XML 28 R14.htm IDEA: XBRL DOCUMENT v3.24.0.1
RECEIVABLES
12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
RECEIVABLES RECEIVABLES
Current Receivables
As of
December 31, 2023December 31, 2022
Current customer receivables(1)
$3,339 $3,112 
Non-income based tax receivables166 174 
Other sundry receivables118 100 
Sundry receivables284 274 
Allowance for credit losses(98)(91)
Total current receivables – net$3,525 $3,295 
(1) 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 $144 million and $157 million as of December 31, 2023 and 2022, respectively.

Activity in the allowance for credit losses related to current receivables for the years ended December 31, 2023, 2022, and 2021 consisted of the following:

Balance at December 31, 2020
$93 
Additions charged to costs and expenses12 
Write-offs(10)
Foreign currency exchange and other12 
Balance at December 31, 2021
107 
Additions charged to costs and expenses
Write-offs(13)
Foreign currency exchange and other(5)
Balance at December 31, 2022
91 
Additions charged to costs and expenses16 
Write-offs(11)
Foreign currency exchange and other
Balance at December 31, 2023
$98 
Long-Term Receivables
As of
December 31, 2023December 31, 2022
Long-term customer receivables$55 $80 
Sundry receivables73 68 
Non-income based tax receivables26 28 
Allowance for credit losses(1)
(30)(31)
Total long-term receivables – net(2)
$124 $145 
(1) Write-offs of long-term receivables were not material for the years ended December 31, 2023 and 2022.
(2) Long-term receivables are recognized within All other assets in the Consolidated and Combined Statements of Financial Position.