SUPPLEMENTAL BALANCE SHEET INFORMATION

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUPPLEMENTAL BALANCE SHEET INFORMATION

SUPPLEMENTAL BALANCE SHEET INFORMATION

The components of certain asset accounts included within our Consolidated Balance Sheets are as follows:

	June 30, 2024		December 31, 2023
Inventories:
Raw materials	$	549,310	$	481,111
Goods in process	282,489		192,232
Finished goods	1,062,664		948,974
Inventories at First In First Out	1,894,463		1,622,317
Adjustment to Last In First Out	(434,975)		(281,321)
Total inventories	$	1,459,488	$	1,340,996
Prepaid expenses and other:
Prepaid expenses	$	165,608	$	227,567
Other current assets	397,033		118,021
Total prepaid expenses and other	$	562,641	$	345,588
Property, plant and equipment:
Land	$	179,988	$	180,751
Buildings	1,780,525		1,763,070
Machinery and equipment	3,970,754		3,861,006
Construction in progress	678,229		644,244
Property, plant and equipment, gross	6,609,496		6,449,071
Accumulated depreciation	(3,241,174)		(3,139,393)
Property, plant and equipment, net	$	3,368,322	$	3,309,678
Other non-current assets:
Pension	$	50,132	$	48,506
Capitalized software, net	380,728		360,205
Operating lease ROU assets	341,162		307,976
Investments in unconsolidated affiliates	215,759		207,177
Other non-current assets	152,474		137,563
Total other non-current assets	$	1,140,255	$	1,061,427

The components of certain liability and stockholders’ equity accounts included within our Consolidated Balance Sheets are as follows:
	June 30, 2024		December 31, 2023
Accounts payable:
Accounts payable—trade	$	781,166	$	630,536
Supplier finance program obligations	201,737		149,261
Other	155,323		306,386
Total accounts payable	$	1,138,226	$	1,086,183
Accrued liabilities:
Payroll, compensation and benefits	$	195,039	$	261,961
Advertising, promotion and product allowances	328,470		343,444
Operating lease liabilities	38,269		34,494
Other	221,945		227,916
Total accrued liabilities	$	783,723	$	867,815
Other long-term liabilities:
Post-retirement benefits liabilities	$	91,497	$	90,718
Pension benefits liabilities	27,202		28,949
Operating lease liabilities	307,862		277,089
Other	273,504		263,917
Total other long-term liabilities	$	700,065	$	660,673
Accumulated other comprehensive loss:
Foreign currency translation adjustments	$	(119,547)	$	(87,706)
Pension and post-retirement benefit plans, net of tax	(122,710)		(126,800)
Cash flow hedges, net of tax	(9,356)		(15,572)
Total accumulated other comprehensive loss	$	(251,613)	$	(230,078)