v3.26.1
Consolidated Statement of Financial Position (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Cash and cash equivalents $ 290 $ 337
Trade receivables, net of allowances of $7 at both periods 149 145
Inventories, net 253 218
Other current assets 74 141
Total current assets 766 841
Property, plant and equipment, net of accumulated depreciation of $507 and $499, respectively 196 191
Goodwill 12 12
Intangible assets, net 17 17
Operating lease right-of-use assets 34 37
Restricted cash 90 96
Pension and other postretirement assets 304 302
Other long-term assets 108 121
TOTAL ASSETS 1,527 1,617
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Accounts payable, trade 108 101
Short-term borrowings and current portion of long-term debt 2 1
Current portion of operating leases 11 11
Other current liabilities 142 155
Total current liabilities 263 268
Long-term debt, net of current portion 108 208
Pension and other postretirement liabilities 186 191
Operating leases, net of current portion 27 30
Other long-term liabilities 246 207
Total liabilities 830 904
Commitments and Contingencies (Note 9)
EQUITY    
Common stock, $0.01 par value 1 1
Additional paid in capital 1,286 1,278
Treasury stock, at cost (29) (26)
Accumulated deficit (520) (521)
Accumulated other comprehensive loss (115) (118)
Total shareholders’ equity 623 614
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY 1,527 1,617
Redeemable Preferred Stock [Member]    
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference $ 74 $ 99