Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents		$ 969.0	$ 1,178.0
Receivables, net		1,699.0	1,820.0
Inventories, net		777.0	798.0
Income tax receivable		45.0	44.0
Prepaid expenses and accrued income		164.0	164.0
Related party receivable		1.0	2.0
Other current assets		20.0	263.0
Total current assets		3,675.0	4,269.0
Property, plant and equipment, net		1,855.0	1,869.0
Operating lease right-of-use assets		132.0	141.0
Goodwill		1,387.0	1,398.0
Intangible assets, net		8.0	14.0
Other non-current assets		481.0	466.0
Total assets		7,537.0	8,157.0
Liabilities and equity
Short-term debt	[1]	346.0	302.0
Accounts payable		1,129.0	1,227.0
Accrued expenses		987.0	1,260.0
Related party liabilities		24.0	38.0
Income tax payable		81.0	97.0
Operating lease liabilities, current		38.0	37.0
Other current liabilities		216.0	187.0
Total current liabilities		2,821.0	3,147.0
Long-term debt	[1]	1,662.0	2,110.0
Pension liability		197.0	248.0
Operating lease liabilities, non-current		94.0	103.0
Other non-current liabilities		115.0	126.0
Total non-current liabilities		2,067.0	2,587.0
Commitments and contingencies
Common stock	[2]	103.0	103.0
Additional paid-in capital		1,329.0	1,329.0
Retained earnings		2,742.0	2,471.0
Accumulated other comprehensive loss	[3]	(408.0)	(347.0)
Treasury stock (15.3 and 15.4 shares, respectively)		(1,133.0)	(1,147.0)
Total controlling interest’s equity		2,633.0	2,409.0
Non-controlling interest		15.0	14.0
Total equity	[4]	2,648.0	2,423.0
Total liabilities and equity		$ 7,537.0	$ 8,157.0

[1] Debt as reported in balance sheet.

[2] Number of shares: 350 million authorized, 102.8 million issued for both years, and 87.5 and 87.4 million outstanding, net of treasury shares, for 2021 and 2020, respectively.

[3] The components of Other Comprehensive Loss are net of any related income tax effects.

[4] See Note 14 for further details – includes tax effects where applicable.