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Consolidated Balance Sheet (Current Period Unaudited) - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 628 $ 508
Marketable securities 23 19
Accounts receivable    
Trade, less allowance for doubtful accounts of $7 in 2020 and $9 in 2019 1,109 1,103
Other 192 202
Inventories 1,213 1,193
Other current assets 142 137
Total current assets 3,307 3,162
Goodwill 441 493
Intangibles 230 240
Deferred tax assets 603 580
Other noncurrent assets 133 120
Investments in affiliates 178 182
Operating lease assets 171 178
Property, plant and equipment, net 2,172 2,265
Total assets 7,235 7,220
Current liabilities    
Short-term debt 312 14
Current portion of long-term debt 28 20
Accounts payable 1,181 1,255
Accrued payroll and employee benefits 166 206
Taxes on income 44 46
Current portion of operating lease liabilities 42 42
Other accrued liabilities 294 262
Total current liabilities 2,067 1,845
Long-term debt, less debt issuance costs of $26 in 2020 and $28 in 2019 2,335 2,336
Noncurrent operating lease liabilities 134 140
Pension and postretirement obligations 440 459
Other noncurrent liabilities 224 305
Total liabilities 5,200 5,085
Commitments and contingencies (Note 13)
Redeemable noncontrolling interests 175 167
Parent company stockholders' equity    
Preferred stock, 50,000,000 shares authorized, $0.01 par value, no shares outstanding 0 0
Common stock, 450,000,000 shares authorized, $0.01 par value, 144,480,975 and 143,942,539 shares outstanding 2 2
Additional paid-in capital 2,391 2,386
Retained earnings 644 622
Treasury stock, at cost (10,432,777 and 10,111,191 shares) (156) (150)
Accumulated other comprehensive loss (1,098) (987)
Total parent company stockholders' equity 1,783 1,873
Noncontrolling interests 77 95
Total equity 1,860 1,968
Total liabilities and equity $ 7,235 $ 7,220