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SUPPLEMENTAL FINANCIAL INFORMATION | 3 Months Ended
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Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
SUPPLEMENTAL FINANCIAL INFORMATION | SUPPLEMENTAL FINANCIAL INFORMATION Allowance for Doubtful Accounts The following table is a summary of the changes in our allowance for doubtful accounts for the three months ended March 31, 2022 and 2021.
| Three months ended March 31, |
(in millions) | 2022 | 2021 |  |
Balance at beginning of period | $ | 122 |  | $ | 125 |  |  |
Charged to costs and expenses | 6 |  | 1 |  |  |
Write-offs | (1) |  | — |  |  |
Currency translation adjustments | 2 |  | (6) |  |  |
Balance at end of period | $ | 129 |  | $ | 120 |  |  |
Inventories
(in millions) | March 31, 2022 | December 31, 2021
Raw materials | $ | 656 |  | $ | 591 |
Work in process | 285 |  | 300 |
Finished goods | 1,607 |  | 1,562 |
Inventories | $ | 2,548 |  | $ | 2,453 |
Property, Plant and Equipment, Net
(in millions) | March 31, 2022 | December 31, 2021
Property, plant and equipment, at cost | $ | 11,757 |  | $ | 11,728 |
Accumulated depreciation | (6,643) |  | (6,550) |
Property, plant and equipment, net | $ | 5,114 |  | $ | 5,178 |
Interest Expense, Net
| Three months ended March 31, |  |
(in millions) | 2022 | 2021 |  |  |
Interest expense, net of capitalized interest | $ | 88 |  | $ | 37 |  |  |  |
Interest income | (3) |  | (3) |  |  |  |
Interest expense, net | $ | 85 |  | $ | 34 |  |  |  |
Other (Income) Expense, Net
| Three months ended March 31, |  |
(in millions) | 2022 | 2021 |  |  |
Foreign exchange (gains) losses, net | $ | (11) |  | $ | (3) |  |  |  |
Pension and other postretirement benefit plans | (5) |  | 4 |  |  |  |
Other, net | — |  | 4 |  |  |  |
Other (income) expense, net | $ | (16) |  | $ | 5 |  |  |  |
Non-Cash Operating and Investing Activities Right-of-use operating lease assets obtained in exchange for lease obligations for the three months ended March 31, 2022 and 2021 were $14 million and $5 million, respectively. Purchases of property, plant and equipment included in accounts payable as of March 31, 2022 and 2021 were $53 million and $63 million, respectively. There were no unsettled share repurchases as of March 31, 2022. Unsettled share repurchases included in accrued expenses and other current liabilities were $47 million as of March 31, 2021.

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