Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2022
Restructuring and Related Activities [Abstract]  
Restructuring, Impairment, and Other Activities Disclosure
On March 17, 2022, the Board of Directors (the Board) decided to indefinitely suspend our operations in Russia due to the ongoing conflict in Ukraine. At the time of suspension, our Russian operations included a wholly-owned distributor in Russia, an unconsolidated joint venture and direct sales into Russia from our other business units. As a result of the suspension of operations, we evaluated the recoverability of assets in Russia and assessed other liabilities that may have been incurred. We have experienced and expect to continue to experience, an inability to collect customer receivables and may be the subject of litigation in connection with our suspension of commercial operations in Russia. We will continue to evaluate the situation as conditions evolve and may take additional actions as deemed necessary in future periods. The following summarizes the costs associated with the suspension of our Russian operations in our first quarter results on our Condensed Consolidated Statements of Net Income:
In millions March 31,
Statement of Net Income Location
Inventory write-downs $ 59  Cost of sales
Accounts receivable reserves 43  Other operating expense, net
Impairment and other joint venture costs 31  Equity, royalty and interest income from investees
Other 25  Other operating expense, net
Total $ 158