XML 28 R17.htm IDEA: XBRL DOCUMENT v3.25.1

Inventories

3 Months Ended

Mar. 31, 2025

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of:

($ in millions)			March 31, 2025						December 31, 2024
Finished goods			$	777					$	764
Raw materials			26						25
Work in process			688						675
Supplies			81						79
Total (approximates current cost)			$	1,572					$	1,543
Decrease to last in, first out (“LIFO”) costs			(3)						(7)
			$	1,569					$	1,536
Recognized as:
Inventories			$	1,362					$	1,321
Other assets			207						215
Inventories valued under the LIFO method			145						133

Amounts recognized as Other assets are comprised primarily of raw materials and work in process inventories and are not expected to be converted to finished goods that will be sold within one year. The Company has long-term vendor supply contracts that include certain annual minimum purchase commitments.

As part of the Dermavant acquisition, the Company acquired $97 million of inventory, which includes a $63 million purchase accounting inventory fair value adjustment. As of March 31, 2025 and December 31, 2024, there was $47 million and $56 million, respectively, remaining in inventory related to the fair value adjustment.

X

- References

No definition available.

+ Details

Name:	us-gaap_InventoryDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

+ Details

Name:	us-gaap_InventoryDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration