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SUPPLEMENTAL FINANCIAL INFORMATION | 6 Months Ended
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Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
SUPPLEMENTAL FINANCIAL INFORMATION | SUPPLEMENTAL FINANCIAL INFORMATIONInterest Expense, Net
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2021 | 2020 |  | 2021 | 2020
Interest expense, net of capitalized interest | $ | 37 |  | $ | 40 |  |  | $ | 74 |  | $ | 70 |
Interest income | (3) |  | (4) |  |  | (6) |  | (13) |
Interest expense, net | $ | 34 |  | $ | 36 |  |  | $ | 68 |  | $ | 57 |
Other (Income) Expense, Net
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2021 | 2020 |  | 2021 | 2020
Foreign exchange (gains) losses, net | $ | 8 |  | $ | 10 |  |  | $ | 5 |  | $ | 21 |
Pension and other postretirement benefit plans | 3 |  | (1) |  |  | 7 |  | (2) |
Change in fair value of marketable equity securities | (9) |  | — |  |  | (7) |  | — |
Other, net | (4) |  | (3) |  |  | (2) |  | (3) |
Other (income) expense, net | $ | (2) |  | $ | 6 |  |  | $ | 3 |  | $ | 16 |
Allowance for Doubtful Accounts The following table is a summary of the changes in our allowance for doubtful accounts for the three and six months ended June 30, 2021 and 2020.
| Three months ended June 30, | Six months ended June 30,
(in millions) | 2021 | 2020 | 2021 | 2020
Balance at beginning of period | $ | 120 |  | $ | 114 |  | $ | 125 |  | $ | 112 |
Adoption of new accounting standard | — |  | — |  | — |  | 4 |
Charged to costs and expenses | (4) |  | 5 |  | (3) |  | 12 |
Write-offs | (1) |  | (1) |  | (1) |  | (1) |
Currency translation adjustments | 2 |  | 2 |  | (4) |  | (7) |
Balance at end of period | $ | 117 |  | $ | 120 |  | $ | 117 |  | $ | 120 |
Inventories
(in millions) | June 30, 2021 | December 31, 2020
Raw materials | $ | 474 |  | $ | 460 |
Work in process | 225 |  | 196 |
Finished goods | 1,366 |  | 1,260 |
Inventories | $ | 2,065 |  | $ | 1,916 |
Property, Plant and Equipment, Net
(in millions) | June 30, 2021 | December 31, 2020
Property, plant and equipment, at cost | $ | 11,261 |  | $ | 11,271 |
Accumulated depreciation | (6,612) |  | (6,549) |
Property, plant and equipment, net | $ | 4,649 |  | $ | 4,722 |
Non-Cash Operating and Investing Activities Right-of-use operating lease assets obtained in exchange for lease obligations for the six months ended June 30, 2021 and 2020 were $21 million and $35 million, respectively. Right-of-use finance lease assets obtained in exchange for lease obligations for the six months ended June 30, 2020 were $7 million. As of June 30, 2021, we have entered into lease agreements with aggregate future lease payments of approximately $46 million for facilities and equipment that have not yet commenced. Purchases of property, plant and equipment included in accounts payable as of June 30, 2021 and 2020 were $70 million and $42 million, respectively. Unsettled share repurchases included in accrued expenses and other current liabilities were $35 million as of June 30, 2021. There were no unsettled share repurchases as of June 30, 2020.

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