Other Assets and Liabilities, Current and Noncurrent (Tables)

3 Months Ended

Mar. 31, 2022

Other Assets [Abstract]

Schedule of Other Assets

Other assets consisted of the following amounts:

(DOLLARS IN MILLIONS)	March 31, 2022		December 31, 2021
Finance lease right-of-use assets	$	20	$	21
Deferred income taxes	111		82
Overfunded pension plans	134		136
Cash surrender value of life insurance contracts	49		52
Equity method investments	85		86
Other(1)	255		239
Total	$	654	$	616

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

Schedule of Other Current Assets

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

(DOLLARS IN MILLIONS)	March 31, 2022		December 31, 2021
Value-added tax receivable	$	196	$	178
Income tax receivable	107		131
Prepaid expenses	328		288
Other	119		131
Total	$	750	$	728

Other Current Liabilities

Other current liabilities consisted of the following amounts:

(DOLLARS IN MILLIONS)	March 31, 2022		December 31, 2021
Rebates and incentives payable	$	110	$	113
Value-added tax payable	55		50
Interest payable	70		48
Current pension and other postretirement benefit obligation	9		11
Accrued insurance (including workers’ compensation)	9		10
Restructuring and other charges	25		29
Current operating lease obligation	107		109
Current financing lease obligation	5		5
Accrued income taxes	151		94
Other accounts payable and accrued expenses payable	267		270
Other	108		93
Total	$	916	$	832