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Consolidated Balance Sheet (Current Period Unaudited) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 259 $ 268
Marketable securities 19 17
Accounts receivable    
Trade, less allowance for doubtful accounts of $7 in 2022 and $7 in 2021 1,625 1,321
Other 250 220
Inventories 1,631 1,564
Other current assets 210 196
Total current assets 3,994 3,586
Goodwill 479 482
Intangibles 225 233
Deferred tax assets 603 580
Other noncurrent assets 128 131
Investments in affiliates 175 174
Operating lease assets 244 247
Property, plant and equipment, net 2,205 2,199
Total assets 8,053 7,632
Current liabilities    
Short-term debt 301 23
Current portion of long-term debt 8 8
Accounts payable 1,717 1,571
Accrued payroll and employee benefits 207 184
Taxes on income 55 41
Current portion of operating lease liabilities 39 43
Other accrued liabilities 293 304
Total current liabilities 2,620 2,174
Long-term debt, less debt issuance costs of $25 in 2022 and $26 in 2021 2,376 2,386
Noncurrent operating lease liabilities 211 209
Pension and postretirement obligations 390 398
Other noncurrent liabilities 269 292
Total liabilities 5,866 5,459
Commitments and contingencies (Note 14)
Redeemable noncontrolling interests 200 198
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, 143,334,271 and 144,238,660 shares outstanding 2 2
Additional paid-in capital 2,431 2,427
Retained earnings 664 662
Treasury stock, at cost (13,466,902 and 11,661,591 shares) (216) (184)
Accumulated other comprehensive loss (949) (985)
Total parent company stockholders' equity 1,932 1,922
Noncontrolling interests 55 53
Total equity 1,987 1,975
Total liabilities, redeemable noncontrolling interests and equity $ 8,053 $ 7,632