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SUPPLEMENTAL FINANCIAL INFORMATION | 9 Months Ended
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Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
SUPPLEMENTAL FINANCIAL INFORMATION | SUPPLEMENTAL FINANCIAL INFORMATION Interest Expense, Net
| Three months ended September 30, |  | Nine months ended September 30,
(in millions) | 2021 | 2020 |  | 2021 | 2020
Interest expense, net of capitalized interest | $ | 54 |  | $ | 42 |  |  | $ | 128 |  | $ | 112 |
Interest income | (4) |  | (3) |  |  | (10) |  | (16) |
Interest expense, net | $ | 50 |  | $ | 39 |  |  | $ | 118 |  | $ | 96 |
Other Expense, Net
| Three months ended September 30, |  | Nine months ended September 30,
(in millions) | 2021 | 2020 |  | 2021 | 2020
Foreign exchange (gains) losses, net | $ | — |  | $ | 23 |  |  | $ | 5 |  | $ | 44 |
Pension and other postretirement benefit plans | 4 |  | — |  |  | 11 |  | (2) |
Change in fair value of marketable equity securities | 9 |  | (9) |  |  | 2 |  | (9) |
Other, net | (1) |  | 2 |  |  | (3) |  | (1) |
Other expense, net | $ | 12 |  | $ | 16 |  |  | $ | 15 |  | $ | 32 |
Allowance for Doubtful Accounts The following table is a summary of the changes in our allowance for doubtful accounts for the three and nine months ended September 30, 2021 and 2020.
| Three months ended September 30, | Nine months ended September 30,
(in millions) | 2021 | 2020 | 2021 | 2020
Balance at beginning of period | $ | 117 |  | $ | 120 |  | $ | 125 |  | $ | 112 |
Adoption of new accounting standard | — |  | — |  | — |  | 4 |
Charged to costs and expenses | 2 |  | 3 |  | (1) |  | 15 |
Write-offs | (2) |  | (3) |  | (3) |  | (4) |
Currency translation adjustments | (2) |  | 2 |  | (6) |  | (5) |
Balance at end of period | $ | 115 |  | $ | 122 |  | $ | 115 |  | $ | 122 |
Inventories
(in millions) | September 30, 2021 | December 31, 2020
Raw materials | $ | 479 |  | $ | 460 |
Work in process | 219 |  | 196 |
Finished goods | 1,327 |  | 1,260 |
Inventories | $ | 2,025 |  | $ | 1,916 |
Property, Plant and Equipment, Net
(in millions) | September 30, 2021 | December 31, 2020
Property, plant and equipment, at cost | $ | 11,171 |  | $ | 11,271 |
Accumulated depreciation | (6,589) |  | (6,549) |
Property, plant and equipment, net | $ | 4,582 |  | $ | 4,722 |
Non-Cash Operating and Investing Activities Right-of-use operating lease assets obtained in exchange for lease obligations for the nine months ended September 30, 2021 and 2020 were $69 million and $42 million, respectively. Right-of-use finance lease assets obtained in exchange for lease obligations for the nine months ended September 30, 2020 were $7 million. Purchases of property, plant and equipment included in accounts payable as of September 30, 2021 and 2020 were $49 million and $48 million, respectively.

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