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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 837 $ 944
Receivables, less allowances for discounts, returns and credit losses of $36 and $50 in 2023 and 2022, respectively 1,123 1,096
Inventories 857 799
Prepaid and other current assets 193 173
Total current assets 3,010 3,012
Property, plant and equipment, net 631 630
Goodwill 2,738 2,719
Other intangible assets, net 915 930
Other non-current assets 646 661
Total assets 7,940 7,952
Current liabilities:    
Accounts payable 710 723
Accrued and other current liabilities 784 867
Short-term borrowings and current maturities of long-term debt 0 0
Total current liabilities 1,494 1,590
Long-term debt 1,881 1,880
Accrued post-retirement benefits 285 286
Deferred income tax liabilities 215 222
Other non-current accrued liabilities 476 471
Total liabilities 4,351 4,449
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Common Stock 2 2
Capital in excess of par value 2,152 2,134
Retained earnings 2,331 2,292
Treasury stock – at cost 15.9 shares and 15.8 shares in 2023 and 2022, respectively (716) (708)
Accumulated other comprehensive loss (191) (226)
Total stockholders’ equity 3,578 3,494
Non-controlling interests 11 9
Total equity 3,589 3,503
Total liabilities and stockholders’ equity $ 7,940 $ 7,952