CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 891	$ 914
Restricted cash	50	47
Receivables, net of allowance for credit losses of $40 and $38, respectively	477	455
Inventories	183	161
Prepaid expenses, deposits and other current assets	119	117
Total current assets	1,720	1,694
Non-current assets:
Restricted cash	6	6
Receivables, net of allowance for credit losses of $1 and $2, respectively	11	14
Property and equipment, net	229	204
Operating lease right-of-use assets	43	49
Goodwill	2,903	2,919
Intangible assets, net	638	797
Software, net	151	145
Deferred income taxes	112	114
Other assets	74	67
Total assets	5,887	6,009
Current liabilities:
Current portion of long-term debt	22	24
Accounts payable	162	154
Accrued liabilities	403	380
Income taxes payable	32	64
Total current liabilities	619	622
Deferred income taxes	43	87
Operating lease liabilities	30	37
Other long-term liabilities	194	232
Long-term debt, excluding current portion	3,855	3,870
Total liabilities	4,741	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 90 and 91 shares outstanding, respectively	1	1
Additional paid-in capital	1,402	1,370
Retained earnings	613	517
Treasury stock, at cost, 26 and 24 shares, respectively	(726)	(580)
Accumulated other comprehensive loss	(331)	(318)
Total L&W stockholders’ equity	959	990
Noncontrolling interest	187	171
Total stockholders’ equity	1,146	1,161
Total liabilities and stockholders’ equity	$ 5,887	$ 6,009