Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 246	$ 197
Accounts receivable, net of allowances for doubtful accounts of $4 and $3	527	474
Related party receivables	50	48
Inventories	1,103	854
Other current assets	137	127
Assets held for sale	131	162
Total current assets	2,194	1,862
Property, plant and equipment, net	1,759	1,786
Operating lease right-of-use assets, net	271	278
Goodwill	1,814	1,812
Intangible assets, net	1,096	1,127
Deferred income taxes	7	7
Other noncurrent assets	144	149
Total assets	7,285	7,021
Liabilities
Accounts payable	493	364
Related party payables	9	10
Current portion of long-term debt	30	30
Current portion of operating lease liabilities	63	61
Income taxes payable	6	8
Accrued and other current liabilities	372	315
Liabilities held for sale	24	31
Total current liabilities	997	819
Long-term debt	4,207	4,220
Long-term operating lease liabilities	219	229
Deferred income taxes	257	246
Long-term employee benefit obligations	196	79
Other noncurrent liabilities	140	140
Total liabilities	6,016	5,733
Commitments and contingencies (Note 12)
Equity
Common stock, $0.001 par value; 2,000,000,000 shares authorized; 177,733,992 and 177,250,974 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	0	0
Preferred stock, $0.001 par value; 200,000,000 shares authorized; no shares issued or outstanding	0	0
Additional paid in capital	634	625
Accumulated other comprehensive loss	(208)	(99)
Retained earnings	838	758
Total equity attributable to Pactiv Evergreen Inc. common shareholders	1,264	1,284
Non-controlling interests	5	4
Total equity	1,269	1,288
Total liabilities and equity	$ 7,285	$ 7,021