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SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION | 3 Months Ended
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Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION | NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION ALLOWANCE FOR CREDIT LOSSES The following is a roll-forward of our allowance for credit losses associated with Accounts receivable, net:
(In millions) | 2023 |  | 2022
Allowance for credit losses as of January 1 | $ | (4) |  |  | $ | (4) |
Increase in allowance | (1) |  |  | — |
Allowance for credit losses as of March 31 | $ | (5) |  |  | $ | (4) |
INVENTORIES The following table presents the detail of our Inventories on the Statements of Unaudited Condensed Consolidated Financial Position:
(In millions) | March 31, 2023 |  | December 31, 2022
Product inventories |  |  |
Finished and semi-finished goods | $ | 2,919 |  |  | $ | 2,971 |
Raw materials | 1,626 |  |  | 1,794 |
Total product inventories | 4,545 |  |  | 4,765 |
Manufacturing supplies and critical spares | 378 |  |  | 365 |
Inventories | $ | 4,923 |  |  | $ | 5,130 |
SUPPLY CHAIN FINANCE PROGRAMS We negotiate payment terms directly with our suppliers for the purchase of goods and services. We currently offer voluntary supply chain finance programs that enable our suppliers to sell their Cliffs receivables to financial intermediaries, at the sole discretion of both the suppliers and financial intermediaries. No guarantees are provided by us or our subsidiaries under the supply chain finance programs. The supply chain finance programs allow our suppliers to be paid by the financial intermediaries earlier than the due date on the applicable invoice. Supply chain finance programs that extend terms or provide us an economic benefit are classified as short-term financings. As of March 31, 2023 and December 31, 2022, we had $27 million and $19 million, respectively, deemed as short-term financings that are classified in Other current liabilities. Additionally, as of March 31, 2023 and December 31, 2022, we had $87 million and $112 million, respectively, classified as Accounts payable. CASH FLOW INFORMATION A reconciliation of capital additions to cash paid for capital expenditures is as follows:
| Three Months Ended March 31,
(In millions) | 2023 |  | 2022
Capital additions | $ | 128 |  |  | $ | 181 |
Less: |  |  |
Non-cash accruals | (76) |  |  | (55) |
Right-of-use assets - finance leases | 16 |  |  | — |
Cash paid for capital expenditures including deposits | $ | 188 |  |  | $ | 236 |
Cash payments (receipts) for income taxes and interest are as follows:
| Three Months Ended March 31,
(In millions) | 2023 |  | 2022
Taxes paid on income | $ | 1 |  |  | $ | 1 |
Income tax refunds | (26) |  |  | (1) |
Interest paid on debt obligations net of capitalized interest 1 | 79 |  |  | 65 |
1 Capitalized interest was $3 million and $2 million for the three months ended March 31, 2023 and 2022, respectively.

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