For the year ended December 31, | 2013 | 2012 | 2011 | ||||||
Net sales | $ | 331 | $ | 4,218 | $ | 4,280 | |||
Income before income taxes | $ | 2,717 | $ | 551 | $ | 518 | |||
Provision for income taxes1 | 718 | 243 | 151 | ||||||
Income from discontinued operations after income taxes | $ | 1,999 | $ | 308 | $ | 367 | |||
1. | Full year 2012 includes expense of $70 to accrue taxes associated with earnings of certain Performance Coatings subsidiaries that were previously considered permanently reinvested as these entities have been reclassified as held for sale. |
December 31, 2012 | |||
Cash and cash equivalents | $ | 95 | |
Accounts and notes receivable, net | 783 | ||
Inventories | 488 | ||
Prepaid expenses | 6 | ||
Deferred income taxes - current | 32 | ||
Property, plant and equipment, net of accumulated depreciation | 749 | ||
Goodwill | 808 | ||
Other intangible assets | 67 | ||
Deferred income taxes - noncurrent | 14 | ||
Other assets - noncurrent | 34 | ||
Total assets held for sale | $ | 3,076 | |
Accounts payable | $ | 408 | |
Income taxes | 17 | ||
Other accrued liabilities | 237 | ||
Other liabilities - noncurrent | 388 | ||
Deferred income taxes - noncurrent | 34 | ||
Total liabilities related to assets held for sale | $ | 1,084 | |