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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 944 $ 1,349
Receivables, less allowances for discounts, returns and credit losses of $50 and $44 in 2022 and 2021, respectively 1,096 953
Inventories 799 700
Prepaid and other current assets 173 158
Total current assets 3,012 3,160
Property, plant and equipment, net 630 644
Goodwill 2,719 2,792
Other intangible assets, net 930 1,016
Other non-current assets 661 664
Total assets 7,952 8,276
Current liabilities:    
Accounts payable 723 639
Accrued and other current liabilities 867 752
Total current liabilities 1,590 1,391
Long-term debt, net 1,880 2,440
Accrued post-retirement benefit obligations 286 438
Deferred income tax liabilities 222 287
Other non-current accrued liabilities 471 494
Total liabilities 4,449 5,050
Commitment and Contingencies (Note 19)
Common stock — par value $0.01 per share:    
Authorized 750.0 shares, issued 196.0 and 195.6 shares in 2022 and 2021, respectively 2 2
Capital in excess of par value 2,134 2,089
Retained earnings 2,292 2,154
Treasury stock – at cost 15.8 shares and 15.2 shares in 2022 and 2021, respectively (708) (656)
Accumulated other comprehensive loss (226) (371)
Total stockholders’ equity 3,494 3,218
Non-controlling interest 9 8
Total equity 3,503 3,226
Total liabilities and stockholders’ equity $ 7,952 $ 8,276