CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash investments	$ 769	$ 1,326
Receivables	1,352	1,138
Prepaid expenses and other	117	149
Inventories:
Finished goods	610	552
Raw material	311	242
Work in process	100	82
Total inventories	1,021	876
Total current assets	3,259	3,489
Property and equipment, net	896	908
Operating lease right-of-use assets	169	166
Goodwill	592	563
Other intangible assets, net	372	357
Other assets	135	294
Total assets	5,423	5,777
Current Liabilities:
Accounts payable	1,021	893
Notes payable	10	3
Accrued liabilities	747	1,038
Total current liabilities	1,778	1,934
Long-term debt	2,950	2,792
Noncurrent operating lease liabilities	152	149
Other liabilities	458	481
Total liabilities	5,338	5,356
Commitments and contingencies (Note P)
Redeemable Noncontrolling Interest, Equity, Redemption Value	25	0
Masco Corporation's shareholders' equity:
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2021 – 246,500,000; 2020 – 258,200,000	247	258
Preferred shares authorized: 1,000,000; Issued and outstanding: 2021 and 2020 – None	0	0
Paid-in capital	0	0
Retained (deficit) earnings	(640)	79
Accumulated other comprehensive income (loss)	239	(142)
Total Masco Corporation's shareholders' (deficit) equity	(154)	195
Noncontrolling interest	214	226
Total equity	60	421
Total liabilities and equity	$ 5,423	$ 5,777

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).