v3.24.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
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)20232022
Finished goods$1,356 $1,162 
Work-in-process1,643 1,417 
Raw materials1,100 1,000 
Inventories$4,099 $3,579 
Schedule of property and equipment
Property and Equipment
as of December 31 (in millions)20232022
Land$286 $286 
Buildings2,827 2,737 
Equipment7,449 7,107 
Construction in progress1,073 856 
Property and equipment, gross11,635 10,986 
Less accumulated depreciation(6,646)(6,051)
Property and equipment, net$4,989 $4,935