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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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| Increase in allowance |
(1) |
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|
—Ìý |
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| Allowance for credit losses as of September 30 |
$ |
(5) |
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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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September 30,
2022 |
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December 31,
2021 |
| Product inventories |
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| Finished and semi-finished goods |
$ |
3,084Ìý
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$ |
2,814Ìý |
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| Raw materials |
2,111Ìý
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|
2,070Ìý |
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| Total product inventories |
5,195Ìý
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|
4,884Ìý |
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| Manufacturing supplies and critical spares |
347Ìý
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|
304Ìý |
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| Inventories |
$ |
5,542Ìý
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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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Nine Months Ended
September 30, |
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2022 |
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2021 |
| Capital additions |
$ |
736Ìý
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$ |
572Ìý |
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| Less: |
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| Non-cash accruals |
(10) |
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|
64Ìý |
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| Right-of-use assets - finance leases |
30Ìý
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35Ìý |
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| Cash paid for capital expenditures including deposits |
$ |
716Ìý
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$ |
473Ìý |
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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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Nine Months Ended
September 30, |
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2022 |
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2021 |
| Taxes paid on income |
$ |
306Ìý
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$ |
38Ìý |
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| Income tax refunds |
(3) |
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(15) |
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Interest paid on debt obligations net of capitalized interest1
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201Ìý
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231Ìý |
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1 Capitalized interest was $7 million and $4 million for the nine months ended SeptemberÌý30, 2022 and 2021, respectively.
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