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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 255 $ 327
Short-term investments 4 7
Accounts receivable, net 1,013 951
Inventories 862 824
Prepaid expenses 36 29
Total current assets 2,170 2,138
Property, plant and equipment, net of accumulated depreciation of $2,963 and $2,915, respectively 2,208 2,198
Goodwill 815 791
Other intangible assets, net of accumulated amortization of $174 and $167, respectively 453 460
Operating lease assets 146  
Deferred income tax assets 11 10
Other assets 129 131
Total assets 5,932 5,728
Current liabilities:    
Short-term borrowings 153 169
Accounts payable and accrued liabilities 748 777
Less current lease liabilities 42  
Total current liabilities 901 946
Non-current liabilities 203 217
Long-term debt 1,957 1,931
Non-current operating lease liabilities 113  
Deferred income tax liabilities 193 189
Share-based payments subject to redemption 21 37
Ingredion stockholders’ equity:    
Preferred stock — authorized 25,000,000 shares — $0.01 par value, none issued
Common stock — authorized 200,000,000 shares — $0.01 par value, 77,810,875 issued at March 31, 2019 and December 31, 2018, respectively 1 1
Additional paid-in capital 1,137 1,096
Less: Treasury stock (common stock: 11,131,668 and 11,284,681 shares at March 31, 2019 and December 31, 2018, respectively) at cost (1,050) (1,091)
Accumulated other comprehensive loss (1,160) (1,154)
Retained earnings 3,594 3,536
Total Ingredion stockholders’ equity 2,522 2,388
Non-controlling interests 22 20
Total equity 2,544 2,408
Total liabilities and equity $ 5,932 $ 5,728