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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 50 $ 38
Accounts receivable (net of allowance for doubtful accounts of $1 and $1) 342 348
Other receivables 3 15
Related party receivables 18 7
Inventories 682 722
Other current assets 38 41
Total current assets 1,133 1,171
Property, plant and equipment (net of accumulated depreciation of $842 and $821) 714 722
Operating lease right-of-use assets, net 62 65
Goodwill 1,879 1,879
Intangible assets, net 1,023 1,031
Other assets 54 61
Total assets 4,865 4,929
Liabilities    
Accounts payable 230 252
Related party payables 65 46
Current portion of long-term debt 25 25
Current operating lease liabilities 15 14
Income taxes payable 25 14
Accrued and other current liabilities 130 145
Total current liabilities 490 496
Long-term debt 2,061 2,066
Long-term operating lease liabilities 49 53
Deferred income taxes 354 365
Long-term postretirement benefit obligation 34 34
Other liabilities 52 47
Total liabilities 3,040 3,061
Commitments and contingencies (Note 7)
Stockholders’ equity    
Common stock, $0.001 par value; 2,000 shares authorized; 210 shares issued and outstanding 0 0
Additional paid-in capital 1,386 1,385
Accumulated other comprehensive income 39 52
Retained earnings 400 431
Total stockholders' equity 1,825 1,868
Total liabilities and stockholders' equity $ 4,865 $ 4,929