v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 638 $ 276
Accounts receivable, net of allowance for doubtful accounts of $18 million and $17 million, respectively (Note 2) 1,944 1,567
Inventories (Note 4) 821 772
Other current assets (Note 5) 264 158
Total current assets 3,667 2,773
Long-term assets:    
Property, net 913 901
Operating lease right-of-use assets 213 168
Investments in affiliates (Note 6) 146 143
Intangible assets, net (Note 2) 5 7
Deferred tax assets 450 384
Other long-term assets (Note 5) 133 109
Total long-term assets 1,860 1,712
Total assets 5,527 4,485
Current liabilities:    
Short-term debt (Note 10) 58 58
Accounts payable 1,772 1,530
Accrued liabilities (Note 7) 737 578
Total current liabilities 2,567 2,166
Long-term liabilities:    
Long-term debt (Note 10) 2,066 3
Pension benefit obligations 216 217
Long-term operating lease liabilities 164 130
Other long-term liabilities (Note 7) 151 121
Total long-term liabilities 2,597 471
Total liabilities 5,164 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, 70,841,248 issued and outstanding as of September 30, 2026 1 0
Additional paid-in-capital 144 0
Retained earnings 211 0
Former Parent’s net investment 0 1,925
Accumulated other comprehensive loss (Note 15) (202) (268)
Total Versigent shareholders' equity 154 1,657
Noncontrolling interest 209 191
Total shareholders’ equity 363 1,848
Total liabilities and shareholders’ equity $ 5,527 $ 4,485