Supplemental Balance Sheet Information

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Balance Sheet Information

NOTE 7. Supplemental Balance Sheet Information

Additional supplemental balance sheet information is provided in the table that follows.

(Millions)	2023		2022
Other current assets
Derivative assets-current	$	73	$	162
Insurance related (receivables, prepaid expenses and other)	114		103
Other	149		191
Total other current assets	$	336	$	456
Property, plant and equipment - at cost
Land	$	255	$	255
Buildings and leasehold improvements (original lives 10 to 40 years)	7,908		7,560
Machinery and equipment (original lives 3 to 15 years)	16,855		16,455
Construction in progress	1,852		1,728
Gross property, plant and equipment	26,870		25,998
Accumulated depreciation	(17,711)		(16,820)
Property, plant and equipment - net	$	9,159	$	9,178
Other assets
Deferred income taxes	$	4,918	$	959
Prepaid pension and post retirement	1,253		1,225
Insurance related receivables and other	33		73
Cash surrender value of life insurance policies	270		265
Equity method investments	74		81
Equity and other investments	170		886
Other	412		782
Total other assets	$	7,130	$	4,271
Other current liabilities
Accrued rebates	$	804	$	751
Deferred revenue	572		538
Derivative liabilities	34		31
Employee benefits and withholdings	257		247
Contingent liability claims and other	4,797		534
Property, sales-related and other taxes	217		224
Pension and postretirement benefits	79		77
Other	851		788
Total other current liabilities	$	7,611	$	3,190
Other liabilities
Long term income taxes payable	$	872	$	1,051
Employee benefits	332		386
Contingent liability claims and other	12,158		2,179
Finance lease obligations	60		75
Deferred income taxes	528		559
Other	372		1,365
Total other liabilities	$	14,322	$	5,615

As of December 31, 2023, contingent liability claims and other (within other current liabilities) includes $2.9 billion and $1.5 billion, respectively, and contingent liability claims and other (within other liabilities) includes $7.5 billion and $3.5 billion, respectively of amounts due under the PWS Settlement and CAE Settlement (refer to Note 18), both reached in 2023.

As of December 31, 2022, balances include amounts associated with the deconsolidated Aearo Entities, which were reconsolidated in 2023 (refer to Note 18). These include: $0.7 billion in equity and other investments (within other assets), $0.3 billion in other (within other assets), $1.2 billion accrued liability largely reflected within contingent liability claims and other (within other liabilities), and $0.9 billion in other (within other liabilities).