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Other Current Assets and Liabilities, and Other Assets | 6 Months Ended
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Jun. 30, 2024
Other Assets [Abstract] |
Other Current Assets and Liabilities, and Other Assets | OTHER CURRENT ASSETS AND LIABILITIES, AND OTHER ASSETS Prepaid expenses and other current assets consisted of the following amounts:
(DOLLARS IN MILLIONS) | June 30, 2024 |  | December 31, 2023
Value-added tax receivable | $ | 162 |  |  | $ | 187 |
Prepaid income taxes | 132 |  |  | 178 |
Packaging materials and supplies | 136 |  |  | 161 |
Prepaid expenses | 217 |  |  | 184 |
Other | 81 |  |  | 165 |
Total | $ | 728 |  |  | $ | 875 |
Other assets consisted of the following amounts:
(DOLLARS IN MILLIONS) | June 30, 2024 |  | December 31, 2023
Deferred income taxes | $ | 293 |  |  | $ | 278 |
Overfunded pension plans | 119 |  |  | 139 |
Cash surrender value of life insurance contracts | 52 |  |  | 49 |
Finance lease right-of-use assets | 26 |  |  | 26 |
Equity method investments | 11 |  |  | 11 |
Other(1) | 304 |  |  | 261 |
Total | $ | 805 |  |  | $ | 764 |
_______________________ (1)Includes long-term receivables, deposits, and land usage rights in China. Other current liabilities consisted of the following amounts:
(DOLLARS IN MILLIONS) | June 30, 2024 |  | December 31, 2023
Rebates and incentives payable | $ | 103 |  |  | $ | 105 |
Value-added tax payable | 44 |  |  | 77 |
Interest payable | 61 |  |  | 65 |
Current pension and other postretirement benefit obligation | 14 |  |  | 13 |
Earn outs payable(1) | — |  |  | 32 |
Accrued restructuring | 3 |  |  | 14 |
Current operating lease obligation | 87 |  |  | 85 |
Accrued income taxes | 57 |  |  | 194 |
Accrued expenses payable(1) | 273 |  |  | 295 |
Other | 120 |  |  | 97 |
Total | $ | 762 |  |  | $ | 977 |
_______________________ (1)During the three months ended June 30, 2024, the Company paid $36 million to the Seller as part of the acquisition of Health Wright Products, Inc., out of which $30 million related to "Earn outs payable", and $6 million related to escrow funds which were recorded within "Accrued expenses payable".

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