectively.
[3] Including cumulative translation adjustment as of March 31, 2025 and December 31, 2024 to the amount of $(617) million and $(629) million, respectively.