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OTHER FINANCIAL INFORMATION
 6 Months Ended
Jun. 30, 2022
Other Financial Information [Abstract]  
OTHER FINANCIAL INFORMATION OTHER FINANCIAL INFORMATION
Accounts receivable, net
The following table summarizes our Accounts receivable, net:
(in millions)June 30, 2022December 31, 2021
Accounts receivable$4,901 $5,278 
Less: chargebacks640 671 
Less: cash discounts and other92 67 
Less: allowances for credit losses51 47 
Accounts receivable, net$4,118 $4,493 
Inventories
The following table summarizes our Inventories:
(in millions)June 30, 2022December 31, 2021
Raw materials$1,067 $1,112 
Work in process484 590 
Finished goods1,036 1,032 
Total
$2,587 $2,734 
Reported as:
Inventories
$1,494 $1,618 
Other long-term assets(1)
1,094 1,116 
Total
$2,587 $2,734 
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(1)     Amounts primarily consist of raw materials.
Accrued and other current liabilities
The following table summarizes the components of Accrued and other current liabilities:
(in millions)June 30, 2022December 31, 2021
Compensation and employee benefits$623 $927 
Income taxes payable902 539 
Allowance for sales returns381 499 
Accrual for settlement related to bictegravir litigation(1)
— 1,250 
Other accrued liabilities2,209 2,930 
Total$4,115 $6,145 
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(1)     See Note 10. Commitments and Contingencies for additional information.