v3.24.1.u1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 624 $ 700
Restricted cash 3 3
Accounts and notes receivable, net 1,242 1,260
Inventories 751 741
Prepaid expenses and other current assets 140 117
Total current assets 2,760 2,821
Property, plant and equipment, net 1,174 1,204
Goodwill 1,554 1,591
Identifiable intangibles, net 1,087 1,130
Other assets 514 526
Total assets 7,089 7,272
Current liabilities:    
Accounts payable 721 725
Current portion of borrowings 20 26
Other accrued liabilities 591 677
Total current liabilities 1,332 1,428
Long-term borrowings 3,407 3,478
Accrued pensions 241 252
Deferred income taxes 155 162
Other liabilities 179 179
Total liabilities 5,314 5,499
Commitments and contingent liabilities (Note 5)
Shareholders’ equity:    
Common shares, $1.00 par, 1,000.0 shares authorized, 254.2 and $253.7 shares issued at March 31, 2024 and December 31, 2023, respectively 254 254
Capital in excess of par 1,575 1,568
Retained earnings 1,327 1,286
Treasury shares, at cost, 33.6 shares at March 31, 2024 and December 31, 2023 (937) (937)
Accumulated other comprehensive loss (488) (444)
Total Axalta shareholders’ equity 1,731 1,727
Noncontrolling interests 44 46
Total shareholders’ equity 1,775 1,773
Total liabilities and shareholders’ equity $ 7,089 $ 7,272

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