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SUPPLEMENTAL FINANCIAL INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Allowance for Doubtful Accounts | 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, 2022 and 2021.
| Three months ended June 30, | Six months ended June 30,
(in millions) | 2022 | 2021 | 2022 | 2021
Balance at beginning of period | $ | 129 |  | $ | 120 |  | $ | 122 |  | $ | 125 |
Charged to costs and expenses | 3 |  | (4) |  | 9 |  | (3) |
Write-offs | (1) |  | (1) |  | (2) |  | (1) |
Currency translation adjustments | (6) |  | 2 |  | (4) |  | (4) |
Balance at end of period | $ | 125 |  | $ | 117 |  | $ | 125 |  | $ | 117 |
Inventories | Inventories
(in millions) | June 30, 2022 | December 31, 2021
Raw materials | $ | 678 |  | $ | 591 |
Work in process | 317 |  | 300 |
Finished goods | 1,668 |  | 1,562 |
Inventories | $ | 2,663 |  | $ | 2,453 |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net
(in millions) | June 30, 2022 | December 31, 2021
Property, plant and equipment, at cost | $ | 11,504 |  | $ | 11,728 |
Accumulated depreciation | (6,528) |  | (6,550) |
Property, plant and equipment, net | $ | 4,976 |  | $ | 5,178 |
Interest Expense, Net | Interest Expense, Net
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2022 | 2021 |  | 2022 | 2021
Interest expense, net of capitalized interest | $ | 93 |  | $ | 37 |  |  | $ | 181 |  | $ | 74 |
Interest income | (4) |  | (3) |  |  | (7) |  | (6) |
Interest expense, net | $ | 89 |  | $ | 34 |  |  | $ | 174 |  | $ | 68 |
Other (Income) Expense, Net | Other (Income) Expense, Net
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2022 | 2021 |  | 2022 | 2021
Foreign exchange (gains) losses, net | $ | (15) |  | $ | 8 |  |  | $ | (26) |  | $ | 5 |
Pension and other postretirement benefit plans | (7) |  | 3 |  |  | (12) |  | 7 |
Pension curtailment | (11) |  | — |  |  | (11) |  | — |
Change in fair value of marketable equity securities | (8) |  | (9) |  |  | (8) |  | (7) |
Other, net | (3) |  | (4) |  |  | (3) |  | (2) |
Other (income) expense, net | $ | (44) |  | $ | (2) |  |  | $ | (60) |  | $ | 3 |

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