Supplementary Information

6 Months Ended

Jun. 30, 2023

Accounts Receivable, Net

Accounts receivable, net as of June 30, 2023 and December 31, 2022, consist of:


(in millions)	As of June 30, 2023		As of December 31, 2022
Accounts receivable — trade	$	1,221	$	1,200
Accounts receivable — other	162		228
Allowance for credit losses	(17)		(17)
Total accounts receivable	$	1,366	$	1,411

There were no significant contract assets or contract liabilities associated with our customers as of June 30, 2023 or December 31, 2022. Liabilities for volume discounts and incentives were also not significant as of June 30, 2023 or December 31, 2022.

Inventories

Inventories as of June 30, 2023 and December 31, 2022, consist of:


(in millions)	As of June 30, 2023		As of December 31, 2022
Finished and in process	$	998	$	962
Raw materials	527		539
Manufacturing supplies	93		96
Total inventories	$	1,618	$	1,597

Supply Chain Finance Programs

Under supply chain finance programs administered by third-party banks, our suppliers have the opportunity to sell receivables due from us to participating financing institutions and receive earlier payment at a discount. Our responsibility is limited to making payment on the terms originally negotiated with our supplier, regardless of whether such supplier sells its receivable to a financial institution. The payment terms we negotiate with a supplier are independent of whether such supplier participates in a supply chain finance program, and participation in any such program by a supplier has no effect on our income or cash flows.

As of June 30, 2023 and December 31, 2022, participating financial institutions held $105 million and $175 million, respectively, of our liabilities recorded in accounts payable and accrued liabilities on our Condensed Consolidated Balance Sheets. As of June 30, 2023, supply chain finance programs existed for operations in Brazil, Mexico, Colombia, Thailand, and certain PureCircle entities.