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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 655 $ 714
Trade accounts receivable, net of allowance for doubtful accounts of $6 and $5 at March 31, 2025 and December 31, 2024, respectively 639 615
Inventories 894 893
Other current assets 238 252
Total current assets 2,426 2,474
Property, plant and equipment, net 774 771
Right-of-use assets 239 238
Goodwill 2,496 2,479
Intangible assets, net 2,238 2,272
Other assets 383 356
Total assets 8,556 8,590
Current liabilities:    
Short-term debt 50 50
Accounts payable 323 341
Other current liabilities 408 384
Total current liabilities 781 775
Long-term debt, net 4,409 4,488
Non-current deferred taxes 502 504
Non-current accrued compensation 139 141
Non-current lease liabilities 211 211
Other non-current liabilities 160 149
Total liabilities 6,202 6,268
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Preferred stock, $0.01 par value, 2 shares authorized; no shares issued and outstanding
Common stock, no par value, 200 shares authorized; 66.9 and 67.4 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 0 0
Additional paid-in capital 2,067 2,067
Retained earnings 512 503
Accumulated other comprehensive loss (225) (248)
Total stockholders’ equity 2,354 2,322
Total liabilities and stockholders’ equity $ 8,556 $ 8,590