v3.26.1
ACQUISITION (Tables)
6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Fair Values of the Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the date of acquisition:
(in millions)Initial Purchase Price Allocation
Total purchase consideration(1)
$14 
ASSETS
Cash and cash equivalents$
Property, plant and equipment, net
Other intangible assets, net27 
Other assets25 
Total assets acquired$63 
LIABILITIES
Long-term debt$33 
Other liabilities19 
Total liabilities assumed$52 
Net assets acquired$11 
Goodwill(2)
$
____________
1 Total purchase consideration excludes cash paid of $32 million used to extinguish debt assumed through the SEM Acquisition.
2 Goodwill is not deductible for tax purposes.
Schedule of Valuation of Intangible Assets
The preliminary valuation of intangible assets consisted of the following assets subject to amortization (in millions, except weighted-average useful life):
Fair ValueWeighted-Average Useful LifeValuation MethodologyKey Assumptions
Customer relationships$18 12 yearsMulti-period excess earningsDiscount rate, customer attrition rate
Patented and unpatented technology96 yearsRelief-from-royaltyRoyalty rate, discount rate, obsolescence factor