Equity method investments (Tables)

9 Months Ended

Sep. 30, 2024

Equity Method Investments and Joint Ventures [Abstract]

Summary of carrying value and fair value of investments

The fair values and our carrying values of these investments are included in the following table (in millions).

	Carrying Value				Fair Value
	September 30, 2024		December 31, 2023		September 30, 2024		December 31, 2023
Kraft Heinz	$	13,008	$	13,230	$	11,426	$	12,035
Occidental		16,672		15,410		13,157		14,552
Other		453		426
	$	30,133	$	29,066

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). As described in Note 3, The earnings we recorded in the first nine months of 2024 and 2023 for Occidental represented our share of its earnings for the nine months ending June 30, 2024 and 2023, respectively.

	Equity in Earnings									Distributions Received
	Third Quarter					First Nine Months				Third Quarter				First Nine Months
	2024			2023		2024		2023		2024		2023		2024		2023
Kraft Heinz	$	(78	)	$	69	$	164	$	556	$	131	$	131	$	391	$	391
Occidental		277			169		740		773		55		40		151		101
Other		23			24		63		132		19		22		37		43
	$	222		$	262	$	967	$	1,461	$	205	$	193	$	579	$	535

Summarized unaudited financial information of Kraft Heinz

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

	September 28, 2024		December 30, 2023
Assets	$	88,566	$	90,339
Liabilities		40,097		40,617

	Third Quarter					First Nine Months
	2024			2023		2024		2023
Sales	$	6,383		$	6,570	$	19,270	$	19,780
Net earnings attributable to common shareholders		(290	)		262		613		2,098

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

	June 30, 2024		September 30, 2023
Assets	$	76,216	$	71,287
Liabilities		43,957		42,515

	Quarter ending June 30,				Nine months ending June 30,
	2024		2023		2024		2023
Total revenues and other income	$	6,879	$	6,731	$	20,418	$	22,315
Net earnings attributable to common shareholders		992		605		2,739		3,315