Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 833 $ 905
Trade and other receivables, net of allowance for credit losses of $89 million and $91 million, respectively 844 1,143
Inventory, net 1,184 1,061
Other current assets 165 190
Total current assets 3,026 3,299
Property and equipment, net of accumulated depreciation of $1,005 million and $958 million, respectively 478 502
Intangible assets not subject to amortization (note 5):    
Goodwill 2,243 2,217
Tradenames 2,120 2,120
Intangible assets not subject to amortization 4,363 4,337
Intangible assets subject to amortization, net (note 5) 419 402
Operating lease right-of-use assets 589 600
Other assets, at cost, net of accumulated amortization 106 103
Total assets 8,981 9,243
Current liabilities:    
Accounts payable 676 776
Accrued liabilities 811 953
Current portion of debt, $242 million and $282 million measured at fair value (note 6) 242 867
Other current liabilities 89 128
Total current liabilities 1,818 2,724
Long-term debt (note 6) 4,758 4,101
Deferred income tax liabilities 1,321 1,313
Preferred stock (note 7) 1,272 1,272
Operating lease liabilities 592 598
Other liabilities 113 120
Total liabilities 9,874 10,128
Stockholders' equity:    
Additional paid-in capital 136 134
Accumulated other comprehensive earnings (loss), net of taxes 73 (15)
Retained earnings (accumulated deficit) (1,194) (1,094)
Total stockholders' equity (981) (971)
Noncontrolling interests in equity of subsidiaries 88 86
Total equity (893) (885)
Commitments and contingencies (note 9)
Total liabilities and equity 8,981 9,243
Series A common stock    
Stockholders' equity:    
Common stock value 4 4
Series B common stock    
Stockholders' equity:    
Common stock value
Series C common stock    
Stockholders' equity:    
Common stock value