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Solstice Advanced Materials Inc.
CIK:0002064953|SEC Filings
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Net sales | $ 1,148 | $ 1,033 | $ 2,139 | $ 1,930 | ||||
| Costs, expenses and other | ||||||||
| Total cost of products and services sold | 778 | 671 | 1,453 | 1,248 | ||||
| Research and development expenses | 25 | 23 | 53 | 45 | ||||
| Selling, general and administrative expenses | 123 | 105 | 230 | 198 | ||||
| Transaction-related costs | 25 | 30 | 47 | 58 | ||||
| Other expense (income) | (2) | 2 | (9) | (9) | ||||
| Interest and other financial charges | 23 | 2 | 53 | 3 | ||||
| Total costs, expenses and other | 972 | 833 | 1,827 | 1,543 | ||||
| Income before taxes | 176 | 199 | 312 | 387 | ||||
| Income tax expense | 42 | 101 | 73 | 148 | ||||
| Net income | 134 | 99 | 239 | 239 | ||||
| Less: Net income attributable to noncontrolling interest | 15 | 2 | 35 | 8 | ||||
| Net income attributable to Solstice Advanced Materials | $ 119 | $ 97 | $ 204 | $ 231 | ||||
| Basic earnings per share (in usd per share) | $ 0.75 | $ 0.61 | $ 1.28 | $ 1.46 | ||||
| Diluted earnings per share (in usd per share) | $ 0.75 | $ 0.61 | $ 1.28 | $ 1.46 | ||||
| Weighted average number of common shares outstanding - basic (in shares) | 158.8 | 158.7 | 158.8 | 158.7 | ||||
| Weighted average number of common shares outstanding - diluted (in shares) | 159.4 | 158.7 | 159.3 | 158.7 | ||||
| Products | ||||||||
| Net sales | [1] | $ 1,062 | $ 945 | $ 1,977 | $ 1,783 | |||
| Costs, expenses and other | ||||||||
| Total cost of products and services sold | [2] | 715 | 601 | 1,343 | 1,132 | |||
| Services | ||||||||
| Net sales | 86 | 88 | 163 | 147 | ||||
| Costs, expenses and other | ||||||||
| Total cost of products and services sold | $ 63 | $ 71 | $ 110 | $ 116 | ||||
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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions |
6 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Cash flows from operating activities: | ||||||||||
| Net income | $ 239 | $ 239 | ||||||||
| Adjustments to reconcile net income to net cash provided by operating activities | ||||||||||
| Depreciation | 107 | 105 | ||||||||
| Amortization | 10 | 11 | ||||||||
| Equity income of affiliated companies | (8) | (10) | ||||||||
| Gain on sale of fixed assets | 0 | (15) | ||||||||
| Stock-based compensation expense | 11 | 12 | ||||||||
| Changes in assets and liabilities | ||||||||||
| Accounts receivable | [1] | (69) | (70) | |||||||
| Inventories | 45 | (68) | ||||||||
| Other assets | 26 | 4 | ||||||||
| Accounts payable | [2] | 56 | 87 | |||||||
| Accrued and other liabilities, current | [3] | 37 | 24 | |||||||
| Deferred income taxes | 12 | (7) | ||||||||
| Deferred income and customer advances | 2 | (1) | ||||||||
| Other liabilities, noncurrent | (6) | (1) | ||||||||
| Net cash provided by operating activities | 461 | 310 | ||||||||
| Cash flows from investing activities: | ||||||||||
| Capital expenditures paid | [4] | (213) | (138) | |||||||
| Cash paid for long-life catalysts and deferred maintenance | 0 | (1) | ||||||||
| Proceeds from disposals of property, plant, and equipment | 0 | 23 | ||||||||
| Capitalized software | (2) | (2) | ||||||||
| Net cash used for investing activities | (215) | (118) | ||||||||
| Cash flows from financing activities: | ||||||||||
| Dividends | (24) | 0 | ||||||||
| Finance lease payments | (7) | (5) | ||||||||
| Net transfers to Parent | 0 | (7) | ||||||||
| Net cash used for financing activities | (31) | (12) | ||||||||
| Effect of foreign exchange rate changes on cash and cash equivalents | 0 | 32 | ||||||||
| Net increase in cash and cash equivalents | 215 | 212 | ||||||||
| Cash and cash equivalents at beginning of period | 534 | 661 | ||||||||
| Cash and cash equivalents at end of period | $ 750 | $ 873 | ||||||||
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