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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents (including restricted cash of $15) $ 96 $ 128
Accounts receivable (net of allowance for doubtful accounts of $16) 499 412
Inventories:    
Finished and in-process goods 242 240
Raw materials and supplies 109 94
Other current assets 69 57
Total current assets 1,015 931
Investment in unconsolidated entities 20 19
Deferred income taxes   0
Other assets, net 42 34
Property and equipment    
Land 90 89
Buildings 287 285
Machinery and equipment 2,320 2,293
Property, plant and equipment, gross 2,697 2,667
Less accumulated depreciation (1,870) (1,826)
Property, plant and equipment, net 827 841
Operating Lease, Right-of-Use Asset 95 0
Goodwill 108 109
Other intangible assets, net 24 27
Total assets 2,131 1,961
Current liabilities    
Accounts payable 293 384
Debt payable within one year 438 3,716
Interest payable 7 82
Income taxes payable 6 5
Accrued payroll and incentive compensation 38 52
Operating Lease, Liability, Current 21 0
Financing fees payable 104 0
Other current liabilities 106 106
Total current liabilities 1,013 4,345
Long-term liabilities    
Liabilities Subject to Compromise 3,672 0
Long-term debt 90 99
Long-term pension and post employment benefit obligations 184 221
Deferred income taxes 15 15
Operating Lease, Liability, Noncurrent 74 0
Other long-term liabilities 164 195
Total liabilities 5,212 4,875
Commitments and contingencies (see Note 7)  
Deficit    
Common stock—$0.01 par value; 300,000,000 shares authorized, 170,605,906 issued and 82,556,847 outstanding at June 30, 2019 and December 31, 2018 1 1
Paid-in capital 526 526
Treasury stock, at cost—88,049,059 shares (296) (296)
Accumulated other comprehensive loss (26) (18)
Accumulated deficit (3,285) (3,125)
Total Hexion Inc. shareholder’s deficit (3,080) (2,912)
Noncontrolling interest (1) (2)
Total deficit (3,081) (2,914)
Total liabilities and deficit $ 2,131 $ 1,961