SUPPLEMENTAL FINANCIAL INFORMATION

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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.