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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 496 $ 585
Restricted cash 48 41
Receivables, net of allowance for credit losses $48 and $52, respectively 431 423
Inventories 113 98
Prepaid expenses, deposits and other current assets 110 88
Assets of businesses held for sale 558 497
Total current assets 1,756 1,732
Non-current assets:    
Restricted cash 9 9
Receivables, net of allowance for credit losses $2 and $2, respectively 17 17
Property and equipment, net 197 213
Operating lease right-of-use assets 50 51
Goodwill 2,978 2,892
Intangible assets, net 893 946
Software, net 105 117
Deferred Tax Assets, Deferred Income 344 349
Other assets 86 80
Assets of businesses held for sale 1,517 1,477
Total assets 7,952 7,883
Current liabilities:    
Current portion of long-term debt 44 44
Accounts payable 198 204
Accrued liabilities 385 444
Liabilities of businesses held for sale 300 282
Total current liabilities 927 974
Deferred income taxes 42 35
Operating lease liabilities 40 40
Other long-term liabilities 155 170
Long-term debt, excluding current portion 8,789 8,646
Liabilities of businesses held for sale 136 124
Total liabilities 10,089 9,989
Commitments and contingencies (Note 16)
Stockholders’ deficit:    
Common Stock, Value, Outstanding 1 1
Additional Paid in Capital, Common Stock 1,366 1,337
Retained Earnings (Accumulated Deficit) (3,132) (3,158)
Treasury Stock, Value (226) (175)
Accumulated Other Comprehensive Income (Loss), Net of Tax (298) (261)
Total L&W stockholders’ deficit (2,289) (2,256)
Noncontrolling interest 152 150
Total stockholders’ deficit (2,137) (2,106)
Total liabilities and stockholders’ deficit $ 7,952 $ 7,883