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CONDENSED COMBINED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 417 $ 661
Accounts receivable, less allowances [1] 635 569
Inventories 732 558
Other current assets 94 73
Total current assets 1,878 1,861
Property, plant and equipment – net 1,947 1,746
Goodwill 820 806
Intangible assets – net 39 35
Deferred income taxes 2 3
Product loans receivable [2] 274 264
Investments 159 146
Other assets [3] 128 142
Total assets 5,247 5,004
Current liabilities:    
Accounts payable [4] 872 778
Finance lease liability, current 13 22
Accrued liabilities [5] 341 283
Total current liabilities 1,226 1,083
Deferred income taxes 174 179
Product loans payable 311 293
Finance lease liability, non-current 108 37
Other noncurrent liabilities 247 230
Total liabilities 2,066 1,822
Commitments and contingencies
EQUITY    
Net Parent investment 3,382 3,471
Accumulated other comprehensive loss (154) (213)
Total Net Parent investment 3,228 3,258
Noncontrolling interest (47) (76)
Total equity 3,181 3,182
Total liabilities and equity $ 5,247 $ 5,004
[1] Accounts receivable include related party receivables of $31 million and $40 million, as of September 30, 2025 and December 31, 2024, respectively.
[2] Product loans receivable include related party loans receivables of $162 million and $156 million as of September 30, 2025 and December 31, 2024, respectively.
[3] Other assets include related party long-term receivables of $0 million and $7 million as of September 30, 2025 and December 31, 2024, respectively.
[4] Accounts payable include related party accounts payables of $3 million and $3 million as of September 30, 2025 and December 31, 2024, respectively.
[5] Accrued liabilities include related party payables of $66 million and $60 million as of September 30, 2025 and December 31, 2024, respectively.