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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents (including restricted cash of $3 and $4, respectively) $ 134 $ 204
Accounts receivable (net of allowance for doubtful accounts of $3) 410 331
Inventories:    
Finished and in-process goods 196 180
Raw materials and supplies 96 85
Total current assets held for sale 141 114
Other current assets 51 39
Total current assets 1,028 953
Investment in unconsolidated entities 11 10
Deferred Tax Assets, Net 7 7
Long-term assets held for sale (see Note 4) 325 342
Other long-term assets 77 85
Property and equipment    
Land 78 79
Buildings 122 122
Machinery and equipment 1,260 1,270
Property, plant and equipment, gross 1,460 1,471
Less accumulated depreciation (244) (212)
Property, plant and equipment, net 1,216 1,259
Operating lease assets 100 103
Goodwill 164 164
Other intangible assets, net 1,057 1,079
Total assets 3,985 4,002
Current liabilities    
Accounts payable 349 339
Debt payable within one year 52 82
Interest payable 20 30
Income taxes payable 12 6
Accrued payroll and incentive compensation 49 42
Current liabilities associated with assets held for sale (see Note 4) 88 70
Current portion of operating lease liabilities 19 19
Other current liabilities 99 111
Total current liabilities 688 699
Long-term liabilities    
Long-term debt 1,714 1,710
Long-term pension and post employment benefit obligations 235 250
Deferred income taxes 157 161
Operating lease liabilities 74 76
Long-term liabilities associated with assets held for sale (see Note 4) 74 74
Other long-term liabilities 207 209
Total liabilities 3,149 3,179
Equity    
Common stock —$0.01 par value; 100 shares authorized, issued and outstanding 0 0
Paid-in capital 1,175 1,169
Accumulated other comprehensive loss (31) (27)
Accumulated deficit (308) (319)
Total equity 836 823
Total liabilities and equity 3,985 4,002
net allowance for doubtful accounts $ 3 $ 3
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
shares authorized 100 100
Common Stock, Shares, Issued 100 100
Shares, Outstanding 100 100