Table of Contents In addition to the Held for Sale Business assets and liabilities classified as “held for sale” in the table above, the Company’s Consolidated Balance Sheets as of December 31, 2020 also includes $1 of current assets held for sale, noncurrent assets held for sale of $5, current liabilities associated with assets held for sale of $3 and noncurrent liabilities associated with assets held for sale of $3. These additional assets and liabilities classified as “held for sale” at December 31, 2020 are related to the Company’s other restructuring activities. The following table shows the financial results of discontinued operations for the periods presented: (1) The Held for Sale Business has included $4, $5, $2 and $9 in both “Net sales” and “Cost of sales” within the discontinued operations for the year ended December 31, 2020, the Successor period July 2, 2019 through December 31, 2019 and the Predecessor periods January 1, 2019 through July 1, 2019 and year ended December 31, 2018, respectively, which represents sales from the Held for Sale Business to the Company’s continuing operations that were previously eliminated in consolidation. These reclassifications had no impact on “Net (loss) income” in the Consolidated Statements of Operations for any of the periods presented. The Company's 50% ownership interest in the Russia JV, accounted for using the equity method of accounting, is included in the Held for Sale Business. Summarized financial data for the Russia JV are shown in the following tables: Hexion Inc. |  76  | 2020 Form 10-K Equity Method Investments December 31, 2020 December 31, 2019 Current assets $ 7  $ 9  Non-current assets 1  1  Current liabilities 2  11  Non-current liabilities 6  12  Successor Predecessor Year Ended December 31, 2020 July 2, 2019 through December 31, 2019 January 1, 2019 through  July 1, 2019 Year Ended December 31, 2018 Major line items constituting pretax income of discontinued operations: Net sales $ 493  $ 286  $ 309  $ 692  Cost of sales (exclusive of depreciation and amortization) 412  245  263  600  Selling, general and administrative expense 42  15  17  34  Depreciation and amortization 26  17  9  19  Asset impairments 75  —  —  —  Business realignment costs 3  2  1  2  Other operating expense (income), net —  1  (1) (1) Operating (loss) income (65) 6  20  38  Reorganization items, net —  —  (135) —  Other non-operating expense, net 5  1  —  —  (Loss) income from discontinued operations before income tax, earnings from unconsolidated entities (70) 5  155  38  Income tax expense (benefit) 1  1  21  9  (Loss) income from discontinued operations, net of tax $ (71) $ 4  $ 134  $ 29  Earnings from unconsolidated entities, net of tax 2  —  1  (1) Net (loss) income attributable to discontinued operations $ (69) $ 4  $ 135  $ 28   (1) (1) Carrying amounts of major classes of liabilities held for sale: Accounts payable $ 52  $ 52  Income taxes payable 1  —  Accrued payroll 3  5  Current portion of operating lease liabilities 2  2  Other current liabilities 9  10  Total current liabilities 67  69  Long-term pension and post employment benefit obligations 36  29  Deferred income taxes 22  15  Operating lease liabilities 5  4  Other long-term liabilities 8  8  Total long-term liabilities 71  56  Total liabilities held for sale $ 138  $ 125 