Annual report pursuant to Section 13 and 15(d)

INCOME TAXES - Deferred Tax Assets and Liabilities (Details)

v3.22.4
INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Deferred tax assets:    
Property, plant and equipment $ 40 $ 36
Trademarks and other intangible assets 1,617 1,910
Equity method investments (including foreign currency translation adjustments) 366 595
Derivative financial instruments 207 215
Other liabilities 1,503 1,255
Benefit plans 522 670
Net operating/capital loss carryforwards 248 280
Other 530 377
Gross deferred tax assets 5,033 5,338
Valuation allowances (424) (401)
Total deferred tax assets 4,609 4,937
Deferred tax liabilities:    
Property, Plant and Equipment (741) (721)
Trademarks and Other Intangible Assets (1,843) (1,783)
Equity Method Investments (including net foreign currency translation adjustments) (1,632) (1,619)
Derivative financial instruments (488) (500)
Other Liabilities (372) (315)
Benefit Plans (490) (527)
Other (211) (164)
Total Deferred Tax Liabilities (5,777) (5,629)
Net Deferred Tax Assets (Liabilities) $ (1,168) $ (692)