Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,684 $ 1,972
Trade and other receivables, net of allowance for credit losses of $75 million and $79 million, respectively 776 1,040
Inventories 1,004 972
Other current assets 284 239
Total current assets 3,748 4,223
Property and equipment, net of accumulated depreciation of $977 million and $974 million, respectively 384 401
Intangible assets not subject to amortization (note 5):    
Goodwill 782 800
Tradenames 1,190 1,190
Intangible assets not subject to amortization, total 1,972 1,990
Intangible assets subject to amortization, net (note 5) 298 336
Operating lease right-of-use assets 557 570
Other assets, at cost, net of accumulated amortization 99 106
Assets held for sale noncurrent (note 8) 17 17
Total assets 7,075 7,643
Current liabilities:    
Accounts payable 481 701
Accrued liabilities 629 801
Current portion of debt, $36 million and $52 million measured at fair value (note 6) 5,060 5,075
Other current liabilities 88 97
Total current liabilities 6,258 6,674
Long-term debt (note 6) 790 790
Deferred income tax liabilities 1,120 1,144
Preferred stock (note 7) 1,398 1,366
Operating lease liabilities 568 580
Other liabilities 95 106
Total liabilities 10,229 10,660
Stockholders' equity:    
Additional paid-in capital 142 142
Accumulated other comprehensive earnings (loss), net of taxes 203 291
Retained earnings (accumulated deficit) (3,580) (3,533)
Total stockholders' equity (deficit) (3,235) (3,100)
Noncontrolling interests in equity of subsidiaries 81 83
Total equity (3,154) (3,017)
Commitments and contingencies (note 8)
Total liabilities and equity 7,075 7,643
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