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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 83,000,000 $ 38,000,000
Accounts receivable (net of allowance for doubtful accounts of $1 and $1) 386,000,000 348,000,000
Other receivables 4,000,000 15,000,000
Inventories 614,000,000 722,000,000
Other current assets 52,000,000 41,000,000
Total current assets 1,146,000,000 1,171,000,000
Property, plant and equipment (net of accumulated depreciation of $859 and $821) 716,000,000 722,000,000
Operating lease right-of-use assets, net 59,000,000 65,000,000
Goodwill 1,879,000,000 1,879,000,000
Intangible assets, net 1,016,000,000 1,031,000,000
Other assets 66,000,000 61,000,000
Total assets 4,882,000,000 4,929,000,000
Liabilities    
Current portion of long-term debt 25,000,000 25,000,000
Current operating lease liabilities 15,000,000 14,000,000
Income taxes payable 2,000,000 14,000,000
Accrued and other current liabilities 164,000,000 145,000,000
Total current liabilities 465,000,000 496,000,000
Long-term debt 2,056,000,000 2,066,000,000
Long-term operating lease liabilities 46,000,000 53,000,000
Deferred income taxes 368,000,000 365,000,000
Long-term postretirement benefit obligation 34,000,000 34,000,000
Other liabilities 54,000,000 47,000,000
Total liabilities 3,023,000,000 3,061,000,000
Commitments and contingencies (Note 7)
Stockholders’ equity    
Common stock, $0.001 par value; 2,000 shares authorized; 210 shares issued and outstanding 0 0
Additional paid-in capital 1,389,000,000 1,385,000,000
Accumulated other comprehensive income 52,000,000 52,000,000
Retained earnings 418,000,000 431,000,000
Total stockholders’ equity 1,859,000,000 1,868,000,000
Total liabilities and stockholders’ equity 4,882,000,000 4,929,000,000
Related Party    
Assets    
Related party receivables 7,000,000 7,000,000
Liabilities    
Accounts payable 34,000,000 46,000,000
Nonrelated Party    
Liabilities    
Accounts payable $ 225,000,000 $ 252,000,000