CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 909	$ 914
Restricted cash	48	47
Receivables, net of allowance for credit losses of $40 and $38, respectively	499	455
Inventories	183	161
Prepaid expenses, deposits and other current assets	96	117
Total current assets	1,735	1,694
Non-current assets:
Restricted cash	7	6
Receivables, net of allowance for credit losses of $2	12	14
Property and equipment, net	214	204
Operating lease right-of-use assets	43	49
Goodwill	2,930	2,919
Intangible assets, net	682	797
Software, net	153	145
Deferred income taxes	112	114
Other assets	74	67
Total assets	5,962	6,009
Current liabilities:
Current portion of long-term debt	23	24
Accounts payable	171	154
Accrued liabilities	371	380
Income taxes payable	12	64
Total current liabilities	577	622
Deferred income taxes	51	87
Operating lease liabilities	31	37
Other long-term liabilities	210	232
Long-term debt, excluding current portion	3,863	3,870
Total liabilities	4,732	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	1,387	1,370
Retained earnings	538	517
Treasury stock, at cost, 25 and 24 shares, respectively	(613)	(580)
Accumulated other comprehensive loss	(265)	(318)
Total L&W stockholders’ equity	1,048	990
Noncontrolling interest	182	171
Total stockholders’ equity	1,230	1,161
Total liabilities and stockholders’ equity	$ 5,962	$ 6,009