CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash investments	$ 854	$ 1,326
Receivables	1,330	1,138
Prepaid expenses and other	113	149
Inventories:
Finished goods	642	552
Raw material	357	242
Work in process	108	82
Total inventories	1,107	876
Total current assets	3,404	3,489
Property and equipment, net	887	908
Operating lease right-of-use assets	171	166
Goodwill	617	563
Other intangible assets, net	395	357
Other assets	121	294
Total assets	5,595	5,777
Current Liabilities:
Accounts payable	1,037	893
Notes payable	10	3
Accrued liabilities	832	1,038
Total current liabilities	1,879	1,934
Long-term debt	2,950	2,792
Noncurrent operating lease liabilities	155	149
Other liabilities	485	481
Total liabilities	5,469	5,356
Commitments and contingencies (Note P)
Redeemable Noncontrolling Interest, Equity, Redemption Value	25	0
Masco Corporation's shareholders' equity:
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2021 – 243,500,000; 2020 – 258,200,000	243	258
Preferred shares authorized: 1,000,000; Issued and outstanding: 2021 and 2020 – None	0	0
Paid-in capital	0	0
Retained (deficit) earnings	(595)	79
Accumulated other comprehensive income (loss)	226	(142)
Total Masco Corporation's shareholders' (deficit) equity	(126)	195
Noncontrolling interest	227	226
Total equity	101	421
Total liabilities and equity	$ 5,595	$ 5,777

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).