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Consolidated Statement of Financial Position (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 309 $ 362
Trade receivables, net of allowances of $7 and $7, respectively 182 175
Inventories, net 247 219
Other current assets 50 49
Current assets held for sale 2 2
Total current assets 790 807
Property, plant and equipment, net of accumulated depreciation of $446 and $441, respectively 147 140
Goodwill 12 12
Intangible assets, net 32 34
Operating lease right-of-use assets 45 47
Restricted cash 58 54
Pension and other postretirement assets 1,049 1,022
Other long-term assets 54 55
TOTAL ASSETS 2,187 2,171
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY    
Accounts payable, trade 182 153
Short-term borrowings and current portion of long-term debt 1 1
Current portion of operating leases 12 13
Other current liabilities 139 142
Total current liabilities 334 309
Long-term debt, net of current portion 256 253
Pension and other postretirement liabilities 375 382
Operating leases, net of current portion 42 45
Other long-term liabilities 200 205
Total liabilities 1,207 1,194
Commitments and Contingencies (Note 6)
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference 198 196
Equity    
Common stock, $0.01 par value
Additional paid in capital 1,165 1,166
Treasury stock, at cost (10) (10)
Accumulated deficit (599) (596)
Accumulated other comprehensive income 226 221
Total shareholders’ equity 782 781
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY $ 2,187 $ 2,171