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Other Current Assets and Liabilities, and Other Assets
 12 Months Ended
Dec. 31, 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:
 December 31,
(DOLLARS IN MILLIONS)20242023
Value-added tax receivable$152 $187 
Prepaid income taxes193 178 
Packaging materials and supplies123 161 
Prepaid expenses203 184 
Other66 165 
Total$737 $875 
Other assets consisted of the following amounts:
 December 31,
(DOLLARS IN MILLIONS)20242023
Finance lease right-of-use assets$27 $26 
Deferred income taxes240 278 
Overfunded pension plans144 139 
Cash surrender value of life insurance contracts52 49 
Equity method investments10 11 
Long-term receivables(1)
171 113 
Other(2)
193 148 
Total$837 $764 
_______________________ 
(1)Primarily relates to receivables from certain government authorities which have corresponding payables to DuPont in relation to the N&B Merger in 2021.
(2)Includes deposits and land usage rights in China.
Other current liabilities consisted of the following amounts:
 December 31,
(DOLLARS IN MILLIONS)20242023
Rebates and incentives payable$111 $105 
Value-added tax payable58 77 
Interest payable42 65 
Current pension and other postretirement benefit obligation12 13 
Earnouts payable(1)
— 32 
Accrued restructuring3 14 
Current operating lease obligation82 85 
Accrued income taxes131 194 
Accrued expenses payable(1)
203 295 
Other141 97 
Total$783 $977 
_______________________ 
(1)During the year ended December 31, 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 “Earnouts payable”, and $6 million related to escrow funds which were recorded within “Accrued expenses payable”.