v3.25.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
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)20242023
Finished goods$1,173 $1,356 
Work-in-process1,951 1,643 
Raw materials1,057 1,100 
Inventories$4,181 $4,099 
Schedule of property and equipment
Property and Equipment, Net
as of December 31 (in millions)20242023
Land$284 $286 
Buildings2,895 2,827 
Equipment7,995 7,449 
Construction in progress1,093 1,073 
Property and equipment, gross12,267 11,635 
Less accumulated depreciation(7,133)(6,646)
Property and equipment, net$5,134 $4,989