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, 2023
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, 2023 2022 2021
Cash and cash equivalents $ 9,366  $ 9,519  $ 9,684 
Restricted cash and restricted cash equivalents1,2
 326  306  341 
Cash, cash equivalents, restricted cash and restricted cash equivalents $ 9,692  $ 9,825  $ 10,025 
1Amounts include cash and cash equivalents in our solvency capital portfolio, which are included in the line item other noncurrent assets in our consolidated balance sheets. Refer to Note 4.
2Amounts include cash and cash equivalents related to assets held for sale, which are included in the line item prepaid expenses and other current assets in our consolidated balance sheets. Refer to Note 2.
Inventories
Inventories consisted of the following (in millions):
December 31, 2023 2022
Raw materials and packaging $ 2,618  $ 2,627 
Finished goods 1,449  1,247 
Other 357  359 
Total inventories $ 4,424  $ 4,233 
Property, Plant and Equipment
The following table summarizes our property, plant and equipment (in millions):
December 31, 2023 2022
Land $ 229  $ 611 
Buildings and improvements 4,647  4,434 
Machinery and equipment 13,593  14,030 
Property, plant and equipment — cost 18,469  19,075 
Less: Accumulated depreciation 9,233  9,234 
Property, plant and equipment — net $ 9,236  $ 9,841