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Consolidated Balance Sheet (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 507 $ 494
Accounts receivable    
Trade, less allowance for doubtful accounts of $17 in 2025 and $15 in 2024 1,425 1,195
Other 236 261
Inventories 1,617 1,547
Other current assets 246 206
Total current assets 4,031 3,703
Goodwill 257 250
Intangibles 148 150
Deferred tax assets 579 560
Other noncurrent assets 137 189
Investments in affiliates 127 126
Operating lease assets 299 293
Property, plant and equipment, net 2,222 2,214
Total assets 7,800 7,485
Current liabilities    
Short-term debt 130 8
Current portion of long-term debt 215 214
Accounts payable 1,659 1,522
Accrued payroll and employee benefits 273 236
Taxes on income 90 69
Current portion of operating lease liabilities 46 44
Other accrued liabilities 415 468
Total current liabilities 2,828 2,561
Long-term debt, less debt issuance costs of $18 in 2025 and $19 in 2024 2,428 2,389
Noncurrent operating lease liabilities 262 258
Pension and postretirement obligations 304 295
Other noncurrent liabilities 343 397
Total liabilities 6,165 5,900
Commitments and contingencies (Note 13)
Redeemable noncontrolling interests 189 189
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, 145,726,212 and 144,993,614 shares outstanding 2 2
Additional paid-in capital 2,294 2,282
Retained earnings 214 204
Treasury stock, at cost (1,304,731 and 837,803 shares) (21) (13)
Accumulated other comprehensive loss (1,110) (1,142)
Total parent company stockholders' equity 1,379 1,333
Noncontrolling interests 67 63
Total equity 1,446 1,396
Total liabilities, redeemable noncontrolling interests and equity $ 7,800 $ 7,485