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Consolidated Balance Sheet - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Current Assets    
Cash and temporary investments $ 511 $ 1,295
Accounts and notes receivable, net 3,453 3,232
Contract assets 514 378
Inventories 1,976 1,814
Current investments 0 245
Other current assets 168 132
Total Current Assets 6,622 7,096
Plants, Properties and Equipment, net 10,219 10,441
Long-Term Investments 926 751
Long-Term Financial Assets of Variable Interest Entities (Note 16) 2,289 2,275
Goodwill 3,116 3,130
Overfunded Pension Plan Assets 772 595
Right of Use Assets 387 365
Deferred Charges and Other Assets 534 590
Total Assets 24,865 25,243
Current Liabilities    
Notes payable and current maturities of long-term debt 616 196
Accounts payable 2,668 2,606
Accrued payroll and benefits 378 440
Other current liabilities 1,143 902
Total Current Liabilities 4,805 4,144
Long-Term Debt 4,766 5,383
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 16) 2,105 2,099
Deferred Income Taxes 1,806 2,618
Underfunded Pension Benefit Obligation 359 377
Postretirement and Postemployment Benefit Obligation 189 205
Long-Term Lease Obligations 251 236
Other Liabilities 1,096 1,099
Equity    
Common stock, $1 par value, 2022 – 448.9 shares and 2021 – 448.9 shares 449 449
Paid-in capital 4,702 4,668
Retained earnings 10,340 9,029
Accumulated other comprehensive loss (1,586) (1,666)
Shareholders' Equity before Treasury Stock, Total 13,905 12,480
Less: Common stock held in treasury, at cost, 2022 – 93.3 shares and 2021 – 70.4 shares 4,417 3,398
Total Equity 9,488 9,082
Total Liabilities and Equity $ 24,865 $ 25,243