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Consolidated Statement of Financial Position (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 214 $ 255
Trade receivables, net of allowances of $7 and $8, respectively 143 195
Inventories, net 241 217
Other current assets 44 45
Total current assets 642 712
Property, plant and equipment, net of accumulated depreciation of $481 and $470, respectively 190 169
Goodwill 12 12
Intangible assets, net 21 24
Operating lease right-of-use assets 28 30
Restricted cash 100 110
Pension and other postretirement assets 1,313 1,216
Other long-term assets 82 82
TOTAL ASSETS 2,388 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 9 13
Other current liabilities 128 144
Total current liabilities 266 283
Long-term debt, net of current portion 460 457
Pension and other postretirement liabilities 232 237
Operating leases, net of current portion 24 24
Other long-term liabilities 208 213
Total liabilities 1,190 1,214
Commitments and Contingencies (Note 6)
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference 216 210
EQUITY    
Common stock, $0.01 par value 0 0
Additional paid in capital 1,152 1,156
Treasury stock, at cost (12) (11)
Accumulated deficit (419) (495)
Accumulated other comprehensive income 261 281
Total shareholders’ equity 982 931
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY 2,388 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 $ 216 $ 210