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SUPPLEMENTAL FINANCIAL INFORMATION
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SUPPLEMENTAL FINANCIAL INFORMATION SUPPLEMENTAL FINANCIAL INFORMATION
Allowance for Doubtful Accounts
The following table is a summary of the changes in our allowance for doubtful accounts for the three and six months ended June 30, 2024 and 2023.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2024202320242023
Balance at beginning of period$121 $122 $129 $114 
Charged to costs and expenses3 9 2 16 
Write-offs(1)(5)(7)(6)
Currency translation adjustments— 2 (1)4 
Balance at end of period$123 $128 $123 $128 
Inventories
(in millions)June 30,
2024		December 31,
2023
Raw materials$750 $731 
Work in process308 285 
Finished goods1,927 1,808 
Inventories$2,985 $2,824 
Property, Plant and Equipment, Net
(in millions)June 30,
2024		December 31,
2023
Property, plant and equipment, at cost$10,774 $11,223 
Accumulated depreciation(6,460)(6,790)
Property, plant and equipment, net$4,314 $4,433 
Impairment of Manufacturing Facility
Our manufacturing facility in Opelika, Alabama was one of three Baxter manufacturing facilities that produced dialyzers used in hemodialysis (HD) treatments. The competitive environment has increased the global supply of those products and, in connection with our initiatives to streamline our manufacturing footprint and improve our profitability, we made the decision in the second quarter of 2023 to cease production of dialyzers at the Opelika facility near the end of 2023.
As a result of our decision to cease dialyzer production at this manufacturing facility, we performed a trigger-based recoverability assessment of its long-lived assets, which consist of a building and manufacturing equipment, including specialized equipment used in the production of dialyzers. The carrying amount of that asset group exceeded the estimated undiscounted cash flows expected to be generated, and we recognized an impairment charge of $243 million, classified within cost of sales in the accompanying condensed consolidated statements of loss, during the second quarter of 2023 to reduce the carrying amounts to their estimated fair values.
The fair values of the building and manufacturing equipment tested for impairment during the second quarter of 2023 were determined based on transaction prices of comparable assets. Significant assumptions used in the determination of the fair values included the identification of representative comparable assets. Our long-lived asset fair value measurements are classified as Level 3 in the fair value hierarchy because they involve significant unobservable inputs.
Interest Expense, Net
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2024202320242023
Interest expense, net of capitalized interest$104 $132 $207 $259 
Interest income(19)(8)(44)(18)
Interest expense, net$85 $124 $163 $241 
Other (Income) Expense, Net
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2024202320242023
Foreign exchange losses, net$— $22 $14 36 
Pension and other postretirement benefit plans(10)(11)(22)(21)
Change in fair value of marketable equity securities— 11 (4)6 
Non-marketable investment impairments— 23 — 23 
Other, net(10)(3)(15)(4)
Other (income) expense, net$(20)$42 $(27)$40 
Non-Cash Operating and Investing Activities
Right-of-use operating lease assets obtained in exchange for lease obligations for the six months ended June 30, 2024 and 2023 were $47 million and $45 million, respectively.
Purchases of property, plant and equipment included in accounts payable as of June 30, 2024 and 2023 were $52 million and $57 million, respectively.