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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents (including restricted cash of $2 and $4, respectively) $ 288 $ 204
Accounts receivable (net of allowance for doubtful accounts of $4 and $3, respectively) 449 331
Inventories:    
Finished and in-process goods 230 180
Raw materials and supplies 114 85
Total current assets held for sale 1 114
Other current assets 48 39
Total current assets 1,130 953
Investment in unconsolidated entities 11 10
Deferred Tax Assets, Net 8 7
Long-term assets held for sale (see Note 4) 0 342
Other long-term assets 80 85
Property and equipment    
Land 79 79
Buildings 126 122
Machinery and equipment 1,293 1,270
Property, plant and equipment, gross 1,498 1,471
Less accumulated depreciation (282) (212)
Property, plant and equipment, net 1,216 1,259
Operating lease assets 99 103
Goodwill 164 164
Other intangible assets, net 1,046 1,079
Total assets 3,754 4,002
Current liabilities    
Accounts payable 357 339
Debt payable within one year 43 82
Interest payable 28 30
Income taxes payable 20 6
Accrued payroll and incentive compensation 59 42
Current liabilities associated with assets held for sale (see Note 4) 4 70
Current portion of operating lease liabilities 18 19
Other current liabilities 103 111
Total current liabilities 632 699
Long-term liabilities    
Long-term debt 1,567 1,710
Long-term pension and post employment benefit obligations 236 250
Deferred income taxes 154 161
Operating lease liabilities 74 76
Long-term liabilities associated with assets held for sale (see Note 4) 0 74
Other long-term liabilities 208 209
Total liabilities 2,871 3,179
Equity    
Common stock —$0.01 par value; 100 shares authorized, issued and outstanding 0 0
Paid-in capital 1,184 1,169
Accumulated other comprehensive loss (31) (27)
Accumulated deficit (270) (319)
Total equity 883 823
Total liabilities and equity $ 3,754 $ 4,002
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
net allowance for doubtful accounts $ 4 $ 3