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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 861 $ 875
Accounts receivable, net of allowance for doubtful accounts of $7 and $6 at September 30, 2024 and December 31, 2023, respectively 609 603
Inventories 940 991
Other current assets 258 227
Total current assets 2,668 2,696
Property, plant and equipment, net 770 784
Right-of-use assets, net 247 225
Goodwill 2,567 2,554
Intangible assets, net 2,443 2,619
Other assets 328 240
Total assets 9,023 9,118
Current liabilities:    
Short-term debt 50 93
Accounts payable 306 327
Other current liabilities 425 428
Total current liabilities 781 848
Long-term debt, net 4,758 4,696
Non-current deferred taxes 590 640
Non-current accrued compensation 154 151
Non-current lease liabilities 216 205
Other non-current liabilities 126 106
Total liabilities 6,625 6,646
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Preferred stock, $0.01 par value per share, 2,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, no par value, 200,000,000 shares authorized; 67,298,941 and 66,942,421 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 0 0
Additional paid-in capital 2,053 2,195
Retained earnings 428 373
Accumulated other comprehensive (loss) income (83) (96)
Total stockholders’ equity 2,398 2,472
Total liabilities and stockholders’ equity $ 9,023 $ 9,118