Annual report pursuant to Section 13 and 15(d)

Note 4 - Discontinued Operations and Business Dispositions (Tables)

v3.22.4
Note 4 - Discontinued Operations and Business Dispositions (Tables)
12 Months Ended
Dec. 31, 2022
Notes Tables  
Disposal Groups, Including Discontinued Operations [Table Text Block]
   

December 31,

   

December 31,

 
   

2022

   

2021

 

Carrying amounts of major classes of assets held for sale:

               

Accounts receivable

  $ 133     $ 171  

Inventories

    151       163  

Other current assets

    11       12  

Total current assets

          346  

Property, plant and equipment, net

    134       133  

Deferred income taxes

    13       26  

Operating lease right-of-use assets

    15       22  

Other noncurrent assets

    15       1  

Total noncurrent assets

          182  

Total assets held for sale(1)

  $ 472     $ 528  

Carrying amounts of major classes of liabilities held for sale:

               

Accounts payable

  $ 63     $ 94  

Accrued liabilities

    47       67  

Current operating lease liabilities

    2       2  

Total current liabilities

          163  

Noncurrent operating lease liabilities

    17       24  

Other noncurrent liabilities

    65       127  

Total noncurrent liabilities

          151  

Total liabilities held for sale(1)

  $ 194     $ 314  
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Major line items constituting pretax income of discontinued operations(1):

                       

Trade sales, services and fees, net(2)

  $ 692     $ 783     $ 604  

Cost of goods sold(2)(3)

    531       592       437  

Gain on sale of the Chemical Intermediates Businesses

                978  

Other expense items, net

    130       121       122  

Income from discontinued operations before income taxes

    31       70       1,023  

Income tax expense

    (19 )     (21 )     (246 )

Income from discontinued operations, net of tax

    12       49       777  

Net income attributable to noncontrolling interests

    (3 )            

Net income attributable to discontinued operations

  $ 9     $ 49     $ 777