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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions
Jun. 30, 2011
Dec. 31, 2010
Jun. 30, 2010
Current assets:      
Cash and cash equivalents $ 260 $ 640 $ 648
Short-term investments, at cost which approximates market     1
Receivables, less allowances for losses and discounts ($41 at June 30, 2011, $40 at December 31, 2010, and $32 at June 30, 2010) 1,322 1,075 1,076
Inventories 1,065 946 856
Prepaid expenses 104 77 69
Assets of discontinued operations     78
Total current assets 2,751 2,738 2,728
Investments and other assets:      
Equity investments 330 299 106
Repair parts inventories 156 147 133
Prepaid pension 63 54 41
Other assets 711 588 494
Goodwill 2,957 2,821 2,222
Assets of discontinued operations     36
Total other assets 4,217 3,909 3,032
Property, plant, and equipment, at cost 7,416 7,016 6,231
Less accumulated depreciation 4,240 3,909 3,633
Net property, plant, and equipment 3,176 3,107 2,598
Total assets 10,144 9,754 8,358
Current liabilities:      
Short-term loans and long-term debt due within one year 371 354 272
Current portion of asbestos-related liabilities 170 170 175
Accounts payable 985 878 791
Other liabilities 666 677 656
Liabilities of discontinued operations     25
Total current liabilities 2,192 2,079 1,919
Long-term debt 3,969 3,924 3,228
Deferred taxes 234 203 160
Pension benefits 564 576 534
Nonpension postretirement benefits 259 259 264
Other liabilities 398 381 262
Asbestos-related liabilities 238 306 233
Liabilities of discontinued operations     15
Commitments and contingencies      
Share owners' equity of the Company:      
Common stock, par value $.01 per share, 250,000,000 shares authorized, 181,192,253, 180,808,992, and 180,746,135 shares issued (including treasury shares), respectively 2 2 2
Capital in excess of par value 2,986 3,040 3,047
Treasury stock, at cost, 16,991,597, 17,093,509, and 17,195,395 shares, respectively (410) (412) (414)
Retained earnings 227 82 355
Accumulated other comprehensive loss (672) (897) (1,452)
Total share owners' equity of the Company 2,133 1,815 1,538
Noncontrolling interests 157 211 205
Total share owners' equity 2,290 2,026 1,743
Total liabilities and share owners' equity $ 10,144 $ 9,754 $ 8,358