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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Assets:    
Cash and cash equivalents $ 372 $ 332
Accounts receivable, net 958 1,195
Inventories 1,695 1,531
Prepaid expenses and other current assets 376 296
Total current assets 3,401 3,354
Property, plant and equipment, net 1,194 1,212
Operating lease assets 492 515
Goodwill 3,059 3,071
Other intangible assets, net 2,447 2,488
Deferred income taxes 775 806
Other assets 732 717
Total assets 12,100 12,163
Liabilities:    
Accounts payable 1,038 1,003
Other accrued liabilities 1,489 1,565
Short-term debt and current portion of long-term debt 429 329
Total current liabilities 2,956 2,897
Long-term debt 4,558 4,575
Deferred income taxes 237 241
Operating lease liabilities 422 446
Other noncurrent liabilities 851 892
Total liabilities 9,024 9,051
Commitments and contingencies (Footnote 16)
Stockholders’ equity:    
Preferred stock (10.0 authorized shares, $1.00 par value, no shares issued at March 31, 2024 and December 31, 2023) 0 0
Common stock (800.0 authorized shares, $0.00 par value, 440.9 shares and 439.6 shares issued at March 31, 2024 and December 31, 2023, respectively) 441 440
Treasury stock, at cost (25.8 shares and 25.3 shares at March 31, 2024 and December 31, 2023, respectively) (631) (627)
Additional paid-in capital 6,900 6,915
Retained deficit (2,735) (2,726)
Accumulated other comprehensive loss (899) (890)
Total stockholders’ equity 3,076 3,112
Total liabilities and stockholders’ equity $ 12,100 $ 12,163