Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents		$ 330	$ 498
Receivables, net		1,993	2,198
Inventories, net		921	1,012
Income tax receivable		38	60
Prepaid expenses and accrued income		167	173
Other current assets		34	33
Total current assets		3,483	3,974
Property, plant and equipment, net		2,239	2,192
Operating lease right-of-use assets		158	176
Goodwill and intangible assets, net		1,375	1,385
Other non-current assets		548	606
Total non-current assets		4,320	4,358
Total assets		7,804	8,332
Liabilities and equity
Short-term debt	[1]	387	538
Accounts payable		1,799	1,978
Accrued expenses		1,056	1,135
Income tax payable		120	122
Operating lease liabilities, current		41	39
Other current liabilities		231	223
Total current liabilities		3,633	4,035
Long-term debt	[1]	1,522	1,324
Pension liability		153	159
Operating lease liabilities, non-current		118	135
Other non-current liabilities		92	109
Total non-current liabilities		1,885	1,728
Commitments and contingencies
Common stock	[2]	80	88
Additional paid-in capital		910	1,044
Retained earnings		2,105	2,289
Accumulated other comprehensive loss	[3]	(659)	(496)
Treasury stock (2.7 and 4.9 million shares, respectively)		(160)	(368)
Total controlling interest’s equity		2,276	2,557
Non-controlling interest		10	13
Total equity		2,285	2,570
Total liabilities and equity		$ 7,804	$ 8,332

[1] Debt as reported in balance sheet.

[2] Number of shares: 350 million authorized for both years, 80.4 and 87.5 million issued, and 77.7 and 82.6 million outstanding, net of treasury shares, for 2024 and 2023, respectively.

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