v3.26.1
Nature of Operations and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Reconciliation of Cash
Cash, cash equivalents and restricted cash reported in the Company’s balance sheet as of June 30, 2026, December 31, 2025, June 30, 2025 and December 31, 2024 were as follows:
(DOLLARS IN MILLIONS)June 30, 2026December 31, 2025June 30, 2025December 31, 2024
Current assets
Cash and cash equivalents$569 $590 $816 $469 
Cash and cash equivalents included in Assets held for sale— — — 2 
Cash and cash equivalents$569 $590 $816 $471 
The Company had no restricted cash as of June 30, 2026 and December 31, 2025.
Schedule of Bad Debt Reserve
The following is a roll-forward of the Company’s allowances for bad debts for the six months ended June 30, 2026 and 2025.
Six Months Ended June 30,
(DOLLARS IN MILLIONS)20262025
Balance at January 1$19 $18 
Bad debt expense 2 3 
Write-offs(1)(3)
Foreign exchange losses— 1 
Balance at June 30$20 $19 
Schedule of Inventory, Current The Company’s inventories consisted of the following:
(DOLLARS IN MILLIONS)June 30, 2026December 31, 2025
Raw materials$593 $601 
Work in process329 336 
Finished goods583 570 
Total$1,505 $1,507