v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 270 $ 647
Accounts receivable, net 319 334
Contract assets 1,002 931
Inventories 383 352
Prepaid expenses 29 26
Other current assets 37 36
Total current assets 2,040 2,326
Noncurrent assets:    
Property, plant and equipment, net 526 512
Intangible assets, net 100 112
Goodwill 1,238 1,238
Deferred tax assets 81 88
Other noncurrent assets 212 210
Total noncurrent assets 2,157 2,160
Total assets 4,197 4,486
Current liabilities:    
Short-term borrowings and current portion of long-term debt 10 26
Accounts payable 182 351
Contract liabilities 598 585
Other current liabilities 275 269
Total current liabilities 1,065 1,231
Noncurrent liabilities:    
Long-term debt 139 321
Pension and other postretirement benefit plan liabilities 31 35
Deferred tax liabilities 3 3
Other noncurrent liabilities 156 166
Total noncurrent liabilities 329 525
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; 266,832,196 and 265,822,404 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 3 3
Additional paid-in capital 5,010 5,083
Accumulated deficit (2,167) (2,315)
Accumulated other comprehensive loss (43) (41)
Total stockholders' equity 2,803 2,730
Total liabilities and stockholders' equity $ 4,197 $ 4,486