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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and temporary investments $ 804 $ 1,295
Accounts and notes receivable (less allowances of $31 in 2022 and $34 in 2021) 3,284 3,232
Contract assets 481 378
Inventories 1,942 1,814
Current investments 0 245
Assets held for sale 133 0
Other current assets 126 132
Total Current Assets 6,770 7,096
Plants, Properties and Equipment, net 10,431 10,441
Long-Term Investments 186 194
Long-Term Financial Assets of Variable Interest Entities (Note 15) 2,294 2,275
Goodwill 3,041 3,130
Overfunded Pension Plan Assets 297 595
Right of Use Assets 424 365
Long-Term Assets Held for Sale 0 557
Deferred Charges and Other Assets 497 590
TOTAL ASSETS 23,940 25,243
Current Liabilities    
Notes payable and current maturities of long-term debt 763 196
Accounts payable 2,708 2,606
Accrued payroll and benefits 355 440
Other current liabilities 1,174 902
Total Current Liabilities 5,000 4,144
Long-Term Debt 4,816 5,383
Long-Term Nonrecourse Financial Liabilities of Variable Interest Entities (Note 15) 2,106 2,099
Deferred Income Taxes 1,732 2,618
Underfunded Pension Benefit Obligation 281 377
Postretirement and Postemployment Benefit Obligation 150 205
Long-Term Lease Obligations 283 236
Other Liabilities 1,075 1,099
Commitments and Contingent Liabilities (Note 14)
Equity    
Common stock $1 par value, 2022 - 448.9 shares and 2021 - 448.9 shares 449 449
Paid-in capital 4,725 4,668
Retained earnings 9,855 9,029
Accumulated other comprehensive loss (1,925) (1,666)
Total Shareholders' Equity Before Treasury Stock 13,104 12,480
Less: Common stock held in treasury, at cost, 2022 – 98.6 shares and 2021 – 70.4 shares 4,607 3,398
Total Equity 8,497 9,082
TOTAL LIABILITIES AND EQUITY $ 23,940 $ 25,243