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v3.22.2

Other Assets and Liabilities, Current and Noncurrent | 6 Months Ended
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Jun. 30, 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) | June 30, 2022 |  | December 31, 2021
Value-added tax receivable | $ | 192 |  |  | $ | 178 |
Income tax receivable | 104 |  |  | 131 |
Prepaid expenses | 344 |  |  | 288 |
Other | 138 |  |  | 131 |
Total | $ | 778 |  |  | $ | 728 |
Other assets consisted of the following amounts:
(DOLLARS IN MILLIONS) | June 30, 2022 |  | December 31, 2021
Finance lease right-of-use assets | $ | 41 |  |  | $ | 21 |
Deferred income taxes | 130 |  |  | 82 |
Overfunded pension plans | 138 |  |  | 136 |
Cash surrender value of life insurance contracts | 45 |  |  | 52 |
Equity method investments | 84 |  |  | 86 |
Other(1) | 288 |  |  | 239 |
Total | $ | 726 |  |  | $ | 616 |
_______________________ (1)Includes land usage rights in China, long-term deposits and receivables on certain derivative instruments. Other current liabilities consisted of the following amounts:
(DOLLARS IN MILLIONS) | June 30, 2022 |  | December 31, 2021
Rebates and incentives payable | $ | 96 |  |  | $ | 113 |
Value-added tax payable | 44 |  |  | 50 |
Interest payable | 47 |  |  | 48 |
Current pension and other postretirement benefit obligation | 7 |  |  | 11 |
Accrued insurance (including workers’ compensation) | 9 |  |  | 10 |
Restructuring and other charges | 26 |  |  | 29 |
Current operating lease obligation | 98 |  |  | 109 |
Current financing lease obligation | 6 |  |  | 5 |
Accrued income taxes | 165 |  |  | 94 |
Other accounts payable and accrued expenses payable | 254 |  |  | 270 |
Other | 114 |  |  | 93 |
Total | $ | 866 |  |  | $ | 832 |

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