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Consolidated Statement of Financial Position - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
ASSETS    
Cash and cash equivalents $ 233 $ 233
Trade receivables, net of allowances of $8 and $9 208 232
Inventories, net 215 231
Restricted cash - current portion 12 8
Other current assets 36 39
Current assets held for sale 2 167
Total current assets 706 910
Property, plant and equipment, net of accumulated depreciation of $423 and $395, respectively [1] 181 216
Goodwill 12 12
Intangible assets, net 47 58
Operating lease right-of-use assets 49  
Restricted cash 45 11
Deferred income taxes 147 160
Other long-term assets 228 143
TOTAL ASSETS 1,415 1,510
LIABILITIES, REDEEMABLE, CONVERTIBLE PREFERRED STOCK AND EQUITY (DEFICIT)    
Accounts payable, trade 153 130
Short-term borrowings and current portion of long-term debt 2 396
Current portion of operating leases 12  
Other current liabilities 201 209
Current liabilities held for sale   43
Total current liabilities 368 778
Long-term debt, net of current portion 109 5
Pension and other postretirement liabilities 378 379
Operating leases, net of current portion 48  
Other long-term liabilities 231 178
Total liabilities 1,134 1,340
Commitments and contingencies (Note 12)
Equity (Deficit)    
Common stock, $0.01 par value
Additional paid in capital 604 617
Treasury stock, at cost (9) (9)
Accumulated deficit (79) (200)
Accumulated other comprehensive loss (417) (411)
Total equity (deficit) 99 (3)
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY (DEFICIT) 1,415 1,510
Convertible Series A Preferred Stock [Member]    
LIABILITIES, REDEEMABLE, CONVERTIBLE PREFERRED STOCK AND EQUITY (DEFICIT)    
Redeemable, convertible Series A preferred stock, no par value, $100 per share liquidation preference $ 182 $ 173
[1] Long-lived assets are comprised of property, plant and equipment, net.