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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 859 $ 909
Short-term investments 1 1
Accounts receivable, net of allowance for doubtful accounts of $8 and $11 at September 30, 2023 and December 31, 2022, respectively 618 720
Inventories 1,009 977
Other current assets 288 187
Total current assets 2,775 2,794
Property, plant and equipment, net 761 800
Right-of-use assets, net 227 234
Goodwill 2,540 4,308
Intangible assets, net 2,614 3,173
Other assets 223 186
Total assets 9,140 11,495
Current liabilities:    
Short-term debt 87 93
Accounts payable 309 426
Other current liabilities 442 433
Total current liabilities 838 952
Long-term debt, net 4,787 4,834
Non-current deferred taxes 595 783
Non-current accrued compensation 139 138
Non-current lease liabilities 208 215
Other non-current liabilities 97 90
Total liabilities 6,664 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 September 30, 2023 and December 31, 2022, respectively 0 0
Additional paid-in capital 2,180 2,142
Retained earnings 455 2,272
Accumulated other comprehensive (loss) income (159) 69
Total stockholders’ equity 2,476 4,483
Total liabilities and stockholders’ equity $ 9,140 $ 11,495