Prepaid expenses and other current assets consisted of the following amounts:


(DOLLARS IN MILLIONS)	March 31, 2026		December 31, 2025
Value-added tax receivable	$	133	$	131
Prepaid income taxes	222		212
Packaging materials and supplies	120		119
Prepaid expenses	154		170

Earnout and other post-closing adjustments receivable(1)	46		139
Other	120		106
Total	$	795	$	877

(1)During the three months ended March 31, 2026, in connection with the divestiture of the Pharma Solutions disposal group, the Company collected net proceeds of $93 million related to an earnout based on 2024 results offset by an immaterial payment related to post closing adjustments.


(DOLLARS IN MILLIONS)	March 31, 2026		December 31, 2025
Deferred income taxes	$	298	$	285
Overfunded pension plans	180		177
Cash surrender value of life insurance contracts	56		57
Finance lease right-of-use assets	32		32
Equity method investments	15		15

Long-term income tax receivables(1)	218		215
Other(2)	252		244
Total	$	1,051	$	1,025

_______________________

(1)Primarily relates to long-term tax receivables due to an operating loss carryback and long-term uncertain tax benefits.

(2)Primarily relates to land usage rights in China, long-term value-added tax receivables, and receivables from certain government authorities which the Company has corresponding payables to DuPont in relation to the N&B merger in 2021.


(DOLLARS IN MILLIONS)	March 31, 2026		December 31, 2025
Rebates and incentives payable	$	88	$	103
Value-added tax payable	39		30
Interest payable	41		27
Current pension and other postretirement benefit obligation	14		13


Accrued restructuring	23		36
Current operating lease obligation	94		92




Accrued income taxes	153		180

Accrued expenses payable	261		283
Other	168		155
Total	$	881	$	919