Other Assets and Liabilities, Current and Noncurrent (Tables)

9 Months Ended

Sep. 30, 2022

Other Assets [Abstract]

Schedule of Other Assets

Other assets consisted of the following amounts:

(DOLLARS IN MILLIONS)	September 30, 2022		December 31, 2021
Finance lease right-of-use assets	$	40	$	21
Deferred income taxes	177		82
Overfunded pension plans	148		136
Cash surrender value of life insurance contracts	47		52
Equity method investments	10		86
Other(1)	241		239
Total	$	663	$	616

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(1)Includes land usage rights in China, long-term deposits and receivables on certain derivative instruments.

Schedule of Other Current Assets

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

(DOLLARS IN MILLIONS)	September 30, 2022		December 31, 2021
Value-added tax receivable	$	196	$	178
Income tax receivable	100		131
Prepaid expenses	348		288
Other	149		131
Total	$	793	$	728

Other Current Liabilities

Other current liabilities consisted of the following amounts:

(DOLLARS IN MILLIONS)	September 30, 2022		December 31, 2021
Rebates and incentives payable	$	102	$	113
Value-added tax payable	45		50
Interest payable	74		48
Current pension and other postretirement benefit obligation	6		11
Accrued insurance (including workers’ compensation)	9		10
Restructuring and other charges	15		29
Current operating lease obligation	87		109
Current financing lease obligation	6		5
Accrued income taxes	412		94
Other accounts payable and accrued expenses payable	268		270
Other	104		93
Total	$	1,128	$	832