v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Current Assets:      
Cash and cash equivalents $ 93 $ 168 $ 112
Restricted cash 19 19 18
Trade receivables, net of allowances 443 443  
Contract assets 144 119  
Inventories 700 644  
Other current assets 215 190  
Total current assets 1,614 1,583  
Property, plant and equipment, net of accumulated depreciation of $423 and $392, respectively 773 793  
Goodwill 3,385 3,428  
Intangible assets, net 1,972 2,122  
Other assets 262 265  
Total Assets 8,006 8,191  
Current Liabilities:      
Short-term debt 9 412  
Accounts payable, trade and other 300 262  
Advance and progress payments 561 518  
Accrued payroll 157 170  
Other current liabilities 276 260  
Total current liabilities 1,303 1,622  
Long-term debt 1,670 1,470  
Deferred tax liabilities 356 383  
Other liabilities 205 252  
Commitments and contingencies (Note 13)  
Stockholders’ Equity:      
Preferred stock, $0.01 par value; 20,000,000 shares authorized; no shares issued in 2026 or 2025 0 0  
Common stock, $0.01 par value; 120,000,000 shares authorized; June 30, 2026: 52,075,770 issued, and 51,875,970 outstanding; December 31, 2025: 51,974,355 issued and outstanding 1 1  
Treasury stock, at cost June 30, 2026: 199,800 shares and December 31, 2025: 0 shares (26) 0  
Additional paid-in capital 2,726 2,717  
Retained earnings 1,527 1,465  
Accumulated other comprehensive income 244 281  
Total stockholders’ equity 4,472 4,464 $ 4,374
Total Liabilities and Stockholders’ Equity $ 8,006 $ 8,191