v3.25.4
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
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)20252024
Finished goods$1,580 $1,173 
Work-in-process2,287 1,951 
Raw materials1,084 1,057 
Inventories$4,951 $4,181 
Schedule of property and equipment
Property and Equipment, Net
as of December 31 (in millions)20252024
Land$287 $284 
Buildings3,057 2,895 
Equipment8,785 7,995 
Construction in progress1,401 1,093 
Property and equipment, gross13,530 12,267 
Less accumulated depreciation(7,902)(7,133)
Property and equipment, net$5,628 $5,134