v3.22.4
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
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)20222021
Finished goods$1,162 $932 
Work-in-process1,417 1,193 
Raw materials1,000 1,003 
Inventories$3,579 $3,128 
Schedule of property and equipment Property and Equipment
as of December 31 (in millions)20222021
Land$286 $287 
Buildings2,737 2,791 
Equipment7,107 6,850 
Construction in progress856 799 
Property and equipment, gross10,986 10,727 
Less accumulated depreciation(6,051)(5,617)
Property and equipment, net$4,935 $5,110