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Consolidated Balance Sheet (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 321 $ 268
Marketable securities 19 17
Accounts receivable    
Trade, less allowance for doubtful accounts of $8 in 2022 and $7 in 2021 1,555 1,321
Other 247 220
Inventories 1,594 1,564
Other current assets 217 196
Total current assets 3,953 3,586
Goodwill 458 482
Intangibles 213 233
Deferred tax assets 608 580
Other noncurrent assets 142 131
Investments in affiliates 137 174
Operating lease assets 272 247
Property, plant and equipment, net 2,136 2,199
Total assets 7,919 7,632
Current liabilities    
Short-term debt 235 23
Current portion of long-term debt 8 8
Accounts payable 1,766 1,571
Accrued payroll and employee benefits 220 184
Taxes on income 64 41
Current portion of operating lease liabilities 43 43
Other accrued liabilities 269 304
Total current liabilities 2,605 2,174
Long-term debt, less debt issuance costs of $24 in 2022 and $26 in 2021 2,352 2,386
Noncurrent operating lease liabilities 236 209
Pension and postretirement obligations 372 398
Other noncurrent liabilities 252 292
Total liabilities 5,817 5,459
Commitments and contingencies (Note 14)
Redeemable noncontrolling interests 199 198
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, 143,351,443 and 144,238,660 shares outstanding 2 2
Additional paid-in capital 2,435 2,427
Retained earnings 656 662
Treasury stock, at cost (13,469,074 and 11,661,591 shares) (216) (184)
Accumulated other comprehensive loss (1,028) (985)
Total parent company stockholders' equity 1,849 1,922
Noncontrolling interests 54 53
Total equity 1,903 1,975
Total liabilities, redeemable noncontrolling interests and equity $ 7,919 $ 7,632