Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Reconciliation of Cash and Cash Equivalents

The following represents a reconciliation of cash and cash equivalents in the Consolidated Balance Sheets to total cash, cash equivalents, restricted cash, and restricted cash equivalents in the Consolidated Statements of Cash Flows as of March 31, 2025 and 2024 (in millions).

	March 31, 2025		March 31, 2024
Cash and cash equivalents	$	864	$	830
Restricted cash and restricted cash equivalents included in segregated cash and investments	3,192		4,015
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	4,056	$	4,845

Schedule of Reconciliation of Restricted Cash and Restricted Cash Equivalents

The following represents a reconciliation of cash and cash equivalents in the Consolidated Balance Sheets to total cash, cash equivalents, restricted cash, and restricted cash equivalents in the Consolidated Statements of Cash Flows as of March 31, 2025 and 2024 (in millions).

	March 31, 2025		March 31, 2024
Cash and cash equivalents	$	864	$	830
Restricted cash and restricted cash equivalents included in segregated cash and investments	3,192		4,015
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	4,056	$	4,845

Schedule of Changes to the Allowance for Estimated Uncollectible Amounts

Changes to the allowance for estimated uncollectible accounts were as follows (in millions).

	Three Months Ended March 31,
	2025		2024
Opening balance, January 1	$	167	$	215
Provisions (reversals), net	2		5
Write-offs against allowance	(14)		(13)
Recoveries and other	3		9
Closing balance, March 31	$	158	$	216

Schedule of Inventories

The following table sets forth the Company’s inventories as of March 31, 2025 and December 31, 2024 (in millions).

	March 31, 2025		December 31, 2024
Raw materials and supplies (1)	$	1,776	$	1,922
Finished goods	2,753		2,689
Market inventories	7,021		6,961
Total inventories	$	11,550	$	11,572

(1) Includes work in process inventories which were not material as of March 31, 2025 and December 31, 2024.

Schedule of Net Property, Plant, and Equipment

The Company’s net property, plant, and equipment consisted of the following as of March 31, 2025 and December 31, 2024 (in millions).

	March 31, 2025		December 31, 2024
Land	$	585	$	566
Buildings	6,250		6,143
Machinery and equipment	20,963		20,636
Construction in progress	1,545		1,553
	29,343		28,898
Accumulated depreciation	(18,343)		(18,061)
Net Property, Plant, and Equipment	$	11,000	$	10,837

Schedule of Changes in Redeemable Non-Controlling Interests

Changes to the Company's redeemable non-controlling interests for the three months ended March 31, 2025 and 2024 were as follows (in millions):

	Three Months Ended March 31,
	2025		2024
Opening balance, January 1	$	253	$	320
Net (loss) attributable to redeemable non-controlling interests	(2)		(10)
Currency translation adjustments and other	4		(3)
Closing balance, March 31	$	255	$	307