Equity method investments (Tables)

6 Months Ended

Jun. 30, 2023

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 our carrying values of these investments in addition to the carrying values of our other significant equity method investments are summarized as follows (in millions). We evaluated our investments in Kraft Heinz and Occidental for other-than-temporary impairment as of June 30, 2023, and based on the prevailing facts and circumstances, concluded the recognition of an impairment charge in earnings was not required.

	Carrying Value				Fair Value
	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Kraft Heinz	$	13,199	$	12,937	$	11,553	$	13,249
Occidental		13,861		11,484		13,179		12,242
Other		433		3,629
	$	27,493	$	28,050

Summary of earnings and distributions received from equity method investments

	Equity in Earnings								Distributions Received
	Second Quarter				First Six Months				Second Quarter				First Six Months
	2023		2022		2023		2022		2023		2022		2023		2022
Kraft Heinz	$	265	$	71	$	487	$	277	$	130	$	130	$	260	$	260
Occidental		234		—		604		—		36		—		61		—
Other		12		133		108		266		21		88		21		90
	$	511	$	204	$	1,199	$	543	$	187	$	218	$	342	$	350

Summarized unaudited financial information of Kraft Heinz

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

	July 1, 2023		December 31, 2022
Assets	$	90,956	$	90,513
Liabilities		40,942		41,643

	Second Quarter				First Six Months
	2023		2022		2023		2022
Sales	$	6,721	$	6,554	$	13,210	$	12,599
Net earnings attributable to Kraft Heinz common shareholders		1,000		265		1,836		1,041

Summarized consolidated financial information of Occidental follows (in millions).

	March 31, 2023		December 31, 2022
Assets	$	71,600	$	72,609
Liabilities		42,041		42,524

	Quarter ending March 31, 2023		Six months ending March 31, 2023
Total revenues and other income	$	7,258	$	15,584
Net earnings attributable to Occidental common shareholders		983		2,710