Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,817 $ 905
Trade and other receivables, net of allowance for credit losses of $74 million and $91 million, respectively 840 1,143
Inventories 1,190 1,061
Other current assets 206 190
Total current assets 4,053 3,299
Property and equipment, net of accumulated depreciation of $993 million and $958 million, respectively 407 502
Intangible assets not subject to amortization (note 6):    
Goodwill 821 2,217
Tradenames 1,190 2,120
Intangible assets not subject to amortization, total 2,011 4,337
Intangible assets subject to amortization, net (note 6) 380 402
Operating lease right-of-use assets 578 600
Other assets, at cost, net of accumulated amortization 109 103
Assets held for sale noncurrent (note 10) 22 0
Total assets 7,560 9,243
Current liabilities:    
Accounts payable 660 776
Accrued liabilities 815 953
Current portion of debt, $82 million and $282 million measured at fair value (note 7) 82 867
Other current liabilities 68 128
Total current liabilities 1,625 2,724
Long-term debt (note 7) 5,811 4,101
Deferred income tax liabilities 1,138 1,313
Preferred stock (note 8) 1,272 1,272
Operating lease liabilities 586 598
Other liabilities 103 120
Total liabilities 10,535 10,128
Stockholders' equity:    
Additional paid-in capital 141 138
Accumulated other comprehensive earnings (loss), net of taxes 283 (15)
Retained earnings (accumulated deficit) (3,496) (1,094)
Total stockholders' equity (3,072) (971)
Noncontrolling interests in equity of subsidiaries 97 86
Total equity (2,975) (885)
Commitments and contingencies (note 10)
Total liabilities and equity 7,560 9,243
Series A common stock    
Stockholders' equity:    
Common stock value 0 0
Series B common stock    
Stockholders' equity:    
Common stock value 0 0
Series C common stock    
Stockholders' equity:    
Common stock value $ 0 $ 0