Annual report pursuant to Section 13 and 15(d)

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Cash, Cash Equivalents and Investments
The following table provides a summary of cash, cash equivalents, restricted cash and restricted cash equivalents that constitute the total amounts shown in our consolidated statements of cash flows (in millions):
December 31, 2021 2020 2019
Cash and cash equivalents $ 9,684  $ 6,795  $ 6,480 
Restricted cash and restricted cash equivalents included in other noncurrent assets1,2
341  315  257 
Cash, cash equivalents, restricted cash and restricted cash equivalents $ 10,025  $ 7,110  $ 6,737 
1Amounts represent restricted cash and restricted cash equivalents in our solvency capital portfolio set aside primarily to cover pension obligations in certain of our European and Canadian pension plans. Refer to Note 4.
2As of December 31, 2021, restricted cash and restricted cash equivalents includes amounts related to assets held for sale. Refer to Note 2.
Inventories
Inventories consisted of the following (in millions):
December 31, 2021 2020
Raw materials and packaging $ 2,133  $ 2,106 
Finished goods 982  791 
Other 299  369 
Total inventories $ 3,414  $ 3,266 
Property, Plant and Equipment
The following table summarizes our property, plant and equipment (in millions):
December 31, 2021 2020
Land $ 652  $ 676 
Buildings and improvements 4,349  4,782 
Machinery and equipment 13,861  14,242 
Property, plant and equipment — cost 18,862  19,700 
Less: Accumulated depreciation 8,942  8,923 
Property, plant and equipment — net $ 9,920  $ 10,777