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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 947 $ 1,019
Receivables, less allowances for discounts, returns and credit losses of $46 and $56 in 2024 and 2023, respectively 1,641 1,617
Inventories 1,039 1,018
Prepaid and other current assets 266 230
Total current assets 3,893 3,884
Property, plant and equipment, net 1,141 1,169
Goodwill 7,509 7,587
Other intangible assets, net 2,454 2,529
Other non-current assets 927 943
Total assets 15,924 16,112
Current liabilities:    
Accounts payable 948 968
Accrued and other current liabilities 1,098 1,221
Short-term borrowings and current maturities of long-term debt 285 16
Total current liabilities 2,331 2,205
Long-term debt 1,985 2,268
Accrued post-retirement benefits 323 344
Deferred income tax liabilities 558 557
Other non-current accrued liabilities 524 562
Total liabilities 5,721 5,936
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Authorized 750.0 shares, issued 258.6 shares and 257.6 shares in 2024 and 2023, respectively 3 3
Capital in excess of par value 8,618 8,564
Retained earnings 2,667 2,601
Treasury stock – at cost 16.1 shares and 16.0 shares in 2024 and 2023, respectively (748) (733)
Accumulated other comprehensive loss (345) (269)
Total stockholders’ equity 10,195 10,166
Non-controlling interests 8 10
Total equity 10,203 10,176
Total liabilities and stockholders’ equity $ 15,924 $ 16,112