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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 101 $ 115
Accounts receivable (net of allowance for doubtful accounts of $1 and $1) 371 347
Other receivables 5 7
Inventories 584 524
Other current assets 45 41
Total current assets 1,113 1,041
Property, plant and equipment (net of accumulated depreciation of $938 and $897) 729 732
Operating lease right-of-use assets, net 79 56
Goodwill 1,895 1,895
Intangible assets, net 987 1,001
Other assets 62 55
Total assets 4,865 4,780
Liabilities    
Current operating lease liabilities 19 16
Income taxes payable 1 22
Accrued and other current liabilities 164 187
Total current liabilities 523 478
Long-term debt 1,784 1,832
Long-term operating lease liabilities 63 42
Deferred income taxes 359 357
Long-term postretirement benefit obligation 16 16
Other liabilities 80 72
Total liabilities 2,825 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 1,404 1,396
Accumulated other comprehensive income 51 50
Retained earnings 585 537
Total stockholders’ equity 2,040 1,983
Total liabilities and stockholders’ equity 4,865 4,780
Related Party    
Assets    
Related party receivables 7 7
Liabilities    
Accounts payable 29 34
Nonrelated Party    
Liabilities    
Accounts payable $ 310 $ 219