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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 268 $ 559
Marketable securities 17 21
Accounts receivable    
Trade, less allowance for doubtful accounts of $7 in 2021 and $7 in 2020 1,321 1,201
Other 220 231
Inventories 1,564 1,149
Other current assets 196 127
Total current assets 3,586 3,288
Goodwill 482 479
Intangibles 233 236
Deferred tax assets 580 611
Other noncurrent assets 131 169
Investments in affiliates 174 152
Operating lease assets 247 190
Property, plant and equipment, net 2,199 2,251
Total assets 7,632 7,376
Current liabilities    
Short-term debt 23 26
Current portion of long-term debt 8 8
Accounts payable 1,571 1,331
Accrued payroll and employee benefits 184 190
Taxes on income 41 35
Current portion of operating lease liabilities 43 43
Other accrued liabilities 304 308
Total current liabilities 2,174 1,941
Long-term debt, less debt issuance costs of $26 in 2021 and $27 in 2020 2,386 2,420
Noncurrent operating lease liabilities 209 154
Pension and postretirement obligations 398 479
Other noncurrent liabilities 292 368
Total liabilities 5,459 5,362
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests 198 180
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, 144,238,660 and 144,515,658 shares outstanding 2 2
Additional paid-in capital 2,427 2,408
Retained earnings 662 530
Treasury stock, at cost (11,661,591 and 10,442,582 shares) (184) (156)
Accumulated other comprehensive loss (985) (1,026)
Total parent company stockholders' equity 1,922 1,758
Noncontrolling interests 53 76
Total equity 1,975 1,834
Total liabilities, redeemable noncontrolling interests and equity $ 7,632 $ 7,376