Table of Contents Arconic and subsidiaries Consolidated Balance Sheet (in millions) December 31, 2018 2017 Assets Current assets: Cash and cash equivalents 2,277 $ 2,150 Receivables from customers, less allowances of $4 in 2018 and $8 in 2017 ( L ) 1,047 1,035 Other receivables ( L ) 451 339 Inventories ( M ) 2,492 2,480 Prepaid expenses and other current assets 314 374 Total current assets 6,581 6,378 Properties, plants, and equipment, net ( N ) 5,704 5,594 Goodwill ( A  and  O ) 4,500 4,535 Deferred income taxes ( H ) 573 743 Intangibles, net ( O ) 919 987 Other noncurrent assets 416 481 Total assets $ 18,693 $ 18,718 Liabilities Current liabilities: Accounts payable, trade 2,129 $ 1,839 Accrued compensation and retirement costs 370 399 Taxes, including income taxes 118 75 Accrued interest payable 113 124 Other current liabilities 356 349 Short-term debt ( P  and  R ) 434 38 Total current liabilities 3,520 2,824 Long-term debt, less amount due within one year ( P and  R ) 5,896 6,806 Accrued pension benefits ( G ) 2,230 2,564 Accrued other postretirement benefits ( G ) 723 841 Other noncurrent liabilities and deferred credits ( Q ) 739 759 Total liabilities 13,108 13,794 Contingencies and commitments ( U ) Equity Arconic shareholders’ equity: Preferred stock ( I ) 55 55 Common stock ( I ) 483 481 Additional capital 8,319 8,266 Accumulated deficit ( A ) (358 ) (1,248 ) Accumulated other comprehensive loss ( A  and  K ) (2,926) (2,644) Total Arconic shareholders’ equity 5,573 4,910 Noncontrolling interests 12 14 Total equity 5,585 4,924 Total liabilities and equity $ 18,693 $ 18,718 The accompanying notes are an integral part of the consolidated financial statements. 56