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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 642 $ 534
Accounts receivable, less allowances [1] 632 645
Inventories 704 715
Product loans receivable, current [2] 311 300
Other current assets 146 193
Total current assets 2,436 2,388
Property, plant and equipment – net 2,084 2,055
Goodwill 819 820
Intangible assets – net 48 49
Deferred income taxes 6 6
Equity method investments 168 162
Other noncurrent assets 188 192
Total assets 5,748 5,673
Current liabilities:    
Accounts payable [3] 910 909
Current portion of long-term debt 6 4
Product loans payable, current [2] 331 320
Finance lease liabilities, current 14 14
Accrued and other current liabilities [4] 444 467
Total current liabilities 1,705 1,713
Long-term debt 1,965 1,968
Deferred income taxes 237 233
Product loans payable, noncurrent 16 16
Finance lease liabilities, noncurrent 100 104
Other noncurrent liabilities 254 262
Total liabilities 4,275 4,296
Commitments and Contingencies
EQUITY    
Common stock (par value $0.01 per share; 500,000,000 shares authorized; 158,795,531 shares issued and outstanding at March 31, 2026; 158,747,196 shares issued and outstanding at December 31, 2025) 2 2
Additional paid-in capital 1,500 1,495
Accumulated other comprehensive loss (128) (127)
Retained earnings 113 41
Total Solstice Advanced Materials shareowners’ equity 1,486 1,411
Noncontrolling interest (14) (34)
Total equity 1,473 1,377
Total liabilities and equity $ 5,748 $ 5,673
[1] Accounts receivable include related party receivables of $40 million and $45 million as of March 31, 2026 and December 31, 2025, respectively.
[2] Product loans receivable, current include related party loans receivables of $184 million and $178 million as of March 31, 2026 and December 31, 2025, respectively.
[3] Accounts payable include related party accounts payables of $6 million and $2 million as of March 31, 2026 and December 31, 2025, respectively.
[4] Accrued and other liabilities, current include related party payables of $71 million and $69 million as of March 31, 2026 and December 31, 2025, respectively.