Other Assets And Liabilities, Current and Noncurrent

12 Months Ended

Dec. 31, 2021

Other Assets [Abstract]

Other Assets And Liabilities Disclosure, Current and Noncurrent

OTHER CURRENT ASSETS AND LIABILITIES, AND OTHER ASSETS

Prepaid expenses and other current assets consisted of the following amounts:

	December 31,
(DOLLARS IN MILLIONS)	2021		2020
Value-added tax receivable	$	178	$	93
Income tax receivable	131		100
Prepaid expenses	288		100
Other	131		49
Total	$	728	$	342

Other assets consisted of the following amounts:

	December 31,
(DOLLARS IN MILLIONS)	2021		2020
Finance lease right-of-use assets	$	21	$	8
Deferred income taxes	82		197
Overfunded pension plans	136		101
Cash surrender value of life insurance contracts	52		49
Equity method investments	86		5
Other(1)	239		58
Total	$	616	$	418

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(1)Includes land usage rights in China and long term deposits.

Other current liabilities consisted of the following amounts:

	December 31,
(DOLLARS IN MILLIONS)	2021		2020
Rebates and incentives payable	$	113	$	64
Value-added tax payable	50		20
Interest payable	48		29
Current pension and other postretirement benefit obligation	11		13
Accrued insurance (including workers’ compensation)	10		11
Earn outs payable	—		14
Restructuring and other charges	29		14
Current operating lease obligation	109		41
Current financing lease obligation	5		3
Accrued income taxes	94		42
Other accounts payable and accrued expenses payable	270		160
Other	93		88
Total	$	832	$	499