v3.25.3
SUPPLEMENTAL FINANCIAL INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Cash and Cash Equivalents
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH.
As of
September 30, 2025December 31, 2024
Cash and cash equivalents(1)
$4,005 $2,874 
Short-term restricted cash22 16 
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Financial Position
4,027 2,889 
Long-term restricted cash(2)
3 3 
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Cash Flows
$4,030 $2,893 
(1) The increase in Cash and cash equivalents was primarily due to proceeds from the issuance of senior unsecured notes by the Company in the second quarter of 2025. Refer to Note 8, “Borrowings” for further information.
(2) Long-term restricted cash is recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.
Schedule of Restricted Cash and Cash Equivalents
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH.
As of
September 30, 2025December 31, 2024
Cash and cash equivalents(1)
$4,005 $2,874 
Short-term restricted cash22 16 
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Financial Position
4,027 2,889 
Long-term restricted cash(2)
3 3 
Total Cash, cash equivalents, and restricted cash as presented in the Condensed Consolidated Statements of Cash Flows
$4,030 $2,893 
(1) The increase in Cash and cash equivalents was primarily due to proceeds from the issuance of senior unsecured notes by the Company in the second quarter of 2025. Refer to Note 8, “Borrowings” for further information.
(2) Long-term restricted cash is recognized within All other non-current assets in the Condensed Consolidated Statements of Financial Position.
Schedule of Inventory
INVENTORIES.
As of
September 30, 2025December 31, 2024
Raw materials$1,011 $921 
Work in process101 92 
Finished goods1,191 926 
Inventories
$2,304 $1,939 
Summary of Property, Plant and Equipment
PROPERTY, PLANT, AND EQUIPMENT – NET.
As of
September 30, 2025December 31, 2024
Land and improvements
$150 $66 
Buildings, structures, and related equipment
2,191 1,943 
Machinery and equipment
2,995 2,705 
Leasehold improvements and manufacturing plants under construction
556 553 
Total property, plant, and equipment, at original cost
5,892 5,267 
Accumulated depreciation
(3,291)(3,080)
Right-of-use operating lease assets, net of amortization
409 364 
Property, plant, and equipment – net
$3,010 $2,550 
Schedule of Other Current Assets
All Other Current Assets
As of
September 30, 2025December 31, 2024
Prepaid expenses and deferred costs
$235 $188 
Financing receivables – net
94 90 
Derivative instruments(1)
142 123 
Tax receivables
145 115 
Other(2)
86 16 
All other current assets
$702 $532 
(1) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.
(2) As of September 30, 2025, Other primarily consists of indemnity assets associated with the NMP acquisition and separation agreements with GE. These amounts were not material as of December 31, 2024.
Schedule of Other Noncurrent Assets
All Other Non-Current Assets
As of
September 30, 2025December 31, 2024
Prepaid pension asset
$770 $657 
Equity method and other investments
302 373 
Financing receivables – net
194 183 
Long-term receivables – net
189 142 
Inventories
140 139 
Contract and other deferred assets
204 208 
Capitalized cloud computing arrangement implementation costs171 84 
Other(1)
181 164 
All other non-current assets
$2,152 $1,950 
(1) Other primarily consists of derivative instruments, indemnity assets associated with separation agreements with GE, and tax receivables.
Schedule of Other Current Liabilities
All Other Current Liabilities
As of
September 30, 2025December 31, 2024
Sales allowances and related liabilities
$228 $242 
Income and indirect tax liabilities including uncertain tax positions
228 279 
Product warranties
160 168 
Accrued logistics and utilities
187 163 
Operating lease liabilities
134 115 
Derivative instruments(1)
72 90 
Interest payable on borrowings
166 92 
Environmental and asset retirement obligations
12 17 
Other(2)
349 386 
All other current liabilities
$1,536 $1,552 
(1) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.
(2) Other primarily consists of miscellaneous accrued costs, dividends payable, and contingent consideration liabilities.
Schedule of Other Noncurrent Liabilities
All Other Non-Current Liabilities
As of
September 30, 2025December 31, 2024
Contract liabilities
$775 $686 
Operating lease liabilities285 270 
Environmental and asset retirement obligations(1)
459 291 
Income and indirect tax liabilities including uncertain tax positions
155 237 
Derivative instruments(2)
179 64 
Finance lease obligations
43 40 
Sales allowances and related liabilities
23 23 
Other(3)
183 184 
All other non-current liabilities
$2,100 $1,796 
(1) The increase in Environmental and asset retirement obligations is primarily driven by $166 million in asset retirement obligations and decommissioning liabilities assumed as part of the NMP acquisition. Refer to Note 7, “Acquisitions, Goodwill, and Other Intangible Assets” for further information.
(2) Derivative instruments include the related accrued interest. Refer to Note 12, “Financial Instruments and Fair Value Measurements” for further information.
(3) Other primarily consists of miscellaneous accrued costs, indemnity liabilities associated with separation agreements with GE, and contingent consideration liabilities.
Schedule of Redeemable Noncontrolling Interest
Activity attributable to redeemable noncontrolling interests is presented below.
For the nine months ended September 30
20252024
Balance at beginning of period$188 $165 
Net income attributable to redeemable noncontrolling interests
54 35 
Distributions to redeemable noncontrolling interests and other
(37)(23)
Balance at end of period $204 $177 
Schedule of Other Income (Expense), Net
OTHER INCOME (EXPENSE) – NET.

For the three months ended September 30
For the nine months ended September 30
2025202420252024
Net financing income and investment income (loss)
$12 $5 $17 $(11)
Equity method income (loss)
— 2 3 5 
Change in fair value of assumed obligations
(6)(9)(24)(26)
Gain on remeasurement of NMP equity method investment(1)
— — 97 — 
Other items, net(2)
21 11 32 33 
Total other income (expense) – net
$26 $9 $124 $1 
(1) Refer to Note 7, “Acquisitions, Goodwill, and Other Intangible Assets” for additional information on the NMP acquisition.
(2) Other items, net primarily consists of a mix of licensing and royalty income, government grants, lease income, change in tax indemnities, and gains and losses related to derivatives. Additionally, for the nine months ended September 30, 2025 it includes a realization of a gain contingency recorded in the first quarter of 2025.