Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,972 $ 905
Trade and other receivables, net of allowance for credit losses of $79 million and $91 million, respectively 1,040 1,143
Inventories 972 1,061
Other current assets 239 190
Total current assets 4,223 3,299
Property and equipment, net of accumulated depreciation of $974 million and $958 million respectively 401 502
Intangible assets not subject to amortization (note 5):    
Goodwill 800 2,217
Tradenames 1,190 2,120
Intangible assets not subject to amortization 1,990 4,337
Intangible assets subject to amortization, net (note 5) 336 402
Operating lease right-of-use assets 570 600
Other assets 106 103
Assets held for sale noncurrent (note 14) 17 0
Total assets 7,643 9,243
Current liabilities:    
Accounts payable 701 776
Accrued liabilities 801 953
Current portion of debt 5,075 867
Other current liabilities 97 128
Total current liabilities 6,674 2,724
Long-term debt (note 6) 790 4,101
Deferred income tax liabilities (note 8) 1,144 1,313
Preferred stock (note 9) 1,366 1,272
Operating lease liabilities (note 7) 580 598
Other liabilities 106 120
Total liabilities 10,660 10,128
Stockholders' equity (note 9):    
Additional paid-in capital 142 138
Accumulated other comprehensive earnings (loss), net of taxes 291 (15)
Retained earnings (accumulated deficit) (3,533) (1,094)
Total stockholders' equity (deficit) (3,100) (971)
Noncontrolling interests in equity of subsidiaries 83 86
Total equity (3,017) (885)
Commitments and contingencies (note 14)
Total liabilities and equity 7,643 9,243
Series A    
Stockholders' equity (note 9):    
Common stock value 0 0
Series B    
Stockholders' equity (note 9):    
Common stock value 0 0
Series C    
Stockholders' equity (note 9):    
Common stock value $ 0 $ 0