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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 757 $ 909
Short-term investments 1 1
Accounts receivable, net of allowance for doubtful accounts of $8 and $11 at June 30, 2023 and December 31, 2022, respectively 631 720
Inventories 1,036 977
Other current assets 303 187
Total current assets 2,728 2,794
Property, plant and equipment, net 777 800
Right-of-use assets, net 237 234
Goodwill 2,575 4,308
Intangible assets, net 2,728 3,173
Other assets 185 186
Total assets 9,230 11,495
Current liabilities:    
Short-term debt 88 93
Accounts payable 314 426
Other current liabilities 433 433
Total current liabilities 835 952
Long-term debt, net 4,819 4,834
Non-current deferred taxes 628 783
Non-current accrued compensation 143 138
Non-current lease liabilities 217 215
Other non-current liabilities 93 90
Total liabilities 6,735 7,012
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Preferred stock, $0.01 par value per share, 2 shares authorized; no shares issued and outstanding 0 0
Common stock, no par value, 200 shares authorized; 66.9 and 66.6 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 0 0
Additional paid-in capital 2,168 2,142
Retained earnings 431 2,272
Accumulated other comprehensive (loss) income (104) 69
Total stockholders’ equity 2,495 4,483
Total liabilities and stockholders’ equity $ 9,230 $ 11,495