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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 135 $ 115
Accounts receivable (net of allowance for doubtful accounts of $1 and $1) 330 347
Other receivables 8 7
Inventories 570 524
Other current assets 41 41
Total current assets 1,091 1,041
Property, plant and equipment (net of accumulated depreciation of $918 and $897) 730 732
Operating lease right-of-use assets, net 84 56
Goodwill 1,895 1,895
Intangible assets, net 994 1,001
Other assets 64 55
Total assets 4,858 4,780
Liabilities    
Current operating lease liabilities 18 16
Income taxes payable 37 22
Accrued and other current liabilities 142 187
Total current liabilities 517 478
Long-term debt 1,833 1,832
Long-term operating lease liabilities 68 42
Deferred income taxes 358 357
Long-term postretirement benefit obligation 16 16
Other liabilities 77 72
Total liabilities 2,869 2,797
Commitments and contingencies (Note 7)
Stockholders’ equity    
Common stock, $0.001 par value; 2,000 shares authorized; 210.1 shares issued and outstanding 0 0
Additional paid-in capital 1,399 1,396
Accumulated other comprehensive income 53 50
Retained earnings 537 537
Total stockholders’ equity 1,989 1,983
Total liabilities and stockholders’ equity 4,858 4,780
Related Party    
Assets    
Related party receivables 7 7
Liabilities    
Accounts payable 30 34
Nonrelated Party    
Liabilities    
Accounts payable $ 290 $ 219