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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Mar. 31, 2011
Current assets:      
Cash and cash equivalents $ 299 $ 400 $ 430
Receivables, less allowances for losses and discounts ($42 at March 31, 2012, $38 at December 31, 2011, and $43 at March 31, 2011) 1,199 1,158 1,223
Inventories 1,237 1,061 1,103
Prepaid expenses 130 124 78
Total current assets 2,865 2,743 2,834
Investments and other assets:      
Equity investments 316 315 301
Repair parts inventories 153 155 154
Pension assets 121 116 59
Other assets 695 687 634
Goodwill 2,127 2,082 2,900
Total other assets 3,412 3,355 4,048
Property, plant and equipment, at cost 7,049 6,899 7,213
Less accumulated depreciation 4,165 4,022 4,070
Net property, plant and equipment 2,884 2,877 3,143
Total assets 9,161 8,975 10,025
Current liabilities:      
Short-term loans and long-term debt due within one year 406 406 372
Current portion of asbestos-related liabilities 165 165 170
Accounts payable 943 1,038 889
Other liabilities 602 636 646
Total current liabilities 2,116 2,245 2,077
Long-term debt 3,724 3,627 3,991
Deferred taxes 214 212 215
Pension benefits 856 871 576
Nonpension postretirement benefits 270 269 260
Other liabilities 410 404 403
Asbestos-related liabilities 276 306 273
Commitments and contingencies         
Share owners' equity of the Company:      
Common stock, par value $.01 per share, 250,000,000 shares authorized, 181,658,637, 181,174,050, and 181,051,389 shares issued (including treasury shares), respectively 2 2 2
Capital in excess of par value 2,996 2,991 3,041
Treasury stock, at cost, 16,732,262, 16,799,903, and 17,045,437 shares, respectively (404) (405) (411)
Retained earnings (loss) (258) (379) 203
Accumulated other comprehensive loss (1,205) (1,321) (806)
Total share owners' equity of the Company 1,131 888 2,029
Noncontrolling interests 164 153 201
Total share owners' equity 1,295 1,041 2,230
Total liabilities and share owners' equity $ 9,161 $ 8,975 $ 10,025