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Supplementary Information | 3 Months Ended
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Mar. 31, 2025
Supplementary Information |
Supplementary Information | Supplementary Information Accounts receivable, net Accounts receivable, net was as follows:
|  | As of March 31, 2025 |  | As of December 31, 2024
Accounts receivable - trade |  | $ | 1,120 |  |  | $ | 939 |
Accounts receivable - other |  | 177 |  |  | 167 |
Allowance for credit losses |  | (13) |  |  | (13) |
Total accounts receivable, net |  | $ | 1,284 |  |  | $ | 1,093 |
There were no significant contract assets or contract liabilities associated with our customers as of March 31, 2025 or December 31, 2024. Liabilities for volume discounts and incentives were also not significant as of March 31, 2025 or December 31, 2024. Inventories Inventories were as follows:
|  | As of March 31, 2025 |  | As of December 31, 2024
Finished and in process |  | $ | 762 |  |  | $ | 762 |
Raw materials |  | 331 |  |  | 346 |
Manufacturing supplies |  | 79 |  |  | 79 |
Total inventories |  | $ | 1,172 |  |  | $ | 1,187 |
Investments Investments were as follows:
|  | As of March 31, 2025 |  | As of December 31, 2024
Equity method investments |  | $ | 105 |  |  | $ | 95 |
Equity investments |  | 26 |  |  | 31 |
Marketable securities |  | 5 |  |  | 5 |
Total investments |  | $ | 136 |  |  | $ | 131 |
Our equity method investments, which require us to use the equity method of accounting, included our 49% joint venture equity ownership in Ingrear Holding S.A., our Argentina joint venture, for the periods ended March 31, 2025 and December 31, 2024. Our investments classified as equity investments do not have readily determinable fair values. During the first quarter of 2025, we recognized other-than-temporary impairment charges of $5 million on certain equity investments. 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 March 31, 2025 and December 31, 2024, participating financial institutions held $148 million and $135 million of our liabilities recorded in Accounts payable and Accrued liabilities and liabilities held for sale in our Condensed Consolidated Balance Sheets. As of March 31, 2025, supply chain finance programs existed for operations in the U.S., Brazil, Mexico, certain PureCircle entities, Colombia, Peru, Thailand and China. The rollforward of our outstanding obligations confirmed as valid under our supply chain finance programs were as follows:
| As of March 31, 2025
Outstanding as of December 31, 2024 | $ | 135 |
Invoices added during the year | 122 |
Invoices paid during the year | (117) |
Cumulative translation adjustment | 8 |
Outstanding as of March 31, 2025 | $ | 148 |

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