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Supplementary Information | 3 Months Ended
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Mar. 31, 2024
Supplementary Information |
Supplementary Information | 12. Supplementary Information Accounts Receivable, Net Accounts receivable, net as of March 31, 2024 and December 31, 2023 were as follows:
|  | As of March 31, 2024 |  | As of December 31, 2023
Accounts receivable — trade |  | $ | 1,128 |  |  | $ | 1,145 |
Accounts receivable — other |  | 173 |  |  | 154 |
Allowance for credit losses |  | (17) |  |  | (20) |
Total accounts receivable, net |  | $ | 1,284 |  |  | $ | 1,279 |
There were no significant contract assets or contract liabilities associated with our customers as of either March 31, 2024 or December 31, 2023. Liabilities for volume discounts and incentives were also not significant as of either March 31, 2024 or December 31, 2023. Inventories Inventories as of March 31, 2024 and December 31, 2023 were as follows:
|  | As of March 31, 2024 |  | As of December 31, 2023
Finished and in process |  | $ | 852 |  |  | $ | 926 |
Raw materials |  | 402 |  |  | 434 |
Manufacturing supplies |  | 90 |  |  | 90 |
Total inventories |  | $ | 1,344 |  |  | $ | 1,450 |
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 receivables 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 March 31, 2024 and December 31, 2023, participating financial institutions held $149 million and $153 million of our liabilities recorded in Accounts payable and Accrued liabilities and liabilities held for sale on our Condensed Consolidated Balance Sheets. As of March 31, 2024, supply chain finance programs existed for operations in Brazil, China, Thailand, Mexico, Colombia and Peru. The rollforward of our outstanding obligations confirmed as valid under our supply chain finance programs for the quarter ending March 31, 2024 is as follows.
|  | As of March 31, 2024
Outstanding at the beginning of the year |  | $ | 153 |
Invoices added during the year |  | 141
Invoices paid during the year |  | (141) |
Currency translation adjustment |  | (4) |
Outstanding as of March 31, 2024 |  | $ | 149 |

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