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Consolidated Statement of Financial Position - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 255 $ 217
Trade receivables, net of allowances of $8 and $7 respectively 195 177
Inventories, net 217 237
Other current assets 45 48
Current assets held for sale 0 2
Total current assets 712 681
Property, plant and equipment, net 169 154
Goodwill 12 12
Intangible assets, net 24 28
Operating lease right-of-use assets 30 39
Restricted cash 110 62
Pension and other postretirement assets 1,216 1,233
Other long-term assets 82 76
TOTAL ASSETS 2,355 2,285
LIABILITIES, REDEEMABLE, CONVERTIBLE PREFERRED STOCK AND EQUITY    
Accounts payable, trade 125 134
Short-term borrowings and current portion of long-term debt 1 1
Current portion of operating leases 13 15
Other current liabilities 144 143
Total current liabilities 283 293
Long-term debt, net of current portion 457 316
Pension and other postretirement liabilities 237 230
Operating leases, net of current portion 24 31
Other long-term liabilities 213 171
Total liabilities 1,214 1,041
Commitments and contingencies (Note 11)
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference 210 203
Equity    
Common stock, $0.01 par value 0 0
Additional paid in capital 1,156 1,160
Treasury stock, at cost (11) (11)
Accumulated deficit (495) (570)
Accumulated other comprehensive income 281 462
Total equity 931 1,041
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY 2,355 2,285
Redeemable Preferred Stock [Member]    
LIABILITIES, REDEEMABLE, CONVERTIBLE PREFERRED STOCK AND EQUITY    
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference $ 210 $ 203