NET CHANGE IN OPERATING ASSETS AND LIABILITIES (Tables)
|12 Months Ended|
Dec. 31, 2021
|Increase (Decrease) in Operating Capital [Abstract]|
|Net change in operating assets and liabilities||
Net cash provided by (used in) operating activities attributable to the net change in operating assets and liabilities was composed of the following (in millions):
1The increase in trade accounts receivable in 2021 was primarily due to improved business performance. The decrease in trade accounts receivable in 2020 was primarily due to the impact of the COVID-19 pandemic and the start of a trade accounts receivable factoring program. Refer to Note 1 for additional information on the factoring program.
2The increase in accounts payable and accrued expenses in 2021 was primarily driven by an increase in trade accounts payable, higher marketing accruals, BodyArmor acquisition-related accruals and higher annual incentive accruals. The decrease in accounts payable and accrued expenses in 2020 was primarily driven by the impact of the COVID-19 pandemic and lower annual incentive accruals. Refer to Note 2 for information regarding the BodyArmor acquisition.
3The decrease in accrued income taxes in 2021 was primarily driven by increased tax payments in 2021. Refer to Note 14.4The increase in other noncurrent liabilities in 2020 was primarily due to the increase in income tax reserves related to the litigation with the IRS. Refer to Note 11
Tabular disclosure of the net increase (decrease) in operating capital in the operating section of the statement of cash flows, represents the entire footnote disclosure that provides details regarding the net change during the reporting period of all assets and liabilities used in operating activities.
No definition available.