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Consolidated Balance Sheet (Current Period Unaudited) - USD ($)
$ in Millions
Sep. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 956 $ 508
Marketable securities 22 19
Accounts receivable    
Trade, less allowance for doubtful accounts of $7 in 2020 and $9 in 2019 1,239 1,103
Other 171 202
Inventories 1,087 1,193
Other current assets 129 137
Total current assets 3,604 3,162
Goodwill 458 493
Intangibles 235 240
Deferred tax assets 594 580
Other noncurrent assets 126 120
Investments in affiliates 174 182
Operating lease assets 177 178
Property, plant and equipment, net 2,154 2,265
Total assets 7,522 7,220
Current liabilities    
Short-term debt 12 14
Current portion of long-term debt 35 20
Accounts payable 1,187 1,255
Accrued payroll and employee benefits 193 206
Taxes on income 59 46
Current portion of operating lease liabilities 43 42
Other accrued liabilities 308 262
Total current liabilities 1,837 1,845
Long-term debt, less debt issuance costs of $31 in 2020 and $28 in 2019 2,839 2,336
Noncurrent operating lease liabilities 141 140
Pension and postretirement obligations 457 459
Other noncurrent liabilities 303 305
Total liabilities 5,577 5,085
Commitments and contingencies (Note 13)
Redeemable noncontrolling interests 152 167
Parent company stockholders' equity    
Preferred stock, 50,000,000 shares authorized, $0.01 par value, no shares outstanding 0 0
Common stock, 450,000,000 shares authorized, $0.01 par value, 144,491,212 and 143,942,539 shares outstanding 2 2
Additional paid-in capital 2,392 2,386
Retained earnings 535 622
Treasury stock, at cost (10,437,276 and 10,111,191 shares) (156) (150)
Accumulated other comprehensive loss (1,070) (987)
Total parent company stockholders' equity 1,703 1,873
Noncontrolling interests 90 95
Total equity 1,793 1,968
Total liabilities and equity $ 7,522 $ 7,220