ACCRUED AND OTHER CURRENT LIABILITIES

6 Months Ended

Jun. 30, 2023

Payables and Accruals [Abstract]

ACCRUED AND OTHER CURRENT LIABILITIES

ACCRUED AND OTHER CURRENT LIABILITIES

Accrued and other current liabilities consist of:

(in millions)	June 30, 2023		December 31, 2022
Employee compensation and benefit costs	$	191	$	196
Product rebates	145		153
Discounts and allowances	82		85
Professional fees	70		66
Product returns	63		59
Other	401		342
	$	952	$	901

Under the terms of a December 2019 agreement with Novaliq GmbH, the Company is required to make future payments related to the future sales associated with MIEBOTM (formerly known as NOV03). On May 18, 2023, the U.S. Food and Drug Administration (“FDA”) approved the New Drug Application (“NDA”) for MIEBOTM and the Company accrued the $45 million milestone payment, which is included within Other, in the table above, as of June 30, 2023.