v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 759 $ 734
Trade receivables, net of allowances of $31 million and $30 million at December 31, 2025 and 2024, respectively 601 572
Inventories 1,002 963
Prepaid expenses and other current assets 239 209
Total current assets 2,601 2,478
Other assets:    
Equity investments 735 661
Pension assets 128 92
Other assets 657 608
Intangibles, net 188 198
Goodwill 1,487 1,321
Total other assets 3,195 2,880
Property, plant and equipment:    
Land, at cost 227 208
Buildings and equipment, at cost:    
Buildings and building equipment 1,376 1,146
Factory machinery and equipment 6,326 5,527
Transportation, office and miscellaneous equipment 92 73
Construction in progress 362 834
Property, plant and equipment, at cost 8,383 7,788
Less accumulated depreciation 4,936 4,492
Net property, plant and equipment 3,447 3,296
Total assets 9,243 8,654
Current liabilities:    
Accounts payable 1,201 1,142
Salaries and wages 159 121
U.S. and foreign income taxes 41 49
Restructuring 131 75
Other accrued liabilities 395 357
Short-term loans 96 110
Long-term debt due within one year 66 306
Total current liabilities 2,089 2,160
Long-term debt 4,837 4,553
Deferred taxes 75 74
Pension benefits 202 193
Nonpension postretirement benefits 49 62
Other liabilities 546 407
Share owners' equity of the Company:    
Common stock, par value $.01 per share, 250,000,000 shares authorized, 183,530,836 and 184,851,162 shares issued (including treasury shares), respectively 2 2
Capital in excess of par value 3,031 3,053
Treasury stock, at cost, 30,558,356 and 30,783,642 shares, respectively (667) (677)
Retained earnings 548 676
Accumulated other comprehensive loss (1,620) (1,975)
Total share owners' equity of the Company 1,294 1,079
Noncontrolling interests 151 126
Total share owners' equity 1,445 1,205
Total liabilities and share owners' equity $ 9,243 $ 8,654