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Consolidated Statement of Financial Position (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and cash equivalents $ 155 $ 201
Trade receivables, net of allowances of $8 and $7, respectively 149 138
Inventories, net 238 219
Other current assets 32 37
Total current assets 574 595
Property, plant and equipment, net of accumulated depreciation of $501 and $482, respectively 199 189
Goodwill 12 12
Intangible assets, net 18 20
Operating lease right-of-use assets 39 27
Restricted cash 90 92
Pension and other postretirement assets 939 989
Other long-term assets 62 77
TOTAL ASSETS 1,933 2,001
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Accounts payable, trade 111 120
Short-term borrowings and current portion of long-term debt 479 1
Current portion of operating leases 12 11
Other current liabilities 127 129
Total current liabilities 729 261
Long-term debt, net of current portion 11 466
Pension and other postretirement liabilities 213 197
Operating leases, net of current portion 32 21
Other long-term liabilities 198 197
Total liabilities 1,183 1,142
Commitments and Contingencies (Note 7)
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference 222 218
EQUITY    
Common stock, $0.01 par value 0 0
Additional paid in capital 1,147 1,150
Treasury stock, at cost (14) (12)
Accumulated deficit (426) (393)
Accumulated other comprehensive loss (179) (104)
Total shareholders’ equity 528 641
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY 1,933 2,001
Redeemable Preferred Stock [Member]    
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference $ 222 $ 218