ACQUISITIONS (Tables)

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

Final determination of the fair values may result in further adjustments to the values presented in the following table:


Spectrum Assets Acquired and Liabilities Assumed on August 1, 2023	Estimated fair value as previously reported 1		Measurement period adjustments 2		Estimated fair value adjusted
(In millions)
Fair value of assets acquired
Cash and cash equivalents	$	31	$	—	$	31
Accounts and notes receivable	68		—		68
Inventories	52		—		52
Property, plant and equipment	125		—		125
Other intangible assets	916		—		916
Deferred charges and other assets	34		—		34
Total Assets Acquired	$	1,226	$	—	$	1,226
Fair value of liabilities assumed
Accounts payable	$	21	$	—	$	21
Income taxes payable	17		—		17
Deferred income tax liabilities	177		—		177
Other noncurrent liabilities	37		7		44
Total Liabilities Assumed	$	252	$	7	$	259
Goodwill	818		7		825
Total Consideration	$	1,792	$	—	$	1,792

1.As previously reported in the Company’s Annual Report on Form 10-K for the period ended December 31, 2023.

2.The Company recorded measurement period adjustments to reflect changes in preliminary valuation assumptions for tax accounts. The measurement period adjustment was offset against goodwill.