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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 1,113 $ 1,349
Receivables, less allowances for discounts, returns and credit losses of $41 and $44 in 2022 and 2021, respectively 1,024 953
Inventories 852 700
Prepaid and other current assets 185 158
Total current assets 3,174 3,160
Property, plant and equipment, net 608 644
Goodwill 2,714 2,792
Other intangible assets, net 975 1,016
Other non-current assets 718 664
Total assets 8,189 8,276
Current liabilities:    
Accounts payable 648 639
Accrued and other current liabilities 782 752
Short-term borrowings and current maturities of long-term debt 521 0
Total current liabilities 1,951 1,391
Long-term debt 1,879 2,440
Accrued post-retirement benefits 408 438
Deferred income tax liabilities 292 287
Other non-current accrued liabilities 456 494
Total liabilities 4,986 5,050
Commitments and contingencies (Note 16)
Stockholders’ equity:    
Common Stock 2 2
Capital in excess of par value 2,111 2,089
Retained earnings 2,238 2,154
Treasury stock – at cost 15.8 shares and 15.2 shares in 2022 and 2021, respectively (708) (656)
Accumulated other comprehensive loss (448) (371)
Total stockholders’ equity 3,195 3,218
Non-controlling interests 8 8
Total equity 3,203 3,226
Total liabilities and stockholders’ equity $ 8,189 $ 8,276