SUPPLEMENTAL FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUPPLEMENTAL FINANCIAL INFORMATION

SUPPLEMENTAL FINANCIAL INFORMATION

Inventories

as of December 31 (in millions)	2020		2019
Raw materials	$	460	$	377
Work in process	196		185
Finished goods	1,260		1,091
Inventories	$	1,916	$	1,653

Prepaid Expenses and Other Current Assets

as of December 31 (in millions)	2020		2019
Prepaid value added taxes	$	163	$	140
Prepaid income taxes	183		164
Other	342		315
Prepaid expenses and other current assets	$	688	$	619

Property, Plant and Equipment, Net

as of December 31 (in millions)	2020		2019
Land and land improvements	$	166	$	148
Buildings and leasehold improvements	1,849		1,761
Machinery and equipment	6,884		6,671
Equipment with customers	1,671		1,489
Construction in progress	701		591
Total property, plant and equipment (PP&E), at cost	11,271		10,660
Accumulated depreciation	(6,549)		(6,148)
PP&E, net	$	4,722	$	4,512

Depreciation expense was $601 million in 2020, $606 million in 2019 and $602 million in 2018.

Other Non-Current Assets

as of December 31 (in millions)	2020		2019
Deferred tax assets	$	748	$	621
Non-current receivables, net	158		163
Contract assets	64		68
Capitalized implementation costs in hosting arrangements	68		—
Pension and other postretirement benefits	155		77
Investments	135		76
Other	67		64
Other non-current assets	$	1,395	$	1,069

Accounts Payable and Accrued Liabilities

as of December 31 (in millions)	2020		2019
Accounts payable	$	1,043	$	892
Common stock dividends payable	125		111
Employee compensation and withholdings	415		456
Property, payroll and certain other taxes	148		113
Restructuring liabilities	92		83
Accrued rebates	239		208
Operating lease liabilities	111		101
Income taxes payable	135		85
Pension and other postretirement benefits	48		45
Other	571		595
Accounts payable and accrued liabilities	$	2,927	$	2,689

Other Non-Current Liabilities

as of December 31 (in millions)	2020		2019
Pension and other postretirement benefits	$	1,214	$	1,260
Deferred tax liabilities	143		192
Long-term tax liabilities	84		81
Interest rate contracts	—		52
Litigation and environmental reserves	29		30
Restructuring liabilities	21		9
Other	182		108
Other non-current liabilities	$	1,673	$	1,732

Interest Expense, net

years ended December 31 (in millions)	2020		2019		2018
Interest costs	$	162	$	120	$	105
Interest costs capitalized	(9)		(9)		(12)
Interest expense	153		111		93
Interest income	(19)		(40)		(48)
Interest expense, net	$	134	$	71	$	45

Other (Income) Expense, net

years ended December 31 (in millions)	2020		2019		2018
Foreign exchange losses (gains), net	$	49	$	37	$	(14)
Investment gains	(13)		(1)		(3)
Saudi Arabia joint venture gain	—		—		(24)
Loss on debt extinguishment	110		—		—
Pension settlements	46		755		1
Pension and other postretirement benefit plans	(3)		(53)		(49)
Other, net	1		(7)		11
Other (income) expense, net	$	190	$	731	$	(78)

Supplemental Cash Flow Information

Non-Cash Investing Activities

Purchases of property, plant and equipment included in accounts payable and accrued liabilities as of December 31, 2020, 2019 and 2018 was $102 million, $87 million and $97 million, respectively.

Other Supplemental Information

year ended December 31 (in millions)	2020		2019		2018
Interest paid, net of portion capitalized	$	137	$	103	$	94
Income taxes paid	$	249	$	294	$	301