CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 370	$ 359
Receivables, net	853	804
Inventories	475	473
Prepayments and other current assets	140	126
Total current assets	1,838	1,762
Property, plant and equipment, net	841	876
Investments and long-term receivables	158	145
Goodwill	509	509
Other intangible assets, net	376	398
Other non-current assets	120	127
Total assets	3,842	3,817
LIABILITIES AND EQUITY
Short-term borrowings and current portion of long-term debt	51	3
Accounts payable	529	510
Other current liabilities	438	434
Total current liabilities	1,018	947
Long-term debt	968	967
Retirement-related liabilities	134	141
Other non-current liabilities	181	175
Total liabilities	2,301	2,230
Commitments and contingencies (see Note 19)
Common stock	1	1
Additional paid-in capital	1,979	1,978
Retained earnings	187	132
Accumulated other comprehensive loss	(104)	(98)
Treasury stock	(522)	(426)
Total equity	1,541	1,587
Total liabilities and equity	$ 3,842	$ 3,817

Short-Term Debt and Current Maturities of Long-Term Debt

No definition available.

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Namespace Prefix:	phin_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).