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Assets held for sale and divestitures | 3 Months Ended
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Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Assets held for sale and divestitures | 3. Assets held for sale and divestitures In November 2023, the Company entered into a sales agreement with SigmaRoc plc. to divest of its Lime operations in Europe for consideration of $1.1 billion. The transaction was structured in three phases. The first phase of the transaction, comprising the Company’s Lime operations in Germany, Czech Republic and Ireland, closed on January 1, 2024 and the second phase comprising the operations in the United Kingdom, closed on March 27, 2024. The divestitures resulted in a pretax gain of $115 million which was included in Other nonoperating income, net. The results of the divested operations and the gain on divestiture were reported in the Europe Materials Solutions segment. The third phase comprising the operations in Poland, is expected to close in the second half of 2024. In December 2023, the Company entered into a sales agreement to dispose of certain of its cement and materials assets in Canada, which closed on April 1, 2024. The Lime operations in Poland and the cement and materials assets in Canada comprise part of the Company’s Europe Materials Solutions and Americas Materials Solutions segments, respectively, and the relevant assets and liabilities have accordingly been reclassified as assets and liabilities held for sale. The major classes of assets and liabilities classified as held for sale were:
| March 31 | December 31 |  |  |
in $ millions | 2024 | 2023 |  |  |
Assets |  |  |  |  |
Cash and cash equivalents | 1 |  | 49 |  |  |  |
Accounts receivable, net | 30 |  | 70 |  |  |  |
Inventories | 59 |  | 102 |  |  |  |
Other assets | 3 |  | 8 |  |  |  |
Property, plant and equipment, net | 139 |  | 832 |  |  |  |
Operating lease right-of-use assets, net | - |  | 6 |  |  |  |
Goodwill | 4 |  | 201 |  |  |  |
Assets held for sale | 236 | 1,268 |  |  |
Liabilities |  |  |  |  |
Accounts payable | 34 |  | 59 |  |  |  |
Accrued expenses | 1 |  | 17 |  |  |  |
Other liabilities | 9 |  | 145 |  |  |  |
Deferred income tax liabilities | - |  | 148 |  |  |  |
Operating lease liabilities | - |  | 6 |  |  |  |
Liabilities held for sale | 44 |  | 375 |  |  |  |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
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