Equity method investments (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Summary of carrying value and fair value of investments

The common stock of Kraft Heinz and Occidental are publicly traded. The fair values and carrying values of these two investments in addition to the carrying values of our other significant equity method investments are summarized as follows (in millions).

	Carrying Value				Fair Value
	December 31,				December 31,
	2022		2021		2022		2021
Kraft Heinz	$	12,937	$	13,112	$	13,249	$	11,683
Occidental		11,484		—		12,242		—
Other		3,629		2,933
	$	28,050	$	16,045

Summary of earnings and distributions received from equity method investments

Our earnings and distributions received from significant equity method investments are summarized in the table below (in millions). As previously indicated, we are reporting the equity method effects for Occidental on a one-quarter lag, thus the earnings we recorded in 2022 below do not reflect Occidental’s results for its fourth quarter.

	Equity in Earnings						Distributions Received
	Year ended December 31,						Year ended December 31,
	2022		2021		2020		2022		2021		2020
Kraft Heinz	$	628	$	269	$	95	$	521	$	521	$	521
Occidental		323		—		—		24		—		—
Other		912		617		562		284		1,057		383
	$	1,863	$	886	$	657	$	829	$	1,578	$	904

Summarized unaudited financial information of Kraft Heinz

Summarized consolidated financial information of Kraft Heinz follows (in millions).

	December 31, 2022		December 25, 2021
Assets	$	90,513	$	93,394
Liabilities		41,643		43,942

	Year ending
	December 31, 2022		December 25, 2021		December 26, 2020
Sales	$	26,485	$	26,042	$	26,185
Net earnings attributable to Kraft Heinz common shareholders		2,363		1,012		356

Summarized consolidated financial information of Occidental, reported on a one quarter lag follows (in millions).

	September 30, 2022
Assets	$	72,144
Liabilities		43,424

	Third Quarter		First Nine Months
	2022		2022
Total revenues and other income	$	9,501	$	28,769
Net earnings attributable to Occidental common shareholders		2,546		10,777