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Supplemental Data (Tables) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Supplemental Income Statement Data
Supplemental Income Statement Data
Year Ended December 31
202420232022
Advertising expense$1,184 $1,075 $901 
Research expense338 312 292 
 
Equity Companies' Data
Equity Companies' Data
Net
Sales
Gross
Profit
Operating
Profit
Net
Income
Corporation’s
Share of Net
Income
2024$3,180 $1,063 $727 $451 $216 
20233,135 1,003 683 410 196 
20222,690 707 438 240 116 
Current
Assets
Non-Current
Assets
Current
Liabilities
Non-Current
Liabilities
Stockholders’
Equity
2024$1,536 $1,135 $1,050 $1,177 $444 
20231,974 1,362 1,175 1,687 474 
20221,585 1,303 814 1,751 323 
 
Summary of Inventories by Major Class
December 31
20242023
Summary of Inventories by Major ClassLIFONon-LIFOTotalLIFONon-LIFOTotal
Raw materials$122 $261 $383 $121 $292 $413 
Work in process116 74 190 116 95 211 
Finished goods510 631 1,141 520 692 1,212 
Supplies and other 308 308 — 311 311 
748 1,274 2,022 757 1,390 2,147 
Excess of FIFO or weighted-average cost over LIFO cost(200) (200)(192)— (192)
Total$548 $1,274 $1,822 $565 $1,390 $1,955 
 
Summary of Other Current Assets $ 728 $ 520
Property, Plant and Equipment
December 31
Summary of Property, Plant and Equipment, Net20242023
Land$157 $149 
Buildings2,901 3,067 
Machinery and equipment15,020 15,132 
Construction in progress854 803 
18,932 19,151 
Less accumulated depreciation(11,419)(11,238)
Total$7,513 $7,913 
 
Schedule of Accrued Liabilities
December 31
Summary of Accrued Expenses and Other Current Liabilities20242023
Accrued advertising and promotion$540 $524 
Accrued salaries and wages462 518 
Accrued rebates245 268 
Accrued taxes - income and other288 294 
Operating leases131 130 
2024 Transformation Initiative liabilities130 — 
Accrued interest99 88 
Derivative liabilities82 139 
Other342 355 
Total$2,319 $2,316 
 
Summary of Cash Flow Effects of Operating Working Capital
Supplemental Cash Flow Statement Data
Summary of Cash Flow Effects of Operating Working CapitalYear Ended December 31
202420232022
Accounts receivable$48 $127 $(151)
Inventories10 290 (76)
Trade accounts payable179 (109)109 
Accrued expenses106 125 92 
Accrued income taxes(110)122 20 
Derivatives79 (15)
Currency and other(134)42 (20)
Total$178 $582 $(17)
 
Supplemental Cash Flow Data
Year Ended December 31
Other Cash Flow Data202420232022
Interest paid$268 $277 $270 
Income taxes paid587 648 468 
 
Supplier Finance Program
The rollforward of the Company's outstanding obligations confirmed as valid under its supplier finance program for the year ended December 31, 2024, are as follows:
2024
Confirmed obligations outstanding at the beginning of the year$960 
Invoices confirmed during the year3,033 
Confirmed invoices paid during the year(2,989)
Confirmed obligations outstanding at the end of the year$1,004 
 
Accounts Receivable, Net    
Supplemental Balance Sheet Data
December 31
Summary of Accounts Receivable, Net20242023
From customers$1,908 $2,063 
Other154 150 
Less allowance for doubtful accounts and sales discounts(53)(78)
Total$2,009 $2,135