|
NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION
Allowance for Credit Losses
The following is a roll-forward of our allowance for credit losses associated with Accounts receivable, net:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Millions) |
|
2022 |
|
2021 |
| Allowance for credit losses as of January 1 |
$ |
(4) |
|
|
$ |
(5) |
|
| Increase in allowance |
—Ìý
|
|
|
(1) |
|
| Allowance for credit losses as of March 31 |
$ |
(4) |
|
|
$ |
(6) |
|
Inventories
The following table presents the detail of our Inventories in the Statements of Unaudited Condensed Consolidated Financial Position:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Millions) |
|
March 31,
2022 |
|
December 31,
2021 |
| Product inventories |
|
|
|
| Finished and semi-finished goods |
$ |
2,943Ìý
|
|
|
$ |
2,814Ìý |
|
| Raw materials |
2,312Ìý
|
|
|
2,070Ìý |
|
| Total product inventories |
5,255Ìý
|
|
|
4,884Ìý |
|
| Manufacturing supplies and critical spares |
307Ìý
|
|
|
304Ìý |
|
| Inventories |
$ |
5,562Ìý
|
|
|
$ |
5,188Ìý |
|
Cash Flow Information
A reconciliation of capital additions to cash paid for capital expenditures is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Millions) |
|
Three Months Ended
March 31, |
|
2022 |
|
2021 |
| Capital additions |
$ |
181Ìý
|
|
|
$ |
162Ìý |
|
| Less: |
|
|
|
| Non-cash accruals |
(55) |
|
|
23Ìý |
|
| Right-of-use assets - finance leases |
—Ìý
|
|
|
3Ìý |
|
|
|
|
|
| Cash paid for capital expenditures including deposits |
$ |
236Ìý
|
|
|
$ |
136Ìý |
|
Cash payments (receipts) for income taxes and interest are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Millions) |
|
Three Months Ended
March 31, |
|
2022 |
|
2021 |
| Taxes paid on income |
$ |
1Ìý
|
|
|
$ |
3Ìý |
|
| Income tax refunds |
(1) |
|
|
(14) |
|
Interest paid on debt obligations net of capitalized interest1
|
65Ìý
|
|
|
75Ìý |
|
|
|
|
|
1 Capitalized interest was $2 million and $1 million for the three months ended MarchÌý31, 2022 and 2021, respectively.
|
|