CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 425	$ 914
Restricted cash	90	47
Receivables, net of allowance for credit losses of $38	506	455
Inventories	177	161
Prepaid expenses, deposits and other current assets	113	117
Total current assets	1,311	1,694
Non-current assets:
Restricted cash	6	6
Receivables, net of allowance for credit losses of $3 and $2, respectively	37	14
Property and equipment, net	236	204
Operating lease right-of-use assets	52	49
Goodwill	2,945	2,919
Intangible assets, net	605	797
Software, net	158	145
Deferred income taxes	142	114
Other assets	60	67
Total assets	5,552	6,009
Current liabilities:
Current portion of long-term debt	22	24
Accounts payable	241	154
Accrued liabilities	404	380
Income taxes payable	29	64
Total current liabilities	696	622
Deferred income taxes	20	87
Operating lease liabilities	39	37
Other long-term liabilities	180	232
Long-term debt, excluding current portion	3,852	3,870
Total liabilities	4,787	4,848
Commitments and contingencies (Note 20)
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	1,118	1,370
Retained earnings	680	517
Treasury stock, at cost, 26 and 24 shares, respectively	(751)	(580)
Accumulated other comprehensive loss	(283)	(318)
Total L&W stockholders’ equity	765	990
Noncontrolling interest	0	171
Total stockholders’ equity	765	1,161
Total liabilities and stockholders’ equity	$ 5,552	$ 6,009