Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2020	Sep. 30, 2019
Current assets:
Cash and cash equivalents		$ 151	$ 169
Accounts and notes receivable, net of reserve for doubtful accounts of $2 and $3		418	530
Inventories		359	466
Prepaid expenses and other current assets		50	45
Total current assets		978	1,210
Property, plant and equipment		3,686	3,546
Accumulated depreciation		(2,372)	(2,198)
Net property, plant and equipment		1,314	1,348
Goodwill	[1]	134	90
Equity affiliates		39	39
Intangible assets, net		103	96
Deferred income taxes		53	163
Other assets		160	58
Total assets		2,781	3,004
Current liabilities:
Short-term borrowings		14	33
Accounts payable and accrued liabilities		488	537
Income taxes payable		20	22
Current portion of long-term debt		7	7
Total current liabilities		529	599
Long-term debt		1,094	1,024
Deferred income taxes		58	41
Other liabilities		286	206
Commitments and contingencies (Note U)
Preferred stock:
Authorized: 2,000,000 shares of $1 par value Issued and Outstanding: None and none
Common stock:
Authorized: 200,000,000 shares of $1 par value, Issued: 56,616,030 and 57,250,454 shares, Outstanding: 56,466,638 and 57,080,589 shares		57	57
Less cost of 149,392 and 169,865 shares of common treasury stock		(4)	(5)
Retained earnings		989	1,337
Accumulated other comprehensive income (loss)		(351)	(391)
Total Cabot Corporation stockholders’ equity		691	998
Noncontrolling interests		123	136
Total stockholders’ equity		814	1,134
Total liabilities and stockholders’ equity		$ 2,781	$ 3,004

[1] ^{The Company incurred $444 million accumulated impairment losses associated with the goodwill of the Purification Solutions segment as of both September 30, 2020 and 2019. There were no accumulated impairment losses associated with the goodwill of the Reinforcement Materials or Performance Chemicals segments.}