Balance Sheet
| Year Ending Dec 2025 (Update) | Year Ending Dec 2024 (Update) | Year Ending Dec 2023 (Update) | Year Ending Dec 2022 (Update) | |
|---|---|---|---|---|
| Cash & Equivalents | 643.00 | 784.00 | 563.00 | 741.00 |
| Short Term Investments | 2,187.00 | 1,917.00 | 1,205.00 | 910.00 |
| Cash and Short Term Investments | 2,830.00 | 2,701.00 | 1,768.00 | 1,651.00 |
| Accounts Receivable - Trade, Gross | 1,443.00 | 1,395.00 | 1,477.00 | 1,440.00 |
| Provision for Doubtful Accounts | 0.00 | 0.00 | 0.00 | 0.00 |
| Accounts Receivable - Trade, Net | 1,443.00 | 1,395.00 | 1,477.00 | 1,440.00 |
| Receivables - Other | 156.00 | 116.00 | 99.00 | 252.00 |
| Total Receivables, Net | 1,599.00 | 1,511.00 | 1,576.00 | 1,692.00 |
| Total Inventory | 98.00 | 162.00 | 82.00 | 85.00 |
| Prepaid Expenses | 55.00 | 56.00 | 63.00 | 36.00 |
| Discontinued Operations - Current Asset | 0.00 | 83.00 | 0.00 | 0.00 |
| Other Current Assets, Total | 0.00 | 83.00 | 0.00 | 0.00 |
| Total Current Assets | 4,582.00 | 4,513.00 | 3,489.00 | 3,464.00 |
| Land/Improvements - Gross | 1,223.00 | 1,215.00 | 1,360.00 | 1,314.00 |
| Machinery/Equipment - Gross | 24,052.00 | 22,129.00 | 22,815.00 | 22,188.00 |
| Other Property/Plant/Equipment - Gross | 2,373.00 | 3,944.00 | 3,862.00 | 3,528.00 |
| Property/Plant/Equipment, Total - Gross | 27,648.00 | 27,288.00 | 28,037.00 | 27,030.00 |
| Accumulated Depreciation, Total | -18,425.00 | -18,543.00 | -19,339.00 | -18,742.00 |
| Property/Plant/Equipment, Total - Net | 9,223.00 | 8,922.00 | 8,698.00 | 8,288.00 |
| Goodwill - Gross | 1,457.00 | 1,453.00 | 1,430.00 | 1,430.00 |
| Accumulated Goodwill Amortization | -1,080.00 | -1,080.00 | -1,080.00 | -1,080.00 |
| Goodwill, Net | 377.00 | 373.00 | 350.00 | 350.00 |
| Intangibles - Gross | 4,272.00 | 3,681.00 | 3,834.00 | 4,469.00 |
| Accumulated Intangible Amortization | -3,165.00 | -3,106.00 | -3,243.00 | -3,850.00 |
| Intangibles, Net | 1,107.00 | 575.00 | 591.00 | 619.00 |
| LT Investment - Affiliate Companies | 14.00 | 8.00 | 0.00 | 0.00 |
| LT Investments - Other | 0.00 | 0.00 | 0.00 | 0.00 |
| Long Term Investments | 14.00 | 8.00 | 0.00 | 0.00 |
| Note Receivable - Long Term | 398.00 | 410.00 | 446.00 | 460.00 |
| Deferred Charges | 218.00 | 333.00 | 273.00 | 231.00 |
| Deferred Income Tax - Long Term Asset | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Long Term Assets | 19.00 | 27.00 | 31.00 | 0.00 |
| Other Long Term Assets, Total | 237.00 | 360.00 | 304.00 | 231.00 |
| Total Assets | 15,938.00 | 15,161.00 | 13,878.00 | 13,412.00 |
| Payable/Accrued | 0.00 | 0.00 | 0.00 | 901.00 |
| Accrued Expenses | 1,015.00 | 813.00 | 731.00 | 422.00 |
| Notes Payable/Short Term Debt | 0.00 | 0.00 | 0.00 | 0.00 |
| Current Portion of Long Term Debt/Capital Leases | 1,417.00 | 1,561.00 | 1,507.00 | 1,377.00 |
| Customer Advances | 281.00 | 293.00 | 224.00 | 171.00 |
| Income Taxes Payable | 0.00 | 171.00 | 72.00 | 0.00 |
| Other Payables | 1,117.00 | 1,055.00 | 1,051.00 | 494.00 |
| Discontinued Operations – Current Liability | 0.00 | 34.00 | 0.00 | 0.00 |
| Other Current Liabilities | 204.00 | 87.00 | 95.00 | 169.00 |
| Other Current liabilities, Total | 1,602.00 | 1,640.00 | 1,442.00 | 834.00 |
| Total Current Liabilities | 4,034.00 | 4,014.00 | 3,680.00 | 3,534.00 |
| Long Term Debt | 6,818.00 | 6,523.00 | 5,889.00 | 6,352.00 |
| Capital Lease Obligations | 1,530.00 | 1,530.00 | 1,608.00 | 1,452.00 |
