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SUBSEQUENT EVENTS | 9 Months Ended
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Sep. 30, 2025
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Separation On the Separation and Distribution Date, DuPont completed the Separation of the Company through the Distribution. After the Distribution, the Company began publicly trading on the New York Stock Exchange, under the ticker "Q", on November 3, 2025. As part of the Separation, the Company underwent an internal reorganization that resulted in it becoming the holder, directly or through its subsidiaries, of the ElectronicsCo business held by DuPont prior to the Separation and Distribution Date. On the Separation and Distribution Date, the net proceeds from the Secured and Unsecured Notes issuance and borrowings under the Senior Secured Term Loan Facility, as well as cash on hand were used to fund the distribution to DuPont on the Separation and Distribution Date in the amount of $4,122 million, inclusive of $1,000 million and $750 million net proceeds from the Secured and Unsecured Notes, respectively, $2,350 million net proceeds from the Senior Secured Term Loan Facility and $22 million of costs related to the Secured and Unsecured Notes. In addition, the Company distributed pre-funded interest on the Notes through March 31, 2026 of $66 million (and investment returns on amounts held in escrow in respect of the Secured and Unsecured Notes issuance of $15 million). See Note 12 to the unaudited interim Combined Financial Statements for additional information on the Secured and Unsecured Notes issuances and borrowings under the Senior Secured Term Loan Facility. Separation Agreements In connection with the Separation, DuPont and the Company entered into a certain agreements that will effect separation, the allocation of assets and liabilities to DuPont and the Company and provide a framework for the relationship following the Separation and Distribution. Effective on the Separation and Distribution Date, the following agreements were executed: •the Separation and Distribution Agreement; •the Tax Matters Agreement; •the Employee Matters Agreement; •the Transition Services Agreements; •the ESL Cost Sharing Agreement; and •other agreements governing aspects of the Company’s relationship with DuPont following the Separation including the Intellectual Property Cross-License Agreement and Legacy Liabilities Assignment Agreement, among others. In connection with the Separation, certain assets and liabilities have been or will be contractually allocated to the Company from DuPont, including legacy liabilities and indemnifications as outlined within the agreements noted above. These amounts are expected to be material and will be reflective of operations through the Separation and Distribution Date. The amounts are being finalized and will be reflected as liabilities in the Company's December 31, 2025 balance sheet.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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