v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents (amounts related to consolidated variable interest entities of $1 million and $3 million at June 30, 2026 and December 31, 2025, respectively) $ 677 $ 892
Accounts receivable, net (amounts related to consolidated variable interest entities of $860 million and $876 million at June 30, 2026 and December 31, 2025, respectively) 4,922 4,268
Inventories 3,612 3,693
Other current assets 1,607 1,586
Total current assets 10,818 10,439
Property, plant and equipment, net 22,672 23,232
Goodwill 7,175 7,218
Intangibles, net 1,021 1,059
Prepaid pension asset 677 616
Other non-current assets (amounts related to consolidated variable interest entities of $394 million and $393 million at June 30, 2026 and December 31, 2025, respectively) 2,838 2,593
Total assets 45,201 45,157
Current liabilities:    
Accounts payable 3,467 3,597
Accrued expenses 651 601
Accrued compensation and benefits 820 997
Current portion of debt 931 346
Other current liabilities 1,607 1,523
Total current liabilities 7,476 7,064
Non-current debt due after one year (amounts related to consolidated variable interest entities of $366 million and $376 million at June 30, 2026 and December 31, 2025, respectively) 13,233 13,427
Deferred tax liabilities 3,365 3,297
Pension liabilities and other postretirement benefits, net of current portion 672 697
Other non-current liabilities (amounts related to consolidated variable interest entities of $336 million and $335 million at June 30, 2026 and December 31, 2025, respectively) 2,395 2,318
Total liabilities 27,141 26,803
Commitments and Contingencies (Note 14)
Equity:    
Preferred stock, $0.001 par value; 500,000,000 shares authorized; 10,000 shares outstanding 0 0
Common stock, $0.001 par value; 9,500,000,000 shares authorized; 524,522,908 and 522,310,486 shares outstanding at June 30, 2026 and December 31, 2025, respectively 1 1
Treasury stock, at cost; 706,129 and 1,449,320 common stock at June 30, 2026, and December 31, 2025, respectively (34) (64)
Capital in excess of par value 16,125 16,083
Accumulated other comprehensive loss (299) (348)
Retained earnings 2,243 2,655
Total shareholders’ equity 18,036 18,327
Noncontrolling interests 24 27
Total equity 18,060 18,354
Total liabilities and equity $ 45,201 $ 45,157