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SUPPLEMENTAL FINANCIAL INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2023
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, 2023 and 2022.
| Three months ended June 30, | Six months ended June 30,
(in millions) | 2023 | 2022 | 2023 | 2022
Balance at beginning of period | $ | 122 |  | $ | 129 |  | $ | 114 |  | $ | 122 |
Charged to costs and expenses | 9 |  | 3 |  | 16 |  | 9 |
Write-offs | (5) |  | (1) |  | (6) |  | (2) |
Currency translation adjustments | 2 |  | (6) |  | 4 |  | (4) |
Balance at end of period | $ | 128 |  | $ | 125 |  | $ | 128 |  | $ | 125 |
Inventories | Inventories
(in millions) | June 30, 2023 | December 31, 2022
Raw materials | $ | 742 |  | $ | 698 |
Work in process | 316 |  | 294 |
Finished goods | 1,839 |  | 1,687 |
Inventories | $ | 2,897 |  | $ | 2,679 |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net
(in millions) | June 30, 2023 | December 31, 2022
Property, plant and equipment, at cost | $ | 11,028 |  | $ | 10,780 |
Accumulated depreciation | (6,534) |  | (6,085) |
Property, plant and equipment, net | $ | 4,494 |  | $ | 4,695 |
Interest Expense, Net | Interest Expense, Net
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2023 | 2022 |  | 2023 | 2022
Interest expense, net of capitalized interest | $ | 132 |  | $ | 93 |  |  | $ | 259 |  | $ | 181 |
Interest income | (8) |  | (4) |  |  | (18) |  | (7) |
Interest expense, net | $ | 124 |  | $ | 89 |  |  | $ | 241 |  | $ | 174 |
Other Income, Net | Other (Income) Expense, Net
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2023 | 2022 |  | 2023 | 2022
Foreign exchange (gains) losses, net | $ | 22 |  | $ | (15) |  |  | $ | 36 |  | $ | (26) |
Pension and other postretirement benefit plans | (11) |  | (7) |  |  | (21) |  | (12) |
Pension curtailment | — |  | (11) |  |  | — |  | (11) |
Change in fair value of marketable equity securities | 11 |  | (8) |  |  | 6 |  | (8) |
Non-marketable investment impairments | 23 |  | — |  |  | 23 |  | — |
Other, net | (3) |  | (3) |  |  | (4) |  | (3) |
Other (income) expense, net | $ | 42 |  | $ | (44) |  |  | $ | 40 |  | $ | (60) |

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