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REVENUE RECOGNITION (Tables)
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Summary of variable consideration provisions
The following tables present the activity and ending balances of the Company’s variable consideration provisions for the six months ended June 30, 2023 and 2022:
Six Months Ended June 30, 2023
(in millions)
Discounts
and
Allowances
ReturnsRebatesChargebacks
Distribution
Fees
Total
Reserve balance, January 1, 2023$146 $59 $188 $73 $18 $484 
Current period provision180 36 280 268 11 775 
Payments and credits(195)(32)(274)(279)(4)(784)
Reserve balance, June 30, 2023
$131 $63 $194 $62 $25 $475 
Included in Rebates in the table above are cooperative advertising credits due to customers of approximately $49 million and $35 million as of June 30, 2023 and January 1, 2023, respectively, which are reflected as a reduction of Trade receivables, net in the Condensed Consolidated Balance Sheets.
Six Months Ended June 30, 2022
(in millions)
Discounts
and
Allowances
ReturnsRebatesChargebacks
Distribution
Fees
Total
Reserve balance, January 1, 2022$167 $60 $195 $29 $17 $468 
Current period provision160 35 270 211 11 687 
Payments and credits(169)(37)(241)(151)— (598)
Reserve balance, June 30, 2022
$158 $58 $224 $89 $28 $557 
Summary of activity in allowance for credit losses
The activity in the allowance for credit losses for trade receivables for the six months ended June 30, 2023 and 2022 is as follows:
Six Months Ended June 30,
(in millions)20232022
Balance, beginning of period$22 $16 
Provision2 1 
Write-offs(1)(1)
Foreign exchange and other(1)2 
Balance, end of period$22 $18