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Other Current Assets and Liabilities, and Other Assets | 9 Months Ended
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Sep. 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) | September 30, 2024 |  | December 31, 2023
Value-added tax receivable | $ | 163 |  |  | $ | 187 |
Prepaid income taxes | 126 |  |  | 178 |
Packaging materials and supplies | 135 |  |  | 161 |
Prepaid expenses | 229 |  |  | 184 |
Other | 117 |  |  | 165 |
Total | $ | 770 |  |  | $ | 875 |
Other assets consisted of the following amounts:
(DOLLARS IN MILLIONS) | September 30, 2024 |  | December 31, 2023
Deferred income taxes | $ | 401 |  |  | $ | 278 |
Overfunded pension plans | 129 |  |  | 139 |
Cash surrender value of life insurance contracts | 52 |  |  | 49 |
Finance lease right-of-use assets | 28 |  |  | 26 |
Equity method investments | 10 |  |  | 11 |
Other(1) | 348 |  |  | 261 |
Total | $ | 968 |  |  | $ | 764 |
_______________________ (1)Includes long-term receivables, deposits, land usage rights in China, and derivative assets. Other current liabilities consisted of the following amounts:
(DOLLARS IN MILLIONS) | September 30, 2024 |  | December 31, 2023
Rebates and incentives payable | $ | 123 |  |  | $ | 105 |
Value-added tax payable | 56 |  |  | 77 |
Interest payable | 70 |  |  | 65 |
Current pension and other postretirement benefit obligation | 13 |  |  | 13 |
Earn outs payable(1) | — |  |  | 32 |
Accrued restructuring | 2 |  |  | 14 |
Current operating lease obligation | 88 |  |  | 85 |
Accrued income taxes | 67 |  |  | 194 |
Accrued expenses payable(1) | 251 |  |  | 295 |
Other | 81 |  |  | 97 |
Total | $ | 751 |  |  | $ | 977 |
_______________________ (1)During the nine months ended September 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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