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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 714 $ 875
Trade accounts receivable, net of allowance for doubtful accounts of $5 and $6 at December 31, 2024 and 2023, respectively 615 603
Inventories 893 991
Other current assets 252 227
Total current assets 2,474 2,696
Property, plant and equipment, net 771 784
Right-of-use assets 238 225
Goodwill 2,479 2,554
Intangible assets, net 2,272 2,619
Other assets 356 240
Total assets 8,590 9,118
Current liabilities:    
Short-term debt 50 93
Accounts payable 341 327
Other current liabilities 384 428
Total current liabilities 775 848
Long-term debt, net 4,488 4,696
Non-current deferred taxes 504 640
Non-current accrued compensation 141 151
Non-current lease liabilities 211 205
Other non-current liabilities 149 106
Total liabilities 6,268 6,646
Commitments and contingencies (Note 23)
Stockholders’ equity:    
Preferred stock, $0.01 par value, 2 shares authorized; no shares issued and outstanding
Common stock, no par value, 200 shares authorized; 67.4 and 66.9 shares issued and outstanding at December 31, 2024 and 2023, respectively 0 0
Additional paid-in capital 2,067 2,195
Retained earnings 503 373
Accumulated other comprehensive loss (248) (96)
Total stockholders’ equity 2,322 2,472
Total liabilities and stockholders' equity $ 8,590 $ 9,118