Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents		$ 498	$ 594
Receivables, net		2,198	1,907
Inventories, net		1,012	969
Income tax receivable		60	55
Prepaid expenses and accrued income		173	160
Other current assets		33	29
Total current assets		3,974	3,714
Property, plant and equipment, net		2,192	1,960
Operating lease right-of-use assets		176	160
Goodwill and intangible assets, net		1,385	1,382
Other non-current assets		606	502
Total non-current assets		4,358	4,003
Total assets		8,332	7,717
Liabilities and equity
Short-term debt	[1]	538	711
Accounts payable		1,978	1,693
Accrued expenses		1,135	915
Income tax payable		122	75
Operating lease liabilities, current		39	39
Other current liabilities		223	207
Total current liabilities		4,035	3,642
Long-term debt	[1]	1,324	1,054
Pension liability		159	154
Operating lease liabilities, non-current		135	119
Other non-current liabilities		109	121
Total non-current liabilities		1,728	1,450
Commitments and contingencies
Common stock	[2]	88	91
Additional paid-in capital		1,044	1,113
Retained earnings		2,289	2,310
Accumulated other comprehensive loss	[3]	(496)	(522)
Treasury stock (4.9 and 5.0 million shares, respectively)		(368)	(379)
Total controlling interest’s equity		2,557	2,613
Non-controlling interest		13	13
Total equity		2,570	2,626
Total liabilities and equity		$ 8,332	$ 7,717

[1] Debt as reported in balance sheet.

[2] Number of shares: 350 million authorized for both years, 87.5 and 91.2 million issued, and 82.6 and 86.2 million outstanding, net of treasury shares, for 2023 and 2022, respectively.

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