
	As of June 30, 2026		As of December 31, 2025
Accounts receivable – trade	$	1,228	$	1,031
Accounts receivable – other	172		164
Allowance for credit losses	(14)		(10)
Total accounts receivable, net	$	1,386	$	1,185

There were no significant contract assets or contract liabilities associated with our customers as of June 30, 2026 or December 31, 2025. Liabilities for volume discounts and incentives were also not significant as of June 30, 2026 or December 31, 2025.


	As of June 30, 2026		As of December 31, 2025
Finished and in process	$	738	$	753
Raw materials	286		389
Manufacturing supplies	85		85
Total inventories	$	1,109	$	1,227

On May 1, 2026, we committed to a plan to cease operations at our Cabo, Brazil facility as of June 30, 2026. In the quarter ended June 30, 2026, we incurred pre-tax charges of $43 million for the closure, of which $31 million was for impairment charges relating to fixed assets and $12 million was for inventory write-downs, severance payments, and other termination-related costs. For the six months ended June 30, 2026, we recorded pre-tax charges of $56 million for Restructuring/impairment charges, which included the previously mentioned $43 million for the closure of the Cabo, Brazil facility with the balance of costs related to the sale of the majority ownership of the Pakistan business and other non-recurring restructuring costs.

Under supply chain finance programs administered by third-party banks, our suppliers have the opportunity to sell receivables due from us to participating financing institutions and receive earlier payment at a discount. Our responsibility is limited to making payment on the terms originally negotiated with our supplier, regardless of whether such supplier sells its receivable to a financial institution. The payment terms we negotiate with a supplier are independent of whether such supplier participates in a supply chain finance program, and participation in any such program by a supplier has no effect on our income or cash flows.

As of June 30, 2026 and December 31, 2025, participating financial institutions held $134 million and $148 million of our liabilities recorded in Accounts payable and Accrued liabilities and liabilities held for sale on our Condensed Consolidated Balance Sheets. As of June 30, 2026, supply chain finance programs existed primarily for operations in Brazil, the U.S., Thailand, Mexico, China, Colombia, and Peru, and for operations of certain PureCircle entities.