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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Cash and cash equivalents $ 198 $ 332
Accounts receivable, net 878 1,195
Inventories 1,400 1,531
Prepaid expenses and other current assets 299 296
Total current assets 2,775 3,354
Property, plant and equipment, net 1,157 1,212
Operating lease assets 466 515
Goodwill 3,038 3,071
Other intangible assets, net 2,008 2,488
Deferred income taxes 806 806
Other assets 754 717
Total assets 11,004 12,163
Liabilities:    
Accounts payable 891 1,003
Other accrued liabilities 1,459 1,565
Short-term debt and current portion of long-term debt 87 329
Total current liabilities 2,437 2,897
Long-term debt 4,508 4,575
Deferred income taxes 178 241
Operating lease liabilities 418 446
Other noncurrent liabilities 712 892
Total liabilities 8,253 9,051
Commitments and contingencies (Footnote 18)
Stockholders’ equity:    
Preferred stock (10.0 authorized shares, $1.00 par value, no shares issued at December 31, 2024 and 2023) 0 0
Common stock (800.0 authorized shares, $1.00 par value, 442.3 shares and 439.6 shares issued at December 31, 2024 and 2023, respectively) 442 440
Treasury stock, at cost (26.2 and 25.3 shares at December 31, 2024 and 2023, respectively) (634) (627)
Additional paid-in capital 6,866 6,915
Retained deficit (2,942) (2,726)
Accumulated other comprehensive loss (981) (890)
Total stockholders’ equity 2,751 3,112
Total liabilities and stockholders’ equity $ 11,004 $ 12,163