v3.20.4
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Schedule of inventories
Inventories are valued at the lower of cost (first-in, first-out basis) or market. Cost includes material and conversion costs. Inventories consisted of the following:
as of December 31 (in millions)20202019
Finished goods$1,318 $485 
Work-in-process1,201 942 
Raw materials791 386 
Inventories$3,310 $1,813 
Schedule of property and equipment
Property and Equipment
as of December 31 (in millions)20202019
Land$288 $72 
Buildings2,555 1,613 
Equipment6,976 6,012 
Construction in progress1,040 491 
Property and equipment, gross10,859 8,188 
Less accumulated depreciation(5,611)(5,226)
Property and equipment, net$5,248 $2,962