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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Jun. 30, 2019
Current assets:      
Cash and cash equivalents $ 1,067 $ 551 $ 371
Trade receivables, net of allowance of $30 million, $32 million, and $34 million at June 30, 2020, December 31, 2019 and June 30, 2019 696 621 1,275
Inventories 1,004 1,045 1,015
Prepaid expenses and other current assets 245 271 282
Total current assets 3,012 2,488 2,943
Property, plant and equipment, net 2,976 3,273 3,216
Goodwill 1,806 1,934 2,527
Intangibles, net 314 371 422
Other assets 1,471 1,544 1,615
Total assets 9,579 9,610 10,723
Current liabilities:      
Accounts payable 916 1,276 1,074
Short-term loans and long-term debt due within one year 404 124 96
Current portion of asbestos-related liabilities     135
Other liabilities 566 595 624
Total current liabilities 1,886 1,995 1,929
Long-term debt 6,103 5,435 6,235
Asbestos-related liabilities   486 364
Paddock support agreement liability 471    
Other long-term liabilities 1,077 1,130 1,105
Share owners' equity 42 564 1,090
Total liabilities and share owners' equity $ 9,579 $ 9,610 $ 10,723