Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of inventories

Inventories are valued at the lower of cost (first-in, first-out basis) or market. Cost includes material and conversion costs. Inventories consisted of the following:

as of December 31 (in millions)	2019		2018
Finished goods	$	485	$	473
Work-in-process	942		862
Raw materials	386		270
Inventories	$	1,813	$	1,605

Schedule of property and equipment

Property and Equipment

as of December 31 (in millions)	2019			2018
Land	$	72		$	73
Buildings	1,613			1,603
Equipment	6,012			6,362
Construction in progress	491			358
Property and equipment, gross	8,188			8,396
Less accumulated depreciation	(5,226		)	(5,513		)
Property and equipment, net	$	2,962		$	2,883