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Consolidated Balance Sheet (Current Period Unaudited) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 694 $ 508
Marketable securities 19 19
Accounts receivable    
Trade, less allowance for doubtful accounts of $7 in 2020 and $9 in 2019 890 1,103
Other 175 202
Inventories 1,116 1,193
Other current assets 148 137
Total current assets 3,042 3,162
Goodwill 451 493
Intangibles 228 240
Deferred tax assets 573 580
Other noncurrent assets 124 120
Investments in affiliates 164 182
Operating lease assets 177 178
Property, plant and equipment, net 2,149 2,265
Total assets 6,908 7,220
Current liabilities    
Short-term debt 7 14
Current portion of long-term debt 36 20
Accounts payable 796 1,255
Accrued payroll and employee benefits 172 206
Taxes on income 45 46
Current portion of operating lease liabilities 42 42
Other accrued liabilities 281 262
Total current liabilities 1,379 1,845
Long-term debt, less debt issuance costs of $32 in 2020 and $28 in 2019 2,827 2,336
Noncurrent operating lease liabilities 139 140
Pension and postretirement obligations 445 459
Other noncurrent liabilities 239 305
Total liabilities 5,029 5,085
Redeemable noncontrolling interests 159 167
Parent company stockholders' equity    
Preferred stock, 50,000,000 shares authorized, $0.01 par value, no shares outstanding 0 0
Common stock, 450,000,000 shares authorized, $0.01 par value, 144,482,275 and 143,942,539 shares outstanding 2 2
Additional paid-in capital 2,390 2,386
Retained earnings 490 622
Treasury stock, at cost (10,433,465 and 10,111,191 shares) (156) (150)
Accumulated other comprehensive loss (1,082) (987)
Total parent company stockholders' equity 1,644 1,873
Noncontrolling interests 76 95
Total equity 1,720 1,968
Total liabilities and equity $ 6,908 $ 7,220