(Dollars in Millions)
(Unaudited)
June 30 | December 31 | ||||||
2019 | 2018 | ||||||
ASSETS | |||||||
Cash and equivalents | $ | 435 | $ | 463 | |||
Restricted cash | 3 | 4 | |||||
Accounts receivable, net | 468 | 486 | |||||
Inventories, net | 187 | 184 | |||||
Other current assets | 190 | 159 | |||||
Total current assets | 1,283 | 1,296 | |||||
Property and equipment, net | 414 | 397 | |||||
Intangible assets, net | 126 | 129 | |||||
Right to use assets, net | 164 | — | |||||
Investments in non-consolidated affiliates | 48 | 42 | |||||
Other non-current assets | 157 | 143 | |||||
Total assets | $ | 2,192 | $ | 2,007 | |||
LIABILITIES AND EQUITY | |||||||
Short-term debt | $ | 54 | $ | 57 | |||
Accounts payable | 447 | 436 | |||||
Accrued employee liabilities | 71 | 67 | |||||
Current lease liabilities | 29 | — | |||||
Other current liabilities | 161 | 161 | |||||
Total current liabilities | 762 | 721 | |||||
Long-term debt | 348 | 348 | |||||
Employee benefits | 252 | 257 | |||||
Non-current lease liabilities | 139 | — | |||||
Deferred tax liabilities | 26 | 23 | |||||
Other non-current liabilities | 72 | 76 | |||||
Stockholders’ equity: | |||||||
Common stock | 1 | 1 | |||||
Additional paid-in capital | 1,338 | 1,335 | |||||
Retained earnings | 1,630 | 1,609 | |||||
Accumulated other comprehensive loss | (215 | ) | (216 | ) | |||
Treasury stock | (2,277 | ) | (2,264 | ) | |||
Total Visteon Corporation stockholders’ equity | 477 | 465 | |||||
Non-controlling interests | 116 | 117 | |||||
Total equity | 593 | 582 | |||||
Total liabilities and equity | $ | 2,192 | $ | 2,007 | |||
VISTEON CORPORATION AND SUBSIDIARIES