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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 292 $ 228
Restricted cash 4 4
Accounts receivable (net of allowance for credit losses of $4 million and $4 million as of March 31, 2022 and December 31, 2021, respectively) 651 631
Inventories, net 1,050 1,048
Prepaid and other assets 187 132
Income taxes receivable 5 6
Total current assets 2,189 2,049
Noncurrent Assets    
Property, plant and equipment, net 1,770 1,710
Mineral leaseholds, net 763 747
Intangible assets, net 229 217
Lease right of use assets, net 86 85
Deferred tax assets 981 985
Other long-term assets 197 194
Total assets 6,215 5,987
Current Liabilities    
Accounts payable 490 438
Accrued liabilities 377 328
Short-term lease liabilities 22 26
Long-term debt due within one year 16 18
Income taxes payable 18 12
Total current liabilities 923 822
Noncurrent Liabilities    
Long-term debt, net 2,567 2,558
Pension and postretirement healthcare benefits 117 116
Asset retirement obligations 146 139
Environmental liabilities 66 66
Long-term lease liabilities 61 55
Deferred tax liabilities 176 157
Other long-term liabilities 30 32
Total liabilities 4,086 3,945
Commitments and Contingencies - Note 15
Shareholders’ Equity    
Tronox Holdings plc ordinary shares, par value $0.01 — 155,797,426 shares issued and outstanding at March 31, 2022 and 153,934,677 shares issued and outstanding at December 31, 2021 2 2
Capital in excess of par value 2,049 2,067
Retained earnings 659 663
Accumulated other comprehensive loss (637) (738)
Total Tronox Holdings plc shareholders’ equity 2,073 1,994
Noncontrolling interest 56 48
Total equity 2,129 2,042
Total liabilities and equity $ 6,215 $ 5,987