Accounting

Sheet1

(In millions)
Net Sales by Region	2022	2021
North America	8,958	8,174
Europe	2,310	2,397
Latin America	1,123	997
AMEA	2,933	2,613
Assets	2022	2021
Cash and cash equivalents	299	286
Accounts receivable	1,736	1,489
Inventories	1,768	1,398
Other current assets	383	221
Property	3,789	3,827
Operating lease right-of-use assets	617	640
Goodwill	5,686	5,771
Other intangibles	2,296	2,409
Investment in unconsolidated entities	432	424
Other assets	1,490	1,713
Liabilities	2022	2021
Current maturities of long-term debt	780	712
Notes payable	467	137
Accounts payable	2,973	2,573
Current operating lease liabilities	121	116
Accrued advertising and promotion	766	714
Accred salaries and wages	370	300
Other current liabilities	872	763
Long term debt	5,317	6,262
Operating lease liabilities	486	502
Deferred income taxes	760	722
Pension liability	709	706
Other liabilities	500	456
Operating Profit	2022	2021
North America	1,356	1,329
Europe	329	350
Latin America	124	110
AMEA	252	246
Supplemental Information	2022	2021	2020
Research and development expense	127	134	135
Advertising expense	756	790	781
PPE	2022	2021
Land	108	123
Buildings	2,274	2,238
Machinery and equipment	6,339	6,277
Capitalized software	500	594
Construction in progress	660	623
Acc. Depreciation	-6,092	-6,028

&"Helvetica Neue,Regular"&12&K000000&P

Net Sales by Region (in millions)

2022

North America Europe Latin America AMEA 8958.000000 2310.000000 1123.000000 2933.000000 2021

North America Europe Latin America AMEA 8174.000000 2397.000000 997.000000 2613.000000

Current Assets (in millions)

2021

Other current assets Inventories Accounts receivable Cash and cash equivalents 221.000000 1398.000000 1489.000000 286.000000 2022

Other current assets Inventories Accounts receivable Cash and cash equivalents 383.000000 1768.000000 1736.000000 299.000000

Current Liabilities (in millions)

2021

Other current liabilities Accred salaries and wages Accrued advertising and promotion Current operating lease liabilities Accounts payable Notes payable Current maturities of long-term debt 763.000000 300.000000 714.000000 116.000000 2573.000000 137.000000 712.000000 2022

Other current liabilities Accred salaries and wages Accrued advertising and promotion Current operating lease liabilities Accounts payable Notes payable Current maturities of long-term debt 872.000000 370.000000 766.000000 121.000000 2973.000000 467.000000 780.000000

Operating Profit (in millions)

North America Europe Latin America AMEA 1356.000000 329.000000 124.000000 252.000000

North America Europe Latin America AMEA 1329.000000 350.000000 110.000000 246.000000

Supplemental Information (in millions) from 2022 to 2020

Research and development expense

1 2 3 127.000000 134.000000 135.000000 Advertising expense

1 2 3 756.000000 790.000000 781.000000

PPE (in millions)

Land Buildings Machinery and equipment Capitalized software Construction in progress Acc. Depreciation 108.000000 2274.000000 6339.000000 500.000000 660.000000 -6092.000000

Land Buildings Machinery and equipment Capitalized software Construction in progress Acc. Depreciation 123.000000 2238.000000 6277.000000 594.000000 623.000000 -6028.000000