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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 237 $ 330
Receivables, net 2,341 1,993
Inventories, net 957 921
Prepaid expenses and accrued income 249 167
Other current assets 146 72
Total current assets 3,929 3,483
Property, plant and equipment, net 2,399 2,239
Operating lease right-of-use assets 171 158
Goodwill and intangible assets, net 1,389 1,375
Other non-current assets 588 548
Total assets 8,476 7,804
Liabilities and equity    
Short-term debt [1] 679 387
Accounts payable [2] 1,945 1,799
Accrued expenses 1,138 1,056
Operating lease liabilities - current 44 41
Other current liabilities 430 351
Total current liabilities 4,235 3,633
Long-term debt [1] 1,372 1,522
Pension liability 167 153
Operating lease liabilities - non-current 121 118
Other non-current liabilities 102 92
Total non-current liabilities 1,762 1,885
Common stock 79 80
Additional paid-in capital 890 910
Retained earnings 2,183 2,105
Accumulated other comprehensive loss [3] (534) (659)
Treasury stock (151) (160)
Total controlling interest's equity 2,469 2,276
Non-controlling interest 11 10
Total equity 2,480 2,285
Total liabilities and equity $ 8,476 $ 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 June 30, 2025 and December 31, 2024 are $339 million and $335 million, respectively.
[3] Including cumulative translation adjustment as of June 30, 2025 and December 31, 2024 to the amount of $(500) million and $(629) million, respectively.