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Other Current Assets and Liabilities, and Other Assets (Tables) | 6 Months Ended
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Jun. 30, 2025
Other Assets [Abstract] |
Schedule of Other Assets | Other assets consisted of the following amounts:
(DOLLARS IN MILLIONS) | June 30, 2025 |  | December 31, 2024
Deferred income taxes | $ | 244 |  |  | $ | 240 |
Overfunded pension plans | 168 |  |  | 144 |
Cash surrender value of life insurance contracts | 53 |  |  | 52 |
Finance lease right-of-use assets | 29 |  |  | 27 |
Equity method investments | 16 |  |  | 10 |
Long-term receivables(1) | 240 |  |  | 171 |
Other(2) | 205 |  |  | 193 |
Total | $ | 955 |  |  | $ | 837 |
_______________________ (1)Primarily relates to long-term tax receivables due to an operating loss carryback and receivables from certain government authorities, which the Company has corresponding payables to DuPont in relation to the N&B Transaction in 2021. (2)Includes 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, 2025 |  | December 31, 2024
Value-added tax receivable | $ | 154 |  |  | $ | 152 |
Prepaid income taxes | 212 |  |  | 193 |
Deferred charges | 40 |  |  | 44 |
Packaging materials and supplies | 133 |  |  | 123 |
Prepaid expenses | 180 |  |  | 159 |
Earnout receivable | 100 |  |  | — |
Other | 121 |  |  | 66 |
Total | $ | 940 |  |  | $ | 737 |
Other Current Liabilities | Other current liabilities consisted of the following amounts:
(DOLLARS IN MILLIONS) | June 30, 2025 |  | December 31, 2024
Rebates and incentives payable | $ | 98 |  |  | $ | 111 |
Value-added tax payable | 46 |  |  | 58 |
Interest payable | 47 |  |  | 42 |
Current pension and other postretirement benefit obligation | 13 |  |  | 12 |
Accrued restructuring | 28 |  |  | 3 |
Current operating lease obligation | 95 |  |  | 82 |
Accrued income taxes | 218 |  |  | 131 |
Accrued expenses payable | 318 |  |  | 203 |
Other | 112 |  |  | 141 |
Total | $ | 975 |  |  | $ | 783 |

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