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PAYABLES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Schedule of Payables and Other Current Liabilities

			December 31,
(Dollars in millions)			2020						2019
Trade creditors			$	799					$	890
Accrued payrolls, vacation, and variable-incentive compensation			228						176
Accrued taxes			178						89
Post-employment obligations			138						93
Dividends payable to shareholders			94						90
Other			252						280
Total payables and other current liabilities			$	1,689					$	1,618

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- Definition

Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.

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