CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 931	$ 914
Restricted cash	93	47
Receivables, net of allowance for credit losses of $38	458	455
Inventories	172	161
Prepaid expenses, deposits and other current assets	108	117
Total current assets	1,762	1,694
Non-current assets:
Restricted cash	6	6
Receivables, net of allowance for credit losses of $2	14	14
Property and equipment, net	214	204
Operating lease right-of-use assets	47	49
Goodwill	2,922	2,919
Intangible assets, net	743	797
Software, net	141	145
Deferred income taxes	112	114
Other assets	61	67
Total assets	6,022	6,009
Current liabilities:
Current portion of long-term debt	23	24
Accounts payable	189	154
Accrued liabilities	362	380
Income taxes payable	68	64
Total current liabilities	642	622
Deferred income taxes	71	87
Operating lease liabilities	35	37
Other long-term liabilities	223	232
Long-term debt, excluding current portion	3,867	3,870
Total liabilities	4,838	4,848
Commitments and contingencies (Note 16)
Stockholders’ equity:
Common stock, par value $0.001 per share, 199 shares authorized; 116 and 115 shares issued, respectively, and 91 shares outstanding	1	1
Additional paid-in capital	1,388	1,370
Retained earnings	539	517
Treasury stock, at cost, 25 and 24 shares, respectively	(608)	(580)
Accumulated other comprehensive loss	(312)	(318)
Total L&W stockholders’ equity	1,008	990
Noncontrolling interest	176	171
Total stockholders’ equity	1,184	1,161
Total liabilities and stockholders’ equity	$ 6,022	$ 6,009