Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents		$ 594	$ 969
Receivables, net		1,907	1,699
Inventories, net		969	777
Income tax receivable		55	45
Prepaid expenses and accrued income		160	164
Related party receivable		0	1
Other current assets		29	20
Total current assets		3,714	3,675
Property, plant and equipment, net		1,960	1,855
Operating lease right-of-use assets		160	132
Goodwill		1,375	1,387
Intangible assets, net		7	8
Other non-current assets		502	481
Total assets		7,717	7,537
Liabilities and equity
Short-term debt, carrying value	[1]	711	346
Accounts payable		1,693	1,129
Accrued expenses		915	987
Related party liabilities		0	24
Income tax payable		75	81
Operating lease liabilities, current		39	38
Other current liabilities		207	216
Total current liabilities		3,642	2,821
Long-term debt, carrying value	[1]	1,054	1,662
Pension liability		154	197
Operating lease liabilities, non-current		119	94
Other non-current liabilities		121	115
Total non-current liabilities		1,450	2,067
Commitments and contingencies
Common stock	[2]	91	103
Additional paid-in capital		1,113	1,329
Retained earnings		2,310	2,742
Accumulated other comprehensive loss	[3]	(522)	(408)
Treasury stock (5.0 and 15.3 million shares, respectively)		(379)	(1,133)
Total controlling interest’s equity		2,613	2,633
Non-controlling interest		13	15
Total equity		2,626	2,648
Total liabilities and equity		$ 7,717	$ 7,537

[1] Debt as reported in balance sheet.

[2] Number of shares: 350 million authorized for both years, 91.2 and 102.8 million issued, and 86.2 and 87.5 million outstanding, net of treasury shares, for 2022 and 2021, respectively.

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