PPG Annual Report and 10K 2019

38 2019 PPG ANNUAL REPORT AND 10-K Consolidated Balance Sheet December 31 ($ in millions) 2019 2018 Assets Current assets Cash and cash equivalents $1,216 $902 Short-term investments 57 61 Receivables 2,756 2,845 Inventories 1,710 1,783 Other current assets 431 370 Total current assets $6,170 $5,961 Property, plant and equipment, net 2,983 2,805 Goodwill 4,470 4,070 Identifiable intangible assets, net 2,131 1,972 Deferred income taxes 220 229 Investments 258 251 Operating lease right-of-use assets 782 — Other assets 694 727 Total $17,708 $16,015 Liabilities and Shareholders’ Equity Current liabilities Accounts payable and accrued liabilities $3,496 $3,623 Restructuring reserves 196 99 Short-term debt and current portion of long-term debt 513 651 Current portion of operating lease liabilities 170 — Total current liabilities $4,375 $4,373 Long-term debt 4,539 4,365 Operating lease liabilities 622 — Accrued pensions 745 645 Other postretirement benefits 661 629 Deferred income taxes 452 429 Other liabilities 911 842 Total liabilities $12,305 $11,283 Commitments and contingent liabilities (See Note 14) Shareholders’ equity Common stock $969 $969 Additional paid-in capital 950 788 Retained earnings 18,906 18,131 Treasury stock, at cost (13,191) (12,958) Accumulated other comprehensive loss (2,350) (2,300) Total PPG shareholders’ equity $5,284 $4,630 Noncontrolling interests 119 102 Total shareholders’ equity $5,403 $4,732 Total $17,708 $16,015 The accompanying notes to the consolidated financial statements are an integral part of this consolidated statement.

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