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Financial Instruments - Fair Value of Contingent Consideration Liability (Details) - USD ($) $ in Millions | Dec. 31, 2024 | Dec. 31, 2023 | Aug. 01, 2022
--- | --- | --- | ---
Derivative [Line Items] |  |  |  |
Total contingent consideration |  | $ 179 | $ 680 |
Contingent consideration, current liabilities |  |  | 132 |
Contingent consideration, long term liabilities |  | 55 |  |
Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration |  | 0 | 0 |
Significant Other Observable Inputs (Level 2) |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration |  | 0 | 0 |
Significant Unobservable Inputs (Level 3) |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration |  | 179 | 680 |
Clif Bar |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration | [1] | 124 | 548 |
Contingent consideration, long term liabilities |  |  |  | $ 440
Clif Bar | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration | [1] | 0 | 0 |
Clif Bar | Significant Other Observable Inputs (Level 2) |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration | [1] | 0 | 0 |
Clif Bar | Significant Unobservable Inputs (Level 3) |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration | [1] | 124 | 548 |
Other |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration | [2] | 55 | 132 |
Other | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration | [2] | 0 | 0 |
Other | Significant Other Observable Inputs (Level 2) |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration | [2] | 0 | 0 |
Other | Significant Unobservable Inputs (Level 3) |  |  |  |
Derivative [Line Items] |  |  |  |
Total contingent consideration | [2] | $ 55 | $ 132 |
[1] | In connection with the Clif Bar acquisition, we entered into a contingent consideration arrangement that may require us to pay additional consideration to the sellers for achieving certain net revenue, gross profit and EBITDA targets in 2025 and 2026 that exceed our base financial projections for the business implied in the upfront purchase price. The possible payments range from zero to a maximum total of $2.4 billion, with higher payouts requiring the achievement of targets that generate rates of returns in excess of the base financial projections. The contingent consideration liabilities are recorded at fair value within long-term liabilities. The estimated fair value of the contingent consideration obligation is determined using a Monte Carlo simulation. Significant assumptions used in assessing the fair value of the liability include financial projections for net revenue, gross profit, and EBITDA, as well as discount and volatility rates. Fair value adjustments are primarily recorded in selling, general and administrative expenses in the condensed consolidated statement of earnings. During 2024, the expected forecast for 2025 and 2026 was updated to reflect recent trends in business performance and market outlook, resulting in a reduction in the fair value of the contingent consideration.
[2] | ther contingent consideration liabilities are recorded at fair value, with $55 million classified as long-term liabilities at December 31, 2024 and $132 million classified as other current liabilities at December 31, 2023. Fair value adjustments are recorded in selling, general and administrative expenses in the condensed consolidated statement of earnings.

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