v3.26.1
CONDENSED COMBINED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 282 $ 276
Accounts receivable, net (Note 2) 1,829 1,567
Inventories (Note 4) 784 772
Other current assets (Note 5) 251 158
Total current assets 3,146 2,773
Long-term assets:    
Property, net 896 901
Operating lease right-of-use assets 182 168
Investments in affiliates (Note 6) 142 143
Intangible assets, net (Note 2) 7 7
Deferred tax assets 402 384
Other long-term assets (Note 5) 134 109
Total long-term assets 1,763 1,712
Total assets 4,909 4,485
Current liabilities:    
Short-term debt (Note 10) 67 58
Accrued liabilities (Note 7) 676 578
Total current liabilities 2,275 2,166
Long-term liabilities:    
Long-term debt (Note 10) 2,074 3
Pension benefit obligations 207 217
Long-term operating lease liabilities 137 130
Other long-term liabilities (Note 7) 73 121
Total long-term liabilities 2,491 471
Total liabilities 4,766 2,637
Commitments and contingencies (Note 12)
Net parent equity:    
Net parent investment 164 1,925
Accumulated other comprehensive loss (Note 14) (212) (268)
Total parent (deficit) equity (48) 1,657
Noncontrolling interest 191 191
Total invested equity 143 1,848
Total liabilities and invested equity 4,909 4,485
Nonrelated Party    
Current assets:    
Accounts receivable, net (Note 2) 1,713 1,518
Current liabilities:    
Accounts payable 1,362 1,358
Related Party    
Current assets:    
Accounts receivable, net (Note 2) 116 49
Current liabilities:    
Accounts payable $ 170 $ 172