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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 559 $ 508
Marketable securities 21 19
Accounts receivable    
Trade, less allowance for doubtful accounts of $7 in 2020 and $9 in 2019 1,201 1,103
Other 231 202
Inventories 1,149 1,193
Other current assets 127 137
Total current assets 3,288 3,162
Goodwill 479 493
Intangible Assets, Net (Excluding Goodwill), Total 236 240
Deferred tax assets 611 580
Other noncurrent assets 169 120
Investments in affiliates 152 182
Operating lease assets 190 178
Property, plant and equipment, net 2,251 2,265
Total assets 7,376 7,220
Current liabilities    
Short-term debt 26 14
Current portion of long-term debt 8 20
Accounts payable 1,331 1,255
Accrued payroll and employee benefits 190 206
Taxes on income 35 46
Current portion of operating lease liabilities 43 42
Other accrued liabilities 308 262
Total current liabilities 1,941 1,845
Long-term debt, less debt issuance costs of $27 in 2020 and $28 in 2019 2,420 2,336
Noncurrent operating lease liabilities 154 140
Pension and postretirement obligations 479 459
Other noncurrent liabilities 368 305
Total liabilities 5,362 5,085
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests 180 167
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, 144,515,658 and 143,942,539 shares outstanding 2 2
Additional paid-in capital 2,408 2,386
Retained earnings 530 622
Treasury stock, at cost (10,442,582 and 10,111,191 shares) (156) (150)
Accumulated other comprehensive loss (1,026) (987)
Total parent company stockholders' equity 1,758 1,873
Noncontrolling interests 76 95
Total equity 1,834 1,968
Total liabilities and equity $ 7,376 $ 7,220