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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:
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(In Millions) |
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2022 |
|
2021 |
| Allowance for credit losses as of January 1 |
$ |
(4) |
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$ |
(5) |
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| Decrease in allowance |
1Ìý
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|
—Ìý |
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| Allowance for credit losses as of June 30 |
$ |
(3) |
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|
$ |
(5) |
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Inventories
The following table presents the detail of our Inventories in the Statements of Unaudited Condensed Consolidated Financial Position:
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(In Millions) |
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June 30,
2022 |
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December 31,
2021 |
| Product inventories |
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| Finished and semi-finished goods |
$ |
3,081Ìý
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|
$ |
2,814Ìý |
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| Raw materials |
2,370Ìý
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|
2,070Ìý |
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| Total product inventories |
5,451Ìý
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|
4,884Ìý |
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| Manufacturing supplies and critical spares |
333Ìý
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|
304Ìý |
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| Inventories |
$ |
5,784Ìý
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$ |
5,188Ìý |
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Cash Flow Information
A reconciliation of capital additions to cash paid for capital expenditures is as follows:
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(In Millions) |
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Six Months Ended
June 30, |
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2022 |
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2021 |
| Capital additions |
$ |
489Ìý
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$ |
329Ìý |
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| Less: |
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| Non-cash accruals |
(2) |
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|
16Ìý |
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| Right-of-use assets - finance leases |
23Ìý
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15Ìý |
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| Cash paid for capital expenditures including deposits |
$ |
468Ìý
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$ |
298Ìý |
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Cash payments (receipts) for income taxes and interest are as follows:
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(In Millions) |
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Six Months Ended
June 30, |
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2022 |
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2021 |
| Taxes paid on income |
$ |
299Ìý
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$ |
8Ìý |
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| Income tax refunds |
(1) |
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(15) |
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Interest paid on debt obligations net of capitalized interest1
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133Ìý
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148Ìý |
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1 Capitalized interest was $5 million and $3 million for the six months ended JuneÌý30, 2022 and 2021, respectively.
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