v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 328 $ 647
Accounts receivable, net 324 334
Contract assets 975 931
Inventories 371 352
Prepaid expenses 27 26
Other current assets 31 36
Total current assets 2,056 2,326
Noncurrent assets:    
Property, plant and equipment, net 512 512
Intangible assets, net 106 112
Goodwill 1,238 1,238
Deferred tax assets 89 88
Other noncurrent assets 210 210
Total noncurrent assets 2,155 2,160
Total assets 4,211 4,486
Current liabilities:    
Short-term borrowings and current portion of long-term debt 11 26
Accounts payable 187 351
Contract liabilities 640 585
Other current liabilities 267 269
Total current liabilities 1,105 1,231
Noncurrent liabilities:    
Long-term debt 140 321
Pension and other postretirement benefit plan liabilities 32 35
Deferred tax liabilities 4 3
Other noncurrent liabilities 160 166
Total noncurrent liabilities 336 525
Commitments and contingencies (Note 12)
Stockholders' equity:    
Preferred stock, $0.01 par value: 10,000,000 shares authorized; none issued 0 0
Common stock, $0.01 par value: 350,000,000 shares authorized; 265,965,593 and 265,822,404 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 3 3
Additional paid-in capital 5,062 5,083
Accumulated deficit (2,253) (2,315)
Accumulated other comprehensive loss (42) (41)
Total stockholders' equity 2,770 2,730
Total liabilities and stockholders' equity $ 4,211 $ 4,486