CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash investments	$ 1,326	$ 697
Receivables	1,138	997
Inventories	876	754
Prepaid expenses and other	149	90
Assets held for sale	0	173
Total current assets	3,489	2,711
Property and equipment, net	908	878
Goodwill	563	509
Other intangible assets, net	357	259
Operating lease right-of-use assets	166	176
Other assets	294	139
Assets held for sale	0	355
Total assets	5,777	5,027
Current Liabilities:
Accounts payable	893	697
Notes payable	3	2
Accrued liabilities	1,038	700
Liabilities held for sale	0	149
Total current liabilities	1,934	1,548
Long-term debt	2,792	2,771
Noncurrent operating lease liabilities	149	162
Other liabilities	481	589
Liabilities held for sale	0	13
Total liabilities	5,356	5,083
Commitments and contingencies (Note U)
Masco Corporation's shareholders' equity
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2020 – 258,200,000; 2019 – 275,600,000	258	276
Preferred shares authorized: 1,000,000; Issued and outstanding: 2020 and 2019 – None	0	0
Paid-in capital	0	0
Retained earnings (deficit)	79	(332)
Accumulated other comprehensive loss	(142)	(179)
Total Masco Corporation's shareholders' equity (deficit)	195	(235)
Noncontrolling interest	226	179
Total equity	421	(56)
Total liabilities and equity	$ 5,777	$ 5,027

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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- 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).