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Consolidated Balance Sheet (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 421 $ 425
Accounts receivable    
Trade, less allowance for doubtful accounts of $11 in 2023 and $11 in 2022 1,562 1,374
Other 292 202
Inventories 1,713 1,609
Other current assets 232 219
Total current assets 4,220 3,829
Goodwill 256 259
Intangibles 184 201
Deferred tax assets 437 397
Other noncurrent assets 128 123
Investments in affiliates 135 136
Operating lease assets 327 311
Property, plant and equipment, net 2,250 2,193
Total assets 7,937 7,449
Current liabilities    
Short-term debt 37 52
Current portion of long-term debt 31 8
Accounts payable 1,883 1,838
Accrued payroll and employee benefits 273 214
Taxes on income 85 54
Current portion of operating lease liabilities 38 36
Other accrued liabilities 323 277
Total current liabilities 2,670 2,479
Long-term debt, less debt issuance costs of $25 in 2023 and $22 in 2022 2,563 2,348
Noncurrent operating lease liabilities 287 277
Pension and postretirement obligations 297 298
Other noncurrent liabilities 263 249
Total liabilities 6,080 5,651
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests 210 195
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, 144,337,917 and 143,366,482 shares outstanding 2 2
Additional paid-in capital 2,249 2,229
Retained earnings 353 321
Treasury stock, at cost (450,729 and zero shares) (8)
Accumulated other comprehensive loss (1,007) (1,001)
Total parent company stockholders' equity 1,589 1,551
Noncontrolling interests 58 52
Total equity 1,647 1,603
Total liabilities, redeemable noncontrolling interests and equity $ 7,937 $ 7,449