v3.25.1
SUPPLEMENTAL FINANCIAL INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Cash and Cash Equivalents
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH.
As of
March 31, 2025December 31, 2024
Cash and cash equivalents
$2,454 $2,874 
Short-term restricted cash19 16 
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Financial Position
2,473 2,889 
Long-term restricted cash(1)
3 3 
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Cash Flows
$2,476 $2,893 
(1) Long-term restricted cash is recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.
Schedule of Restricted Cash and Cash Equivalents
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH.
As of
March 31, 2025December 31, 2024
Cash and cash equivalents
$2,454 $2,874 
Short-term restricted cash19 16 
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Financial Position
2,473 2,889 
Long-term restricted cash(1)
3 3 
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Cash Flows
$2,476 $2,893 
(1) Long-term restricted cash is recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.
Schedule of Inventory
INVENTORIES.
As of
March 31, 2025December 31, 2024
Raw materials$991 $921 
Work in process99 92 
Finished goods1,068 926 
Inventories
$2,158 $1,939 
Summary of Property, Plant and Equipment
PROPERTY, PLANT, AND EQUIPMENT – NET.
As of
March 31, 2025December 31, 2024
Land and improvements
$146 $66 
Buildings, structures, and related equipment
2,107 1,943 
Machinery and equipment
2,905 2,705 
Leasehold improvements and manufacturing plants under construction
503 553 
Total property, plant, and equipment, at original cost
5,661 5,267 
Accumulated depreciation
(3,179)(3,080)
Right-of-use operating lease assets, net of amortization
369 364 
Property, plant, and equipment – net
$2,851 $2,550 
Schedule of Other Current Assets
All Other Current Assets
As of
March 31, 2025December 31, 2024
Prepaid expenses and deferred costs
$249 $188 
Financing receivables – net
90 90 
Derivative instruments(1)
100 123 
Tax receivables
116 115 
Other(2)
46 16 
All other current assets
$601 $532 
(1) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.
(2) Current assets Other primarily represents indemnity assets associated with separation agreements with GE as of March 31, 2025.
Schedule of Other Noncurrent Assets
All Other Non-Current Assets
As of
March 31, 2025December 31, 2024
Prepaid pension asset
$723 $657 
Equity method and other investments
235 373 
Financing receivables – net
186 183 
Long-term receivables – net
161 142 
Inventories
143 139 
Contract and other deferred assets
213 208 
Capitalized cloud computing arrangement implementation costs113 84 
Other(3)
152 164 
All other non-current assets
$1,926 $1,950 
(3) Non-current assets Other primarily consists of indemnity assets associated with separation agreements with GE, derivative instruments, and tax receivables.
Schedule of Other Current Liabilities
All Other Current Liabilities
As of
March 31, 2025December 31, 2024
Sales allowances and related liabilities
$221 $242 
Income and indirect tax liabilities including uncertain tax positions
286 279 
Product warranties
171 168 
Accrued freight and utilities
154 163 
Operating lease liabilities
119 115 
Derivative instruments(1)
120 90 
Interest payable on borrowings
141 92 
Environmental and asset retirement obligations
17 17 
Other(4)
355 386 
All other current liabilities
$1,583 $1,552 
(1) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.
(4) Current liabilities Other primarily consists of miscellaneous accrued costs, contingent consideration liabilities, and dividends payable to stockholders.
Schedule of Other Noncurrent Liabilities
All Other Non-Current Liabilities
As of
March 31, 2025December 31, 2024
Contract liabilities
$724 $686 
Operating lease liabilities266 270 
Environmental and asset retirement obligations395 291 
Income and indirect tax liabilities including uncertain tax positions
170 237 
Derivative instruments(1)
39 64 
Finance lease obligations
40 40 
Sales allowances and related liabilities
24 23 
Other(5)
182 184 
All other non-current liabilities
$1,840 $1,796 
(1) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.
(5) Non-current liabilities Other primarily consists of miscellaneous accrued costs, indemnity liabilities associated with separation agreements with GE, and contingent consideration liabilities.
Schedule of Redeemable Noncontrolling Interest
Activity attributable to redeemable noncontrolling interests is presented below.
For the three months ended March 31
20252024
Balance at beginning of period$188 $165 
Net income attributable to redeemable noncontrolling interests
24 11 
Balance at end of period $211 $177 
Schedule of Other Income (Expense)
OTHER INCOME (EXPENSE) – NET.
For the three months ended March 31
20252024
Net financing income and investment income (loss)
$(1)$(16)
Equity method income (loss)
3 1 
Change in fair value of assumed obligations
(8)(8)
Gain on remeasurement of NMP equity method investment(1)
97 — 
Other items, net(2)
8 14 
Total other income (expense) – net
$99 $(8)
(1) Refer to Note 7, “Acquisitions, Goodwill, and Other Intangible Assets” for additional information on the NMP acquisition.
(2) Other items, net primarily consists of licensing and royalty income, lease income, change in tax indemnities, and gains and losses related to derivatives. Additionally, for the three months ended March 31, 2025 it includes a realization of a gain contingency.