| Total Long Term Debt | 8,348.00 | 8,053.00 | 7,497.00 | 7,804.00 |
| Total Debt | 9,765.00 | 9,614.00 | 9,004.00 | 9,181.00 |
| Deferred Income Tax - Long Term Liability | 56.00 | 46.00 | 64.00 | 61.00 |
| Deferred Income Tax | 56.00 | 46.00 | 64.00 | 61.00 |
| Minority Interest | 2.00 | 2.00 | 1.00 | 1.00 |
| Reserves | 34.00 | 30.00 | 29.00 | 37.00 |
| Pension Benefits - Underfunded | 219.00 | 300.00 | 251.00 | 201.00 |
| Other Long Term Liabilities | 292.00 | 214.00 | 160.00 | 151.00 |
| Other Liabilities, Total | 545.00 | 544.00 | 440.00 | 389.00 |
| Total Liabilities | 12,985.00 | 12,659.00 | 11,682.00 | 11,789.00 |
| Common Stock | 3,887.00 | 3,882.00 | 3,879.00 | 3,878.00 |
| Common Stock, Total | 3,887.00 | 3,882.00 | 3,879.00 | 3,878.00 |
| Additional Paid-In Capital | 398.00 | 393.00 | 387.00 | 384.00 |
| Retained Earnings (Accumulated Deficit) | -1,332.00 | -1,773.00 | -2,070.00 | -2,645.00 |
| ESOP Debt Guarantee | 0.00 | 0.00 | 0.00 | 38.00 |
| Other Equity | 0.00 | 0.00 | 0.00 | -32.00 |
| Other Equity, Total | 0.00 | 0.00 | 0.00 | -32.00 |
| Total Equity | 2,953.00 | 2,502.00 | 2,196.00 | 1,623.00 |
| Total Liabilities & Shareholders' Equity | 15,938.00 | 15,161.00 | 13,878.00 | 13,412.00 |
| Shares Outstanding – Common Stock Primary Issue | 2,774.78 | 2,769.92 | 2,766.84 | 2,765.57 |
| Total Common Shares Outstanding | 2,774.78 | 2,769.92 | 2,766.84 | 2,765.57 |
| Treasury Shares – Common Primary Issue | 0.00 | 0.00 | 0.00 | 0.00 |
| Employees | 5,286.00 | 5,425.00 | 5,432.00 | 5,598.00 |
| Accumulated Goodwill Amortization | 1,080.00 | 1,080.00 | 1,080.00 | 1,080.00 |
| Accumulated Intangible Amortization | 3,165.00 | 3,106.00 | 3,243.00 | 3,850.00 |
| Deferred Revenue - Current | 281.00 | 293.00 | 224.00 | 171.00 |
| Deferred Revenue - Long Term | 269.00 | 195.00 | 139.00 | 0.00 |
| Total Current Assets less Inventory | 4,484.00 | 4,351.00 | 3,407.00 | 3,379.00 |
| Quick Ratio | 1.11 | 1.08 | 0.93 | 0.96 |
| Current Ratio | 1.14 | 1.12 | 0.95 | 0.98 |
| Net Debt | 6,937.00 | 6,915.00 | 7,237.00 | 7,531.00 |
| Tangible Book Value | 1,469.00 | 1,554.00 | 1,255.00 | 654.00 |
| Tangible Book Value per Share | 0.53 | 0.56 | 0.45 | 0.24 |
| Total Operating Leases | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Lease Payments Due in Year 1 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Lease Payments Due in Year 2 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Lease Payments Due in Year 3 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Lease Payments Due in Year 4 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Lease Payments Due in Year 5 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Lease Payments Due in 2-3 Years | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Lease Payments Due in 4-5 Years | 0.00 | 0.00 | 0.00 | 0.00 |
| Standardized Operating Lease Payments Due in Year 6 and Beyond | 0.00 | 0.00 | 0.00 | 0.00 |
| Pension Obligation - Domestic | 231.00 | 213.00 | 200.00 | 201.00 |
| Plan Assets - Domestic | 156.00 | 149.00 | 150.00 | 149.00 |
| Funded Status - Domestic | -75.00 | -64.00 | -50.00 | -52.00 |
| Total Funded Status | -75.00 | -64.00 | -50.00 | -52.00 |
| Discount Rate - Domestic | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Plan Obligations | 231.00 | 213.00 | 200.00 | 201.00 |
| Total Plan Assets | 156.00 | 149.00 | 150.00 | 149.00 |
Source: LSEG
In millions of USD (except for per share items)