CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 913	$ 773
Trade receivables, net of allowances of $30 million and $28 million at December 31, 2023 and 2022, respectively	671	760
Inventories	1,071	848
Prepaid expenses and other current assets	229	222
Total current assets	2,884	2,603
Other assets:
Equity investments	743	695
Pension assets	66	60
Other assets	694	666
Intangibles, net	254	262
Goodwill	1,473	1,813
Total other assets	3,230	3,496
Property, plant and equipment:
Land, at cost	234	217
Buildings and equipment, at cost:
Buildings and building equipment	1,194	1,102
Factory machinery and equipment	5,769	5,157
Transportation, office and miscellaneous equipment	74	71
Construction in progress	817	556
Property, plant and equipment, at cost	8,088	7,103
Less accumulated depreciation	4,533	4,141
Net property, plant and equipment	3,555	2,962
Total assets	9,669	9,061
Current liabilities:
Accounts payable	1,437	1,355
Salaries and wages	169	181
U.S. and foreign income taxes	90	77
Other accrued liabilities	402	399
Short-term loans	106	45
Long-term debt due within one year	142	300
Total current liabilities	2,346	2,357
Long-term debt	4,698	4,371
Deferred taxes	86	84
Pension benefits	248	225
Nonpension postretirement benefits	67	63
Other liabilities	480	433
Share owners' equity of the Company:
Common stock, par value $.01 per share, 250,000,000 shares authorized, 185,009,211 and 185,567,871 shares issued (including treasury shares), respectively	2	2
Capital in excess of par value	3,086	3,079
Treasury stock, at cost, 30,754,898 and 30,879,776 shares, respectively	(681)	(688)
Retained earnings	782	885
Accumulated other comprehensive loss	(1,580)	(1,861)
Total share owners' equity of the Company	1,609	1,417
Noncontrolling interests	135	111
Total share owners' equity	1,744	1,528
Total liabilities and share owners' equity	$ 9,669	$ 9,061