Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 328	$ 665
Short-term investments	4
Accounts receivable, net	1,130	1,011
Inventories	1,172	917
Prepaid expenses	63	54
Total current assets	2,697	2,647
Property, plant and equipment, net of accumulated depreciation of $3,232 and $3,175, respectively	2,423	2,455
Intangible assets	1,348	1,346
Other assets	531	410
Total assets	6,999	6,858
Current liabilities:
Short-term borrowings	308	438
Accounts payable	774	599
Accrued liabilities	430	421
Total current liabilities	1,512	1,458
Long-term debt	1,738	1,748
Other non-current liabilities	524	580
Total liabilities	3,774	3,786
Share-based payments subject to redemption	36	30
Redeemable non-controlling interests	71	70
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 December 31, 2021 and December 31, 2020	1	1
Additional paid-in capital	1,158	1,150
Less: Treasury stock (common stock: 11,154,203 and 10,795,346 shares at December 31, 2021 and December 31, 2020, respectively) at cost	(1,061)	(1,024)
Accumulated other comprehensive loss	(897)	(1,133)
Retained earnings	3,899	3,957
Total Ingredion stockholders' equity	3,100	2,951
Non-redeemable non-controlling interests	18	21
Total equity	3,118	2,972
Total liabilities and equity	$ 6,999	$ 6,858

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).