Equity method investments (Tables)

9 Months Ended

Sep. 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).

	Carrying Value				Fair Value
	September 30, 2023		December 31, 2022		September 30, 2023		December 31, 2022
Kraft Heinz	$	13,073	$	12,937	$	10,948	$	13,249
Occidental		13,987		11,484		14,541		12,242
Other		436		3,629
	$	27,496	$	28,050

Summary of earnings and distributions received from equity method investments

	Equity in Earnings								Distributions Received
	Third Quarter				First Nine Months				Third Quarter				First Nine Months
	2023		2022		2023		2022		2023		2022		2023		2022
Kraft Heinz	$	69	$	114	$	556	$	391	$	131	$	131	$	391	$	391
Occidental		169		—		773		—		40		—		101		—
Other		24		301		132		567		22		74		43		164
	$	262	$	415	$	1,461	$	958	$	193	$	205	$	535	$	555

Summarized unaudited financial information of Kraft Heinz

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

	September 30, 2023		December 31, 2022
Assets	$	89,656	$	90,513
Liabilities		40,198		41,643

	Third Quarter				First Nine Months
	2023		2022		2023		2022
Sales	$	6,570	$	6,505	$	19,780	$	19,104
Net earnings attributable to Kraft Heinz common shareholders		262		432		2,098		1,473

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

	June 30, 2023		December 31, 2022
Assets	$	71,199	$	72,609
Liabilities		42,088		42,524

	Quarter ending June 30, 2023		Nine months ending June 30, 2023
Total revenues and other income	$	6,731	$	22,315
Net earnings attributable to Occidental common shareholders		605		3,315