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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Current assets:      
Cash and cash equivalents $ 891 $ 551 $ 326
Trade receivables, net of allowances of $30 million, $32 million, and $34 million at March 31, 2020, December 31, 2019, and March 31, 2019 767 621 939
Inventories 1,047 1,045 1,038
Prepaid expenses and other current assets 257 271 276
Total current assets 2,962 2,488 2,579
Property, plant and equipment, net 2,987 3,273 3,074
Goodwill 1,773 1,934 2,507
Intangibles, net 312 371 394
Other assets 1,470 1,544 1,598
Total assets 9,504 9,610 10,152
Current liabilities:      
Accounts payable 1,025 1,276 1,065
Short-term loans and long-term debt due within one year 283 124 91
Current portion of asbestos-related liabilities     160
Other liabilities 516 595 544
Total current liabilities 1,824 1,995 1,860
Long-term debt 6,115 5,435 5,820
Asbestos-related liabilities   486 372
Paddock support agreement liability 471    
Other long-term liabilities 1,018 1,130 1,090
Share owners' equity 76 564 1,010
Total liabilities and share owners' equity $ 9,504 $ 9,610 $ 10,152