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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 529 $ 425
Accounts receivable    
Trade, less allowance for doubtful accounts of $16 in 2023 and $11 in 2022 1,371 1,374
Other 280 202
Inventories 1,676 1,609
Other current assets 247 219
Total current assets 4,103 3,829
Goodwill 263 259
Intangibles 182 201
Deferred tax assets 516 397
Other noncurrent assets 140 123
Investments in affiliates 123 136
Operating lease assets 327 311
Property, plant and equipment, net 2,311 2,193
Total assets 7,965 7,449 Close
Current liabilities    
Short-term debt 22 52
Current portion of long-term debt 35 8
Accounts payable 1,756 1,838
Accrued payroll and employee benefits 288 214
Taxes on income 86 54
Current portion of operating lease liabilities 42 36
Other accrued liabilities 373 277
Total current liabilities 2,602 2,479
Long-term debt, less debt issuance costs of $24 in 2023 and $22 in 2022 2,598 2,348
Noncurrent operating lease liabilities 284 277
Pension and postretirement obligations 334 298
Other noncurrent liabilities 319 249
Total liabilities 6,137 5,651 Close
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 191 195 Close
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, 144,386,484 and 143,366,482 shares outstanding 2 2
Additional paid-in capital 2,255 2,229
Retained earnings 317 321
Treasury stock, at cost (474,981 and zero shares) (9) 0
Accumulated other comprehensive loss (990) (1,001)
Total parent company stockholders' equity 1,575 1,551
Noncontrolling interests 62 52
Total equity 1,637 1,603 Close
Total liabilities, redeemable noncontrolling interests and equity $ 7,965 $ 7,449