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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

Earnings/(losses) from continuing operations before income taxes and the provision for income taxes consisted of:

			For the Years Ended December 31,
			2023						2022						2021
			(in millions)
Earnings/(losses) from continuing operations before income taxes:
United States			$	1,500					$	463					$	519
Outside United States			4,380						2,765						3,850
			$	5,880					$	3,228					$	4,369
Provision for income taxes:
United States federal:
Current			$	667					$	187					$	297
Deferred			(167)						(17)						(31)
			500						170						266
State and local:
Current			123						78						89
Deferred			(50)						2						9
			73						80						98
Total United States			573						250						364
Outside United States:
Current			784						642						599
Deferred			180						(27)						227
Total outside United States			964						615						826
Total provision for income taxes			$	1,537					$	865					$	1,190

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate on pre-tax earnings differed from the U.S. federal statutory rate as follows:

			For the Years Ended December 31,
			2023						2022						2021
U.S. federal statutory rate			21.0%						21.0%						21.0%
Increase/(decrease) resulting from:
State and local income taxes, net of federal tax benefit			(0.1)%						1.6%						1.1%
Foreign rate differences			2.0%						2.0%						(1.6)%
Changes in judgment on realizability of deferred tax assets			(0.1)%						(1.1)%						0.1%
Reversal of other tax accruals no longer required			(0.2)%						(1.4)%						(0.5)%
Tax accrual on investment in KDP (including tax impact of share sales)			2.8%						0.5%						4.7%
Excess tax benefits from equity compensation			(0.4)%						(0.8)%						(0.7)%
Tax legislation			1.4%						0.5%						2.3%
Business sales			(0.5)%						0.1%						—%
Foreign tax provisions under TCJA (GILTI, FDII and BEAT) (1)			0.6%						0.1%						0.8%
Tax impacts from the European Commission legal matter			(0.4)%						2.1%						—%
Non-deductible expenses and other, including buyout of Clif Bar ESOP			—%						2.2%						—%
Effective tax rate			26.1%						26.8%						27.2%

(1)The Tax Cuts and Jobs Act of 2017 (“TCJA”) established the Global Intangible Low-Tax Income (“GILTI”) provision, which taxes U.S. allocated expenses and certain income from foreign operations; the Foreign-Derived Intangible Income (“FDII”) provision, which allows a deduction against certain types of U.S. taxable income resulting in a lower effective U.S. tax rate on such income; and the Base Erosion Anti-abuse Tax (“BEAT”), which is a minimum tax based on cross-border service payments by U.S. entities.

Schedule of Deferred Tax Assets and Liabilities Temporary Differences

Tax effects of temporary differences that gave rise to deferred income tax assets and liabilities consisted of:

			As of December 31,
			2023						2022
			(in millions)
Deferred income tax assets:
Accrued postretirement and postemployment benefits			$	45					$	83
Other employee benefits			155						156
Accrued expenses			632						649
Loss carryforwards			701						664
Tax credit carryforwards			803						786
Other			589						481
Total deferred income tax assets			2,925						2,819
Valuation allowance			(1,359)						(1,257)
Net deferred income tax assets			$	1,566					$	1,562
Deferred income tax liabilities:
Intangible assets, including impact from Swiss tax reform			$	(3,094)					$	(3,279)
Property, plant and equipment			(770)						(708)
Accrued pension costs			(62)						(57)
Other			(524)						(482)
Total deferred income tax liabilities			(4,450)						(4,526)
Net deferred income tax liabilities			$	(2,884)					$	(2,964)

Schedule of Changes in Unrecognized Tax Benefit

The changes in our unrecognized tax benefits were:

			For the Years Ended December 31,
			2023						2022						2021
			(in millions)
January 1			$	424					$	446					$	442
Increases from positions taken during prior periods			33						16						31
Decreases from positions taken during prior periods			(35)						(9)						(21)
Increases from positions taken during the current period			55						48						47
Decreases relating to settlements with taxing authorities			(11)						(54)						(13)
Reductions resulting from the lapse of the applicable    statute of limitations			(29)						(22)						(26)
Currency/other			5						(1)						(14)
December 31			$	442					$	424					$	446

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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