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Consolidated Statement of Financial Position (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 223 $ 217
Trade receivables, net of allowances of $8 and $7, respectively 161 177
Inventories, net 252 237
Other current assets 36 48
Current assets held for sale 0 2
Total current assets 672 681
Property, plant and equipment, net of accumulated depreciation of $463 and $450, respectively 155 154
Goodwill 12 12
Intangible assets, net 26 28
Operating lease right-of-use assets 36 39
Restricted cash 62 62
Pension and other postretirement assets 1,179 1,233
Other long-term assets 79 76
TOTAL ASSETS 2,221 2,285
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Accounts payable, trade 129 134
Short-term borrowings and current portion of long-term debt 1 1
Current portion of operating leases 14 15
Other current liabilities 148 143
Total current liabilities 292 293
Long-term debt, net of current portion 324 316
Pension and other postretirement liabilities 231 230
Operating leases, net of current portion 28 31
Other long-term liabilities 172 171
Total liabilities 1,047 1,041
Commitments and Contingencies (Note 7)
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference 207 203
Equity    
Common stock, $0.01 par value 0 0
Additional paid in capital 1,159 1,160
Treasury stock, at cost (11) (11)
Accumulated deficit (502) (570)
Accumulated other comprehensive income 321 462
Total shareholders’ equity 967 1,041
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY 2,221 2,285
Series A Preferred Stock [Member]    
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference $ 207 $ 203