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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 414 $ 130
Accounts receivable, net of allowance of $X and $X 470 426
Inventories, net 484 636
Other receivables 75 67
Prepaid expenses and other 41 30
Assets held for sale 0 51
Total current assets 1,484 1,340
Non-current assets:    
Property and equipment, net of accumulated depreciation of $X and $X 102 93
Operating lease right-of-use assets, net (Note 5) 127 84
Goodwill 1,154 1,154
Other intangibles, net (Note 6) 572 643
Investments and other 87 47
Total assets 3,526 3,361
Current liabilities:    
Accounts payable 429 520
Current maturities of long-term debt and other borrowings (Note 7) 31 62
Accrued payroll and related liabilities 50 44
Accrued taxes 48 18
Other current liabilities 162 164
Liabilities held for sale 0 21
Total current liabilities 720 829
Non-current liabilities:    
Long-term debt and other borrowings, net (Note 7) 1,095 1,125
Deferred taxes 41 47
Other liabilities 141 94
Total liabilities 1,997 2,095
Commitments and contingencies (Note 10)
Mezzanine equity:    
Redeemable non-controlling interests (Note 11) 9 10
Redeemable series A convertible preferred stock, $0.01 par value, $1,000 per share liquidation preference, 250,000 shares authorized, issued, and outstanding as of June 30, 2020 (Note 12) 244 0
Shareholders' equity:    
Common stock, $0.01 par value per share, 675,000,000 shares authorized; 112,674,657 shares issued and outstanding as of June 30, 2020; 111,620,507 shares issued and outstanding as of December 31, 2019 1 1
Accumulated other comprehensive loss (Note 13) (107) (86)
Additional paid-in capital 2,404 2,381
Accumulated deficit (1,022) (1,040)
Total shareholders’ equity 1,276 1,256
Total liabilities, mezzanine equity, and shareholders’ equity $ 3,526 $ 3,361