Property, plant and equipment, net

6 Months Ended

Jun. 30, 2025

Property, plant and equipment, net was as follows:


	As of	As of
(In millions)	June 30, 2025	December 31, 2024
Land and mineral reserves	$3,435	$3,361
Buildings and installations	2,997	2,948
Machines, furniture, vehicles and tools	9,315	9,001
Construction in progress	591	439
Finance lease right-of-use assets	366	334
Total property, plant and equipment	16,704	16,083
Less: accumulated depreciation, depletion and impairment	(8,913)	(8,549)
Property, plant and equipment, net	$7,791	$7,534

Depreciation and depletion expense was $182 million for each of the three months ended June 30, 2025 and

2024 and $363 million and $353 million for the six months ended June 30, 2025 and 2024, respectively.

Depreciation expense is recorded within Cost of revenues and Selling, general and administrative expenses on the

unaudited condensed consolidated statements of operations and depletion expense is recorded within Cost of

revenues on the unaudited condensed consolidated statements of operations.

The Company recorded impairment charges of $2 million for each of the three and six months ended June

30, 2025 and 2024 related to assets no longer in service. Asset impairments are included in Loss on impairments on

the unaudited condensed consolidated statements of operations.

The Company recorded gains on disposals of long-lived assets of $4 million and $5 million for the three

months ended June 30, 2025 and 2024, respectively, and $5 million and $6 million for the six months ended June 30,

2025 and 2024, respectively.