XML 38 R28.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Nature of Operations and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Reconciliation of Cash
Cash, cash equivalents and restricted cash reported in the Company’s balance sheet as of June 30, 2024, December 31, 2023, June 30, 2023 and December 31, 2022 were as follows:
(DOLLARS IN MILLIONS)June 30, 2024December 31, 2023June 30, 2023December 31, 2022
Current assets
Cash and cash equivalents$671 $703 $638 $483 
Cash and cash equivalents included in Assets held for sale3 26 3 52 
Restricted cash— 6 11 10 
Non-current assets
Restricted cash included in Other assets— — — 7 
Cash, cash equivalents and restricted cash$674 $735 $652 $552 
Schedule of Bad Debt Reserve
The following is a roll-forward of the Company’s allowances for bad debts for the six months ended June 30, 2024 and 2023.
Six Months Ended June 30,
(DOLLARS IN MILLIONS)20242023
Balance at January 1$52 $53 
Bad debt expense (reversals)(9)8
Write-offs(15)— 
Foreign exchange (gains) losses(1)2
Balance at June 30$27 $63 
Schedule of Inventory, Current The Company’s inventories consisted of the following:
(DOLLARS IN MILLIONS)June 30, 2024December 31, 2023
Raw materials$708 $779 
Work in process381 406 
Finished goods1,071 1,292 
Total$2,160 $2,477