Cash and cash equivalents and short term investments, period increase (decrease)

  
4.  Cash and Cash Equivalents and Short-Term InvestmentsCash and cash equivalents include cash balances and all highly liquid instruments with initial maturities of three months or less. Short-term investments consist of money market funds. The estimated fair value of Cash and cash equivalents and Short-term investments approximates their carrying values.At September 30, 2022, Cash and cash equivalents and Short-term investments were $943 million compared to $836 million at December 31, 2021, an increase of $107 million. Of the total balances, $144 million and $160 million were restricted as to their use at September 30, 2022 and December 31, 2021, respectively. Included within Short-term investments as of September 30, 2022 and December 31, 2021, were £91.4 million ($97.7 million at September 30, 2022 exchange rates) and £84.3 million ($112.8 million at December 31, 2021 exchange rates), respectively, of operating funds required to be held by the Company in the U.K. by the FCA, a U.K.-based regulator.5.  Other Financial DataCondensed Consolidated Statements of Income InformationOther Income (Expense)Other income (expense) consists of the following (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2022 |  | 2021 |  | 2022 |  | 2021 |
| Foreign currency remeasurement | $ | 40  |  |  | $ | 20  |  |  | $ | 39  |  |  | $ | 11  |  |
| Gain from sales of businesses | 6  |  |  | 1  |  |  | 53  |  |  | 2  |  |
| Equity earnings | 2  |  |  | 3  |  |  | 6  |  |  | 7  |  |
| Pension and other postretirement | (3) |  |  | 5  |  |  | (9) |  |  | 19  |  |
| Financial instruments and other | (29) |  |  | (19) |  |  | (18) |  |  | (32) |  |
|  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |
| Total | $ | 16  |  |  | $ | 10  |  |  | $ | 71  |  |  | $ | 7  |  |

Condensed Consolidated Statements of Financial Position InformationAllowance for Doubtful AccountsChanges in the net carrying amount of allowance for doubtful accounts are as follows (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2022 |  | 2021 |  | 2022 |  | 2021 |
| Balance at beginning of period | $ | 91  |  |  | $ | 102  |  |  | $ | 90  |  |  | $ | 98  |  |
| Provision | 2  |  |  | 3  |  |  | 12  |  |  | 30  |  |
| Accounts written off, net of recoveries | 1  |  |  | (8) |  |  | (11) |  |  | (31) |  |
| Foreign currency translation and other | (12) |  |  | 1  |  |  | (9) |  |  | 1  |  |
| Balance at end of period | $ | 82  |  |  | $ | 98  |  |  | $ | 82  |  |  | $ | 98  |  |

Other Current AssetsThe components of Other current assets are as follows (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
| As of | September 30,2022 |  | December 31,2021 |
| Costs to fulfill contracts with customers (1) | $ | 256  |  |  | $ | 361  |  |
| Prepaid expenses | 123  |  |  | 137  |  |
| Taxes receivable | 64  |  |  | 53  |  |
|  |  |  |  |
| Other | 120  |  |  | 165  |  |
| Total | $ | 563  |  |  | $ | 716  |  |

(1)Refer to Note 3 “Revenue from Contracts with Customers” for further information.14
