Equity method investments (Tables)

3 Months Ended

Mar. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Summary of carrying value and fair value of investments

Kraft Heinz and Occidental common stocks are publicly traded. The fair values and our carrying values of these investments are included in the following table (in millions).

	Carrying Value				Fair Value
	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Kraft Heinz	$	13,274	$	13,230	$	12,009	$	12,035
Occidental		15,873		15,410		16,119		14,552
Other		438		426
	$	29,585	$	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 previously described, onThe earnings we recorded in the first quarter of 2024 and 2023 for Occidental represented our share of its earnings for the fourth quarter of 2023 and 2022, respectively.

	Equity in Earnings				Distributions Received
	First Quarter				First Quarter
	2024		2023		2024		2023
Kraft Heinz	$	215	$	222	$	130	$	130
Occidental		263		370		41		25
Other		15		96		4		—
	$	493	$	688	$	175	$	155

Summarized unaudited financial information of Kraft Heinz

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

	March 30, 2024		December 30, 2023
Assets	$	90,309	$	90,339
Liabilities		40,621		40,617

	First Quarter
	2024		2023
Sales	$	6,411	$	6,489
Net earnings attributable to Kraft Heinz common shareholders		801		836

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

	December 31, 2023		September 30, 2023
Assets	$	74,008	$	71,287
Liabilities		43,659		42,515

	Quarter ending December 31, 2023		Quarter ending December 31, 2022
Total revenues and other income	$	7,529	$	8,326
Net earnings attributable to Occidental common shareholders		1,029		1,727