Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2023
Restructuring and Related Activities [Abstract]  
Restructuring, Impairment, and Other Activities Disclosure
On March 17, 2022, the Board indefinitely suspended 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 with KAMAZ (a Russian truck manufacturer) and direct sales into Russia from our other business segments. As a result of the suspension of operations, we evaluated the recoverability of assets in Russia and assessed other potential liabilities. We experienced and expect to continue to experience an inability to collect customer receivables and may be the subject of litigation as a consequence of our suspension of commercial operations in Russia. The following summarizes the costs associated with the suspension of our Russian operations in our Condensed Consolidated Statements of Net Income:
Three months ended
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   
For the three month ended March 31, 2023, there were no material additional costs. We will continue to evaluate the situation as conditions evolve and may take additional actions as deemed necessary in future periods.