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v3.24.1.u1

Other Assets and Liabilities, Current and Noncurrent | 3 Months Ended
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Mar. 31, 2024
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, 2024 |  | December 31, 2023
Value-added tax receivable | $ | 171 |  |  | $ | 187 |
Prepaid income taxes | 163 |  |  | 178 |
Packaging materials and supplies | 161 |  |  | 161 |
Prepaid expenses | 202 |  |  | 184 |
Other | 74 |  |  | 165 |
Total | $ | 771 |  |  | $ | 875 |
Other assets consisted of the following amounts:
(DOLLARS IN MILLIONS) | March 31, 2024 |  | December 31, 2023
Deferred income taxes | $ | 253 |  |  | $ | 278 |
Overfunded pension plans | 142 |  |  | 139 |
Cash surrender value of life insurance contracts | 50 |  |  | 49 |
Finance lease right-of-use assets | 26 |  |  | 26 |
Equity method investments | 11 |  |  | 11 |
Other(1) | 255 |  |  | 261 |
Total | $ | 737 |  |  | $ | 764 |
_______________________ (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) | March 31, 2024 |  | December 31, 2023
Rebates and incentives payable | $ | 102 |  |  | $ | 105 |
Value-added tax payable | 49 |  |  | 77 |
Interest payable | 80 |  |  | 65 |
Current pension and other postretirement benefit obligation | 14 |  |  | 13 |
Accrued insurance (including workers’ compensation) | 9 |  |  | 9 |
Earn outs payable | 32 |  |  | 32 |
Accrued restructuring | 3 |  |  | 14 |
Current operating lease obligation | 91 |  |  | 85 |
Accrued freight | 13 |  |  | 14 |
Accrued commissions payable | 11 |  |  | 10 |
Accrued income taxes | 126 |  |  | 194 |
Accrued expenses payable | 300 |  |  | 262 |
Other | 126 |  |  | 97 |
Total | $ | 956 |  |  | $ | 977 |

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