Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 504	$ 318
Receivables, less allowances for discounts and doubtful accounts of $34 and $37 in 2012 and 2011, respectively	776	756
Inventories, net	443	433
Prepaid and other current assets	110	97
Deferred income tax assets	41	45
Total current assets	1,874	1,649
Property, plant and equipment, net	487	463
Goodwill	1,647	1,610
Other intangible assets, net	484	505
Other non-current assets	187	173
Total assets	4,679	4,400	[1]
Current liabilities:
Accounts payable	332	322
Accrued and other current liabilities	443	490
Short-term borrowings and current maturities of long-term debt	6	5
Total current liabilities	781	817
Long-term debt	1,199	1,201
Accrued postretirement benefits	400	316
Deferred income tax liabilities	173	168
Other non-current accrued liabilities	52	67
Total liabilities	2,605	2,569
Commitment and Contingencies (Note 18)
Common Stock — par value $0.01 per share:
Authorized 750.0 shares, issued 186.2 and 184.6 shares in 2012 and 2011, respectively	2	2
Capital in excess of par value	1,706	1,663
Retained earnings	264	44
Treasury stock – at cost 0.5 shares and 0 shares in 2012 and 2011, respectively	(13)	0
Accumulated other comprehensive income	115	122
Total stockholders’ equity	2,074	1,831
Total liabilities and stockholders’ equity	$ 4,679	$ 4,400

[1] During the fourth quarter of 2012, the Company changed its method of accounting for those inventories which were accounted for under the LIFO method to the FIFO method. See Note 1 for discussion of this accounting change and its related impact.