v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 222 $ 195
Accounts receivable, net of allowances of $3 (2026) and $4 (2025) 271 253
Inventories 150 153
Prepaid expenses 14 34
Current tax receivable 16 2
Other current assets 54 16
Total current assets 725 652
Long-term investments 27 28
Property, plant and equipment, net 162 144
Operating lease right of use assets, net 21 26
Goodwill and other intangible assets, net 2 2
Deferred tax assets 271 323
Other noncurrent assets 24 27
Total assets 1,233 1,201
Current liabilities    
Accrued rebates and product returns 610 582
Accounts payable and accrued expenses 206 250
Accrued litigation settlement expenses, current 14 42
Current portion of long-term debt 0 29
Operating lease liabilities, current 9 10
Income taxes payable 30 2
Total current liabilities 868 914
Long-term debt, less current portion 487 290
Accrued litigation settlement expenses, noncurrent 42 52
Operating lease liabilities, noncurrent 13 22
Other noncurrent liabilities 31 21
Total liabilities 1,441 1,300
Commitments and contingencies (Note 13)
Stockholders' deficit    
Common stock, par value $0.001 per share (2026) and $0.50 per share (2025). Issued shares: 118 (2026) and 125 (2025) 0 62
Additional paid-in capital 155 112
Accumulated other comprehensive loss (28) (30)
Accumulated deficit (334) (243)
Total stockholders' deficit (208) (98)
Total liabilities and stockholders' deficit $ 1,233 $ 1,201