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As of December 31, 2020 and 2019, accrued liabilities and other current liabilities consisted of the following (in millions):
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December 31, |
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December 31, |
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2020 |
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2019 |
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Accrued purchases (1) |
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$ |
901 |
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$ |
638 |
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Taxes payable (2) |
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|
777 |
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|
611 |
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Payroll and related costs |
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|
654 |
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|
466 |
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Accrued warranty reserve, current portion |
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|
479 |
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|
344 |
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Sales return reserve, current portion |
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|
417 |
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|
272 |
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Operating lease liabilities, current portion |
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|
286 |
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|
228 |
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Accrued interest |
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|
77 |
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|
86 |
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Resale value guarantees, current portion |
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|
23 |
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|
317 |
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Other current liabilities |
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241 |
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|
260 |
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Total |
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$ |
3,855 |
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$ |
3,222 |
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(1) |
Accrued purchases primarily reflects receipts of goods and services that we had not been invoiced yet. As we are invoiced for these goods and services, this balance will reduce and accounts payable will increase. |
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(2) |
Taxes payable includes value added tax, sales tax, property tax, use tax and income tax payables. |
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