CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 2,121	$ 832
Receivables, net	1,977	1,921
Inventories, net	815	807
Prepayments and other current assets	252	276
Total current assets	5,165	3,836
Property, plant and equipment, net	2,824	2,925
Investments and other long-term receivables	305	318
Goodwill	1,855	1,842
Other intangible assets, net	371	402
Other non-current assets	372	379
Total assets	10,892	9,702
LIABILITIES AND EQUITY
Notes payable and other short-term debt	49	286
Accounts payable and accrued expenses	2,127	1,977
Income taxes payable	23	66
Total current liabilities	2,199	2,329
Long-term debt	2,787	1,674
Other non-current liabilities:
Retirement-related liabilities	290	306
Other	698	549
Total other non-current liabilities	988	855
Common stock	3	3
Capital in excess of par value	1,128	1,145
Retained earnings	5,979	5,942
Accumulated other comprehensive loss	(730)	(727)
Common stock held in treasury, at cost	(1,623)	(1,657)
Total BorgWarner Inc. stockholders’ equity	4,757	4,706
Noncontrolling interest	161	138
Total equity	4,918	4,844
Total liabilities and equity	$ 10,892	$ 9,702

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

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- Definition

Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.