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v3.23.3

Other Assets and Liabilities, Current and Noncurrent | 9 Months Ended
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Sep. 30, 2023
Other Assets [Abstract] |
Other Assets and Liabilities, Current and Noncurrent | OTHER CURRENT ASSETS AND LIABILITIES, AND OTHER ASSETSPrepaid expenses and other current assets consisted of the following amounts:
(DOLLARS IN MILLIONS) | September 30, 2023 |  | December 31, 2022
Value-added tax receivable | $ | 159 |  |  | $ | 212 |
Prepaid income taxes | 224 |  |  | 129 |
Packaging materials and supplies | 157 |  |  | 148 |
Prepaid expenses | 184 |  |  | 144 |
Other | 166 |  |  | 137 |
Total | $ | 890 |  |  | $ | 770 |
Other assets consisted of the following amounts:
(DOLLARS IN MILLIONS) | September 30, 2023 |  | December 31, 2022
Deferred income taxes | $ | 212 |  |  | $ | 167 |
Overfunded pension plans | 202 |  |  | 180 |
Cash surrender value of life insurance contracts | 46 |  |  | 45 |
Finance lease right-of-use assets | 25 |  |  | 22 |
Equity method investments | 10 |  |  | 10 |
Other(1) | 268 |  |  | 265 |
Total | $ | 763 |  |  | $ | 689 |
_______________________ (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) | September 30, 2023 |  | December 31, 2022
Rebates and incentives payable | $ | 99 |  |  | $ | 99 |
Value-added tax payable | 62 |  |  | 65 |
Interest payable | 74 |  |  | 55 |
Current pension and other postretirement benefit obligation | 5 |  |  | 10 |
Accrued insurance (including workers’ compensation) | 10 |  |  | 9 |
Earn outs payable | 31 |  |  | — |
Accrued restructuring | 25 |  |  | 15 |
Current operating lease obligation | 83 |  |  | 86 |
Accrued freight | 12 |  |  | 18 |
Accrued commissions payable | 10 |  |  | 11 |
Accrued income taxes | 118 |  |  | 313 |
Accrued expenses payable | 263 |  |  | 256 |
Other | 145 |  |  | 91 |
Total | $ | 937 |  |  | $ | 1,028 |

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