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Consolidated Statement of Financial Position (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 251 $ 255
Trade receivables, net of allowances of $7 and $8, respectively 139 195
Inventories, net 232 217
Other current assets 38 45
Total current assets 660 712
Property, plant and equipment, net of accumulated depreciation of $473 and $470, respectively 177 169
Goodwill 12 12
Intangible assets, net 22 24
Operating lease right-of-use assets 29 30
Restricted cash 100 110
Pension and other postretirement assets 1,279 1,216
Other long-term assets 80 82
TOTAL ASSETS 2,359 2,355
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Accounts payable, trade 128 125
Short-term borrowings and current portion of long-term debt 1 1
Current portion of operating leases 10 13
Other current liabilities 139 144
Total current liabilities 278 283
Long-term debt, net of current portion 453 457
Pension and other postretirement liabilities 224 237
Operating leases, net of current portion 25 24
Other long-term liabilities 204 213
Total liabilities 1,184 1,214
Commitments and Contingencies (Note 6)
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference 214 210
Equity (Deficit)    
Common stock, $0.01 par value 0 0
Additional paid in capital 1,154 1,156
Treasury stock, at cost (12) (11)
Accumulated deficit (437) (495)
Accumulated other comprehensive income 256 281
Total shareholders’ equity 961 931
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY 2,359 2,355
Redeemable Preferred Stock [Member]    
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference $ 214 $ 210