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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 425 $ 268
Marketable securities 17
Accounts receivable    
Trade, less allowance for doubtful accounts of $11 in 2022 and $7 in 2021 1,374 1,321
Other 202 220
Inventories 1,609 1,564
Other current assets 219 196
Total current assets 3,829 3,586
Goodwill 259 482
Intangibles 201 233
Deferred tax assets 397 580
Other noncurrent assets 123 131
Investments in affiliates 136 174
Operating lease assets 311 247
Property, plant and equipment, net 2,193 2,199
Total assets 7,449 7,632
Current liabilities    
Short-term debt 52 23
Current portion of long-term debt 8 8
Accounts payable 1,838 1,571
Accrued payroll and employee benefits 214 184
Taxes on income 54 41
Current portion of operating lease liabilities 36 43
Other accrued liabilities 277 304
Total current liabilities 2,479 2,174
Long-term debt, less debt issuance costs of $22 in 2022 and $26 in 2021 2,348 2,386
Noncurrent operating lease liabilities 277 209
Pension and postretirement obligations 298 398
Other noncurrent liabilities 249 292
Total liabilities 5,651 5,459
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 195 198
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, 143,366,482 and 144,238,660 shares outstanding 2 2
Additional paid-in capital 2,229 2,427
Retained earnings 321 662
Treasury stock, at cost (zero and 11,661,591 shares) 0 (184)
Accumulated other comprehensive loss (1,001) (985)
Total parent company stockholders' equity 1,551 1,922
Noncontrolling interests 52 53
Total equity 1,603 1,975
Total liabilities, redeemable noncontrolling interests and equity $ 7,449 $ 7,632