v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents, including restricted cash of nil and $4 $ 56 $ 60
Receivables, less allowances of $5 and $5 712 617
Receivables from related party (NOTE 16) 31 33
Inventories (NOTE 7) 1,289 1,499
Prepaid expenses 78 63
Income and other taxes receivable 49 52
Other current assets 19 15
Total current assets 2,234 2,339
Property, plant and equipment, net 2,987 3,077
Operating lease right-of-use assets 63 71
Notes receivable from related party (NOTE 16) 65 64
Goodwill and other intangible assets, net (NOTE 8) 140 148
Deferred income tax assets 259 285
Other assets (NOTE 9) 709 674
Total assets 6,457 6,658
Current liabilities    
Bank indebtedness 0 9
Trade and other payables 914 855
Income and other taxes payable 26 24
Operating lease liabilities due within one year 25 25
Due to related party (NOTE 16) $ 20 $ 8
Other Liability, Current, Related Party [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Long-term debt due within one year (NOTE 11) $ 75 $ 75
Total current liabilities 1,060 996
Long-term debt (NOTE 11) 2,770 2,749
Operating lease liabilities 64 64
Deferred income taxes and other 23 24
Pension and other post-retirement benefit obligations (NOTE 5) 534 588
Other liabilities and deferred credits (NOTE 13) 373 332
Commitments and contingencies (NOTE 14)
Shareholders' equity    
Common stock $0.01 par value; 100 shares issued and outstanding 0 0
Additional paid-in capital 2,827 2,827
Deficit (1,153) (929)
Accumulated other comprehensive (loss) income (41) 7
Total shareholders' equity 1,633 1,905
Total liabilities and shareholders' equity $ 6,457 $ 6,658