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Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Variable Interest Entities - Schedule of Financial Information of Variable Interest Entities (Details)

v3.23.1
Note 5 - Variable Interest Entities - Schedule of Financial Information of Variable Interest Entities (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Current assets $ 2,700 Ìý $ 3,145
Property, plant and equipment, net [1] 2,366 Ìý 2,377
Operating lease right-of-use assets 367 Ìý 374
Deferred income taxes 136 Ìý 147
Total assets 7,763 Ìý 8,220
Current liabilities 1,297 Ìý 1,701
Long-term debt [1] 1,509 Ìý 1,671
Noncurrent operating lease liabilities [1] 334 Ìý 336
Other noncurrent liabilities [1] 395 Ìý 422
Total liabilities 3,773 Ìý 4,380
Revenues [2] 1,606 $ 2,192 Ìý
Income from continuing operations before income taxes 55 282 Ìý
Net cash provided by operating activities (154) 85 Ìý
Variable Interest Entity, Primary Beneficiary [Member] Ìý Ìý Ìý
Current assets 77 Ìý 73
Property, plant and equipment, net 147 Ìý 149
Operating lease right-of-use assets 28 Ìý 28
Other noncurrent assets 141 Ìý 140
Deferred income taxes 13 Ìý 13
Total assets 406 Ìý 403
Current liabilities 129 Ìý 144
Long-term debt 24 Ìý 26
Noncurrent operating lease liabilities 18 Ìý 19
Other noncurrent liabilities 24 Ìý 25
Total liabilities 195 Ìý $ 214
Revenues 0 0 Ìý
Income from continuing operations before income taxes 15 5 Ìý
Net cash provided by operating activities $ 25 $ 8 Ìý
[1] At March 31, 2023 and December 31, 2022, respectively, $12 and $5 of cash and cash equivalents, $6 and $4 of accounts and notes receivable (net), $57 and $59 of inventories, $147 and $149 of property, plant and equipment (net), $29 each of other noncurrent assets, $97 and $114 of accounts payable, $13 and $12 of accrued liabilities, $9 each of current portion of debt, $10 and $9 of current operating lease liabilities, $24 and $26 of long-term debt, $18 and $19 of noncurrent operating lease liabilities and $24 and $25 of other noncurrent liabilities from consolidated variable interest entities are included in the respective balance sheet captions above. See “Note 5. Variable Interest Entities.� These assets can only be used to settle obligations of the variable interest entities, and creditors of these liabilities do not have recourse to our general credit.
[2] Geographic information for revenues is based upon countries into which product is sold.