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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,688 $ 1,875
Receivables, less allowances for discounts, returns and credit losses of $38 and $46 in 2021 and 2020, respectively 952 923
Inventories 596 558
Prepaid and other current assets 165 167
Total current assets 3,401 3,523
Property, plant and equipment, net 627 657
Goodwill 2,831 2,854
Other intangible assets, net 1,075 1,093
Other non-current assets 611 623
Total assets 8,545 8,750
Current liabilities:    
Accounts payable 530 569
Accrued and other current liabilities 714 787
Short-term borrowings and current maturities of long-term debt 600 600
Total current liabilities 1,844 1,956
Long-term debt 2,460 2,484
Accrued post-retirement benefits 502 519
Deferred income tax liabilities 257 242
Other non-current accrued liabilities 536 573
Total liabilities 5,599 5,774
Commitments and contingencies (Note 16)
Stockholders’ equity:    
Common Stock 2 2
Capital in excess of par value 2,049 2,037
Retained earnings 1,967 1,930
Treasury stock – at cost 15.2 shares and 14.5 shares in 2021 and 2020, respectively (655) (588)
Accumulated other comprehensive loss (426) (413)
Total stockholders’ equity 2,937 2,968
Non-controlling interests 9 8
Total equity 2,946 2,976
Total liabilities and stockholders’ equity $ 8,545 $ 8,750