Moment of inertia is not a single number for a body — it depends on the axis of rotation. The same body has different MOI about different axes, with the minimum always through the centre of mass (parallel axis theorem guarantees is the minimum among parallel axes).
For composite bodies, MOI is additive: = + + ... For bodies with holes, subtract: = - . When the removed portion's CM is not on the chosen axis, use the parallel axis theorem to shift it before subtracting.
The perpendicular axis theorem ( = + ) is a powerful shortcut for 2D bodies. For example, a disc's MOI about a diameter is obtained from: = 2*, giving = /4. This theorem CANNOT be applied to 3D bodies like spheres or cylinders.
Radius of gyration (k = sqrt) provides a convenient single-number description of mass distribution for rolling problems.