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SUPPLEMENTAL BALANCE SHEET INFORMATION | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
SUPPLEMENTAL BALANCE SHEET INFORMATION | SUPPLEMENTAL BALANCE SHEET INFORMATION The components of certain asset accounts included within our Consolidated Balance Sheets are as follows:
|  | June 30, 2024 |  | December 31, 2023 |
Inventories: |  |  |  |  |
Raw materials |  | $ | 549,310 |  |  | $ | 481,111 |  |
Goods in process |  | 282,489 |  |  | 192,232 |  |
Finished goods |  | 1,062,664 |  |  | 948,974 |  |
Inventories at First In First Out |  | 1,894,463 |  |  | 1,622,317 |  |
Adjustment to Last In First Out |  | (434,975) |  |  | (281,321) |  |
Total inventories |  | $ | 1,459,488 |  |  | $ | 1,340,996 |  |
Prepaid expenses and other: |  |  |  |  |
Prepaid expenses |  | $ | 165,608 |  |  | $ | 227,567 |  |
Other current assets |  | 397,033 |  |  | 118,021 |  |
Total prepaid expenses and other |  | $ | 562,641 |  |  | $ | 345,588 |  |
Property, plant and equipment: |  |  |  |  |
Land |  | $ | 179,988 |  |  | $ | 180,751 |  |
Buildings |  | 1,780,525 |  |  | 1,763,070 |  |
Machinery and equipment |  | 3,970,754 |  |  | 3,861,006 |  |
Construction in progress |  | 678,229 |  |  | 644,244 |  |
Property, plant and equipment, gross |  | 6,609,496 |  |  | 6,449,071 |  |
Accumulated depreciation |  | (3,241,174) |  |  | (3,139,393) |  |
Property, plant and equipment, net |  | $ | 3,368,322 |  |  | $ | 3,309,678 |  |
Other non-current assets: |  |  |  |  |
Pension |  | $ | 50,132 |  |  | $ | 48,506 |  |
Capitalized software, net |  | 380,728 |  | 360,205 |  |
Operating lease ROU assets |  | 341,162 |  |  | 307,976 |  |
Investments in unconsolidated affiliates |  | 215,759 |  |  | 207,177 |  |
Other non-current assets |  | 152,474 |  |  | 137,563 |  |
Total other non-current assets |  | $ | 1,140,255 |  |  | $ | 1,061,427 |  |
The components of certain liability and stockholders’ equity accounts included within our Consolidated Balance Sheets are as follows: |
|  | June 30, 2024 |  | December 31, 2023 |
Accounts payable: |  |  |  |  |
Accounts payable—trade |  | $ | 781,166 |  |  | $ | 630,536 |  |
Supplier finance program obligations |  | 201,737 |  |  | 149,261 |  |
Other |  | 155,323 |  |  | 306,386 |  |
Total accounts payable |  | $ | 1,138,226 |  |  | $ | 1,086,183 |  |
Accrued liabilities: |  |  |  |  |
Payroll, compensation and benefits |  | $ | 195,039 |  |  | $ | 261,961 |  |
Advertising, promotion and product allowances |  | 328,470 |  |  | 343,444 |  |
Operating lease liabilities |  | 38,269 |  |  | 34,494 |  |
Other |  | 221,945 |  |  | 227,916 |  |
Total accrued liabilities |  | $ | 783,723 |  |  | $ | 867,815 |  |
Other long-term liabilities: |  |  |  |  |
Post-retirement benefits liabilities |  | $ | 91,497 |  |  | $ | 90,718 |  |
Pension benefits liabilities |  | 27,202 |  |  | 28,949 |  |
Operating lease liabilities |  | 307,862 |  |  | 277,089 |  |
Other |  | 273,504 |  |  | 263,917 |  |
Total other long-term liabilities |  | $ | 700,065 |  |  | $ | 660,673 |  |
Accumulated other comprehensive loss: |  |  |  |  |
Foreign currency translation adjustments |  | $ | (119,547) |  |  | $ | (87,706) |  |
Pension and post-retirement benefit plans, net of tax |  | (122,710) |  |  | (126,800) |  |
Cash flow hedges, net of tax |  | (9,356) |  |  | (15,572) |  |
Total accumulated other comprehensive loss |  | $ | (251,613) |  |  | $ | (230,078) |  |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
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