v3.25.4

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,479	$ 1,121
Receivables, less allowances for discounts, returns and credit losses of $68 and $59 in 2025 and 2024, respectively	1,759	1,668
Inventories	983	996
Prepaid and other current assets	244	236
Assets held for sale	176	77
Total current assets	4,641	4,098
Property, plant and equipment, net	1,159	1,152
Goodwill	8,332	7,980
Other intangible assets, net	2,272	2,379
Other non-current assets	1,230	884
Total assets	17,634	16,493
Current liabilities:
Accounts payable	1,013	1,006
Accrued and other current liabilities	1,237	1,271
Short-term borrowings and current maturities of long-term debt	534	38
Liabilities held for sale	72	21
Total current liabilities	2,856	2,336
Long-term debt, net	1,408	1,978
Accrued post-retirement benefit obligations	317	304
Deferred income tax liabilities	405	497
Other non-current accrued liabilities	899	496
Total liabilities	5,885	5,611
Commitment and Contingencies (Note 20)
Redeemable non-controlling interest	258	235
Common stock — par value $0.01 per share:
Authorized 750.0 shares, issued 259.9 and 259.2 shares in 2025 and 2024, respectively	3	3
Capital in excess of par value	8,759	8,687
Retained earnings	3,706	3,140
Treasury stock – at cost 16.3 shares and 16.2 shares in 2025 and 2024, respectively	(768)	(753)
Accumulated other comprehensive loss	(220)	(435)
Total stockholders’ equity	11,480	10,642
Non-controlling interest	11	5
Total equity	11,491	10,647
Total liabilities, redeemable non-controlling interest, and stockholders’ equity	$ 17,634	$ 16,493

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Xylem Inc. 10-K