SUPPLEMENTAL FINANCIAL STATEMENT DATA | | | | | | | | | | | | | | | | | | | Consolidated Statement of Income (Loss) (millions) | 2024 | | 2023 | | 2022 | | Research and development expense | $ | 24 | | | $ | 25 | | | $ | 25 | | | Advertising expense | $ | 210 | | | $ | 206 | | | $ | 178 | |
| | | | | | | | | | | | | Consolidated Balance Sheet (millions) | 2024
(Restated) | | 2023 | | Trade receivables | $ | 169 | | | $ | 225 | | | Allowance for expected credit losses | (1) | | | — | | | | | | | Other receivables | 31 | | | 19 | | | Accounts receivable, net | $ | 199 | | | $ | 244 | | | Raw Materials | 49 | | | 49 | | | Manufacturing Supplies | 53 | | | 53 | | | Materials in process | 22 | | | 15 | | | Finished goods | 243 | | | 231 | | | Inventories | $ | 367 | | | $ | 348 | | | Land | 14 | | | 14 | | | Buildings | 699 | | | 679 | | | Machinery and equipment | 1,807 | | | 1,799 | | | | | | | Construction in progress | 234 | | | 184 | | | Accumulated depreciation | (1,968) | | | (1,937) | | | Property, net | $ | 786 | | | $ | 739 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other third party | 520 | | | 502 | | Kellanova (a) | — | | | 39 | | | Accounts Payable | $ | 520 | | | $ | 541 | | | Obligations under Transition Services Agreement | 8 | | | 52 | | | Operating lease obligations | 18 | | | 6 | | | Income taxes payable | 17 | | | 8 | | | Other | 54 | | | 40 | | | Other current liabilities | $ | 97 | | | $ | 106 | | | | | | | | | | | | | | | | | | | | | | | | | |
(a)The $39 million payable to Kellanova represents various items Kellanova paid on our behalf, for which we owe reimbursement for amounts incurred related to the Spin-Off.
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