CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash investments	$ 956	$ 1,468
Short-term bank deposits	135	248
Receivables	1,113	853
Prepaid expenses and other	88	72
Inventories:
Finished goods	433	358
Raw material	237	238
Work in process	95	91
Total	765	687
Total current assets	3,057	3,328
Property and equipment, net	1,039	1,027
Goodwill	840	839
Other intangible assets, net	156	160
Other assets	232	310
Total assets	5,324	5,664
Current liabilities:
Notes payable	3	1,004
Accounts payable	913	749
Accrued liabilities	716	752
Total current liabilities	1,632	2,505
Long-term debt	2,993	2,403
Other liabilities	629	698
Total liabilities	5,254	5,606
Commitments and contingencies
Masco Corporation’s shareholders’ equity:
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2016 – 326,200,000 ; 2015 – 330,500,000	326	330
Preferred shares authorized: 1,000,000; Issued and outstanding: 2016 and 2015 – None	0	0
Paid-in capital	0	0
Retained deficit	(273)	(300)
Accumulated other comprehensive loss	(170)	(165)
Total Masco Corporation’s shareholders’ deficit	(117)	(135)
Noncontrolling interest	187	193
Total equity	70	58
Total liabilities and equity	$ 5,324	$ 5,664

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).