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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 880 $ 909
Short-term investments 1 1
Accounts receivable, net of allowance for doubtful accounts of $10 and $11 at March 31, 2023 and December 31, 2022, respectively 572 720
Inventories 1,058 977
Other current assets 237 187
Total current assets 2,748 2,794
Property, plant and equipment, net 794 800
Right-of-use assets, net 240 234
Goodwill 4,327 4,308
Intangible assets, net 3,108 3,173
Other assets 149 186
Total assets 11,366 11,495
Current liabilities:    
Short-term debt 88 93
Accounts payable 372 426
Other current liabilities 416 433
Total current liabilities 876 952
Long-term debt, net 4,837 4,834
Non-current deferred taxes 751 783
Non-current accrued compensation 138 138
Non-current lease liabilities 219 215
Other non-current liabilities 94 90
Total liabilities 6,915 7,012
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Preferred stock, $0.01 par value per share, 2 shares authorized; none issued and outstanding 0 0
Common stock, no par value, 200 shares authorized; 66.7 and 66.6 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively 0 0
Additional paid-in capital 2,154 2,142
Retained earnings 2,215 2,272
Accumulated other comprehensive income 82 69
Total stockholders’ equity 4,451 4,483
Total liabilities and stockholders’ equity $ 11,366 $ 11,495