Equity method investments (Tables)

12 Months Ended

Dec. 31, 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 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,
	2023		2022		2023		2022
Kraft Heinz	$	13,230	$	12,937	$	12,035	$	13,249
Occidental		15,410		11,484		14,552		12,242
Other		426		3,629
	$	29,066	$	28,050

Summary of earnings and distributions received from equity method investments

Our earnings and distributions received from equity method investments are summarized in the following table (in millions). The earnings we recorded in 2023 for Occidental included our share of its earnings for the fourth quarter of 2022 and first nine months of 2023. The earnings we recorded in 2022 for Occidental included our share of its earnings from August 4, 2022 through September 30, 2022.

	Equity in Earnings						Distributions Received
	Year ended December 31,						Year ended December 31,
	2023		2022		2021		2023		2022		2021
Kraft Heinz	$	758	$	628	$	269	$	521	$	521	$	521
Occidental		1,077		323		—		142		24		—
Other		138		912		617		58		284		1,057
	$	1,973	$	1,863	$	886	$	721	$	829	$	1,578

Summarized unaudited financial information of Kraft Heinz

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

	December 30, 2023		December 31, 2022
Assets	$	90,339	$	90,513
Liabilities		40,617		41,643

	Year ended
	December 30, 2023		December 31, 2022		December 25, 2021
Sales	$	26,640	$	26,485	$	26,042
Net earnings attributable to Kraft Heinz common shareholders		2,855		2,363		1,012

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

	September 30, 2023		December 31, 2022
Assets	$	71,827	$	72,609
Liabilities		42,515		42,524

	Twelve months ending September 30, 2023
Total revenues and other income	$	29,715
Net earnings attributable to Occidental common shareholders		4,471