FINANCING RECEIVABLES (Tables)

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Schedule of Receivables

Current Receivables
	As of
	June 30, 2023		December 31, 2022
Current customer receivables(a)	$	3,154	$	3,112
Non-income based tax receivables	196		174
Other sundry receivables	112		100
Sundry receivables	308		274
Allowance for credit losses	(92)		(91)
Total current receivables – net	$	3,370	$	3,295

(a) Chargebacks, which are primarily related to our PDx business, are generally settled through issuance of credits, typically within one month of initial recognition, and are recorded as a reduction to current customer receivables. Balances related to chargebacks were $140 million and $157 million as of June 30, 2023 and December 31, 2022, respectively. The decrease in chargebacks is primarily due to lower wholesaler product levels.

Long-Term Receivables
	As of
	June 30, 2023		December 31, 2022
Long-term customer receivables	$	67	$	80
Sundry receivables	76		57
Non-income based tax receivables	28		28
Supplier advances	11		11
Allowance for credit losses	(30)		(31)
Total long-term receivables – net(a)	$	152	$	145

(a) Long-term receivables are recognized within All other assets in the Condensed Consolidated and Combined Statements of Financial Position.

Financing Receivables
	As of
	June 30, 2023		December 31, 2022
Loans, net of deferred income	$	32	$	29
Investment in financing leases, net of deferred income	73		72
Allowance for credit losses	(4)		(4)
Current financing receivables – net(a)	101		97
Loans, net of deferred income	43		44
Investment in financing leases, net of deferred income	157		158
Allowance for credit losses	(5)		(6)
Non-current financing receivables – net(a)	$	195	$	196

(a) Current financing receivables and non-current financing receivables are recognized within All other current assets and All other assets, respectively, in the Condensed Consolidated and Combined Statements of Financial Position.