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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 438 $ 401
Short-term investments 7 8
Accounts receivable, net 1,284 1,279
Inventories 1,344 1,450
Prepaid expenses and assets held for sale 52 261
Total current assets 3,125 3,399
Property, plant and equipment, net of accumulated depreciation of $3,444 and $3,428 2,334 2,370
Intangible assets, net of accumulated amortization of $305 and $299 1,286 1,303
Other non-current assets 574 570
Total assets 7,319 7,642 CloseClose
Current liabilities:    
Short-term borrowings 141 448
Accounts payable 659 778
Accrued liabilities and liabilities held for sale 483 546
Total current liabilities 1,283 1,772
Long-term debt 1,740 1,740
Other non-current liabilities 471 480
Total liabilities 3,494 3,992 CloseClose
Share-based payments subject to redemption 43 55
Redeemable non-controlling interests 42 43 Close
Ingredion stockholders’ equity:    
Preferred stock — authorized 25.0 shares — $0.01 par value, none issued 0 0
Common stock — authorized 200.0 shares — $0.01 par value, 77.8 shares issued at March 31, 2024 and December 31, 2023 1 1
Additional paid-in capital 1,146 1,146
Less: Treasury stock (common stock: 12.2 and 12.6 shares at March 31, 2024 and December 31, 2023) at cost (1,179) (1,207)
Accumulated other comprehensive loss (1,062) (1,056)
Retained earnings 4,818 4,654
Total Ingredion stockholders’ equity 3,724 3,538
Non-redeemable non-controlling interests 16 14
Total stockholders' equity 3,740 3,552 CloseClose
Total liabilities and stockholders' equity $ 7,319 $ 7,642