Consolidated Balance Sheet (unaudited) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 537	$ 720
Receivables from customers, less allowances of $— in 2022 and 2021	501	367
Other receivables	49	53
Inventories	1,563	1,402
Prepaid expenses and other current assets	187	195
Total current assets	2,837	2,737
Properties, plants, and equipment, net	2,340	2,467
Goodwill	4,012	4,067
Deferred income taxes	118	184
Intangibles, net	534	549
Other noncurrent assets	211	215
Total assets	10,052	10,219
Current liabilities:
Accounts payable, trade	814	732
Accrued compensation and retirement costs	198	198
Taxes, including income taxes	58	61
Accrued interest payable	75	74
Other current liabilities	176	183
Short-term debt	1	5
Total current liabilities	1,322	1,253
Long-term debt, less amount due within one year	4,169	4,227
Accrued pension benefits	710	771
Accrued other postretirement benefits	150	153
Other noncurrent liabilities and deferred credits	280	307
Total liabilities	6,631	6,711
Contingencies and commitments
Howmet Aerospace shareholders’ equity:
Preferred stock	55	55
Common stock	416	422
Additional capital	4,079	4,291
Retained earnings	863	603
Accumulated other comprehensive loss	(1,992)	(1,863)
Total equity	3,421	3,508
Total liabilities and equity	$ 10,052	$ 10,219