CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents		$ 408	$ 498
Receivables, net		2,090	2,198
Inventories, net		936	1,012
Prepaid expenses and accrued income		193	173
Other current assets		76	93
Total current assets		3,703	3,974
Property, plant and equipment, net		2,197	2,192
Operating lease right-of-use assets		167	176
Goodwill and intangible assets, net		1,379	1,385
Other non-current assets		564	606
Total assets		8,010	8,332
Liabilities and equity
Short-term debt	[1]	455	538
Accounts payable	[2]	1,858	1,978
Accrued expenses		1,120	1,135
Operating lease liabilities - current		41	39
Other current liabilities		312	345
Total current liabilities		3,785	4,035
Long-term debt	[1]	1,540	1,324
Pension liability		140	159
Operating lease liabilities - non-current		127	135
Other non-current liabilities		106	109
Total non-current liabilities		1,913	1,728
Common stock		85	88
Additional paid-in capital		993	1,044
Retained earnings		2,174	2,289
Accumulated other comprehensive loss	[3]	(593)	(496)
Treasury stock		(360)	(368)
Total controlling interest's equity		2,298	2,557
Non-controlling interest		13	13
Total equity		2,311	2,570
Total liabilities and equity		$ 8,010	$ 8,332

[1] Debt as reported in balance sheet.

[2] Amount of obligations confirmed under the Company's Supplier Finance Program that remains unpaid is reported as Accounts Payable in the Condensed Consolidated Balance Sheets. Amount of obligations outstanding as of June 30, 2024 and December 31, 2023 are $335 million and $333 million, respectively.

[3] Including cumulative translation adjustment as of June 30, 2024 and December 31, 2023 to the amount of $(554) million and $(449) million, respectively.