v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,276 $ 1,479
Receivables, less allowances for discounts, returns and credit losses of $54 and $68 in 2026 and 2025, respectively 1,875 1,759
Inventories 1,016 983
Prepaid and other current assets 219 244
Assets held for sale 8 176
Total current assets 4,394 4,641
Property, plant and equipment, net 1,167 1,159
Goodwill 8,256 8,332
Other intangible assets, net 2,150 2,272
Other non-current assets 1,375 1,230
Total assets 17,342 17,634
Current liabilities:    
Accounts payable 1,013 1,013
Accrued and other current liabilities 1,180 1,237
Short-term borrowings and current maturities of long-term debt 531 534
Liabilities held for sale 0 72
Total current liabilities 2,724 2,856
Long-term debt 2,395 1,408
Accrued post-retirement benefit obligations 301 317
Deferred income tax liabilities 446 405
Other non-current accrued liabilities 810 899
Total liabilities 6,676 5,885
Commitments and contingencies (Note 18)
Redeemable non-controlling interest 242 258
Stockholders’ equity:    
Authorized 750.0 shares, issued 260.3 shares and 259.9 shares in 2026 and 2025, respectively 3 3
Capital in excess of par value 8,787 8,759
Retained earnings 3,956 3,706
Treasury stock – at cost 26.8 shares and 16.3 shares in 2026 and 2025, respectively (2,023) (768)
Accumulated other comprehensive loss (302) (220)
Total stockholders’ equity 10,421 11,480
Non-controlling interests 3 11
Total equity 10,424 11,491
Total liabilities, redeemable non-controlling interest, and stockholders’ equity $ 17,342 $ 17,634