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Basis of Presentation (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2025 and 2024 (in millions).

June 30, 2025June 30, 2024
Cash and cash equivalents$1,057 $764 
Restricted cash and restricted cash equivalents (included in segregated cash and investments)4,887 3,507 
Total cash, cash equivalents, restricted cash, and restricted cash equivalents$5,944 $4,271 
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 June 30, 2025 and 2024 (in millions).

June 30, 2025June 30, 2024
Cash and cash equivalents$1,057 $764 
Restricted cash and restricted cash equivalents (included in segregated cash and investments)4,887 3,507 
Total cash, cash equivalents, restricted cash, and restricted cash equivalents$5,944 $4,271 
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 June 30,
20252024
Opening balance, April 1$158 $216 
Provisions (reversals), net5 (12)
Write-offs against allowance(13)(3)
Recoveries and other
3 (7)
Closing balance, June 30$153 $194 
Six Months Ended June 30,
20252024
Opening balance, January 1$167 $215 
Provisions (reversals), net7 (7)
Write-offs against allowance(26)(16)
Recoveries and other5 2 
Closing balance, June 30$153 $194 
Schedule of Inventories
The following table sets forth the Company’s inventories as of June 30, 2025 and December 31, 2024 (in millions).
June 30, 2025December 31, 2024
Raw materials and supplies (1)
$1,694 $1,922 
Finished goods2,670 2,689 
Market inventories5,359 6,961 
Total inventories$9,723 $11,572 

(1) Includes work in process inventories which were not material as of June 30, 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 June 30, 2025 and December 31, 2024 (in millions).

June 30, 2025December 31, 2024
Land$606 $566 
Buildings6,368 6,143 
Machinery and equipment21,414 20,636 
Construction in progress1,476 1,553 
 29,864 28,898 
Accumulated depreciation(18,722)(18,061)
Net Property, Plant, and Equipment$11,142 $10,837 
Schedule of Changes in Redeemable Non-Controlling Interests
Changes to the Company's redeemable non-controlling interests for the three and six months ended June 30, 2025 and 2024 were as follows (in millions):

Three Months Ended June 30,
20252024
Opening balance, April 1$255 $307 
Net (loss) attributable to redeemable non-controlling interests(1)(4)
Currency translation adjustments and other
(5)(1)
Closing balance, June 30$249 $302 
Six Months Ended June 30,
20252024
Opening balance, January 1$253 $320 
Net (loss) attributable to redeemable non-controlling interests(3)(15)
Currency translation adjustments and other
(1)(3)
Closing balance, June 30$249 $302