v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 554 $ 276
Accounts receivable, net of allowance for doubtful accounts of $18 million and $17 million, respectively (Note 2) 1,877 1,567
Inventories (Note 4) 772 772
Other current assets (Note 5) 337 158
Total current assets 3,540 2,773
Long-term assets:    
Property, net 901 901
Operating lease right-of-use assets 192 168
Investments in affiliates (Note 6) 149 143
Intangible assets, net (Note 2) 6 7
Deferred tax assets 443 384
Other long-term assets (Note 5) 128 109
Total long-term assets 1,819 1,712
Total assets 5,359 4,485
Current liabilities:    
Short-term debt (Note 10) 153 58
Accounts payable 1,666 1,530
Accrued liabilities (Note 7) 713 578
Total current liabilities 2,532 2,166
Long-term liabilities:    
Long-term debt (Note 10) 2,071 3
Pension benefit obligations 214 217
Long-term operating lease liabilities 144 130
Other long-term liabilities (Note 7) 114 121
Total long-term liabilities 2,543 471
Total liabilities 5,075 2,637
Commitments and contingencies (Note 12)
Shareholders’ equity:    
Preferred shares, $0.01 par value per share, 50,000,000 shares authorized, none issued and outstanding 0 0
Ordinary shares, $0.01 par value per share, 1,200,000,000 shares authorized, 70,925,978 issued and 70,815,717 outstanding as of June 30, 2026 1 0
Additional paid-in-capital 143 0
Retained earnings 118 0
Former Parent’s net investment 0 1,925
Accumulated other comprehensive loss (Note 15) (177) (268)
Total Versigent shareholders' equity 85 1,657
Noncontrolling interest 199 191
Total shareholders’ equity 284 1,848
Total liabilities and shareholders’ equity $ 5,359 $ 4,485