Table of Contents HEXION INC. CONSOLIDATED BALANCE SHEETS  Successor Predecessor (In millions, except share data) December 31, 2019 December 31, 2018 Assets Current assets: Cash and cash equivalents (including restricted cash of $4 and $15, respectively) $ 254 $ 128 Accounts receivable (net of allowance for doubtful accounts of $3 and $16, respectively) 365 412 Inventories: Finished and in-process goods 232 240 Raw materials and supplies 100 94 Other current assets 51 57 Total current assets 1,002 931 Investments in unconsolidated entities 17 19 Deferred income taxes (see Note 16) 6 — Other long-term assets 55 34 Property and equipment: Land 116 89 Buildings 172 285 Machinery and equipment 1,368 2,293 1,656 2,667 Less accumulated depreciation (78 ) (1,826 ) 1,578 841 Operating lease assets (see Note 11) 122 — Goodwill (see Note 8) 178 109 Other intangible assets, net (see Note 8) 1,188 27 Total assets $ 4,146 $ 1,961 Liabilities and Equity (Deficit) Current liabilities: Accounts payable $ 341 $ 384 Debt payable within one year (see Note 10) 70 3,716 Interest payable 35 82 Income taxes payable 17 5 Accrued payroll and incentive compensation 48 52 Current portion of operating lease liabilities (see Note 11) 22 — Other current liabilities 105 106 Total current liabilities 638 4,345 Long-term liabilities: Long-term debt (see Note 8) 1,715 99 Long-term pension and postretirement benefit obligations (see Note 13) 252 221 Deferred income taxes (see Note 16) 164 15 Operating lease liabilities (see Note 11) 86 — Other long-term liabilities 216 195 Total liabilities 3,071 4,875 Commitments and contingencies (see Notes 10 and 12) Equity (Deficit) Common stock (Successor)—$0.01 par value; 100 shares authorized, issued and outstanding December 31, 2019 — — Paid-in capital (Successor) 1,165 — Common stock (Predecessor) —$0.01 par value; 300,000,000 shares authorized, 170,605,906 issued and 82,556,847 outstanding at December 31, 2018 — 1 Paid-in capital (Predecessor) — 526 Treasury stock (Predecessor), at cost—88,049,059 shares — (296) Accumulated other comprehensive loss (1 ) (18 ) Accumulated deficit (89) (3,125) Total Hexion Inc. shareholders’ equity (deficit) 1,075 (2,912 ) Noncontrolling interest — (2) Total equity (deficit) 1,075 (2,914 ) Total liabilities and equity (deficit) $ 4,146 $ 1,961 50 See Notes to Consolidated Financial Statements