Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Current assets:
Cash and cash equivalents	$ 169	$ 175
Accounts and notes receivable, net of reserve for doubtful accounts of $3 and $7	530	637
Inventories	466	511
Prepaid expenses and other current assets	45	63
Total current assets	1,210	1,386
Property, plant and equipment	3,546	3,520
Accumulated depreciation	(2,198)	(2,224)
Net property, plant and equipment	1,348	1,296
Goodwill	90	93
Equity affiliates	39	52
Intangible assets, net	96	98
Assets held for rent		118
Deferred income taxes	163	134
Other assets	58	67
Total assets	3,004	3,244
Current liabilities:
Short-term borrowings	33	249
Accounts payable and accrued liabilities	537	613
Income taxes payable	22	29
Current portion of long-term debt	7	35
Redeemable preferred stock		26
Total current liabilities	599	952
Long-term debt	1,024	719
Deferred income taxes	41	42
Other liabilities	206	252
Commitments and contingencies (Note T)
Preferred stock:
Authorized: 2,000,000 shares of $1 par value Issued and Outstanding: None and none
Common stock:
Authorized: 200,000,000 shares of $1 par value Issued: 57,250,454 and 60,566,375 shares Outstanding 57,080,589 and 60,366,569 shares	57	61
Less cost of 169,865 and 199,806 shares of common treasury stock	(5)	(7)
Retained earnings	1,337	1,417
Accumulated other comprehensive income (loss)	(391)	(317)
Total Cabot Corporation stockholders’ equity	998	1,154
Noncontrolling interests	136	125
Total stockholders’ equity	1,134	1,279
Total liabilities and stockholders’ equity	$ 3,004	$ 3,244