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SUPPLEMENTAL FINANCIAL INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2024
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, 2024 and 2023.
| Three Months Ended June 30, | Six Months Ended June 30,
(in millions) | 2024 | 2023 | 2024 | 2023
Balance at beginning of period | $ | 121 |  | $ | 122 |  | $ | 129 |  | $ | 114 |
Charged to costs and expenses | 3 |  | 9 |  | 2 |  | 16 |
Write-offs | (1) |  | (5) |  | (7) |  | (6) |
Currency translation adjustments | — |  | 2 |  | (1) |  | 4 |
Balance at end of period | $ | 123 |  | $ | 128 |  | $ | 123 |  | $ | 128 |
Inventories | Inventories
(in millions) | June 30, 2024 | December 31, 2023
Raw materials | $ | 750 |  | $ | 731 |
Work in process | 308 |  | 285 |
Finished goods | 1,927 |  | 1,808 |
Inventories | $ | 2,985 |  | $ | 2,824 |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net
(in millions) | June 30, 2024 | December 31, 2023
Property, plant and equipment, at cost | $ | 10,774 |  | $ | 11,223 |
Accumulated depreciation | (6,460) |  | (6,790) |
Property, plant and equipment, net | $ | 4,314 |  | $ | 4,433 |
Interest Expense, Net | Interest Expense, Net
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2024 | 2023 |  | 2024 | 2023
Interest expense, net of capitalized interest | $ | 104 |  | $ | 132 |  |  | $ | 207 |  | $ | 259 |
Interest income | (19) |  | (8) |  |  | (44) |  | (18) |
Interest expense, net | $ | 85 |  | $ | 124 |  |  | $ | 163 |  | $ | 241 |
Other (Income) Expense-, Net | Other (Income) Expense, Net
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2024 | 2023 |  | 2024 | 2023
Foreign exchange losses, net | $ | — |  | $ | 22 |  |  | $ | 14 |  | 36 |
Pension and other postretirement benefit plans | (10) |  | (11) |  |  | (22) |  | (21) |
Change in fair value of marketable equity securities | — |  | 11 |  |  | (4) |  | 6 |
Non-marketable investment impairments | — |  | 23 |  |  | — |  | 23 |
Other, net | (10) |  | (3) |  |  | (15) |  | (4) |
Other (income) expense, net | $ | (20) |  | $ | 42 |  |  | $ | (27) |  | $ | 40 |

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