Annual report pursuant to Section 13 and 15(d)

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)

v3.24.0.1
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure Text Block [Abstract]  
Roll-forward of Allowance for Credit Losses
The following is a roll-forward of our allowance for credit losses associated with Accounts receivable, net:
(In millions) 2023 2022
Allowance for credit losses as of January 1 $ (4) $ (4)
Increase in allowance (1) — 
Allowance for credit losses as of December 31 $ (5) $ (4)
Schedule of Inventories
The following table presents the detail of our Inventories on the Statements of Consolidated Financial Position:
December 31,
(In millions) 2023 2022
Product inventories
Finished and semi-finished goods $ 2,573  $ 2,971 
Raw materials 1,476  1,794 
Total product inventories 4,049  4,765 
Manufacturing supplies and critical spares 411  365 
Inventories $ 4,460  $ 5,130 
Schedule of Cash Flow, Supplemental Disclosures
A reconciliation of capital additions to cash paid for capital expenditures is as follows:
Year Ended December 31,
(In millions) 2023 2022 2021
Capital additions $ 785  $ 1,033  $ 857 
Less:
Non-cash accruals (13) 35  102 
Equipment financed with seller 59  —  — 
Right-of-use assets - finance leases 93  55  50 
Cash paid for capital expenditures including deposits $ 646  $ 943  $ 705 
Additionally, included within Other investing activities on the Statements of Consolidated Cash Flows are grant reimbursements related to governmental funded capital projects. For the years ended December 31, 2023, 2022 and 2021, grant reimbursements were $13 million, $27 million and $2 million, respectively.
Cash payments (receipts) for interest and income taxes are as follows:
Year Ended December 31,
(In millions) 2023 2022 2021
Income taxes paid $ 94  $ 334  $ 166 
Income tax refunds (205) (3) (16)
Interest paid on debt obligations net of capitalized interest1
256  249  299 
1 Capitalized interest was $12 million, $9 million and $6 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Schedule of Noncash or Part Noncash Acquisitions
Other non-cash investing and financing activities are as follows:
Year Ended December 31,
(In millions) 2023 2022 2021
1.500% 2025 Convertible Senior Notes redemption $ —  $ 25  $ — 
Fair value of settlement of a pre-existing relationship as part of consideration in connection with FPT Acquisition —  —  (20)