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Supplemental Balance Sheet Data | 6 Months Ended
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Jun. 30, 2024
Statement of Financial Position [Abstract] |
Additional Financial Information Disclosure | Supplemental Balance Sheet Data The following schedule presents a summary of inventories by major class:
|  | June 30, 2024 |  | December 31, 2023
|  | LIFO |  | Non-LIFO |  | Total |  | LIFO |  | Non-LIFO |  | Total
Raw materials |  | $ | 127 |  |  | $ | 269 |  |  | $ | 396 |  |  | $ | 121 |  |  | $ | 292 |  |  | $ | 413 |
Work in process |  | 118 |  |  | 82 |  |  | 200 |  |  | 116 |  |  | 95 |  |  | 211 |
Finished goods |  | 546 |  |  | 665 |  |  | 1,211 |  |  | 520 |  |  | 692 |  |  | 1,212 |
Supplies and other |  | — |  |  | 311 |  |  | 311 |  |  | — |  |  | 311 |  |  | 311 |
|  | 791 |  |  | 1,327 |  |  | 2,118 |  |  | 757 |  |  | 1,390 |  |  | 2,147 |
Excess of FIFO or weighted-average cost over LIFO cost |  | (203) |  |  | — |  |  | (203) |  |  | (192) |  |  | — |  |  | (192) |
Total |  | $ | 588 |  |  | $ | 1,327 |  |  | $ | 1,915 |  |  | $ | 565 |  |  | $ | 1,390 |  |  | $ | 1,955 |
Inventories are valued at the lower of cost or net realizable value, determined on the FIFO or weighted-average cost methods, and at the lower of cost or market, determined on the LIFO cost method. The following schedule presents a summary of property, plant and equipment, net:
| June 30, 2024 |  | December 31, 2023
Land | $ | 161 |  |  | $ | 149 |
Buildings | 3,023 |  |  | 3,067 |
Machinery and equipment | 15,011 |  |  | 15,132 |
Construction in progress | 785 |  |  | 803 |
| 18,980 |  |  | 19,151 |
Less accumulated depreciation | (11,360) |  |  | (11,238) |
Total | $ | 7,620 |  |  | $ | 7,913 |
Supplier Finance Program We have a supplier finance program managed through two global financial institutions under which we agree to pay the financial institutions the stated amount of confirmed invoices from our participating suppliers on the invoice due date. We, or the global financial institutions, may terminate our agreements at any time upon 30 days written notice. The global financial institutions may terminate our agreements at any time upon three days written notice in the event there are insufficient funds available for disbursement. We do not provide any forms of guarantees under these agreements. Supplier participation in the program is solely up to the supplier, and the participating suppliers negotiate their arrangements directly with the global financial institutions. We have no economic interest in a supplier’s decision to participate in the program, and their participation has no bearing on our payment terms or amounts due. The payment terms that we have with our suppliers under this program generally range from 75 to 180 days and are considered commercially reasonable. The outstanding amount related to the suppliers participating in this program was $1.0 billion of June 30, 2024 and December 31, 2023, and was recorded within Trade accounts payable.

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