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Consolidated Statement of Financial Position (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 246 $ 217
Trade receivables, net of allowances of $7 in both periods 191 177
Inventories, net 239 237
Other current assets 34 48
Current assets held for sale 2 2
Total current assets 712 681
Property, plant and equipment, net of accumulated depreciation of $458 and $450, respectively 161 154
Goodwill 12 12
Intangible assets, net 25 28
Operating lease right-of-use assets 33 39
Restricted cash 119 62
Pension and other postretirement assets 1,212 1,233
Other long-term assets 83 76
TOTAL ASSETS 2,357 2,285
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Accounts payable, trade 124 134
Short-term borrowings and current portion of long-term debt 1 1
Current portion of operating leases 13 15
Other current liabilities 131 143
Current liabilities held for sale 2 0
Total current liabilities 271 293
Long-term debt, net of current portion 451 316
Pension and other postretirement liabilities 225 230
Operating leases, net of current portion 26 31
Other long-term liabilities 217 171
Total liabilities 1,190 1,041
Commitments and Contingencies (Note 8)
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference 208 203
Equity    
Common stock, $0.01 par value 0 0
Additional paid in capital 1,158 1,160
Treasury stock, at cost (11) (11)
Accumulated deficit (500) (570)
Accumulated other comprehensive income 312 462
Total shareholders’ equity 959 1,041
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY 2,357 2,285
Series A Preferred Stock [Member]    
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference $ 208 $ 203