INVENTORY

3 Months Ended

Mar. 31, 2025

Inventory Disclosure [Abstract]

INVENTORY

INVENTORY

The following table summarizes the components of “Inventory” on the Condensed Consolidated Balance Sheets (in millions):

	December 31, 2024		March 31, 2025
Raw materials and work in progress	$	1,351	$	1,129
Finished goods	897		1,460
Total inventory	$	2,248	$	2,589

Inventory is stated at the lower of cost or net realizable value (“LCNRV”) and consists of raw materials, work in progress, finished goods, and service parts. The balance of the Company’s inventory was written down by $66 million and $23 million from its cost to its net realizable value as of December 31, 2024 and March 31, 2025, respectively. Additionally, the Company had a liability for LCNRV losses related to firm purchase commitments of $5 million and $0 million as of December 31, 2024 and March 31, 2025, respectively.