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, 2024
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, 2024 2023 2022
Cash and cash equivalents $ 10,828  $ 9,366  $ 9,519 
Restricted cash and restricted cash equivalents1,2
 660  326  306 
Cash, cash equivalents, restricted cash and restricted cash equivalents $ 11,488  $ 9,692  $ 9,825 
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, 2024 2023
Raw materials and packaging $ 2,794  $ 2,618 
Finished goods 1,524  1,449 
Other 410  357 
Total inventories $ 4,728  $ 4,424 
Property, Plant and Equipment
The following table summarizes our property, plant and equipment (in millions):
December 31, 2024 2023
Land $ 226  $ 229 
Buildings and improvements 5,143  4,647 
Machinery and equipment 14,504  13,593 
Property, plant and equipment — cost 19,873  18,469 
Less: Accumulated depreciation 9,570  9,233 
Property, plant and equipment — net $ 10,303  $ 9,236