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Other Current Assets and Liabilities, and Other Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Other Assets [Abstract]  
Schedule of Other Assets
Other assets consisted of the following amounts:
(DOLLARS IN MILLIONS)June 30, 2024December 31, 2023
Deferred income taxes$293 $278 
Overfunded pension plans119 139 
Cash surrender value of life insurance contracts52 49 
Finance lease right-of-use assets26 26 
Equity method investments11 11 
Other(1)
304 261 
Total$805 $764 
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(1)Includes long-term receivables, deposits, and land usage rights in China.
Schedule of Other Current Assets
Prepaid expenses and other current assets consisted of the following amounts:
(DOLLARS IN MILLIONS)June 30, 2024December 31, 2023
Value-added tax receivable$162 $187 
Prepaid income taxes132 178 
Packaging materials and supplies136 161 
Prepaid expenses217 184 
Other81 165 
Total$728 $875 
Other Current Liabilities
Other current liabilities consisted of the following amounts:
(DOLLARS IN MILLIONS)June 30, 2024December 31, 2023
Rebates and incentives payable$103 $105 
Value-added tax payable44 77 
Interest payable61 65 
Current pension and other postretirement benefit obligation14 13 
Earn outs payable(1)
— 32 
Accrued restructuring3 14 
Current operating lease obligation87 85 
Accrued income taxes57 194 
Accrued expenses payable(1)
273 295 
Other120 97 
Total$762 $977