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v3.22.1

Other Assets and Liabilities, Current and Noncurrent | 3 Months Ended
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Mar. 31, 2022
Other Assets [Abstract] |
Other Assets and Liabilities, Current and Noncurrent | OTHER CURRENT ASSETS AND LIABILITIES, AND OTHER 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 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 |
_______________________ (1)Includes land usage rights in China and long term deposits. 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 |

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